Moving from Paper Books to Digital Payments

Children’s book publisher Holiday House has been in business for decades and was comfortable with its back-office processes. However, the onset of the COVID-19 pandemic expedited the company’s desire to modernize a critical part of its paper-based cash management processes.

Specifically, Holiday House wanted to digitize and automate a critical part of its payments process—royalties. With the help of Chase Cashflow360^SM, Holiday House was able to swiftly and securely send royalty payments digitally in a few days.

“From start to finish, Chase has helped us maintain the trust and respect of the authors and illustrators of some amazing children’s books in an incredibly difficult time,” said Adrienne Vaughan, a senior vice president at Trustbridge Global Media, Holiday House’s parent company.

“When we reached out to Holiday House on March 25, we originally suggested getting things set up for their next billing cycle in June,” said Chase commercial banker Mark Tasko. “But the publishing company wanted to switch its royalty payments that same week. So we kicked things into high gear.”

To make the process as easy as possible, members of the Chase team quickly arranged calls with Holiday House, including a demo. They also worked with the publisher’s team to prepare the files necessary to make a smooth transition to Cashflow360.

The preparation paid off. Within a week, Holiday House was able to quickly and securely² send royalty payments to authors and illustrators without paper checks or office visits.

“What felt like the impossible just a short time ago has been achieved,” Vaughan said.

What’s Next for Holiday House and Cashflow360

Holiday House is currently using Cashflow360 just for its royalty payments, but hopes to integrate the solution into its day-to-day payments process soon. From there, the publishing house can implement other features, such as virtual card payments, to digitally connect with their clients and vendors.