Enterprise content management (ECM) has been on the verge of mass adoption—both at insurance companies and across the IT landscape—for years now, according to the recent State of the Industry survey from AIIM, the Enterprise Content Management Association based in Silver Spring, Md. However, even with ECM sitting on the precipice of popular adoption, AIIM finds that it still hasn’t tipped over into the mainstream of IT spending.
As cited in AIIM’s report, the Department of Commerce’s annual Information and Communication Technology survey found that U.S. companies spend $91.9 billion in non-capitalized expenditures and $141.6 billion in capital expenditures on IT each year. Of these expenditures, $78.9 billion is spent on computers and peripheral equipment and $104 billion is spent on computer software. In spite of this spending, AIIM President John Mancini believes the nearly quarter-trillion dollars spent on IT is disproportionate to the problem facing organizations relative to the management of unstructured information.
The survey polled 308 organizations (insurers accounted for 6% of respondents) ranging in size from one to more than 1,000 employees—53% in the United States—about their ECM knowledge in regard to information management. The majority of companies were not overly confident in their effectiveness in managing, controlling and utilizing electronic information.
(c) 2008 Insurance Networking News and SourceMedia, Inc. All Rights Reserved.
Register or login for access to this item and much more
All Digital Insurance content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access