Advertising data automation company PremiumMedia360 has officially unveiled a cloud-based tool that uses automation technology to bring greater visibility to advertising sales transactions — enabling television and radio advertising sellers to potentially “reclaim” revenue that until now has been lost due to errors and discrepancies in the advertising sales process.
Introducing CLIR, billed as 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.”
“Advertising sellers can now instantly ‘see’ their transactional data through the lens of the advertising agency buyer,” the company notes. “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.”
Spark Foundary EVP/Managing Director of Local Broadcast Kevin Gallagher notes, “We appreciate the new momentum in the broadcast industry through new automation initiatives to reduce the friction between ad sellers and ad buyers. Platforms that improve speed and accuracy for broadcasters and agencies, like CLIR, will go a long way to improving business performance for our clients.”
PremiumMedia360 CEO John Bowser adds, “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. 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.”