Mumbai : Following the “keeping-up-with-Joneses” syndrome, major brand marketers are being forced to routinely respond to challengers’ jump in ad spends, by hiking their own budgets.
Not surprisingly then, to find corporate India’s advertising, media and promotion budgets also rising at a rapid pace, especially during the past decade.
Mediaware Infotech a leader in IT solutions and consultancy for media and advertising companies has introduced a software called AMW. This software module will take care of all the needs of MarcCom Dept of any corporate brand marketer. It will take on advertising budgets to bill-passing - tasks which involve a lot of automation as well as online MIS.
According to Laxmikant Kulkarni, manager, AMW group, “We do micro-budgeting for advertising, media and promotions; accept media plans and estimates data directly from advertising and media agencies; approve estimates online - subject to availability of budgets before our software accepts ‘as executed media schedules data and executes a quick reconciliation check between original and as-executed media schedules.”
AMW accepts third party ad monitoring data. With the dual purpose of cross-checking agency’s as-executed schedule as well as expediting the bill passing process. It reports mis-matches in a statistical format - % deviation by value & volume. For example, if the mis-match is (say) less than 5% by value, a MarCom Manager may decide to pass the entire bill with a noting for future reference. AMW also generates the Purchase Voucher for the Accounts Dept. This can also be integrated with the Accounting Module used by the corporate.”
Adds Deepak Chheda, vice president, “By including “below-the-line” activities we enrich online reporting for brand managers, marketing heads and CEOs”
The company which is more than a decade old has been involved in creating IT solutions for media and advertising. They also offer consultancy services in setting up channels, data analysis, business strategy and technology implementation.