When it comes to rights management in the media and entertainment sector, there’s a lot to keep track of –– especially when it comes to contract management. Without a cohesive process in place, myriad problems can arise, such as manual errors, mismanagement, and even interruptions downstream that wind up halting production on large revenue driving projects.
Here are 3 ways a third-party contract management tool can improve organizational efficiency for M&E companies.
- It Connects Disjointed Business Units
It’s typical to find producers, distributors, and sales agents operating across different countries and time zones. With an enterprise-level contract management solution, you can rest assured knowing that separate teams are always armed with the information they need to operate more efficiently at global film markets.
- It Protects Against Errors and Vulnerability
In recent years, the M&E space has become particularly vulnerable to cyber attacks. By working with a SOC 1 and SOC 2 certified contract management vendor, you can ensure that your intellectual properties are protected from internal mishaps and malicious external threats and securely accessible by all business departments.
- It Eliminates Repetitive, Time-Consuming Steps
Most media and entertainment organizations have too many contracts to manage manually. With a cloud-based contract management tool, you can easily automate the complex contract creation process. FilmTrack’s easy-to-use, central repository gives you the ability to quickly find what you are looking for without having to dig through documents one by one. Furthermore, you can easily store, manage, and access your contracts, deal points, and associated documents all within the click of a button.
As continuously changing technologies, formats, and channels force you to adapt your business and revenue models, you need a contract management tool as flexible and scalable as your organization. If you’re ready to improve productivity in 2018, contact us today to book a free assessment.