What is a media payments platform and why is it essential for production companies?

A media payments platform is a specialized financial technology solution designed to manage the unique payment needs of the film, TV, and digital media industries. It's essential because it automates complex processes like global payments, per diem management, and vendor payments, ensuring compliance, reducing fraud, and providing real-time financial control, which traditional systems cannot offer for dynamic production environments.

How does Eved handle global payments for international film and TV productions?

Eved's platform supports payments in over 100 currencies to more than 180 countries. It simplifies international transactions by managing currency conversions, adhering to local tax regulations, and providing transparent exchange rates, eliminating the complexities typically associated with paying international crew, talent, and vendors.

Can Eved help with managing per diem and petty cash for on-location shoots?

Yes, Eved offers robust features for per diem management. Our platform automates per diem calculations and disbursements, ensuring accurate and timely payments to cast and crew. For petty cash and other on-location expenses, our virtual cards provide a secure and controlled way to manage funds with pre-set limits and instant transaction capture.

How do virtual cards benefit media production teams?

Virtual cards offer significant benefits by providing instant, secure, and controlled spending capabilities. Production managers can issue virtual cards with specific spending limits and merchant restrictions for various expenses like catering, equipment rentals, or travel. This enhances budget control, reduces the risk of fraud, and provides real-time visibility into spending.

Is Eved's platform compatible with existing production accounting software?

Yes, Eved is designed for seamless integration with leading production accounting software used in the industry, such as Mediaocean (formerly Entertainment Partners) and GreenSlate. This ensures that all payment data flows effortlessly into your general ledger, streamlining reconciliation and maintaining a single source of truth for your financial records.

How do studios manage vendor payments across multiple film and TV productions?

Studios leverage EvedAP to centralize vendor management, streamline invoice processing, and automate payments across all their productions. This provides a unified system for financial control and visibility, regardless of the number of active projects.

What are the key challenges for studios in managing vendor payments for film and TV productions?

Studios often face challenges with global payments, managing diverse vendor types, ensuring compliance, preventing fraud, and maintaining real-time visibility into spend across multiple, often concurrent, productions. Eved addresses these by offering an AI-led global AP & payments platform tailored for the entertainment industry.

How does Eved help studios maintain financial control and prevent fraud across productions?

Eved offers robust features like customizable approval workflows, real-time budget tracking, and advanced fraud prevention tools including TIN checks and bank detail verification. This ensures that all payments are authorized, within budget, and secure, safeguarding production finances.

Media Payments Platform & AP Automation for Film, TV, Entertainment