Great Royalty Management Is The Heart & Soul of a Publishing Business

What makes a good publishing company great? Best-selling work is an obvious answer. But what really sets the best publishers apart is their foundation: the advanced infrastructure and smooth workflows that let you create and sell great content. Especially because the publishing sector has been affected by the emergence of the coronavirus, efficient systems can make the difference between success and loss.

Royalties are an important part of these bases. Efficient and timely royalty management helps create a professional publisher that is valued by authors, operates profitably and can plan the future with confidence. Therefore, we recommend that you automate your royalties using the royalty management software.

If mismanaged, royalties can be a major loss to a company's profitability and reputation. Manual management instead of software management takes hours and creates huge frustrations, excluding staff from the most productive and profitable tasks. It can also open up royalty calculations dangerously to human error, which can lead to over or underpayment of money owed to authors.

Both consequences entail significant risks for a company. You pay too much and profits are compromised, but you pay too little and the authors' opinion of you will be seriously damaged. Either way, error correction takes more time and effort and creates unnecessary stress. In the worst case, they can open up a company to legal action.

Word of mouth is spreading rapidly in this industry. A publisher prone to royalty errors runs the risk of building a bad image in author communities and leaves them less motivated to create and promote superior content. Negative impressions from partners can be retained, which can make it difficult to maintain or attract the caliber of writers they need. Your creators will trust you even more if they know you have high-quality royalty management software that tracks their royalties.

Another important impact of inefficient royalty management is strategic planning. Poor quality royalty data and low visibility of money due to authors can compromise an editor's ability to accurately manage cash flow and forecasting. But royalty management systems that generate accurate and timely data can provide publishers with useful sales information and help them make better decisions about startup, marketing and more.

Publishing is, to some extent, a risk game: trying to predict which books will soar, reducing costly mistakes and wasting resources to give them the best chance of success. And in turbulent times like this, the risk is increased. Because MetaComet solutions are tailored to unique publishing requirements, we know where and how we can help you reduce that risk. Reach out to our team to learn how we can help you build the solid foundation with the royalty management software every business needs to stay successful and grow.