Recognising value in your finance teams

clarification on live events
Clarification on live events
March 3, 2021
Outdoor events
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March 15, 2021
Sarah Orten

In this unprecedented and turbulent time, teams have been pushed to the limit to minimise disruption. None more so than Finance Teams as Venues and Events International have recently found. And that’s why they’re sharing the importance in recognising value in your finance teams.

With hundreds of meetings and events cancelled or postponed during 2020 and continuing into 2021, agencies have been working with venues to minimise cancellations fees on behalf of Clients and work for stronger future together.

Nicola Reynolds, Finance Director at Venues and Events International comments on her team of Number Crunchers: “Finance teams can often go unnoticed. Behind the scenes, crunching numbers to make the books balance, but this year our finance team has excelled. The evolving role of the financial professional stretches beyond traditional tasks like transaction processing and financial reporting. The number of events that have either been cancelled or postponed that has required movement in deposits. Financial management has demonstrated agility and scalability of the team and their individual roles.

How finance teams add value

Anita Lowe, CEO identifies how Finance teams add value to the strategic partnership with Clients: “We believe that ensuring you have the best financial team—with the right mindset—is essential in delivering exceptional value to our Clients. As strategic partners we play an instrumental role not only in guidance in delivering safe meetings, but the financial management.

“We are seeing an appetite for live events to return. But there is nervousness around venue flexibility after contracts are signed as there’s still uncertainty around future government guidelines. This week we received a fantastic enquiry for a one-day conference in December for 800-1,500 delegates. We’re working on the brief but on the reassurance that before committing with any venues, their contract terms are flexible. This is becoming more common now within contract negotiations that we’re supporting Clients with, to ensure the flexibility is there. It gives Clients the reassurance to go ahead and book, knowing they can postpone or cancel should the need.”

“Working in collaboration with our hotel partners, we have been able to successfully negotiate contractual terms. Our proactive Finance team ensure deposits have either been returned for cancelled events, or moved for postponed events.”

Growth in our finance team

Following on from the announcement of Michaela Isted returning to the events team, and in light of increased business projections, Venues and Events International are delighted to also be strengthening their finance department by welcoming Sarah Orten as a Finance Assistant: “I am really looking forward to joining the team at Venues and Events International and excited to be part of such a vibrant and passionate Company. As the industry prepares for a re-start, we’re all embarking on a new journey, and I couldn’t think of a Company I would rather be on that journey with.”

Anita concludes: “As we continue to determine the future of meetings and events, we will continue to play an imperative role as a strategic partner to our Clients to provide the financial management of our events.”