Privateer is one part of a two part raid management system.  It works in conjunction with the web-site http://www.privateermarque.com.  

The mod collects raid data such as attendance, boss encounters, and loot drops.  In addition it has a built-in auction system to manage greed or point bidding.  

The web-site calculates point totals and manages pools of points for various guilds.  It allows guild leader to manage active raid instances, set bidding options, and upload raid data.  Guild members can quickly access their raid history, point totals, and loot drops.  

The mod works optimimally when all raid members have it installed but it does work with only the loot master running it.