What is Enterprise Content Management (ECM)?

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Many people define ECM in different ways like storing, retrieving and organizing the documents in a strategic way, Below are the few definitions I think which are very near to meaning of what is ECM?

Definition by AIIM:

Enterprise Content Management (ECM) is the strategies, methods and tools used to capture, manage, store, preserve, and deliver content and documents related to organizational processes. ECM tools and strategies allow the management of an organization’s unstructured information, wherever that information exists.

Definition by Wiki:

Enterprise Content Management (ECM) is a formalized means of organizing and storing an organization’s documents, and other content, that relate to the organization’s processes. The term encompasses strategies, methods, and tools used throughout the lifecycle of the content.

Below are the factors which considered  for the need ECM Products and Development

1. Using Best Practices to Manage

2. Easy way to Organize the Content and Metadata

3. Reduce the Cost to Company

4. Scaling the Application and Functionality

5. Increased Productivity and Efficiency

6. Minimizing the Risk