A WCM-tool normally includes functions for administering user and groups and editing the content. You can, for example, have one group for administrators, one group for content editors and one group for visitors, everyone. (Of course, for a wiki site, the editors group and visitors group are the same.) Besides editing the content, a WCM tool often has functions for managing versions.
As with all software areas, the companies that develop and sell/distribute WCM tools put more and more functions into them to make them as attractive as possible. The functions might include modules that are typically used when building a web site (intranet, extranet or public internet) like search engine, workflow support, discussion forums[?], etc., etc. Today many of these features are also regarded as part of the WCM area, even if they do not exactly deal with managing content.
Several WCM systems utilize standardized protocols like WebDAV for managing the site content technically.
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