Meetings-In-Transit Part 1 : A Cost Effective Solution To Corporate Expenses

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01/04/2009 – Meetings-In-Transit Part 1 : A Cost Effective Solution To Corporate Expenses

Over the past few months I have been working with a Middle Eastern energy company to assist them with specific corporate travel cost saving and security needs. Along the way a concept was developed to create ‘meetings in transit.’

The ‘meetings in transit’ concept is one which seemed to complex at first, but upon further evaluation was one we pursued for multiple reasons, including both cost savings benefits and significant security advantages. After a month of research this concept was first deployed this past weekend and as no surprise to myself or my client it was a success. With the first ‘meeting in transit’ completed, I’d like to discuss a bit about how ‘meetings in transit’ have financial advantages for multi-national corporations, and small business that are not not centrally located in a single office.

When companies hold small meetings, or departmental meetings, that require participants to attend from multiple office they often end up bringing in attendees to a specific location, often renting a hotel conference room and putting attendees up in hotels. This kind traditional meeting has its advantages, but also has significant cost overhead.

When working with a ‘meeting in transit’ the meeting can be scheduled around the travel schedules of various attendees, and held in a central ‘Hub Airport’ by using the airline’s lounge. This type of meeting allows travelers to converge on a central location during their already nessesary travel and meet in a location that is either already accessible to them, or through renting a conference room at the ‘Hub Airport.” Flights logistics are scheduled so travelers are flying ‘through’ the airport to their onward location, for most travelers, reducing the expenses of multiple flights.

For the ‘meeting in transit’ I arranged this past weekend, business travelers flew in from 8 cities, in 6 countries, on 4 continents and 1 sub-contient; attending a 2 hour meeting in a central location within a major international hub airport; and departed the same evening for destinations in 7 cities, in 7 countries, in 5 continents and 1 sub-continent.

While the logistics were complex for arranging this meeting, the overall cost savings of holding a ‘meeting in transit’ saved my client more than tens-of-thousdands of dollars in travel expenses and lost days of work when compared to a conventional meeting.

For business seeking to reduce over all expenses for essential meetings, this concept is one which should be explored.

…tomorrow we’ll explore the operational security benefits of ‘meetings in transit.’

Happy Flying!