A new global business research from Epicor Software has noted that the Enterprise Content Management (ECM) supports improved decision-making and better business outcomes, and organizations with ECM are at a higher chance of achieving greater business growth than companies who lack ECM.
“While enterprise content management has been around for decades, the technology continues to be relevant in our modern-day business environment, and in fact, is playing a key role in digital business transformation,” said Tom Franceski, Vice President, and General Manager, DocStar. “Our global research shows multiple data storage systems and lack of ECM solution are standing in the way of business growth.”
In the survey by Epicor of around 2,500 respondents in 14 countries, business professionals were asked how they manage access to corporate files, images, documents, and other content output from various business systems. Of these respondents, nearly 60 percent of businesses experiencing strong growth said they had an ECM solution in place. Moreover, 79 percent of stakeholders in strong growth companies attributed better decision making to greater operational visibility.
Information access fuels growth; lack of ECM solution stunts it
Further, the research shows a correlation between perceived ease of information access and sales performance. About 38 % of businesses experiencing strong growth said they found it “extremely easy” or “fairly easy” to use data to make a measurable, positive impact on sales.
In contrast. More than 60 percent of the businesses experiencing weak growth reckoned not having an ECM solution in place. The research quantified various challenges businesses experience in working with data stored in multiple systems without the benefits of unified access and visibility supported by ECM.
Nearly 40 percent of businesses believe it to be challenging to identify and remove process bottlenecks, while the 33 percent of businesses said matching up and comparing information in different systems was a struggle. Almost one-third of respondents had difficulty identifying significant, measurable cost savings, and an inability to interrogate data to extract “actionable information” was cited by 30 percent of businesses. Additionally, of companies experiencing weak growth, 35 percent indicated they struggled in using data to make a measurable, positive impact on sales, characterizing this as “extremely challenging” or “fairly challenging.”
“DocStar is a browser-based enterprise content management and process automation platform that enables global digital transformation. Easy to implement and use—both in the cloud and on-premises—DocStar offers proven technology and global process expertise to empower organizations to work smarter, reduce costs and invest in growth,” Franceski added.
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