Have you ever felt out of control when organizing an event? This is very common in the events sector, where costs can rise rapidly. However, with Lab Event, you can control your margin more effectively.
How can Lab Event help you control your margins?
Lab Event is an event management tool that lets you track all your expenses and income in real time. You can enter your purchase price at any level, whether at item level or directly in the quotation..
When you create a quote, you can add each item you plan to use for the event. This can include items such as hall hire, catering, decoration, etc. For each item, you can indicate the purchase price and the selling price.
What’s more, Lab Event also lets you track indirect costs such as travel expenses, personnel costs, marketing costs and so on. You can add these indirect costs to your quotation to ensure that you charge enough to cover them. How? Thanks to the “zero price line” feature.
This allows you to record a purchase with a zero sales price and hide the line in customer view. But this line is visible to you and allows you to adjust the margin in real time.
Tired of making mistakes in your budgets, estimates and invoices? Click here to discover our Solution
As a reminder for non-financiers, the sales price is the amount you charge your customer, while the purchase price is the amount you pay to obtain the item (from a supplier for example, but this can also be the internal cost). Thanks to this feature, you can immediately see the margin you’re making on each item and each quotation line.
Using Lab Event, you can also create detailed reports on the costs of each event, enabling you to see where you can save money in the future. You also have an overview of margins by major family, enabling you to see where you earn the most (or the least) and adjust your quotation accordingly (by negotiating more effectively with suppliers, for example).
Why use Lab Event to control your margins?
Controlling your margins is essential to the success of your event business. Using Lab Event, you can get a real-time overview of your expenses and revenues, enabling you to make informed decisions about how to manage your margin.
In addition, the ability to track indirect costs and add them to your quote is an effective way of ensuring that you charge enough to cover all event-related costs.
Finally, detailed cost reports for each event allow you to see where you can save money in the future and optimize your margins.
In conclusion, if you want to control your margins when organizing events, Lab Event is an essential tool to help you do just that. With its expense tracking and detailed reporting functionality, you can make informed decisions on how to manage your margin and maximize your profits.
Take your event management to the next level!
There are a plethora of tools and software available to help us work more efficiently. However, this can quickly become a nightmare when we have to search for information on several different tools (word, excel powerpoint, task management tool…). This can take a lot of time and energy, and can even be discouraging. That’s where…
Communicating smoothly and harmoniously with your internal teams not only makes for better collaboration, but also guarantees more successful events for your customers. However, communication between sales and production teams can often be a major challenge. In this article, we delve into the heart of this issue and explore how Lab Event is positioning itself…
The world of events, rich in creativity and opportunity, can sometimes come up against challenges such as repetitive tasks and the need for personalization. In this article, we explain how automation and the use of presentation, quotation and e-mail templates can revolutionize your approach, freeing up time and improving efficiency. Automation: a breath of fresh…
As an event organizer, you’re no stranger to the challenges of using complex, outdated software that’s ill-suited to your business. However, there is a solution to make your life easier: Lab Event. With this intuitive, user-friendly platform, specially designed to meet your needs as an event organizer, you can finally benefit from a modern, ergonomic…
Effective communication is the key to maintaining productivity and growth. However, it’s not for everyone, and can even be a tedious task. Whether it’s writing e-mails to ask customers for availability, or requesting quotes from your suppliers, these tasks can quickly monopolize your time. That’s why Lab Event software is THE ideal solution for streamlining…
In the event industry, every interaction with a customer is an opportunity to create a memorable experience. Your customers expect you to meet their needs and expectations, which can sometimes involve complex interactions and information. Keeping track of customer relations can quickly become a real challenge. That’s where Lab Event comes in, as a CRM…
In the ever-changing events industry, where every minute counts, optimizing your processes is crucial to your company’s growth. It’s important to set up an infrastructure that supports your expansion. In this article, you’ll discover how Lab Event, a tailor-made CRM solution, offers significant advantages in terms of saving time, effectively managing your growing sales team,…
The dynamic world of events offers a wealth of opportunities and creativity, but is not without its share of challenges. Managing an event, whether it’s a wedding, a corporate conference or a lively festival, involves a complexity that is often underestimated. Indeed, the collaborative nature of these projects involves customers with varied expectations and suppliers…
In the hustle and bustle of the event industry, where every moment counts and the smallest details have a huge impact, it’s not uncommon for crucial deadlines to slip through your fingers. Vital elements such as drawing up a room list, confirming airline tickets, etc. can sometimes be overlooked, with potentially disastrous consequences for the…
In the event industry, loss of information can be a major problem. When an employee leaves a company, he or she takes with them valuable knowledge accumulated over time. This loss of information can lead to gaps in business continuity, delays, errors and reduced productivity. To meet this challenge, it is essential to understand the…
In the events sector, project management can be a complex and stressful task for project managers. Lab Event offers an innovative solution to facilitate the coordination and follow-up of event projects, thanks to its platform entirely dedicated to event organization. Find out how this software can help reduce your teams’ stress by centralizing all essential…
In today’s fast-paced event industry, seamlessly integrating newcomers is an essential piece of the success puzzle. However, dispersed processes often get in the way of this crucial transition. In this article, we explore how Lab Event, as a tailored CRM solution, can revolutionize your approach by eliminating scattered processes and simplifying the onboarding of new…
The events business is often synonymous with stress, tight deadlines and last-minute unforeseen events. Project managers are often on the front line when it comes to managing these complex situations and ensuring the success of their customers’ events.. But how can we provide them with the best tools to help them manage their stress and…
As an event organizer, you’re no stranger to the challenges of using complex, outdated software that’s ill-suited to your business. However, there is a solution to make your life easier: Lab Event. With this intuitive, user-friendly platform, specially designed to meet your needs as an event organizer, you can finally benefit from a modern, ergonomic…
In the event industry, productivity and efficiency are essential to success. However, it can be frustrating to find that there are no digital tools specifically designed to meet the needs of your business. Luckily, Lab Event is here for you! Our tailor-made solution is specially developed for event professionals, offering you a complete set of…
💼The challenge of multiple rewriting When you have to enter or copy the same information in different systems, documents or applications, the risk of errors increases considerably. Typos, omissions or inconsistencies can have a negative impact on the quality of your work, customer satisfaction and your team’s overall productivity. For example: you write the customer’s…
The loss of information when an employee leaves a company can be a major challenge. Not only can this lead to gaps in business continuity, it can also cause delays, errors and lower productivity. In this article, we’ll look at the reasons why information loss is a common problem, as well as practical solutions for…
