As media changes with new advancements in technology and ever-growing distribution channels, media companies need to adapt their business solutions at a near instant rate. Be it the implementation of a new media source, the sharing of data/content with fellow employees who could be based around the world or just helping to better manage paper usage to create a paper friendly working environment for printed materials, there’s no question that media and publishing companies need their business management system to match their needs.
Today (21/05/2018) marks the 122nd Roland Garros where not only will tennis players compete to pick up the coveted trophy but media giants will also slug it out to win the award for best breaking newsagent, accumulating new subscribers and maximising their resources to get the most out of their distribution chain.
Advantages of Netsuite for Media & Publishing
Financing
Media based businesses cover a lot of ground area with employees on the scene reporting back to head office, be it at Roland Garros today, in Windsor for the Royal Wedding on Saturday and then the Champions League final in Kiev next Saturday. This example alone covers just 3 countries, 3 different currencies and several different taxation rules and regulations.
NetSuite’s multilingual and multicurrency capabilities allow for the employee to attach any expenses across these 3 countries to their expenses reports, assigning it to the relevant case which in this example is a major news event and does so without the use of carrying around masses of paper for documentation such as receipts or bills.
Not only of benefit for the travelling employee but NetSuite then automates the reporting and month-end close process, adjusting to different tax regulations whilst closing off employee expense records.
Collaboration
With several different distributions channels now available for free, media businesses need to manage a wide range of social media, printed media, digital mail campaigns and their own platforms such as their websites, smartphone applications or custom software for media distribution across affiliate websites. With a lot of journalists or media personal always on the go, the biggest advantage NetSuite has to offer is being cloud-based.
Cloud-based solutions allow for easy collaboration with the ability to login to their dashboard from anywhere in the world with an internet signal and across multiple devices. The ability to do this is key for real-time updates of newsworthy events, allowing for images to be shared securely internally, salesforce automation or the management of marketing materials and tasks like updating an email template created for distribution.
Compliance
Being a hot topic as late, compliance is more crucial for businesses than ever before, especially when it comes to handling personal data. NetSuite’s operational security is to the highest of standards including SOC 1, PCI-DSS and EU-US Privacy Shield framework, working to protect the data and information you do decide to store.
NetSuite also helps it’s clients to become GDPR compliant which is very important for media-based businesses. With NetSuite’s CRM you can;
- Send double opt-in campaigns to ensure your database is happy to receive future marketing materials
- Manage user subscriptions be it paid, free or the users request to be removed from future campaigns
- Automate subscription renewals to improve retention
- Real-time reporting of user behaviour, analytics and KPI’s
- Self-service customer and subscriber centres allowing them to opt-out if desired
You can also automate key processes for user retention whilst remaining compliant with new regulations. Should a user sign up to a mailing list, you can request double opt-in or automate an SMS message for users who have shared mobile details.
Feel free to get in touch with one of our consultants if you have any questions about how NetSuite can have a positive impact on your Media and Publishing based business.
