VENDORiQ: M-Files invests in AI
27 January 2021: M-Files, which provides a document and content management solution, has raised US$80 to develop an AI to analyse, categorise and manage enterprise information.
Why it’s Important
There are two forces driving the destruction of traditional electronic documents and records management (EDRMS) solutions:
- collaboration, which breaks legacy information lifecycles, and
- the explosion of information types and stores, which hinders the ability to have a single repository of digital records
When combined, it becomes clear that legacy EDRMS solutions are not only incapable of providing the flexibility needed to manage enterprise information is a way that enables new ways of working, but also cannot address the ‘mess’ (really, complexity) of these work practices.
Leading EDRMS vendors are looking to leverage AI to address this ‘mess’ by:
- analysing and automatically applying meta-data / classifications to information
- determining which information policies need to apply to content, and enforcing such policies automatically
- seeking out information across an organisation for the purposes of applying information lifecycle policies, e-discovery and security.
By investing in AI, M-Files is ensuring it remains relevant and able to compete in the future of enterprise content management.
- Information Managers
While legacy products such as TRIM (now Micro Focus Content Manager) remain in place and are being supplemented by add-on solutions (eg. Micro Focus Control Point), the future will be products with AI taking centre stage within the core information management functionality.
Organisations considering their future information management strategies must factor the disruptive impact of collaboration, including the Office 365 platform, and the ever growing amount, variety and location of information. EDRMS solutions that feature AI as a core component should be short-listed.
Related IBRS Advisory
- Disruptive Collaboration - Whiteboard Session
- Making work, work better: digitisation, digital workflow, & the new normal
- Teams Governance: Emerging better practices
- Planning your next generation Office Suite? Consider Records Management
- Records management discipline must not be ignored during digital transformation