Working in partnership with this customer since 2004 to deliver strategic meetings management.
This customer is one of the world’s longest standing general insurers, made up of over 13,500 employees. For over 300 years, they have provided peace of mind to individuals and families, as well as protecting small businesses and large corporations from uncertainty.
We provide a venue sourcing and group accommodation solution for this organisation's UK offices. Through our staged approach, we supported them to consolidate expenditure and provided full transparency of booking patterns to key booker stakeholders. Savings achieved during this initial contract were as high as 27%.
Over the years, we’ve continued to work in partnership to deliver strategic meetings management that includes; higher acceptance of client T&Cs by venues, flexible invoice solutions, targeted end-user activity, policy reviews, and more.
Strategic Meetings Management
NYS’ strategic meetings management programme was structured around the following objectives:
To communicate and deliver excellent service
Deliver real savings
Drive Initiatives to deliver maximum contract usage and minimise leakage
Work as a team to strengthen relationships and build on joint strategy
These formed measurable Key Performance Indicators (KPIs) which are monitored by the Account Manager and recorded within the Contract Management Plan. These were:
At least 90% of Service Levels to be achieved
Average DDR to be reduced
Leakage to reduce year-on-year
Shared savings to total 15% of spend
Our relationship has grown over a 10 year period and during that time NYS have delivered exceptional service to our business whilst managing agreed KPI’s to deliver real added value. Business needs have changed over the years and NYS have been flexible, understanding and supportive, the relationship is one we are proud of.
Finance Supplier Relations Manager
We exceeded all KPIs, as detailed below.
Our team achieved 100% of service levels from year end 2012 through to the end of 2015 inclusive. The achieved service levels included:
All venue find requests completed or responded to within 4 hours of receipt
Zero errors on booking confirmations
All agreed Management Information accurate and on time
Calls to the helpdesk answered within three rings Reduction in Average DDR
The average DDR were reduced from £63 (London) and £47 (rest of the UK) in 2012, to £60 (London) and £40 (rest of the UK) by 2015. A 5% - 15% saving.
Leakage has reduced to less than 2%.
Dynamic rate negotiations by our specialist teams and channelling bookers to low cost venues played a significant role in driving cost savings.
In addition to these direct savings, NYS has facilitated efficiency savings by developing a bespoke invoicing solution, with statement reports produced each month to match the client’s billing cycles. NYS also manage a purchasing card, and have worked with preferred venues to mitigate merchant fees.
Other contracted activities
Support with change
Our team has also supported this organisation through an internal restructure and the introduction of a new CEO. Reducing conference expenditure was a key priority during this time and they ultimately chose to instigate a temporary stop on all meetings spend. We helped to cancel approximately £176,500 worth of events scheduled to take place during this time and negotiated with venues to mitigate cancellation charges and save £140,000. Further negotiations with venues resulted in additional refunds in the form of credit notes for future events.