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Decentralized Co. launches meetings program.

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

Article Excerpt
Defense contractor and conglomerate Raytheon Co. is set to launch in 2006 a discovery mission into its decentralized and largely untracked corporate meetings and events spending. The Waltham, Mass.-based company has hired a corporate meetings management veteran who plans to turn his own department into a model of meetings efficiency to set an example for other divisions.

The potential for savings at Raytheon, ranked the 20th-largest travel spender in BTN's 2005 Corporate Travel 100 with a U.S. booked air volume of $128 million and a U.S. travel and entertainment spend of $310 million, is significant. The average savings promised by many meetings management companies for a consolidation is a 10 percent to 15 percent reduction in costs.

"If we work together and consolidate somehow, we could create some savings, even if it was 10 percent."...

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