Research study by PhoCusWright estimates that online meeting registration and reservation tools can help the average organisations save nearly US$1 million in two years.A new research study by PhoCusWright Inc. reports that online meeting registration and reservation tools can help the average organization save nearly U.S. $1 million in two years. The six months research project, underwritten by b-there.com, included telephone interviews with executives responsible for meetings, conferences and tradeshows at 52 organizations from among the FORTUNE 500, the top 100 associations and the top 25 trade show producers, which combined manage more than 7,000 meetings and events per year.
On average, the cumulative ROI benefit of online tools in the first year was estimated at $320,400 for a large corporation with an annual meetings budget of $15.9 million. By the second year, ROI can reach $989,000. The savings include a decline in faxed and telephone-based registrations and confirmations, elimination of data re-entry tasks, and fewer outgoing phone calls to customers. Improved reporting and lower IT expenses related to Web site development were also significant factors.