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MetaComet™ Systems, a premium provider of royalty systems for media
companies, announced an agreement with industry leader Harcourt
Education in which MetaComet™ will provide
The Royalty Tracker™
System
software and services to help Harcourt manage royalties for all of
its U.S. divisions.
“This is an excellent validation of our commitment to helping
publishers and entertainment companies meet the challenges of today,
while helping to position them to experience success in the
marketplace of tomorrow,” said MetaComet™ Systems president David
Marlin, who co-founded the South Hadley, MA, based company. “This
solidifies our position as the premier provider of royalty systems.
It is an honor and a privilege to partner with a company of
Harcourt’s stature. Harcourt joins the list of the industry’s top
companies who now use The Royalty Tracker™
Solution. With Harcourt now part of
our growing client base, we are excited to continue our perfect
record of successful implementations. Our users continue to praise
the effectiveness of our product and its superiority to other
solutions for handling this important financial function.”
“Accounting for royalties is incredibly important and also
incredibly difficult because we have literally tens of thousands of
contracts with authors, and each one needs to be tracked in a timely
and accurate manner,” said Marc Silverman, Assistant Controller at
Harcourt Education. “MetaComet impressed us with their experience
and expertise in this critical business function. We’re looking
forward to a long term partnership.”
Prized for its ease of use and flexibility, MetaComet™’s
The Royalty Tracker™
Solution also features tools to help publishers comply with the
requirements of Sarbanes-Oxley, including powerful new reports and
increased user-level access control.
“Over the last year, Sarbanes-Oxley compliance has become a
primary concern for CFOs and their royalty departments,” said
Marlin. “Statements must be accurate, reports must reconcile, and
proper controls must be in place. This places a substantial burden
on publishers and other licensees because royalties represent an
important liability on their balance sheets. With the new financial
transparency required by Sarbanes-Oxley for strict royalty
accounting practices, we have designed The Royalty Tracker™
System to fulfill
this need.”
The Harcourt Education companies that will be using
The Royalty Tracker™
System include: Harcourt School Publishers; Holt, Rinehart and
Winston; Harcourt Achieve, Professional, and Trade; and Harcourt
Assessment. Implementation of The Royalty Tracker™
Solution is expected
to be completed by late summer of 2006.
About Harcourt Education
Harcourt Education is a leading global education provider serving
students and teachers in Pre-K through grade 12, adult learners and
readers of all ages. Harcourt companies provide a variety of books,
print, and electronic learning materials, assessments, and
professional development programs. The Harcourt Education companies
include Harcourt School Publishers; Holt, Rinehart and Winston;
Harcourt Achieve, Professional, and Trade; and Harcourt Assessment.
Harcourt is a member of the Reed Elsevier Group PLC, a world leading
publisher and information provider. For more information, visit www.Harcourt.com.
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