You don’t need to use complex computing techniques to distribute royalty payments - but could you? And if you could, would it make life easier, saving you both time and money?
The answer to both of these questions is most definitely YES. Our intelligent software uses powerful algorithms and machine learning to automate royalty processing.
Distribution statements from your collection societies and sub-publishers can be matched to your library in seconds and statements automatically generated and sent to your clients. You don’t need to understand the technology to benefit. In fact, we have hidden all the tech out-of-sight, so you won’t even realise it’s there!
Our intelligent software uses powerful algorithms and machine learning to automate royalty processing.
But is this overkill? Are we using a sledgehammer to crack a nut? We don’t think so. You see RoyaltyCloud was born out of a chance conversation between a Music Publisher and a Data Specialist. The Music Publisher was spending far too much time allocating distribution statements to their library in order to pay their clients. They were using the popular spreadsheet package, Excel, but running into difficulties when the two sets of data differed. For example, when a sub-publisher’s statement had a different spelling for the title of a Works or the PRS had issued a new tune code. It is not a surprise that this was taking an age – they were using the wrong tool for the job.
Now the Data Expert knew nothing about music and even less about music royalties, but he did understand the complexities involved in managing large sets of imperfect data and importantly the pitfalls of trying to do this in Excel (we will save these for a future post). Anyway, to cut a long story short, the Data Expert knew a Software Developer and together they built RoyaltyCloud. We might not know our Bluegrass from our Country or our Indie from our Soft Rock but we understand the principals of sound data management and have created the complete front-to-back royalty processing system and packaged it up it in an easy to use cloud based tool. Get in touch to learn more and join our growing community of happy users.
Russell Tew 10th Feb 2021