mySAP Tackles Intellectual Property Management
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To better stay on top of a company's intellectual property management, SAP Wednesday announced the launched of its expanded, more comprehensive intellectual property management tool for its SAP for Media software suite.
Previously, it was a module in the software company's new mySAP Customer Relationship Management suite, before getting the makeover and enhancements.
According to SAP officials, the new module delivers an end-to-end solution "to better manage contracts and contract compliance, settle and report incoming and outgoing royalties, and track IP right inventories and performance efficiently and profitably."
But mainly, it's all about the money. Namely, the money that can be derived from the incoming royalties, and as such, SAP officials are looking to give its customers another revenue stream.
"In these trying economic times it becomes essential for companies to take advantage of any source of revenue they have," said Barry Wilderman, META Group senior vice president and director of technology research services. "Intellectual assets are probably the fastest way that companies in the entertainment and media industry can increase shareholder value."
For its new package, SAP developers went to one of its older customers for ideas. Building on the intellectual property management module found in its CRM product, SAP developed a product that lets media companies track their artists' songs, movies or other type of media property throughout the property's life cycle.
Given the ascendance of the Internet, media companies can offer up and keep tabs on any files they disseminate over the Internet or over the phone.
"With intellectual property management, SAP is adding key functionality to the SAP for Media portfolio that simplifies the spiraling technical complexity of managing intellectual property in a time of increasing media and delivery channels," said Manfred Gaertner, SAP vice president of industry business unit media. "(Our software) allows companies to manage their entire (intellectual property management) processes efficiently, consistently, and profitably, with powerful analytics components to better forecast financial return and guide the development of new products."