Strategic Meetings Management Program (SMMP)
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Strategic Meetings Management Program (SMMP) Program Implementation PPT Template developed in conjunction with Cvents Business Case Template Current Situation - Inefficiencies Overlapping and redundant workflows in the meeting and events
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01
Strategic Meetings Management Program (SMMP) Program Implementation PPT Template developed in conjunction with Cvent’s Business Case Template<br>
02
Current Situation - Inefficiencies Overlapping and redundant workflows in the meeting and events category
Lack of SMM processes in place leads to multiple resources performing the same activities (e.g. calling hotels to check availability and rates, creating meeting budgets and templates, creating registration websites and/or surveys from scratch, etc.)
Lack of automation or multiple sources of automation used around the organization (e.g. Access, Excel, Survey Monkey, etc.)
According to research by Aberdeen, organizations can achieve the following through SMMP implementation:
55% savings in productivity using dashboards and reports
43% savings in productivity for budgeting current and future events
32% savings in productivity for travel management and lodging<br>
Lack of SMM processes in place leads to multiple resources performing the same activities (e.g. calling hotels to check availability and rates, creating meeting budgets and templates, creating registration websites and/or surveys from scratch, etc.)
Lack of automation or multiple sources of automation used around the organization (e.g. Access, Excel, Survey Monkey, etc.)
According to research by Aberdeen, organizations can achieve the following through SMMP implementation:
55% savings in productivity using dashboards and reports
43% savings in productivity for budgeting current and future events
32% savings in productivity for travel management and lodging<br>
03
Current Situation – Lost Savings Opportunities Fragmented purchasing leads to:
Inability to develop a preferred supplier program with local hotels, hotel chains, Destination Management Companies, transportation companies and other frequently used suppliers.
Inability to fully leverage spend with suppliers due to transparency and lack of critical usage and spend data.
An inability to manage suppliers effectively due to the large volume of suppliers.
According to “Best Practices in SMM Strategic Sourcing,” a White Paper by Business Travel News (sponsored by Cvent) in 2011, found that “Corporations can achieve an average of 10 to 20% savings when they implement best practices in sourcing, processes and policy compliance.”<br>
Inability to develop a preferred supplier program with local hotels, hotel chains, Destination Management Companies, transportation companies and other frequently used suppliers.
Inability to fully leverage spend with suppliers due to transparency and lack of critical usage and spend data.
An inability to manage suppliers effectively due to the large volume of suppliers.
According to “Best Practices in SMM Strategic Sourcing,” a White Paper by Business Travel News (sponsored by Cvent) in 2011, found that “Corporations can achieve an average of 10 to 20% savings when they implement best practices in sourcing, processes and policy compliance.”<br>
04
Current Situation – Limited Visibility Into Meeting Activity Limited visibility results in:
High risk factors associated with meetings, such as:
Global Duty of Care;
Attendee/traveler safety (not everyone travels to meetings by air);
Inadequate insurance coverage necessary for certain meetings; and
Unintended contractual risks.
Limited ability to manage compliance with corporate purchasing policies or legal processes such as:
Signature authority levels; and
Meetings contracted without the appropriate approvals
According to research by Aberdeen, “The gain of visibility into the strategic meetings space will reduce cost and improve savings by over 50%.”<br>
High risk factors associated with meetings, such as:
Global Duty of Care;
Attendee/traveler safety (not everyone travels to meetings by air);
Inadequate insurance coverage necessary for certain meetings; and
Unintended contractual risks.
Limited ability to manage compliance with corporate purchasing policies or legal processes such as:
Signature authority levels; and
Meetings contracted without the appropriate approvals
According to research by Aberdeen, “The gain of visibility into the strategic meetings space will reduce cost and improve savings by over 50%.”<br>
05
Current Situation – Limited Visibility Into Meeting Activity (cont’d) Unawareness into:
Cancelled space credits available for re-use;
Other penalty-related funds available for meetings;
Meetings that overlap in the same location resulting in lost opportunity to negotiate based on full financial impact; and
Cancellation of meetings due to unawareness of real-time Executive unavailability.
