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Mtgs. consolidation on the rise.

Publication: Business Travel News
Publication Date: 15-AUG-05 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
About one-half of all companies have consolidated their meetings expenditures and another 14 percent this year are in the process of consolidating, according to an exclusive Meetings Monitor survey.

As more companies optimize their buying power with vendors, the definition of consolidation varies. Some companies opt for centralized planning and sourcing, while others collect data with technology systems and take simple but effective steps to negotiate vendor contracts.

Forty-nine percent of survey respondents, percent, said their companies consolidate meetings expenditures when negotiating with vendors. According to the survey, 14 percent of companies planned to begin leveraging their meetings spend with suppliers in 2005; the remaining companies surveyed had no immediate plans to consolidate.

During the next five years, a "vast majority" of companies will have a consolidated meetings program, either in part or in whole, said Scott Graf, president of Chicago-based WorldTravel Meetings & Incentives....

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