WebBlog-Ask-the-Expert-In a fast paced uncertain environment how do I ensure my project stays profitable?

In Film and TV today, making productions profitable can be as important as winning awards. Although future commissions and reputations depend on it, it’s never been more important to run a tight ship given the experience of the last 12 months. Skilled production and finance teams know the challenges involved in making a profit.

The good news is that there are now smart technology tools to help. Did you know you can find production management and financial reporting all in one place? This can make the difference between success and failure. Here are 3 reasons why…

Complete control
Most funders these days are constantly asking for timely Cost Reports and in an environment made more stressful by last minute changes, proving your efficiency in real-time can be a headache. It’s reassuring to know that the smart software available can be fully integrated with your finance, keeping tabs on all the financial aspects of your business in real time, to bring you peace of mind.

The new realism
We have known for some time that production managers need to work closely with finance to ensure productions have realistic Cost Reports from the start. Gone are the days when overspending and undercharging could be easily absorbed. That is why we developed OctopusPMI, a solution which brings these two worlds together to deliver this information accurately.

Tales of the unexpected
As seasoned professionals know, it is always wise to have something in reserve to prepare for the unexpected. Increased external costs are already having an impact and we know of cases where productions have been cancelled half way through. None of this is helped by rising fuel costs and wage bills which are constantly increasing to keep up with inflation. However when you use OctopusPMI, you can see your expenditure at a glance and create alerts and forecasts based on the very latest information.

When you bring together Production Cost Management and Company Financial Reporting under one unified system, all stakeholders get the complete picture.

Sounds interesting? Contact us here to find out more.