In looking into meetings data, we found that __________ meetings were cancelled in the past year, resulting in the loss of __________.<br>
Cancelled space credits available for re-use;
Other penalty-related funds available for meetings;
Meetings that overlap in the same location resulting in lost opportunity to negotiate based on full financial impact; and
Cancellation of meetings due to unawareness of real-time Executive unavailability.
In looking into meetings data, we found that __________ meetings were cancelled in the past year, resulting in the loss of __________.<br>
06
Objectives in Implementing an SMMP Efficiency gains impacting:
Cost savings;
Optimization of resources; and
Ability to re-allocate some resources (if needed).
Increased visibility and the creation of transparency in the meetings/event category:
Reduction in regulatory and legal risk to the organization.
Achieving significant cost savings and cost avoidance, freeing up overall, organizational meeting spend.<br>
Cost savings;
Optimization of resources; and
Ability to re-allocate some resources (if needed).
Increased visibility and the creation of transparency in the meetings/event category:
Reduction in regulatory and legal risk to the organization.
Achieving significant cost savings and cost avoidance, freeing up overall, organizational meeting spend.<br>
07
Objectives in Implementing an SMMP cont’d Increased compliance with corporate policies, reducing exposure in such areas as:
Regulatory requirements;
SOX compliance;
Non-compliance to brand standards;
Protection of confidential information; and
Prevention of corporate espionage.
Mitigation of risks associated with meetings, such as
Safety and security;
Effective global organizational crisis planning and management; and
Insurance protection and meeting/event policies such as alcohol service, inappropriate venues and risky activities (parasailing, race car driving, etc.).<br>
Regulatory requirements;
SOX compliance;
Non-compliance to brand standards;
Protection of confidential information; and
Prevention of corporate espionage.
Mitigation of risks associated with meetings, such as
Safety and security;
Effective global organizational crisis planning and management; and
Insurance protection and meeting/event policies such as alcohol service, inappropriate venues and risky activities (parasailing, race car driving, etc.).<br>
08
Risks to the Organization Business operations and continuity
Absence of the ability to create and manage crises associated with meetings and events
Reputation of the organization
Unmanaged or mismanaged meetings and events
Branding and marketplace consistency
Company logos and graphics distortion
Protection of confidential and proprietary information.<br>
Absence of the ability to create and manage crises associated with meetings and events
Reputation of the organization
Unmanaged or mismanaged meetings and events
Branding and marketplace consistency
Company logos and graphics distortion
Protection of confidential and proprietary information.<br>
09
Risks to the Organization cont’d Financial
Lost savings and unmanaged credits with suppliers.
Compliance with legal and regulatory obligations
Sox Compliance
Sunshine Act (for Life Sciences)
Mandatory accurate reporting requirements
Obligation of every organization to ensure the safety and security of its travelers and meeting attendees<br>
Lost savings and unmanaged credits with suppliers.
Compliance with legal and regulatory obligations
Sox Compliance
Sunshine Act (for Life Sciences)
Mandatory accurate reporting requirements
Obligation of every organization to ensure the safety and security of its travelers and meeting attendees<br>
10
Risks Associated with Inaction Continued inefficiencies and misallocated or even wasted resources.
Lack of necessary financial controls in the meeting/event category.
Inability to scale in order to manage increased volume or peak periods of meetings and events.
Inability to make decisions related to meetings and events based on sound business intelligence and data due to incomplete or the absence of reporting.
Exposure to losses due to unauthorized or inexperienced staff negotiating and/or signing meeting-related contracts.
Inability to quickly identify the location of all meeting attendees in the event of a crisis.<br>
Lack of necessary financial controls in the meeting/event category.
Inability to scale in order to manage increased volume or peak periods of meetings and events.
Inability to make decisions related to meetings and events based on sound business intelligence and data due to incomplete or the absence of reporting.
Exposure to losses due to unauthorized or inexperienced staff negotiating and/or signing meeting-related contracts.
