The Forrester Wave™: Content Platforms, Q1 2023

Content Platforms Vendor Product Comparisons 2023

Key features and pros and cons of top Content Platforms products:

Microsoft - Leaders

Pros:

Executes on an aggressive roadmap and influences market direction
Strong knowledge graph capabilities
Pretrained AI/ML models for common document types
Excellent collaboration including coauthoring, chat, and audio/video meetings via Microsoft Teams
High customer satisfaction with collaboration, AI capabilities, and professional services

Cons:

Limited set of packaged apps for vertical/horizontal use cases
Weak lifecycle management capabilities
Limited metadata capabilities
Customer dissatisfaction with search and integration with common enterprise applications
Complex pricing and licensing model with growing list of add-ons and consumption-based services

Newgen - Leaders

Pros:

Expanded global presence while continuing platform investments
Strong capabilities for process automation and document generation
Most comprehensive embedded intelligent content services including pretrained models for categorization and data extraction
Customer satisfaction with AI/ML services including PII and PHI identification
Capable of scaling for heavy workloads with deployment flexibility

Cons:

Weak native collaboration offerings
Limited metadata capabilities
Weak search capabilities
Customer dissatisfaction with search performance, breadth of APIs, and integrations with some enterprise applications
Commercial model requires understanding of multiple options for different use cases and deployment types

OpenText - Leaders

Pros:

Embeds content services into core processes with robust governance
Deep integration into enterprise applications such as Salesforce and SAP
Strong process automation, search, native e-signature, and lifecycle management
Customer satisfaction with search, metadata, and lifecycle management
Solid vertical strategy with noteworthy simplification of product bundles and pricing

Cons:

Limited set of AI/ML services in core platform; requires addition of Magellan AI stack for extended pretrained models
Customer dissatisfaction with overall system complexity
Heavy reliance on professional services
Limited access to self-service support materials
Growth strategy combines aggressive M&A with limited organic product innovation

Box - Strong Performers

Pros:

Strong collaboration capabilities including policy-driven external sharing and shared workspaces
Interactive note-taking tools
Integration with very broad set of productivity apps
Customer satisfaction with collaboration capabilities, overall ease of use, search, and user-driven automation with Box Relay
Enhancements in content governance such as ethical walls and integrated e-signatures

Cons:

Lags in use of metadata as foundation for content organization
Limited breadth of process automation capabilities
Limited intelligent document extraction capabilities
Customer dissatisfaction with migration or services experience and flexibility of some security and governance features
Lags in breadth of packaged apps for key verticals

GRM Information Management - Strong Performers

Pros:

Strong capabilities for document generation and lifecycle management
Solid metadata capabilities
Strong intelligent document extraction services that can automate processes and categorization
Customer satisfaction with process automation and lifecycle management capabilities
Cloud-native modern platform serving data-driven content automation use cases

Cons:

Lags in collaborative content services with basic file sync and share capabilities
Limited set of integrations for productivity apps
Customer dissatisfaction with integration for productivity apps and system interfaces
Alternative UI (VisualVault Express) still evolving for project workspace requirements
Must continue to invest in partner and professional services strategies for global growth

Hyland - Strong Performers

Pros:

Solid document management, metadata, and lifecycle management capabilities
Strong migration utilities
Application design/development framework to kick-start custom apps and interfaces
Customer satisfaction with overall collaboration capabilities
Comprehensive content services across multiple product families

Cons:

Lack of support for native e-signatures
No knowledge/social graph capabilities
Customer dissatisfaction with professional services and inconsistency with search
Lags on delivering next-generation cloud-native platform despite acquiring building blocks
Must execute on rearchitecture of content management portfolio

IBM - Strong Performers

Pros:

Strong lifecycle management capabilities
Excellent integration and interoperability including with other content platforms
Strong intelligent document extraction
Strong process automation capabilities
Customer satisfaction with flexible metadata including use of external data sources, lifecycle management, and ability to scale

Cons:

Weak native e-signature capabilities
No knowledge/social graph capabilities
Customer dissatisfaction with native collaboration capabilities, inconsistent customer support, and complexity of adopting cloud infrastructure
Must continue efforts to communicate next-generation vision to long-time on-premises customers
Risk of competitive displacements without clear modernization messaging

Laserfiche - Strong Performers

Pros:

