A global music publisher and distributor wanted to transform its royalty management process to better manage sales from music records as well as digital downloads. The company sought to streamline business processes to capitalize on royalties from digital music revenue.
Infosys transformed the company’s royalty management capability. Our solution aligned the enterprise with workflows for seamless royalty management and financial accounting. We introduced new workflows to manage processes for master data entry, leveraged tools for accelerated data entry, and automated processing of monthly and quarterly data for income-expense analysis and reconciliation reports.
Key Challenges
- Legacy processes and systems were equipped for sales of music records, but they could not assimilate revenue from digital downloads.
- Rising sales from digital music increased the sources, volume, and complexity of music sales data.
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The Solution
Infosys streamlined business processes and modernized legacy applications for superior royalty management from digital music revenue
The Infosys approach focused on making a business impact across people, processes, and technology. Our team introduced automation into the royalty management business process to eliminate human intervention and redundancy. We simplified applications to make them more business-oriented and user-friendly.
Infosys focused on business outcomes at the architectural and application level. We streamlined business processes before undertaking detailed analysis, planning, and mock runs. Our team incorporated data governance techniques for master data management and implemented sophisticated methodologies to manage a huge volume of sales data.
Integration of music ecosystem increased sales
- Replaced legacy applications with bespoke solutions for better sales and royalty management.
- Integrated digital music with records sales to improve management of artists and music labels.
Benefits
Our solution improved turnaround time by 75% despite the company registering a 400%+ growth in the volume of sales data.
The music company saved US$ 3 million within three years through advanced sales management tools and business process automation.
