You may already know that Reprtoir, in addition to being a fully functioning workspace for record labels and music publishing teams, has added a feature last year: Royalty Accounting solution. Alongside our CMS (Audio Manager and Works Manager), it is possible to manage accounting, directly linked to Rights-Holders, Contracts and various splits. We didn’t stop there.
What is Royalties Manager?
Let’s recap quickly. Royalties Manager is our royalty accounting software. We have developed this feature for Reprtoir’s software suite to make sure that all our users can follow their workflow smoothly.
Royalty management has been and still is one of the most important parts of the work when it comes to administrative and operational tasks for labels and publishers. Rights-Holders need to be paid on time and the exact right amount. We can all agree on that matter.
It sounds obvious, but managing several streams of digital revenue is getting impossible to do manually. For a bit more than a year now, we provide Royalties Manager, compatible with the rest of our suite, to all record labels and music publishing companies.
So good news: Reprtoir released a major Royalties Manager update which brings more flexibility by adding Contract Balances & Cross Collateralization.
The updates we brought on Royalties Manager
Before this update, all Incomes and Expenses were calculated on the Rights-Holder level. This meant that all Expenses were Cross Collateralized all the time, and our users had no way to independently recoup their Expenses on a Contract basis. We had a few feedback from some of our customers asking for change, so we got right on it.
Now we have added Balances for each one of our users’ Contracts, and our new Cross Collateralization feature allows them to decide whether Contracts are to be grouped together in terms of recouping Expenses, or whether they should recoup Expenses on an individual Contract basis.
It is far from being anecdotic. The main goal of Reprtoir is to make it easier to manage royalty accounting but also to collaborate with the rest of the team. Not all Contracts are the same, all splits are rarely equivalent and you need one place to balance it all without skipping a beat. It is now possible to do so for our users.
New and Updated lists for our users
So what does it mean in practice for Reprtoir users? Here are the concrete changes summed up:
- New Cross Collateralization list: Now our users will have a new list featuring Contracts that are grouped together for Cross Collateralization.
- New Contract Balances list: Our users will also have a new list dedicated to Contract Balances.
- Updated Right-Holder Balances list: And the Rights-Holder list is now a Contract Rights-Holder list.
Willing to know more about Royalties Manager features?
Please don’t hesitate to reach out if you have any questions regarding this new update or any part of our product. We have been working on this new and improved Royalties Manager in close cooperation with our customers, but we are always looking to make it more malleable for you and help you come on board.
Our team is always available to answer your questions on a call or give you a tour of Reprtoir with a free demo!