Question: Is there a technology that can streamline production accounting and financial operations for entertainment and advertising productions?

If you want to simplify production accounting and financial operations for entertainment and advertising productions, XR is a full-featured platform designed for the industry. It includes modules for asset management, global distribution, AI-based creative intelligence and detailed payment and residuals processing to ensure timely and compliant payments to talent, crew and vendors. It also includes powerful production accounting tools to streamline financial operations and workflow.

Another good choice is Backdrop, a pre-accounting tool geared for TV and film production. It uses AI to automate expense management by issuing production cards and tracking transactions. Backdrop also offers digital petty cash envelopes and real-time budget tracking, which cuts down on manual labor and errors and gives you a better view of cash flow.

For a more enterprise-level tool, Workday is an all-in-one platform for finance, HR, planning and spend management. It includes adaptive planning, AI-based performance and decision-making, and finance process automation, making it a good fit for companies of all sizes that have to manage complex financial and operational data.

Last, Coupa is a cloud-based spend management platform that can help with operations in procurement, supply chain, finance and IT. Its AI-based automation of source-to-pay processes and global cash visibility can help improve efficiency and profit. Coupa is a flexible tool that can help a broad range of entertainment and advertising businesses.