Licensing Management

We pride ourselves on knowing the intricacies of your licensing agreements so that they are administered fully and without error or omission. As your agents, we will follow up on all commitments due from you to your licensees or from them to you. Whether these be approvals, sales forecasts, royalty reporting and payments, or any other obligation, we will serve as your extended team to make sure they are met on time, every time.

A specific obligation of any licensing agreement is the reporting of sales and royalties. Typically, these reports are due on a quarterly basis, but the timing can vary. At Accu-Track we will ensure your licensees’ sales reports are delivered on time and with all the information required.

Critical to the success of your licensing program is the accurate and timely delivery of royalty payments. We actively engage with your licensees in advance of the payment due date to ensure their royalty reports are processed correctly and that payment is made when due.  If a payment is anticipated to be late, we will alert you as to why. We then work with the licensee to ensure any interest or penalties due are included with the royalty payment. Perhaps of greater importance, we will work with your licensee to ensure that late payments do not become habitual.

The accurate reporting and payment of royalties due are critical to the success of any licensing arrangement. For this reason, we actively engage in royalty reconciliation on a continuous basis to ensure all payments due are calculated properly and according to the agreed upon criteria.

When an error is found, we will work with the licensee to reconcile any outstanding payment. If there is a resulting interest charge or penalty due, we will work with the licensee to ensure that it is also paid.

We recommend that you routinely conduct audits with your licensees, as a matter of good business practice. This ensures the licensing program runs effectively. While licensing audits are not part of our service offering, we work closely with several auditors and we are happy to facilitate an introduction to them.

Regardless of which organization conducts your audits, we will work with them and the respective licensees to provide available information and to ensure any resulting debits or credits are accounted for and acted upon.

At Accu-Track Financial Solutions, we know that the effectiveness of your licensing program and overall business is contingent upon a good understanding of your data. As a matter of practice, we will conduct ongoing data analysis of your program to glean any insights.