In order to address the growing needs of Digital Media and the Advertising Industry, IPS began development in 2007 of an electronic invoice for automating the interactive/digital media invoice process.
A year later, IPS successfully processed the first electronic invoice for interactive/digital media for one of our Media and Advertising clients. Building on the success of the original IPS Digital Invoice, IPS engaged the IAB (Interactive Advertising Bureau) and helped to create a standard format for digital advertising invoices. When Mediaocean, the largest software and bill/pay company for Advertising Agencies, modestly tweaked the format, IPS became the first company to successfully process the new IAB electronic invoice standard.
With the acceptance of the new digital invoice format developed by IPS, Mediaocean and the IAB, IPS is able to transform any vendor invoice into the IAB Digital Advertising Invoice format. IPS can accept any non-compliant invoice from any vendor and transform it into an all-digital IAB standard invoice. With the IPS Digital Invoice, agencies can now receive interactive/digital invoices through the same EDI process that is used for broadcast media.
Entering batches of invoices used to take hours and was prone to errors and missing information, which would slow invoice processing and payments. The IPS Digital Invoice automates and streamlines the payment process, increases productivity and drives down costs with the most advanced solution for the Media and Advertising marketplace.