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ECM: Justifying the Cost for Content Management
Regulations and compliance, email archiving, collaboration. These are just a few of the things that are driving tremendous growth in the amount of data that’s being created. In fact, more than 40 exabytes of data are being created annually — that’s the equivalent of 200 Library of Congresses. And 80%+ of this data is considered to be unstructured. With such an incredible amount of data being spewed out, it would seem that tools to manage it would be in top demand. But a recent whitepaper by Daybreak ICS found that there’s a lot of hesitancy by people to adopt data management solutions.
In a survey to find out what holds people back, AIIM found that 29% of respondents thought that being able to justify the investment to company management was difficult, and another 28% found that planning, managing and working though change management issues related to adopting ECM was their biggest challenge.
To come to terms with calculating ROI, consider what the cost of the alternative could be. In the area of compliance, non-compliance can be incredibly costly from fines and potential liability. For compliance, having an ECM system in place, in a way, is a form of insurance against much more unpredictable costs.
ECM’s ROI is also due to cost reductions and efficiencies achieved in improved ways of doing business. But the best way to achieve high ROI is to maximize the utilization of system, and that requires a solution with good usability features and that closely targets the needs of its users.
