“Gamechanger”: IMAA Secures Group Deal On Trade Credit Insurance For Members
The Independent Media Agencies of Australia (IMAA) today announced what it described as a win for its members, after negotiating a “world-first” trade credit insurance group deal.
The group deal, successfully brokered by the IMAA, will see its members save up to 75 per cent on trade credit insurance, in some cases.
According to the IMAA, trade credit insurance protects agencies from bad debts including unpaid invoices caused by client bankruptcy and receivership, default, political risks, and other reasons.
The policy is usually commensurate with the value of advertising spend and the payment terms agreed with each client. Although rarely used, it is one of the highest costs for independent media agencies, the association said.
“We uncovered through our IMAA Pulse Survey that members wanted to look for ways they can save money as a group on big-ticket items,” IMAA general manager Sam Buchanan said.
“One of the biggest expenses for independent media agencies is trade credit insurance, so for the last three months, we have explored a group deal for IMAA members.
“This is an absolute game-changer for us, and the industry and we are thrilled to be able to offer this important cost saving initiative to our members.”
The IMAA held a webinar for members this week, hosted by Buchanan, IMAA chairman and Sandbox media director Ant Colreavy and a trade credit insurance specialist to explain the group deal, which was reportedly received “enthusiastically” by members.
“Many independent agencies were impacted during the COVID-19 pandemic, which saw some trade credit insurers effectively penalise Australian-owned businesses as they ‘de-risked’ themselves,” Colreavy said.
“Limiting the amount of trade credit meant that agencies were left with no other option than to ask their clients for cash upfront or carry the exposure themselves. This new group deal is a massive win for IMAA members and one which will make us all sleep better at night.”
Further information is available at: https://www.theimaa.com.au/
Latest News
triple j’s Requestival Is Back And The Strangeness Is Just Getting Started
In the midst of last year’s lockdown triple j launched a new initiative to bring some joy to the many listeners who were having a tough time. The radio network relinquished all control over its song selection, instead opening it up to listeners as part of the first-ever ‘Requestival’. The initiative was a hit, with […]
Using Behavioural Design To Improve The Customer Experience
Kean Edwards, Experience Design Director at MediaMonks ANZ shares his perspective on how brands can improve customer experience through behavioural design in this opinion piece. Think back on all the things you used to do a year ago that may feel so foreign now: shaking hands, trying a sip from someone’s drink, standing close together […]
72andSunny Releases First Work For New Client, MILKLAB
Freedom Foods Group and 72andSunny Sydney have launched the first consumer-facing campaign to promote MILKLAB, one of Australia’s favourite barista milk ranges. In keeping with the collaborative spirit of the brand, the campaign was created with Australian artists to bring to life the characteristics of the different plant based and dairy milks, which were developed […]
Cresta Awards Announce dentsu mcgarrybowen’s Merlee Jayme As Chair
Merlee Jayme, Global President of Dentsu McGarrybowen, is confirmed as this year’s Chair of the prestigious Cresta Awards. The much-awarded ‘Chairmom’ and Chief Creative Officer of Philippines agency Dentsu, Jayme Syfu, says she cannot wait to see what gets entered in this year’s competition. Her role includes vision-setting for the jury of 120+ leading creatives […]
The Wired Agency Wins Leading Digital Learning Business
Following a pitch process, The Wired Agency [Wired] has won the creative, digital and social remit for the digital education business, CoWorks. Specialising in providing digital based coaching to HSC students, CoWorks is growing its offering across New South Wales following the profound impact Covid had and continues to have, on students and how they […]
Teen Tennis Ace Coco Gauff Heads A Host Of Young Stars As New Balance Targets The Zs
Sports brand New Balance is clearly targeting the Gen Zs in a beautiful piece of work via VML&R New York. Called ‘Impatience is a virtue’, the ad stars teen tennis sensation, the 17-year-old Coco Gauff. Alongside Gauff is 21-year-old US Olympic sprinter Sydney McLaughlin; while actor and activist, the 22-year-old Jaden Smith, completes the trio. […]
Nine’s The Big Idea Store Now Open For Business
The Big Ideas Store is open for its fourth and biggest event yet. From Tuesday 11th May, Powered by Nine is taking attendees sky high with two-weeks of high-profile speakers, creative workshops, exclusive research, and a premium retail pop-up taking over the panoramic 22nd floor of Nine’s new HQ in North Sydney. Famous for its […]
