Royalty Tracker Case Studies

Rowman & Littlefield
Silver Moon Press

Rowman & Littlefield

Challenge:
Since its founding 30 years ago, The Rowman & Littlefield Publishing Group, with nearly 30 imprints, has grown to become one of the largest independent book publishers and distributors in North America. Along with success came a sea of 20,000+ contracts and 35,000 statements, each with multiple payment variations. Projecting accurate cash flow needs and determining accounting balances had become overwhelming. Royalty statements were frequently late to accounting, causing internal frustration and affecting the publisher’s reputation with authors.

Solution:
A cutting edge, automated system became an obvious solution for Carla Quental, Vice President of Customer Service, who also managed the Royalty Department. She chose The Royalty Tracker® System because the it is easy to use, handles a high volume of transactions, and provides valuable financial reports used to manage cash flow and calculate key balance sheet metrics. She also likes that it is built using proven software engineering principles, making it both state-of-the-art and flexible. Organized by title, The Royalty Tracker® Solution tracks number of authors, variations in rates, expenses, subrights, overpayments and even stores notes and verbal addenda to contracts.

Results:
It is now possible to generate on-time statements for all imprints allowing for more timely communications to Accounts Payable. Anticipating cash flow and retrieving financials is quick and easy. “Royalties are complicated by nature,” says Quental. “The Royalty Tracker® Solution makes the process as simple as possible. It’s very user friendly—Windows based, click and drag — and easy to learn. It’s simple to navigate around the screens and staff can find answers to author questions quickly.

“Before MetaComet® Systems, royalty tracking and reporting was a nearly insurmountable challenge. We now have a very smooth process which enables us to meet the needs of our authors, editors, and CFO.

“MetaComet® Systems is always responsive and can communicate equally well with business people and systems professionals alike. It has been a great investment.”

Silver Moon Press

Challenge:
Silver Moon Press is a growing publisher for the school and library markets. They used Excel to track sales of each title and to generate and print invoices. At the end of each six-month royalty period, they tallied everything up all over again. The process required lots of keystrokes, many steps and, frankly, a high risk of human error.

Solution:
David Katz, company founder, was ready for a new royalty software package, but only if inventory and invoicing were seamlessly integrated. Though not an accountant, Katz had come to understand that the royalty process is an accounting exercise with an important potential benefit—managing cash flow. He surveyed the market and found systems that could do what he needed, but only if he implemented an entire publishing package. He would have to pay for features he didn’t need or want, undergo a complex installation process and exceed his budget. The Royalty Tracker® System didn’t do any of those things. It gives him exactly what he needs.

Results:
“The Royalty Tracker® System eliminated whole functions I personally had to do before,” says Katz. “Our statements are much more accurate. And when there are mistakes, the system flags them. When the data is corrected, it’s automatically integrated into the system.

“The MetaComet® staff is very responsive. If there’s a problem or an area that needs improvement, they get right on it. I’d recommend The Royalty Tracker® Solution for small and large companies alike.”