The competitive advantage of operational efficiencyTeam Mediaocean16 Sep 2022Team Mediaocean16 Sep 2022The goal of operational efficiency is to run your business with maximum effectiveness, which means running lean: spending money on the most essential products and services you need to stay in business, while keeping expenses down by eliminating waste.
“Operational efficiency” refers to a company's ability to execute work quickly and effectively. It’s the power to do more with less; a vital consideration for any business that wants to stay competitive. It’s about doing things right the first time, eliminating waste, and getting more out of people and assets.
The bottom line is simple: if you can improve your operational efficiency by streamlining processes and eliminating redundant tasks, you have a much better chance of staying ahead of the curve in today's fast-paced advertising and media environment.
Stubborn challenges to agency productivity
Cost pressures, employee churn, and an unnecessary abundance of publisher relationships and ad tech partnerships pose daunting challenges to agency productivity.
Savvy media leaders strive to automate as many processes as possible. They need planners and buyers to work with tools designed to help them manage and optimize campaigns faster – and with much higher levels of strategic insight.
Meanwhile, heads of finance need their teams to reconcile invoices faster, with fewer discrepancies. Sitting on client funds for months on end is no one’s idea of an optimal situation.
Simultaneous management of digital media
Let’s face it: managing advertising campaigns has become increasingly muddled. Keeping track of siloed, platform-centered operations is inefficient and overwhelming. Digital media has overtaken traditional media – the overlapping messiness is a burden that can no longer be ignored.
Software automation eases the burden, sorts the mess, and helps you:
- Get campaigns live faster
- Stay current with media plans and new placements
- Reduce errors during tight turnarounds
- Optimize budgets across media partners
- Reconcile invoices faster and with fewer discrepancies
Automated media management across channels
One of the most important things you can do to manage your digital campaigns as efficiently as possible is choose and use the right technology.
In fact, it's just as important as having the right team in place. Without proper digital campaign management software, you’ll likely end up wasting valuable time on manual processes that could easily be accomplished with an automated tool.
In today’s climate, many teams experience unnecessary functional challenges: repetitive, tedious data entry requirements across ad tech platforms, inefficient methods involving emails and spreadsheets, inflated activation timelines created by manual processes, and avoidable problems caused by human error.
Automation helps save time and resources, the two most valuable commodities in your organization. It also enables you to collect more data about the effectiveness of your digital campaigns, which will help you make better decisions about future campaigns.
Integrations designed to accelerate speed to market
Mediaocean is committed to providing integrations that save time for agency teams and increase their workflow efficiency.
Our Prisma solution excels as part of an essential integration platform. Its value comes from its interconnectedness to the digital ecosystem on one side and the financial system on the other.
At every single step of the workflow (RFPs, proposals, order management, trafficking, actualization, invoicing), Prisma connects and integrates buying platforms, including closed ecosystems, ad servers, verification solutions, and publisher sell systems, resulting in dramatically improved work efficiency (via removal of redundant tasks, faster campaign optimizations, and fewer data discrepancies).
Higher operational efficiency is a competitive advantage
The goal of operational efficiency is to run your business with maximum effectiveness, which means running lean: spending money on the most essential products and services you need to stay in business, while keeping expenses down by eliminating waste.
It’s not just a matter of doing more with less,; it’s about taking your business to the next level. If you want to stay competitive in today's market, you need to be able to respond quickly and efficiently to every ad tech issue. You need tools that help streamline processes, automate tasks, and enhance collaboration between teams so they can work together seamlessly from anywhere in the world.
Here at Mediaocean, we’re working hard to deliver the operational efficiency you need to win in today’s business climate and tomorrow’s.