2 Defining SMMP What it is? Strategic Meetings Management (SMM) is a disciplined approach to managing enterprise wide meeting and event activities, processes, suppliers and data in order to achieve measurable business objectives that align with the organizations’ strategic goals / vision, and deliver value in the form of quantitative savings, risk mitigation, and service quality.What it is Not?Meeting ConsolidationOne Size Fits AllMeeting Execution
4 Industry Overview: Market Sizing The large and predominately unmanaged corporate meetings market represents an opportunity for our customers to drive savings while reducing riskHow big IS the Meetings Industry?Corporate Meetings Market$ 73.4 B$158.1BTotal Market Size- Leisure & Associations$ 84.7B4
5 A Convergence of Disciplines TravelMeetingsProcurementSurvey says . . .95% of respondents to survey have been involved in the strategy, blah blah blah or will be in the near future.
6 and work together toward common strategic goals? Reality 101: Goals at OddsTravel ManagementDrive business to preferred partners repeatedlyTravel is travel – even for meetingsProvide rolled up data/reportingLack of meetings industry knowledgeMeeting ManagementUnique/creative meetingsSubjectivity is rewardedHigh level of ownershipPreviously not engaged in enterprise solutionsLegacy successHow do we bridge the gapand work together towardcommon strategic goals?ProcurementStandardize/homogenizeReduce risk/costMeetings as a commodityLack of meetings industry knowledge
7 So…Why SMMP? Data Average company meeting spend equates to .50 to 1 percent of annual gross sales or…% of Total T&E Spend or…60% - 120% of Corporate Air Volume or…2 - 3% of RevenueCost Savings and AvoidanceProcess Efficiencies / Reduce RedundancyRisk ManagementContract Terms & ConditionsSarbanes-Oxley (SOX) ComplianceCrisis Management Situations
11 Building a SMMP Design Your SMMP Approach…what components? Align Objectives to ComponentsDetermine Service ConfigurationOutsource vs. Internal or ComboPrioritize ComponentsCreate Implementation PlanCommunication PlanTrain Program Users
13 Components of a SMMP Policy Why? Meeting Definition Meeting Process and ToolsApproval Process / LevelsSourcing and ContractsFinancial GuidelinesPreferred SuppliersKey Contact InformationGeneral InstructionsWhy?Corporate DirectionComplianceControlEfficiencies
14 Components a SMMP Registration of Meeting/Event Registration helps supply consolidated, consistent and auditable dataDetermine what data you need to collect and what you are going to do with itTechnology can assist in this processOptions range from spreadsheets to robust technology solutionsCost/benefit decision
15 Components of a SMMP Approval Determine who can approve: Meetings ExceptionsChangesLevelsNeed to collect and communicateDrives complianceEnables consistencyProduces better buying and business decisions
16 Components of a SMMP Sourcing / Procurement Purchase required services at best pricingSupports corporate objectivesPreferred supplier usageRisk mitigationStandardized contractual requirementsSafety and securitySavings
17 Components of a SMMP Planning / Execution Logistical requirements - In-sourced, out-sourced, or mixCreates consistencyClearly define roles and responsibilitiesSet expectations
18 Components of a SMMP Payment / Expense Reconciliation How to pay for and acquire meeting related services and productsLink planners with tools and resourcesPayment ProcessesOnline travel reservationsEnsure adequate controls are in placeData captureAuditingReportingReconciliation
19 Components of a SMMP Data Analysis / Reporting Determine what data needs to be collected, reported, and trackedWho is using the data and what business decisions are being made?Is the right data being collected and is it being communicated?Apply data to drive decisionsReconciliation or meeting budgetsSupplier/vendor management
20 Technology: Enabler to Success Mature, consolidated marketplaceAutomates processesCentralizes dataSupports/enables pre approvalReporting capabilities from the meeting level to the enterprise levelImproves visibility to meeting activityReduces/eliminates paperworkDelivers efficienciesDrives common standards
23 This Session was Brought to you by the GBTA Groups and Meetings Committee GBTA Groups and Meetings Committee offers industry leadership and Best-In-Class education inStrategic Meetings Management. The group assesses and explores enterprise-wide meeting and event related processes, metrics, standards and supplier strategies to achieve quantitative cost-savings, risk mitigation and optimal service levels.
24 GBTA Groups & Meetings Committee Publications Strategic White Papers - Framework for Success: SMMPBuilding a Strategic Meetings Management Program (SMMP)Building a Meetings policy in Support of Your SMMPMobilizing Internal StakeholdersChoosing the Right Technology in Support of your SMMPLeveraging Group and Transient Spend with Hotel SuppliersEvaluating Strategic Meetings Management ProgramsEvaluating SMMP ScorecardModels of Success: Profiles in Strategic Meetings ManagementA Strategic Approach to Small MeetingsTactical White Papers - Critical Meeting ComponentsHotel and AirGround TransportationVenuesDestination Management CompaniesAudio Visual