IPS, a global leader in accounts payable automation, announced a partnership with Mediaocean, the mission-critical platform for omnichannel advertising. The partnership formalizes the longstanding relationship between IPS and Mediaocean. It also builds on IPS’ position as the global leader in media payables. Eight of the nine largest advertising agency holding companies in the world use IPS to process the invoices they receive from suppliers.

“Mediaocean is excited to formalize its relationship with IPS,” commented Mediaocean Senior Vice President of Business Development Fraser Woollard. “The IPS AP Automation Solution addresses a major gap in today’s media finance departments by automating invoice processing tasks and reducing the friction caused by invoice discrepancies. The efficiencies provided by IPS and Mediaocean ease the burden on media finance departments to find skilled people to perform this work.”

Tightly integrating the IPS AP Automation Solution with Mediaocean’s buyer workflow (Prisma) makes it easy for advertising agencies to automate their media payables from end-to-end, across all channels, while laying the groundwork for further improvements in media payables.

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“IPS values its longstanding relationship with Mediaocean,” said IPS Founder and CEO Greg Bartels. “This partnership helps advertising agencies digitize their media payables to achieve greater efficiency and provide a seamless user experience across all media channels.”

The IPS AP Automation Solution converts invoices submitted via paper, PDF, and EDI upload for posting to the Mediaocean Prisma platform. IPS validates all invoices, and in the event of an incomplete supplier invoice or other exception, IPS creates automations to resolve and assist IPS subject matter experts to eliminate the discrepancies.

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Mediaocean enables buyers to manage all media with a single platform that integrates all buying methodologies across digital and traditional channels with a standardized workflow. The workflow automates authorizations, RFPs, proposals, negotiations, allocations, ordering, stewardship, trafficking, and execution. Mediaocean also enables ad agencies to fine-tune campaigns through pacing, reporting, optimization, and actualization. By managing all their media on a single platform, ad agencies can employ consistent methods to maintain accountability.

The combination of the IPS AP Automation Solution with Mediaocean provides a digital invoice approval and posting process from Day 1 and a single user experience across all media types.