Diary: Face financial problems in an ad industry fashion

Since advertising was invented, agency heads have faced a number of recurring problems.

These include winning accounts, holding on to accounts, convincing modelesque women to be their PAs and whether to go to The Ivy for lunch, to name a few.

Another problem is the battle with the holders of their agency's purse strings, the financial directors. Now a piece of research by Loudhouse, called the Accounting for Creativity Report, would appear to show that the FDs are right.

Apparently 58 per cent of creative directors thought an agency's "financial processes were someone else's problem" and 62 per cent of all staff have negative attitudes towards financial controls.

However, the research also found only 42 per cent of financial directors thought that clients perceived their agencies to be trustworthy.

But Diary believes every cloud has a silver lining and that agencies can now attempt to rebuild trust by getting out their corporate plastic and taking said clients on skiing holidays, golf weekends, hired yachts and to more fancy restaurants. That should keep everyone happy.

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