So You Have More Than One Taxonomy?

When corporate departments spawn multiple DMS, DAM, and CMS applications, enterprises face a particularly vexing problem: how to reconcile all the various, siloed metadata repositories. Without some way to map taxonomies and schemas, a more customer-centric information strategy at the enterprise level may become prohibitively daunting. Of course, you could put all your corporate librarians in a room together to hash out common semantics, but they will be the first to remind you that taxonomies are living, breathing things. So what they really need is a system to reconcile disparate -- but inevitably quite related and even duplicative -- taxonomies on a regular basis. A new company called SchemaLogic has developed server software to do just that; it ties into major DAM / CMS vendor offerings to provide a common workspace for metadata and schema managers to update and reconcile structural models. This is all very new stuff (SchemaLogic cannot yet boast a reference implementation), but we expect content integrators and major CMS players to start OEMing this technology, or something like it, relatively soon....
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ECM Standards in Perspective

In real life I don't see ECM standards proving particularly meaningful, and you should see them as a relative benefit rather than absolute must-have.