ECM Software Market Will Reach $4.2 Billon in 2010

Due to the increasing need for companies to manage

content at the enterprise level, the worldwide enterprise content management (ECM) software market is expected to grow more than 12 percent per year through 2010, from $2.6 billion in 2006 to more than $4.2 billion in 2010, according to Gartner, Inc. In 2007, worldwide ECM revenue is projected to total $2.9 billion, a 12.8 percent increase from 2006.

The vast majority of the information a company has is unstructured data residing in word processing documents, presentations, rich media files, spreadsheets and other file formats. Companies must make this content available to workers, business partner’s customers, and applications across the organization to automate business processes, increase efficiency, reduce costs and repetitiveness, make employees more effective and gain competitive advantages.

“For many organizations, unstructured content is fundamentally out of control,” said Tom Eid, research vice president for Gartner. “Employees are creating all types of content for internal and external use with delivery through both formal and informal channels (such as wikis and blogs). While some of this business-specific content is now being managed through insurance claims processing, loan origination, case management and Web content management, the vast majority of this content is not being managed as an enterprise asset.”

Gartner analysts said many factors will shape the ECM market over the next several years. Vendors and the individual technology markets from which they come will continue to consolidate. The quality, performance and ease of use of software products will improve. ECM offerings will split into two tiers: broad, platform-based solutions will tackle heavy-duty chores, such as focusing on process-centric and mission-critical documents, such as compliance efforts, while streamlined basic content services (BCS) offerings will appeal to companies that need only entry-level functions, such as document security and library services.

“In many instances, it is appropriate to have BCS and ECM technologies being used together,” Mr. Eid said. “BCS will increase the adoption of ECM technologies. As more content is created, more content will need to be managed. As the content becomes more valued, it will become more of a corporate asset that is managed in a more comprehensive manner through ECM offerings.”

Convergence of Payments and Document Processing

Probably my most anticipated educational session at the TAWPI Show this August in Boston will be (believe it or not) taking place at 3:30pm on Sunday. If you haven't yet checked out the session's taking place on Sunday you better look again at the program. Some great stuff there.. The session I'm talking about is entitled; The Convergence of Payments & Document Processing- Opportunities & Challenges.

We've got some heavy hitters from the TAWPI board sitting on this panel namely Bob Young from Verizon, Joe Sass US Bank, Linda Dollens Indiana Department of Revenue, Mark Stevens OPEX, Bruce Wallace Wells Fargo and our moderator will be Doug Hartsema JP Morgan Chase.

What's more interesting however is the topic and really how much of a reality the convergence of payments and document processing is today. It is interesting for me to sit in the middle and look over both sides of the fence. With Check 21 becoming a reality it opens the doors to all sorts of providers out there to jump into the fun. Some vendors who have traditionally been looked at as only document capture guys cannot be categorized as such anymore like a, Kofax, ReadSoft, AnyDoc, etc. and other's who have been looked at more as strictly check capture folks, WAUSAU, Metavante, NetDeposit, J&B Software, Alogent, etc. are or will soon begin to cross-pollunate into both business applications. The landscape is getting hazy when it comes to who to go with for a check or document capture provider and more and guys who have never clashed against each other in RFP's will begin to do so. It won't matter anymore whether the document is a Check or an EOB.

Another interesting trend to think about in this convergence game between check and document and seems to be more under the radar screen are these large outsourcing check processing and remittance processing companies offering more traditional forms processing services on top of their check processing services. Not a far jump for them either. The thing is, I don't think the Service Bureau's who are strictly focused on forms processing are seeing this coming down the road...

Regardless, this session on Sunday shouldn't be missed.

TRUSTMARK NATIONAL BANK BEGINS LIVE PROCESSING WITH METAVANTE’S IMAGE EXCHANGE SOLUTIONS

Trustmark National Bank processing both incoming and outgoing image cash letters

Metavante Corporation, the technology subsidiary of Marshall & Ilsley Corporation (NYSE: MI), today announced that Trustmark National Bank has begun live processing with two of Metavante’s premier image exchange solutions. Headquartered in Jackson, Mississippi, Trustmark National Bank is a wholly owned subsidiary of Trustmark Corporation.
After a thorough competitive evaluation, Trustmark National Bank selected Metavante’s VECTOR: ImageEX™ and VECTOR: IQA™ to gain the operational and financial benefits of processing incoming and outgoing Image Cash Letters, as well as image-based items received from remote deposit capture locations.

Image Cash Letters are a collection of deposited check images transmitted electronically to Federal Reserve Banks or correspondent banks for presentment to the paying banks as images or substitute checks. Image Cash Letters reduce the transportation infrastructure needed to move paper checks, speeding the availability of funds by sending electronic images for check processing. Image Cash Letters also reduce check fraud by accelerating return item notifications, meeting a crucial need for businesses and financial institutions.
VECTOR: ImageEX and VECTOR: IQA go beyond traditional Image Cash Letters, providing Trustmark with additional capabilities such as duplicate cash letter and bundle detection, and deadline editing – to ensure that items are accurately sent on schedule. Since not all endpoints will be "image exchange ready," the VECTOR solutions can also create Image Replacement Documents (IRDs).

"Trustmark is now processing incoming remote capture X9.37 Incoming Cash Letters rather than just printing IRDs for these items," said Nick Anderson, senior vice president, Trustmark National Bank. "We’ve also begun sending transit items as outgoing image cash letters to the Fed and several regional banks. VECTOR: ImageEX and VECTOR: IQA are helping Trustmark automate receivables and shorten the traditional clearing and settlement process, and best of all, we have so far accomplished this with no errors or rejects."

"The strong momentum for image exchange continues to build across the country," said Brian Hurdis, president, Metavante Image Solutions. "Metavante Image Solutions was one of the first to bring image exchange solutions to the market and we remain a leader in driving the financial services industry to a more efficient environment for processing electronic payments."

Metavante Image Solutions provides comprehensive solutions that help banks and businesses transition from paper to electronic payments and image processing. Solutions that can be delivered in-house or outsourced include distributed capture, check and remittance processing, fraud detection, and document and report management. Customers encompass banks and corporations of all sizes worldwide from de novo banks to the largest financial institutions and corporations.

About Trustmark Corporation Trustmark is a financial services company providing banking and financial solutions through over 150 offices and 2,700 associates in Florida, Mississippi, Tennessee and Texas. For additional information, visit Trustmark’s website at www.trustmark.com.