As organizational transparency and the value of data continue to grow, companies that fail to fully leverage their own digital content will lag behind more savvy competitors. Nucleus Research found that for small to medium businesses, investing in content management returns around $14 in benefits per dollar spent.
The key value drivers for these solutions are increased user productivity and cost savings from redeployed staff or avoided additional hires
All organizations create, consume, and share digital content, yet most companies are slow to invest in upgrading, modernizing, or even sometimes simply deploying enterprise grade content management (CM) systems. For large enterprises, these systems’ importance is obvious – with thousands of people needing to collaborate and access shared content remotely, a business could not run without it. At first glance, it may seem feasible for a smaller organization to operate by sharing content directly using a traditional email, telephone, and hand-delivery system; however, for the business to truly scale and optimize efficiency, a digital solution that can securely organize, manage, and surface content is
Modern content management systems are far more sophisticated than most legacy sync- and-share applications. Along with document storage, these modern systems come with extensive capabilities such as permissioning to ensure that only designated users can access certain files, data extraction so the documents can be automatically scraped for relevant data and embedded analytics to extract insights from that data, business process automation like contract management, and collaboration tools to allow users to share and work together on documents and projects in real time.
Nucleus found that for small to medium businesses, defined in this case as organizations comprised of less than 500 people, each dollar invested in CM solutions returns around 14 AUD in benefits. To calculate the value that an SMB could realistically set out to glean from a CM solution, they examined 8 recent ROI case studies concerning small organizations deploying and benefitting from CM systems. They only considered the case studies within the past 4 years because cloud technology is a key value driver for CM solutions, and in years before that the cloud was not yet widely adopted, so the comparison would be inherently flawed.
Nucleus identified the main benefits from investing in CM technology are increased productivity, cost savings from redeployed staff and/or avoided hires, and reduced risk due to better records management.
The average productivity increase was 36 percent with one customer achieving a 70 percent increase; the most modest improvement was 20 percent. Post-deployment, with organized directories, document search capabilities, automation, and, increasingly, new capabilities built around document metadata, human agents can find and access content much faster, saving time wasted searching through messy directories or filing systems and allowing the agents to refocus their efforts on value-add tasks.
Cost savings from redeployed staff and/or avoided hires.
Every deployment studies for this report either redeployed staff or was able to avoid new hires. Because of the speed and ease of locating content and retired physical systems, companies can increase the scale without a corresponding increase in system complexity or cost. Often this allowed companies to shrink their content management teams or to expand their existing roles. One customer was able to shrink the department responsible for managing its digital content by 35 percent as a result of the efficiencies from the new deployment.
Reduced risk due to better records management.
In the high-risk modern-day marketplace, businesses can’t afford the risk of mismanaging customer or company information. By centralizing documents and leveraging new capabilities like process automation, companies can standardize the handling of privileged information with access and governance tools to reduce the risk of losing or mishandling it.
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