Staying Afloat during an Economic Downturn:

Why ECM is a “Must-Have”

By James Thumma, VP of Sales and Marketing, Optical Image
Technology

(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 decline

are all around us. Financial markets are spiraling, credit is difficult
to obtain, customer spending is down, and businesses and consumers
alike are altering buying habits. You have to find ways to cut costs.
Ideally, this involves finding ways to increase sales while decreasing
overhead 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 operations
running at peak efficiency? It may seem counterintuitive to consider
implementing enterprise content management (ECM) software at 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 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 electronic
repository along with JPEGs, audio files, electronic forms, and other electronic media.
Undoubtedly, a simple conversion from paper to electronic processes will result in improved
efficiency. However, to get the most bang for your buck, look beyond your immediate gains
and take your business processes to the next level.

Prior to your conversion, analyze your business processes. You may be enticed by the initial
improvements that you receive with electronic access, but don’t assume that your work is
finished at this point. The real payoffs are associated with
It may seem counterintuitive to business process management (BPM). Enlist the help of a
consider implementing enterprise professional if you need to—even when finances are tight, an
content management (ECM) software investment in process analysis will pay huge dividends down
at a time when logic dictates that the line.
you rein in your spending. However,
by investing in high-performance
High performance ECM software offers the flexibility and
ECM software now, you can position
yourself with the tools that you need extensibility to integrate with your existing software systems
to thrive during uncertain financial (administrative, customer service, student information
times. Initiatives that you take during system, accounting, billing, etc.). It will even allow you to
lean times will leave you poised to access and use information that is currently stored in legacy
surpass your competition when the or proprietary systems. A process analyst can examine your
economic picture turns. existing software infrastructure, and can help you design
blueprints that ensure a smooth flow of information.

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 Automation and BPM are the tools that will revolutionize your processing abilities. BPM
allows you to electronically route your documents behind the scenes, delivering them to the
right person at the right time for processing. When you are unencumbered by the constraints
that are associated with paper, your productivity is unlimited. A Web-based system ensures that
authorized staff can access information remotely, from any browser. Satellite offices, remote
workers, 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 becoming
more stringent with each passing year. A transition to electronic processes—by definition—
demonstrates an effort to improve privacy, security, and accountability measures. When you
have ECM software in place, you are able to produce information upon request without having
to conduct exhaustive searches. In addition to simplifying potential eDiscovery requests,
this ability also significantly minimizes costs related to
Prior to your conversion, analyze your regulatory audits.
business processes. You may be enticed by
the initial improvements that you receive Records management tools are inexorably linked with
with electronic access, but don’t assume compliance. Automatic retention and disposition are
that your work is finished at this point. The key elements of a records management strategy. When
real payoffs are associated with business you are able to automate your retention and destruction
process management (BPM). Enlist the schedules, you remove the potential for human error in your
help of a professional if you need to—even compliance initiatives. ECM guarantees that records are
when finances are tight, an investment in
not destroyed prematurely and are not kept beyond the time
process analysis will pay huge dividends
period that is mandated by law. ECM provides the security
down the line.
to ensure that your records are secure and that HIPAA
mandates 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 system
offers you the capability to compete with giants in your industry. As you grow, the software
grows with you. Larger organizations can begin an implementation in one department, and roll
out a solution to the entire enterprise.

Regardless of your size, one way to get the most from your ECM investment is to use the
software to simplify your back-office and administrative processes. You can use your ECM
solution to process job applications, contracts, credentials, benefit enrollment documents, health
awareness communications, personnel files, policy paperwork, and other documents that are
associated 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 the
Web. Electronic information can then be captured and routed, and customer records can be
automatically updated—all without the need for human intervention. In addition to simplifying
your processing, offering your customers the opportunity to submit paperwork online increases
overall 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.

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The overriding consideration
It goes without saying that you have to implement software that is easy to use. I’ll say it anyway.
You can have the best functionality in the world, but if your ECM system is not adopted by your
end-users, it is a wasted investment. Look for a system that is easy to use and intuitive. Ideally,
it should work behind the scenes so that your users can continue to work within
their familiar applications.

Regardless of the economic conditions, you have to watch expenditures if you want
to stay competitive. If you are thinking that an investment in technology would be
cost-prohibitive, consider a consultation with an ECM specialist. A business process UNCERTAINTY
analyst can give you an idea of the specific benefits that a transition to ECM can AHEAD
offer your organization. Recognize that the investments that you make now will
pay great dividends immediately as well as when the economic pendulum shifts.
There is certain to be a high performance ECM solution on the market that can meet
your budget. Don’t let the economic conditions of today stand in the way of your
profitability tomorrow.

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For information about how Optical Image Technology’s DocFinity® suite of enterprise
workflow and document management software can improve efficiency for business, please visit
our website at www.docfinity.com, call 814.238.0038, or email us at info@docfinity.com.

©2008 Optical Image Technology, Inc. All rights reserved. DocFinity, IntraVIEWER, and XML FormFLOW are trademarks or registered trademarks
of Optical Image Technology, Inc.

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