January 14, 2013
Austerity measures have impacted every area of business, but none more so than procurement departments, which have been handed the task of reducing spend while maintaining quality.
When it comes to meetings, conferences and events, many businesses were previously unaware of exactly how much they spent, with corporate ‘jollies’ making up a large percentage of this expenditure. The recession has forced businesses to scrutinise every penny spent and evaluate how that spend is perceived publicly. These conditions have changed buying trends in a number of ways. (more…)
November 23, 2011
Global spend for external meetings and events is estimated to be in the region of $200 billion a year (£128.4 billion), up to 4 per cent of the total global revenue for many professional service companies.
Over the last five years, most large organisations have been considering the effectiveness of their own external meetings spend. Nevertheless, while many of these organisations have engaged their procurement departments to develop policies and procedures to capture spend, they have failed to consider the true cost of running meetings. (more…)