F&B is an area where companies can often realize significant cost savings, and Scholar offers an array of tips and strategies on her popular blog, T&E Plus (teplus.net). A first step is to identify your annual F&B spend and what percentage of your total meeting spend that accounts for. How does that compare to the industry average? Details such as which groups spend the most on F&B are also important, as is information on how many meals are actually used vs. how many are ordered.
This information-gathering will help determine how much of a rebate you can expect on your food and beverage spend. At press time, Scholar was planning a webinar on how companies can save money on business meals charged on corporate credit cards (including restaurant expenditures at meetings) by partnering with a vendor that provides a rebate program.