6 Ways Content Services Platform Can Help Unleash the Power of Content

A content services platform is the ideal approach for optimizing business performance through efficient utilization of enterprise content. It can enable your organization to create, collaborate, share, transform, and leverage content for deriving business value.

The platform, backed with capabilities such as audio-video management, content analytics, cloud computing, records management, and others, enables secure document collaboration, facilitates anytime-anywhere information access, and helps derive valuable insights.

Unleash the Power of Content with Content Services Platform

Here are six ways in which a content services platform can help you efficiently leverage content:

  1. Ensuring Content Governance and Compliance: Ensure complete content governance for regulatory compliance. Create labels and policies, such as retention, disposition, and storage, to manage records while complying with various regulatory standards.
  2. Enabling Efficient Content Extraction: Extract critical data from paper and digital documents to enhance operational efficiency and reduce errors. Aggregate documents from disparate sources, make them legible, extract data with precision while continuously improving extraction accuracy.
  3. Facilitating Secure Information Access: Enable anytime-anywhere information access and real-time collaboration. Empower employees with smart search and intelligent recommendations.
  4. Driving Contextual Engagement: Capture, manage, and consume content generated in the context of business processes. Derive context from information, residing across various sources, and deliver personalized communications to customers across multiple touchpoints.
  5. Streamlining Content Lifecycle Management: Create, manage, share, and archive different types of content while enabling easy and secure access.
  6. Enabling Hybrid Records Management: Manage various records, including e-mails, physical, and electronic records, while retaining their integrity and authenticityCreate and manage multiple classification schemes for records that help in easy search and retrieval.

Video: https://youtu.be/ekOdKxJDTwAhttps://youtu.be/ekOdKxJDTwA

Source: https://newgensoft.com/blog/6-ways-content-services-platform-can-help-unleash-the-power-of-content/

Digital Transformation – Need of the Hour

Digital transformation has undoubtedly become a critical part of the boardroom agenda for organizations of all sizes and scales. Gartner states that organizations accelerate digital transformation processes for long-term growth and profitability. Yet: “53% of the organizations surveyed remain untested in the face of digital challenge and their digital transformation readiness therefore uncertain.”

But you can be ready to face the digital challenges by utilizing hyper-automation tools. The range of tools includes automation technologies such as robotic process automation (RPA), artificial intelligence (AI), machine learning (ML), natural language processing (NLP), optical character recognition (OCR), process discovery, and others. A digital transformation platform helps business leaders like you build a connected enterprise. These automation solutions will help by engaging employees, customers, and third-party across regions, functions, and departments through their preferred location, time, and channel. It helps fulfill your initiatives and bring together people, processes, and systems seamlessly in real-time. Furthermore, by leveraging an automation platform, you can transform your complex business processes, spanning across multiple siloed departments, dozens of disparate databases, and millions of files into unified and streamlined business applications.

Digital Transformation

How digital transformation platform helps business:

Optimize and Automate Business Processes

AI-driven digital transformation platform automates and streamlines end-to-end business processes, including content, processes, and communication. This hyper-automation technology allows you to do away with repetitive tasks and manual tasks and enable the business user to function at an increased level of efficiency and decision making. Using adaptive algorithms and advanced analytics, It can respond quickly to organizational demands, reduces business risks, and takes preventive actions based on AI predictive analysis. Furthermore, it helps improve service level agreements, enhance operational efficiency, and optimize operational costs by a significant margin.

