Many companies are eager to implement enterprise content management (ECM) solutions, which can save a business time, money and even energy consumption by simplifying the document management process.

However, to have the most success with ECM implementation, businesses should spend time developing a clear focus for their content management and information governance goals, said IT research and advisory firm Gartner.

One of the key factors in developing a successful ECM strategy is taking a total cost of ownership approach using a five-year time frame, in which software licensing should account for 5 percent to 20 percent of that cost, advised Gartner”s research vice president Toby Bell.

Furthermore, before deploying ECM software, business should eliminate old or duplicate content and develop a clear policy about content architecture, Bell suggested. They should also consider using content service providers and open source offerings, which can extend beyond just service offerings to provide consulting, outsourcing or other services.

Following these best practices can help a business get the most return on investment out of their ECM implementation, said Bell.

ECM”s ability to reduce operating costs should not be underestimated – recent research from TowerGroup found that document and content processing costs American financial institutions more than $80 billion each year.