Why XYZ Org Needs to Implement a Strategic

Transcript:Why XYZ Org Needs to Implement a Strategic:
Why XYZ Org Needs to Implement a Strategic Meetings Management Programme (SMMP) Programme PPT Template developed in conjunction with Cvent’s Business Case Template Industry Statistics Meetings and events are a major spend category: Meeting spend accounts for 25 to 40% of the organisation’s annual travel spend or 1 to 3% of company revenues. It is estimated that 10 – 25% savings can be achieved through the implementation of a robust SMMP aided by state-of-the-art technology [INSERT APPLICABLE STATISTICS] Potential Impact to XYZ Org 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. Current Situation – Limited Visibility Into Meeting Activity Limited visibility results in: Inability to make quick decisions about meetings and events. High risk factors associated with meetings, such as: Global Duty of Care Attendee/traveler safety Inadequate insurance coverage necessary for certain meetings Unintended contractual risks. Ability to pivot quickly during crisis Limited ability to manage compliance with corporate purchasing policies or legal processes such as: Signature authority levels Master Service Agreements (MSAs) 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%.” 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 participant unavailability – Executives, speakers, other key attendees, etc In looking into meetings data, we found that __________ meetings were cancelled in the past year, resulting in the loss of __________. Current Situation – Lost Savings Opportunities Fragmented purchasing leads to: Lack of awareness of total meeting/event costs and inability to effectively manage event budgets. Inability to fully leverage spend or economies of scale with suppliers due to transparency and lack of critical usage and spend data. Inability to develop a preferred supplier programme with local hotels, hotel chains, Destination Management Companies, transportation companies and other frequently used suppliers. An inability to manage suppliers effectively due to the large volume of suppliers. Save 10-20% by using best practices in sourcing, processes and policy compliance - “Best Practices in SMM Strategic Sourcing,” Business Travel News, sponsored by Cvent. Current Situation