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A privately owned multinational computer technology company needed a solution to gain visibility into their meeting and event spend in order to create cost savings, reduce the number of their preferred suppliers, and automate the supplier payments process.
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How a Fortune 100 Global Technology
Provider Gained Visibility into
Meeting and Event Spend
Reduced Suppliers, and
Generated Cost Savings
Company Overview:
https://www.flickr.com/photos/sakeeb/4087246274
A privately owned multinational computer technology company based in the United States that
develops, sells, repairs, and supports computers and related products and services.
https://www.flickr.com/photos/franganillo/3678747186
Meeting and Event Info:
5,000 annual worldwide events
3,000 cost centers
500 employees working on events
$200M USD annual spend
https://www.flickr.com/photos/epsos/8463683689
Bottom line savings of 5% of supplier spend
311 suppliers onboarded across 27 countries
14 local currencies
$32M USD payments processed
First Year Results:
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The client needed a solution that would:
create cost savings
reduce the # of preferred suppliers
automate the payment process
work closely with their MSP
https://www.flickr.com/photos/34094515@N00/374081831
The Challenge:
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And the solution needed to be accepted by:
1. Event planners
2. Procurement & strategic sourcing
3. Finance & accounts payable
https://www.flickr.com/photos/34094515@N00/374081831
The Challenge:
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https://www.flickr.com/photos/saneboy/3617855124
Event Planners
Required:
A paperless world
8https://www.flickr.com/photos/cybrgrl/2693814267
Event Planners
Required:
Less time reconciling invoices
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https://www.flickr.com/photos/xavier33300/9583638675/
Event Planners
Required:
Simple and easy collaboration with their preferred suppliers
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https://www.flickr.com/photos/76657755@N04/8125974243
Event Planners
Required:
Reporting on what they’re spending
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https://www.flickr.com/photos/dahlstroms/12416292583
Aggregate meeting and event spend from their preferred suppliers.
Procurement &
Strategic Sourcing
Required:
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https://www.flickr.com/photos/vestman/3871170258
Procurement &
Strategic Sourcing
Required:
Provide visibility into their actual spend to uncover new savings opportunities through
easy-to-use, detailed reporting.
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https://www.flickr.com/photos/nicholas_t/7383428640
Procurement &
Strategic Sourcing
Required:
Drive compliance with their supplier contracts, purchase order approvals, and
RFP rules
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https://www.flickr.com/photos/smemon/12696032183/
Finance & Accounts
Payable Required:
Replace meeting cards with a more effective and valuable payment process
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https://www.flickr.com/photos/76657755@N04/7214596024
Finance & Accounts
Payable Required:
Pay suppliers accurately and on time.
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https://www.flickr.com/photos/certified_su/229016531
Ensure compliance with AP policy.
Finance & Accounts
Payable Required:
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https://www.flickr.com/photos/howard_roark/4415947949
The Solution:
Eved met the requirements of the three disparate groups of stakeholders and worked
directly with their MSP – all within the timeframe the client required.
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Creating a successful meeting or event takes a combination of the right people, the right process, and the right technology.
Learn how Eved can help you.
This content originated from this case study.