Finance departments who rely on enterprise level data management systems to quickly analyze, report and react to current conditions, may not be getting a complete view of the financial health of their organization. Many times these business systems only monitor their general ledger and accounting tools, but leave out key information about what is happening in other parts of their back office. For Finance departments to see a true picture of revenue and costs analysis, they would need to tap into the entire network of databases across their media factories, harvest relevant data and organize that data into workable figures, reports and projections.
As media companies handle more and more content, it is paramount to have the ability to monitor their value in many different incarnations. Amortization reports and managing the right to use certain content formats play a key role in determining operational costs and ROI. By implementing a workflow engine to connect back office systems with front office applications, the Finance department can create custom reports and dashboards that provide a quick overview of organizational assets and business processes. A world class workflow engine follows business rules and escalation procedures that automate repetitive and tedious tasks, like weekly analyses, cascading expense report approvals based on amounts and limits, or a live inventory status and value report.
Implementing an end-to-end business workflow does not have to cost millions of dollars or take years to complete. At StorerTV, our workflow experts work with media companies to define more efficient processes and identify business rules and escalation procedures. We integrate existing hardware and software systems to create a "media factory" and then automate the entire workflow with the CentriX workflow engine. CentriX securely allows the Finance department, management and executives to monitor each business process, create reports and effectively analyze the financial health of their business.