Gartner reports that half of all enterprise content will be machine authored, as well as managed on hybrid cloud systems by 2018.
File synchronisation and sharing also are expected be a standard embedded Enterprise Content Management (ECM) business function, while over one-fifth of all businesses will be managing content from multiple organisations[1]. These realities emphasise the urgent need for businesses to update and future-proof processes by investing in systems that allow content to be smoothly integrated and easily accessed online, in order to remain competitive.
Across financial services, healthcare, manufacturing, legal and retail industries, the demand for ECM and Business Process Management (BPM) systems ) to be personalised and hyper-connected is rapidly increasing - magnified by the continuous rise in e-commerce and an increasingly agile workplace and consumer. Millennials are expected to make up 50 percent of the global workforce in less than three years[2], making seamless, hassle-free accessibility a key requirement forcing companies to reconsider current strategies and tools.
Legacy ECM systems, on which many businesses still operate, are unable to integrate structured content and unstructured data, creating significant issues for companies across sectors, including loss of data and inefficient processes. In addition, businesses are facing the pressing challenges of rising data center costs and increased security demand, as regulated companies want to maintain steadfast control of critical files while also avoiding the stress of massive data centers.
Adam Storch, Micro Strategies' Vice President of Business Solutions, comments: "Finding a content management platform that fits your business instead of changing it is key. This can be enabled by a modern core system that meets the needs of the company's vision, but does not impact the customers' system of records – which is increasingly being achieved with hybrid solutions. As the use of software as a Service (SaaS)-based ECM gains traction, businesses atop the trend are investing in virtual private clouds to better safeguard critical business data and reduce costs, with many companies to follow in their footsteps.
The cloud's ability to bring external stakeholders into internal business processes much more easily tackles a major pain-point for businesses today. Despite popular belief, sharing data and content with business partners is both secure and compliant, which is imperative for heavily regulated industries such as financial services and healthcare.
Storch continues: The digital workplace, an increasing trend toward mobility, and the influx of data require software systems that support information security and regulatory needs, are growing pressures in today's increasingly connected business climate. A hybrid solution allows sensitive data to be maintained behind enterprise firewalls in traditional in-house systems, while keeping other data on the cloud. Businesses harnessing their data management solutions on a hybrid cloud model are reaping the benefits of the seamless exchange of information between the public cloud and in-house systems, providing the best of both worlds for data security and remote accessibility."
[1] http://www.glocalvalue.it/public/Hyland-OnBase-Gartner-Reprint-ECM.pdf
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