Losing money

This can’t be happening to me!

You are a Meeting Professional and you get THE CALL.

It’s the thing that keeps you up at night and causes you stress – the variable that could go wrong that sometimes, in spite of your best efforts, does go wrong.

For those of you who have found out that one of your key suppliers or clients has gone out of business, ceased operations or been severely compromised because of a catastrophic event such as a hurricane, terrorist attack or earthquake, it’s the worst possible news.

Beyond physical safety issues, re-booking efforts and potential contractual disputes, there is the issue of THE MONEY. Where is it and how will you recover it?

If you are a vendor and are awaiting a large payment for a program that is close to operation, this can severely affect cash flow.

If you are a Meeting Planner, it is important to know that most vendors mix your deposits with other client deposits and with general company operating funds.

The Meetings Industry is largely unregulated and this is common business practice. When a bad situation happens your organisation’s funds can be put in harm’s way. You need to know where your money is being held at all times.

Source: www.meetingescrow.com

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