4 Trends Shaking Up ECM Market In 2016
As mobile devices, social media and cloud computing become more ubiquitous, the ECM market is experiencing a tectonic shift. The rise of millennials is changing the way enterprise software is being perceived and used. ECM software is not different, it has come a long way and is now being tailored to meet the needs of this new demography of users and the rapid evolution in Information technology and how software is being delivered. Taking that into consideration, let’s discuss the four major trends that will shake the ECM market in the next one year.
1. Goodbye Legacy ECM Systems
Let’s put it this way. The future belongs to millennials. It is estimated that by the year 2020, millennials will form 75% of the global workforce. This new generation of information workers is techno savvy and wants to search documents as easily as searching for shoes online. They want solutions that are fast, whose user experience mirrors social networks, and are device agnostic. Legacy ECM solutions which already suffer from poor user adoption, being cumbersome and lacking features like B2B sharing and remote access are on their way out.
2. Extended Enterprise
The extended enterprise employs the concept that businesses don’t function in isolation and their success is built on a collaborative network of partner organizations. In today’s context, extended enterprise is being driven by the consumerization of IT by millennials who do not favor drawing a line between corporate and personal technology. Legacy ECM systems were built in a time when users and content both stayed in a tightly controlled IT environment. The next generation of ECM solutions needs to drive productivity, and enable information workers to collaborate and share content in this new evolving paradigm. They need to be able to operate seamlessly in both personal and corporate technology devices.
3. A supernova called Digital Content
Traditional content was limited to documents, excel sheets, SOPs and PDFs. But the rise of the internet propelled by the social network phenomenon has redefined the scope and scale of content created and distributed. According to the IDC, there will be a 50 times growth in digital content from 2010 to 2020. With the proliferation of smart phones and smart devices, we have the ability to collect data on everything from geolocation and social media usage to buying patterns and brand preferences. ECM solutions will need to have more intelligent features and be more intuitive if they are to store, classify and simply keep pace with the sheer volume of digital content being churned out.
4. ECM on Cloud and Mobile
With most organizations moving from on-premises IT infrastructure to the cloud, moving to a cloud based ECM solution seems almost a no brainer. A cloud based ECM solution is a cost effective alternative and enables lower overhead, elastic capacity management and lower CAPEX requirement. It also leads to better information management, responsiveness and scalability. For companies with a more distributed or mobile workforce ECM on the cloud is the ideal option as information can be accessed anytime, anywhere.
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