Institutional publishers and service providers operating within the Diamond Open Access (OA) publishing model now have a valuable new tool to assess their financial sustainability. The Diamond OA Sustainability Check tool has been launched as part of the DIAMAS project, led by SPARC Europe. This initiative is aimed at ensuring the long-term viability of Diamond OA publishers and service providers by offering insights into the financial health of their operations.
The tool is designed to help Diamond OA publishers and service providers evaluate the financial strength of their services. By answering a series of targeted questions, users can generate a radar chart that provides a visual representation of their financial sustainability across key operational areas. This assessment is based on real-world financial challenges faced by Diamond OA publishers, with input from DIAMAS project partners and experts.
The tool encourages users to assess crucial aspects such as costs, resources, income streams, and financial management mechanisms. It helps institutions strategize for future growth, manage resources effectively, and ensure long-term financial stability. Users can also use the tool to facilitate discussions about financial sustainability with stakeholders, including management, colleagues, and members.
The self-assessment tool is easy to use and allows users to revisit their assessments at any time. Results are stored securely in a password-protected environment, making it convenient for ongoing evaluations and strategic planning. The tool represents a significant step towards promoting the financial health of the Diamond OA publishing ecosystem.
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