Thanks For Bettering COSBOTS
| Monday December 17, 2018 12:14
The success of our company has since its formative stages been built on the efforts of our members, our staff and all other key stakeholders – so thank you all.
From the company’s humble beginnings, where our members were virtually just a handful, the membership have grown to a phenomenal number of (1600) extremely talented men and women, boys and girls. The Board, management and staff have also grown and are now a strong group of knowledgeable and highly experienced individuals drawn from a variety of disciplines and backgrounds, all of who want to contribute to the future success of our Company. 2018 has been a stellar year for COSBOTS where we achieved many accomplishments together including:
Collaborated with key stakeholders such as Government Agencies
Developed working partnerships with departments such as Botswana Police Service, Botswana Defence Force, Ministry of Youth empowerment Sport and Culture Development, Directorate of Corruption and Economic Crime, Ministry of Investment Trade and Industry, Ministry of Local Government and Rural Development and others like Companies & Intellectual Property Authority.
Public education workshops
Conducted a series of workshops, which were comprised of a focused approach to educating and supporting both current and potential members in achieving the optimum benefits of belonging to our organisation in a practical, logical way.
Refreshed our Website
Constructed a new cutting edge website and smartphone service. By logging in one can now see events that we have hosted in picture and calendar of events of those that we intend hosting in the future. Other important information about the company is also on the website. It is also now possible to apply for licensing and to register and notify works online, as these features are available on the COSBOTS website.
Strategy review
Participated in a strategy review session to set goals and targets by updating the scorecard for the final year of the organisations corporate strategy.
Distribution No7
After a long wait this distribution took place in January 2018. To mark this milestone the customary distribution workshop was held at Thapong to refresh members on how distributable income is computed.
Launched our Revised Tariffs
To ensure that all the entities that use music in their commercial establishments are able to license and easily pay for the use of music COSBOTS revised its tariffs downwards. These are also available on the website for ease of access to our users.
Annual General Meeting
The Company held a very informative and highly interactive meeting at which this year’s positive results were presented. Members were informed about the improved financial performance of the company, which the company leadership expects to achieve again in the ensuing financial period. For those that were not able to attend our gathering you can view/download presentations and photos from our website.
Systems and processes
Cash management. We have commenced with developing a robust surplus cash management strategy that will ensure that members obtain the most optimal benefit from surplus funds. The strategy will be aimed at ensuring that the organisation invest monies received pending distribution in safe, interest-bearing instruments administered by reputable, approved institutions. Performance monitoring In addition to developing a cash management strategy we monitor and minimise costs through the implementation of sound financial management practices. This includes the proper use of budgeting processes linked to the achievement of goals
International Federation of Reproduction Rights Organisations (IFFRO) membership
COSBOTS successfully applied for and has been admitted as a provisional member of the International Federation of Reproduction Rights Organisations. This is in pursuance of further entrenching itself in readiness of managing reproduction rights.
Licensing Drive
The Music licensing team embarked on a countrywide sales drive which initiative included visits to areas such as Serowe, Palapye, Mahalapye, Maun and Kasane. The objective of this renewed sales initiative is to tap into virgin market, outside the capital, that has so far been untouched. An increase in the number of licensed users will go a long way in improving the commercial performance of the company. The plan is to continue to reach out to our users across other parts of the country to bring them on board as our customers.
Finally … we are aware that following the revision of our tariffs this will have a possible negative impact on our income from royalties.
However, we acknowledge that many Users are still facing challenging times and we are pleased to announce that, through activities such as the licensing sales drive, we will continue to broaden our customer base by licensing more users that are in our pipeline but have not traditionally been COSBOTS customers in an effort to increase our revenue generation capacity and ensure that members obtain the most optimal benefit from our administration of their rights.
Together with the COSBOTS team – The chairperson Mr Tomeletso Sereetsi and the rest of the Board and senior management team, we offer our best wishes to you and your families. We look forward to a successful 2019.