4 Tips for Simplifying Royalty Management
Summary
While every organization is unique, and size and budget will clearly play a role, the following 4 tips will hopefully provide you with at least a couple of useful insights into how to simplify your royalty operations. Tip 1: Create Contracts that Match to Your Backend Capabilities I recently spoke with a very smart publisher who had moved from a “Big Five” to startup indie. They quickly realized, however, that terms like reserves against returns and joint accounting (aka “Cross Collateralization”) could not be easily handled by Excel. If you don’t have a way to accurately account for a contract term, either do not offer it, or plan for the added overhead required during royalty periods and the lack of interim reporting. We recently met with an ECPA member customer who explained how their process went from 2 months in duration to 2 days after implementing our royalty management solution.
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