AAAA Selects Arbinet To Deliver 'ebiz for media' Registry
March 1, 2007 at 1:34 PM (PT)
The AMERICAN ASSOCIATION OF ADVERTISING AGENCIES today announced plans to partner with ARBINET to build and implement the "ebiz for media" registry, an industrywide cross-media electronic trading directory that will facilitate two-way electronic business transactions and communications between media traffic/sales systems and media buying systems. The registry will capture and store critical financial business information provided by media companies, media buying groups and advertising agencies, allowing them to shift the media transaction lifecycle from today's manual and time-consuming paper process to a streamlined, efficient electronic model.
"The ebiz for media registry will revolutionize the way the advertising industry conducts business," said AAA EVP MICHAEL DONAHUE. "The registry will simplify the way media buyers and sellers transact, resulting in reduced errors, lower costs and the ability to provide procurement audit trails. We chose Arbinet for this important initiative based on their expertise and proven track record in building and operating powerful and scalable transaction management platforms for other digital transactions. We needed a technology solution that ensures the highest level of performance given the volume of interactions that will occur as e-business becomes standard operating procedure in our industry."
ARBINET Pres./CEO CURT HOCKEMEIER commented, "We are honored that the AAAA has selected ARBINET to develop the ebiz for media registry. Since we released our first platform in 2000, ARBINET has been dedicated to developing transaction management technology that creates efficiencies with the power to transform industries. Working together with the AAAA, we will deliver customized, user-driven technology to give media buyers and sellers a solution to simplify and accelerate business transactions."
Projected to launch in MAY 2007, the registry will initially be made available for spot TV and spot radio, which utilize industry XML standards that are developed, tested and in production. The AAAA has appointed industry experts to review requirements and monitor progress for the registry as it is developed.
Trading partner information will be stored in a central database, enabling any trading partner to query information on any other trading partner with whom they wish to conduct e-business. The registry will allow trading partners (directly or through media buying systems) to locate trading partners, and then initiate communication via web services using an industry standard protocol.