Posted by:
Hannah Greedy
Publish Date:
24 May, 2022
In the whirlwind world of media content creation, money is at the centre of everything. Unfortunately, the current systems in place for financial directors make it almost impossible to effectively manage budgets, control overspend and make effective, quick decisions for what could be the next big thing. But what if there was a complete, end-to-end solution out there that could help media companies control content budgets and drive efficiencies up, instead of down? Well, now there is – Invenio Content Financials.
Faster, Improved Decision Making
In any line of business, it is important to have all information available to you before you make any financial decision. However, in the media industry, gathering all the data you need to make an informed decision, such as profit and loss, cash flow forecasts and budget estimates, can be a lengthily process. In fact, it often takes so long that the information you need has become outdated in the time it took to reach you. This means that financial managers are not only wasting time chasing useless data, but they are unable to make quick, efficient decisions. Invenio Content Financials provides a simple and sophisticated system for financial departments to take control of spending and budgets, thanks to integrated, centralised data management. With every department using the same systems to record information, it is simple for financial directors to pull up spend reports, budgets and more in seconds, allowing them to make better, strategically sound decisions.
Greater Transparency
The media world moves extremely quickly, so one of the biggest challenges financial directors face is making quick financial decisions in order to maximise the lifecycle of their content. Without transparent access to information, this can be incredibly challenging. The Invenio Content Financials solution is built on SAP technology, providing an agile and crystal clear view of the financials from conception to release. Thanks to its cross-departmental integration systems and in-built document automation, it allows financial directors in the media industry an unprecedented level of transparency into every level of spend in the content process. Expenses are recorded centrally, with an automated approval process that compiles all data a real-time financial reporting module, which gives greater visibility and detailed cash flow forecasts.
Improved Control Saves Time And Money
In any industry, one of the biggest challenges for financial directors is control of spending. But in the media industry, this is amplified by the fast-paced nature of the business, which leaves financial directors struggling to control production budgets and manage overspending at every level. A lack of financial forecasting means expense control is almost impossible, with no controls in place for spending. But Invenio’s Content Financials solution pairs strict spending controls with automated approval and real-time reporting, to provide a much greater level of financial control at every stage of the content process. This essential step means that all other departments know exactly what their budgets are at all times, which in turn results in less overspending and less time wasted trying to generate reports and manage spend.
If you are a financial director, CFO or even a manager in the financial department of a media production company, this solution is for you. Not only will this solution address a number of frequent issues you face on a daily basis, but it will reduce total operating costs by creating a single, cross-departmental solution. This ground-breaking solution will be officially launched at SapphireNow, the premier SAP and ASUG conference in Orlando, so if you’re there please drop by the Media demo station in the Industries Campus and you will find us at booth IN167. For more information about Invenio Content Financials, get in touch with our sales team today, and we would be happy to arrange a free demo.