Content Services Platform is an emerging method to logically and efficiently capture the information, which is further delivered to the right department or the process of using digital channels (typically through the cloud). Content Services is based in the cloud, therefore, it ensures that the businesses are addressing the changing the compliance requirements along with remaining cost-effective and scalable. Content services are a set of services and micro services that are personified either as a combined product suite or as an individual application which has common APIs and repositories. These content services are meant to achieve a diverse content type and to serve numerous constituencies and use cases across an enterprise.
What is content services platform?
Content services is a platform which can be assumed as the cloud-based SaaS software which further allows users to produce, share, collaborate on and store text, audio, and video content. These technologies are relatively new terms in gaining acceptance as a beneficiary to an enterprise content management (ECM) software. ECM and Content Services Platforms aim to resolve the challenges of enterprise content management, nevertheless, their approach to achieving these goals is very different.
Showcasing the emerging and dynamic nature of content services, the change from enterprise content management vendors to content services platforms and components, deviates the attention from ECM’s self-contained storage of content to actively using the content all across the content services platforms.
This relies widely on multiple open services which are interrelated and work collaboratively to properly understand how content can be used internally and externally for creation, collaboration and distribution of information enterprise-wide.
Why do we need the content services platform?
Content services platform enables the organizations to understand the value of the content and data which is accessible to them. Instead of separating the content in a separate repository, where this becomes inconvenient in accessing it, these services have a developed approach in connection with people, processes, and content across all the organizations along with their suppliers, customers, and other business partners.
Content services software facilitates companies to deliver the correct content to the correct person at the correct time. Users may access and interact with the content that they require from within the application which they utilize through tailored workspaces. The major content services platforms allow for low-code or no-code improvement of plug-ins which can decouple the users’ experience from the underlying content repository. The user may have access to personalized and dynamic content in relation to the context of the applications which are used by them regularly.
Application of content services platform in emerging industries:
- Banking, Financial Services, and Insurance
The banking sector is one of the most regulated industries as there are numerous regulatory compliances that the BFSI organizations have to adhere with. The banking industry happens to be the one which has witnessed several cyber-attacks recently. The BFSI industry generates large volumes of enterprise content from their day to day operations. The service vendors have a tendency of providing solutions and services on the basis of uniform best-practice processes to improve data security and decrease operating costs along with efficiently audit-compliant processes in observation of all relevant regulations.
- Government and Public Sector
Digital Design System (DDS) is a set of ideologies which offers leadership and support for government digital transformation efforts. Initiation of these principles demands for investment in the appropriate types of tools and platforms. DDS is a practice that has agile and repeatable components which are environment-friendly and further boosts the sharing of skills and data. Agencies look ahead to leverage DDS which again explores the content services with findings in philosophy and capabilities that allows their investments to achieve digital services and practices. Content services demonstrate the capabilities to meet the needs and handle the processes that drive government processes, services and programs.
- Healthcare and Life Sciences
In a clinical context, while numerous electronic medical/health records (EMR/EHR) manage an organized content, even the seamless systems cannot be managed in unorganized data such as paper documents, faxes, photos, images, and rich multi-media data contents which are generated across the care setting. In the non-clinical context, where ECM solutions complement operational, administrative, and financial information systems in a healthcare enterprise by making the end users to proficiently aggregate, store, and manage diverse content which is further generated across the enterprises.
Emerging trends and challenges in technology:
Social media, mobile, analytics, and cloud (SMAC) convergence are one of the most powerful trends for both consumers and enterprises across industry verticals. Companies include SMAC driven marketing plans for minimizing the expenses along with preserving resources. Also, the efficient use of analytical tools makes it suitable for enterprises to measure returns from each campaign. The growth realization is a result of leveraging SMAC, which not only generates a better market situation but at the same time, it leads to improved entrepreneurial initiatives. SMAC majorly supports the evolution of corporates and the growth of SMEs, besides implicating business growth. So the adoption of SMAC’s drives the market for Content Services Platforms Market.
Privacy of data and images majorly includes few concerns about making sure that an individual data is not available automatically to any individual or an organization where the people can exercise a substantial degree of control over that data and its usage. For one thing, big data breaches escalate the risk possibilities. Secondly, the more the information, the more personal or sensitive information it can contain. Areas where sources of information vary, allowing multiple opportunities for penetration.
Finally, the distribution of computed data, which is the sole way of processing the massive quantity of big data, opens up further with opportunities for data breaches. Privacy concern in relation to contents, images, etc. are hampering the growth of content services platform industry.
The bottom line
The growth in content services platform market is simultaneous, which gives an enhancement to the demand for services. Also, with these services, the implemented solutions are obtained in a cost- efficient manner in order to accomplish business processes keeping in mind the time frame and budget effectively. Additionally, at times these services are provided by channel partners who further strengthen the geographical reach of the software vendor.
The necessity for integration and deployment services is expected to be quite promising in the near future, which is due to the presence of different integrated platforms. Growth in adoption of content services platform solutions, the demand for supporting services is also increasing among end users. Content services platform services are mostly concerned with consulting, integration and deployment, and support and maintenance services. The Global Content Services Platform Market is being estimated to emerge as a market growth of 19.4% CAGR over the forecast period.