Congratulations to STAQ and Haymarket, Highly Commended for Best Media Tech Partner
Your “Elevator Pitch”
Agencies are no longer satisfied with receiving invoices and reports based on publisher’s first party ad delivery data. Demand has shifted and publishers must now integrate third party agency data into their systems. Industry wide, this has led to invoices bouncing for being too high and resulted in campaigns not achievi ng their full delivery potential. STAQ is able to automate the collection of third - party data, enabling an holistic view of how campaigns are performing day to day and the ability to push third - party data into Haymarket’s billing system.
Tell us the story
Whilst STAQ was established in the USA, primarily as a programmatic supplier, Haymarket and STAQ soon realised they could advance the technology to benefit the UK market. Haymarket’s primary need was to automate the collection of agency data and push this into its billing system. This would ensure invoices are generated on the first working day of the month and reflect reconciled IOs that are sent through from the buyers on the tenth day. STAQ could create a system to achieve this, but APIs with the agencies were required for data collection. The industry had not seen anything like this before so, when Haymarket went to market, it delivered an education piece to agencies, making assurances on GDPR concerns. With APIs in place, STAQ was able to collate and match the data to Haymarket’s flagging discrepancies on a daily basis. This enabled Haymarket to identify in real time if its campaigns underdeliver, if there are large discrepancies, and if they are going to fulfil the agency’s booking. At the end of the month, STAQ collates all data and pushes through to Haymarket’s billing system ready for invoicing. Haymarket saw an im mediate improvement in cash flow as invoices began to be paid within their 30 - day terms. This freed up resource across the business that had historically been tasked with investigating bounced invoices and generating small credits. Agencies / buyers no lon ger need to investigate such a high volume of PIQ’s, saving them time and improved the overall relationship with Haymarket.
Previously, Haymarket’s unpaid debt was increasing month on month due to the number of invoices that were immediately rejected by agencies. Since S TAQ has been introduced, invoices match reconciled IOs to the penny and are paid within the 30 - day terms. The results are staggering, debt as a percentage of all invoices has dropped from 36% to 8%. Buyers are delighted that their campaigns are only reported on from their own proprietary data and technical problems are raised quickly. Haymarket’s relationship with agency payables has also improved greatly as they no longer need to query as many invoices. From seeing these benefits, GroupM have signed up from now on to have an API always on with STAQ.