AnCon09 Strategic
- 1. STRATEGIC MEETINGS MANAGEMENT PROGRAMS & TYPICAL COST SAVINGS A SMMP, is commonly referred to as ‘Meetings Consolidation’. It is a series of best practices designed for organizations seeking to not only understand what they spend on meetings, events and incentives, but ensuring they are getting the best return from those expenditures. ASSUMPTION : Total Client air volume is $1M. General rule is 25% can be channeled into a well-managed meetings program.
- 2. STRATEGIC MEETINGS MANAGEMENT Goals of a Managed Meetings Program: Reduction of Costs Greater Leverage with Suppliers Minimize Risk to the Company Areas of Opportunity: Process Efficiencies Consolidate resources Eliminate duplication of work
- 3. Risk Management “ Most companies have at least some of their contracts being signed by employees with little or no legal background.” Standardize contract content to reduce risk Centralize drawing up contracts & approval (this will also help identify all meetings) Look for areas of added exposure and security risks on each contract Develop & support preferred supplier relationships STRATEGIC MEETINGS MANAGEMENT
- 4. Best Practices Approval Implement an approval process whereby someone other than the meeting planner or the person requesting the meeting, provides final approval. This will decrease the chances of meeting cancellation and associated costs, as well as hold a limit to an approved budget. HOW TO ATTAIN YOUR MEETINGS MANAGEMENT GOALS:
- 5. Payment Planning Establish budget codes for each meeting Limit the methods of payment for more control Reporting & Data Analysis At the completion of each meeting, evaluate the data to determine the ROI by comparing the planned outcome to the actual.
- 6. TECHNOLOGY Use available meeting software to eliminate paperwork, improve workflow, and speed up the overall meetings process.
- 8. MEETING SUPPORT SERVICES Outsourcing of Meeting Planning Services Contract Negotiation or Review Budgeting Software Registration & Meetings Technology