Globalization changed the face of advertising. Companies in remote areas can now handle the core public relations activities of a major corporation. However, advertising companies are still lagging behind as they are stuck with legacy software solutions to manage their operations or no software at all. Implementing a powerful ERP system is the best way to boost the operational efficiency.
Here is why you need ERP software in the advertising industry:
• Manage Project Timelines
• Vendor Management
• Partner Management
• Financial Management
• Centralized Data
• Customer Data
• Time Management
• Analyze Profitability
• Eliminate Operational Bottlenecks and Improve Profits
Benefits of ERP for Advertising Agency
The industry is facing complex challenges and competition. Tracking financials can be tiresome in an industry with retainers and monthly projects. But with the help of right technology, these processes can be streamlined.
With the help of an ERP (enterprise resource planning) system, various aspects of the business like financial planning, project management, and agency workflows can be managed efficiently.
1. Improve Odds of Success
Manage prospective contacts and reference customers in a seamless manner. Project and compare possible scenarios with existing archives to determine the best course action in scaling profitability, cost, timelines, etc.
ERPs can thus help advertising managers identify cites with better revenue and find the perfect time to pitch them a deal.
2. Constantly Track Progress
In the field of advertising, there are numerous departments and entities that need to be on the same page all the time. Each and every department have their own unique requirements. To fulfill the requirements of all these individual entities and collaborate with them in a timely manner - an ERP system is essential.
3. Unite Virtual Groups
Sometimes in advertising, it is quite common to hire someone who is from a different country as a consultant or staff. To get them on track with the project, it is necessary to provide them with all the necessary resources and services. ERPs help teams to collaborate efficiently across the globe.
4. Prioritize Time
Allocate more time for your client and less on the organization. ERPs provide an efficient way to track the time of employees. Monitor their timesheets and drill down on their performance easily. Updates and reports of employees are automatic with ERP systems.
5. Manage Finances
Advertising companies either price monthly or charge according to the reach or impact of the ad. By implementing ERP, the process of manually entering data can be avoided. Companies can easily drill through data and understand the pain points.
NetSuite ERP for Advertising
NetSuite is a standalone ERP system capable of managing all your advertising needs. The system is capable of running all your requirements like project management, resource optimization, pitch-to-invoice, and other critical advertising business processes with the industry's first and only end-to-end cloud services resource planning (SRP) solution.
Pitch and Forecasting
• Gain insight into business development activities through NetSuite.
• Account managers are better informed and therefore can improve client interaction.
• Drill through data to figure out the best route for ROI.
• Quickly understand where your projects are and compare it with budget availability.
• Invest in client projects backed by data.
• Analyze which tasks are performing better.
• Resource workflows can be better managed to optimize revenue.
• Predict demand surges and increase in margin.
• Improve planning and execution accuracy through effective collaboration between entities.
• From budgeting to billing - scan all your financials.
• Reduce client cycles through real-time information flow.
• NetSuite provides role-based information to enhance data-driven decision-making.
• Efficiently track back-office operations through advanced reports
• Gain insights into cash status.
Get in touch with our experts for a quick quote. Jobin & Jismi is an experienced NetSuite implementation partner who can fulfill all your ERP needs.