Due to the explosive growth of unstructured content and the introduction of disruptive cloud EFSS technology solutions, the ECM industry has become a poster child for vendor consolidation. As a result, customers utilizing ECM software have been required to undergo comprehensive software license and contract consolidation reviews. The reviews revealed that 100% of customers fall into one of the following categories:
Though compliant, customers are unknowingly overpaying millions in unnecessary software license and annual maintenance fees
Customers unknowingly violated vendor license terms despite previous in-house investigations that identified no issues
As companies migrate towards SaaS, IaaS, PaaS, and Hybrid-Cloud Solutions models, the decades old customer dilemmas that resulted in overspending, redundant systems, and reoccurring non-compliance violations is predicted by industry experts to become even more complicated, if not effectively resolved in advance by qualified advisors like HINDSIGHT
- Most ECM Customers currently overpay millions in annual fees due to not having the most efficient and effective terms in place for their companies intended use
- Compliant Customers – Do not understand how to restructure their terms to reduce ongoing annual maintenance cost and/or maximize their ECM software investment
- Non-compliant Customers – Paid ECM vendors billions in unnecessary license and ongoing services fees, and were labeled by other vendors as good candidates for audits
Potential return on customer investment
Institutional customers audited over the last 24 months could have avoided paying billions collected by the ECM vendors in associated software penalties and costs.
Corporate officers could have confidently validated that their company was in compliance with Sarbanes Oxley and SEC requirements.
Customers could have negotiated more favorable license terms and reduced annual software costs going forward.