FastPay Political Brings the Heat to Philly

 

As political debates heat up, we thought it was more than appropriate to sponsor the AAPC Mid-Atlantic and FastPay happy hour at Ladder 15 – a restored Philadelphia fire station turned bar and restaurant. It was a fitting setting for those that often find themselves putting out political fires for a living.

The venue was decked out in patriotic decorations, with American flag balloons arranged from top to bottom. Adding to the All-American theme, we catered cheesesteaks and pretzels because when in Philly, how could we not? Of course, there was also an open bar serving up some delicious beverages for everyone to sip on and talk shop in our nation’s first capital.

“It’s always a pleasure to partner with our friends at the AAPC Mid-Atlantic chapter to bring together agencies, media publishers, rep firms, and other industry participants. We were just lucky enough to host it in a city with such rich political history as the backdrop,” said Theresa Mueller, VP of Payment Sales at FastPay.

“I really enjoyed hearing about plans for the 2020 cycle and the buying activity that is already occurring,”  said Brendan Kelleher, Relationship Manager at FastPay.

Everyone has thoughts about how the 2020 cycle will shake out, but it seems that one thing is for sure— it will be a wild ride. The AAPC were gracious hosts, and the rich American history of Philadelphia made the perfect location to host the Mid-Atlantic chapter meet-up!

FastPay + Tubefilter Take on VidCon 2019

Nearly 80,000 people made their way out to Anaheim last week for the biggest event in the online video community— VidCon. Fans, creators, executives, and brands came together for four days of live performances and interactive experiences to celebrate all that is digital media, including a bowling event held by FastPay and Tubefilter.

Fastpay and Tubefilter hosted more than 30 clients, colleagues, and creators at Bowlmor, bringing together key players across the media landscape to share a few rounds of bowling, drinks, and good eats. 

“Since schedules are packed with panels, performances, and chats, we wanted to give creators and executives a getaway from the craziness of VidCon. We saw the Bowlmor event as the perfect opportunity to create a VIP lounge experience for attendees to mingle with other industry players while getting away from the action,” said Caroline Zager, Associate of Business Development at FastPay.

An event that brings together this many people in the online video industry is rare, and it was important to take advantage of the opportunity. The night allowed executives to see the passion creatives bring to their work and was a perfect environment to connect and collaborate. 

“We’ve been financing content creators and influencers in this space for 10 years so it was great seeing how our clients have grown and how many new faces are in the market,” explained Maytal Shainberg, SVP of Business Development and Origination at FastPay.

Running on Teamwork

Despite the prospect of looming thunderstorms and humid weather, eight dedicated runners from the FastPay Framingham office took on the 3.5-mile trek of the 43rd annual J.P Morgan Corporate Challenge race in Boston. Held across 13 cities, seven countries, and five continents, the Corporate Challenge is a global run inspired by the New York City marathon but modified to suit the training schedule for even the busiest corporate executive. 

For the past 35 years, The JP Morgan Corporate Challenge, Boston, has brought together employees from countless organizations to promote camaraderie, teamwork, and community engagement. This year’s race was made up of 365 teams and 6,729 individuals ranging from entry-level employees to CEO’s, all with the common goal of raising funds for The Every Child Fund at Boston Children’s Hospital.

Named one of the top 100 charities in the US, The Every Child Fund at Boston Children’s Hospital has been the nonprofit of choice for three consecutive years now. Every donation helps to fund research and provide services insurance doesn’t cover so that families receive the compassionate care they need while caring for a sick child. 

“We had a blast participating in this year’s run. It was the perfect opportunity for us to get together as a team while also supporting a worthy cause, ” said Colleen Grogan, Relationship Manager at FastPay.

Congrats to our very own Jan Beckwith (Accounting Manager) and John Rumney (Operations Analyst), the first finishers on the FastPay team. Win or lose, everyone had a great time giving it their all for a great cause and making memories with their FastPay friends.

Considering the global scale of the Corporate Challenge, don’t be surprised if you see the London and San Francisco offices taking part in the 2020 run!

Can’t Live With Them, Can’t Live Without Them

Media finance professionals understand the complexity of the invoice to payment process. Suppliers often feel like banks, waiting for more than 110 days to be paid only to experience further delays with discrepancy resolution. Agencies have their hands full with a variety of payment terms, manual check writing, and have little incentive for paying suppliers quickly. The friction points are endless – until now.

We’re happy to introduce, FastPay Network, the industry’s first solution that bridges the gap between suppliers and agencies to deliver faster payments, automated workflow, and reduced costs. During the “You Can’t Live With Them, You Can’t Live Without Them” panel at the Media Finance Focus Conference, FastPay Chief Strategy Officer, David Frogel, announced that FastPay Network is the only platform-based solution linking suppliers and agencies to streamline and expedite media payments.

