{"id":698,"date":"2008-10-28T07:00:30","date_gmt":"2008-10-28T15:00:30","guid":{"rendered":"http:\/\/www.formtek.com\/blog\/?p=698"},"modified":"2008-10-28T07:00:30","modified_gmt":"2008-10-28T15:00:30","slug":"records-management-market-poised-to-double-in-size","status":"publish","type":"post","link":"https:\/\/formtek.com\/blog\/records-management-market-poised-to-double-in-size\/","title":{"rendered":"Records Management: Market poised to double in size"},"content":{"rendered":"

Butler Research has recently updated their Document and Records Management (DRM) technology report, their first update since February 2005. Their conclusion is that while DRM technology hasn’t changed that much since their last report, their is a lot of activity now among companies in establishing new DRM systems or in upgrading their existing capabilities. The Butler report refers to the current uptake of technology as the “second wave of DRM”.<\/p>\n

Many of the early deployments around DRM were in response to requirements around compliance. Butler estimates that Enterprise Content Management now has a market penetration of over 80 percent. 40 percent of organizations are planning to invest in new ECM systems over the next two years. Many of those early companies were experimenting with the technology and often deployed department-wide point solutions rather than enterprise-wide solutions, and now those companies are ready to expand those capabilities.<\/p>\n

Early DRM systems were too focused on only compliance and lost sight of how to use those systems to achieve business benefits. Successful DRM implementations can only come about when DRM benefits are mapped to overall business strategies. By focusing on business objectives, DRM systems can better demonstrate Return On Investment.<\/p>\n

In terms of DRM technical capabilities around records management, Butler found little difference between vendors. Most DRM vendors either comply with or have been certified by the Department of Defense for 5015.2. Many vendors differentiate themselves by offering ECM functionality integrated with standard records management, including capabilities like Business Process Management, digital rights management, scanning and imaging, email archiving, and output management.<\/p>\n

Butler cites a study from Datamonitor that the ECM market was $1.6 billion in 2006 and expected to grow to more than $3.5 billion by 2012.
\nOf the total ECM market, 63 percent are using traditional Document Management and 37 percent are using enterprise search, portals, content integration, and Information Lifecycle Management.<\/p>\n

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Butler Research has recently updated their Document and Records Management (DRM) technology report, their first update since February 2005. Their conclusion is that while DRM technology hasn’t changed that much since their last report, their is a lot of activity…<\/span><\/p>\n

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