Our adviser panel were asked the question:
Buying venue space for offsite meetings and conferences is common in my company, but spend and bookings are not being tracked. I have now been asked to develop a central-bookings strategy and create a company policy. What steps should I take?
- Commercial buyer, Midlands
Our advisers said:
* Reiterate that the requisition is the only authority by which a demand can be placed on external providers. No venue space can be procured unless they are requested on an authorised requisition.
* As meetings spend is estimated to be equal to 60 per cent of the total corporate air-travel expenditure, a solution is urgently required. We label such an undertaking as a "strategic meetings management" (SMM) programme.
* Your chosen venue-finding specialist supplier must be capable of building centralised policies and procedures that reduce internal costs; negotiating robust savings; implementing expedient desktop online tools; and providing quality MI that delivers cost savings accountability.
Can you recommend any other steps?