CONFERENCEDIRECT

Founded in 1998, ConferenceDirect is one of the largest meeting and event management firms in the world. With over 13,000 meetings sourced and managed annually, ConferenceDirect supports a diverse set of clientele around the globe.

Chief Marketing & Sustainability Officer Larry Hanson oversees ConferenceDirect’s conference management team, preferred partner and supplier programs, internal events, marketing, and recruiting efforts. His team manages more than $1.2 billion in sourcing annually with Cvent.

BACKGROUND & GOALS

Transforming vendor sourcing for ConferenceDirect

Initially, ConferenceDirect relied on manual processes to source all vendors outside of hotel venues. Larry sought a strong technology partner to help improve processes for managing these critical business opportunities. “Our initial preferred platform ultimately didn’t work,” he explains. “We were therefore sourcing everything outside of hotels manually, which created a convoluted process for finding the right vendor for what our customers and associates needed.” 

Static spreadsheets cost his associates valuable time and created overly complex workflows. Larry realized ConferenceDirect needed an automated solution that would improve processes in a single, user-friendly platform. The answer was Cvent Vendor Marketplace, powered by Reposite.

The platform has tremendously expanded ConferenceDirect’s offerings for their global clients. “We have a network of around 200 vendors worldwide, but now we’re able to tap into Vendor Marketplace’s global network of up to 65,000 vendors with a wider variety of offerings and services we didn’t have access to before,” shares Larry. “It’s really opened up the door for us to more vendors and services for our customers.”

From there, associates can gather all responses in a single, shareable link for their clients. Customized proposals include vendor options, images, quote pricing, and other important details. Quote statuses are updated in real time and can be organized by project for easy review. These proposals are effortless to create, featuring an intuitive drag-and-drop interface and an AI-powered proposal builder. Larry says this is a key time saving factor for his team. “This quickly consolidates the responses, which is one of the factors that previously made the process so lengthy,” he explains.

He also appreciates the ability to customize the proposal to show specific information based on unique requirements, such as responses for a specific city or certain restaurant. Clients can also provide on-page comments or approval for easier communication. ConferenceDirect is able to track invoices while managing both incoming and outgoing payments within the platform’s payment tools. They can send custom invoices to clients, create and manage payments to suppliers, and save invoices as drafts to be sent at a later scheduled time. “Vendor Marketplace is automated, intuitive, and keeps everything in one place, which is the biggest benefit,” Larry says.

Learn more about efficient vendor sourcing 

RESULTS

Creating measurable improvements for ConferenceDirect

The platform has also proven to be a valuable time saver for ConferenceDirect’s associates. Suppliers are matched within seconds and typically respond in less than 48 hours, significantly reducing sourcing timelines. Rather than manually tracking updates on spreadsheets, associates have all needed information at their fingertips in one location. In fact, one Global Account Executive states, “I’ve used the Vendor Marketplace on numerous occasions when I need private dining solutions…This made the process seamless, providing me with terrific options as it’s efficient, user-friendly, and always delivers.” While specifics vary based on sourcing needs, Larry estimates it could previously take up to 10 hours to source certain vendors whereas it now takes no more than an hour, creating a potential 90% reduction in sourcing timelines.

Importantly, Larry’s team is also able to source vendors that meet specific requirements related to sustainability, security, certifications, or other criteria. “Having the right responses and the right tracking, all in one portal, for these unique needs has been really beneficial for our associates,” he adds. He’s seen strong adoption so far, with an estimated 10% increase in vendor sourcing this year and a projected 25% increase next year.

A growing partnership: Cvent and ConferenceDirect

Larry notes that the relationship between Cvent and ConferenceDirect has already proven its value. “That partnership we’ve established in growing the product and making adjustments as we give feedback has been the biggest strength for us,” he says. For example, in integrating ConfereceDirect’s vendors into the platform, Cvent first worked with key stakeholders to understand use cases and any potential issues. They then created a custom solution designed for ConferenceDirect to suit their unique needs.

This included integrating hundreds of preferred vendors, which were previously tracked on a spreadsheet, into the tool. This highly manual process was time consuming and lacked search functionality to help accurately track bookings. The platform team drafted joint communications to the vendors with links to sign up and create a profile within the portal. They also conducted dedicated trainings and onboarding webinars for preferred suppliers to ensure a smooth process. All of ConferenceDirect’s preferred suppliers now all live in the platform, which provides easier tracking and search functionality. Most importantly, ConferenceDirect now has increased visibility into the amount of requests, awarded business, and commission they are earning from their vendors.

Larry also explains how driving internal adoption is a key goal for his team. “We do a lot of internal communication and training for our associates, who see the value in using this tool,” says Larry. This tailored approach has served ConferenceDirect well. He notes, “We’ve seen a lot of growth in trust and excitement about using the tool as they’ve continued to embrace it.” 

He adds that as the business evolves, maximizing use of the tool will be vital. “We want to be looked at as a full solution for our customers,” he explains. “We feel in the next few years, we’ll continue to see pretty significant growth with these tools.” As they look forward to further expanding their relationship with Cvent, Larry reiterates how unique the platform is within the industry. “There isn’t anyone else out there that does this,” he insists. “It’s manual or nothing.” He is excited for the future as they continue to maximize use of the platform and grow their partnership with Cvent.