Industry experts, Breck Templeton of 9thWonder, Edward Mockus of Discovery, Frank Connolly of Viamedia, and Patrick Kennedy of AL Media sat down with David to explore the reality of agency and supplier friction points. “Payment terms are lengthening, and agencies can get caught in that pinch. There isn’t enough incentive for the agencies to pay faster. It’s a lot of data points to manage when using checks,” said Breck Templeton, Chief Financial Officer of 9thWonder. The other panelists agreed that radical change needs to be brought to the media payment cycle. “Both sides can benefit from compressing the cycle,” said Edward Mockus.

When discussing solutions to friction points, David Frogel said, “It’s not uncommon for a $50 discrepancy to hold up a $100k invoice. We’re creating solutions for suppliers that can eliminate issues with invoicing before discrepancies occur. If a necessary data point is off, our solution spots it and can resolve an invoicing issue before the invoice is even submitted. It’s the simple things that can actually move the needle in your overall DSO.”

FastPay Network is designed to connect suppliers and agencies so that suppliers gain more control over the AR process and agencies have an incentive for paying on net terms. Faster payment, better data, and greater visibility make accounts receivable more predictable, which means less friction for all.

If you’re a media supplier interested in getting your invoices paid in 30 or 60 days, see how you can join the network here.

Connecting the Dots at Programmatic I/O

Last week, more than 1,200 people from around the world gathered in San Francisco to connect for the Bay Area’s biggest ad tech conference, Programmatic I/O. Known as the go-to conference for digital marketing executives from top brands, advertising agencies, and publishers FastPay was thrilled to be a part of this year’s festivities.

Hosting an exclusive dinner for more than 30 clients and colleagues at the renowned Per Diem restaurant, we brought key players together from across the media landscape for a night of delicious food, drinks, and meaningful conversation around the current state of ad-tech.  

“After a long learning day at Programmatic I/O, we wanted to give clients a relaxing space where they could discuss the shifting media landscape while getting to know other players in the ad-tech space. It was awesome to see people making connections and sharing perspectives from various backgrounds,” said Daniel Guthorn, Business Development Manager at FastPay.  

Creating authentic connections is one of the biggest challenges in business but even more difficult is building connections with the right people. This evening allowed our clients to meet with other industry leaders that they normally wouldn’t have the chance to connect with.

“More than just a financing partner, we’re a strategic partner that brings the right people together to develop authentic connections and drive business for our partners. Our knowledge in the space allows clients to leverage our network to build-out business and create new opportunities. We’re always looking for ways to connect the dots so our clients don’t have to,” said Maytal Shainberg, SVP of Business Development and Origination at FastPay.

Looking Back at the ANA Advertising Financial Management Conference

Every year, hundreds of media finance professionals come together to discuss emerging issues, benchmark best practices, and network with like minds at the ANA Advertising Financial Management Conference. With so many recent developments and conversations around the media ecosystem, this year was especially notable. Panels ranged from fraud in digital advertising and supplier diversity to the development of in-house agencies and navigating what’s next in an explosive media universe.

Nevertheless, it can be difficult to dive deeper into some of these notable topics in just a few days. That’s why we hosted a private dining experience for FastPay clients, friends, and partners to continue the conversation outside of the hustle and bustle. Hosted at celebrity chef Michael Mina’s restaurant Bourbon Steak, invitees had the opportunity to connect 1:1 while enjoying a 3-course meal, craft cocktails, and hand-rolled cigars.

“The ANA AFM Conference is one of the few conferences that include both media and finance professionals so we wanted to utilize this time to facilitate meaningful conversation and learn directly from our client’s experiences. It was a great opportunity to alleviate some concerns and discover ways we can better adapt and support industry professionals,” said Rich Rosenzweig, East Coast Regional Director at FastPay.

As a longstanding sponsor of the ANA AFM, we were happy to be a part of this year’s discussions. Thank you to everyone who stopped by our booth to see us! We hope to see you again next year.

      

FastPay Celebrates the 50th Anniversary of the AAPC Pollie Awards

  

Over 700 people gathered in Napa Valley last week for the 50th anniversary of the 2019 AAPC Pollie Awards & Conference.  With a commitment to helping leaders in political media, FastPay was a proud sponsor of the 40 Under 40 Awards ceremony and reception as well as the sold-out wine train excursion.

“It’s always a pleasure to spend time with our clients and watch them win awards. I can’t think of a better way to celebrate than by taking in views along the Napa vineyards with a glass of wine!” said Theresa Mueller, VP of Political Payments at FastPay.

