When we talk about taking the changes in technology and implementing them within an organisation, one name jumps to mind – RELX Group. The transformation of the FTSE 100 (and FTSE 15) RELX Group from a media company to leading global information and analytics company, with a market capitalization of about $44bn, is indeed inspirational and somewhat surprising.
With a heritage in publishing, RELX Group has now successfully transformed its revenue streams. Over the past decade, print sales have been managed down from 50% to just 10% and the vast majority of revenues are now derived from digital. The company spends $1.3bn on technology annually and employs 7,000 technologists across the company’s four global divisions. Notably, MSCI re-categorized RELX as a business services company rather than a media group last year.
I recently had the pleasure of interviewing with Kumsal Bayazit, Chairwoman, RELX Technology Forum at RELX Group. Ms Bayazit has been at the group for more than 14 years now and played a major role in devising the pathway that dictated the company’s transformation during the last decade.
Every transformation within an organization requires firm belief and perseverance. Without any one of these factors, the transformation will either be left a void or will propel the …