Accessing Contextual Information

Organizations generate a high volume of content, making it exceedingly challenging to store, classify, mine, or draw insights from this information. Here’s where a digital transformation platform comes into the picture. The platform enables your users to access search content from federated repositories, maintain data confidentiality, leverage content-centric workflows to drive productivity, mine data and employ content analytics, and apply appropriate retention and compliance policies

Delivering Omnichannel Experience

Leveraging an ideal digital transformation platform, you can keep your customers engaged through their preferred channels, including mobile, web, chatbots, social media, etc. Furthermore, you can provide consistent interactions and customer experiences even if the customer switches the channel in-between

Developing Applications Faster

A robust digital transformation platform reduces time-to-market with drag-and-drop and point-and-click configurability to build and deploy applications faster. Low-code/No-code features empower you to expand your application portfolio by rapidly developing critical business applications and facilitating enhanced collaboration between business and IT teams

Key Takeaways

In a nutshell, an ideal digital transformation platform helps streamline content, automates business processes, accelerates digitization, and enables you to deliver a superior experience to customers and partners. It also empowers employees to focus on customer-centric activities while boosting their day-to-day productivity.

Source: https://newgensoft.com/blog/digital-transformation-need-of-the-hour/

Your Enterprise Needs Intelligent Content Services. Here’s Why

Traditional ways of managing content are now passe. The burgeoning amount of content being generated today is forcing enterprises to look beyond traditional ECM systems. Enterprises are now looking towards pervasive utilization of content. And this has spurred the need for artificial intelligence (AI) and machine learning (ML) based technologies in-built into content services platforms. With the pace at which the content services space is evolving, AI/ML and other modern technologies have long shifted from being “areas of interest” to the actual “roadmap items.”

Decoding Intelligent Content Services

Intelligent content services are about utilizing modern technologies to help analyze, organize, and deliver content at a larger scale. It provides opportunities like automated categorization and classification of documents, extraction of data, sentiment analysis, identification of sensitive content, and more.

Modern technologies like advanced OCR, NLP, AI/ML, and others have transformed the way content is handled. Enterprises now expect data to lead them in the right direction. For example, visual recognition services can now detect a missing signature on a contract seconds after it is uploaded, rather than waiting for days for a human to inspect its quality.

Intelligent Content Services Capabilities That You Can Leverage

  • Automated categorization and indexing of documents for eliminating redundant tasks
  • Identification of sensitive content and masking it for meeting compliance and governance goals
  • Extraction of entities from content for providing insights and automating business processes
  • Execution of sentiment analysis on customer communications for quick identification and solution of customer requirements and more

All the above capabilities can help your employees by making them more productive, more effective, and more compliant. This ultimately translates to delivering the best customer experience possible.

And There’s More…

While intelligent content services have a host of advantages which can help employees in a multitude of ways, its benefits can percolate and amaze your end customers too! For instance, through self-service web portals, your customers can verify their identity and documents through intelligent video recognition capabilities. Another very real and tangible benefit would be prompting your customers at a document collection portal to ensure that the correct set of documents are uploaded.

With intelligent content services, the opportunities are endless! Newgen’s contextual content services platform has comprehensive intelligent content services capabilities that can help you boost your employee productivity and offer a superior customer experience. Recently our content services platform has received the highest possible rating for its intelligent content services in Forrester Wave: Content Platforms, Q2 2021. Read the complete report for detailed insights.

Source: https://newgensoft.com/blog/your-enterprise-needs-intelligent-content-services-heres-why/

Getting a Bang for Your Buck: How to Optimize Your Low Code Investment

Low code, which emerged onto the technology scene in 2014, has taken the application development market by storm. Enterprises across all industries are rapidly adopting low code solutions, especially following the unprecedented demand for digitization in 2020as a result of COVID-19. A recent Gartner survey estimated that by 2024, more than 65% of application development will be done on low code platforms and 75% for both IT application development and citizen development initiatives.

The real question is, beyond achieving their initial digital goals, what else can organizations do with their low code investment?

Practical Application: Understanding the Scope of Low Code

Imagine you’ve successfully purchased and implemented a low code solution, investing a significant amount of money and time into achieving your digital goals. What can you do to make sure your success isn’t just a one-time thing?

Especially at a time when most organizations are thinking about cost efficiency and practical efficacy, you must consider ways to scale your low code solution and increase your ROI.

