Why Integrate AP Automation with Your Media Planning Software

Buying ads doesn’t sound so hard.  But the reality of paid media is much different.

The media buying process includes many important steps. For instance, researching multiple platforms, negotiating buys for media space, developing creative, launching, and measuring campaigns.

There’s clearly a lot that goes into reaching the right audience and increasing conversion rates.

One often overlooked part of the media buying process is accounts payable and client billing. It is not uncommon for large media buyers to have reams of paper invoices for their various clients.

Without an efficient way to process media invoices for the ad time and space that they buy, media buyers could quickly find themselves with a cash flow issue. After all, ad platforms want to be paid promptly for any time and space they provide. Relying on spreadsheets and other manual processes makes it hard to tell suppliers when they will receive payment. Moreover, ineffective media invoice processing makes it difficult for media buyers to be sure their client’s money was well spent. Media buyers need line-item data from media invoices to accurately audit the ad buys made on behalf of their clients.

Media Buyers and Planners cannot afford to let invoice processing take time away from higher-value activities. Not when they’re busy identifying target audiences and designing media buying strategies. For instance, the time media buyers spend reconciling hundreds of line items is time they can’t spend satisfying client demands.

 

Integrating AP automation with your media planning software streamlines the accounts payable process for media buyers.

Automated accounts payable solutions import Broadcast, Print and Digital invoices. The media invoices are received via e-mail, supplier portal, or from a File Transfer Protocol (FTP) landing site. Media invoices sent through the mail can be digitized by a third party for standardized processing. Line-item details and other information from supplier invoices are extracted. That information is compared with the insertion order data in media planning software such as MediaOcean, Strata, Advantage, and others. All without the need for manual keying.

Media invoices with data that matches what’s in the media planning software are uploaded for payment. Leading accounts payable automation solutions integrate seamlessly with media planning software. This eliminates the need to re-key data or maintain siloed solutions. Unmatched invoices are digitally routed to the appropriate person. The same applies to invoices requiring further review based on the media buyer’s pre-defined business rules. The AP solution provides visibility into the status of all media invoices. In addition, it offers complete logging and audit trails of all actions taken on an invoice.

 

Why integrate invoice processing software with media planning software?

Integrating an automated AP solution with media planning software enables buyers to post more media invoices “straight-through” without operator intervention. Having media invoices e-mailed to a centralized location for processing also reduces missing, lost, or misrouted invoices. All this reduces AP costs and decreases the possibility of errors or delays. AP automation also better positions buyers to pay media invoices to terms. This contributes to stronger supplier relationships and fewer inquiries from frustrated suppliers about media invoice status.

In turn, faster media invoice processing lets buyers bill their clients faster for the ad time and space they purchase on their behalf – reducing the chances of a cash crunch caused by slow billing. If you pre-bill, automation makes the clearing and reconciliation process much faster with less work.

Integrating invoice automation with media planning software gives media buyers real-time visibility into what’s been spent on the client’s behalf. Invoice automation eliminates manual keying and reviewing hundreds of media invoice items. It frees AP staff to focus on higher-value activities such as data analysis and customer and supplier management.

 

Media buying is hard. But processing media invoices doesn’t have to be.

 

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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.