Document management systems (DMS), like other ‘legacy’ business applications, rarely feature among today’s key business applications. The technology that has underpinned enterprises for decades is not top of mind, especially as workplaces morph to accommodate the needs of today. And yet IT departments may be prioritizing applications and systems that foster remote collaboration, but investment in document management systems has remained high. In fact, according to Statista, the global market for DMS is expected to grow to $6.78 billion by 2023 — nearly doubling from $3.59 billion in 2017.
As the needs of enterprise workers change so must document management systems in order to stay current. Today that often means staying in step with the demands of remote workers and taking a content enablement approach. As companies continue to invest in DMS, they will be looking for solutions that can keep up with the pace of business change and user expectations.
How document management is changing
For much of DMS history, products have been focused on storage, but as far back as 2017, Gartner pronounced enterprise content management (ECM) dead, saying that the future would focus on “content services” — focusing less on pure storage needs, and more on creation and workflow enablement. DMS is changing in similar ways — and the shift has been accelerated as enterprises go virtual.
As remote and hybrid work becomes more commonplace, enterprises are investing in technology that streamlines business processes. Automating processes to free workers up for strategic tasks has driven many of these investments — along with cloud-based software that can be accessed anywhere and enables agility.
Focusing on content enablement
As the demands on DMS change, providers must think about their products as more than just repositories for content. With that in mind, companies are evolving toward a content enablement model. By providing a hub for more efficient creation of high-quality content — as well as collaboration, distribution, and management — content enablement solutions allow users to create assets that drive performance and make those assets available to revenue generating teams.
Successful adoption and onboarding is always a struggle for enterprise tools, especially as tech savvy users come to expect seamless integrations between the tools they use. That is why it is critical for content enablement tools to integrate with everyday workflows of the teams that depend on them most. In addition to automating mundane, repetitive tasks, content enablement tools can help users realize immediate benefits through browser plug-ins and integrations that are a regular part of workflows. The fewer barriers there are to adoption, the more likely it is that teams will fully embrace the tools at their disposal.
How content enablement can help increase revenue
According to Spotio, 81% of sales executives say content search and utilization is the “top productivity improvement area.” Additionally, Google sees searches for “Sales Enablement” on increase by 51.2% year over year. It’s clear that sales teams are struggling to find the content they need when they need it.
When sales enablement is implemented, organizations see a 15% improvement in low-performing salespeople. Why is access to content so important? In 2020, Salesforce reported “52% of customers expect offers to always be personalized — up from 49% in 2019.” Giving sales teams easy access to the content they need is critical to increasing revenue.
DMSs have an opportunity to position themselves at the center of everything enterprises do — becoming the hub that allows workers from a variety of teams to collaborate, distribute, and manage content whether workers are in the office or working remotely.
Find out more about best practices in enterprise content enablement.