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Banking

Take Your Enterprise Content Management System Back to the Future Using Your Legacy Data

Jason Mayhall
Sep 13, 2022

The future of data and content management is upon us. To get the most out of the new technology and processes, you must take your legacy data and reinvent it.

You won’t need any plutonium, a flux capacitor, or Doc Brown to correct the data of the past. Here are some things you can do today to explore your past data and blaze into the future with your Enterprise Content Management data archives.

Single Repository

As the Enterprise Content Management world moves into open Application Programming Interface (API) and integration, the need to take multiple legacy data archiving systems and move them into one single data storage solution is greater than ever before.

We all know the risk and cost of maintaining multiple data systems, such as hardware failure and the cost of retaining access/maintenance fees. By moving your legacy systems into a single repository, you can add value, peace of mind, and save money.

Putting legacy data in your current Enterprise Content Management system will allow your data to:

  • Be used in any analytics, workflow, retention, or other efficiency-boosting processes
  • Provide you with a global retention policy

Enrichment

Take your data into the future by improving it and you’ll see benefits. If your legacy data doesn’t contain index information that’s readily available in your core or other systems, you can add that information to it when you move it to your Enterprise Content Management system.

Inserting missing indexes it will allow you to easily search and analyze your data – making it a part of all your current Enterprise Content Management processes – something you can’t do without moving it. Don’t simply convert your data, make your data better.

Cloud

As we all know, the future of data and content management is the cloud. No more supporting your own hardware, virtual machines, or storage space. It's worth your time to consider moving your Enterprise Content Management system to the cloud along with your legacy and data archiving systems.

With cloud-based systems that can be accessed on any type of device with no footprint, all your legacy and Enterprise Content Management data is integrated together. In addition, you can access all your systems at the same time with a single search – taking you from zero to 88 mph in no time.

Work From Home

By consolidating your Enterprise Content Management and legacy data and moving to the cloud, you can easily keep your staff home and safe without jeopardizing efficiency.

When you consolidate you’ll be able to access all your data from any device, anywhere – removing the need for an employee to drive to the office to research an Enterprise Content Management or data archiving system. This modern approach will also speed up customer interactions, audits, and general backroom research.

Integration

With all your data sets in a single or hybrid Enterprise Content Management system, integration through open API to other products will take you far into the future and transform your financial institution.

Your loan origination, customer relationship management, mortgage document preparation, and other systems can be greatly improved with data integrated tools by not only enriching the data that’s in your current Enterprise Content Management system now – but past and future data, too.

You already have your statements and checks accountholder facing, so why not make their other documents viewable too? By utilizing data integrated tools, your data becomes easily accessible in a single repository and readily available to your accountholders and other products – further enhancing your data and allowing you to better serve your accountholders.

Ease of Use

By removing multiple legacy systems and putting them in a single repository, you will open the doors to productivity gains from your staff and systems:

  • No more risky, outdated hardware on its last leg.
  • No more maintenance fees on the systems.
  • No more restrictions due to the limited indexes.
  • Faster and more productive audits.
  • Global retention guidelines for all data to keep you in regulatory compliance.
  • Single search capabilities that reach all your data rather than digging through multiple systems.
  • Improved data analytics, document tracking, and workflows

Ready for the Future

There is no need to keep letting your legacy data bog down your operations. By revitalizing your legacy data sets and moving them into your current Enterprise Content Management system your staff and institution will be empowered and prepared for the future.

The immortal words of Doc Brown ring true for your data – “Your future is whatever you make it, so make it a good one.”


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