Issue link: https://digital.copcomm.com/i/12999
ners are still challenged with delivering quality meetings on reduced budgets. While companies recognize the importance of face-to-face interaction, everyone is look- ing to do meetings in a more cost effective way. One company in Chicago may have some answers. Cadence, Inc., a meeting planning and event production company based in Wheeling, Illinois has assembled the following top ten tips for cost reduction in 2010: • Outsource. Take stock of the things you person- With ally need to stay involved with and outsource every- thing else. Look for areas where your time can make the most impact on the program or the budget. Focus energy on those activities only, and leverage suppliers and outside resources to accomplish everything else. • Get accurate. Employ a more detailed registration system and get more detail on meals. Reducing headcount on breakfasts for people who only want coffee, and skipping meals for walk-in attendees translates to big savings. • Eliminate a meal. Eliminating a meal cer tainly af fects the budget, but it’s not a popular choice. If corporate policy dictates three meals on company business, consider asking for a suspension of policy or a review. If you’re in a metro area, a per diem will go much far ther than a banquet budget. The fact that attendees need to coordinate dinner plans will foster networking and social time. All good things. • Shop locally. Local sales representatives for a hotel or venue will work harder and can provide signif- icant savings over a national rep or broker. They have a pulse on the local market and can of fer incentives unique to their proper ty. Don’t have time to call 50 hotels? Consider outsourcing the process to an out- side meeting planner on an hourly or fee basis. You’ll also have someone to help with rooming lists and con- tracts. Black Meetings & Tourism May/June 2010: www.blackmeetingsandtourism.com 37 what appears to be the worst of the recession behind us, many corporate meeting plan-