What is production finance?

Production finance is the specialized financial management of creative projects in the entertainment industry, including film, TV, music, and live events. It covers budgeting, securing funding, managing cash flow, handling global payments, and ensuring compliance from pre-production to post-production.

What are the biggest challenges in production finance?

Key challenges include the project-based nature of productions, managing global payments to a diverse independent workforce across 140+ currencies, onboarding thousands of one-time vendors, tight deadlines, and navigating complex international tax and compliance regulations.

How does Eved help with production finance?

Eved, an AI-led global AP & payments platform, streamlines production finance by offering Self-Serve W9 Collection, global payment processing (EvedPay) in 140+ currencies, automated invoice processing (EvedAP), direct per diem payments, and seamless integration with existing accounting systems, specifically addressing the unique needs of the entertainment industry's global independent workforce.

Does Eved replace existing accounting systems like SAP?

No, Eved is designed to integrate seamlessly with and complement existing accounting and payroll systems, such as SAP. It acts as a powerful extension, specifically addressing the granular, project-based, and global payment needs inherent to film, TV, music, and live event productions that standard systems often struggle with.

What is production finance in the entertainment industry?

Production finance encompasses all financial activities related to planning, executing, and completing creative projects in film, television, music, and live events. It involves managing budgets, securing funding, handling international tax incentives, and processing payments to a diverse global workforce and vendors.

How does Eved streamline payments for film and TV productions?

Eved streamlines payments for film and TV productions by automating vendor onboarding, managing multi-level approval workflows, executing global payments in over 140 currencies, and integrating with major production accounting systems like Cast & Crew.

What are the unique challenges of production finance compared to traditional corporate finance?

Production finance faces unique challenges due to its project-based nature, global scope requiring multi-currency payments, high volume of temporary vendors and contractors, and stringent compliance and tax reporting requirements.

Can Eved handle global vendor payments for entertainment projects?

Yes, Eved is built for global operations, enabling payments to independent contractors and vendors in over 200 countries and 140 currencies. It streamlines cross-border transactions and ensures tax compliance for international film, TV, and live event productions.

What Eved products are most beneficial for managing production finances?

Eved offers EvedAP for invoice processing, PO management, and budget tracking; EvedPay for global payments; and EvedPay Card for virtual and physical prepaid cards for on-set expenses and per diem.

Production Finance: Streamlining Entertainment Payments with Eved