EventSource (www.eventsource.com), the online site selection and RFP dot-com, recently rolled out Compass, a set of Web-based meeting-tracking and expense-reporting tools for corporate planners.
"Our research shows that 40 percent of all corporate travel budgets are spent on meetings," says Ed Sarraille, president and CEO of EventSource.com. "If that bears out, then we're on the right track with our new tool."
With Compass, companies get a Web site, accessible via the Internet or corporate intranet, customized to include company travel policies. The tools can help a company centralize information on its meeting activities and analyze spending patterns and behaviors, such as rooming data and frequency of stay. The client can decide who is authorized to use the site and determine user privileges.
After a one-time installation fee, ranging from $5,000 to $10,000, there are no monthly maintenance or hosting fees, but EventSource charges a transaction fee on each piece of business booked through Compass. --Anna Chinappi