The world of media and entertainment moves fast. And one of the biggest pressure points with the explosion of new content for OTT platforms is managing the onslaught of productions simultaneously, and ensuring associated costs remain under control.
On June 23, open-source software specialist Invenio will offer solutions around how those in the production space can more quickly and accurately greenlight their decisions in order to maximize returns on investments, in the webinar “How to Increase Spend Control and Reduce Inefficiency in Your Production Process.”
The centerpiece of the discussion, led by Kedar Patwardhan, SVP and BU leader for media, entertainment and finance: Invenio’s Content Financials Solution. Built on SAP technology, the offering provides tighter controls and financial transparency throughout the creation and acquisition of content, enabling media companies to rein in spending, and manage the entire lifecycle of content.
“We have witnessed a dramatic surge in OTT platforms which has led to ‘content explosion’ in the last few years,” Patwardhan said. “More original content is being created today than ever before. While this is great news for consumers and creative people, it is creating unprecedented challenges for media houses to manage their finances and control the spend over ever-increasing number of active productions. Need for a solution to manage the financial life cycle of content – from green-lighting to amortization – is greater than ever before.”
More accurate cash flow forecasts, less time wasted on the manual approval process, better strategic decision-making, and the elimination of silos all come as benefits with the solution.
Easily integrated with other departments — like rights management — : Invenio’s Content Financials Solution helps to form one automated system that provides companies crystal-clear reports on real-time spending, including an efficient workflow and approval system, all geared toward effective end-to-end financial control.
The discuss will also see Patwardhan sharing how Invenio helped The Star Group (creators of Indian OTT service Hotstar, now part of Disney) to increase overall finance operational efficiency.
To join the free webinar, click here.