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Defying the Downturn: Producing a Successful, Cost-Effective Event for a Publicly Traded Software Company

Client:

Publicly traded software company.

Challenge:

Like most organizations, this Ascend Consulting, Inc. (ACI) client needed to find ways to maintain the quality of its 2009 program while reducing expenses. Since the venue contract was finalized in 2007, it was structured based on a strong economy. Once we reached 2009, we realized that adjustments needed to be made where possible.

Solution:

The ACI team worked with vendor partners to cut costs without sacrificing the quality of the program. Most of this was possible due to long-term relationships with our partners and a mutual approach to the situation as an opportunity to reinforce these partnerships. All involved knew that helping this particular client to be successful in 2009 would contribute to all parties being successful in the future.

Knowing contracts were signed and that the vendors weren't obligated to make any adjustments, we stressed the unusual circumstances and the stability of the program over the years. ACI was able to encourage vendor partners to view the situation as a "share in the pain, share in the gain" scenario.

Results:

In total, ACI, and our partners, saved the client over $150,000. Below are some examples of the savings.

Hotel:
Due to an existing relationship, our director of site selection was able to negotiate lower rates for the client's employee room block, as well as promote an early-bird discounted room rate to the prospective attendees. In addition, we were able to have the food and beverage minimum lowered by $50,000. In total, the commitment to the hotel was reduced by $85,000.

Audio-Visual:
The A/V company which has supported this particular show for the last several years continued to prove its value. ACI solicited bids to ensure we were still receiving competitive pricing. Our A/V partner's actual costs came in $35,000 lower than the bids received.

Off-site Event:
The off-site program was contracted more than nine months prior to the program, which at the time had a larger number of participants projected. We approached the destination management company planning that portion of the event about the ability to reduce our minimum commitment, which resulted in a savings of $14,214.