While there are countless ways to maximize your investment, here are five proven approaches:

  1. Drive standardization through rapid application delivery

The rapid application delivery capabilities of a low code solution are integral to large-scale digitization, standardization, and governance. The ability to quickly develop applications enables data access and integrity, privacy, security, integration, and more. By quickly developing applications and updates, you can set a standard model for workflows and execute processes in a uniform way across different parts of the organization. You can even incorporate feedback from current users to develop quick fixes for future projects

  1. Optimize results through integration

Avoid building all your applications and workflows natively using your low code platform. Instead, seamlessly integrate with other tools and technologies to fill business gaps and specific requirements that your low code solution cannot address. Maximizing external tools enhances the overall productivity of your operations and eliminates the need to expend your resources on building a similar tool internally

  1. Use the right mix of technologies

To ensure that you are getting the maximum return on your low code investment, you must use an appropriate mix of technologies, rather than relying on a single tool. Think of ways to incorporate a variety of new-age technologies into your operations, especially the more complex processes. Strategically augment your low code solution by implementing robotic process automation, dynamic case management, rules and decisioning engines, artificial intelligence, machine learning, and more

  1. Capitalize on citizen developers

Tap into your non-IT talent and expand their skillset by training them to use your low code development tools to create applications and updates. Share the IT team’s workload with your citizen developers, allowing your IT to merely oversee application development and focus on more complex issues. Additionally, commit to creating a community platform, like a developer forum, to quickly collaborate with all types of developers on best practices, ideas, and resources

  1. Respond to the unexpected

Quickly respond to unforeseen changes, problems, requirements, and more by leveraging the agility and scalability of your low code platform. Create a customized solution for any business need, without sacrificing on speed or quality. Deliver results within days, or even hours, rather than waiting months for application and workflow updates

The future is, unequivocally, based on low code. And as we continue to navigate the unprecedented in 2021, it is imperative that you optimize your investment and get a bang for your buck!

Source: https://newgensoft.com/blog/getting-a-bang-for-your-buck-how-to-optimize-your-low-code-investment/

Reading Your Customers’ Minds is Now Possible!

Yes, you read that right!

Reading people’s minds is a superpower that most of us would love to have. While social listening is not exactly mind reading, it is as close as it gets for modern business leaders.

In today’s sense-and-respond environment, the importance of customer experience cannot be overemphasized. You must know what your customers are saying about your organization—how much do they love your brand? Are they satisfied with your services? What’s bothering them the most?

However, despite having a digital presence and a willingness to transform customer experiences, efforts often fall flat. Sound relatable? Keep reading to learn how you can bridge the gap between expectations and reality.

Quick Rewind … What’s Social Listening?

As the name suggests, social listening allows you to figure out what your audience is saying on your different channels and track conversations as well as mentions related to your brand, your peers, and their products and services. With the right approach, you can analyze the gathered data and take immediate actions in response.

Why Don’t Brands Listen? Where’s the Gap?

With the overwhelming amount of noise on social media platforms and other customer engagement channels, including phone, live chats, messaging apps, SMS, and websites, separating the signals from the noise becomes a daunting task. Organizations often:

  • Fail to deliver personalized experiences across the customer journey
  • Lack an omnichannel approach to reach out to customers
  • Lack access to contextually accurate information
  • Do not have a scalable customer experience strategy

And all this often leads to dissatisfied or lost customers.

Let’s Take a Look at Statistics on Customer Service 

  • 82% of consumers look for an immediate response from brands on marketing or sales questions
  • 96% of customers say customer service is important in their choice of loyalty to a brand
  • Customers switching companies due to poor service cost U.S. companies a total of $1.6 trillion

These statistics highlight the importance of being where your customers are and leveraging the right technology to deliver consistent, contextual, and omnichannel customer engagement.

Leverage Digital and Social Sensing for Listening to Your Customers Anytime, Anywhere

To help you meet your customers’ expectations, an integrated digital and social sensing solution—backed by machine learning and artificial intelligence capabilities is the key. The solution will help you understand the pulse of your customers’ needs and:

  • Understand their point of view and expectations from your organization
  • Monitor and capture cross-channel conversations
  • Analyze each interaction’s content and context to provide meaningful insights
  • Analyze important keywords and identify the right sentiments
  • Send and track relevant communications

The Final Word

The time is now for you to shift your focus from process or channel to your customers, and understand their needs, expectations, and perceptions to be able to successfully transform their experiences.

