Enterprise Content Management Software
Enterprise Content Management (ECM) can be defined as a process of accurately defining, sourcing, integrating, storing, and effectively retrieving and reconciling massive amounts of enterprise documents and making the right document available at the right time.
360Quadrants recognizes the below-listed companies as the best Enterprise Content Management Software
Top 10 Enterprise Content Management Softwares 2020:
- IBM Corporation
- Hyland Software Inc
- Microsoft Corporation
- Oracle Corporation
- M-Files Corporation
- Xerox Corporation
- Alfrensco Software Inc.
- Newgen Software Technologies Limited
The vendor evaluations are based on two broad categories - product offerings and business strategies. Each category carries various criteria, based on which the vendors are going to be evaluated. The evaluation criteria considered under product offerings include breadth of offering, delivery (based on industries that the vendors cater to, deployment models, and subscriptions), features/functionality, scalability, and support (based on pre- and post-sales support services). The evaluation criteria considered under business strategy include reach (on the basis of geographic presence), industry coverage (on the basis of end-users that the vendors cater to), roadmap, channel, viability, and inorganic growth (on the basis of partnerships, collaborations, and acquisitions).
OpenText, Oracle, IBM, Microsoft, and Hyland are the leading players in the Enterprise Content Management Software (ECM) market and are recognized as leaders. They have a strong portfolio of best Enterprise Content Management software or platforms, and associated services These vendors are making their presence felt by offering software that is required by most organizations. These vendors have a robust business strategy to achieve continued growth in the market.
Xerox, M-Files, and Newgen Software are recognized as dynamic differentiators. They have a strong business strategy with an extensive channel network and reach. Over the years, the dynamic vendors have been consistently generating positive revenue growth in the Enterprise Content Management software (ECM) market with their product offerings. Moreover, their market position is enhanced by organic and inorganic strategies undertaken by them over the period.
Laserfiche and Alfresco Software are recognized as innovators. They have a wide portfolio of ECM and the potential to build strong business strategies for their business growth to be on par with the leaders. These vendors have been providing top Enterprise Content Management software offerings as per their customer demands. Innovators have been at the forefront in deploying their solutions for the niche and custom software requirements of the clients.
Objective Corporation, Everteam, Unisys Corporation, BCS Software Inc, Intralinks Holidng Inc, Fabasoft, SAVO Group, Siav, Digitech Inc, R2 Sistemas, BlueprintECM Solutions, Inc, SER Group, SpringCM Corporation, Docstar (Epicor), Systemware, Inc. are recognized as emerging players in the Enterprise Content Management (ECM) market. The emerging players are specialized in offering highly niche and tailor-made solutions and services to their clients. These companies enable enterprises to not only build and manage content-driven processes, but also support new ways of working to drive business results.
The major Solutions Covered in ECM
Enterprise Content Management software (ECM) analyzed are content workflow, document management, imaging and capturing, web content management, records management, digital asset management, mobile content management, case management, and eDiscovery.
Content workflow helps support various business processes and content routing. Enterprise content workflow management software automates business processes while sanctioning the efficient routing of files among employees and eliminating paperwork. Workflow solutions include functional process management solutions, which work within the ECM framework. Enterprise content workflow management tools are specially used for designing, modifying, personalizing, publishing, and managing the content generated within enterprises.
Large volumes of documents are generated within enterprises on a daily basis. This increases the need to manage and store the generated data. These days, the biggest challenge for enterprises is to digitize the documents and assemble them from different sources to provide a consistent view of enterprise data. The right information available at the right time from the right source can significantly improve the productivity of an organization.
IMAGING AND CAPTURING
Document imaging and capturing is a key process in the transformation and consolidation of documents. It creates a document repository and provides a uniform digitized view of the enterprise documents. Document imaging and capturing solutions are used to capture, store, and process various forms of enterprise content and deliver them in an electronic format to automate and control content-related processes. An organization’s ability to intelligently capture and manage documents determines how successful it will be at managing costs, delivering competitive products and services, and engaging with customers. Usually, documents form the core business area where large volumes of content are found. There is a growing need to modify, organize, and structure such content to seamlessly support scanning, imaging, and operations. Imaging and capturing solutions also help support content extraction, automatic indexing, and document handling. Centralized document storage, which ensures consistency, is crucial for maintaining the security of the electronic content. Moreover, enterprise document imaging and capturing solutions facilitate hassle-free retrieval of information from physical documents. Enterprise document imaging and capturing is crucial for maintaining an indexed location for the content and transforming print and data streams in proper readable outputs.
