Conference Planning Software

Event Budget: Making Strategic Sourcing Work for You

Tuesday, January 20, 2009 by Cvent Staff

An event budget can be a challenge for a single meeting planner working at a small organization. For multiple planners working within a large company, the challenge becomes even more daunting.

Those involved in the meeting planning process at big organizations often have little to no idea how other colleagues are planning meetings. The process for finding venues, creating and sending Request for Proposals (RFPs), etc., varies greatly.

Because of this lack of centralized processes and procedures, planners are missing out on cost-saving negotiations and special pricing deals. You may have even heard stories about groups from the same company that book the same event venue at different rates due to a lack of communication within the organization.

Don't let this happen to you! Especially as meeting budgeting becomes tighter and tighter in 2009, a consolidated program for site selection and RFP management is critical. Such strategic sourcing allows you to make the most of preferred supplier agreements, leverage past rate history and keep contracts and agreements consistent.

Event planning software such as Cvent can help streamline your planning process. Products such as the Cvent Supplier Network keep track of past rate history, preferred suppliers and more, while its Strategic Meetings Management solution brings together meeting planners and travel and procurement departments to tighten spend and increase visibility across the board.

Comments for Event Budget: Making Strategic Sourcing Work for You

Leave a comment





Captcha