Manchester, UK-based finance company Voly has announced the smooth launch of new integrated financial management software and payment platform for the music industry.
Voly – who has already enjoyed success in the super yachting industry with its foreign exchange services and accounting solutions – says he has worked with a number of companies and music industry executives in recent months to develop his platform. form.
The company was founded in 2016 by former professional tennis player Ian Flanagan, a regular on the ATP Tour who won the junior Olympic gold medal for Great Britain.
To establish his specialized platform for the music industry, Voly appointed Neil Rodford, founder and former CEO of management company YMU, to its board of directors with the mission of overseeing the entertainment strategy of the business.
Rodford became CEO of YMU in 2001 after his previous role as Managing Director of Fulham Football Club, leading a management buyout of the company in 2009.
During his tenure, he completed more than 40 acquisition and sale processes, and under his leadership, YMU continued to increase its enterprise value by over 500% before selling in 2018 to approximately 130 million pounds sterling ($ 175 million).
Voly specifies that its platform aims to “simplify and streamline budgeting, accounting processes and reporting for artists, managers and business leaders.”
Officially launched later this year, Voly was designed to function as an online, centralized financial center for all artist income and expense streams, with an emphasis on touring.
Voly will operate on a monthly subscription model and is already being tested by several major UK music companies. The company is also working with SJM to improve the product from a live music promoter’s perspective.
Additionally, Chris Vaughan, a live music industry executive who has overseen world tours for Beyonce, Take That, and ELO, among others, is currently using the Voly platform on a number of tours this fall and is working. alongside the company’s development team.
Voly is currently calling for applications to participate in a free trial for the remainder of 2021.
“I have worked with the Voly team to help them develop a platform that will bring real added value to those who work in live music and I have been impressed with their collaboration and their willingness to listen.”
Chris Vaughan said: âI have worked with the Voly team to help them develop a platform that will bring real added value to those who work in live music and I have been impressed with their collaboration and willingness. to listen.
âLaunching an integrated system that brings together all the key elements of reporting, reconciliation and accounting is an ambitious project, but they have created something that will help increase transparency, improve accuracy and save time, which must be applauded. “
âWe are already working with some of the UK’s top music executives and companies and are confident that we can provide an easy-to-use platform to alleviate some of the challenges the industry is currently facing. “
Ian Flanagan, Voly
Ian Flanagan, Founder and CEO of Voly added: âAs we continue to consult the music industry and test our platform, we are delighted that Voly is now active and used in real touring situations.
âWe have been successful in creating solutions for super yachts and believe we can make a real and tangible difference for the music industry.
âWe are already working with some of the UK’s top music executives and companies and are confident that we can provide an easy-to-use platform to alleviate some of the challenges the industry is currently facing.
âWith Neil Rodford joining our Board of Directors to oversee our entertainment division and introduce us to his stellar network of industry professionals, we have built an easy-to-use and intuitive platform while providing budgeting, accurate and efficient accounting, treasury, treasury, FX and reporting.
âI was blown away by what Ian and the Voly team presented to me the first time I saw him. What they have achieved in the super yacht business in such a short period of time is extraordinary. “
Neil Rodford said: âI was blown away by what Ian and the Voly team presented to me when I first saw him. What they have achieved in the super yacht business in such a short period of time is extraordinary.
âDeveloping the platform for use in the music and entertainment industries at large makes perfect sense and as someone who has always sought to increase transparency and speed of reporting for artists, I can honestly say that Voly will be a real game-changer.
Rodford added, âWe have and will continue to consult widely and listen to what the music industry wants and needs. I am convinced that the platform will save artists money by allowing them and their representatives to make better choices faster.
âIt will also dramatically increase the speed of financial reporting. The Voly team has provided a platform that offers stylish, easy-to-use and tailor-made solutions for anyone working in the music space.Music trade around the world