In the recent past, proving the value of Travel and Meetings to key business stakeholders could be an extreme challenge. As an area of expense with a reputation for being difficult to control, a lot of planning and communication went in to convincing management to make investments.
Today, the value of Travel and Meetings is well established, and businesses across the spectrum of maturity and industry are embracing the category with confidence. The next step towards maturity is no longer securing investment, it’s managing value creation and establishing metrics such as ROI that capture the attention of leaders within the business. Meetings and events are now more commonly being sourced by Procurement, though they are also subjects that traditional Procurement may not be experts in.
How does your organization stack up compared to other enterprise-level organizations? Find out in Cvent's latest report.
Procurement in the Pilot’s Seat: The 2017 ProcureCon Travel Benchmarking Report. A look at the strategic relationships and technologies Procurement is using to manage Travel & Meetings spend
Here are a few key findings from the report: