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Staying Afloat during an Economic Downturn:Why ECM is a “Must-Have”
 By James Thumma, VP of Sales and Marketing, Optical ImageTechnology(This article originally appeared in a November 2008 publication of  ECM Connection)
As difficult as it may be to admit it, the signs of economic declineare all around us. Financial markets are spiraling, credit is difficultto obtain, customer spending is down, and businesses and consumersalike are altering buying habits. You have to find ways to cut costs.Ideally, this involves finding ways to increase sales while decreasingoverhead expenditures. Unfortunately, for many organizations, cost-cutting often takes the form of layoffs and other drastic measures.To remain profitable and competitive during difficult economic times,it is wise to reevaluate your processing abilities. Are your operationsrunning at peak efficiency? It may seem counterintuitive to consider implementing enterprise content management (ECM) software at a time when logic dictatesthat you rein in your spending. However, by investing in high-performance ECM software now,you can position yourself with the tools that you need to thrive during uncertain financial times.Initiatives that you take during lean times will leave you poised to surpass your competitionwhen the economic picture turns.
Process your work more efficiently
The obvious step in increasing efficiency throughout your enterprise is a transition from paper  processes to electronic. Paper is scanned, indexed for easy retrieval, and stored in an electronicrepository along with JPEGs, audio files, electronic forms, and other electronic media.Undoubtedly, a simple conversion from paper to electronic processes will result in improvedefficiency. However, to get the most bang for your buck, look beyond your immediate gainsand take your business processes to the next level.Prior to your conversion, analyze your business processes. You may be enticed by the initialimprovements that you receive with electronic access, but don’t assume that your work isfinished at this point. The real payoffs are associated with business process management (BPM). Enlist the help of a professional if you need to—even when finances are tight, aninvestment in process analysis will pay huge dividends downthe line.High performance ECM software offers the flexibility andextensibility to integrate with your existing software systems(administrative, customer service, student informationsystem, accounting, billing, etc.). It will even allow you toaccess and use information that is currently stored in legacyor proprietary systems. A process analyst can examine your existing software infrastructure, and can help you design blueprints that ensure a smooth flow of information.
 It may seem counterintuitive toconsider implementing enterprisecontent management (ECM) softwareat a time when logic dictates that  you rein in your spending. However,by investing in high-performance ECM software now, you can position yourself with the tools that you need 
to thrive during uncertain financial 
times. Initiatives that you take during lean times will leave you poised to surpass your competition when theeconomic picture turns.
 
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Automation and BPM are the tools that will revolutionize your processing abilities. BPMallows you to electronically route your documents behind the scenes, delivering them to theright person at the right time for processing. When you are unencumbered by the constraintsthat are associated with paper, your productivity is unlimited. A Web-based system ensures thatauthorized staff can access information remotely, from any browser. Satellite offices, remoteworkers, branch campuses, agents in the field—all authorized users will have immediate,secure access to your document repository. An ECM system will allow you to transform your organization regardless of the uncertainty of the economic climate.
Improve your compliance measures
An investment in ECM can help you avoid compliance penalties, which are becomingmore stringent with each passing year. A transition to electronic processes—by definition— demonstrates an effort to improve privacy, security, and accountability measures. When youhave ECM software in place, you are able to produce information upon request without havingto conduct exhaustive searches. In addition to simplifying potential eDiscovery requests,this ability also significantly minimizes costs related toregulatory audits.Records management tools are inexorably linked withcompliance. Automatic retention and disposition arekey elements of a records management strategy. Whenyou are able to automate your retention and destructionschedules, you remove the potential for human error in your compliance initiatives. ECM guarantees that records arenot destroyed prematurely and are not kept beyond the time period that is mandated by law. ECM provides the securityto ensure that your records are secure and that HIPAAmandates are followed.
Make the most of your investment
A high-performance ECM solution offers the scalability to enrich and grow with your operation,no mater what its current size. For smaller organizations, this means that an affordable systemoffers you the capability to compete with giants in your industry. As you grow, the softwaregrows with you. Larger organizations can begin an implementation in one department, and rollout a solution to the entire enterprise.Regardless of your size, one way to get the most from your ECM investment is to use thesoftware to simplify your back-office and administrative processes. You can use your ECMsolution to process job applications, contracts, credentials, benefit enrollment documents, healthawareness communications, personnel files, policy paperwork, and other documents that areassociated with human relations. A robust system should be able to integrate with Lawson, SAP,PeopleSoft, and other applications to boost the functionality of your existing investments.In addition to making internal processes more efficient, ECM also eases processing burdens by providing your customers with the option of self service. Forms can be submitted using theWeb. Electronic information can then be captured and routed, and customer records can beautomatically updated—all without the need for human intervention. In addition to simplifyingyour processing, offering your customers the opportunity to submit paperwork online increasesoverall satisfaction and strengthens retention rates. While the advice to work smarter, not harder may seem trite during an economic downturn, the reality is that today’s technology makes it possible.
 Prior to your conversion, analyze your business processes. You may be enticed bythe initial improvements that you receivewith electronic access, but don’t assume
that your work is finished at this point. The
real payoffs are associated with business process management (BPM). Enlist thehelp of a professional if you need to—even
when finances are tight, an investment in
 process analysis will pay huge dividendsdown the line.
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