hiblocks tech
ProduckFi: The Only Budget Management Platform You’ll Need
ProduckFi is an one-stop solution platform tailored for content production budget management. The platform supports transparent and effortless fund management for production projects and provides services such as accounting, communication, and reporting system between producers and investors.
People globally enjoy movies from movie theaters to personal mobile devices. Remember the closing credit list of names you see when waiting for Marvel’s post-credit scenes? The long list comprises companies, actors, and staff who participated, from the investment to the movie’s production.
“Between 2000 and 2018, the average film released in North American cinemas employed 276 crew members.”
With hundreds of crews on and off-site working on a movie production that costs hundreds of millions of dollars, budget management is definitely not a walk in the park.
Production projects usually manage budgets by sharing countless documents through multiple channels like Google Docs, Social Messenger apps, Excel, etc. The records are then bounced back and forth for report, approval, and accounting purposes. The complexity heightens when accountants have to collect and process receipts in various forms (handwritten, screen capture, others.). The process consumes too much time and goes through excessive layers, thus increasing security and human error risks, resulting in extra financial costs.
With ProduckFi, you can maximize the efficiency of production costs and budget management. Every production stage, from budget planning, review, approval, and execution to communication between producers and investors, can be done in one platform, away from the complicated system.
What Sets ProduckFi Apart
One-Stop Service
An integrated solution to production finance.
Producers and investors can now manage finances using just one system, ProduckFi. Every step of budgeting and reviewing to final approval is seamlessly integrated into one. Therefore, producers and investors do not need to exchange endless amount of emails and documents involving the budget, funding plan, funding request, cost reports, and others.
With the automatic cross-check and management function, the production can reduce the risk of human errors while keeping the cost of accounting management to minimum.
Increased Security
Implementing software automatic verification functions and permission setting to increase security.
The usual budget management system is accessible by anyone and goes through many hands. Therefore, human errors like an accountant working on the budget without special verification could occur easily.
In ProduckFi, only managers with authorization can access the document. Additionally, the security to each document can be partially protected, which means the manager can choose to protect certain part of the document.
Transparent Budget Management
Transparent and integrated accounting system
All crew, including field staff, production companies, and financiers, can access the budget book. Field staff can upload receipts and share the information with the other team.
The automatic cross-check function prevents the execution of unapproved expenses, making it difficult for anyone with access to the documents including the accountants, to manipulate and change records manually. Hence, human errors are more less likely to happen.
ProduckFi unifies all communication through one work dashboard. Removing the communication barrier between the crews and other parties involved in the project helps to maximize efficiency and save time because they can access the app anywhere and anytime.
hiblocks runs the social media platform HABL, which aims to provide high-quality content. They have signed business agreements with various content-related organizations, including Barunson and Korea Manhwa Contents Agency, and participated in the 2022 Busan International Film Festival. hiblocks’ vision is to connect people through technology, and the best way to connect people is through content. hiblocks plans to expand the market through continuous investment and development in the content industry, starting with ProduckFi.
