Reducing Venue Costs on a Recurring Conference Programme

The challenge

[INSERT CLIENT CONTEXT] ran a recurring conference programme where venue rates had never been benchmarked and terms rolled over year on year. There was a strong suspicion of overpayment but no evidence — a common situation addressed by cost benchmarking.

Existing procurement model

[INSERT: describe the prior approach — e.g. incumbent venue rebooked annually, no RFP, no benchmarking, limited scrutiny of cancellation and attrition terms].

Our approach

1. 1
   Benchmark

   We benchmarked day delegate, room hire and accommodation rates against comparable venues and cities.
2. 2
   Competitive RFP

   We ran an event RFP to create genuine competitive tension.
3. 3
   Negotiate

   We used the field and the benchmark to negotiate rates and terms.
4. 4
   Contract

   We improved cancellation and attrition provisions to reduce financial risk.

The solution

[INSERT: describe the outcome — e.g. retained or switched venue on improved terms, multi-year agreement, benchmarked rates].

Commercial outcome

[INSERT COMMERCIAL RESULT — evidenced against the benchmark and prior spend].

Operational outcome

[INSERT OPERATIONAL RESULT — e.g. repeatable sourcing process, reduced risk exposure, clearer reporting].

KPIs

Client testimonial

[INSERT CLIENT TESTIMONIAL]— [INSERT NAME, JOB TITLE, ORGANISATION]