IPS, a global leader in accounts payable automation, today announced a partnership with Mediaocean, the mission-critical platform for omnichannel advertising. The partnership formalizes the longstanding relationship between IPS and Mediaocean. It also builds on IPS' position as the global leader in media payables. Eight of the nine largest advertising agency holding companies in the world use IPS to process the invoices they receive from suppliers.
SECAUCUS, N.J., April 26, 2022 /PRNewswire-PRWeb/ -- "Mediaocean is excited to formalize its relationship with IPS," commented Mediaocean Senior Vice President of Business Development Fraser Woollard. "The IPS AP Automation Solution addresses a major gap in today's media finance departments by automating invoice processing tasks and reducing the friction caused by invoice discrepancies. The efficiencies provided by IPS and Mediaocean ease the burden on media finance departments to find skilled people to perform this work."
Tightly integrating the IPS AP Automation Solution with Mediaocean's buyer workflow (Prisma) makes it easy for advertising agencies to automate their media payables from end-to-end, across all channels, while laying the groundwork for further improvements in media payables.
"IPS values its longstanding relationship with Mediaocean," said IPS Founder and CEO Greg Bartels. "This partnership helps advertising agencies digitize their media payables to achieve greater efficiency and provide a seamless user experience across all media channels."
The IPS AP Automation Solution converts invoices submitted via paper, PDF, and EDI upload for posting to the Mediaocean Prisma platform. IPS validates all invoices, and in the event of an incomplete supplier invoice or other exception, IPS creates automations to resolve and assist IPS subject matter experts to eliminate the discrepancies.
Mediaocean enables buyers to manage all media with a single platform that integrates all buying methodologies across digital and traditional channels with a standardized workflow. The workflow automates authorizations, RFPs, proposals, negotiations, allocations, ordering, stewardship, trafficking, and execution. Mediaocean also enables ad agencies to fine-tune campaigns through pacing, reporting, optimization, and actualization. By managing all their media on a single platform, ad agencies can employ consistent methods to maintain accountability.
The combination of the IPS AP Automation Solution with Mediaocean provides a digital invoice approval and posting process from Day 1 and a single user experience across all media types.
IPS and Mediaocean will jointly market their solutions as part of the partnership.
About Mediaocean
Mediaocean is the mission-critical platform for omnichannel advertising. With more than $200 billion in annualized media spend managed through its software, Mediaocean connects brands, agencies, media, technology, and data. Using AI and machine learning technology to control marketing investments and optimize business outcomes, Mediaocean powers campaigns from planning, buying, ad serving, and creative personalization to analysis, optimization, invoices, and payments. Mediaocean employs 1,700 staff across 30 global offices and supports over 100,000 people using its products. Visit http://www.mediaocean.com for more information.
About IPS
IPS is the world's leading provider of automated solutions for omnichannel Media Payables and Production Payables. Eight of the nine largest advertising agency holding companies in the world use IPS to digitize and simplify their Media and Production Payables, and we process more than $50 billion in spend annually. The IPS Media and Production Payables solutions combine robotic process automation and other advanced technologies with media subject matter experts to deliver exceptional results. And our technology integrates with Mediaocean, Freewheel's Strata, Advantage, HMX, and other leading ERPs. Learn why IPS is the Media and Production Payables solution that the advertising industry trusts at http://www.ipswrx.com, LinkedIn and Twitter.
Media Contact
Rich Arminio, Manager, Strategic Partnerships, IPS, 201-710-2404, [email protected]
SOURCE IPS
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