Looking to optimise your business travel and meetings & events budgets? In today’s fast-evolving corporate landscape, strategic spend consolidation could be key. We asked Reed & Mackay CEO – UK, Europe & Global Events, Julie Oliver, to highlight how integrating business travel and events spend can deliver cost savings, boost value and help organisations stay competitive.
Are business travel and meetings & events costs rising?
Staying ahead of rising costs is a strategic necessity for organisations. While airfares are stabilising, hotel room rates are expected to rise in key destinations. The overall cost of living and general economic uncertainty continues to impact travel expenses, including food, beverage and public transport.
What are the benefits of combining business travel and meetings & events spend?
- Comprehensive spend visibility. By unifying these categories, organisations gain a holistic view of spend through consolidated reporting, enabling data-driven decisions and enhanced negotiating power with suppliers.
- Cost savings and greater value. Leveraging scale, travel management companies (TMCs) can secure preferential rates for hotels, venues and day delegate packages when travel and events spend is combined.
- Enhanced traveller wellbeing and safety. A unified system simplifies risk management, allowing organisations to track, support and safeguard travellers and delegates worldwide, all through one integrated platform.
- Sustainability and ESG reporting. Combining spend centralises sustainability data, making it easier for organisations to measure, report and achieve their ESG or Science Based Targets.
- People strategy and company culture. Integrated travel and events solutions can foster stronger company culture, support hybrid working and help attract and retain top talent.
How does the combination drive policy adoption, compliance and ROI?
Integrated spend management can both save money and enhance compliance and efficiency. When you’re working with a single contract and centralised supplier feedback, it allows businesses to streamline processes, resolve issues more speedily and gain insights they can action for continual improvement. Return on investment (ROI) can be measured in a number of ways. These range from cost savings and improved employee experience to simplified reporting and building on the trust that comes from working with a partner who understands your organisation.
Is there a rising demand for integrated spend for travel and events management?
Companies are increasingly looking for the convenience, plus the strategic advantage, a single trusted partner can bring to both business travel and events. Reed & Mackay can deliver this integrated approach, which helps clients maximise travel budgets, achieve sustainability goals and enhance the overall experience for every traveller and delegate.
Ready to unlock greater value from your business travel and events spend?
Get in touch
Mail [email protected] to discuss all of your corporate travel and event management needs.
