Occasion platform Rent House has predicted that companies will make hundreds of hours’ price of financial savings yearly on conferences and occasions, by accessing new know-how that enables venues internationally to be booked in just a few clicks on-line.
The know-how start-up, backed by the founding father of restaurant reserving app TopTable.com, has launched on the spot reserving know-how, which allows companies to guide and pay for over 3000 of the 100,000 venues it really works with immediately. The corporate expects the variety of venues obtainable to guide immediately to quadruple within the subsequent 12 months. This interprets to hundreds of hours of financial savings on venue negotiations, signalling a big step ahead for the £84bn UK occasions sector, which has prioritised effectivity financial savings because it rebuilds from the Covid-19 pandemic.
Rent House Co-founder, Edward Poland, describes the know-how as groundbreaking within the occasions world. “Occasions have lagged behind different sectors in terms of on the spot reserving. That is the beginning of a brand new period which can empower occasion bookers to grow to be extra environment friendly of their roles, and imply enormous financial savings for companies. An organization with typical enterprise assembly and occasion necessities stands to save lots of hundreds of hours of administration time.”
Rent House’s know-how permits workers tasked with organising conferences and occasions to look and uncover venues utilizing search filters together with value, location and capability. They’ll then guide immediately, with out the necessity to create pointless backwards and forwards with suppliers. Rent House additionally gives an enterprise service, Rent House 360, which offers built-in sourcing, good cost and contracting options for companies with massive assembly and occasion applications.
Luke Fagg, Senior Advertising Supervisor at CoachHub, a consumer of Rent House 360, experiences: “Rent House has saved us numerous hours negotiating with suppliers in addition to providing glorious logistical help. We’re actually trying ahead to the launch of their on the spot reserving service that I imagine will take this to a complete new stage.”
As Poland states: “The standard mannequin of reserving conferences and occasions via a convoluted means of trying to find appropriate venues, and spending days of backwards and forwards discussing value and availability with the venue, is being turned on its head. Whether or not you’re a big company with a multi-million pound occasions program, or a busy PA tasked with reserving the workplace Christmas social gathering, this know-how offers enormous time and value upside.”
Abby Darke, Govt Assistant at Acrisure, mentioned: “Rent House’s know-how and help meant I might in the end organise a profitable occasion while juggling my different priorities. The power to rapidly discover the best venue, and guide it with out trouble, was transformational.”
Final yr an trade report by Verified Market Analysis estimated that the worldwide assembly and occasions trade was price $886.99 billion in 2020, and is projected to achieve $2,194.40 billion by 2028. Adam Parry, Founding father of Occasion Trade Information, a number one occasions trade publication, mentioned: “What’s occurring in conferences and occasions is the beginning of a metamorphosis much like that witnessed by the journey sector 20 years in the past, when firms equivalent to Expedia and Accommodations.com basically modified the panorama by making provider stock extra readily accessible. It’s a quickly altering enterprise setting which will probably be price billions in financial savings.”
The demand for streamlined know-how round conferences and occasions has been a serious focus for companies hit by difficult financial occasions. In response to a report by ICE (In-Home Company Occasion Planners), some occasion prices have gone up by as a lot as 40%-60%, leaving firms grappling with decreased assets and tightened budgets post-pandemic.
In these difficult occasions Rent House has seen a 187% enhance in take up of its enterprise options from companies trying to deepen digitalisation to create cost-savings for the reason that pandemic. The enterprise is continuous to spend money on the way forward for assembly and occasion reserving, together with the discharge of an AI-driven suggestion instrument for launch within the close to future, and is anticipating sustained emphasis on pace and effectivity from its shoppers via the following 24 months.
As Poland says: “Procurement has been a serious time drain in occasions, notably since Covid. Instruments like Rent House 360 and on the spot reserving harness know-how to chop this time drastically, giving occasion planners again crucial time to deal with their occasions.”