Industry Update
Opinion Article20 November 2017

The New Age of Meetings and Events

By Bill Nicholson, Chief Product Officer, Onyx CenterSource

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In an age when travelers are used to being able to plan and book their travel with a quick search on their PC or a few taps on their phone, the world of meeting planning has remained largely a manual one.

That is changing fast, however. With meeting and events bookings now representing a full third of the hotel market – or about $500 billion a year in business – a number of companies are recognizing the market potential and developing new technological solutions.

From platforms that simplify and speed up the planning, booking, tracking and meeting management process to those that closely track payments and provide crucial data to help companies save money and make better-informed decisions, the list of startups is fast-growing.

The less-promising news, however, is that recent surveys show meeting planners are still struggling to find effective technologies for their needs.

According to one study, almost one of two meeting planners today says that event management technology is a primary pain point. And when it comes to venue selection, the biggest issues are a lack of transparency in pricing and poor responses to digital requests for proposals.

Perhaps the biggest challenge, however, studies show, is that meeting planners are still struggling with how to use the new technologies to measure the overall return on investment post-event, and how to analyze and use that data to inform future event programming and design remains a challenge.

Here at Onyx CenterSource, we've been studying this market and developing our own solutions to help alleviate pain points throughout the meetings and events lifecycle.

To better understand what solutions are out there and where we see the market still lacking, download our latest article, "Meetings and Events: The New Frontier For Hospitality Tech Innovation."

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Bill Nicholson

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    Onyx CenterSource is a leading global provider of B2B payments and business intelligence solutions to the hospitality industry. The company strives to build long-lasting relationships with its partners and is passionate about providing quality customer service, consultative insight and cost-effective solutions. With a legacy dating to 1992, the company facilitates in excess of $2.1 billion in payments annually, partnering with more than 150,000 hotel properties and 200,000 travel booking providers in 160 countries. In addition to its headquarters in Dallas, Onyx CenterSource has regional hubs in Seville, Spain and Tønsberg, Norway.

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