Don’t Panic…
In developing our transformative royalties tool at Molten Cloud, we've discovered a surprising truth: the data most film distributors rely on day to day, is riddled with inaccuracies. Statistically speaking, this means you suffer from error-laden data too, probably more than you're even aware of. Don't worry, you're not alone in this. Across the industry, operations are being built on a shaky foundation of missing, mismatched, or inaccurate data, from contracts, to rights, titles, and royalties. These errors range from minor headaches, like inconsistent title spellings, to major issues with significant legal and financial consequences.
These inaccuracies pose a significant challenge, particularly when it comes to royalty calculations. Royalty calculations aren't just another item on your to-do list; they're the backbone of your financial operations, demanding nothing short of 100% accuracy. Settling for anything less? That's simply not an option.
The Root of the Issue
So, how did we get here? The primary culprits are manual processes and a mosaic of disjointed tools, leading to a landscape where inaccurate data has reached epidemic proportions. The absence of deep data integration means there are no safeguards against inaccuracies, and the task of managing data for more than a modest library quickly becomes untenable for any human or team. As the industry has pivoted to streaming and navigated the complexities of digital distribution, the volume of data a distributor must manage has grown exponentially, turning data accuracy into a Sisyphean task.
Molten Cloud's Solution: The Data Health Check Tool
Recognizing the pressing need for clean data - especially when it comes to the crucial task of royalty calculation, we created the Data Health Check tool. Here’s how it works. The Data Health Check tool meticulously scans your data, identifying any discrepancies or errors, ensuring that your operations are built on a solid foundation of accurate data.
Consider a scenario where you're distributing content internationally, and a revenue report from Hulu lists a title in German, but your records have it in English. This creates a mapping issue, complicating royalty calculations, since the deal structure is linked to a different title name. The Data Health Check tool not only highlights these issues but also facilitates on-the-spot corrections, allowing you to map data errors, like disparate title names effortlessly. This ensures that errors are corrected once and for all, enabling Molten Cloud's Royalties tool to perform its magic: effortless ingestion and near-instantaneous royalty calculation with the simple click of a button.
Molten Cloud is revolutionizing the way film distributors manage their data and calculate royalties. By demanding and ensuring clean data, we're not just offering a tool; we're providing a comprehensive solution to one of the industry's most persistent challenges. Join us in embracing a new standard of accuracy and efficiency in royalty calculations, where clean data isn't a lofty goal—it's a given.