There are many companies in the high tech, pharmaceutical/biologic, entertainment and apparel industries that generate revenues based on royalties for technology or intellectual property (IP) embedded in the products of their licensees. These companies depend on channel royalty reports being submitted by their licensees. However, ensuring royalty compliance ends up being a time consuming proposition, and if it is not done right, it leads to a significant loss of revenue.
Industry-Specific Challenges
For IP and Royalty Compliance management, some of the key challenges and competitive differentiators are:
- Collecting and normalizing royalty-related data.
- Reconciliation of data from multiple sources to detect potential under-reporting.
- Management of royalty agreements.
- Royalty accounting and revenue management.
- Royalty forecasting.
- Royalty analytics and dashboards.
- Complex sales credit assignments based on technologies, territories, named accounts and splits.
- Royalty compliance risk determination.
- Field Compliance for gray market abatement.
- Royalty Expense calculations
