agency management

Comments Off on Production Transparency – should advertisers outside the US be concerned?

Production Transparency – should advertisers outside the US be concerned?

Fourteen months after its landmark report on media transparency, the ANA has delivered another paper that raises concerns over financial transparency and conflicts of interest, this time relating to the US production industry. Following hot on the heels of the announcement at the end of 2016 that the US Department of Justice was investigating production Read More

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.

Is it clear where an agency is making money on your account?

When an agency submits a statement of work for a production job or a media plan to a brand team, you would expect that the amount on the piece of paper you approve represents the whole story. Well, not necessarily. What we have found is that the fees from the brand may only be one Read More

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

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.

4 sensible questions to ask when working with small or young agencies

During the past year we have had the opportunity to audit some small, independent and relatively young agencies in a number of different countries across Europe and in the USA. This has been a learning experience for both us and our clients. Here’s why: standard brand/agency contracts are often based upon a standard contract available to Read More

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

Are your professional relationships worth more to you than your reputation?

Let’s be honest, a presentation on marketing agency compliance audits is not, on the face of it, the most eye catching agenda item at a gathering of seasoned Marketing Directors. You may however be interested to learn that we were in precisely this situation in the slot after lunch on a sunny Friday afternoon in spring (not Read More

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

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