Support Business Decisions with Visibility into IP Financials and Streamline Invoice Management
Managing the financial aspects of activities relating to intellectual property (IP) assets can be difficult and challenging especially if you have limited visibility into spending or internal teams using different systems.
There’s another, more efficient way. AQX® has a full suite of IP financial management tools that provides all the company’s IP financial data in one place with full visibility into related dollars flowing in and out of the business as well as invoice management, cost tracking, and more. With tightening IP budgets becoming a reality for most companies, AQX provides the financial insights and forecasting needed to make informed portfolio decisions and help justify budgets.
Financial Intelligence to Inform Strategic Decisions
With AQX, you can automatically link financial costs to IP matters and related Products, and explore details and trends easily. With a complete view into your portfolio and current spending, you will be armed with the data you need to make more informed decisions regarding individual matters or entire IP portfolio selections based on countries, industries, and technologies.
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High level visual reporting with drill down capabilities: To report on IP financials, you can use our best-practice out-of-the-box reports or configure your own based on region, managing counsel, and more
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Portfolio management: To gain perspective and spot trends, AQX dashboards allow you to view historical, current, and forecasted spend alongside your current portfolio.
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Patent intelligence: AQX integrates AcclaimIP™ patent analytics software so you can easily assess patent value, check your company’s competitive position in specific patent areas, and much more to inform financial decisions
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Spending by phase: AQX provides easy ways to review your company's spending trends in innovation, prosecution, and annuities to determine where the bulk of money is being spent or spot any anomalies.
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Vendor valuation: AQX empowers you to review costs from individual vendors on each matter or in total, including outside counsel, translation services, and more. You can easily compare with other analytics to establish their quality of performance
Streamline Invoice Management
Within AQX, your team has the flexibility to manage the whole invoice lifecycle in one system along with the option to integrate with your company's current financial management software to stay in sync with other teams.
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Invoice input: Vendors can directly upload their invoices to AQX. AQX will automatically alert you to common invoice input mistakes such as incorrect charge codes, incorrect matters, and duplicates.
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Auto approval workflows: You will be able to save hours of time by setting overage thresholds so that invoices with expected costs will be approved automatically. Invoices beyond the expected cost will automatically be sent for review/approval.
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Advanced approval workflows: You can optionally require multiple approvers based on invoice amount. After the first approval, it will automatically be forwarded to the next approver in the workflow.
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Payment tracking: All previous payments are easily accessible for quick reference to respond to questions and avoid back and forth with accounts payable (AP).
Create Forecasts for Short and Long Term Planning
Advocating for an increased IP budget requires using a good forecasting model. Anaqua provides a variety of tools to forecast out months or even decades in advance.
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Upcoming Cost Estimation: Using AQX, after performing a task you can automatically generate precise financial estimates using Cost Tracking and Accruals.
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Anaqua’s Global IP Estimator - Portfolio™ software enables you to take the guesswork out of predicting patent and trademark portfolio costs and saves hours of time in manual research. To get the forecasts you need, export an entire portfolio or a family of assets to run against an extensive the Global IP Estimator database of associate and official fees, which is updated monthly by our team of experts. You can also opt to incorporate your own vendors' fees as needed.
Create and Manage Budgets with Full Lifecycle Data
Within AQX, you can create and manage department and technology budgets in a familiar spreadsheet fashion. Because all the data you need is fully accessible and can be viewed/reported on from many perspectives, you have powerful access to past spending as well as present vs. actual spending, and can easily anticipate future costs. View historical invoices and budgets to identify trends and inform planning and easily compare your current budget to actual spending.
