When rights are sold or consumed, then royalties need to be paid. As new royalty models require quick initiatives and complex components, it’s important to have solid processes in place to minimize risk and maximize profits. 

It’s also important to see the big picture with full visibility. Without a single source of truth to retrieve data you will not get full visibility to reach the peak in revenue management and this will strongly impact the GTN of your royalty contracts. Full lifecycle visibility is beneficial to your company on so many team levels because it provides the ability to leverage vast amounts of internal and external data and make informed business decisions. 

Auditability, tracking and data management are vital functions for any organization that tracks rights and royalties processes and are key in ensuring that royalty monies owed or due are administered accurately. Important to your bottom line is also the ability to integrate the cost that a royalty fee represents when you are commercializing a product and are able to capture all of the details in your Gross-to-Net. 360° visibility for contracts (inbound or outbound royalties) is crucial along with viewing simulation and margin impact analysis, traceability and auditability for all processes and every action. Are you confident that your current R&R solution can handle these elements of collaboration without revenue leakage and cloudy data?