It wasn’t all about the wine and chocolate though, the days were jam-packed with panel discussions and insights from top leaders such as Joanna Burgos of OnMessage Inc. Burgos moderated a panel around women consultants in the workplace and national conversations happening around #metoo, as well as how women candidates have different campaign obstacles to overcome.

Other panel discussions explored the political industry’s off-year cash crunch, sustainable ways of reducing overhead, and the best TV advertising strategies of today. Not surprisingly, data shows that TV continues to be the lead media channel to drive voter awareness but the stakes are high as new digital and targeted strategies are introduced across the industry.

“As TV broadcast remains the dominant platform for reaching voters, it will be interesting to see how political campaigns evolve in such a competitive market to reach divided audiences, especially in the coveted 2020 cycle. We’re just excited to be a part of all of it,” says Rick Weir, VP of Marketing at FastPay.

Making Moves at the Montgomery Summit

FastPay joined thousands of entrepreneurs, senior investors, and leading executives last week at the Montgomery Summit to discuss business strategy, market positioning, and innovations in the tech landscape. During this exclusive two-day event, panels and discussions ranged from the advancements in AI to the future of venture capital, with a featured presentation by FastPay’s President and COO, Secil Baysal.

“It was an honor to speak at this year’s summit alongside industry leaders from around the world. It’s not every day you have the opportunity for candid conversations about the challenges and opportunities fintech businesses face today,” said Secil.

In his 20-minute panel, Secil took a deep dive into the world of media and finance to discuss the investments in consumer-facing technology and their implications on back-end developments. While the rapid growth in technology has led to some amazing innovations, if you take a closer look at what’s happening behind the curtain you’ll discover outdated software and back-end technology that is impacting the consumer experience.

“We’ve seen digital transformation throughout the media industry in forms of AR/VR, yet AP departments are still running off of checks and payment terms ranging from 120 days up to 155 days. We can send something to the moon quicker than we can send a payment through ACH or check,” said Secil.

Those in the media industry can all relate to this challenge but it’s an important reminder that technology shouldn’t always be taken at face value, and the Montgomery Summit was just the place for this discussion. Check out a recap from Macquarie here

FastPay Partners with the AAPC for 2019 40 Under 40 Awards

Congratulations to the winners of the 2019 40 Under 40 Awards program! FastPay is thrilled to be partnering with AAPC to recognize the winners at an awards ceremony during the 2019 Pollie Awards & Conference in Napa Valley.

“We are very excited to welcome the class of 2019 40 Under 40 winners. These are the rising stars of our profession who are already making an impact in our industry and our country,” said AAPC President Tom Shepard. “As an Association we are proud to honor this extraordinary class at a special event held at the Artesa Winery in Napa Valley on the evening of April 2, and sponsored by FastPay, a fitting partner that illustrates the same enthusiasm for innovation as our distinguished Award winners.”

“FastPay is honored to be a part of this momentous occasion celebrating the next generation of political leaders,” said Theresa Mueller, VP of Political Payments at FastPay. “Sending warm congratulations and wishing the class of 2019 a prosperous and bright future ahead. We look forward to seeing all of you take the political community by storm.”

The AAPC is dedicated to fostering the next generation of political professionals and is proud to recognize leaders and innovators in the political business community (including media,
advertising, polling and public affairs) who are making a mark in their organization and their
profession.

Check out the winners here.

Winning Big in Texas

Last week was very eventful for our clients and partners who attended the sold-out 2019 Reed Awards in Austin, Texas. Vying for bragging rights to coveted awards like the “Best TV Ad” and “Innovation in Media Buying” over 300 people came together in the heart of Texas hoping to win big.

Award categories included:  

  • Bootstrapped campaigns
  • Direct mail
  • Campaign branding and field
  • International
  • Digital
  • Grassroots
  • Television
  • Spanish language, newspaper, radio and phone calls

“As a multi-year Reed attendee, it was such an honor to be able to sponsor the event this year and support the recognition of the best campaign professionals in the industry. I don’t think people realize all of the work they do behind the scenes to make campaigns come to life,” said Theresa Mueller, VP of Political Payments at FastPay

But more than just an awards show, the event provided the political community with a unique opportunity to connect for a couple of days, share insights, talk shop, and of course, have some fun. And as the headline sponsor, we were determined to make that happen.

“We know campaign season can be emotionally and physically draining for our clients so the Reed Awards gave us a chance to recognize all of their hard work and celebrate the wins right there with them,” said Rick Weir, VP of Marketing at FastPay.

Congratulations to all of the winners. We hope to see you again next year!