Fenestra has attended a number of conferences this year but the contrast between 2 key conferences highlights very clearly the issues in the industry.
First, 6th March was ISBA’s Age of Accountability conference. ISBA is the collective body representing 3,000 major advertisers in the UK. It has been a key player in trying to clean up relations between advertisers and their media supply-chains. The conference brought countless advertisers together representing billions of billings and was ENTIRELY dedicated to the issue of transparency and improving disclosure within the supply-chain.
On the 12th September DMexco started. For the unlikely few who don’t know it, DMexco is a legendary AdTech conference in Cologne attended by literally 10’s thousands AdTech professionals and associated stakeholders including some advertisers and their agency advisors. …
THE IMPACT OF TRANSPARENCY ON FINANCIAL PERFORMANCE: A BRIEF COMMENT ON A RECENTLY UPDATED HARVARD BUSINESS SCHOOL PAPER
Fenestra CFO Kevin Deeley explores the commercial argument for transparent supply chain practices.
Those of us who play a part in the blockchain community often cite “transparency” as a source of value creation that helps to justify adoption of the technology. Is there independent evidence that transparency can improve economic performance? A series of trials as part of a recent Harvard Business School study  says a clear YES.
It is often assumed that if enterprises move their existing business processes to a blockchain it will, as a result of the resulting enhanced transparency, increase the overall economic value of that particular process to its participants. Driving out “bad-actors” because everyone in the chain can see their behaviour and challenge it is a common theme. However, this central tenant of blockchain, that transparency equals value enhancement, is usually stated without demonstrable proof. It is just assumed to be true because intuitively it seems “about right”, so leading to lots of people repeating the mantra. …
May 2, 2018 Hollywood, FL
The Association of National Advertisers (ANA), the preeminent marketer membership association in the US, held its annual Advertising Financial Management conference this week.
Prominent among the critical issues facing and frustrating financial marketing managers continue to be: a lack of media and agency transparency, growing inefficiencies in the ad tech stack, a lack or loss of financial control by clients and the looming impact of Europe’s pending GDPR (General Data Privacy Regulation) legislation.
Over three days, more than 750 chief financial officers, global procurement managers and marketing performance experts discussed and debated these issues with less focus on identifying the problems and increasingly more effort on tactical and practical solutions clients can bring to bear to fix them. …
(IN THE GLOBAL MEDIA-BUYING INDUSTRY)
A global media ecosystem that witnesses $650bn dollars flow through it each year. Essentially a supply-chain — but one where the multiple parties would benefit from greater trust. CEO Ashley MacKenzie makes the enlightened case for global industry reform and technology adoption that can serve the bottom-line.
BLOCKCHAIN is rapidly emerging as the next wave of foundational internet technologies. It has many potential applications, with improving supply-chains universally recognised as the most obvious.
From Walmart1, to JP Morgan2 to UK’s Food Standards Authority3 and countless others, enterprises are at various points of blockchain adoption, be it testing, Proof-of-Concepts and even real-world consumer products being rolled out around the globe. …
In 2008 the global financial services industry collapsed, costing thousands of jobs, wiping out millions of savers and destroying countless billions in shareholder value. We saw the demise of the global economy as a result of inflated leverage and murky processes deeply embedded at the root of the banking system. Now we may be approaching our ‘Lehman moment’ in the advertising and media industries.
A quick economic history lesson — as aptly described in Michael Lewis’s The Big Short, synthetic Collateralised Debt Obligations (CDOs) pulled the global financial system down. Once described by Warren Buffet as “weapons of financial mass destruction”, fundamentally, synthetic CDOs were bets placed on the outcomes of other bets, piling up risk upon risk; as bets got larger, risk accumulated, and the bubble grew larger and larger. …
In the late 90s, when blockchain was a mere glint in the milkman’s eye, Tony Blair and his cronies had a problem. They faced accusations that the decision to take the Labour party in a new direction was a shallow election strategy.
Impressed by the success that Bill Clinton had enjoyed in the US with the New Democrats, Blair and Peter Mandelson worked to back up the change in party direction by applying core elements of The Third Way ideology that underpinned the modern centrist belief system.
Sitting in the middle of a heated panel debate at Campaign’s Blockchain Breakfast Briefing recently, it became clear to me that when it comes to discussing blockchain technology’s potential to resolve the industry’s transparency woes and advance the debate from ‘can it, can’t it?’, …