American Express Business Travel, a global industry leader in business travel and meetings management, and Maritz Travel, a leader in creating effective meetings, events and incentive travel programs, yesterday announced a preliminary agreement to launch MaXvantage, a strategic alliance to provide end-to-end strategic meetings management services that support a company's entire meeting, event and incentive travel portfolio.
In the face of heightened scrutiny into spending on corporate meetings and events, the alliance would leverage the combined strengths of American Express Business Travel and Maritz Travel by providing expense management capabilities, strategic sourcing expertise and exceptional participant experiences.
MaXvantage will offer clients an enhanced level of transparency, control and insight across the entire category of meetings, events and incentive travel. The alliance is subject to the execution of the final documentation which the parties expect to complete shortly.
"Against the backdrop of the current economic environment, managing corporate and incentive meetings has become more important than ever," said Hervé Sedky, vice president and general manager of Global Business Partnerships, Advisory Services and Corporate Meetings Solutions, American Express Business Travel.
"Companies are searching for ways to be more strategic and transparent in their meetings programs, including finding ways to quantify return on meetings investment and participant experience. MaXvantage will provide the tools and resources to help executives feel confident about investing in meetings, event and incentive travel programs."
"Executives know that meetings, events and incentive travel are critical components to executing their business strategy, but these activities have been under tremendous scrutiny since last fall. MaXvantage is designed to enable corporations to feel confident continuing their investment in these highly valued programs," said Christine Duffy, president and chief executive officer of Maritz Travel.
"The practices of strategic meetings management have brought about a convergence of corporate travel and meetings, events and incentive travel. This is the perfect time for American Express Business Travel and Maritz Travel to come together to provide an end-to-end solution."
American Express Business Travel and Maritz Travel plan for MaXvantage to be offered initially to North American clients under the umbrella of strategic meetings management, which includes centralized sourcing, meeting planning and data analysis and business insight.
For companies that rely upon meetings, events and incentive travel to achieve key objectives ranging from business development to increased productivity, MaXvantage will be designed to: manage the meetings process, negotiate cost-saving agreements and favorable contract terms and conditions with suppliers, and improve the participant experience by designing and implementing memorable meetings, events and incentive travel programs to ensure maximum return-on-investment.
For procurement professionals charged with responsibly managing costs and mitigating risk, MaXvantage will be designed to: develop transparent, company-appropriate spending policies that will enable increased accountability while helping companies consistently apply processes to control costs when planning meetings.
MaXvantage will also track, measure and benchmark purchasing behavior to ensure maximum policy effectiveness over time.
For participants, MaXvantage will be designed to: help companies create and execute exciting, engaging and compelling meetings and events that deliver rich, rewarding and valuable experiences for all participants, from customers and prospects to partners and colleagues.
"Meetings are a crucial element to solidifying and forming new relationships, sharing best practices and ensuring industries are forging ahead," said Roger Dow, president and chief executive officer, U.S. Travel Association.
"As the global economy emerges from the grip of the downturn, the reinvestment in meetings and incentive travel is going to play a catalytic role in jumpstarting spending and solidifying a recovery. The combination of these two world class organizations demonstrates the growing importance of strategic meetings management not only to the meetings industry, but as a critical part of a well-managed business."
For more information, visit American Express Business Travel or Maritz Travel
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