Client Successes |
Digital TransformationFortune 500 Media Company ChallengeTransforming a $1billion publishing business from a traditional print-based business model to a digital media business poses significant challenges. Our client, similar to many in the publishing industry, had been providing a web version of their print content for many years. But customer demands are requiring a transition from a web version of print media to a dynamic digital business model that provides customized content, builds a social fabric through managed communities, and provides value-added services. To revitalize their revenue growth, our client has embarked on a digital transformation journey that will bring into place various solutions that will help address key functional areas such as content management and ecommerce. CVP was asked to help define the digital architecture and manage the digital transformation program with over a dozen initiatives. Approach and ResultsCVP worked with senior executives to define the key digital delivery capabilities for the organization as well as initiatives required to support the technical competencies. For each of the initiatives, we defined quarterly goals, support application and vendor solutions, business processes impacted, and significant business benefits. CVP also delineated how all of the technical capabilities would evolve into an architecture supporting a digital business. Once the initiatives had been defined and accepted by the leadership, CVP managed the overall program across all tasks. In addition to establishing standard program management processes and tools, such as status reporting, issue management, and resource and budget management, we established a program office with a focus on value-added analysis. We instituted processes and tools to analyze and resolve issues across initiative interdependency, business unit adoption, and talent management transition, among other areas. The digital transformation initiatives are expected to significantly increase digital media revenue by as much as 41% within the next 6-12 months. |
