Whether managing a retail business or selling advertising, automated solutions address the customer’s need for service that’s fast as well as efficient. The scarcity of time can often lead to a lack of communication and deals can break down as a result. In contrast, electronic proposals save time and increase accuracy, helping the buyer, their client and you.
The session on the benefits of the Electronic Media Credit Application for advertisers, ad agencies and media providers is scheduled for Thursday, Oct. 10, from 2-3 p.m. ET.
There has been an insidious move by major brands to delay payment for advertising services rendered. In the past few years we’ve seen DSO (days sales outstanding) numbers creep up, particularly on the national accounts side. Invoices may say “net 30,” but payments are coming in at 45 or even 60 days. Since payment delayed is lifeblood denied, here are some best practices you can employ to manage your DSO.
Developed by MFM’s subsidiary BCCA, the media industry’s credit association, EMCAPP reduces the time and money spent by all three of the constituencies of the credit application process.
Electronic data interchange systems have streamlined advertising transactions, saving buyers and sellers money. But they are not hassle free. E-files can become lost or corrupt. In addition, legal and accounting personnel need to work with their IT department on such matters as determining which files to store, how long they need to be kept, who has access to them (password protection), how often the database is reviewed and what files can be deleted.