Calculation of Profit and Loss requires significant commercial understanding and organisational modelling. Reconciling this data in real-time for billing purposes is a considerable challenge. Financial Controllers and CFOs work closely with Account Managers to constantly understand, interpret and report upon the financial picture. Reporting is largely historical, creating a time period where inaccuracy can occur.
Each media company employs their own unique financial formulas to determine profitability for a reconciled period and carry some consistency in their revenue sources, terminology and common expense types. Although a real-time financial understanding can be difficult, as commercial agreements are complicated and determined due to variable calculations, it is vital to the planning, understanding and running of a successful business. Nonetheless, the investment in both technical and time required to implement systems to solve these problems have largely been lacking.
The Gravitie platform is the solution!
Gravitie work and partner with key data suppliers in the Media space. Their Booking, Buying, HR systems when combined with financial lists, Client and Overheads create a complete picture of the organisation that can be modelled.