Why We Automated Revenue Management Workflows for Our Clients (and Eventually Ourselves)
BLOGAug 13, 2020
Sometimes, products or applications come along that look to solve existing problems, address existing challenges, or are innovative and say, “What if?” Revedia, our new revenue optimization platform, looks to do all three of these things. Revedia dynamically derives actionable intelligence by analyzing data from transactions, agreements, audit reports, and real-time sources.
Listening to client frustrations and understanding the media industry allowed us to create a product that addresses the immediate challenges faced by media organizations and supports and projects future growth. The question presented over and over again is, “How powerful are insights when they are derived, not by a single set of key data, but by a multitude of data elements?” What if you, as a media organization, could see all of that critical license fee data in one single place? How much value would that provide you?
Revedia can immediately:
- Derive business insights and maximize revenue generation by analyzing the entire revenue picture in a single platform
- Segment and tag audit reports by findings and variance types
- Take the guesswork out of distribution partner audit results, making them more actionable
- Identify subscriber trending by capturing both real-time remittance and payment information
- Incorporate trending logic to forecast revenue more accurately
- Take the headache out of the agreement renewal process by providing transparency and visibility of crucial deadlines, revenue at risk, and renewal status
The more data you put into the Revedia platform, the more powerful and actionable the results will be. By storing audit reports, capturing real-time remittance data for all distributors, and analyzing all license fee agreements, you can measure performance when key terms change, or new price points are adopted. What if you want to evaluate subscriber performance over time to determine future rates or rate structure? With Revedia, you can not only look at data today, but also assess projected outcomes tomorrow, this year, or this decade. What material events are impacting your revenue?
Knowledge is Power
Before walking into any negotiation, having critical data at your fingertips is invaluable. Through Revedia, you can compare language by clause across multiple agreements, link audit findings directly to the applicable agreement clauses and retain notations during the negotiation process. The insights Revedia is designed to produce are exactly what your distribution team needs to be more powerful at the negotiation table.
The Future of Revenue Insights:
Symphony MediaAI always has been, and always will be, a customer-first organization. We anticipate that through our customer partnerships, we will continue to expand the Revedia footprint in the media industry. What new elements are needed? How can we work with you to help solve your unique problems? The media industry is constantly changing and evolving. With the introduction of OTT and new consumer platforms, we recognize that to provide actionable solutions, we need to grow and develop with the industry. Sitting still will not work in this environment.
To learn more about Revedia, contact Symphony MediaAI today.