- Drive investment in cloud-based expert solutions
- Transform digital information products into expert solutions
- Enrich customer experience leveraging data analytics
In 2022 we launched our new three-year strategy, Elevate Our Value, designed to accelerate expert solutions, expand our reach and evolve core capabilities. Working alongside our customers, we will continue to apply advanced technologies to address complex problems in society. The three strategic priorities for 2022-2024 are:
This business strategy, which will fuel our success and drive our day-to-day operations from 2022-2024, consists of three pillars, which reflect our strategic priorities and form the foundation for executing our strategy across our portfolio for the next three years:
- Extend into high-growth adjacencies
- Reposition solutions for new segments
- Drive revenue through partnerships and ecosystem development
- Enhance central functions, including marketing and technology
- Advance environmental, social and governance (ESG) performance and capabilities
- Engage diverse talent to drive innovation and growth
Our strategic approach offers opportunities and value - important criteria for our investors. In this aspect, we are - as always - strongly committed to delivering returns to our shareholders. The customers we serve continue to be centrally important inspiration for our strategy. Their future is also the story of the future of society at large. We can derive real pride in our work simply by recognizing how we contribute to making a difference every day.
The foundation laid over the past many years has driven improved organic growth and operating margins and helped us navigate the challenge of the global pandemic. While we were briefly diverted from our financial trajectory in 2020 due to the pandemic, the recovery seen in 2021 allowed us to meet nearly all of the financial goals set for the most recent strategic plan (2019-2021). We grew expert solutions from 49% of total revenues in 2018 to 55% of total revenues in 2021, primarily through organic growth. The acquisitions of CGE, XCM, Vanguard, and eOriginal, and the divestment of several non-core assets also helped increase our focus on expert solutions.
We made progress on enriching several of our information products and are now starting to launch the early results of that effort. We also made progress on our third goal, which was to drive operational agility, by completing several major internal projects, such as the introduction of a modernized global HR system in 2019, the consolidation of 280 customer-facing websites into a single global site in 2021, and the implementation of CCH Tagetik as our new corporate performance management tool in 2021.
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