Entertainment and media companies—such as content producers, talent management companies, and film distributors—have unique and sometimes highly complex accounting and financial management challenges, from tracking production costs to accounting for copyrights and book patents.
As these businesses grow, the demand for flexibility, in-depth reporting, and scalability drive many to consider cloud-based financial management solutions such as Sage Intacct. The following are four of the key benefits that make Sage Intacct a smart choice for many entertainment and media companies.
Take advantage of the cloud
Moving accounting and financial management to comprehensive cloud ERP solutions, like Sage Intacct, simplifies IT and enables businesses to focus on what they do best. The benefits of a cloud-based financial management solution include:
- Anytime, anywhere, any-device access to real-time dashboards, KPIs, and reports
- Scalability to support dynamic growth worldwide
- Reduced costs, with less need for on-premises capital investments and lower personnel costs
Improve visibility and insights
Companies need visibility across the entire organization to make better, faster decisions. Sage Intacct makes that possible with features including:
- Reporting tools that are easy to use, customize, and modify as needs change
- The ability to tag each financial transaction with key dimensions such as customer, episodes, and series
- Customizable, real-time reports that incorporate financial and non-financial data (headcounts, square footage, number of screens, etc.)
- Support for multiple methods of accounting (accrual, cash reporting, tax basis, etc.)
- Easy-to-use dashboards that offer real-time filters and the ability to rapidly drill down to visualize key data
Automate manual processes
By automating manual, repeated processes such as bank reconciliations and accounts payable, businesses can save hours of time each week and free staff to focus on more business-critical operations.
Sage Intacct can be integrated with APIs, so businesses always have one version of the truth that is available in real-time across all user interfaces, eliminating the need for time-consuming manual data transfers. Businesses can also save time with electronic approvals and workflow that automate bill payments.
Grow at your own pace
Most entertainment and media companies find it best to begin with a core financial application to meet essential requirements, such as multi-entity management and dimensional reporting. Then, they integrate additional strategic solutions to automate more business processes, such as accounts payable, month-end close, and expense management.
One of the advantages of Sage Intacct is that it integrates easily with many other best-in-class applications, from ADP for HR and payroll to Adaptive Insights for corporate performance management.
Interested in learning more? Contact us today to see how your entertainment business can benefit from Sage Intacct.
