New Revenue for the New Economy: 2010
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Free Download - New Revenue for the New Economy: 2010 By HK Bain
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Do you ever get asked about storing documents
electronically? What about providing disaster recovery / business continuity
services for clients’ existing electronic information?
What if you could offer these services without the expense
or complexity of acquiring hardware, software or additional IT personnel?
Electronic content management (ECM) is a logical extension of the
records storage and disaster recovery services you already provide. As your
business recovers from what many economists are calling the “Great Recession,”
ECM can be the thrust you need to spark significant business growth in the
years to come. ECM is a growing market opportunity, with significant earning
potential, and it doesn’t have to be as hard as you might think to get started.
The Market for ECM is Exploding
The Gartner Group indicates that the $3.3 billion ECM market
will grow at a 9.5% compound annual growth rate through 2013 to a size of $5.1billion.[1]
This growth is fueled by organizations desire to reduce the costs associated
with managing paper and paper-based processes, to implement disaster recovery, to
enhance green initiatives and to comply with the plethora of government
regulations impacting every industry and company.
Growth is expected among current users as well. Forrester Research
indicates that 72% of companies who are already using ECM plan to expand or
increase that usage in the next twelve months.[2]
ECM is one of a handful of technology markets expected to show significant
growth during this economic recovery, and now is your chance to expand your
offerings with a complementary product that will result in business growth in
2010.
Recession-proof Your Business
ECM can complement your existing records
storage business by offering your customers additional, flexible choices on how
they want to store their data. For example, many organizations choose to store
current, frequently accessed data in an electronic format for secure online
access whenever it’s needed while keeping older, less-frequently needed
information in a records warehouse. The benefits to your business can be
significant, including improving your bottom line with a new revenue stream,
achieving sales targets, generating new sales from existing customers, and
improving customer service by expanding your service offering.
Many records storage organizations have already made the decision to add
ECM to their product offering, and they’re finding that SaaS ECM makes it even
easier.
SaaS Means Easy Implementation for You and Your Customer
What is Software as a Service (SaaS)? Rather than deploying
software on an in-house network, users access the application and their data
online trading capital costs and complex implementation for rapid deployment
and a monthly operating expense. It is also referred to as hosted, on-demand,
and cloud computing. SaaS is a smart choice for your customers in today’s
economic climate, because it helps in the struggle to do more with fewer
resources. It’s also a smart choice for you, because, you don’t have to become
a technology expert to add this offering to your product line. The manufacturer
manages all software, servers, and storage and is responsible for maintaining
system availability for your customers.
Analysts from the Gartner Group, Forrester
and Nucleus Research agree, that SaaS is a sustainable up trend for 2010 and
beyond. All three firms have included the growth of cloud computing in their
predictions, and Nucleus Research even claims there is “No sign of rain.”[1]
SaaS ECM services, like ImageSilo® from Digitech
Systems, provide all of the power of the most sophisticated ECM products, but
without the investment (for you or your customer) in the hardware and IT
expertise to manage it in-house. The manufacturers providing the software as an
online service also manage and secure the storage. You can leave system
upgrades and maintenance to them and focus your time and energy on what you do
best: finding and serving your customers.
Perhaps the biggest benefit of SaaS ECM is the security of the recurring
revenue stream. Unlike traditional software sales, that are transactional in
nature requiring you to constantly find new customers, on-demand services allow
you to get customers in the door at a friendlier, lower price point and then
provide ongoing service for them over time. You wake up the first of each month
with a built-in revenue stream from recurring billing to existing clients. Now
that’s living!
Finding an ECM Partner
Look for the following qualities in any manufacturing
partner:
- An
easy to understand pricing model that offers a lower point of entry for
small and mid-sized businesses
- A
flexible product that scales easily to any size organization and meets the
needs of a variety of vertical industries
- Out of
the box integration with Microsoft Office and simple tools to facilitate
seamless connections to a wide variety of other line of business
applications
- A full
suite of integrated ECM components including solutions for distributed
capture, print streams, email, and workflow
- Sales
support that offers a quick start for your staff and ongoing support
through marketing and sales materials
- Live
customer support with an excellent satisfaction rating
Choose a SaaS ECM partner who has:
- A
proven track record in the ECM industry
- A
strong availability history for their product over a period of years (99.9%
uptime minimum)
- The ability for your customers to maintain copies of their live data in
a secure, offsite location
- A manufacturer
who also allows you to provide software if your customer requires an on-premise
solution
It's never been easier to get into the content management business. SaaS ECM can help you to start today to reach your business goals.
[1] Nucleus
Research “Nucleus Top ten Predictions for 2010” November 2009
[1] Gartner
Group “Magic Quadrant for Enterprise Content Management” Oct 2009
[2] Forrester
Research, as quoted in
KMWorld “Bringing
on the info overload” February 2010.
New Revenue for the New Economy 2010 - To learn more about this author, visit HK Bain's Website.
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