According to a study, data professionals spent ~37% of their week finding relevant information.1 Content services (CS) can assist data professionals and other employees boost their productivity. In this article, we want to show executives how CS can be used and what examples there are.
Figure 1: CS features.2
Use cases in common business activities and functions
- Document search: CS platforms can organize documents using metadata information. For instance, AI-powered CS tools can scan the keywords in invoice files via invoice capturing and classify invoices according to their content. This can provide better search results in your storage.
- Multilingual document management: Some content services offer multilingual search services in your content, translation, and multilingual reports.3
- To increase workflow efficiency: CS platforms can send notifications to your employees based on the completion of jobs to sustain an efficient workflow. Also, they can contribute to your company’s flexibility because they allow your employees to orchestrate situational business operations.
Figure 2: Increased use of portable devices in work.4
Industry-specific use cases
As indicated in Figure 3, fast-growing financial services invest ~5.5 times more in intangibles such as software. Use cases content services in finance include:
- To Integrate ERP/accounting system: Invoice management software must be compatible with ERP tools to integrate day-to-day business for producing accounting records. CS tools can be integrated with ERPs, allowing your employees to compare invoice data, prices, and volume automatically.
- To manage customer lifecycle: Financial institutions storing customer information in multiple systems can create data silos and reduce the visibility of the entire customer lifecycle. Customer data management can be improved by integrating customer information into a single platform using content services.
Figure 3: Fast growers invest more in intangibles.5
When done manually, invoice management can be time-consuming, especially in the insurance industry, and prone to human error. According to a report, ~77% of general accounting operations can be automated (see Figure 4). CS tools can assist in invoice management in the following ways:
- Vendor invoice management: Some content services provide vendor invoice management tools that are SAP-integrable. It is possible to automate end-to-end operations, sales orders, and invoices using pre-cast roles.
Figure 4: 77% of general accounting operations can be automated.6
According to a PwC HR technology survey, one of the top concerns of HR departments is to enhance employee experience.7 CS platforms can help HR departments to promote employee experience in the following ways:
- Employee information management: CS platforms can link HR content to other employee data to provide a comprehensive view of each employee. Content services provide a centralized repository for your HR content, such as resumes and onboarding materials. They can be added to your human capital management (HCM) or human resource information system in this way (HRIS).
Health technology is a growing industry (see Figure 5). It can assist healthcare with various services, such as using AI to diagnose breast cancer or inspect the early stages of health diseases. CS platforms can have applications in the healthcare industry in the following ways:
- Data security and Health Insurance Portability and Accountability Act (HIPAA) compliance
- To manage electronic patient information (e-PHI) access controls
- Electronic health record (EHR) management
- Electronic medical records (EMR) management
- Patient big data management
- Medical device location tracking by IoT data management
Figure 5: Health technology funding increased in 2020.8
If you have further questions about content services, don’t hesitate to get in touch with us:
Cem has been the principal analyst at AIMultiple since 2017. AIMultiple informs hundreds of thousands of businesses (as per similarWeb) including 60% of Fortune 500 every month.
Cem's work has been cited by leading global publications including Business Insider, Forbes, Washington Post, global firms like Deloitte, HPE, NGOs like World Economic Forum and supranational organizations like European Commission. You can see more reputable companies and media that referenced AIMultiple.
Throughout his career, Cem served as a tech consultant, tech buyer and tech entrepreneur. He advised businesses on their enterprise software, automation, cloud, AI / ML and other technology related decisions at McKinsey & Company and Altman Solon for more than a decade. He also published a McKinsey report on digitalization.
He led technology strategy and procurement of a telco while reporting to the CEO. He has also led commercial growth of deep tech company Hypatos that reached a 7 digit annual recurring revenue and a 9 digit valuation from 0 within 2 years. Cem's work in Hypatos was covered by leading technology publications like TechCrunch and Business Insider.
Cem regularly speaks at international technology conferences. He graduated from Bogazici University as a computer engineer and holds an MBA from Columbia Business School.
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