Inability to quickly identify the location of all meeting attendees in the event of a crisis.<br>
11
Proposed Strategy Deploy state-of-the art meetings management technology
According to a study by Carlson Wagonlit Travel Management (2010), “Through the deployment of a technology solution, organizations are:
70% more likely to hold real-time visibility through an enterprise-wide calendar
76% more likely to hold real-time visibility into overall and individual meetings spend
76% more likely to hold real-time visibility into Strategic Meetings Management data
Meetings management technology users can also expect:
A 73% higher rate of cost savings
Nearly 40% higher rate of compliance to corporate policies and guidelines related to meetings and events
35% higher frequency of events meeting or exceeding goals and objectives
Nearly 30% higher frequency of meetings and events executed within or below budget<br>
According to a study by Carlson Wagonlit Travel Management (2010), “Through the deployment of a technology solution, organizations are:
70% more likely to hold real-time visibility through an enterprise-wide calendar
76% more likely to hold real-time visibility into overall and individual meetings spend
76% more likely to hold real-time visibility into Strategic Meetings Management data
Meetings management technology users can also expect:
A 73% higher rate of cost savings
Nearly 40% higher rate of compliance to corporate policies and guidelines related to meetings and events
35% higher frequency of events meeting or exceeding goals and objectives
Nearly 30% higher frequency of meetings and events executed within or below budget<br>
12
Proposed Strategy cont’d Develop a communications plan to introduce SMM throughout the organization to include:
Stakeholder meetings
Lunch & Learn sessions
Email communications
Webinars by stakeholder group (occasional users, stakeholders, executives, etc.)
Announcements on Company intranet landing page
Endorsements from executives and/or internal clients<br>
Stakeholder meetings
Lunch & Learn sessions
Email communications
Webinars by stakeholder group (occasional users, stakeholders, executives, etc.)
Announcements on Company intranet landing page
Endorsements from executives and/or internal clients<br>
13
Proposed Strategy cont’d Centralize hotel sourcing and contracting to subject matter experts
According to a 2013 survey by the Global Business Travel Association, some of the most successful parts of an SMM program include:
Having a policy in place, centralized sourcing/contracting services
A savings average of 11.2% off first quote, even after nine years of SMM
Engage stakeholder input
Develop a cross functional team and/or advisory council, including impacted stakeholders and potential champions for input and practical “Next Steps to
Increase engagement
Optimize buy-in to the organization’s SMMP<br>
According to a 2013 survey by the Global Business Travel Association, some of the most successful parts of an SMM program include:
Having a policy in place, centralized sourcing/contracting services
A savings average of 11.2% off first quote, even after nine years of SMM
Engage stakeholder input
Develop a cross functional team and/or advisory council, including impacted stakeholders and potential champions for input and practical “Next Steps to
Increase engagement
Optimize buy-in to the organization’s SMMP<br>
14
Justification and Impacts Cvent’s ROI Calculator shows a:
___ % return on investment in meetings management technology in Year 1;
___% ROI in Year 2; and
___% ROI in Year 3.<br>
___ % return on investment in meetings management technology in Year 1;
___% ROI in Year 2; and
___% ROI in Year 3.<br>
15
INSERT CVENT’S ROI CALCULATOR RESULTS HERE Click here to access the ROI Calculator<br>
16
Justification and Impacts Meetings and events are a major spend category:
It is estimated that 10 – 25% savings can be achieved through the implementation of a robust SMMP aided by state-of-the-art technology; and
Meeting spend accounts for 25 to 40% of the organization’s annual travel spend or 1 to 3% of company revenues.
[INSERT APPLICABLE STATISTICS]<br>
It is estimated that 10 – 25% savings can be achieved through the implementation of a robust SMMP aided by state-of-the-art technology; and
Meeting spend accounts for 25 to 40% of the organization’s annual travel spend or 1 to 3% of company revenues.
[INSERT APPLICABLE STATISTICS]<br>
17
Expected Results Ability to reallocate resources (if applicable and identify resource allocation and potential savings)
Cost savings
Year 1 = $______;
Year 2 = $_____;
Year 3 = $_____; and
$_____ estimated cost savings over initial three years
Automated approval process
Aids in ensuring a business objective is tied to meetings;
Ensures a budget has been establish and approved; and
Reduces the volume of “renegade” meetings activity.
