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Meetings and Events
Integrate meetings and events in the travel program to control and optimize the related spend
In most companies, meetings and events remain uncharted territory for savings, although spend typically represents 35-60 percent of the amount spend separately on transient business travel. Meetings and events run the gamut from five-person training sessions to multi-million-dollar trade shows, with a host of large and small gatherings in between. Frequently, procurement and planning are decentralized, with each department or business unit overseeing its own projects. As a result, purchasing is fragmented and few if any contracts exist with preferred suppliers. Furthermore, spend tracking is a major challenge. More and more companies, however, are reversing the tide and applying the principles of effective travel management to their meetings and events.
The CWT Travel Management Institute has published Meetings and Events: Where Savings Meet Success. This report of in-depth research explains the best practices organizations can adopt to improve their return on investment in M&E, showing that enhanced performance and savings are possible.
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