September 16, 2021
Improve your licensing business with these five features of brand licensing software.
If you’re considering adopting brand licensing software, you may already have an idea of the benefits automation and AI-powered insights can provide. But did you know there are even more features a licensing application can provide that will improve even more aspects of your business?
Here are the best five features of brand licensing software that will lead to better brand performance and increased licensing revenue.
Learn more by booking a demo with Brainbase, or read on below.
At-A-Glance Brand Performance Dashboards
When managing global licensing operations, there’s sometimes an overwhelming amount of information to keep track of. Because of this, it isn’t always easy to get a bird’s eye view of your entire brand and revenue performance all at once.
That’s where a great brand performance dashboard comes in. Our platform, Brainbase, pulls licensing data from across your entire business to visualize and analyze your performance at-a-glance. Your licensing team will be able to make faster, smarter decisions to positively impact your licensing strategy. Most importantly, you’ll see business insights in real-time, rather than after the fact.
And, you can even custom-build dashboards for tailor-made data displays. Simply choose from Brainbase’s pre-made widgets, or create your own widget dashboard.
Easy Deal Flow Tracking
Licensing relationships need hands-on nurturing from your licensing team. That’s where contract lifecycle management comes in. A dropped deal can hurt not only your licensing revenue but also your relationships for future deals. Contract management software improves communication between everyone, providing transparency and an organized process, ensuring the deal is signed every time.
Use Brainbase’s deal flow feature has customizable workflows for deal tracking, contract templates, and easy-to-enforce manufacturer requirements. It’s designed to accommodate global licensing operations for worldwide brands and start-ups alike.
Spend less time and effort keeping your deal pipelines straight and renew focus on the partnerships within your brand collaborations. Your partners, team, and bottom line will thank you.
Collaborative Product Approvals
Product approvals require careful collaboration between multiple parties: licensors, licensees, designers, manufacturers, and licensing agents. Brand licensing software makes this teamwork even easier. You’ll have a centralized place to collect and share design feedback during every step of the product approvals process. Ultimately, this can help you bring products to market faster.
With Brainbase, once a design is submitted, every user with appropriate permissions can comment directly on the digital asset, track the approval workflow, and share it (via link sharing) with other relevant team members to reach the finish line together. You’ll never accidentally misplace a file or comment on an outdated design, and product feedback won’t get lost in the shuffle.
The ease of Brainbase’s collaboration tools give IP owners more control over their brand integrity. Happy licensors and licensees create more opportunities for brand merchandise, product licensing, and ultimately, more licensing revenue for everyone.
Secure Digital Asset Sharing
Whether you’re sharing your brand’s logo, designs for licensing products, or even NFT artwork, best-in-class digital security is a necessity.
Brainbase has built-in digital file storage, so you can store, share, and attach digital assets to projects all within the Brainbase licensing software app. Furthermore, you can actually control which individual users have access to which digital files...and for how long! Set permissions to access your brand logo to expire when the contract does, ensuring your brand assets always remain within your control.
Automated Reporting for Royalty Income
No longer do you have to be a spreadsheet wiz to analyze and calculate royalty rates, sales reports, and royalty reporting income; Another excellent feature of quality brand licensing software is automated royalty and sales reports. This will not only make your job easier and save you time, but you’ll never deal with any reporting errors again.
With Brainbase, not only can you check the accuracy of your royalty income or royalty payments, but you can also monitor progress in real-time. Use the royalty calculator when drawing up contracts for easy calculations and make sales reports with the click of a button.
Using the most effective features brand licensing software has to offer will make a world of difference to your licensing business.
Ready to learn more about Brainbase? Schedule a free software demo with a Brainbase team member today, and learn about how our tools can help you increase revenue, collaborate and communicate better, bring products to market faster, and improve your global licensing operations.