Royalty Solution
Automate your Royalty liabilities or earning with IMA360’s cutting edge royalty management software to focus on what really matters, creativity.
Manage your royalties with an automated solution
Are you using an original song or video that was made by someone else for your project? If so, you have to pay the creator a specific portion of the project’s profits. Accuracy can be difficult to control when it comes to royalties payments, though, as it might damage your rapport with creators.
IMA360 Royalty Solution Benefits
Efficiency Gain
Automate royalty calculations and payment processes, reducing administrative overhead and improving productivity.
Automation and Integration
Complete end-to-end automation from royalty program setup to payment and out of box integration with most ERP systems.
Optimize Revenue Streams
Optimize revenue generation and fit with business objectives by fine-tuning royalty arrangements and agreements.
Enhanced Accuracy
Reduce the number of mistakes and inconsistencies that come with manual royalty management procedures to guarantee precise and timely payments.
Ensure Compliance
Maintain compliance with legal and regulatory regulations to reduce the likelihood of fines and legal conflicts.
Improve Transparency
To promote trust and transparency, make royalty agreements, usage statistics, and payment histories visible to all relevant parties.
What is Royalty Management Optimization?
Optimizing royalty management includes measuring usage, properly managing royalty agreements, and making sure that royalties are paid on time and accurately. It comprises using technology to automate royalty calculations and reporting, establishing transparent processes, and matching royalty structures with corporate goals.
Key Features of IMA360’s Royalty Management Software
Seamless Setup and Configuration
Our software offers a user-friendly interface, allowing for easy setup and configuration of royalty agreements, rates, and payment terms.
With pre-configured royalty scenarios and templates, you can quickly establish customized royalty structures tailored to your business needs.
Integration and Compatibility
Provide a consistent and effective royalty management solution through seamless integration with top ERP systems and other financial tools.
Our software is designed to work with your existing infrastructure, minimizing implementation time and simplifying data exchange processes.
Automated Royalty Calculations
Automate royalty calculations based on usage data, sales revenue, or other predefined metrics, reducing manual effort and minimizing errors.
Our program automates the entire royalty computation and payment process, from tracking royalties to creating payment schedules and reporting.
Configurable Approval Workflows
Customize approval workflows to match your organization's hierarchy and processes, ensuring compliance and accountability throughout the royalty payment cycle.
Establish several approval levels, alerts, and notifications to notify stakeholders and speed up decision-making.
Robust Reporting and Analytics
Using extensive reporting and analytics capabilities, you can obtain actionable insights into trends and royalty performance.
Our platform facilitates strategic planning and informed decision-making by offering visibility into usage trends, royalty earnings, and payment status.
Our comprehensive solution empowers organizations to streamline royalty processes, enhance accuracy, and maximize revenue streams. With advanced features and intuitive functionality, we help businesses optimize their royalty management strategies for sustained growth and profitability.
Following Royalty calculation are pre-configured.
Gross revenue payment
You must pay the original content creator a specific portion of the earnings using this way of computing royalties before deducting any other costs. Usually, the terms of your agreement with the original creator specify that percentage. You must reimburse the original inventor for a specified sum, regardless of any additional costs incurred from the earnings.
Net revenue payment
Here, after deducting your costs from the earnings, you are expected to reimburse the original inventor. This gives you the opportunity to account for all of your costs. After deducting your expenses, you must give a specific percentage of the remaining revenue to the original inventor. Based on your project’s net profit, you reimburse the original inventor. Most businesses and organizations choose to calculate royalty payments because there are opportunities to save money to some degree.
Minimum rent payments
This method allows the original creator to get a minimum amount every month, even if there is no sale. The rate of payment gets increases as the rate of sales to get increased. This method is beneficial for creators who create original songs or videos.
Royalty advances
In this instance, original content authors are typically compensated before any revenue from products incorporating their work is generated.
Price per unit payment
You are expected to pay the original inventor according to the quantity of CDs or books that are sold, even when you compute the royalties using the price per unit payment method.
Monthly royalty expenses
Generally speaking, royalties are computed and paid out on a quarterly or half-yearly basis. It is likely that you will pay the original inventor on a regular basis under the monthly royalty expenses arrangement. It also gets easier to figure out how much the creator’s royalties cost you.
Transforming Your Royalty Program
Challenge
For businesses of all sizes, handling royalties may be a difficult undertaking in the quickly changing business environment of today. Managing royalty agreements, processing payments, and verifying adherence to contractual duties can be laborious, prone to mistakes, and extremely annoying processes. The fact that many companies continue to use antiquated, manual processes or legacy software that is ill-equipped to handle the complexities of contemporary royalties management only serves to intensify this problem.
Consequently, businesses encounter growing challenges such as decreased productivity, heightened likelihood of disagreements and legal actions, and overlooked chances to maximize their royalties. Businesses are left looking for a way to handle the difficulties of managing royalties while making a noticeable difference in their bottom line when faced with these obstacles.
Solution
Enter IMA360, a revolutionary AI-powered royalty management solution designed to address the challenges and pain points faced by businesses in today’s dynamic market. Our state-of-the-art platform offers a comprehensive, end-to-end approach to royalty management, streamlining the entire process and providing businesses with the tools they need to maximize their royalty revenue.
IMA360’s cutting-edge solution simplifies the management of royalty agreements, automates payment calculations, and ensures compliance with contractual obligations, all within a user-friendly and intuitive interface. By leveraging the power of artificial intelligence and advanced analytics, our platform delivers unparalleled insights and optimizations, empowering businesses to make data-driven decisions and optimize their royalty revenue.
Expected Outcomes
In conclusion, the challenges and pain points faced by businesses in the realm of royalty management are clear, but so too is the solution. IMA360’s AI-powered royalty management system offers a comprehensive, end-to-end approach that streamlines the process, automates calculations, and ensures compliance, all while delivering unparalleled insights and optimizations. With the vast market opportunity that exists for a robust, AI-driven royalty management solution, IMA360’s platform is perfectly poised to help businesses of all sizes unleash their full potential, driving growth and success in the face of the ever-evolving market. Don’t let the complexities of royalty management hold your business back—experience the transformative power of IMA360’s royalty management solution today.
Elevate Your Royalty Programs with IMA360
At IMA360, we understand the complexity of royalty management and the importance of optimizing royalty processes for business success. Our Royalty Management Software provides organizations with the tools they need to streamline royalty management, enhance accuracy, and maximize revenue streams. With our intuitive platform, seamless integration capabilities, and advanced features, we empower businesses to unlock the full potential of their royalty agreements. Experience the power of optimized royalty management with IMA360’s innovative solution.
FAQ
Royalty management software ensures correct payments and adherence to contractual terms by automating the tracking, distribution, and computation of royalties.
A tool for managing royalties computations, reporting, and payments for intellectual property such as books, music, and patents is royalty software.
The framework or software program that oversees the tracking and distribution of royalties to rights holders is known as a royalty system.
Royalty software streamlines the whole royalty distribution process by automating the administration of royalty agreements, computations, and payments.
Depending on the business and usage, there are numerous sorts of royalties, including print, digital, synchronization, performance, and mechanical royalties.
