Are late fee payments harming the communications industry? Have your say
Mumbrella Asia has today launched a survey designed to explore a key issue for owners of businesses in the marketing and communications industry – the problem of late payment of invoices.
The study follows two stories written by Mumbrella Asia earlier this year on the effects of paying agency partners late for work carried out.
The first concerned the Singaporean social media agency Social Metric, which allegedly owed the Australian agency Dianomi a bill of S$11,333 which had been outstanding for 18 months.
LoveWin
One week later, another story concerning the Singaporean start-up Lovewin came to this site’s attention. This time, the company was accused of owing nearly S$50,000 to two separate agencies.
Following these stories’ publication, a number of individuals came forward to say they had encountered similar and frustrating problems related to late repayment, long chasing processes and a lack of inclination from the client to cough up the cash.
Mumbrella Asia is looking to understand the true scale of the problem across Asia. And for that reason, Mumbrella Asia has launched an online survey for company owners to share their experiences about late repayment.
All answers will be kept anonymous and the data will be used to help Mumbrella Asia in our reporting of this issue in the region.
Those wishing to participate should click on this link. The survey should take no more than five to ten minutes to complete.
Eleanor Dickinson is the editor of Mumbrella Asia. Eleanor joined the Asia platform from Dubai, where she acted as senior reporter for Campaign Middle East.
An agency should always pay their debts…
ReplyPayment terms between agencies is not as big an issue as payment terms from some of the larger global advertisers who increasingly impose payment terms of 90 days or more.
It is unfair and places increased cash flow pressure on agencies already under revenue pressure from decreased revenue negotiation and increased scope of work.
https://www.youtube.com/watch?v=APXv5WHo8BI
ReplyHave your say