MetaComet® Systems provides a suite of best-in-class services to support royalty management and royalty automation. They help publishers of all sizes and types to increase the accuracy and efficiency of their royalty processes and substantially reduce their labor and risk.
These are the four simple stages to automating audiobook and other royalties, and how MetaComet® Systems can help with each.
1. Record contracts
Orderly management of contractual information makes royalty management much easier later on. Use Royalty Tracker’s contract system to record your royalty payment rules as soon as agreements are signed: it’s quick and straightforward to enter the required data, but sophisticated enough to handle complex contracts and clauses. This is the crucial first step towards automation of the whole royalty process.
2. Consolidate sales
Businesses typically receive sales reports from multiple sources and in many different formats. MetaComet® Systems’ Sales Aggregator enables easy import of your raw sales files in the format in which you receive them, and instantly consolidates them into a single repository. It memorizes file layouts and converts currencies for you, and ensures royalty calculations are handled based on the rules you set up at the contract stage. This is the second step towards royalty automation. At this point, the software takes care of most of the rest.
3. Access reports
Having created a single source of sales data and the corresponding calculations, businesses can access powerful insights and make better decisions. It becomes easy to monitor the performance of titles, and to see how much money is owed at any point in time. Monitoring royalty accruals helps leaders to understand the profitability of the business, and to accurately record their royalty liability on their balance sheet. This is where businesses begin to reap the management benefits of royalty automation.
4. Distribute royalties
Royalty automation means royalty statements are prepared in a fraction of the time taken to perform the task manually, and with a much higher level of accuracy. Statements are ready to email or mail to contributors on time, and recipients can also inspect information on demand via the user-friendly AuthorPortal. The result: more efficient businesses and happier content creators.
To learn more about royalty automation and MetaComet® Systems, click here.