Each year, manual processes, paper documents, and mailing expenses cost US financial services institutions (FSIs) over $80 billion (USD), which is a figure enterprise content management (ECM) can reduce.
Although a mere 10% of FSIs' carbon emissions emanate from paper, the perception of waste is multiple times larger for environmentally sensitive customers who expect "green" efforts.
ECM enhances business value by improving operational efficiency, customer experience, compliance, and risk management.
ECM spans diverse technology categories that fit together strategically under an umbrella of business process transformation.
Many FSIs use some form of ECM solutions, but these solutions often do not connect with other supporting technologies and fall short of the mark in delivering full business value.
Innovation in ECM lies in preserving information in its original digital form and in its ability to move information through a process, be stored, and be accessed digitally.
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