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Unprecedented shifts and relentless pressure from competitors often compel media organizations to accelerate the digital shift to stay relevant and drive growth. At times, these companies are inclined to take the typical approach of adopting a model that redefines how people, processes, facilities and technology should be organized in future, and then spending the next three to five years implementing it. But the media business is changing too quickly for this approach to be effective.
A global media monitoring company needed to rapidly improve customer relevance and drive revenue. As the organization was also under pressure to lower costs and be more efficient, it needed to grow commercial income to offset these reductions.
Cognizant Consulting partnered with the company to deliver and accelerate transformational change, applying our deep media industry expertise and agile principles to drive the desired outcomes. The company adopted an enterprise-wide agile approach to iteratively disrupt its current business model, and to define and implement its future operating model. The agile techniques involved idea testing with customers, incorporating feedback, continuous improvement and iteration, and cultural change management. The operating model provided a view of a streamlined, structured framework, identifying the required skills and capabilities. It also contained the underpinning financial model, technology architecture and supporting data governance framework.
Working together, the global media monitoring organization and Cognizant formulated a model for the future that has the flexibility to adapt to changing external and internal factors. This team also designed and implemented interventions to radically transform the media company’s current model and achieve its key strategic objectives.
speed improvements and innovation
increase in revenue, with customer-relevant offerings
reduction in costs, with a more effective operating model