2 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 Consolidation One Size Fits All Meeting Execution Defining SMMP
3 Why Meetings?
4 Industry Overview: Market Sizing The large and predominately unmanaged corporate meetings market represents an opportunity for our customers to drive savings while reducing risk Corporate Meetings Market $ 73.4 B - Leisure & Associations $ 84.7B $158.1B Total Market Size How big IS the Meetings Industry?
5 Travel Procurement Meetings A Convergence of Disciplines
6 Reality 101: Goals at Odds Travel Management Drive business to preferred partners repeatedly Travel is travel – even for meetings Provide rolled up data/reporting Lack of meetings industry knowledge Procuremen t Standardize/homogenize Reduce risk/cost Meetings as a commodity Lack of meetings industry knowledge Meeting Management Unique/creative meetings Subjectivity is rewarded High level of ownership Previously not engaged in enterprise solutions Legacy success How do we bridge the gap and work together toward common strategic goals?
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 Revenue Cost Savings and Avoidance Process Efficiencies / Reduce Redundancy Risk Management Contract Terms & Conditions Sarbanes-Oxley (SOX) Compliance Crisis Management Situations
8 Developing a Business Case
9 Business Case Define Measure Analyze Build Implement Executive Summary Current Situation OpportunityFinancial Strategy Support Requirements Marketing Implementation Define Success Scope/Global Key Stakeholders
10 Building a SMMP
11 Building a SMMP Design Your SMMP Approach…what components? Align Objectives to Components Determine Service Configuration –Outsource vs. Internal or Combo Prioritize Components Create Implementation Plan Communication Plan Train Program Users
12 Implementing a SMMP
13 Components of a SMMP Policy Meeting Definition Meeting Process and Tools Approval Process / Levels Sourcing and Contracts Financial Guidelines Preferred Suppliers Key Contact Information General Instructions Why? Corporate Direction Compliance Control Efficiencies
14 Components a SMMP Registration of Meeting/Event Registration helps supply consolidated, consistent and auditable data Determine what data you need to collect and what you are going to do with it Technology can assist in this process Options range from spreadsheets to robust technology solutions Cost/benefit decision
15 Components of a SMMP Approval Determine who can approve: Meetings Exceptions Changes Levels Need to collect and communicate Drives compliance Enables consistency Produces better buying and business decisions
16 Components of a SMMP Sourcing / Procurement Purchase required services at best pricing Supports corporate objectives Preferred supplier usage Risk mitigation Standardized contractual requirements Safety and security Savings
17 Planning / Execution Logistical requirements - In-sourced, out-sourced, or mix Creates consistency Clearly define roles and responsibilities Set expectations Components of a SMMP
18 Payment / Expense Reconciliation How to pay for and acquire meeting related services and products Link planners with tools and resources Payment Processes Online travel reservations Ensure adequate controls are in place Data capture Auditing Reporting Reconciliation Components of a SMMP
19 Data Analysis / Reporting Determine what data needs to be collected, reported, and tracked Who 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 decisions Reconciliation or meeting budgets Supplier/vendor management Components of a SMMP
20 Technology: Enabler to Success Delivers efficiencies Drives common standards Mature, consolidated marketplace Automates processes Centralizes data Improves visibility to meeting activity Reduces/eliminates paperwork Supports/enables pre approval Reporting capabilities from the meeting level to the enterprise level
22 Phased approached The Pieces Come Together
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 in Strategic 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: SMMP Building a Strategic Meetings Management Program (SMMP) Building a Meetings policy in Support of Your SMMP Mobilizing Internal Stakeholders Choosing the Right Technology in Support of your SMMP Leveraging Group and Transient Spend with Hotel Suppliers Evaluating Strategic Meetings Management Programs Evaluating SMMP Scorecard Models of Success: Profiles in Strategic Meetings Management A Strategic Approach to Small Meetings Tactical White Papers - Critical Meeting Components Hotel and Air Ground Transportation Venues Destination Management Companies Audio Visual