Strong capabilities for intelligent extraction of data from documents
Solid lifecycle management capabilities
Excellent search including rich media with navigation to video timestamps for keywords
High customer satisfaction particularly for search, workflow integration with common productivity apps, and quality of professional services
Well-balanced set of services to deliver broad range of vertical and horizontal apps

Cons:

Limited breadth of packaged integrations with enterprise apps
Weak depth of native collaboration capabilities
Customer dissatisfaction with integration to common HR management apps and mastery of rules and forms
Needs to continue investing in generating demand in large-enterprise segment
Often left off shortlists even when platform is a good fit

M-Files - Strong Performers

Pros:

Strong metadata capabilities that can automate processes and content governance
Solid document management and content generation capabilities
Secure external sharing via Hubshare module
Customer satisfaction with overall collaboration offering, integration with common productivity apps, and professional services
Unique metadata-first approach distinguishing from folder-first competitors

Cons:

Weak in breadth of pretrained AI/ML models
Customer dissatisfaction with UI and confusion with search
Must accelerate delivery of predefined solution templates and prepackaged ML/AI models to speed time to value
Needs to stand out in more core capabilities
Limited embedded AI/ML capabilities

SER Group - Strong Performers

Pros:

Strong metadata foundation
Excellent search capabilities
Breadth of packaged apps and pretrained AI/ML models
Strong process automation
Customer satisfaction with application design tools, lifecycle management, search, and metadata support

Cons:

Relatively weak collaboration capabilities
Limited breadth of developer resources
Customer dissatisfaction with UI and access to partners
Mixed customer satisfaction with current AI capabilities
Immature partner ecosystem relative to competitors; needs continued investment for North American growth

Google - Contenders

Pros:

Strong overall collaboration including audio, video, chat, and content coauthoring tools
Wide set of developer resources including AppSheet no-code suite
Underlying knowledge graph
True cloud-native architecture
Comprehensive collaboration and content-authoring capabilities

Cons:

Immature metadata services
Weak document lifecycle management capabilities
Vertical strategy lacks depth in purpose-built apps and solutions
Forrester unable to connect with vendor-supplied reference customers
Limited advanced lifecycle management

iManage - Contenders

Pros:

Strong document management capabilities with robust security, business, and version-control rules
Threat-detection tools based on knowledge graph
Customer satisfaction with search, email filing, and technical support services
Sharp focus on target verticals (legal, finance, audit, consulting)
Delivers content services to document-rich markets with sensitive information

Cons:

Weak native digital process automation
Thin breadth of packaged applications
Limited integrations with enterprise apps
Weak intelligent document extraction
Customer dissatisfaction with workflow and reporting capabilities
Product vision has dependencies on Microsoft 365 stack which introduces roadmap independence risk

NetDocuments - Challengers

Pros:

Solid capabilities for document management, search, metadata, and intelligent document extraction
Customer satisfaction with search and integration with productivity tools
High rating for professional services
Among first cloud-native content platforms
Focus on needs of document-rich sectors such as law firms and corporate legal

Cons:

Capabilities needing improvement in most automation services such as workflow, forms, and native e-signature
Customer dissatisfaction with reliance on third-party tools for enhanced records management
Lack of flexibility for UI design
Risks remaining pigeonholed in highly competitive legal document management segment
Still has feature gaps being addressed with recently launched PatternBuilder automation tool

FAQs

Q: Which vendors are Leaders in 2023?

A: Microsoft, Newgen, OpenText

Q: What does "Leader" mean in Forrester Wave terms?

A: Leaders in the Forrester Wave for Content Platforms execute on aggressive roadmaps, influence market direction, and demonstrate strong current offerings with comprehensive capabilities across content management, collaboration, process automation, and intelligent content services. They show superior product vision focused on extracting insights and knowledge from content, have well-defined roadmaps reaching into adjacent markets, and successfully support hybrid and anywhere work as part of modern digital workplaces. Leaders typically score highest in both current offering and strategy dimensions.

Q: How do I interpret a Forrester Wave?

A: https://www.forrester.com/policies/forrester-wave-methodology/

Report:

Top Vendor Products for Content Platforms in 2023

Content Platforms Vendor Product Comparisons 2023

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FAQs

Q: Which vendors are Leaders in 2023?

Q: What does "Leader" mean in Forrester Wave terms?

Q: How do I interpret a Forrester Wave?

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