We Renegotiated Agency Rates And Reduced The Rate Card By 20%

Multiple biotech start-up companies, California, USA

Our clients are going through commercialization of their new treatments, consequently experiencing a fast-growing advertising agency spending. We developed a process of benchmarking the agency rate cards and analyzing all scope of work for appropriate billing hours, and rates. We also developed a performance-tracking solution so the agencies can be held accountable for their work. 

20%

Reduction in advertising agency spend

4.5 OUT of 5

Marketing team’s rating as customer satisfaction for better rates and reporting of spend

75 %

Faster onboarding of agency scope of work 

With the help of Buying Simplified, we could get the best value for money on our fast-growing marketing and advertising agency spend  – Director Marketing

Hear from our customers who transformed their Finance
processes with Buying Simplified

Vector

Buying Simplified provided high-quality Accounts Payable associates to quickly gain control of our company's payables and improve our process and metrics
Clinical stage Biotechnology Company, California Director – Accounts Payable

Thank you for making 2022 Successful and for working tirelessly including overtime to ensure our year end deliverables were met or exceeded.
A vaccine innovation company, CaliforniaSr. Director, FP&A

Buying Simplified has extensive breadth and capability in Procurement spend analysis, tail spend management and sourcing services
Global consulting and technology companyHead of Outsourcing Solutions
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Goals

Have the ability to question rate cards proposed by advertising agency and hold them accountable on scope of work. 

Manage to get more work done by reducing the budget on marketing. 

Build a process to compare and analyze the scope of work across multiple advertising agencies.

Our Solution

Cohesive data cleansing, taxonomy, and standardization of agency rate cards. 

Benchmarking to build the right rate card ranges and compare across industry rate card spend. 

Comprehensive spend analysis platform to track and report all agency spending across all products and markets.  

Results

The client marketing director and procurement manager could achieve significant cost savings in marketing spend and build a system to monitor agency performance against the scope of work. 

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