• by Richard Whitman , Columnist, August 25, 2016

One could argue that innovation -- as much as we'd like to believe it exists in spades -- isn't really something innate to advertising agencies. Then again, if that were so, Forbes wouldn't be able to name Omnicom to its list of 100 most innovative companies. But, yes, that did happen. Omnicom has been dubbed an innovative company by the powers that be over at Forbes.

The ranking is based on a company's "innovation premium," which is the difference between its market capitalization and the net present value of cash flows from existing businesses. This calculation is then projected forward using a proprietary formula developed by HOLT, a unit of Credit Suisse.

OK -- so being innovative is basically all about making money, according to Forbes. Far be it from me to assume that being named an innovative company sort of had to involve, you know, being innovative -- but whatever. I'm just a lame advertising columnist. What do I know about innovation?

According to Omnicom Digital CEO Jonathan Nelson, it is, in fact, all about making money. He noted: "All of our companies place great emphasis on being innovative in the ways in which we deliver messages for our clients. This ranking translates innovation into dollars and cents, which is an affirmation that creativity and excellence in execution lead to value creation."

So, yeah, innovation is all about making money, I guess.

Of the placement on the list, Omnicom boss John Wren said: "This is a significant recognition for Omnicom and a 'first' for an advertising and marketing company. To be recognized for innovation by Forbes is a testament to the effectiveness of our strategy to ensure all of our agencies, early on, were investing in digital tools and talent so we are extremely well positioned to assist our clients in creating breakthrough marketing innovation at scale."

You can check out the full list of Forbes most innovative companies here .