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Most Producers will agree that the Film & TV production world has been tough over the last 6 months. With production budgets tightening, keeping cash flow under control is crucial for success.

Gone are the days when the industry was flush with cash, so the current economic climate demands a meticulous approach to budgeting and expenditure as broadcasters demand more accountability. Profit margins are tight and in some cases, pre-strike budgets remain unchanged despite rising inflation. All this makes it imperative for production teams to account for every penny spent. This shift requires a strategic adaptation to ensure that productions not only survive but thrive in this new era.

Even the most responsible production and finance teams can get into difficulties and there are countless examples of scenarios in which the best planned budgets suddenly don’t add up. It might be that part of the production budget is being financed by tax relief which won’t be available until after the programme is delivered. Or it might be that operating overseas in a different currency requires careful timing to avoid exposure to adverse exchange rates. Identifying these issues in a timely manner could save a lot of money and stress!

So how can we keep an eagle eye on costs? Spreadsheets are all very well, but are prone to errors and take hours to examine. From your pre-production cashflow forecast to getting an accurate snap shot of the cash position at each stage, you could be drowning in detail and struggling with a cumbersome tool.

What if you could forecast your outgoings accurately and keep your customers updated and onside in real time as it happens?

What if you could work with the accounts team to identify cash shortfalls before they happen and plan how the shortfall will be covered?

Freedom and Control

Production managers walk a tightrope between the need for creative Production managers walk a tightrope between the need for creative freedom and the imperative of financial control. The challenge is to maintain the artistic integrity of a production while ensuring it remains financially sustainable. The good news is that there are tools and solutions to help you.

OctopusPMI is a specialist Production Cost Management and Accounting package designed specifically for the Film & TV industry. It is the only affordable product on the market which has specifically designed functions so that everyone can see how budget and forecasts are playing out against actual expenditure in real time. It means everyone has the full picture all the time.

Create, manage, and monitor against budgets effortlessly. Benefit from user-friendly interfaces and templates which allow you to collaborate seamlessly across productions and companies. When no expense goes unnoticed, you minimise the risk of missed overspending.

When it comes to unforeseen challenges? OctopusPMI provides immediate warnings on overspends in real-time, so production managers can take informed decisions on the fly.

OctopusPMI is a powerful ally in taming your cash flow, monitoring your profitability as well as enabling submission of accounts to the relevant authorities and provides reporting to the most senior levels.

This game-changing proven software backed by SAP Business One ensures that you are always aware of the financial health of your production and business.