Team Beans
With 50 new products being brought to market each and every week, Team Beans was struggling to account for the multiple royalty contracts in effect. It was clear they needed to find a solution that could fit seamlessly into their Microsoft Dynamics™ GP system.
Located in Edison, New Jersey, Team Beans is the most successful sports collectibles company in America today. Over the past five years, the company has grown from a start-up organization to earning revenues exceeding $40 million.
The company carries a collection of products encompassing all of today’s major sports franchises including MLB, NFL, NASCAR, NHL, NBA and NCAA. These licenses are the company’s most important assets and as such they must maintain complete control of all of their unique contract requirements.
THE SOLUTION
Eclipse Computing had developed a comprehensive understanding of the complex royalty issues at Team Beans. The challenge was to develop a system that was flexible, but at the same time it needed to be efficient. “We were concerned with building an elegant solution that would have a virtual zero footprint on the application’s performance. Team Beams processes a high volume of transactions in a very short window, sometimes posting 1000 sales an hour at the end of the day. We wanted to be able to capture the royalty accounting transactions without slowing down the sales process,” said Joe Lerro who manages Eclipse’s US operations. The initial challenge was to define flexible rules required for the more than 25,000 active products that Team Beans sells. Once the rules were defined and entered into the system, the improvements to the process were immediate. “The first week we ran the system, it was apparent that we had made a major improvement in our business. We immediately had visibility to our Net Sales with the inclusion of royalty expense on a daily basis. This would have been impossible to achieve under the manual system,” stated CEO Michael Lewis.
The system was developed to support multiple royalty contracts per product and multiple contract owners. With sports franchises, a single product can contain contracts at multiple levels, which require royalty payments to the individual player, team and league simultaneously. In addition, a contract may be owned by multiple parties which require a payment based upon an ownership percentage. Eclipse built this flexibility into their product. Unlike stand alone systems, Eclipse Royalty & Rights Management System uses the Microsoft Dynamics GP tm core accounting modules so your information is managed centralised.
