American Express Business Travel Launches First Electronic Arena for Negotiating Corporate Meeting Venues.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Groundbreaking Web-Based Technology Supports Bid Negotiations and Helps to Bring Meetings Procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. into Greater Alignment with Corporate Purchasing Best Practices American Express American Express (NYSE: AXP), sometimes known as "AmEx" or "Amex", is a diversified global financial services company, headquartered in New York City. The company is best known for its credit card, charge card and traveler's cheque businesses. Business Travel, the world's largest travel management company, today announced the first electronic solution for negotiating corporate meeting venues. The web-based application See Web application. was developed exclusively for American Express Business Travel by StarCite, the provider of On Demand Global Meeting Solutions, to complement the services offered by Corporate Meeting Solutions, a meetings procurement practice at American Express. The new American Express electronic auction (e-auction) solution brings corporations and hoteliers together in a transparent Internet arena, providing greater visibility into the venue bid negotiation process. The tool helps meeting buyers and procurement professionals to quickly identify and source strategic hotel partners for their meetings needs and field competitive package offers consistent with their corporate travel policies and preferred supplier strategies. When used in conjunction with American Express' strategic sourcing practices the new e-auction solution brings greater rigor rigor /rig·or/ (rig´er) [L.] chill; rigidity. rigor mor´tis the stiffening of a dead body accompanying depletion of adenosine triphosphate in the muscle fibers. to meetings procurement, helping corporate buyers gain greater control over and derive more value from their meetings spend. Additionally, the e-auction technology helps buyers to reduce cycle time and achieve improved sourcing and decision-making efficiency gains. It also helps hoteliers to focus on providing the best, most competitive meetings packages possible. The e-auction tool will be available in January for American Express' U.S.-based clients, with a global release to follow later in the year. "The new, ground-breaking American Express e-auction technology supports an historically complex event management bidding process, making it easier than ever for corporations to realize greater value from their meetings investment, better leverage preferred supplier relationships, and more closely link meetings purchasing to their overall travel procurement strategy," said Jay Roseman, Vice President of Corporate Meeting Solutions, American Express Business Travel. "When used in conjunction with our strategic purchasing programs, the American Express e-auction tool helps to further streamline deal-making, allowing meeting and procurement buyers and hotel suppliers to more effectively negotiate and together generate the best overall meeting package." "This tool is just the latest example of StarCite's long and productive partnership with American Express Business Travel. We're pleased to have been asked by American Express to develop such a complementary addition to their Corporate Meeting Solutions practice," said Michael Boult boult Verb same as bolt2 , President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of StarCite. "Meetings management is one of the last great frontiers of unmanaged corporate travel spending. As a leader in strategic meetings management technologies we're excited to provide the tool that will help pave PAVE Cardiology A clinical trial–Post AV Node Ablation Evaluation the way for smarter, more efficient and cost-effective bid negotiations for all participants." How It Works Using the American Express e-auction solution for meetings management is simple and straightforward. First, corporate buyers identify a threshold volume for meetings and events that must be competitively bid via the e-auction tool. For each unique event, American Express Business Travel procurement specialists then initiate a site search based on the client's stated meeting requirements, preferred supplier strategy and travel policy. Based on the tailored availability report generated, the buyer narrows its venue options down to a short list of suppliers and properties that appear best prepared to provide the value clients require. Finally, American Express hosts the actual e-auction via a secure extranet-site allowing the buyer to customize the bid process and receive a formal offer within minutes. The auction thereby gives buyers significant flexibility during the bidding process, allowing buyers to tailor their requests. About American Express Business Travel American Express Business Travel, a division of the American Express Company, is dedicated to helping its clients realize the greatest possible value from their investment in travel through increased cost savings, outstanding customer service and greater spend control. For small businesses, medium-sized enterprises and multinational corporations
service industry - an industry that provides services rather than tangible objects expertise, strategic sourcing and supplier negotiation support and customer service available around the world, around the clock, online and offline. American Express operates the world's largest travel agency network, recording nearly $20 billion in worldwide travel sales in 2004. American Express Company (www.americanexpress.com) is a diversified diversified (di·verˑ·s worldwide travel, financial and network services company founded in 1850. It is a world leader in charge and credit cards, Travelers Cheques, travel, business services and international banking. About StarCite, Inc. StarCite, Inc. is the provider of On Demand Global Meeting Solutions(TM). StarCite optimizes global investments in corporate meetings and events delivering visibility, savings and control. StarCite provides process efficiency, enabling technology and proven adoption management support to drive significant cost reduction to buyers and enhanced revenues to suppliers. StarCite is based in Philadelphia. Investors in StarCite include Internet Capital Group (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ICGE); Maritz Travel Company; Seaport Capital Seaport Capital is a New York City-based private equity fund that invests in media, communications & business and information services companies. Most of the properties they own are concentrated in medium and small markets, ranging from television stations to cable operators, as ; and TL Ventures. For more information about StarCite, or its technologies and services, please visit www.StarCite.com. American Express acts solely as sales agent for travel suppliers and is not liable for the actions or inactions of such suppliers. CST CST abbr. 1. Central Standard Time 2. convulsive shock treatment CST Central Standard Time Noun 1. # 1022318-10, TA# 002- Registered Iowa Travel Agency, NV# 2001-0126, ML#1192, Washington UBI UBI Universidade da Beira Interior (Portugal) UBI Unrelated Business Income UBI Unified Business Identifier UBI United Bank of India UBI UKW-Sprechfunkzeugnis für den Binnenschifffahrtsfunk # 600-469-694 |
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