marketing agency audits

Posted on September 22, 2016 by Janis Prescott

The 105th thing on your ‘to do’ list may be the most important…

So imagine the scenario: you’ve got a set marketing budget that seems to be squeezed year-on-year; new opportunities arise that need to be tested; old, well-trodden routes to market need to be sustained; constant evaluations need to be done to ensure you’re nimble and maximizing the opportunities; and your parent company has just issued the Read More

Posted on June 27, 2016 by Janis Prescott

The ANA media transparency report – a marketer’s perspective

Janis Prescott spent 20 years in a wide variety of marketing roles in a blue chip company before joining Financial Progression earlier this year to oversee its marketing activities. Here she offers her perspective on K2 Intelligence’s report into US media transparency for the ANA.

Posted on February 3, 2016 by Adrian

Supplier rebates – how confident are you that your agency is declaring them?

Most brand/agency contracts state that an agency needs to hand over to their client any rebates received from third parties used on their account, whether specific or on a ‘fair share’ basis (e.g. annual volume bonuses). The question is how do you know that you are getting all your rebates back? Our experience tells us Read More

Posted on August 25, 2015 by Adrian

There’s more to this contract compliance audit lark than just money…

When done in the right way, contract compliance audits of marketing services agencies deliver far more value to both client and agency than simply identifying accounting errors. That was the message delivered by Philipp Schuster of adidas Group at the ProcureCon Marketing Conference held in London in June.

Posted on June 23, 2014 by Adrian

How different are financial practices in agencies around the world?

While accountancy may not qualify as being the oldest profession, it can date its history back to before the Roman times and the ancient civilisation of Babylon. ‘Modern accounting’, i.e. double entry book-keeping, really started in Venice in 1494 when Luca Pacioli published his “Summa de Arithmetica, Geometria, Proportioni et Proportionalita” which contained 27 pages Read More

Posted on April 25, 2014 by Adrian

4 steps to successfully manage your agency finances

More and more of our clients are recognising the benefits of a structured approach towards auditing their agencies. Here we look at the four key behaviours of those brands. I was recently chewing the cud with an FD who had previously worked for 20 years within one of the large agency groups. As the conversation Read More

Posted on January 13, 2014 by Adrian

‘If one of our agencies is overcharging us, could they all be doing it?’

We are often asked ‘is agency A better than agency B when it comes to overcharging?’. The surprising answer: ‘how your brand team interacts with the agency has far more of a bearing…’ A good few years ago now, I was setting up a Finance function to support the Procurement team at a major FMCG. Read More

Posted on December 23, 2013 by Adrian

Is the top agency talent working on your business? Or on someone else’s?

When you change the agency’s fee structure, how do you know you’re still getting the same quality of staff on your account? In conversation with the Marketing Procurement Manager at one of our long-standing clients, it became apparent that the Head of Media had recently left the business. This meant that, for the first time, Read More

Posted on December 16, 2013 by Adrian

Agencies seek fame for their creative work, not for their financial management

As an FMCG client recently discovered, priorities and practicalities dictate that the Finance function in an agency is often not as high up the departmental pecking order as it is in your organisation. A large FMCG decided, after six years of working successfully with a creative agency, that it required a change in creative direction Read More

Posted on November 12, 2012 by Adrian

Trust in commercial relationships

“Trust me, I’m looking after your best interests.” A noble sentiment indeed, but how do you know whether your trust is well-placed or not? Does your account manager view the world through a similar or different lens? Well, you don’t know for sure where the trust lies in a commercial relationship until you test it. Read More

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