How A Professional Conference Organiser (PCO) Will Streamline Your Conference Financials

von | Apr 24, 2019 | Blog

You are planning to host a conference? At the first sight of all processes involved, you can be easily overwhelmed by the complexity of tasks to master to organise a successful event.

Your solution?

A professional conference organiser (PCO) is a specialist in planning and executing conferences on behalf of a variety of clients. These include academical organisations, associations, governmental organisations or corporate clients.

There is much to consider in the process of organising a profitable conference. From acquiring sponsorship and selecting a venue. To plenary speakers and delegates and much more. Everything is reliant on the organisational plan, and more specifically, the financial plan.

How will you successfully plan, promote and host your conference? A professional conference organiser will ensure all aspects run seamlessly which is undeniably crucial when hosting a conference.

So, let us evaluate the financial responsibilities of a professional conference organiser. We will look at matters that you can tick off your list of conference organising concerns.

Negotiating on your behalf

First and foremost, a PCO will negotiate on your behalf. Unless you have strong negotiating skills and solid relationships with event suppliers, you may be faced with some difficulties.

A PCO will usually have strong relationships with conference suppliers and will get you the best deals.  They will also compile these quotes and then relay all necessary information to your organising committee for final decision making.  

A reliable professional conference organiser will also manage all communication. This ensures each supplier provides its service at the agreed standard.

What this does is save you time, and any headaches you may be faced with should you have to deal with this level of administration on top of your daily responsibilities.

Managing your finances

Have you ever created a budget for a conference? Costs vary, but there are many expenses to consider, and when you are working with a limited budget, it can prove challenging.

A professional conference organiser has years of experience working with budgets. They will have access to the most current event budgeting software working to make sure you incorporate some of the following:

Costs of travel

Your PCO will consider all travel costs from flights and VIP transfers for your faculty, conference accommodation for faculty and delegates to a per diem for your team’s expenses every day if wanted.

Cost of food and beverages

Determining how to organise and what you should spend on food and beverages for the conference can be a tedious task.

From service fees and gratuities to deciding on cash or hosted bar, and handling staff service fees. From negotiating average cost per head for catering to considering sustainability recommendations to health standards. Your PCO will control all of the details.

Digital marketing

Digital marketing for conferences also has many facets. From establishing a target market across various platforms to paid advertising and organic reach.

Building a strategy a few months before the event is crucial, and your PCO will assure enough budget is set aside for this.

Conference Venue Rentals

When it comes to venue hire, there can be hidden costs. Allocating a budget to venue hire is one thing. But maximising that budget is another. Having a PCO on your side will ensure you get the best deal and that you do not get exploited.

Conference internet & audiovisuals (AV)

How fast does your internet line need to be to pull off something like this? What is the cost of further Wi-Fi coverage in your chosen venue? Again, you PCO has experience in this and will handle it all.

Frequently, people decide on their AV provision for a conference first, and then only start to think about the format and how the event will play out.

Doing so is a common mistake we have seen which results in a disparity between what gear has been ordered and what is required. A PCO has much experience in this matter and will plan accordingly.

A PCO will effectively streamline your conference financials, keeping them all in one place and ensuring you get the best value for your money.

A professional conference organiser will oversee all operations of your meeting in one place. This approach makes a  PCO the perfect solution to all your conference organising concerns, from the planning stage, execution and to the post-conference stage.

At Congrex, we are professional association consultants providing flexible and integrated solutions. We strive to build forward-looking associations, so, if you need to achieve your objectives without losing long-term perspective, get in touch with us today.You are planning to host a conference? At the first sight of all processes involved, you can be easily overwhelmed by the complexity of tasks to master to organise a successful event.

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