Novarica ACE Rankings: Shakespeare Meets Insurance Software Solutions

“What’s in a name?” Our dear Romeo and Juliet asked the same question. Understanding the answer to this query was a struggle for these star-crossed lovers – and is a contemporary concern for modern-day insurance technology buyers (follow me on this one). With so many buzzwords and acronyms surrounding us, understanding IT and even more so, enterprise content management (ECM) can be a challenge.

Recently, Novarica’s Average Customer Experience (ACE) Rankings  were published (congrats to all the vendors ranked!). After looking at the category Hyland was ranked in – Document Management – something I’ve often considered finally clicked in my head. When it comes to ECM in insurance, most of us are still asking the same question as our Shakespearean friends, “What is in a name?” Document management? ECM?  Imaging? Workflow? Records management? Collaboration?  What’s the context for all of these terms?

Here are just a few points to consider:

  • “ECM” means different things to different people and organizations
  • With a turbulent market, acquisitions, such as a services vendor purchasing a document  management shop, can make it more confusing
  • What business problem you trying to solve?

I ask these questions, because after looking at solutions that were grouped together in the ACE Rankings, especially in Document Management, like solutions weren’t being compared.

But, for the buyer, that’s okay – as long as they realize that rankings like this are simply meant to act as one snapshot of the market. The more important research in identifying what kind of ECM solution you need..  What business problems are you trying to solve? Where will the solution be deployed?  Who will be using it? Can it provide value throughout your enterprise?

Again, rankings are just the start to helping you answer these questions and become an ECM pro.

Another suggestion: turn to your peers!  With so many communities available, people just like you can solve the “what’s in a name” puzzle. Firms like Forrester, AIIM, Gartner, and Celent can give you the basics, propelling you to be the trusted advisor in your organization.

And, after all of your extracurricular reading, you will realize that the question all along wasn’t “what’s in a name?” It was “how does that definition of ECM software apply to me?”  

Insurance ECM pros, what tips can you give organizations in the market for a solution that are sorting through all of the nomenclature?  

Stay tuned for more tips and tricks through the ECM landscape.  It will have you smelling as sweet as a rose, or something that would smell as sweet!

Lindsay McCune

Lindsay McCune knows a little bit about a lot of things. Chatting with analysts and customers, soaking up happenin' trends and sharing what she learns with you is all in a day's work. She walks the line between business and technical. Go ahead, pick her brain. She is pretty connected; check her out on Twitter (@LindsayMcCune), LinkedIn (linkedin.com/in/lindsaymccune), or good 'ole e-mail (lindsay.mccune@hyland.com).

2 Responses

  1. Hi Lindsay,

    The ACE Rankings aren’t designed to cover all the vendors in a specific sector. If you’re looking for how we think about ECM in insurance, I’d suggest this executive brief, titled “Deconstructing ECM for Insurance”

    http://www.novarica.com/report_deconstructing_ecm/

    Thanks, and congrats on the strong client feedback in your ACE Ranking.

    Matt

  2. Matt,

    Thank you for the feedback! We agree that ECM is composed of a variety of technology solutions that impact the business in different ways. Your report does a nice job of explaining how these solutions tend to benefit an organization (operational efficiency, customer experience, etc.). Hopefully my blog post and your research can aid someone who is educating themselves on all that ECM has to offer. As there are many terms and jargon regarding ECM, my goal was to provide some context and points to ponder. For those of you interested in learning the answer to, “What is ECM?” ( http://www.aiim.org/What-is-ECM-Enterprise-Content-Management ) associations, such as AIIM, can provide some color too! Attend a local seminar (http://www.aiim.org/Events/Seminars ; East Coast cities will have the opportunity in the fall) to join in the conversation!

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