Access curated Event Facilities procurement intelligence and solve all your questions on Event Facilities procurement outlook, cost saving opportunities in Event Facilities procurement and potential Event Facilities partners.
GET FREE SAMPLEEcosystem of the global Event Facilities category is intertwined with the larger parent market of Business Travel Accommodation. Our category definition describes that overall Business Travel Accommodation market includes all spend related to accommodation of staff, vendors or clients directly required for business travel and events.
Several macro changes in the dynamics of overall Business Travel Accommodation as well as Event Facilities procurement trends are poised to change the business practices and procurement thumb rules. With regional and national boundaries blurring in today's corporate world, companies increasingly find themselves with a latent need to bring together geographically distant teams, customers and stakeholders. Therefore, the demand outlook for Event Facilities is expected to remain strong. As costs rise, companies will be pushed towards finding better cost efficiencies in their travel and entertainment programs. Buyers are leveraging new management tools to analyze the costs using a Total cost of trip/event approach as against cost of an individual trip/event cost item. It is now also expected of suppliers to assess the cost effectiveness of any service they provide from a more holistic point of view. The availability of advanced technologies has prompted travel and event service suppliers to heavily invest in them to improve efficiencies and customer experience. However, most have learnt that technology alone is not a replacement for the human touch when it comes to customer service. As a result, suppliers are spending on both counts - technology and customer service staff. Till the time a formula for perfect balance between the two is discovered, buyers should expect to bear some of this increased OPEX of suppliers. Category managers need to take note of the potential of these developments and reassess the changes required in their procurement practices.
The report discusses in detail the best practices that have served well the category managers responsible for Event Facilities procurement. For example, Investing in benchmarking studies help category managers enhance their knowledge about market pricing or billing rates based on job roles and functions. This allows them to not only save costs but also negotiate with suppliers. For example, while negotiating on rates of bundled services, buyers can save significantly on a single service by cross verifying the rates quoted by suppliers against industry benchmarks. Large organizations seek engagement with global category suppliers. However, they must try to achieve the right blend of regional and global suppliers in order to ensure availability of management services at locations where global players do not have necessary capabilities. Engage with suppliers that use technologies, such as SMMPs and holograms, to enable buyers to track expenditure and save on travel costs. This will significantly reduce overheads for buyers.
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Event Facilities procurement managers also need to proactively identify and mitigate potential risks that can arise in the supply chain or contracts for Event Facilities procurement. Some examples include:
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The report is intended to serve as a one-stop reference guide for Event Facilities procurement strategy and offers a perfect blend of category basics with deep-dive category data and insights. Therefore, it is ideal for category beginners looking for “Event Facilities: Procurement Report 101” as well as for category experts actively tracking the global Event Facilities procurement market.
You may have just initiated your research to design a winning Event Facilities procurement strategy, or you may be a category expert looking for strategic insights and updated data.Either ways, the report has your requirements covered.
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Procurement decisions can prove to be costly in the absence of careful deliberation and evaluation of every available option. In fact, more than 90% of the decision makers we work with acknowledge that timely availability of up-to-date category intelligence can help them make better purchasing decisions. More than 80% of them believe that in-house category intelligence needs to be updated periodically to achieve full benefits. If you have read so far, we are quite sure you agree!!
The Event Facilities procurement report helps take more informed decisions by placing all the critical information and advice at the fingertips of a decision maker. It also specifically answers some of the key questions that we have been routinely asked during our industry outreach initiatives:
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The Event Facilities market report offers a complete picture of the supply market and analyzes the category from the perspective of both buyers and suppliers. Analysis of the category trends, procurement best practices, negotiation levers and overall category management strategy advisory are interspersed with in-depth data and commentary on spend outlook, pricing ecosystem and supplier landscape drilled down to a region-level coverage.
A key highlight of this report is the in-depth outlook created on Event Facilities procurement spend and pricing trends. The report further delves deep into the aspects of cost structure, total cost of ownership and supplier margins for Event Facilities. A dedicated section to supplier profiles and evaluation helps decision makers cast a wider procurement net and identify gaps in existing relationships.
Along with specific category and supplier intelligence, the publication also includes curated insights on Event Facilities market trends, price influencers and inherent risks. These insights help the decision makers prepare for market shaping trends in advance and create alternative strategies for changes in the market conditions.
Additionally, the report also advises on the best practices and strategies to manage the Event Facilities category efficiently. Negotiation levers and opportunities are explained in detail along with quantification of their potential. Benchmark KPIs for supplier and buyer performance management are also aggregated to better organize the category objectives. Other themes of advisory include ideal procurement organization structure, enablers to achieve KPIs or category objectives and ideal SLAs to have with suppliers.
Our research is complex, but our reports are easy to digest. Quantitative analysis and exhaustive commentary is placed in an easy to read format that gives you an in-depth knowledge on the category without spending hours to figure out “what does it mean for my company?”
SpendEdge presents a detailed picture of Event Facilities procurement solutions by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key category influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
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