Sourcing Services - Data Tracking & Data Mining for Client Trends
Challenge: Meetings & Incentives' clients and internal staff did not have solid data for tracking and identifying procurement trends. As the client and market changed it was difficult to determine the best avenue of procurement to take for a specific meeting.
Solution: Meetings & Incentives customized a database to track each procurement opportunity. The data is updated on a daily basis allowing M&I to see where meetings are booking, trending rates in locations, adjusting process for lead time and RFP duration time, managing cost savings, financial pro forma and more.
Result: All M&I buyers have access to very deep data before sending a procurement opportunity to hotels allowing a more qualified lead to be delivered. This data has allowed greater leverage and negotiations, and given clients greater confidence in our consulting and knowledge abilities. It has also allowed Meetings & Incentives to drive summary and detailed reporting to all clients and for internal usage on a quarterly basis.