Virtusales has released a new royalty software solution for companies large and small. One of their first clients for this solution is Random House, which also uses the another Virtusales module to store all bibliographic data about their titles. www.virtusales.com
BiblioRoyalties manages the increasingly complex royalty calculations and payments for digital content and physical books.
It supports head contracts, subright contracts and sub-licensed subrights contract deals. Records payment details for authors and licensees, self-billing agreements & agent commissions, and allows payments to be held or released on demand.
Other Major Features Include:
- Flexible royalty rates that change according to dates and events (e.g. rates before and after advance earned out)
- Royalty run for individual contracts or whole period on demand
- Automatically explode packs into components for royalty processing
- Integration with accounts and title profitability systems
- Integrated royalty and payment ledgers
- Full sales editing with robust audit trail
- Joint accounting across several titles
- Produce royalty statements on demand
- Raise subrights invoices and post income
- Scan subrights statements and attach to author statements
- Produce covering and credit control letters
Advanced Calculation Engine
- Biblio Royalties includes a calculation model that calculates royalty payments with multiple royalty calculation methods for escalating royalty rates and automatic handling of high-returns situations.
- The new system processes and pays the author share of earnings and supports head contracts, subright contracts and sub-licensed subright contract deals. Sales can be fed from multiple disparate sources at ISBN or non-ISBN level.
- High speed calculations using latest multiprocessor technology
- Variety of calculation methods including local currency pub price and price received
- Unlimited calculation rules & rates across bindings, markets and discount bands
- Drill into royalty calculations to view and edit the sales data behind them
- Configure separate royalty and subrights shares for payees
- Track multi-currency advances and deductions
- Handle multiple retained income reserves
Fully Integrated or Standalone Solution
Biblio Royalties has been developed as a fully integrated module for the Biblio3 and BiblioLIVE Publishing Systems, offering a single user interface for complete title information and royalty management. It can be installed as a standalone Royalties solution or as an integrated module to Biblio3 or BiblioLIVE. Operating through a browser, it can be provided as a bureau service.