Documents and records are of vital importance in any business enterprise. Business success and operations hinge on the availability of the correct document and records. Enterprise content management ensures that businesses get such digital content when required. Enterprise content management is a set of defined processes, tools, and strategies which allows businesses to efficiently obtain, store, organize, and deliver critical information to its employees, customers, and business stakeholders. It helps companies to streamline the lifecycle of information including image files, documents, CADs, emails, and more. ECM helps organizations build a centralized repository of structured, unstructured, and semi-structured information, which can be accessed later by authorized users. It helps simplify storage, improve security, and provide better control over different versions of documents. The recent surge in the volume of unstructured data has driven the demand in the enterprise content management market. The recent procurement market intelligence report from SpendEdge anticipates the market to grow at of 23%. So which are the top companies that are competing in this growing market?
IBM is a multinational technology company having operations in over 175 countries. The company invests 6%-7% of its annual revenue each year for R&D that focuses on high-growth and high-value opportunities. IBM’s Enterprise Content Management (ECM) software suite can capture, analyze protect, activate, and engage with content, both structured and unstructured. Their ECM service includes content management, document capture and imaging, and workflow and case management. The company also offers content management systems (CMS), which is cloud-based. In January 2018, IBM and Salesforce announced the expansion of their strategic partnership to bring together IBM Cloud and Watson services and Salesforce Quip and Salesforce Service Cloud Einstein.
OpenText operates in the Enterprise Information Management market and develops enterprise software for digital transformation. The company offers software that assists organizations in finding, utilizing, and sharing business information from any device. The company also helps companies ensure information security. The company offers a host of content management products including applications, solution extensions, product extensions, and industry extensions. In early 2017, OpenText acquired Dell EMC’s content management division making it one of the largest player in this market.
Hyland is a software company that develops ECM and process management software suite known as OnBase. This suite finds application in industries such as insurance, public sector, financial institutions, higher education, and healthcare. The company enables organizations to navigate from digital information to digital transformation. Their cloud-based ECM solutions offer multiple deployments, test and sandbox options.
Oracle provides products and services that address all aspects of corporate information technology environments, including applications, platform, and infrastructure. The company has over 400,000 customers worldwide, in industries including engineering and construction, healthcare, financial services, banking, public sector, logistics, communication, and life sciences. Oracle offers cost-effective enterprise content management systems encompassing end-to-end content lifecycle management. Their ECM system provides data management, imaging, content publishing, records management, and digital asset management features.
To get a full list on the top vendors in the enterprise content management systems market along with supply market insights, procurement challenges, pricing models, and supplier selection criteria in SpendEdge’s upcoming report on the global enterprise content management market.