Emily Tan
Jun 4, 2013

Can agencies already under pressure survive continued delayed payments?

ASIA-PACIFIC – While agencies are fighting the extended payment terms forced on them by major consumer goods companies, publicly available data indicate that agencies have been enduring delayed payment terms since before the economic downturn.

Recent announcements by consumer goods giants Mondelez and PG that they would extend payment terms to 120 days and 75 days from 45, respectively, will therefore hit an industry that is already under pressure. 

“It’s been common practice in the industry for a while now, and these announcements by the major clients are just formalising the practice,” said Darren Woolley, managing director of marketing consultancy TrinityP3. “Agencies have been accepting it...

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