Partners Perfect: Strategic Sourcing Remains Key to Effective Meetings Management
August 21st, 2009 / White Papers / pdf
Meetings management experts estimate that corporations can save 10 percent to 25 percent of their meetings costs by implementing strategic meetings management programs. Sourcing preferred partners can account for up to 8 percent of the total savings. Depending on the overall meetings spend, this savings can translate into tens or even hundreds of thousands of dollars over the course of a year. But outright savings isn't the only benefit. Strategic sourcing is effective in...
Garnering percent discounts for guaranteed meetings business
Negotiating rebates for excellent performance
Setting service level expectations and ensuring meetings quality
Reducing planning time/resources
Minimizing risk
Still, many companies struggle to implement strategic sourcing for meetings: A corporation must conduct spend analysis, create policies and acquire meetings management technology to organize the effort. It must also implement a campaign to require adoption of new tools and sourcing processes.
