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.
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 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 RoyaltyTracker® Solution tracks number of authors, variations in rates, expenses, subrights, overpayments and even stores notes and verbal addenda to contracts.
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.”
– Rowan & Littlefield