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Finance Integration Benefits
The integration of Contract Administration,
Rights Management, Workflow Management and
Finance empowers an organization to grow and prosper. Contract Rights
Management establishes a solid foundation of shared information access,
administrative efficiency and intelligent operations that revolutionizes how
an organization views itself. Executives are able
to push innovation and risk taking with complete confidence in the ability
of managers to execute their directives.
Non-financial managers in Sales, Legal and Operations
benefit from queries that start on the familiar ground of contracts,
customers or assets and then easily break out invoice, cash receipts,
royalty and revenue details with a few clicks. Staff competence mushrooms as
the burden of redundant data entry and cross-validation is lifted. Reports
and Financial Drill Down queries cut across traditional departmental and
workflow boundaries to offer discriminating views
and unexpected insights.
To be specific, full financial integration allows a
single query screen to display contract details adjacent to all related
billing, collection, recoupment and administration activities. These data
compilations then become available for export via popular graphical and grid
formats for use in further analysis or visual presentations. Data
Pivots within each web query further inspire users by instantly
reorganizing financial information by Salesperson, Agent,
Division, Territory, Right and Party. Direct access
to Source Contracts, Invoices, Payments and Royalty Reports builds
confidence in the content, accuracy and validity of
every summary total.
In the absence of a corporate intellectual property
accounting system, standard Accounts Receivable modules authored by SAP,
PeopleSoft, Oracle, JD Edwards, Lawson, Great Plains (and others) are
called upon by most companies to provide basic invoicing, cash receipts and
general ledger functionality. Invoices, credit
memos, debit memos, cash allocations, general ledger updates and revenue
postings are manually calculated and painstakingly recorded as individual
transactions and adjustments.
The primary goal of Accounts Receivable is to process
invoice and cash receipt transactions that are managed by customer account.
Invoice line items are posted as general ledger revenue and receivables
journal entries. Invoice line items are also typically used as a basis for
sales reporting or as a reference when credit or debit memos are created to
adjust their contents.
Intellectual Property Contracts typically involve a
stream of planned and contingent invoices. If a contract remains unaltered
during its lifecycle, these invoices could reasonably be produced, printed
and posted to any general purpose accounts receivable software product.
However, this one-way data transfer inevitably
sacrifices billing, collections and revenue details that could be
invaluable in analytical reports and subsequent financial processing.
For example, when a cash receipt is applied to an
invoice in a standard receivables system, a general ledger journal voucher
is generated debiting a Cash account and crediting a Receivables account. No
consideration is given to the contents of that invoice. Contract Rights
Management performs this same function but adds an additional capability:
cash-basis revenue recognition. This function examines each invoice line
item for possible links to assets, territories, rights and distribution
channels. The information is then used to generate a parallel posting of
cash revenues that also balances to the accrual entry for cash
received. This posting forms the basis for automated calculation of Third
Party Participations Payable. Cash-basis
revenue recognition is impossible within a standard accounts receivable that
provides only an asset code and general ledger account at the invoice line
item level.
Reminder: System 7 Seminar -
London - 3 July
Jaguar Consulting, in conjunction with European
Affiliate, TES Consulting, and sponsorship by Globix are proud
to present a new chapter in the evolution of Contract Rights Management
systems. In a world where global communications and 24/7 service expectations
predominate, the importance of an ability to continuously monitor key
administrative operations cannot be overstated. My Jaguar was developed to
give System 7 users the confidence to know that they are on top of their
responsibilities at all times.
This seminar will present the fundamental capabilities
and information flows of System 7 and then dive into a careful look at how
My Jaguar successfully provides a focused,
personally tunable environment that both reminds and empowers its users.
Users will find that it effectively replaces the standard System 7 menu with
an access style more akin to a drilldown investigation than a passive list
of available functions or highlighted links.
Early registration is suggested to ensure attendance.
| WHEN |
Thursday, 3 July, 2003
9:30 AM to 12:30 Noon (registration and coffee at 9:00)
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| WHERE |
Prospect House
Globix Seminar Facility – Ground Floor
80-110 New Oxford Street
London WC1A 1HB
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| WHAT |
Seminar
Contract Rights Management and Finance
Systems Solution
Seminar is Free
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| HOW |
To register visit
http://www.tes-consulting.com
or
http://www.jaguartc.com/seminars/
For additional information contact Keith Wyld at
+44 (0) 1702 233063 or email
keithw@tes-consulting.com |
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Reminder - Digital
Asset Management Seminar - 8 July
North Plains Systems, author of leading
Digital Asset Management solution, TeleScope Enterprise 7, will be
presenting an all day seminar consisting of an introduction to this latest
version of TeleScope (9:30 AM to 12 noon) and a technology briefing on the
secrets to TeleScope's successful installations at Warner Bros., Sony
Pictures, Viacom, HarperCollins Publishers, Harcourt Education and many
major owners, producers and distributors of intellectual property (1:00 to
4:00 PM).
This one time event will be held at Sony Pictures
Entertainment in Culver City on 8 July. It is intended to be a
comprehensive introduction to enterprise deployment of DAM systems, an area
in which North Plains Systems stands head and shoulders above other, more
limited, alternatives. For more information contact Dennis Brown at
805.492.4808 or dbrown@northplains.com. Seating is limited. Early
registration is encouraged.
About
Jaguar News
Jaguar News is published periodically for the
purpose of maintaining communications with Jaguar’s clients, prospective
clients and other parties interested in the field of
Intellectual Property
Contract Rights Management. Jaguar Consulting was founded in 1985
for the express purpose of designing, developing, installing and
supporting Intellectual Property Software
Solutions.
Clients include Alliance-Atlantis Communications,
Cinar, DIC Entertainment, Explore International, Flextech Television,
Goodtimes Video, Hallmark Entertainment, Harmony Gold, HIT Entertainment,
Jim Henson Productions, Lions Gate Entertainment, Major League Baseball,
MGM, NBA, NBC, National Geographic Society, Nelvana, Sesame Workshop,
Southern Star, Warner Home Video and WNBA.
System 7 Universal Rights Management is
Jaguar’s seventh generation software product. It is an all-new design
created specifically to bring contract rights management technology to all
forms of intellectual property, including patents,
copyrights, trademarks, trade secrets and
permissions. This groundbreaking system features a
Universal Contract Database, Multi-Level Rights Inheritance, a
fully-configurable Custom Rights Framework, and Integrated Rights
and Royalties Management. System 7 is available in
the following software modules: System 7 Intranet, Contract Administration, Rights and
Restrictions, Workflow Management, Revenue Accounting, Royalties Receivable
and Participations Payable.
Further information including
a white paper, System 7 Fundamentals, and a
test drive of System 7 Intranet is available at
http://www.jaguartc.com/system7.
Jaguar Consulting Inc.
Pasadena,
California
Lincoln Center, New York
London, United Kingdom
For additional information: Visit http://www.jaguartc.com
Or contact Jaguar at 626/796-1955 or
info@jaguartc.com
If you wish to discontinue your receipt of Jaguar
News, simply reply to this email with “Unsubscribe” in the subject line.
If this email was forwarded to you from another email address, please
indicate the original address in the subject line as well.
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