How to Streamline Media Payables

I like to shop – but I hate to wait in line to pay.

If you ever think life is passing you by too fast, go to a department store on a Saturday, buy a sweater or pair of pants and watch things seize up at the cash register.

 

Digital advertising is expanding

In working with advertising agencies, I have learned they have a similar problem. Digital advertising has expanded from a minor niche to a significant part of every ad budget. But unlike TV, radio, print and outdoor advertising, the terms, the deals and the very media themselves are evolving fast – which means that invoicing is all over the map.

Every publisher or online advertising outlet includes different information on its invoices and formats them in its own unique way. That spells trouble for AP teams at the agency when they try to run their invoices through their automated processes.

 

Advertising invoice exceptions

The invoices generate exceptions – meaning a human has to pull them from the process. Then, they have to try to make sense of the information they contain. The result is slow invoice processing, higher costs and a rising backlog.

Fortunately, the Interactive Advertising Bureau (IAB) has been working to create a standard format for digital advertising invoices. And the Mad Men and Women who are responsible for paying bills have reason to celebrate.

By reducing the variations and defining what information should be on every supplier invoice, the standard will make a big dent in accounts payable exceptions. If is properly implemented, that is.

 

A media payables solution

Edenred Pay is making its own contribution to streamlining media payables.

Our invoice software minimizes the discrepancies that turn a streamlined, automated invoice process into a manual one. Publishers that deploy our invoice software can start providing a standard-compliant invoice right now. One that is processed faster, at a lower cost and with far less human intervention.

It may not be as satisfying as getting a great outfit on markdown, but it gets you out of the line a whole lot sooner.

 

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Edenred Pay, an Edenred Company, is the global leader in invoice-to-pay automation. Our integrated platform connects businesses with suppliers, ERPs, banks, FinTechs, and payment rails to automate, optimize, and monetize the entire B2B payments lifecycle – from invoice receipt through payment reconciliation. Edenred Pay’s efficient, integrated solutions create a frictionless process and help deliver value to the enterprise by enhancing visibility and monetizing AP.

Visit www.edenredpay.com or contact us to learn more.