10 Nov The Numbers Don’t Lie – Small Meetings Calculator Estimates Potential Savings
What constitutes a “meeting,” and how many does your company have in a year? Sure you know about the big ones, three times a year when all the executives and department heads gather together in a conference center outside Chicago. And you may have medium-sized meetings, 10-15 a year when the entire sales team convenes to discuss tactics.
But what about small meetings, when just two or three people jet off to NYC to meet potential business partners, or when a small team gathers to learn a new technology platform? Often organized outside of a company’s travel department, hundreds of these smaller meetings are booked with no support, tools, oversight or discipline. As a result, your company may be losing sight of potential savings.
But just how much?
That’s the question Travel Leaders Corporate can now answer with their new Small Meetings Savings Calculator.
“When I ask someone how much their company spends on small meetings, they look at me like a deer in headlights,” said Anthony Paola, CMP, Travel Leaders Corporate’s Managing Director of Meetings & Events. “They just don’t realize how prevalent small meetings are, and how much of an impact they have on a company’s travel budget. So we created the calculator to help them put a stake into the ground and determine the missed savings opportunities. We want to give them a complete 360 degree view of their meetings spend.”
Here’s how it works: the calculator evaluates your company’s savings potential based on annual air spend across several key industry segments. The industry segments increase the accuracy of the calculator, because a pharmaceutical company will have more small meetings in a year, trying to get drugs passed or clinical trials set up, than a manufacturing company.
The calculator estimates company savings on two percentage tiers—15% and 20%—depending on the company’s level of spend control, though we’ve seen higher savings percentages, especially when food and beverage, transportation and other category items are added into the equation.
The end result shows just how much your company could be saving by using Travel Leaders Corporate’s Small Groups Solution. With this solution, we deliver savings and efficiency without introducing complexity into the buying process, all while complying with each client’s travel policy.
See how much you may be leaving on the table. Try the Small Meetings Savings Calculator today.