Casefile True Crime Still Australia’s Favourite Podcast, Latest Ranker Shows
Triton Digital has released its April rankings for the month’s most popular podcasts, with Audioboom’s Casefile True Crime still in top place as the nation’s favourite podcast. That came despite Casefile only releasing four episodes during April. In second place, Stuff You Should Know, published by ARN/iHeartMedia, released 17 new episodes. Third and fourth positions […]
How The Consumer Data Right Is Changing Australia (For Customers)
The Consumer Data Right has been billed as a revolutionary new way for Australian businesses and customers to share data. Over two parts, smrtr’s co-founder and CTO Boris Guennewig looks at how it is changing how consumers and businesses use data. In 2019, the Federal Government moved to pass the Consumer Data Right into law […]
Monday TV Wrap: Have You Been Paying Attention? Tops Entertainment Ratings
10’s current affair quiz show Have You Been Paying Attention? was the best performing non-news show of the night, netting 749,000 viewers as per OzTAM’s metro data. It beat Lego Masters at 734,000 viewers, A Current Affair at 730,000 viewers and ABC News at 664,000 viewers. On top overall was Seven News with 1,056,000 viewers, followed by Nine News with […]
IAS Teams Up With dentsu For Programmatic Transparency
Integral Ad Science (IAS) and dentsu ANZ today announced a new partnership to make IAS’s popular Total Visibility product available to all of the agency’s local advertisers, providing industry-wide transparency into digital media quality and corresponding supply path costs. Dentsu is the latest to partner with IAS, furthering its commitment to deliver a comprehensive set […]
Networks Fail To Meet Quotas On Children’s And Australian Content
The Australian Communications and Media Authority has released the results of how networks complied with the standards for Australian content and children’s content over 2020. Both Ten and Nine failed to meet the requirement for Australian drama, with Ten scoring 233 out of a required 250 points, and Nine scoring 181. Seven was most successful, […]
Put Yourself Above The Rest And Enter Best Of The Best!
Clear the calendars for September, because B&T‘s new Best of the Best awards program is shaping up to be one of our most exciting events yet. Presented by Finecast, Best of the Best will bring something unique to this year’s awards season. While most awards focus on the work of an agency as a whole, […]
NOVA Launches ‘The Worst Day Of Your Life’ Podcast, Hosted By Glenn Daniel
NOVA Entertainment has launched a new podcast, The Worst Day of Your Life, featuring real stories of people who refuse to let disaster change their lives and who strive to help others change their lives for the better. In The Worst Day of Your Life, award winning journalist Glenn Daniel shares intimate conversations with people […]
Alicia Olson-Keating To Join Nielsen
Nielsen Holdings plc has announced that Alicia Olson-Keating will join as the Australian Nielsen Managing Director for Television Audience Measurement, effective June 22, 2021. Olson-Keating brings over 30 years of experience in the media industry, in Canada and most recently in Australia. She has also held positions within media industry boards and councils including Numeris, […]
Seven’s Jack McLintock Joins Media Monitoring Company Streem
Realtime media monitoring company Streem has appointed Jack McLintock to the new role of Media Relations Manager. McLintock was previously Corporate and Government Affairs Manager at Seven West Media, and also has several years’ experience working in federal politics. Streem CEO Elgar Welch said McLintock’s strong media industry and corporate affairs experience was a key […]
Think HQ Moves Research Practice In House With Appointment Of Dr Pauline Ho
In a move that strengthens its research offering, purpose-driven integrated communications agency Think HQ has brought its research function in-house and appointed Dr Pauline Ho (pictured right) to lead development of its growing research operation. Dr Pauline Ho has joined Think HQ as Strategy and Insights Manager. She is an experienced research and evaluation specialist […]
One Green Bean Bolsters Leadership Team With Three Promotions
PR and Social agency One Green Bean (ogb) has made three new appointments to its leadership team with the internal promotions of Amber Abbott, (née Lonergan) to head of client services, Hannah Stalder to head of creative services and Matt Hagias to the role of social and influencer lead (responsible for Co-maker, Havas Group’s influencer […]
Klyp Launches Two New Digital Agencies, Iterate And Agora, As Part Of Innovative Expansion Strategy
Celebrate the launch of Brisbane’s newest agency brands and hear how they plan to improve the way businesses work with agencies.
