MediaBank First: E-Invoices For Interactive TV Buys

Digitizing media processing paperwork now isn't just for traditional TV. Now, growing media agency systems provider MediaBank announced the availability of EDI (Electronic Data Interchange) invoicing for interactive TV -- as extensions for its O|X media procurement platform and its V|P media buy/sell exchange.

The company says this is the first time users can issue secure XML-based EDI vendor invoices for interactive media transactions. MediaBank has been discussing an interactive system for over a year. Brad Keywell, company CEO, had discussed one at an industry event in September 2008.

MediaBank worked with Image Processing Systems, a company specializing in document scanning, indexing and business process digitization for the interactive TV electronic invoicing software. "Interactive vendor invoice EDI from MediaBank will eliminate invoice data entry and greatly improve discrepancy resolution for our clients," stated Cordie DePascale, vice president of product management for MediaBank.

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MediaBank's systems can handle jobs from soup-to-nuts work; it covers the entire ad-buying process for print, radio, TV and digital.

MediaBank's rival, the longtime big media agency system provider Donovan Data Systems, has its own iDesk media system for digital planning and buying tasks.

MediaBank is already involved in other electronic TV efforts, such as the one with the ePort transaction system fronted by the Television Bureau of Advertising for TV stations. So far, TVB's ePort has booked more than $300 million from 30,000 orders sent by 110 agencies/ advertisers to 930 TV stations.

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