EquaTrax was formed in 2004 as a joint venture between two major records labels and I.T. 2.0 provider Exigen, a multi-national global business process solutions company focused on lowering the total cost of operations for customers.  The first product to be delivered by EquaTrax is the Shared Royalty Platform.  SRP is a full service record royalty accounting system which includes artist, copyright, and union calculations and statements supported by a full interface to the user’s accounting system.   A highlight of the functionality is advanced workflow management which will lead to significant improvement in productivity. The Beta version of the system was delivered to Universal Music Group in July, 2008.
 

Although the initial offering is specifically designed for the recorded music industry, the system is readily adaptable to film, television, book publishing, music publishing, or video gaming all of which depend on capturing sales and costs and applying complex contract rules and product variables in order to calculate obligations based on units sold, revenue, profits, or performances.

To support the full range of media companies, the system interfaces directly with each client company’s content management, sales, and financial systems.  This enables the SRP system to produce real time royalty calculations, statements, payments and accounting entries.   The system’s rule-based engine can readily accommodate new products or regulatory changes – such as the anticipated changes in U.S. copyright regulations. The system has already been configured to fully automate the new provisions of the American Federation of Musicians contracts.    The system also provides the ability to model "what if" calculations to enable timely business decision making with real data.