Ever found yourself tearing your hair out over your current financial systems and processes? If the answer is yes, you’re likely lacking the visibility and clarity of data needed to make informed decisions. As your spreadsheets grow in size and complexity in response to each new customer, production, share line or internal change, the greater the need for a streamlined system becomes.
Fortunately, SaaS technology is transforming how TV and film production companies manage their financial processes for the better.
To help you we’ve created a short guide that shows how SaaS technology could give your TV & film production or distribution company better financial visibility and clarity.
Four transformative SaaS technology trends your business can’t afford to ignore
#1 Managing finances from one location is now the norm
Although some TV film production and distribution companies still rely on complex financial software spread across multiple locations, forward-thinking companies are switching to single holistic systems – meaning they can run their finance and production accounting from one location.
SaaS accounting software features:
- Remove the need to reconcile data. SaaS software helps companies like yours to manage their finances confidently – avoiding unwanted surprises and empowering you to control costs.
- Give TV and film companies clearer financial overviews. Measure performance, monitor production spend and improve forecasting securely and without the worry of compliance issues.
- Make managing budgets a walk in the park. Import and create budgets without restriction and choose from a range of templates designed to meet the needs of almost any client or project.
- Provide real-time accurate reporting. Spot trends before they become problems or missed opportunities with complete visibility of the most up-to-date data.
#2 Error-free royalty reports can be created in minutes – and without Excel
SaaS technology saves film and TV production companies time by removing labour-intensive processes from the equation. That’s why so many are migrating to all-in-one royalty software that lets them manage their reporting without error in one simple location.
Royalty software features and benefits
Could SaaS software transform how your company reports royalties? Absolutely – and here are three reasons to switch.
- Superior financial visibility and clarity. Rather than making decisions based on a hunch, wouldn’t you prefer to have the right data at your fingertips? SaaS technology concisely maps financial information and performance in the moment – so you’re always in the know.
- Effortless automation for better processes. Time is of the essence. That’s why TV production and distribution companies are starting to recognise the benefits of software that calculates and sends statements via one automated process.
- Create and distribute statements in a few clicks. Cutting-edge SaaS technology lets companies calculate, create, and share statements in just a few steps. As if that wasn’t enough, modern software also submits the files for approval and converts them into self-billing orders or invoices.
#3 Preserve data integrity
Data integrity can be compromised when moving information from one system to another. Fortunately, current SaaS technology solves this problem by removing errors from the process.
SaaS software makes maintaining the accuracy of your data easier by:
- Taking the pressure off internal admins who can spend time on other tasks.
- Reducing overheads while speeding up processes to increasing efficiency.
- Introducing automation to remove human error from the equation.
What if your TV production or distribution company uses Sage? SaaS technology has overcome this problem too – thanks to software migration programmes.
#4 SaaS tech’s got talent – a faster way to manage your sums
SaaS technology is still developing. That’s why talent reporting software won’t be a common feature in modern systems, with many companies subcontracting to specialists or relying on Excel.
However, new SaaS technology is emerging that provides companies in the entertainment sector with the best of both worlds: contracted support and specialist talent reporting software.
Benefits include:
- Transparent reporting that lets companies access titles, statements, and share lines in one simple location
- Automated reporting that removes the frustration and time-consuming effort of calculating by hand
- For production needs:
- Writer/contributor reporting and statements
- Self-billing, journals and payments
Conclusion
Changes in SaaS technology are helping companies in the entertainment sector to streamline their financial processes – resulting in better decisions made using accurate data held in a single easy-to-access location.
Reliance on manual two-dimensional databases like Excel – which are time-consuming and run the risk of human error due to manual entry – is likewise reducing across the industry too.
Of course, these solutions must be flexible enough to meet the individual needs of each company – meaning a bespoke approach is essential if processes are to be effectively streamlined and lost time regained.
That’s where we come in…
Ready to explore the benefits of SaaS technology further?
As Gold Partner Microsoft Dynamics 365 experts, we offer a broad range of SaaS software solutions to companies in the TV film production and distribution industries. Find out how we can furnish you with the tools you need to get the results you deserve in a solution that grows as you do.
