PPA panel to tackle agencies over late magazine payment

The Periodical Publishers Association plans to set up a cross-industry group to find ways of solving the increasing problems of late payments to magazines by media agencies.

The Periodical Publishers Association plans to set up a

cross-industry group to find ways of solving the increasing problems of

late payments to magazines by media agencies.



The PPA’s credit management group will meet on Friday to discuss how

best to select a panel. The PPA’s deputy chief executive Peter Dear has

written to the Institute of Practitioners in Advertising and hopes to

get them on board. ’Streamlining methods of payment would benefit

everyone,’ he said. ’I don’t want to pre-empt their reaction, but I am

very hopeful the IPA will join us in this initiative.’



The plan for the cross-industry panel follows the PPA’s Credit ’99

conference last Tuesday, at which representatives from the buying and

selling sides agreed that late payment had become a serious problem.



Dear explained: ’They all identified that the system is bound to create

late payment problems because it is so complex. And this has created an

unnecessary and long-running antagonism between the agencies and the

magazines.



The conclusion was that we can, to a certain degree, solve this if we

draw up best practice targets and guidelines.’



He added that recent research conducted by PricewaterhouseCoopers for

the PPA found that invoice queries were the main reasons for late

payment.



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