WEB CONTENT MANAGEMENT
The content generation has witnessed a significant increase due to rising internet consumption across the globe. The content generated in enterprises can be used to streamline business processes and reduce the overall cost of ownership. The increase in the number of eCommerce applications on a global scale has led to an increase in the need for content management. Web content management is a set of tools used by organizations to create, control, manage, and format web-based content. It is also known as online content management. The use of web content management helps organizations accurately manage content by allocating metadata for tracking. This ensures defined usage of web content and also links them with other assets in the repository. Web content management solutions automate and optimize the processes involved in web content production. They help enterprises enhance organizational efficiency and maintain a good stakeholder relationship by ensuring transparency and visibility.
Records management is essential because most enterprises are affected by mismanagement of records, including missing values, non-conformance to business semantics, repetitive records, and incorrect entries. Therefore, it is necessary for enterprises to put in place a proper records management framework to ensure business continuity. Enterprises across different sectors, such as BFSI, telecommunications, government, and healthcare, implement recordkeeping for various purposes. Records management is a cyclical process that enables continuous analysis, observation, and enhancement of enterprise records. Since most of the backend data is stored in databases in the format of a record, it is crucial to maintain data consistency and quality in records management.
DIGITAL ASSET MANAGEMENT
Digital asset management creates centralized storage for digital files and programs for archiving, retrieving, and searching for digital content. Digital asset management systems are a combination of software and professional services that provide a centralized repository for archiving, integrating, managing, and accessing digital assets, both documents, and their related metadata. Digital assets consist of images, graphics, logos, animations, audio/video clips, presentations, web pages, documents, and other digital file formats. Digital asset management is important for managing enterprise asset lifecycle. Digital content and metadata files are stored in separate databases; digital content is stored in the asset repositories, while metadata files, such as article keywords, contact names, photo captions, file names, low-resolution thumbnail images, and advertiser names, are stored in the media catalog database. Digital rights management solutions help catalog, search, modify, and retrieve assets for their permitted use.
MOBILE CONTENT MANAGEMENT
With the emergence of the Bring Your Own Device (BYOD) trend, the content generated by mobile devices is increasing at a faster rate. As the use of mobile devices is growing rapidly, it has become complex to handle mobile-generated content. Therefore, there is an increasing demand for mobile content management solutions. Mobile content management is a set of technologies capable of storing and providing secure content and services to various devices, such as smartphones, tablets, and Personal Digital Assistant (PDAs). Mobile content management helps enterprises store data on a centralized server in raw formats, and later these raw formatted data are delivered to various types of mobile devices in a device-compatible format. Mobile content management helps employees share, review, approve, write, read, edit, present, and perform countless work-oriented activities within seconds on their smartphones and tablets. Moreover, businesses consider mobile as a critical component of their digital marketing strategy and thus demand solutions that deliver optimized data.
Case management can be defined as the technique of processing a business case. A case refers to a collection of files, digital documents, and business workflow activities by knowledge workers or caseworkers. A case can be defined as a business entity that an organization possesses and which needs to be processed. Case management provides an intelligent and smart way of dealing with shrinking resources and growing business caseloads. Case management solutions are considerably important for managing enterprise content, tasks, processes, and services. They enhance the business productivity and efficiency of an enterprise.
eDISCOVERYeDiscovery can be defined as the process of identifying, collecting, and producing Electronically Stored Information (ESI) for particular civil litigation or investigation. ESI can be documents, emails, databases, voicemails, presentations, audio and video files, websites, or social media data. eDiscovery solutions include solutions for legal hold (legal hold prevents addition, modification, and deletion of data), early case assessment, data processing, and data production. These solutions and services help users to store electronic information that can be used as digital evidence in litigation issues. This information is also vital for enhancing the security of electronic documents and ensuring enhanced organizational e-governance performance. eDiscovery technologies and processes are complex due to the large volumes of the generated electronic data. eDiscovery is mainly used when court litigation or investigation affects the business processes.
