Norwegian media and entertainment companies are some of our most digitalised and innovative enterprises. Their income models were amongst the first to be put under pressure due to digitalisation, and they are often highlighted as some of the best examples of digital transformation within the industry. In other words: they deploy innovation for both defence and offence.
Given this ultra-short description of the challenges within the industry, working with IT solutions that will be the present and future payment solutions for major Norwegian companies within media is exciting, to say the least.
During my time as a Project Manager at Arvato, I’ve worked on several complicated development projects for clients within the field of technology and media, including Telenor, Amedia and Cappelen Damm. We recently signed a major contract with another big player, Schibsted. Gaining such a good foothold within the industry makes me proud.
The contract with Schibsted covers several different processes. Firstly, they had a need to rationalise their “order-to-cash” processes for the group’s companies in Norway. Schibsted was looking for a partner first and foremost would put their customer’s needs in focus, and improve the customer satisfaction. The fact that we were able to streamline their payment processes, and improve liquidity was seen as an additional benefit.
I’m not giving away any of Arvato’s business secrets when I say that the above are already part of our repertoire of the things we do for most of our clients. What makes this project so exciting is what has yet to happen. Yes, we’re talking about innovation put into practice.
One of the challenges involved is very traditional – bringing down credit time. And not in terms of shorter credit terms on the invoices. So how do we solve it? With customer data. We simply develop a solution that rates ability to pay based on previous behaviour across all the Schibsted companies.
This cooperation will as mentioned earlier result in several new and innovative solutions from our side. We do not want to say too much before we go live in March 2018, but this is without a doubt one of the biggest projects we have had. We have already proved that we are a preferred partner for companies within media and technology, but now we need to step up our game and do even better!