Transforming Royalty Accounting: Leveraging Automation and Google Sheets for Enhanced Efficiency
Matsuuke, Morris (2024)
2024
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2024052917990
https://urn.fi/URN:NBN:fi:amk-2024052917990
Tiivistelmä
This project-based thesis was commissioned by Company X, a Finnish company that develops cutting-edge sound processing software and hardware for the music industry. The company's rapid growth and increasing complexity of operations have led to challenges in their manual royalty reporting process, which is time-consuming, prone to errors, and negatively impacts the accounting department's ability to focus on more strategic tasks.
The objective of this thesis was to develop an automated royalty reporting system using Google Sheets and Google Apps Script to streamline the process, improve accuracy, enhance transparency, and provide a scalable solution for the company's continued growth. The project aimed to address the issues faced with the company's previous attempt to automate the process through an outsourced solution, which failed to meet their requirements and expectations.
The theoretical framework of this thesis explores concepts related to royalties, accounting automation, technology acceptance, and the impact of technology on the accounting profession. The empirical part describes the current royalty process, needs and challenges, target outcome, and the development process of the automated system through the use of OpenAI's ChatGPT-3.5, an AI language model.
The final outcome is a user-friendly, accurate, and efficient automated royalty reporting system that integrates seamlessly with Company X's existing processes and data formats. The system significantly reduces the time required for royalty calculations, eliminates manual errors, and provides a maintainable and scalable solution for the company's future needs.
The successful implementation of this project demonstrates the potential for combining human expertise with AI capabilities to solve complex business problems. The automated royalty reporting system not only addresses the immediate needs of Company X but also contributes to the company's sustainability goals by factoring in commitments regarding environmental, economical, and social sustainability.
The objective of this thesis was to develop an automated royalty reporting system using Google Sheets and Google Apps Script to streamline the process, improve accuracy, enhance transparency, and provide a scalable solution for the company's continued growth. The project aimed to address the issues faced with the company's previous attempt to automate the process through an outsourced solution, which failed to meet their requirements and expectations.
The theoretical framework of this thesis explores concepts related to royalties, accounting automation, technology acceptance, and the impact of technology on the accounting profession. The empirical part describes the current royalty process, needs and challenges, target outcome, and the development process of the automated system through the use of OpenAI's ChatGPT-3.5, an AI language model.
The final outcome is a user-friendly, accurate, and efficient automated royalty reporting system that integrates seamlessly with Company X's existing processes and data formats. The system significantly reduces the time required for royalty calculations, eliminates manual errors, and provides a maintainable and scalable solution for the company's future needs.
The successful implementation of this project demonstrates the potential for combining human expertise with AI capabilities to solve complex business problems. The automated royalty reporting system not only addresses the immediate needs of Company X but also contributes to the company's sustainability goals by factoring in commitments regarding environmental, economical, and social sustainability.