Smooth conduct of overseas business is perhaps one of the biggest advantages of globalization. Increased business activities at the global level have necessitated the need to meet and conduct events for better exchange of ideas, planning, and strategy building. In fact, this trend towards increased number of meetings and events has led to the evolution of the acronym MICE (Meetings, incentives, conferences, and events). MICE typically involve bringing together large groups of individuals, such as employees of organizations or political party workers, for a specific purpose. According to a research carried out by procurement specialists at Technavio, buyers in the global meetings and events (M&E) market are constantly looking for sustainable solutions that will address various procurement challenges. Suppliers, on their part, are making most of the favorable government regulations to provide highly customized one-stop solutions. They are aggressively adopting technology to meet most of the category requirements of procurement managers.
Leading vendors of meetings and events services
At the global level, the M&E market is a not a highly consolidated one. Perhaps this is the reason why a couple of major service providers hold a major chunk of the global M&E market. Some of the major vendors, as identified by our procurement specialists are:
AMERICAN EXPRESS GBT
American Express Global Business Travel is into online/mobile booking technologies, cost effective and risk mitigation options, and traveler care from more than 100 years. Perhaps this is why it is among one of the leading global players for integrated corporate travel and meetings program management solutions. Based in New York, the company was announced as the Supplier of the Year for its travel services and innovation in online and mobile booking technologies by Cisco Systems Inc. in 2015.
CARLSON WAGONLIT TRAVEL
A French company, Carlson Wagonlit Travel is a leading provider of corporate travel management, traveler care, and meetings and events services in 150 countries. Apart from meetings and event management, planning and booking, data analytics, online booking tools, and program management are some of its most sought after services. The company also provides insights about pricing forecasts for airfares, hotels, car rentals.
BCD Travel
BCD Travel is known for the support it provides to its clients in reducing travel spend and increasing the value of their business travel programs. It is a global supplier of corporate travel program and meetings and events services for travelers, procurement managers, and the other employees. The company was recognized as the World’s Leading Travel Management Company in 2015 by World Travel Awards.
Reed Exhibitions
A UK based company, Reed Exhibitions has a strong portfolio of 500 events across 30 countries, ranging from tradeshows to consumer exhibitions across 43 industries. Online/application-based travel booking, reporting and analytics, travel accommodation, and budget management are some of its most sought-after services. The 2017 International Water Summit in Abu Dhabi, is being organized by Reed Exhibitions.
UBM PLC
Another UK based company, UBM delivers events and marketing services across various industries, the main industries the company serves globally are fashion, automotive, manufacturing, pharmaceutical, healthcare, and sports. Data analytics, budget management, client logistics, and marketing services. The company has 70 offices across 20 countries worldwide.
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