A lack of modern technology presents key problems for advertising agencies today. The enterprise software infrastructure employed by many advertising agencies tends to be fragmented and difficult to use. Advertising agencies usually resort to a combination of different point software solutions for project management(opens in new tab), financials, resource management,(opens in new tab) and customer relationship management (CRM)(opens in new tab), to run their business.
As a result, agencies end up with a technological environment that is unable to provide the capabilities and business data that can scale and adapt to today’s fast pace of business. Agencies may use a combination of on-premise and cloud solutions to satisfy their many requirements. However, on-premise software cannot meet the demands of a modern mobile workforce that has come to expect the speed and agility offered by the cloud.
What are the modern day technological realities of ad agencies?
- Response agility: Users have limited access to critical business information; on-premise systems do not leverage the right information at the right time to close deals or make decisions. For instance, requesting extra labor resources for a remote project on a short notice may result in hiring contractors as project managers cannot see what permanent employees are currently working on or if they are available.
- Workforce productivity: Legacy technology tends to hinder daily routines and consume employees’ valuable time. For example, when employees need to respond to changes in client requests, their focus on business tasks is interrupted. This not only slows productivity but also lowers employee morale.
- Decision making: Executives work in isolation, without a unified view of their organization, so they often don’t grasp how their decisions impact their peers or the overall execution of projects. Decisions are often incomplete and need to be amended because the data is inaccessible from their systems.
- Data security: Regardless of the company size, data security is critical for advertisers, as customer information can be sensitive information. For example, a client that is about to release a new product will not want their company’s personal information leaked ahead of the product or advertising campaign launch.
How can companies address modern day realities of today’s advertising agency?
- Eliminating decentralized systems and departments: An entire agency ran by one business platform enables financials, project management and HR to streamline and automate processing.
- Improving visibility into your business: Business analytics and business intelligence informs better leadership and decision making.
- Auditability: Having the ability to track employee’s activity allows users to easily understand who made changes and why.
- Improving productivity: With a complete view of financials and projects on one platform, it allows customers to eliminate double work and ‘where are we on x project?’
In response to advertising agencies’ challenges, NetSuite provides the technology, the expertise, and the platform that advertising agencies can rely on to manage their business. In a highly competitive sector like advertising, ensuring that the value offered by your company stands out from the competition is key. NetSuite’s cloud-computing solutions streamline agency workflows and offer executive visibility, so companies can optimize their creative potential.
Learn more about NetSuite for the advertising industry(opens in new tab).