McCormick, a global leader in flavor, is renowned for its 130-year legacy of providing exceptional seasonings, spices, and condiments. With a rich heritage of culinary expertise, McCormick is committed to enhancing the world’s dining experiences. Their extensive range of products caters to consumers and businesses alike.
McCormick’s licensing operation faced several challenges, primarily centered around managing royalties, contracts, and collaboration. Ana Murphy, Brand Licensing Manager at McCormick, reflects on their initial struggles: “Royalties were being managed via spreadsheets, emails, and shared drives.” Despite weekly meetings, there was still a lot of manual work involved, and their systems were not user-friendly for all stakeholders.
Influenced by SPLiCE:
McCormick’s journey to Dependable Solutions, Inc. (DSI) was influenced by their participation in SPLiCE, a collaborative community of licensing professionals. Within this network, they engaged in conversations, shared insights, and explored new approaches to licensing operations. Ana Murphy notes, “We are in a program called SPLiCE, where many licensors come together. We help each other with questions and talk about new innovations. I met Marty [President of Dependable Solutions, Inc.] from DSI through this program.”
After extensive evaluation and discussions with potential partners, McCormick recognized the exceptional value that Dependable Solutions, Inc. offered. Ana notes that the decision was based on DSI’s ability to provide a centralized, organized, and user-friendly system. “We met Marty and had great conversations. Brian [Client Services Account Manager] from DSI has been super helpful. I’m very happy with the decision to go with DSI.”
DSI transformed McCormick’s licensing operations by offering a centralized platform to effectively manage royalties, contracts, and more. Ana highlights how internal finance teams can now access their DSI account and issue invoices directly from the system, streamlining their financial processes.
The key benefits of DSI have been manifold for McCormick. Ana shares, “Our largest win has been having all contracts and amendments in one location, helping us keep track of expirations and work on amendments more efficiently. We can also see the full range of products per licensee, making better business decisions. For instance, we recently spotted new SKUs in a licensee’s report, fixed the error, and processed royalties within an hour.”
The ability for licensees to upload royalty and forecast reports directly into the system has strengthened relationships with licensees. Ana’s proactive approach, combined with templates and training, has facilitated smoother interactions and collaborative innovation.
DSI’s platform has become the nucleus of collaboration between McCormick and its licensees. It has streamlined operations, improved communication, and enabled the development of new ideas and products. McCormick now relies on DSI to efficiently manage their licensing processes, turning their flavorful journey into an even more harmonious and innovative one.
If you are looking to spice up your licensing program, for a recipe for success contact Dependable Solutions today!