Enterprise Content Management implementation leads to an excellent return on investment. However, getting that return may start with different activities. Automating AP, using data analytics, and using ECM with compliance demands are all notable methods to get a return from ECM.
“The benefits of adopting any evolving technology must outweigh the costs. Nucleus found that for every dollar a company spends on ECM, it gets back $7.50 – up 23 percent from just 2 years ago. The analysis covered organizations from a broad range of industries and included small, medium, and large enterprises.”
When implementing an ERP solution, a company must have the right guidance. Companies should look into creating a steering committee to prevent the project from derailing with cost overruns and delays. The committee should be composed of multiple company executives to guarantee a commitment from all involved.
“The steering committee should be made up of several members of senior management, especially executives if the company has any. The reason for this is to ensure that the implementation team as a whole has full support and backing from the company leadership, while at the same time being kept under certain control.”