Frequently Asked Questions
What is the market outlook for Enterprise Content Management software and how will it grow in future?Enterprise Content Management Market size is expected to grow from USD 31.7 billion in 2017 to USD 67.1 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 16.2%. ECM is the systematic collection and organization of information that is to be used by a designated audience such as business executives and customers. The exponential data growth, increasing need to manage data in enterprises and increased traction for risk mitigation in content management are driving the ECM market.
Which types of solutions are provided by ECM software?The solutions provided by ECM software are: Content Workflow, Document Management, Imaging and Capturing, Web content Management, Records Management, Digital Asset Management, Mobile Content Management, Case Management and eDiscovery
Which are the leading vendors operating in the ECM software market?Microsoft Corporation (US), IBM Corporation (US), Hyland Software, Inc. (US), OpenText Corporation (Canada), Oracle Corporation (US), Alfresco Software, Inc. (UK), Everteam (France), Fabasoft (Austria), M-Files Corporation (US), Laserfiche (US), Xerox Corporation (US), and Newgen Software Technologies Ltd. (India) are some of the leading vendors in ECM market.
Which solution of ECM software market will contribute the highest growth and why?The digital asset management segment is expected to grow at the highest growth rate during the forecast period. Digital asset management creates a centralized storage for digital files and programs for archiving, retrieving, and searching for digital content. Digital asset management systems are a combination of software and professional services that provide a centralized repository for archiving, integrating, managing, and accessing digital assets, both documents and their related metadata. Digital assets consist of images, graphics, logos, animations, audio/video clips, presentations, web pages, documents, and other digital file formats. Digital asset management is important for managing the enterprise asset lifecycle. Digital content and metadata files are stored in separate databases; digital content is stored in the asset repositories, while metadata files, such as article keywords, contact names, photo captions, file names, low-resolution thumbnail images, and advertiser names, are stored in the media catalog database. Digital rights management solutions help catalog, search, modify, and retrieve assets for their permitted use.
What are the current opportunities and challenges faced in the ECM software market?Opportunity: Deployment of content maturity model To manage content in enterprises and the quality of flow of data within organizations, enterprises are focusing toward effective ECM solutions. These solutions help in a variety of functions, ranging from how the staff collects data to the technology—to manage the content data and follow a content governance-focused approach. The content maturity model is a framework that takes into account the management of people, policies, and technologies in an enterprise, which is instrumental in establishing a strategic framework to achieve the business goals. Enterprise architects, information managers, and leaders of ECM initiatives can use the content model to analyze and assess the current position of their organization, and what level of maturity it must reach to achieve its business goals. A content maturity model is instrumental in achieving business process alignment, stakeholder alignment, content infrastructure management, and governance of varied contents. A full-fledged content maturity model minimizes the risk of failure by leveraging the content maturity model strategies in different levels of transformation an organization strives to achieve. This results in a dynamic approach to content management that grows with the organization and provides the best chance to align enterprise-wide content management strategic initiatives. Challenge: Rise in security issues associated with cloud and mobile technologies Content management solutions have greatly benefited from the collaboration of various platforms, such as cloud and mobile. Nowadays, SMEs are adopting cloud ECM solutions, as they are cost effective and can be opted on the basis of the pay-as-you-use model. However, owing to the sensitivity and security, associated with the enterprise content, controlling the flow of content and digital access rights is a major concern, with the possibility of data leakage of critical business information. Data privacy and security is a bottleneck that needs to be addressed effectively. The other security issues, such as hijacking of accounts, insider threats, malware injections, insecure Application Programming Interfaces (APIs), shared vulnerabilities, and data loss are more prevalent in cloud-based ECM solutions. Enterprises have large data repository containing important business data; any kind of cyber-attack on such repository can be a major loss to the business. These security issues related to data access by unauthorized users could threaten the enterprise data security and competitive business position, as well.
