Our value to marketing is a formal accountability and oversight monitoring program assists in keeping agency partners focused on accuracy and the efficient use of the marketing budget entrusted them. The end result provides stakeholders in Procurement, Finance, Legal, Internal Audit, and Marketing the comfort that material company expenditures are being monitored and financial risks mitigated.
Absent periodic contract compliance and financial management reviews, agencies have the opportunity to liberally interpret agreement terms in an agency-centric manner, which can reduce an advertiser’s working dollar ratio. Clarifying agreement and SOW language, monitoring agency financial management and holding trusted partners accountable makes good business sense and ensures that marketing investments will be stewarded in a fair and responsible manner.
Agencies and third-party vendors know full well which advertisers are monitoring compliance and performance. Those that do, receive accurate and timely financial reporting and adherence to agreed guidelines.
Independent oversight of contract compliance and performance helps to instill a level of trust and confidence in both parties, that helps to strengthen client/ agency relationships, removing any doubt or suspicion that may be harbored by stakeholders on both sides of these important partnerships.