Independent oversight, in the form of Agency Contract Compliance and Financial Management reviews is an approach that assists advertisers mightily. It is critical for stakeholders within an organization (Marketing, Finance, Legal, Internal Audit) to be able to focus on and perform against their respective responsibilities including protection of corporate monies and value. Marketing expense is material to advertisers and their financial performance. Further, the efficient use of designated marketing budgets is critical to brand building and demand generation efforts. This includes how third-parties steward and utilize our marketing dollars.
The Creative Advertising, Media, Digital, Social, PR, Promotional and Experiential agency partners utilized to perform certain critical tasks, are compensated for their services in very specific and industry standard ways. It is imperative that they are held to Agreement terms and transact financial activities, billings, costing, accounting for agency time invested, and the like in a detailed and transparent fashion.
Contract compliance and financial management review programs, administered by independent subject matter experts are critical to ensure those financial rules are followed and to keep agency finance teams aligned with an advertisers own interests, requirements and standards. Our independent oversight work is performed tactfully, is respectful to the important business-to-business relationship, and steers clear of the day to day Marketing activities.
Independent contract compliance and financial management reviews would are a service to the Marketing organization, allowing them to focus on core responsibilities.