Source: https://newgensoft.com/blog/reading-your-customers-minds-is-now-possible/

Time to Switch to a Single Digital Platform to Enhance Operational Excellence

As a service delivery representative, I recently had to collaborate with the global in-house centers (GICs) of one of my customers. By definition, GICs are the offshore centers that perform designated functions for large organizations to minimize overall costs, enable access to better talent, and help operate their business smoothly.

The customer’s GICs were established across different regions, including Asia Pacific (APAC), Europe, the Middle East, Africa (EMEA), and North America/Latin America (NA/LA). Having their GICs spread across various regions, they lacked a unified view of business transactions. This pushed their management team to take an enterprise-wide decision to merge the Middle East and Asia Pacific GICs. The resulting accounting groups were Asia Pacific/Middle East (APME) and Europe/Africa (EA).

What got them stuck?

The middle eastern currencies were not getting mapped to the new APME centers while performing order fulfillment/realization and incident management (internal processes). The decision-makers couldn’t see the amounts being entered in the system. The business owner, who was working from the NA/LA region, did not flag the process properly, and so the issue lasted almost a month after the quarter closure, stalling the company’s complete accounting closure.

The organization faced some major challenges, including the lack of visibility and communication gap amongst users. Additionally, the IT infrastructure of the organization, which was set up in such a way that the order management/realization process and the incident management process were hosted in two different applications with no linking interface—thereby turning the processes opaque.

Plugging the gap!

In order to combat such challenges, a low code automation platform, integrated with intelligent digital automation (BPM) capabilities comes to rescue.

In practice, a better solution to the above-stated case would have been the implementation of a tracking mechanism, which could monitor the flow of orders in the middle eastern currencies at the APME GIC systems. In case any orders/revenue was not being processed in those currencies, the system would have proactively raised an alarm to the right stakeholders, requesting them to log an incident using the same platform.

As BPM brings together all the tools and technologies to help break through silos and connect organizational resources better, it helps in enabling a holistic process experience. This is one of the major reasons why the BPM industry thrives today. The emerging trends of 2019 in the BPM space highlight the inclusion of intelligent process modeling—essentially, leveraging a data-driven, process modeling approach to build a process seamlessly and across departments, interfaces, and geographical space.

In a commissioned study by Forrester on procurement transformation, one of the strategic objectives for the chief experience officers (CXOs) was to support better decision making by improving data analysis and insights. Further, the same study highlighted that insight-driven firms were more likely to report year over year revenue growth of at least 15%.

Another survey by KPMG & Harvey Nash highlighted that nearly 60% of digital leaders could not effectively analyze the data available to them without the right tools. Intelligent analytics, embedded into their processes, shed more light on process analysis and bottleneck detection, enabling CXOs to make informed and data-driven decisions.

Insight-driven platform to maximize operational excellence

While investment into an integrated management approach is a step in the right direction, enterprise resource planning is not able to deliver the levels of omniscience and value it promises in the context of business processes. At least not alone.

This is largely because of the conventional drill down/postmortem identification of issues. However, a comprehensive platform, coupled with data-driven insights, drives an alert-up approach while helping users take proactive measures.

The value of process insights is based on the macroeconomic concept—time value of money. The insight-driven platform not only reflects the existing process discrepancies, but it also involves a continuous learning module to aid informed decision making.

In conclusion

In the past, CXOs were unaware of the process inefficiencies bogging down their companies at the elementary level. However, with an insight-driven platform, they can know-it-all, from the very beginning. A robust platform, complemented by a data insight module, would be a game-changer in bridging silos, increasing organization-wide visibility, and maximizing operational effectiveness for companies of all sizes.

Source: https://newgensoft.com/blog/time-to-switch-to-a-single-digital-platform-to-enhance-operational-excellence/