Enterprise Content Management – How to Determine the Cost of an ECM Solution for Your Company…
As a business owner you might be wondering how much an ECM will cost your company – and to be honest, it just depends. Costs will vary based upon your individual needs and how you intend for the ECM solution to function. Like anything you purchase, the options you add will play a major factor in determining the cost– while both serve the same basic purpose, each will have its own experience.
For you to get the best idea of what to expect your Enterprise Content Management solution to cost is by understanding the factors that go into pricing a system. Then you can assess your business needs and determine which would be most suitable.
So, before we go into how much an ECM will cost, let’s answer important questions that play a major role in pricing.
How Big Is Your Team?
One of the determining factors for the cost of an ECM is the number of users that will need to access the system. User licenses will be issued and each one costs– 30 users will usually cost double what 15 does. When reaching out to an ECM provider, be sure to let them know how many people on your team will need to have access to the system in order to fulfill their work duties.
What’s The Balance Between Service & Software?
Your company does not need just a software service– it needs one that can be modified to work as your company operates. In order to achieve that, you will need the support of an experienced team that can implement any customized components, integrations, reports, and more.
Some companies base their ECM purchases completely on cost, but soon realize that the services they need to maintain, train, upgrade, and a whole slew of additional add-ons are more expensive part of the service (but worth it).
When choosing a software, remember that it should be intuitive and easy to use to ensure that simple mistakes that may call for a service are avoided. Choose a provider that is able to configure their software to make it do what you need it to and that can set up templates for each department. Ask your provider any questions you have so that you are able to understand any services that might be necessary after the sale and get them in writing.
What Are The Start-up Costs?
You will find that there are different milestones associated with purchasing an ECM solution. In the beginning, there is a design phase during which you must agree to have a consultant provide a statement of work based upon their research and analysis of your company’s unique needs. This phase typically takes a month to complete.
Your proposal will outline what the projected costs are for implementation. This includes costs for the software, support team, any upgrades, and additional services.
In-House Or Cloud-Based Solutions
Choosing the type of solution will be a reflection of your company’s overall feelings on IT infrastructure and applications. There are pros and cons to both in-house and cloud-based solutions. Each company will have their own opinions on which model would be most suitable for their business needs.
In today’s world, cloud computing is viewed as the model created with the future in mind as most companies move that direction, an ECM solution can generally offer the same functionality for both options.
How Much Customization Do You Want Compared To How Much You Need?
Many companies approach our team with a long list of functions they want their next ECM system to offer. It is nice when we work with companies that have thought out how a new system can make their business operate more efficiently. While ECM software is modular, which means it has a base system that allows you to add features, it is important that you prioritize which functionalities you will need for your system to operate effectively. This is the best way to get an estimated price on the overall cost of the system.
However, there have been times when we have consulted with a company where we decide their problems are not complicated enough to warrant implementing an ECM solution yet. Maybe it’s because their operation is too small or only one department seems to be lagging behind and a simple document management solution will meet their needs. This is why it is important that you are working with a provider that is more concerned about meeting your unique needs instead of making a sale.
How Are You Expecting Your ECM To Grow?
As your company changes, it is likely that you will want to change or adapt some of your system’s functionalities. Many companies do this annually in an effort to keep their operations as efficient as possible. Discuss any potential add-ons as you anticipate growth during your initial consultation. You may have focused on addressing issues with accounting and HR at first but now that things are operating smoothly there, you might shift your focus to other areas that can help your continued growth.
It is common and normal that after a year of seeing the benefits of your ECM, you will want to make some modifications and utilize it in as many areas of your company as you can.
What Is It Costing You to Not Implement an ECM?
Sure, there is a sticker tag that comes with implementing an ECM solution, but not using the technology and services associated with it can cost you even more.
Questions you should ask…
- Are we allowing our competitors to gain an advantage because they are using ECM technology and we are not?
- Is our data truly secure?
- What does our employee retention rate look like? Could issues here be the result of increased frustrations over outdated software and inefficiencies?
- Are we experiencing lost production and an increase in downtime which is costing us money?
By implementing the right ECM solution, you can help solve a wide range of problems. As a business owner, you understand that without answers to these questions, it isn’t responsible to throw out a rough cost estimation. This is why we prioritize talking to our companies about what their short-term and long-term needs are in the beginning. This helps us identify the right ECM solution for them.
Information Consultants Can Create an ECM Plan for Your Company
Information Consultants ECM solutions provide the following benefits…
- Decreasing overhead costs of paper storage, office space and additional hiring.
- Streamlining operations by automating repetitive, manual processes.
- Managing all organizational content throughout its life cycle.
- Facilitating compliance with robust security and auditing features.
- Integrating seamlessly with the applications employees use everyday.
Contact us (305-434-7916) For A Consultation -or- Schedule a Demo Now!
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About Information Consultants
Information Consultants uses Enterprise Content Management (ECM) software by Laserfiche to help businesses create, organize, manage, and access all documents and forms through secure, easy-to-use programs. At Information Consultants, we work closely with each of our clients to consult, train, and operate Laserfiche in order to boost efficiency and profitability within the company! We are a leader in global technology services and solutions consulting based in South Florida with offices in Pembroke Pines and Downtown Miami.
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