There’s no question that the US economy is still troubled. Whispers of a double-dip recession have been heard from Wall Street to Main Street, and it has some business leaders hiding their wallets under their mattresses. The market nosedive of 2008 is still fresh in our minds, and every business is hoping for the best while preparing for the worst.
A common management response to a potential downturn is short-term cost cutting. Though it’s important to watch cash flows carefully, being financially prepared does not necessarily mean a spending freeze. This mindset ignores long-term financial prospects, and does little to safeguard a business from future economic slumps.
Some of the best defensive measures a business can take are forward-looking investments. A carefully executed Enterprise Content Management System is a perfect example of this. On face value, ECM seems like an expensive route to financial prosperity, meant only for large corporations with almost limitless cash. But the long-term (and even short-term) benefits of an ECM system far outweigh these initial costs, and there are systems available that fit almost any size company and business need.
Stripping a company of its valuable employees or other key assets should always be a last resort for cost savings. A savvy manager will look to business processes first, and ECM streamlines this practice. ECM allows business leaders to take a close look at their information management, and pinpoint inefficiencies. Sometimes these inefficiencies present themselves as nickels and dimes on a micro-level. But, in the larger scheme of things, the removal of these small costs across an entire organization could mean the difference between net profit and net loss.
Getting started with Enterprise Content Management is all about having the right information. Attending an ECM conference such as Nexus is often the best way of finding the solution that fits your business’ needs. Whether you’re an ECM pro, or even if this is the first time you’ve encountered the acronym, Nexus ’11 has sessions that will deliver any of the information you want or need.
So go to www.NexusECM.com and find out how to save your business money while keeping your focus on the long-term.
Corporate Communications Manager