Survey: Online Reg, Res Can Save $1M

Online travel research firm PhoCusWright last month released a new study claiming that the use of online meeting registration and reservation tools can save the average organization nearly $1 million in two years. The survey, which was underwritten by online attendee management company B-there.com, included 52 organizations, including corporations, associations and tradeshow producers. Sherman, Conn.-based PhoCusWright estimated that a corporation with an annual $15.9 million meetings budget could save $320,400 in the first year of use of online tools and a total of $989,000 after two years. The savings would be generated from improved reporting, lower IT expenses related to Web site development and declines in operational costs, including decreasing phone calls and eliminating data re-entry tasks. "These tools not only improve service levels, but redefine the nature of the transaction among suppliers, corporations and attendees," said PhoCusWright president and CEO Philip Wolf.