Which are the recent developments made in ECM software market?Some of the recent developments are: In March 2017, Alfresco announced new Digital Business Platform that combines process, content, and governance services, along with a new Application Development Framework for rapid development of engaging user interfaces (UIs). In April 2017, Everteam releases the latest version of its intelligent business process management solution, everteam.ibpms 8.1, which can automatically secure their business processes using latest web technologies. In June 2017, Everteam and Jeraisy Group upgraded their professional relationship to a “Platinum Partnership” through which Jeraisy Group became an authorized seller of Everteam products and solutions In February, 2017, Fabasoft launched new Fabasoft Cloud features which bring unlimited digital records management in an organization to a new level, in the enterprise and superior editions, forms can be defined individually, and processes can be executed by two or persons in parallel In April 2017, Iron Mountain partnered with Hyland OnBase to provide a solution that focuses on taking documents captured by Iron Mountain and making them available inside OnBase for workflows and business processes. In June 2017, IBM announced the launch of hybrid-cloud, all-flash family of storage solutions for mainframe users. This solution will help to automate the movement of data to and fro from the cloud In February 2017, M-Files acquired StreamDesign, a consulting and information management service provider. This acquisition has helped M-Files to expand its business footprint in France. Moreover, the company has expanded its service portfolio to serve its customer in a better way.
Best Enterprise Content Management Software in 2020
OnBase by Hyland is a recognized market leader in the enterprise content management (ECM) segment. OnBase manages enterprise content throughout the information lifecycle—from inception until archival and destruction.
OnBase pricing starts at $25,000 as a one-time payment.
OnBase pricing varies depending on the needs of the client organization. Users can create an RFP to gauge the type of ECM solution that their organization needs and the price of implementing that solution.
No information is available regarding free version or free trial for OnBase by Hyland. According to third-party sources, the company does not offer a free version or free trial.
Objective ECM empowers their clients with the ECM they need. Their solutions allow users to have greater flexibility. With Objective ECM, they are able it harnesses the power of their existing resources as well as tweak them to make them easier to work with. Objective’s ECM solutions are designed to keep the user in mind, which means it is easy to get started with this software.
With Business Computer Design Inc, businesses can manage their content efficiently. Their excellent service makes it easier for a company to succeed, deploy or archive their business content. With their services, users can easily find what they are looking for by searching for specific keywords or phrases. Hence, there is no delay in receiving the exact documents whenever a user needs them. By managing content efficiently, Business Computer Design Inc’s software helps organizations improve their efficiency and productivity.
With Fabasoft Folio, you can improve your business practices. Fabasoft’s Enterprise Content Management Software ensures that you can not only manage your content efficiently but also improve workflow and collaboration. With its unique business process management processes, an organizations efficiency can be improved. It helps in streamlining workflow so that users receive and send out relevant information to relevant parties, thus improving productivity. With Fabasoft Folio, it is not only easy to manage current content, but also to archive material as well.
Systemware Inc. helps its clients grow with the optimum business strategy. They provide all-inclusive content management software that allows users to be able to access their content at any time and from anywhere. Whether it is a legacy content or a third-party content, with Systemware’s Content Management Software, users can integrate their content repository. Systemware helps in make managing content an automatic process and reduces manual steps to organize content as far as possible. With Systemware’s services, it is easier to take control of your essential content.
DocStar ECM offers a better, faster and smarter tool for decision making. It stores paper documents and any native file type safely and securely in the system. DocStar ECM solutions integrate smoothly with existing software applications, making it easy to capture, store, and retrieve documents and content, anytime, on any device. It provides greater flexibility by getting installed on any servers or in the cloud.
Digitech PaperVision Enterprise helps to reduce inefficiency in paper-management processes. In paper-heavy teams such as the accounting section, the liability due to inefficient management poses a risk to the entire organization. Hence, Digitech PaperVision Enterprise helps to improve an organization's documentation organization and management. They help the organization turn their operations paperless painlessly and efficiently.
While dealing with each bit of information gets sent into this confusing plus rigid filing structure, it resides in its own silo. By sending the various team members via email or hard copy is critical to managing. Managing this tangle of information is an important aspect of each project, in addition to actually overseeing the work. Critical information, like amendments to drawings and other key updates, is Blueprint ECM has developed and deployed a solution that allows the clients to easily manage their projects and immediately surface all of the relevant content. Seamless project team collaboration and document transmittal keeps internal team members and external partners, vendors and trades in the loop and working from a common set of information at all times. And because Blueprint’s framework is built on the SharePoint Online platform, the additional overhead cost can be handled gracefully.