Q3 CPO Need To Know

The Top 10 Things Chief Procurement Officers Need

to Manage a Best–in–Class M&E Category

A secure, digital buying channel to consolidate all vendor payments
A preferred supplier program for vendors. Vendors include hotels, ground transportation, production companies, logistics providers and Destination Management Companies
Software to communicate the preferred supplier network across the company globally and includes vendor ratings
Master agreements with two large hotel brands; leverage those relationships to get individual hotels into your program with your terms
An external hotel sourcing team to procure space and fund the program through hotel rebates
Spend management software with accurate, inclusive data that will drive savings and improve supplier terms across all divisions
Empowerment to stop using third parties to pay suppliers and in result save an average of 10%
Software to manage payments and generate on demand spend reporting to take back control from suppliers
Active approval routings for the overall meeting budget that also allows the planner and owner to have control over what the budget is spent on
Category-level spend data to provide insights to business stakeholders on exactly where the money goes and how to optimize spend