The Insider's Guide to Next-Generation BPM
By John Bauschard, COO, MediaBank , 01/08/2010
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Editor's note: Learn all about cloud computing at our Cloud QCamp coming up on April 7, 2010.
If recent economic history has taught the business world anything, it's that periodically, going back to basics is essential. Yes, we need to continually stretch and embrace new ideas, technologies and trends. But without our business fundamentals under control, embracing the trend du jour is like building a house on swampland.
In the media field, one of the foundational issues that needs fixing in 2010 is the buy/sell process. Especially in the interactive realm, it's beyond puzzling why transactions are still negotiated and consummated using a combination of paper, faxes, email and phone. There is significant room for new solutions that will speed information flow, increase visibility, eliminate paper/printing/postage costs, and shorten payment cycles.
It's been proven in one industry after another that when routine work processes are shifted to an electronic environment, efficiencies result for all parties. This is especially true for the buy/sell process. Visibility and fairness is increased, since opportunities are made available to everyone. Errors are reduced due to the reduction in redundant manual input. Negotiations go faster, revisions are less burdensome—and best of all, remittance times are cut considerably, resulting in better cash flow.
For too long, publishers, media agencies and media brokers have labored with a system that hinders commerce, instead of helps it. What's needed is a standards-based, online transaction platform that integrates with both sell-side and buy-side enterprise applications.
For publishers, this means direct data transfer between the platform and CRM, accounting and inventory management packages. On the agency side, connecting with buy-side systems that manage media planning, buying, traffic and accounting allows budget-challenged buyers to complete more transactions, with fewer people, in less time.
A well-designed transactional platform could even handle the full circle of media tasks such as intelligent inventory submissions and insertion order performance monitoring. Publishers and agencies alike would be able to substantiate campaign performance with real-time access to impressions, clicks and acquisition data.
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March 10, 2011
The sixth annual BPM in Action 2011 Virtual Conference will explore cutting-edge market developments in BPM and describe how to leverage them for improved business operation and performance. More
Date:Apr 07, 2010
Time:13:00 PM
ET- (17:00 GMT)
Date:Apr 07, 2010
Time:12:00 PM
ET- (16:00 GMT)
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