Managing royalties and licensing agreements can be complex, especially for industries dealing with intellectual property, media, and entertainment.
SAP Royalty Management provides a comprehensive solution to simplify and automate the management of royalty contracts, ensuring accurate calculations, timely payments, and compliance with contractual obligations.
This article explores how SAP Royalty Management empowers businesses to streamline royalty processes, reduce manual errors, and gain real-time insights into royalty-related financials.
Understanding the SAP Rights and Royalty Management Solution
By offering robust tools for managing complex agreements, SAP Royalty Management helps organizations improve efficiency, transparency, and profitability in handling financial obligations, royalty agreements, and licensing arrangements.
Users can leverage the SAP S/4HANA solution for rights and royalty management by Vistex to gain deeper insights into inbound and outbound royalties and maintain greater control over IP management processes for assets like media, music, and other brand licensing materials.
With cloud or on-premise deployment, this solution allows organizations to support the complete IP rights lifecycle and optimize integrated business processes, further improving tracking for financial obligations and increasing revenue.
Features
Rights management
- Improve oversight for inbound, outbound, and owned rights
- Maintain effective rights compliance across critical rights positions
- Clear rights for usage and manage available rights for maximum exploitation and optimization
Inbound royalties
- Track and audit royalty payments for licensed IP rights contracts
- Automate inbound royalty transactions and validate high volumes of revenue income
- Post royalty income to the general ledger and share metrics between companies
Outbound royalties
- Optimize payments to royalty recipients
- Improve visibility into guarantees and advances for better profitability insights
- Automate core settlement processes to manage royalty expenses
Benefits
Asset optimization
Manage rights contracts and royalty agreements in a single system, including asset availability, IP usage, and other key metrics.
Operational efficiency
Leverage a centralized data repository to manage critical financial processes and consolidate data for all IP contract types.
Higher profitability
Drive greater value and profitability by tracking all money owed and monetizing IP assets through both license and product sales.
How Can We Help?
From outlining plans for an effective SAP implementation project to navigating complex integrations between SAP and non-SAP systems, leading data migration across platforms, or keeping your internal teams on the same page, Surety Systems has you covered.
Our senior-level SAP consultants have the skills and experience to handle your critical project needs and ensure your organization is prepared for continuous improvement over time.
Contact Us
For more information about our SAP consulting services or to get started on a project with our team of expert consultants, contact us today.
