The days of corporations having multiple suppliers for their travel and event requirements are slowly disappearing. As we work more with procurement teams here at Event Travel Management (ETM), we are witnessing a new trend of a single supplier negotiation for multiple services or products. Increasingly, corporations are seeking more transparency and visibility of spend, especially when it comes to travel. And as 95% of events involve travel, this is highly relevant to event organisers.
One important way we help reduce spend is to negotiate discounts with travel suppliers. As part of this, we encourage customers to include event spend in their annual revenue targets for preferred supplier agreements. By providing our customers with total spend and data analysis on event and group spend, their procurement teams are able to make informed decisions and negotiate with airline and hotel suppliers for the year ahead. Even hosting just one event in a preferred hotel, can make a large contribution to an improved total spend.
Key benefits of a combined approach to travel and events include:
|-||Procurement only required to manage one supplier for agreement, invoicing terms etc|
|-||Total visibility of travel, events and groups spend, allowing customers to further refine their travel and event programs|
|-||Larger spend volumes captured and used for negotiations|
|-||Increase in spend being channelled to preferred suppliers|
|-||Access to corporate rates for events held by the customers preferred suppliers|
Consolidating travel and event spend enables procurement teams to have more control over departmental spend. This ensures negotiated deals are used where possible. A combined approach delivers year-on-year cost avoidance, meaning great savings for businesses.
By encouraging our customers to utilise a corporate hotel agreement in a groups format, we have been able to measure and track savings of up to 17% per room night.
With access to ETM’s extensive reporting capability, more of our customers are moving towards a combined Travel and MICE Program.
As part of the Corporate Travel Management (CTM) Group, we can manage all aspects of event and travel programs globally. ETM takes care of all aspects of our customers’ events, from finding a unique destination, ensuring the safety of their teams, and working within budgets.
From conferences and road shows, to incentive programs and strategic meeting management, our team of specialists are experienced at delivering a diverse range of events that will be remembered for years to come.
Author: Felicity Switzer, ETM’s Head of Business Development
To find out how you can more effectively combine your events and travel programs, contact ETM today.