Box Acquires Crooze to Transform Enterprise Content Management with AI and Metadata-Powered Applications
24 Janeiro 2024 - 1:00PM
Business Wire
Box, Inc. (NYSE:BOX), the leading Content Cloud, today
announced that it has acquired Crooze, a leading provider of
no-code enterprise content management applications built on the Box
Platform. Box will leverage Crooze’s team and technology --
including the company’s no-code app builder and metadata
capabilities -- to help organizations address business-critical
processes like contract lifecycle management, digital asset
management, controlled document management, enterprise content
libraries, and more.
“Content is central to a huge number of critical business
processes in the enterprise today, and with rapid innovation in AI
and a dynamic security landscape, the ability to manage those
processes in the cloud and enable teams to get the most out of
their content is essential to digital transformation,” said Aaron
Levie, co-founder and CEO of Box. “It’s time to modernize ECM and
leave outdated systems behind. Crooze has built advanced ECM
capabilities on Box, already working with some of our largest
customers. By natively integrating Crooze’s technology into Box,
we’ll reshape what enterprises can do with their content.”
"Box has long been on the cutting edge of the enterprise content
management industry,” said Alan Monier, co-founder of Crooze. “They
pioneered cloud content management and have set the bar for
security, compliance and data privacy. Building on their
enterprise-grade platform was an easy decision for us.”
“From its inception, Crooze’s mission has been to help
organizations unlock the full potential of their content and we are
very excited to join the Box family to scale that vision in the
enterprise,” said Mark Lane, co-founder of Crooze.
Today, Crooze provides a broad range of capabilities to help
customers get the most out of their content in Box:
- A no-code builder for critical business-document
applications.
- An extensive set of metadata tools to greatly simplify all
aspects of metadata, including adding, analyzing and managing it at
scale.
- Customized dashboards and views of underlying Box content and
metadata.
- Forms and document generation capabilities.
- Ability to integrate with Box Relay to automate content
workflows.
Crooze's capabilities enable customers to easily and quickly
build apps to manage critical content on Box, including contracts,
digital assets, and controlled documents:
- Contract management: Organizations can digitally
transform their legal contracts repository and processes with the
ability to generate documents on-demand, streamline e-signatures
with Box Sign, and automate processes with Box Relay for efficient
handling of contracts.
- Digital asset management: Marketing teams can organize,
manage, share and distribute assets, automate processes through Box
Relay to manage end-to-end asset lifecycles, deliver curated assets
internally and externally, and streamline metadata management with
robust tools for enhanced productivity.
- Controlled document management: Departments can
establish a secure document library on Box for controlled documents
like corporate records, HR policies, and financial records,
leverage Box Shield for document protection, enforce retention
policies with Box Governance, manage metadata at scale by applying,
editing, and searching across thousands of files, and automate
processes seamlessly with Box Relay for review and approval
protocols.
Modernizing the ECM Market with AI
According to IDC’s Worldwide Content Services Applications
Forecast, 2023-2027:
The worldwide content services applications market (including
ECM) is expected to grow* from $15.1 billion in 2022 to $23.8
billion in 2027 at a compound annual growth rate (CAGR) of
9.6%.
The vast majority of enterprises today continue to struggle with
the productivity, security, and cost challenges posed by having
their content and workflows fragmented across a variety of legacy
on-premises ECM systems and point solutions. To enable modern work
and secure their intellectual property, these organizations need a
single, secure platform to centrally manage content across a
variety of use cases. Further, new technology like Box AI presents
an unprecedented opportunity to unlock insights from content and
drive further automation and transformation.
"Organizations looking to modernize their approach to managing
enterprise content should consider the new synergies afforded by
Box with Crooze,” said Holly Muscolino, group vice president,
Content Strategies and the Future of Work at IDC. “Crooze’s no-code
app builder and metadata capabilities further enhance the robust
set of content services offered by the Box Content Cloud. IDC
research shows that organizations that invest in modernizing
content management experience reduced business risk, improved
decision-making and increased stakeholder satisfaction and
engagement, including both customers and employees.”
Pricing and Availability
Box will continue to offer and support Crooze products and
services, and in parallel will integrate the Crooze technology
natively into the Box Content Cloud. Customers interested in
learning more about how to leverage Crooze offerings today should
contact their Box account team. Box expects to announce
availability and pricing for new capabilities based on Crooze later
this year.
For more information on today’s news, visit the Box Blog.
*Statistic pulled from the IDC Worldwide Content Services
Applications Forecast, 2023–2027 US49200423, May 2023
About Box
Box (NYSE:BOX) is the leading Content Cloud, a single platform
that empowers organizations to manage the entire content lifecycle,
work securely from anywhere, and integrate across best-of-breed
apps. Founded in 2005, Box simplifies work for leading global
organizations, including AstraZeneca, JLL, Morgan Stanley, and
Nationwide. Box is headquartered in Redwood City, CA, with offices
across the United States, Europe, and Asia. Visit box.com to learn
more. And visit box.org to learn more about how Box empowers
nonprofits to fulfill their missions.
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version on businesswire.com: https://www.businesswire.com/news/home/20240124208775/en/
Investors: Cynthia Hiponia and Elaine Gaudioso +1 650-209-3463
ir@box.com Media: Rachel Levine +1 650-543-6926 press@box.com
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