5 Ways Symphonic's Recoupment Tool Can Save You Time
Posted: Sun Dec 22, 2024 7:28 am
Whether you're an artist, record label or production team, Symphonic's Recoupments tool streamlines financial collections from our clients like never before. No matter how you need to manage your refunds, this tool allows you to do it easily and reliably right in the SMS. In this article, we'll explain some of the ways this tool can make your life easier.
5 Ways Symphonic's Recoupment Tool Can Save You Time
Here is the summary…
Symphonic’s Recoupments tool streamlines financial reimbursements in a variety of scenarios, catering to the needs of artists, labels and production teams. The tool accommodates a variety of business email address list poland financial arrangements where expenses or advances need to be recovered, and guides users through these often complicated scenarios, demystifying the process without the need for laborious manual calculations to determine artist balances and payouts.
The interface clearly defines who will reimburse an expense and for which release. Additionally, automating the recovery process allows artists and labels to focus less on financial administration and more on creativity and production, which is where they would rather spend their time.
First dollar scenarios
Imagine you are a record label that has just signed a new artist and they have released an album. You (the label) can choose certain collaborators, such as a contributing artist or producer, to be paid from the first dollar earned, with the rest of the expenses being recovered from the earnings of the other collaborators. This allows for greater flexibility in enabling certain contacts.
Shared expenses
In a situation where a label and an artist have agreed to share the production costs of a music video, this tool allows them to proportionally distribute these expenses. As the music video generates revenue, both the label and the artist can recover their respective shares, simplifying the financial management of joint projects.
5 Ways Symphonic's Recoupment Tool Can Save You Time
Here is the summary…
Symphonic’s Recoupments tool streamlines financial reimbursements in a variety of scenarios, catering to the needs of artists, labels and production teams. The tool accommodates a variety of business email address list poland financial arrangements where expenses or advances need to be recovered, and guides users through these often complicated scenarios, demystifying the process without the need for laborious manual calculations to determine artist balances and payouts.
The interface clearly defines who will reimburse an expense and for which release. Additionally, automating the recovery process allows artists and labels to focus less on financial administration and more on creativity and production, which is where they would rather spend their time.
First dollar scenarios
Imagine you are a record label that has just signed a new artist and they have released an album. You (the label) can choose certain collaborators, such as a contributing artist or producer, to be paid from the first dollar earned, with the rest of the expenses being recovered from the earnings of the other collaborators. This allows for greater flexibility in enabling certain contacts.
Shared expenses
In a situation where a label and an artist have agreed to share the production costs of a music video, this tool allows them to proportionally distribute these expenses. As the music video generates revenue, both the label and the artist can recover their respective shares, simplifying the financial management of joint projects.