Process Reengineering Cuts Costs in Half and Turn-around Time by a Third

 

Consulting Practice Streamlines Content Acquisition For Leading Business Intelligence Provider

Challenge

A leading marketer of business intelligence reports originates content and aggregates information on more than 65 million companies and 85 million individuals. They furnish customers — predominantly sales, marketing and business development professionals — with custom profiles and reports, reference books and a variety of database products.

After an ambitious promise to its parent company to reduce expenses, the company realized that it needed to radically rethink its approach to product manufacturing.

The company’s content acquisition and management processes were fraught with inefficiencies. One team of editors was tasked with looking up basic information to update general categories, such as company revenue and executive officers. Another team of highly skilled editors needed additional research to author original articles. Both sets of editors spent more than a third of their time checking and rechecking scores of sites for information.

All this was accomplished manually, which meant editors continually ran the risk of missing new information or important developments.

What’s more, other product teams within the company could not easily share this content, which created redundant expenditures even as the cost of sourcing information continued to climb.

Solution

With a deadline looming, the company focused on finding business process and technology consultants with experience resolving publishing workflow inefficiencies. After we performed a needs assessment and furnished a preliminary set of recommendations, the company asked Innodata Isogen to blueprint a plan.

Implementation

Our consultants analyzed their existing processes, diagnosed inefficiencies, redesigned editorial workflows, and changed the editorial user experience.

The new workflows we developed reversed the company’s content acquisition process from a pull to a push system. Instead of editors browsing the Internet for all required pieces of information, a paid newsfeed delivers information from company Web sites, SEC filings, annual reports, news articles, press releases and other sources.

Each time a new piece of information comes in, it is routed to a third party search platform that determines if the data is relevant to one of the organizations covered by the client and if the data represents a change from what is already in the system. If it meets those two criteria, the data is parsed into the elements from our model, and the finished product is an XML document that kicks off the editorial workflow.

The parsed data is available for editorial products across the company, and editors receive email updates relevant to the companies they cover.

We also helped the company research and select more cost-effective information sources.

Impact

Within a strict deadline of just three months, Innodata Isogen helped streamline this client’s editorial processes substantially, boosting the productivity of editorial staff by more than 30%. In addition, acting upon our findings and specific recommendations — including using more efficient, lower cost content feeds and repurposing content — our client cut its content sourcing outlays in half.

  

 

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