Gazprom-Media Holding has announced it will establish a Common Service Center, which will gradually bring together the main support functions of the Holding’s companies on one platform. This project is planned to be carried out between 2021 and 2022.
The Common Service Center will be the single service company for all of Gazprom-Media Holding’s assets. The Center will handle a range of basic service functions, including human resources, accounting and taxation, IT support, administrative assistance, purchases and others. The scope and nature of the functions may differ depending on the particularities of each business asset. The main objective of this business model is to increase the efficiency, transparency and manageability of business processes and workflow, to unify and standardize all supporting services, and to create a single base for service tasks.
“The global macroeconomic situation, in part caused by the pandemic, requires companies that are focused on further growth and development, to undertake a qualitative transformation. The media industry is currently facing serious pressure from increasing inter-industry competition, declining revenues from traditional business models, the need to restructure the business based on a ‘digital’ model and to introduce new technological solutions. The creation of the Common Service Center is part of our updated strategy, aimed, in part, at increasing operational efficiency and maximizing synergy. The main capital of our Holding is our creative team, while the content they create is the main fuel of our business. The successful implementation of the Common Service Center will help to relieve the creative team from routine back-office tasks and give the managers of these assets the opportunity to concentrate on their main objectives - the production, marketing and promotion of high-quality content of different genres, which will be in demand on all platforms among the multi-million Russian audience as well as abroad,” said Alexander Zharov, CEO of Gazprom-Media Holding.
The Common Service Center will be created on the basis of Gazprom-Media Partner, a subsidiary of Gazprom-Media Holding, with offices located in Moscow. In the first stage, the Common Service Center will take on the service functions of the GPM Entertainment TV subholding, GPM Match subholding and the digital platforms. Other companies of the Holding will be gradually brought into the project throughout 2021.
Ekaterina Yurchenko, who was appointed general manager of Gazprom-Media Partner, will oversee the implementation of the Common Service Center. Ekaterina has had successful experience of establishing common service centers for companies in various industries, including Rosneft, Norilsk Nickel (Nornickel) and Magnit.