Guide to Modernizing Royalty Operations: A Checklist for a Successful Project | Fadel
Uncategorized
Introduction
As publishers increasingly shift towards digital transformation, enhance transparency for authors, and adopt new content delivery, licensing, and compensation models, the importance of supporting technology becomes even more significant.
This guide outlines a project checklist for implementing or modernizing a rights and royalty management system, aimed at positioning your company for growth and optimizing royalty operations.
The typical steps in a modernization project begin with establishing key fundamentals, such as setting governance procedures, identifying and engaging relevant stakeholders, and, most critically, defining key business drivers paired with success metrics. Once the project is underway, standard phases include discovery, selecting the right technology, solution blueprinting, and implementation.
Project Fundamentals
As with any major project, it’s crucial to ensure foundational elements are in place before launching a modernization initiative. Key areas to focus on include:
Project Governance:
- Clearly define project ownership
- Identify business sponsors
- Form a steering committee
- Utilize appropriate subject matter experts
Change Management:
- Communicate the project vision to end-users
- Leverage project “champions” to promote positive change
- Provide training to ensure effective user engagement
Stakeholder Engagement:
- Encourage stakeholder input and active participation
- Establish consistent communication with stakeholders
- Document stakeholder objectives for clarity and transparency
Drivers of Change:
- Share high-level project objectives with all stakeholders
- Define success criteria using both qualitative and quantitative metrics
Discovery
In the Discovery phase, it is advisable to conduct a series of interviews with all relevant stakeholders to:
- Gain insight into the current state
- Identify pain points
- Clarify the scope of requirements
Each stakeholder group can address specific topics within their domain, as outlined in the chart below. The following are key questions and focus areas to explore when assessing opportunities for improvement.
Rights & Royalty Management: Solution Components
When evaluating the comprehensive scope of your Rights & Royalty system, it’s essential to ensure that these key solution components are covered. We’ve also highlighted which stakeholders should be involved in the requirements-gathering process.
Unlock the full guide and streamline your royalty operations. Continue reading and download the comprehensive checklist now!
Read also this article: Implementing Data-Driven Marketing: A Project Manager’s Roadmap to Success
Table of Contents of “Guide to Modernizing Royalty Operations: A Checklist for a Successful Project”:
- Introduction
- Project Fundamentals
- Discovery
- Rights & Royalty Management: Solution Components
- Rights & Royalty Management: Solution Features
- Blueprint
- We Are Here to Help
Number of Pages:
- 10 pages
Pricing:
- Free
