Electronic Content Management (ECM) is a structure of using the methods, procedures, and mechanisms. It allows an organizational interest to gather, build, preserve, and yield the most critical information to their representatives, stakeholders, and customers. Over the years, with the change in content, there has been a sufficient change in the content management system. ECM system focuses on the digital management of the material and how to use it effectively to support the business processes and achieve the organizational goals.
- Electronic Content Management is not limited to a single technology or process.
- It is an umbrella term used to obtain, organize, store, and share content containing relevant information to stakeholders and clients.
- Organizations having critical and large volumes of data must have ECM in place to reduce the inefficiencies, decrease the operational costs, and stick with the regulatory compliances that are mandatory for the organizations.
- We have listed some of the functional areas of the organizations that utilize the advantages of ECM.
Top functional areas that utilize the ECM benefits
● Managing Contracts between the parties
- There is a vast significance of content in contract management.
- ECM helps organizations to digitally collaborate and maintain contracts by effectively reviewing, editing, and timely approving the contracts.
- It will also notify the stakeholders whenever there is a requirement of their intervention in contract management.
● Resource Automation in the HR Department
- In the previous years, whenever an employee joined an organization, he/she was asked to submit documents.
- These documents were then filed and kept as employee records for further usage in the future.
- It was a hectic process and terrible to maintain files. Many times, records were lost or were affected by any external agents.
- In such a situation, the ECM system can turn out to be the best process at the time of hiring.
- An ECM system introduces the usage of digital documentation at the time of hiring resources, streamlining the whole recruitment process, and ensuring that there is no breach in the HR compliance.
● Automating the account payables
- At any point in time, how much amount is to be paid by your organization is something you can find out using the account payables.
- Instead of maintaining everything related to account payables like invoices, bills, challans in paper-format, the ECM system will help to transform the whole account payables in paperless-format.
- There is no need to keep physical invoices, bills, and challans. Get everything into digital format and print whenever required.
● Automating the account receivables
- Bills generated by your organization against any selling was earlier in paper-format.
- Instead of preserving all the bills and utilizing valuable physical space, you can shift to paperless-format.
- Practical usage of the ECM system in the account receivables will help you to automate the whole billing process.
- Regular notification will also be sent to your clients when the due date to pay the bill is near.
Several firms have employed many of its resources to learn how Electronic Content Management will help the organization to grow and achieve better operational efficiency, improve productivity, avoid loss of any critical data, and how critical data remain secure.
There are a few additional benefits that an organization will get by deploying an Electronic Content Management system. We have listed them below.
Additional benefits of the ECM system
- You can adequately document all the knowledge base at one confined place on the server. It will help your incoming employees to get all the required information in one place.
- You can easily search for any data when your information is presently maintained using the ECM system.
- By storing all the information in one place, you make sure that your organization is following the single source of truth policy. In a way, you structure the while information base in a secure digital content repository.
- The ECM system reduces the overall cost of the operations by minimizing the cost involved in storing, maintaining regulatory compliance, implementing the manual processes, and other postal requirements.
It becomes mandatory for us to mention a few essential elements of an Electronic Content Management system.
Key elements of the ECM system
- Content management lifecycle management
- Managing the whole workflow of the ECM system
- Managing the documents in the digital format
- Governing the information gathered and stored
- Collaboration with external tools to manage the whole process
- Content is an asset and maintaining this digital asset
An ECM system is thereby improving the industrial standards of maintaining critical information. It has also shown a great adaption to the organizational needs to secure and store digital data.