Budget management and reconciliation
Revenue model benefits our clients
GCO has been a successful player on the conference market for more than 25 years. And yet, some seven years ago, we made a conscious decision to follow a business model that is most unusual in the European congress market, namely one that is based on full transparency. Our revenue model is based on charging an hourly management fee approved by the client beforehand to avoid surprises later on. Sometimes, those fees appear to be somewhat higher than elsewhere. However, this is more than offset by the overall costs. For instance, all costs with regard to third parties are passed on without mark-up. In other words: under no circumstances will GCO take commissions, kickbacks, etc., since we believe that our way is the only way to guarantee complete objectivity. And if given by third parties, they will be immediately passed on to the client in accordance with the 100% transparency model we work with.
Besides, we are convinced that life sciences enterprises miss out on significant amounts of VAT, because congress bureaus usually consider the VAT on third-party purchases as expenses and therefore fail to enter such VAT on the invoice separately. That is our conclusion, based on the fact that GCO has never received an RFP with the question of what to do about the VAT on purchases at third parties. Or rather, an RFP leaves no room for elaboration on this subject. The latter also goes for subjects such as crisis management. We mean matters like communication, tasks, authorities and responsibilities in the event of a calamity during the organisation of a conference.
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