Flock Associates launches a new feature of the agency scoping tool to help brands better control their agency fees, promoting transparency, trust, efficiency and agility.
[ London, United Kingdom, November 21st ]
Flock Associates has just launched a new self-serve feature of its Flock Agency Scoping Tool. Brands can now independently manage their scopes of work in one central place, allowing advertisers and procurement teams to take control of their scoping process and agencies to easily manage their proposals to their clients.
The new feature allows brands to use a powerful pre-built scoping library with over 250 scope descriptions and 400 standard job titles to create scopes of work and publish them direct to their agencies. It is a cloud-based tool that stores data confidentially in a safe and secure location.
Speaking of the launch Simon Francis, Chairperson of Flock Associates said, “We are delighted to upgrade the Flock Agency Scoping Tool to further serve our client’s needs. The new tool brings best in class scope management to the fingertips of our clients and eradicates painful and inaccurate excel”.
One of the foundations of a great client and agency relationship is a clearly defined scope, and fair pay for that scope. To this day, many advertisers are still using spreadsheets to scope their agencies and suffer from labour intensive work, that is frequently inaccurate, with agencies often providing non-transparent and non-standard input, which makes comparison and benchmarking impossible. With billions in agency fees changing hands each year, it is critical that advertisers have the most powerful tool available to them to manage the process.
The Flock Agency Scoping Tool has multiple uses, it can be used for agency fee benchmarking, agency comparisons during pitch negotiations or as a tool to manage complex scopes of work and deliverables. The Tool ensures that agency scopes and fees are transparent, granular, that effort levels are clearly identified by task and that calculations and analysis are accurate.
The Flock Agency Scoping Tool captures technology, data, research, production and other pass through costs. And, its powerful analytics suite allows instant analysis of fees and effort by division, brand, initiative, and by geography, agency, discipline, job title, seniority and much more. Rates and effort can be compared versus other agencies, prior years and Flock benchmarks.
The Flock Agency Scoping Tool is simpler for agencies and advertisers to use, and eradicates the labour intensive, inaccurate exchange of numerous spreadsheets that frustrate both sides. Ultimately it allows agencies to be transparent about their fees and prove their value, and for advertisers to be sure that they are getting the best value for money from them.