Ray Woolridge, who was travel procurement manager at BSkyB at the time of the appointment said: "We felt that with proper management we could save up to 10% of our meetings spend, representing between £300,000- £500,000 per year."
Icor director Clive Gould said that proper management of hotel and meetings spend could save companies as much as 25%.
"In a company with a travel-management system in place, the potential saving is around 12%," said Gould. "But in those companies without a system, the savings could be much greater."
Gould added that the demand for managing spend is predominantly in the smaller meetings sector at the moment.
Icor was launched in January as the procurement arm of hotel and conference-management firm BSI. The company aims to have between ten and 12 clients - with a minimum hotel spend of £1m or more - by the end of the year.