Meetings management technology users experience a nearly 40% higher rate of compliance to corporate policies and guidelines related to meetings and events.<br>
Cost savings
Year 1 = $______;
Year 2 = $_____;
Year 3 = $_____; and
$_____ estimated cost savings over initial three years
Automated approval process
Aids in ensuring a business objective is tied to meetings;
Ensures a budget has been establish and approved; and
Reduces the volume of “renegade” meetings activity.
Meetings management technology users experience a nearly 40% higher rate of compliance to corporate policies and guidelines related to meetings and events.<br>
18
Expected Results cont’d Increased transparency and visibility into meetings taking place and spend elements.
Industry data shows that SMM and meetings
management technology users are:
70% more likely to hold real-time visibility through an enterprise-wide calendar
76% more likely to hold real-time visibility into overall and individual meetings spend
76% more likely to hold real-time visibility into Strategic Meetings Management data<br>
Industry data shows that SMM and meetings
management technology users are:
70% more likely to hold real-time visibility through an enterprise-wide calendar
76% more likely to hold real-time visibility into overall and individual meetings spend
76% more likely to hold real-time visibility into Strategic Meetings Management data<br>
19
Expected Results cont’d Robust reporting capabilities
Key Indicator Reports and Dashboards (available through Cvent’s technology platform) provide crucial meetings-related data. A few examples are:
Total number of meetings held annually;
Average spend per meeting by meeting owner, division, business unit, organization;
Suppliers used and spend per supplier;
Sourcing/contracting savings and value of concessions negotiated;
Average lead time impact on cost; and
Location/destination information.
Scalability
Meetings management technology and outsourcing of some meeting support activity;
Enables control over demand management and peak periods of volume<br>
Key Indicator Reports and Dashboards (available through Cvent’s technology platform) provide crucial meetings-related data. A few examples are:
Total number of meetings held annually;
Average spend per meeting by meeting owner, division, business unit, organization;
Suppliers used and spend per supplier;
Sourcing/contracting savings and value of concessions negotiated;
Average lead time impact on cost; and
Location/destination information.
Scalability
Meetings management technology and outsourcing of some meeting support activity;
Enables control over demand management and peak periods of volume<br>
20
SMMP Implementation Rollout Strategy Attain Executive endorsement to strengthen rollout, messaging and ultimate success
Develop an implementation timeline with agreed-upon milestones
Update executives regularly on progress
Implement state-of-the-art meetings technology
Execute on communications plan
Provide necessary training for Meeting Approvers and impacted stakeholders
Cvent Communication Plan Template Beta test with a smaller group(s) to identify and resolve gaps or issues<br>
Develop an implementation timeline with agreed-upon milestones
Update executives regularly on progress
Implement state-of-the-art meetings technology
Execute on communications plan
Provide necessary training for Meeting Approvers and impacted stakeholders
Cvent Communication Plan Template Beta test with a smaller group(s) to identify and resolve gaps or issues<br>
21
SMMP Implementation Rollout Strategy cont’d Automate the approval process
Register all meetings through meetings management technology platform:
Crucial meetings data can be obtained, shared and analyzed
Calendar meetings
Provides “at-a-glance” view of meetings taking place across the organization
Centralize hotel sourcing/contracting
Developed process for requesting sourcing support:
Developed process for providing availability reports:
Developed process for site and venue selection:
Developed process for addendum inclusion to ensure corporate compliance: and
Developed process for contracting. Beta test with a smaller group(s) to identify and resolve gaps or issues<br>
Register all meetings through meetings management technology platform:
Crucial meetings data can be obtained, shared and analyzed
Calendar meetings
Provides “at-a-glance” view of meetings taking place across the organization
Centralize hotel sourcing/contracting
Developed process for requesting sourcing support:
Developed process for providing availability reports:
Developed process for site and venue selection:
Developed process for addendum inclusion to ensure corporate compliance: and
Developed process for contracting. Beta test with a smaller group(s) to identify and resolve gaps or issues<br>
22
Technology Plan Access Meetings Management Simplified for additional tips<br>