Written by- Priya Amaresh
Crystal Infosystems and Services
Every business set up today, whether small or big wish to implement and utilize certain tools to enable an improved workflow. This is an important factor why a number of business set ups across various industries are now employing Enterprise Content Management (ECM), Business Process Automation (BPA) and ERP integration to increase revenue and sustain in the market for a long time.
According to our survey, the top five industries which have taken a leap into the efficient world of Enterprise Content Management (ECM) are as follows :-
Healthcare
Enterprise Content Management helps to transform the traditional physical medical records into electronic, ‘virtual’ patient files. ECM software has the ability to remotely and securely access patient files and allows the healthcare providers with improved access to the information and make quicker decisions. A research reveals that a worker spends about two hours a day hunting for documents. Hence, now with ECM software, the doctors and nurses have more time for supervising patients rather than merely wasting time searching for record papers.
Manufacturing
Implementation of ECM in manufacturing industries has taken a leap in the recent years because workflow technology is a critical component in this manufacturing industry. ECM software aids in faster contract processing, greater visibility into Change Orders, and improved tracking of Purchase Orders and Acknowledgements. It also helps to gain increased control over Accounts Payable and, take advantage of discount opportunities. A firm can also blindly rely on ECM software for invoice matching and get a tracked proof of every delivery.
Education
The Education industry is under continuous pressure to maintain documents for extended period of time and at the same time have very minimum capital cost for the same. ECM software brings a sigh of relief to the institutions because it reduces labour cost significantly. The documents are stored in a secured environment without occupying a lot of physical space. Therefore many Educational Institutes today are opting for ECM software.
Insurance, Banking and Mortgage
ECM software proves to be very fruitful in the banking sector because the banks experience a competitive advantage over contenders. In the Insurance and Mortgage industry paper intensive processes like credit card application, mortgage disclosure documents are prone to human errors. ECM software automates the process into a streamlined human error free environment and ensures improved compliance
Legal
ECM software allows users to securely scan and store legal documents which include client files, E- mails and other important documents. It improves the overall operational efficiency, and at the same time reduces labor costs. One can also get rid of the physical storage space.