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The client is a fully integrated, broad-based entertainment company, and a global leader in the creation, production, distribution, licensing and marketing of all forms of entertainment.
It was among the first media companies to grasp the full potential of digital technologies, and has worked with Accenture over the years to digitize its entire operation, including its catalog. The Direct-to-Consumer division is responsible for creating and deploying electronic customer relationship, loyalty and related initiatives to enhance customer engagement.
As a pioneer of the digital content business, the global entertainment company has long understood the power of digital media to build customer loyalty and engagement, and so help drive high performance. One challenge of this type of endeavor is the multiplicity of programs, and the company realized it needed a way to “see” its portfolio of customer programs at once, the better to allocate resources and funding. To do this, it required a common set of performance criteria, a repeatable process for portfolio management, and a robust basis for fact-based decision-making.
This was clearly a strategic initiative, and the company asked its longtime collaborator in the digital space Accenture, to assist.
An Accenture team comprising professionals from its Finance & Enterprise Performance, Strategy and Media & Communications units supported the global entertainment company across the four phases of this project. The team began by conducting one-on-one interviews with the vice president of Product and all product managers. This collaboration was important in gaining insight into the nuances of customer engagement, as seen by the product managers, and also fulfilled a useful change management role, by confirming that the process was being designed to support their work, rather than being imposed from above.
During phase one, the team helped develop the tool kit and piloted it on strategic products, a process that had to be completed within three months to support the annual capital-budgeting exercise and the mid-year benchmarking of portfolio performance. Subsequent phases involved assessing the entire portfolio; designing the business process, including governance and all performance management tools and finally, designing and implementing a dashboard.
Accenture frequently met with the project sponsor to confirm that the evolving solution was aligned with the company’s strategic needs.
The new framework for portfolio management gives the company a rigorous, fact-based tool to manage its entire portfolio of Direct-to-Consumer projects based on their relative performance and contribution to the overall business strategy. In particular, the framework integrates risk into the decision-making process.
By facilitating scenario-based planning, the framework also helps the company to consider alternatives, and allocate resources and funding much more accurately.
In short, the Portfolio Management Framework is set to play a role in helping the global entertainment company progress in its journey to achieve high performance.
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