Although never before has so much content been produced in the world, how do companies deal with this avalanche of information?
According to the analyst firm IDC, there will be 175 zettabytes of data worldwide by 2025. A volume of data, content and information that is hard to imagine and that will not stop increasing. While this information is essential for most businesses, few are ready to tackle this meteoric surge.
The value of content is not to be underestimated. A Study conducted in 2020 by Onepoll for Nuxeo found that more than half of consumers (54%) would be willing to turn to a competitor in the event of an unsatisfactory digital experience. An experience that consists of the right product information, personalized content, relevant graphics and interactive multimedia resources.
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And content is important for all industries. The financial services industry is a perfect example of this shift towards digital models based on intelligent and agile use of content. A Study of Next Content for Nuxeo notes that nearly 75% of insurance customers have already requested certificates or documents through digital channels and that there is a growing demand for online sharing of photos, videos and claims-related reports.
In its many forms, digital content is already an integral part of business in most areas. The projected growth of this content raises important questions about how best to manage it in the context of digital transformation and enhancing the customer experience.
And the performance gap between companies that are ready to handle these volumes and those that are not ready continues to grow.
Content services to increase productivity and reduce costs
Companies have had solutions for classifying, storing, managing and using their content for many years. TheECM (Enterprise Content Management) is certainly the best example of this. These solutions help companies better manage their content, automate workflows, increase productivity and thus reduce costs.
A good ECM platform combines all of a company’s content in a central storage area and offers immediate access to the essential information that employees need. It eliminates some of the administrative tasks, makes compliance easier, and has become essential for many businesses. However, as the volume of content created by companies grew exponentially, the limitations of traditional ECM solutions emerged.
The more content has gained in importance, the more its uses have multiplied and Content services have proven to be a strategic approach to meet changing requirements. Content services encompass a wide range of technologies: file sharing and synchronization tools (EFSS), content federation, advanced search, artificial intelligence, and machine learning. The result is a much more relevant, agile, and contextual offering that offers businesses greater value.
Digital transformation and Covid-19
While content is the medium in which people exchange information, content services offer a much richer digital representation of content, with more detail and context, and the ability to use that information on a large scale.
This has become a crucial point as the world recovers from the pandemic we have faced for over a year. Even if the Covid-19 is not the origin of the digital transformation, it has accelerated the development of already existing trends. Many companies have been forced to rethink the digital experiences and interactions they offer their customers while their employees were stranded at home. With the ability to access these content services via the cloud, employees can continue to work regardless of their location, for example.
As a result, digital transformation initiatives have only multiplied and intensified to provide better experiences and reduce time-to-market for new products and services. Another consequence is that the experts who rely on the content and the business knowledge it contains on a daily basis have been able to increase their efficiency thanks to the automated processes and more relevant information that they have benefited from.
Content plays a vital role in all of these aspects of digital transformation, and content services are key to getting the most benefit from them.
The future of content services
Content is a critical component of business success, and companies need to find a way to make it available to the employees who use it every day and to the consumers who are looking for new products and services. Content must be at the heart of any business strategy. You also need technology that makes it easy to design, collaborate, and capture multimedia content to create new business models, improve the digital experience for customers, and drive innovation.
Content services play a crucial role in the future success of companies that want to find their place in our new digital world.