SOP v5.5 is a strong step to address payment issues: media owners
By Bhawana Anand - September 11, 2017
Pramod Bhandula, Executive Chairman, JCDecaux India, Pawan Bansal, COO, Jagran Engage and Atul Shrivastava, Group CEO, Laqshya Media Group, share their viewpoints on the IOAA move
Standard Operating Process (SOP) v5.5 enforced by the Indian Outdoor Advertising Association (IOAA) with effect from September 1, 2017 to principally address the credit and payments issues that affect Indian OOH business has renewed the hopes and expectations of media owners that the endemic issues will be better tackled now.
Pramod Bhandula, Executive Chairman, JCDecaux India, said, “This is a welcome step by the IOAA which has invested enormous hard work in designing a new framework. This will allow the industry to build good relations amongst different concessionaires as well as ensure complete protection to their work.”Pawan Bansal, COO, Jagran Engage, said, “We have to keep in mind that change takes place over a period of time. Every policy, rule or law takes time in yield the results. Likewise, we will have to give time to the new SOP and if any issue appears, it can be solved in the coming times.”
He added, “Indeed this will make the industry pull up its socks to adopt and implement the right processes within the time framework, including POs being raised by agencies on time or media vendors submitting monitoring images on time, etc. Also since, the country has become GST compliant, clients, agencies and vendors will have to submit paperwork, settle payments and deposit taxes on time”.
The effectiveness of the SOP would hinge on its implementation. “100% implementation is a big challenge but regulating the complete system needs to be pursued by the industry as a whole. Along with agencies and media vendors, this will also induce the clients to pay on time,” said Atul Shrivastava, Group CEO, Laqshya Media Group.