Identifying and selecting a platform to run your entire advertising business is a complex and arduous task. Migrating systems isn’t the most enjoyable thing to do if you have been using Google DSM in the past, but unfortunately, this is something that you cannot avoid with DSM being shutdown. If you are a publisher and are looking to implement an order management system to replace the legacy DSM, then this post will help you guide in your decision making if not help evaluate platforms. Publishers should use this opportunity to streamline the systems and processes while evaluating the integrations with third-party platforms and the features that are available in the modern-day Order Management System (OMS) platforms. The following are the key spheres that publishers should focus on improving to find the best fit OMS platform for your needs:
Gather Team feedback
Have detailed requirements sessions with your ad sales teams, ad operations, and yield management teams who were either using DSM or have been reliant on excel sheets so far to manage the entire advertising business. Shortlist the features that were most useful for the team in DSM or where they have been spending a significant amount of time in excel sheets. Also, analyze the volume of deals that today your team works on and the entire workflow process including the approval cycles. Map out and export all the critical data like product catalog, product rate card, deal volume, closed vs total proposals, finance exports, from DSM or from the different excel sheets.
Map the “As-Is” or Current Process
Document your current business process of how different teams get involved in deal flow. Also, documentation on the entire pre-sales activity, different teams, and different technology partners involved, and the required integrations. While you map out your current process, also look for places where things are stale or inefficient due to manual work.
Key Product Features
With the input from different teams in your company, data, and the documented “As-Is” business process, analyze the strengths and weaknesses of your current process. Define your new “To-Be” business process and shortlist the features based on must-haves, should-haves, and nice to have. Evaluate different OMS platforms feature set against your stack ranked list and derive the best fit platform for your requirements.
Some areas to consider are:
Omnichannel: Review the order management system based on whether the platform can scale as your business complexity increases tomorrow with new product lines and new channels of advertising flowing through the order management system
Integrations: Evaluate whether the OMS platform has all the integrations that you need to run your business. In addition to your current integration needs, also evaluate whether the OMS platform can seamless integrate with other third-party systems as your business evolves without having to look for a new OMS.
Flexibility: Look for a platform that is flexible enough to handle the complex execution requirements of your ad sales and ad operations process. Ensure the platform is also built with industry-leading technologies for a smoother integration within your enterprise architecture.
Scalability: Look for a technology partner with a scalable platform that can easily and quickly automate the rollout of new features and connections and save you time and manual labor without disrupting your day to day business operations.
Data Availability: Find an OMS that can offer you a top-down view into your inventory, revenue, and partners. Getting insight into your deal pipeline helps you make informed decisions about supply allocation and inventory pricing.
Cross-Channel Management: Be careful of the ability to manage your direct and programmatic inventory so you can holistically analyze your yield across different channels.
Insights & Reporting: Evaluate platforms that give you complete control of your data and also provides comprehensive reporting and analytics offering so that you don’t have to custom build a BI application for your business reporting needs.
Key Vendor Considerations
Once you have evaluated the platform for feature compatibility and also from a technology perspective, the next consideration should be the vendor itself. You don’t want to go through all the effort of setting up the order management system (OMS) only to find out down the road that the OMS is developing in a different direction than you need.
Some questions to ask are:
– What is the vendor’s product roadmap look like for the next 18 months?
– What are the planned feature releases? Does it align with your goals/needs?
– What are the key areas that the vendor is focusing on in the OMS platform?
– Who is the list of clients using the OMS?
– Is the OMS built with the latest technology stack and is deployed on the cloud or requires a new infrastructure?
– Is the OMS custom or turnkey?
– Does the vendor provide the technical and account support to structure your solution?
– Does the vendor provide training to different teams in your organization?
– Does the vendor provide comprehensive documentation?
– How quickly will your team be able to learn the new system?
Symmetriq is an Omni Channel Advertising Revenue Management platform allowing you to unify inventory, manage quote to cash, and maximize revenue across OTT, Digital, Linear, and Print in a Single Cloud-Based SaaS Advertising Revenue Management platform. Symmetriq was born out of the need to provide tools, technologies, and platforms to enable media companies to manage and run a profitable advertising business. Our omnichannel advertising revenue management platform is built natively on the cloud with the latest web technologies with the scale being the primary driver without compromising on security and compliance which has become paramount in the current privacy-first world. With Symmetriq you can:
– Scale your ad sales
– Streamline your ad operations
– Reduce your leaky revenue bucket
– Get complete visibility on your revenue
– Manage multiple rate cards as your business scales
– Customize your product catalog based on your business requirements
– Measure the health of your advertising business in real-time
We help leading publishers across the globe manage their complex advertising business in a single platform enabling them to run a profitable media business. For any queries, please reach out to [email protected].
Read this blog post to know how order management system can uplift your Ad Sales and Ad Operations