Groundbreaking solution makes it easier for advertising sellers to be paid on time and in full for advertising
PremiumMedia360, the leading advertising data automation company, announced the immediate availability of CLIR, a revolutionary cloud-based solution that uses automation technology to bring greater visibility to advertising sales transactions and enables television and radio advertising sellers to reclaim revenue that until now has been lost due to errors and discrepancies in the advertising sales process. CLIR is the first automated solution that provides a complete, integrated view of seller-side data and the buyer-side data provided to ad sellers by their advertising agency partners.
The benefit is CLIR: advertising sellers can now instantly ‘see’ their transactional data through the lens of the advertising agency buyer. As a result, they can immediately and automatically find and correct errors and discrepancies that until now have prolonged the advertising agency reconciliation process, preventing full and timely invoice payment and creating friction between advertising buyers and sellers.
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By integrating and automating the crucial transactional data, advertising sellers gain new insights into the performance of their ad inventory. CLIR finds errors instantly, before the advertising is run and before the invoice is issued. When errors are identified, CLIR automatically messages the right expert to address the issue. CLIR uses machine learning to find all possible solutions, and then presents the solutions to the ad seller in an easy-to-use dashboard.
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Using CLIR, errors and discrepancies that cause revenue leakage, and slow the payment process, are resolved in advance by the advertising seller. The benefits to both the advertising seller and the advertising agency buyer are CLIR: ad sellers retain valuable revenue, and the time-consuming, labor-intensive, friction-causing ad agency reconciliation process is eliminated. That means invoices can be paid in full and on time.
“We appreciate the new momentum in the broadcast industry through new automation initiatives to reduce the friction between ad sellers and ad buyers,” said Kevin Gallagher, EVP, Managing Director, Local Broadcast at Spark Foundry. “Platforms that improve speed and accuracy for broadcasters and agencies, like CLIR, will go a long way to improving business performance for our clients.”
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“Revenue leakage due to errors and discrepancies in the advertising sales process has long been a pain-point for television and radio advertisers, and this problem is even more significant in the digital and OTT space,” says John Bowser, CEO of PremiumMedia360. “Ad sellers can wait 90 or 120 days for payment and may not be paid in full. By eliminating errors, CLIR ad sellers can stop the revenue leakage, reclaim lost revenue and provide a much-needed benefit to their agency partners by reducing the agency’s reconciliation burden. CLIR is an advanced automation solution that is fully compliant with the new TIP (Television Interface Practices) API standards, so it has benefits now, but is also future-proof for the industry.”
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