Reduce Risks; Improve Relations
Manual royalty management WILL result in errors. We have converted dozens of publishers from manual processes, and we can’t remember an instance where errors were not found during that process. Errors represent risk: legal, relationship and financial. Keep your authors happy. Maintain your peace of mind.
Automated Royalty Calculations
Most issues of accuracy are a result of human error in calculations or failing to carry over balances. Because a computer is handling everything according to a defined set of rules, the chances for errors are substantially reduced when using Royalty Tracker. Royalty Tracker’s reports also help validate your results. We can also integrate with your other systems to reduce the issues associated with duplicate data entry. For example, send payments directly to your accounting system, or retrieve title and ISBN data directly from your production system.
Auditability
An audit is simply a careful analysis of all of your royalty activity to ensure it is accurate. There are several types of audits:
- Internal audits (for internal controls)
- External audits (for tax and compliance purposes)
- Royalty audits (from authors questioning their statements)
Whatever the type of audit you may encounter, Royalty Tracker will provide you with the reports you need to confidently verify your numbers.
Reconciliation
One of the best ways to ensure accuracy is to reconcile your inputs against your outputs. In simple terms, does the data you inputted match up to your royalty statements and payments? Royalty Tracker provides several reports to help you:
- Validate that all sales were successfully imported
- Identify sales with issues
- Compare results against data entered
Author Relationships
Once a book is published, your royalty statement is often the only regular communication you have with your authors. When it’s late or inaccurate, you may not be sending the message you want. Many of our customers tell us that their author relationships are one of the most important aspects of their business. Let Royalty Tracker and AuthorPortal.com help you strengthen that relationship:
- Accurate statements
- On-time payments and reporting
- Professional interactions and image
