Agency Audit Services
 

Agency Audit Services

Marketing Agency Audit - Driving the Success of Your Brand

Source One's Collaborative Approach to Agency Audit

When it comes to enlisting the support of multiple agencies, collaboration and compliance are essential to the success of not only your marketing campaign, but your company’s overall brand.

Managing several different marketing agency relationships can feel like a juggling act. It is critical to make sure these agencies are not duplicating efforts and more importantly, that they are complying with service and budget requirements. However, dedicating the necessary resources to monitor your agency relationship for contract compliance and conducting detailed audits is a challenge.

Source One can help. Our marketing agency audit specialists will establish the proper procedures to regularly monitor billing and performance, implementing the necessary controls that allow for complete visibility into the allocation of your marketing budget.

We’ll deliver an experienced team dedicated to performing the needed detailed assessment of your advertising agencies including:

A core component of any agency audit is a thorough review of contract and Statement of Work (SOW) language to identify areas of improvement in your current agreements. For marketers with long standing relationships with agency partners, contracts may have often been renewed several times resulting in outdated contract language. One of the best ways to ensure your agreements contain the most relevant and up-to-date contract language is to perform a benchmark against industry standards. Through our extensive database and robust market intelligence, our experts provide an actionable benchmark report comparing your current agreements to others in the market and provide recommendations for improvements.

Through our internal databases, market intelligence, and research, we provide a comprehensive auditing process which includes the following steps:

  • Review of contract language to assess audit opportunity
  • Reconciliation of agency fees through invoice and reporting analysis
  • Detailed assessment of staffing plans
  • Evaluation of compliance measures based on current contract terms
  • Benchmarking of agency compensation structure
  • Review of agency’s management procedures, particularly when handling media investments
  • Analysis of the agency’s media monitoring processes (recoveries owed by the agency in the form of media credits, rebates, billing errors, etc.
  • Recommendations for increasing controls and delivering greater transparency
  • Assistance in the implementation of performance standards and monitoring mechanisms

Recognizing that marketers often view their agencies as true partners, we approach the auditing process collaboratively. We work with your team to identify the agencies best suited for an assessment and conduct thorough audit without disrupting your relationships.
Beyond the evaluation, our marketing sourcing experts serve as an extension of your team, working closely with you to identify areas of improvement to ensure your marketing dollars are well spent.

Source One understands the nature of agency relationships, as well as the value an advertising audit brings to your organization. Our marketing sourcing experts have the experience and expertise to help you implement best-in-class agreements centered on financial stewardship and performance measurement.

Speak with an advertising agency management expert today to learn more about the value of an agency audit.

Share this

Additional Auditing and Marketing Services

Procurement Audit

Looking to enhance your procurement, supply management, and strategic sourcing operations? Look no further than Source One’s procurement audit services. Our procurement audit experts will comprehensively review your supply management operations from vendor contract compliance and pricing agreements, to your strategic sourcing processes and technology. Upon the audit results, we’ll leverage our decades of experience and market intelligence to implement industry best-practices needed to take your procurement operations to the next level.

Procurement Audit Services


Telecom Audit

Don’t get stuck paying for telecommunications services you don’t use or need. Take a proactive approach to cost savings through Source One’s telecom audit services. Our detailed telecom audit will review your spend to identify redundant services, overpayments made to carriers, and outdated provider contracts to drive greater value from your telecom spend. Our telecom audit experts will manage the recovery process from start to finish and establish policies to eliminate rogue telecom spend in the future.

Telecom Audit Services


Audit and Cost Recovery

Accuracy is critical when it comes to your company’s Account Payable operations. Mistakes in the form of duplicate payments, missed rebates, and supplier overcharges have bottom-line impacting consequences. Get ahead of those unnoticed errors with Source One’s recovery audit services. Our recovery audit consultants will locate your overpayments, manage the refund process, and provide process improvement insight to prevent them from happening again.

Recovery Audit Services