Building a Strong Foundation for Global Enterprises: 4 Pillars of an ECM Platform

Data is the lifeline of every successful organization worldwide. Global enterprises rely on vast information stored in various formats – documents, images, videos, and more – for their day-to-day operations. Managing this ever-growing content pool efficiently is crucial for building a successful empire. A centralized platform with the capabilities of effortless searching, instant access, and seamless navigation can simplify information management. This is where the Enterprise Content Management (ECM) platform steps in.

With every piece of critical information readily available, regardless of its origin or format, organizations can achieve significant operational improvements. Moreover, with the help of the ECM platform, enterprises can empower their employees to focus on meaningful tasks.

A 2023 Gartner survey stated that around 47% of digital workers face difficulties in finding information or data needed to perform their jobs effectively. In fact, a whopping 83% of workers end up re-creating a document that already exists.

A McKinsey report found a concerning trend that employees spend an average of 1.8 hours daily, or roughly an entire workday each week, searching and compiling information. Furthermore, an IDC report revealed that a knowledge worker spends about 2.5 hours per day, or roughly 30% of a workday, searching for information. This wasted time could be directed towards more productive work.

New research conducted by IBM and Ponemon Institute, a data privacy and protection research firm, found that the average cost of a data breach in 2024 is estimated at $4.88 million. Legacy content management or process automation tools can make organizations vulnerable to cyberattacks, impairing their progress.

Challenges of Traditional ECM Systems:

• Segregated workflows: Complex and time-consuming integration with existing workflows and applications affects productivity
• Organizational impact: Data migration during implementation is challenging, leading to inconsistencies and impacting searchability, retrieval, and overall integrity
• Lack of collaboration and version control: Multiple versions circulating among team members create confusion and hinder efficient collaboration
• Content siloes: Fragmented content across multiple applications and systems makes it difficult for employees to find information quickly
• Data security concerns: Vulnerabilities in legacy systems expose organizations to data breaches
• Compliance challenges: Difficulty keeping pace with evolving regulatory requirements

Introducing the Era of Next-generation ECM Platforms

1. Contextualizes Content through Integration: Traditionally, content management platforms have supported critical business applications, such as enterprise resource planning or CRM systems. Enterprise architects and governance leaders continue to seek cloud content platforms with robust app integrations and capabilities as a trusted repository for corporate content

2. Content Analytics: Advanced analytics and reporting capabilities provide valuable insights into content usage and performance. Content analytics tools track document access, user engagement, and content trends. The data-driven approach focuses on content management strategies like optimizing document workflows, identifying outdated content, and improving user experience

3. AI-powered Content Creation and Management: Generative AI helps create fresh content, while intelligent classification, sentiment analysis, and automation will unlock deeper insights from existing content, streamlining document processing and informed decision-making

4. A Broader Digital Workplace: Advanced content platforms solidify the foundation of modern and digital workplaces by including core components like productivity platforms, employee-facing HR apps, orchestration services, analytics, application integration, and a range of experience touchpoints, into their hybrid work module

NewgenONE Contextual Content Services Platform

Newgen’s ECM platform enables end-to-end management of enterprise content, from origination to disposition, and bridges the context gap in applications and processes.

The modernized platform improves content handling by providing intelligent tools to capture information from diverse sources and ensure secure centralization. This repository becomes a wellspring of accessibility for content-rich applications and processes, enhancing operational fluidity.

NewgenONE, equipped with AI and GenAI capabilities, automates data extraction from diverse content, enabling real-time decision-making and scalable content management. It acts as a regulatory guardian for financial institutions, ensuring compliance and enhancing data security. With NewgenONE, organizations seamlessly merge content management with automation, enhancing customer service and operational excellence. GenAI-enabled NewgenONE Marvin categorizes documents swiftly and accurately and streamlines the organization’s lengthy processes. It also comes packed with important features like metadata auto-fill, natural language Q&A, and summarization to expedite content handling for optimized operation.