Hello hsmith825 and thank you for your question.
The study below contains the information you require.
(I was amazed to read that IBM saves US$4 million per MONTH using Web
Here is the study:
"Meetings in America
A study of trends, costs, and attitudes toward business travel and
teleconferencing, and their impact on productivity"
"Summary of Findings
MCI Conferencing commissioned the Meetings in America study to gain a
better understanding of meeting trends and the needs of its customers.
Among the findings:
Busy professionals attend over 60 meetings each month. However, most
say they cannot attend all meetings to which they are invited due to
the tremendous demands on their time.
A five-person meeting conducted in-person (involving plane travel for
four of the attendees) is over seven times more expensive than a
meeting conducted by audioconference, and nearly three times as
expensive as a videoconference:
In-person meeting $5,197.50
Audioconference $ 689.24
The average time participants spend to prepare for, travel to, and
attend this in-person meeting involving five people is 53 hours and 24
minutes. This is more than three times the time involved in an audio
or video conference meeting.
America?s largest companies should look to smaller, more
cost-conscious firms for lessons on travel cost management. Looking at
the average costs for all types of meetings attended, those employed
by smaller companies (firms not included in Fortune?s list of the
2,000 largest companies) tend to spend less per meeting. Fewer plane
trips for employees of smaller companies contribute to the overall
lower costs for all types of meetings.
Employed By: Average Cost Per Meeting:
Fortune 500 $527
Fortune 500-2000 $547
In addition to the monetary costs incurred, business travel has a
strong impact on employee stress and well-being. Nearly three-quarters
(73%) of busy professionals say that it is stressful to spend time
away from family, and many (64%) are concerned about other work
responsibilities that pile up at the office during their absence.
An overwhelming majority of meeting attendees (92%) value meetings as
providing an opportunity to contribute, suggesting that successful
meetings may be a contributing factor to employee job satisfaction.
Preparation for meetings is a critical component of productivity. The
average amount of time spent on preparation for a meeting
characterized as "highly productive" is nearly one hour, which is
twice as long as the preparation time for a meeting described as "not
very or not at all" productive.
Nearly all meeting attendees (91%) admit to daydreaming during
meetings, while over one-third (39%) have dozed!
Most busy professionals (89%) believe that technology will make
meetings easier in the future"
For the full study see:
"IBM saves over US$4 million in travel expenses
per month using Lotus Instant Messaging and
Web Conferencing to conduct online meetings."
"According to a survey conducted by WorldCom, Meetings in America, the
average domestic business trip has a hard cost of $1,334 per meeting
participant. This is a sum of the cash outlay for airfare, hotel,
meals, rental cars, taxis, etc. averaged over a large number of
business trips. Related soft costs are not reflected in this number.
Soft costs can be calculated by taking the average traveler's hourly
salary, adding 25-35% for benefits and overhead, and then multiplying
by the number of hours of productivity lost in a round trip. For many
individuals, the WorldCom study showed 15-20 hours of lost
productivity per trip, leading to an additional hidden or soft cost of
approximately $700-1000 per business traveler."
Thank you for your question, and if you need any clarification of my
answer, do not hesitate to ask prior to rating my answer.
Very best regards
Search strategy included:
"web conferencing" savings "average of"