strategic meeting management presentation 2009
DESCRIPTION
Why your company should implement a Strategic Meetings Management Program.TRANSCRIPT
Strategic Meeting Management
Programs
Meeting Planning
Made Simple
Today’s Agenda
• What is Strategic Meetings Management Programs?
• Why Should Organizations be Interested? What are the benefits?
• Implementation of a Strategic Meeting Management Program
Knock, Knock
• The travel department
• The procurement department
• Your CFO• More accountability• Sarbanes-Oxley
Who’s there?
The Problem
• No monitoring or visibility into meeting spend (unless there is a problem!)
• Decentralized meetings management process
• Data is held in inefficient, separate silos
• Greater expectations• Time-consuming process
Strategic Meetings Management: Definitions
Strategic Meetings Management programs bring accountability, consolidation, centralization and cost-consciousness to the meetings management process.
“SMM concentrates on meeting and event-related processes, spend, volumes, standards and suppliers to achieve quantitative cost-savings, superior service and effective risk mitigation.”
“SMM concentrates on meeting and event-related processes, spend, volumes, standards and suppliers to achieve quantitative cost-savings, superior service and effective risk mitigation.”
NBTA Groups and Meetings Committee
AKA: “Meeting Consolidation”
The consolidation of meeting and/or event planning into a centralized, organization-wide, process.
The Objectives of SMM
• Gain visibility into the meetings process and spend
• Manage meeting costs• Consolidate purchases
for meeting suppliers• Streamline the
meetings process• Reduce number of
meetings, suppliers, etc.
• Risk Mitigation
Where did SMM Start? In Travel
Travel Department
THEN NOW
Meeting Planning Department
Where did SMM Start? In 3 Industries
Pharmaceutical
Financial
Technology
THEN NOW
Companies of all kinds
Sharing Some Numbers – Making the Case
The missing pieces of a larger puzzle
80% of meetings are usually not
tracked and managed
The Hidden Spend
60% of annual air volume
or
0.5 % – 1% of annual sales
volume
Average Company Meeting Spend
Estimated
Organizations can save up to 20% (estimated) of meeting related direct cost
Meetings Management: Savings Analysis
Aberdeen Group, 2008
Key Reasons to Implement a Strategic Meetings Management Program
• Greater Visibility in Meetings• View all meeting and event activities, types and purposes,
expenditures and suppliers
• View Spend by vendor, meeting, department, etc.
• Measure savings and ROI against established targets
• Minimize Risk Exposure• Establishing policies and monitoring compliance to reduce legal,
regulatory, financial and operational risks
• Branding guidelines consistently applied
• Better emergency preparedness – knowing where and when meetings are occurring and tracking attendee welfare and safety. Preparation for crisis management situations.
Reasons Continued…
• Improved Efficiency and Quality– Optimize use of professional planners to ensure quality among all
meetings and events– Use automation to streamline processes, enhance efficiency and
maximize productivity.– Consistency in organization brand and service to attendees
• Increased Savings– Consolidate meetings/group business to leverage and build preferred
supplier networks– Effective supplier negotiations, using standard contracting practices
and cancellation/attrition provisions.– Reduce time spent on meeting planning and site creation
SMMP Foundation
There’s not just one way…does not have to be all or nothing strategy: Small businesses can adopt
SMMP piecemeal
There’s not just one way…does not have to be all or nothing strategy: Small businesses can adopt
SMMP piecemeal
Implementation of a Strategic Meeting Management Program
Key Components
ApprovalPrimary purpose is to look at each opportunity,
impact on costs and other issues on organization before commitments made and contracts signed. Minimize/eliminate rogue events booked on behalf of company
RegistrationGain knowledge of event in advance to measure
support of company / department objectives. Require approval and registration in advance of the start of logistical planning. Acquire tracking number so all through process knows approval has been made.
Components continued…
Sourcing/ProcurementHotel/Destination selection, negotiation and contracting processrisk management
Acquisition / Purchasing
Limit the methods for meeting related expenses
Increase the organizations ability to scrutinize expenditures associated with meetings.
Planning / ExecutionImplement technologies to streamline planning and execution
Data Analysis / ReportingCollection of meeting datato compare with planned outcome performance. Formulate possible performance metrics to compare against in future such as F&B budget, cost per attendee, etc.
Technology!
Bringing it all together
Getting Started
• Define– What is the opportunity to the organization– Develop stake holder list/who would be impacted– Find Executive Sponsor
• Measure– Gain knowledge into current state of meeting spend through review of invoices, credit card
data and other financial information in purchasing/finance departments– Survey meeting planners and other stakeholders to learn their present processes / current
status.• Analyze
– Determine cost of implementing SMMP versus benefits/opportunity• Build
– Engage stakeholders (purchasing, procurement, travel, etc)– Prepare business case/road map to be followed– Write policy / program
• Implement– Educate and train – Support – Monitor and maintain
Additional Thoughts
• Decision process to implement typically takes 12-18 months
• Complete adoption within an organization may take 3- 5 years (change does not come easy!)
• SMMP is not a “one size fits all” program…every organization has different needs and may need certain components more so than others
• For immediate savings – start with centralizing sourcing
• SMMP certification coming soon.• NBTA is excellent source for information
