A review of how agency finances operate and the implications for remuneration negotiations and commercial controls.
Course content
- Key agency financials – profit and loss account, balance sheet, cash flow.
- Agency performance reviews.
- Remuneration models – key options for paying agencies.
- Managing the commercial relationship.
What you will learn
- How agencies maximise profits, and why cash flow is so important.
- How agencies prepare fee proposals.
- The value of getting the right contract in place – and conducting appropriate contract compliance audits.
Benefits
- Individuals will gain valuable insights into how agencies really work, and identify the areas to focus on in managing the relationship.
- Organisations will benefit from best practice knowledge, improved commercial dealings with agencies and reasonable expectations of transparency.
Who is the course aimed at?
An introductory to intermediate level course for marketing and procurement staff responsible for negotiating and overseeing agency agreements – and approving invoices.