deFacto Power Planning Streamlined a Subscription-based Streaming Service’s Linear Accounting System
Overview
This company offers a subscription streaming service with a library of TV shows, movies, and original content. As of January 2023, the company possesses over 48 million subscribers worldwide.
Challenges
Since the partners that sell this company its content must have accurate financial data for their own purposes, accuracy in invoicing is imperative, and deFacto Global was brought in to improve its subscriber calculations and programmer invoicing processes. The company’s current processes were based on outdated methods that could not handle the company’s rapid growth. The company also needed a unified analytics and reporting infrastructure that would allow for automatic calculations and ad-hoc analyses.
dF Solution Statement/Results
deFacto Power Planning revolutionized the company’s accounting processes by implementing a flexible, scalable, and centralized CLA model.
Input templates were introduced to standardize data collection processes and ensure consistency in data entry, and report templates were set to define the layout, formatting, and presentation of information, streamlining the process and ensuring uniformity. The model also automated crucial calculations such as licensing fees and other accounting and reporting figures, significantly accelerating those procedures and allowing more to be done with on-hand data.
Additionally, deFacto Power Planning provided the company with the flexibility to input data manually or extract it from their accounting cube, catering to their specific requirements. This versatility enhanced their overall efficiency and streamlined their workflow.