UFO ticketing platform Settlement Process

A settlement platform is a common ground used for maintaining and adjusting the commercial issues amongst all the stakeholders of the entertainment industry.

When all stakeholders (Producers, Exhibitors, Distributors and Government agencies) come under agreement for system installation, the complete process integrates and revolves around different steps from account creation to report generation. First the initial deposit is received from concerning parties, then a onetime registration needs to be done finally account creation happens at the exchange central system after which they are assigned a user log in and password for accessing real time data anytime anywhere.

All the transactions then start getting registered online from Box Office Console (!Ticket solution) and get uploaded to UFO ticketing platform central server for analysis, financial distribution and report generation.

The whole process of agreement, registration and settlement is convenient and easy to use. A step wise process explained below highlights how a registered exhibitor and distributor come under the pact (Agreement) and begin the transaction.

1) ) Exhibitor and Distributor agree on a Pact (Agreement). The Distributor then fills a Pact Form and attaches a copy of the Pact and faxes it to the Exchange.

2) The Pact information is then entered into the Exchange central system. This includes the Movie, the Period of the Pact (One week for each movie), Revenue Terms, Taxes and number of Shows etc.

3) Once the Pact is entered in the system, Distributor using a login and password can view the list of Pacts assigned against his name. Distributor proof reads the Pact entered and approves or rejects it in case of any discrepancy.

4) Once the Pact is approved by the distributor online, the Pact information automatically gets downloaded on !Ticketing (Box Office Ticketing system), located at the exhibitors end. The Exhibitor now reviews the Pact and approves (or rejects) it.

5) Once the Pact is approved by Exhibitor, the Show Timing, Ticket Rates and Screen is configured in the !Ticketing(Box Office System) by the Exhibitor

6) The box office sale of tickets happen

7) At completion of each show, the sale data such as Screen Name, Ticket Count, Class Name (Balcony/Stall etc), Ticket Cost, Total Sale Amount etc gets automatically uploaded on the central system.

8) On completion of show sales upload, the Pact is marked as "closed".

9)Now the Pact accounting happens where in the sale amount gets distributed amongst all Stakeholders (i.e. Exhibitor, Distributor, State Government etc)

10)Both Distributor and Exhibitor has an online "account" to which the amount gets credited. The stakeholder can withdraw or remit amount to this account.

11) Since the actual ticket sale happens at the Exhibitor end and the sale cash remains at Exhibitor end, the Exhibitor has to keep a minimum balance in his account. When the Pact accounting happens, the Exhibitor account is debited and the distributor account is credited

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UFO ticketing platform powered by IMPACT
  • Guaranteed Automatic Settlement on closure of sales
  • Credit Management Integrated with Ticket Sales
  • Dashboards, reports, alerts and analytics
    • Role based Dashboards
    • Movie Based Reports
    • Meta Data Based Reports
  • Comprehensive Real Time Accounting

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Tel - +91 22 4030 5060 | Fax - +91 22 4030 5110 | Email - utp@ufomoviez.com | Web - www.ufomoviez.com
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