First run publications have additional costs and accounting complexities that are unique to the publishing industry.
First run publications have additional costs and accounting complexities that are unique to the publishing industry. When printing a book a significant cost is in the setup of the highly sophsticated printing machinery, so the first runs incur higher costs than subsequent runs. The accounting becomes very complex and time consuming. With Adaxa Suite, they were able to sucessfully automate the associated publishing.
Maintaining integrity with the handling of royalties is also a critical aspect of a publishing company’s business and Adaxa was able to improve and enhance this process.
Challenge:
First run publications incur all the setup and publishing costs that are not found in subsequent runs. The challenge was to automate the existing laborious manual task of associating actual costs derived from work in progress to the correct General Ledger accounts for these first run publications.
The second challenge was to accurately calculate, record and disperse royalties in a timely and efficient manner while insuring compliance throughout the whole process.
Of importance was the ability to maintain the integrity of all operating systems and procedures while transferring from the old system architecture to the new more robust and flexible Adaxa Suite ERP.
Solution:
Adaxa provided a highly configurable, feature-rich and flexible ERP system which enabled the automation of multiple cumbersome manual processes.
Result:
Royalties are now able to be accurately recorded and dispersed in a much more timely manner and are able to be easily tracked; the result saving almost two person-months of labor.
Accounting processes are streamlined and automated and accurate financial reporting is available at all stages of print runs.
Testimonial:
This publishing house is currently publishing 120 titles each year while continuing to offer over 800 additional titles from previous years.
