February 28, 2023
Is your organization looking for ways to improve productivity that will also boost employee satisfaction?
Technology has made this a no-brainer. Literally.
Managing data integrity, organizing vast amounts of files, and sifting through all of them to harvest data — these are chores that most humans intensely dislike, and if we’re being honest, we’re not too good at them.
But computers are good at these tasks, and they’re getting even better. Artificial Intelligence (AI) has improved Enterprise Content Management (ECM) platforms so much that what was a $47.29 billion market in 2020 will reach $105.56 billion by 2026.
Wait…What’s an Enterprise Content Management Platform?
An Enterprise Content Management (ECM) platform is software that helps you organize and manage content throughout your organization, like a virtual librarian.
And if you’ve ever spent over ten minutes searching for a single file — or the right version of a file — then you already understand the need for this software.
What Is Artificial Intelligence?
One could go down a rabbit hole with this one, but for the purposes of this blog, artificial intelligence is a computer’s ability to use data to make decisions and “learn” from past experience or new information. Virtual assistants like Alexa and Siri are great examples of how computers use artificial intelligence to make better, more customized suggestions for you over time.
Today’s ECM platforms use AI for similar purposes, so they can communicate with you better, accomplish more tasks, and learn to anticipate your needs.
4 Places You’ll Find AI in Action in ECM Platforms
Today’s ECM platforms are using AI in four ways:
- Process automation
- File security
Let’s do a little more digging on each of these.
How much time does your staff spend trying to find specific files? If you don’t use an ECM platform, it’s probably more time than you’d like. According to a recent survey, 58% of office workers said searching for files and documents is one of their top three workplace problems.
It’s tempting to assume that younger generations will have an easier time finding files quickly, but this survey also indicates that the opposite is true: Millennials are much more likely to struggle than Gen X workers and Boomers.
Through machine learning and data mining, AI can help users find what they need quickly. It’s a great boost to daily productivity, and it can dramatically improve your onboarding process.
Poorly performing chatbots have given this technology a bad name, but some ECM platforms have added whip-smart chatbots to the mix, and much like Alexa or Siri, some even respond to voice commands. These bots can help you find the latest version of a file, pull all documents related to your search criteria, and much more. Plus, the more “experience” they have, the better they’ll get at working for you.
3. Process Automation
Contract renewals, approval processes, internal review processes, and the like can be challenging for busy people to track manually. ECM platforms are now turning to AI to route and classify documents based on their contents so important invoices and contracts, for example, don’t fall through the cracks.
4. File Security
Does your business have to handle large amounts of sensitive data? If so, you’re going to love this. A modern ECM platform can now use AI to find content that might be in violation of HIPAA or other regulations. AI can also spot suspicious activity like sudden massive downloads or suspicious logins to help you reduce your risk of data theft.
Getting Started With Automation in ECM
Productivity and security are often at odds these days, but ECM platforms are one of the few tools that can help with both while also improving the employee experience. If you’re considering an ECM platform, however, you now have an additional task, which is finding the right one. The solutions we’ve found work well for our clients include M-Files and OnBase by Hyland.
These platforms have overlapping features, and while the size of your organization can help narrow it down, you can save yourself a tremendous amount of time by talking to one of our ECM experts. They’ll ask you about the other tools your business uses, how your staff uses them, and what you’d like your ECM platform to do for you.
No pressure — but we’re happy to help point you in the right direction!