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Cos. shifting to Web tools. (News).

Publication: Business Travel News
Publication Date: 20-JAN-03 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Though bedeviled by the generally slow growth of meetings consolidation initiatives and acceptance of online third-party solutions as a key part of such programs, Web service providers are heartened some major companies made the leap as 2003 dawned. Several online meeting portals reported new contracts with Corporate Travel 100-level accounts for enterprise-wide solutions.

Yet, those Web companies--many of which acknowledged this sector of the industry has not grown to the extent they thought it would years ago--still have issues. Like many Internet companies, none of the online meeting vendors actually is profitable. In fact, their financial health was called into question last year after the high-profile demise of a well-funded competitor. In addition, many corporations in 2002 viewed their meetings programs as an area simply to severely cut, not to integrate new solutions.

Yet, the suppliers prefer to view the glass as half-full. New revenue, of course, is better than no revenue, and the hope among them is that the major corporations currently using wide-ranging online services will prove to be...

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