MetaComet™ Systems today announced the availability of both a Statement Logistics feature and the Royalty Liability calculator for The Royalty Tracker™ Solution. The new Statement Logistics capability addresses an important complexity of royalty calculations and accounting—managing the timing. When statements must be printed, reviewed, sent out, and, finally, paid is key to successful royalty management. This critical factor is often overlooked.
With the new Statement Logistics feature, The Royalty Tracker™ System users have precise control over the management of statement printing and distribution. Users can easily control which statements need to be printed and when. After statements have been reviewed, royalty managers can indicate which have been approved so that they can be sent out to royalty recipients. Finally, the new feature allows control of exactly when checks are to be cut.
To complement this enhancement, MetaComet™ Systems built in a new liability calculator, which shows users exactly what the royalty liability will be for a given period. They simply select the statements to include, and The Royalty Tracker™ Solution quickly calculates the liability, providing powerful assistance in managing cash flow.
In designing these features, we listened to the needs of our customers. They tell us they always feel a sense of relief when statements are printed out. Now that they had conquered the complexity of calculations, they were eager to reach the next stage of cost savings and cash flow management. This new feature not only reduces the administrative costs associated with managing royalties, but it also gives customers precise control of exactly when payments are made, enabling them to manage their cash flow.