Indie Digital Agency Nightjar Appoints Advisory Board To Accelerate Growth
B&T’s Emerging Agency Of The Year, Nightjar, has recently appointed an advisory board to help drive their growth domestically and scale up internationally. The board brings a new level of strategic thinking to the team and ensures the world class standard of Nightjar’s work continues. The impressive pedigree of both board members means that Nightjar […]
Price Of Dogecoin Tumbles After Divisive Elon Musk SNL Gig
Cryptocurrency dogecoin has seen its price fall after Elon Musk called it a ‘hustle’ during his controversial hosting spot on Saturday Night Live. Despite having previously been a vocal supporter of the cryptocurrency on Twitter, leading to a surge in investment, Musk’s hosting gig coincided with a dramatic drop in dogecoin’s price. The currency began […]
Football Fields To Turn Purple For Pancreatic Cancer
Football fields across Australia are set to be turned purple to raise awareness for a disease that is now the third most common cancer killer in Australia this year. During the month of June, football players from clubs and codes across the nation will be pulling on their purple socks to help raise awareness for […]
Wunderman Thompson Australia Announces The Formal Integration Of Wunderman Thompson Commerce
Wunderman Thompson Australia has announced the formal integration with the Wunderman Thompson Commerce business. Together, the agency now offers clients end-to-end capabilities to inspire and deliver growth, all underpinned by world-class creativity, technology and data expertise. Wunderman Thompson Commerce has delivered winning commerce capabilities for businesses across online retail, D2C, B2B, social and marketplaces. Led […]
People’s Choice CMO Poll Update: It’s A Two-Horse Race As Finish Line Nears!
People's Choice CMO down to a two-horse race. Thankfully, it's so highly corruptible then, isn't it!
NRL Launches 2021 State Of Origin With New Campaign Via NB ϟ PG And Monster Children
State Of Origin isn't far away meaning it's time, once again, to studiously avoid colleagues from Queensland.
Zeno Group Expands Asia-Pacific Leadership
Zeno Group has appointed Ekta Thomas as Head of Client Services for the Asia Pacific Region. She is succeeded by Sarah Littlefair [pictured], the new General Manager for Zeno Australia. In her role, Ekta Thomas is charged with maximizing standards of client service and creativity across the network. She will serve as a regional advocate […]
Tastemade Launches “Tastemade Me Do It” On Snapchat
Tastemade, launched the Snap Mini “Tastemade Me Do It” – a bite-sized, third-party experience that lives in Snapchat and does not require extra installation. With “Tastemade Me Do It,” Snapchatters can test their at-home cooking and DIY skills with weekly challenges, and can answer polls about their taste preferences to earn personalised stickers that they […]
Deakin University Releases ‘Opportunity’ Campaign, Via TBWA Melbourne
Why not discover the "new you" with a uni course? Which alternatively could discover the "lazy and disinterested" you.
10 Announces Third Season Of Pilot Week To Boost Aussie Programming
Network 10 announces the third season of Pilot Week. Rove being actively encouraged not to bother again this year.
Five Ways To Build Culture In A Hybrid Workplace
This ticks the three boxes - culture, hybrid and workplace. What it doesn't tick is the "mysterious odour" box.
