Benefits of a Sourcing Partner
Do you want to show cost savings/avoidance? I’d bet that 99% of budget holders would answer “yes” to that question. In meetings & events, some of the biggest cost savings start with sourcing so don’t miss out on the opportunity to take advantage and document your savings. Some of the top benefits to engaging a sourcing partner include:
- Volume correlates to buying power. A sourcing partner is likely sourcing for multiple clients, providing an advantage when negotiating rates and concessions due to increased volume.
- There was a significant financial loss in the meetings & events world during the pandemic – on both sides of the business. As live meetings & events are making their comeback, the need for a strong sourcing partner is more valuable than ever. Your partner will help to find a property or chain that will allow you to keep financial risk low.
- When it comes to deciding on your meeting location, it’s not always just about the sleeping room rate and meeting rental. Your sourcing partner will dig deeper and be able to provide a full picture. This may include additional insight into trends in airfare, union fees, meeting room internet, parking, and much more.
- It can be hard to decide on a property without seeing it in person, and many stakeholders don’t have the budget/time to perform a site visit at every property. A sourcing partner’s sole responsibility is to ensure you have enough information to make an educated decision. The chances are high that your sourcing partner will have either been to the property or have feedback from someone who has been. If not, they are experienced enough to ask the right questions. The next time you book with a sourcing partner you will not arrive at your meeting to find a large pillar in the middle of your meeting space, impacting the view of your attendees!
- With a sourcing partner, gone are the days of recounting all of your meetings and trying to determine how much money you’ve saved at each venue. Most, if not all, sourcing partners will be able to provide reports for you that dictate your meetings’ cost savings. Not only will it be clear that they are worth every penny, but your time is also money!
Interested in hearing more about Infinix Global’s sourcing service and how we can support you in your next meeting or event search? Contact us at: email@example.com