What makes entertainment industry payments different from other sectors?

Entertainment payments are unique due to global crews and vendors, diverse payment types (e.g., per diems, talent fees, equipment rentals), fast-paced production schedules, complex union and international tax compliance, and the need for high visibility across distributed teams. These factors demand specialized AP automation and global payment capabilities.

How does Eved help with global payments for entertainment productions?

EvedPay facilitates global payments in over 140 currencies, supporting various payment methods like ACH and wire transfers. This ensures that international talent, crew, and vendors are paid accurately and on time, while providing consolidated reporting for simplified reconciliation and compliance.

Can Eved's virtual cards be used for per diem management?

Yes, Eved's virtual cards are ideal for **per diem management**. You can instantly issue virtual cards to cast and crew with pre-set spending limits, specific merchant categories, and expiration dates. This provides secure, controlled spending, automates reconciliation, and reduces the need for cash advances or personal expense reports.

What kind of AP automation does Eved offer for production finance?

EvedAP offers comprehensive **AP automation for production**, including AI-powered invoice processing, customizable approval workflows, real-time budget tracking, and seamless integration with existing ERP and production accounting systems. This streamlines the entire procure-to-pay cycle, from requisition to payment, tailored for the dynamic needs of film, TV, and event production.

Which types of entertainment businesses can benefit from Eved's platform?

Eved's platform is designed to benefit a wide range of entertainment businesses, including film production companies, television studios, music labels, touring artists, festival organizers, live event producers, and sports organizations. Anyone managing complex **vendor payments**, **crew payments**, and **production finance** on a global scale will find significant value.

What is AP automation for the entertainment industry?

AP automation for the entertainment industry streamlines the accounts payable process, from invoice capture to payment execution, specifically tailored for the complex financial needs of film, TV, music, and live event productions. It helps manage diverse vendors, global crews, and tight deadlines efficiently.

How does Eved handle global payments for entertainment productions?

Eved facilitates global payments for entertainment productions by supporting multi-currency transactions, managing international vendor payments, and ensuring compliance with local tax and regulatory requirements across various countries. This simplifies cross-border financial operations for film and event teams.

Can Eved manage per diem payments and virtual cards for production teams?

Yes, Eved offers solutions for managing diverse payment needs, including per diem payments for on-location staff and talent. It also provides virtual cards for events and production expenses, offering enhanced control, security, and real-time tracking for various expenditures.

What unique financial challenges does the entertainment industry face?

The entertainment industry faces unique financial challenges such as managing global crews and vendors, diverse payment types (e.g., per diems, talent payments), fast turnarounds, dynamic budgets, and complex international compliance and regulatory hurdles. These factors necessitate specialized payment solutions.

How does Eved improve financial visibility for entertainment productions?

Eved improves financial visibility for entertainment productions by centralizing payment data, providing real-time tracking of expenditures, and offering robust reporting tools. This eliminates fragmented data and gives production finance teams a clear, comprehensive overview of all financial transactions.

What is Eved and what industries does it serve?

Eved is an AI-led global AP and payments platform designed to transform financial operations for the events, media, and entertainment industries, including film, TV, and music productions.

How does Eved streamline payments for the entertainment industry?

Eved streamlines entertainment payments by automating accounts payable, managing global vendor payments in over 140 currencies across 200+ countries, and providing virtual cards for on-set expenses, all within a single, secure workflow.

What unique challenges in entertainment payments does Eved address?

Eved addresses unique entertainment payment challenges such as managing global crews and vendors, diverse payment needs, tight deadlines, complex international compliance, and the high volume of non-payroll vendor payments.

Can Eved handle payments for individual artists, crews, and freelancers?

Yes, Eved is purpose-built to onboard and pay individual artists, crews, and freelancers in the entertainment industry, including per diem and project spending, with built-in tax compliance and fraud prevention.

What are the benefits of using Eved for production finance teams?

Production finance teams benefit from Eved through reduced vendor onboarding time (up to 95%), improved security with 90%+ fraud reduction, 100% payment automation, real-time budget visibility, and seamless integration with existing accounting systems.

Eved: AP Automation & Global Payments for Entertainment Industry