Transcript Document
Synergy within the CTD and SMMP Presented By: Cheryl Hoffard, Manager of Travel & Meetings, The Schwan Food Company Cynthia Thompson, Travel Manager, Academy Sports + Outdoors Lisa Palmeri, Sr. Director SMM Professional Services, Cvent Learning Objectives Overview of Strategic Meetings Management & Company Profiles Differences Between Travel and Meetings Common SMM Myths Questions and Answers What is Strategic Meetings Management? GBTA Defines SMMP as: Management of enterprise-wide meeting-related processes, spend, volume, standards and suppliers to achieve quantitative cost-savings, risk mitigation and superior service. Includes matching department goals to corporate values/objectives and using data consolidation and reports to enhance the strategic nature of meetings. Why Consider SMM? Top 4 Reasons: Visibility Savings Risk Mitigation Increased Efficiency SMM: An Overview Current State: SMM Opportunity: No monitoring or visibility into meeting spend Central oversight and tracking of meeting activity and spend Decentralized meetings management process Consistent platform for meetings management process(es) Data is held in disparate silos Data captured in one repository Limited ability to leverage all spend in negotiations All-inclusive spend data yields stronger position in negotiations Time-consuming process Enhanced efficiency Unlimited risk and liability Mitigated or contained risk 18,000 employees, Frozen Food Company – Manufacturing, privately held, Revenue of $3B Key Program Objectives & Regulatory Requirement Considerations (if applicable) Reduce contractual risk, gain better control of meeting data, maximize purchasing power with travel, increase quality and consistency of results Definition of a Meeting (or Event) Policy does not apply to meetings/events held in a company facility for which no airline and hotel reservations are required. SMMP Launch Date 2002 Meetings Team Size 3 Total: 2 Business Meeting Specialists plus myself Expected # of Meetings Captured 100 per year – all external meetings (outside of our company facilities) Actual # of Meetings Captured 100 per year – most likely more and still trying to lasso those cowboys Meeting Policy Type Mandated Program Scope US 21,000 employees, 160 stores, Sports retailer, currently privately held, Revenue of $5 Billion Key Program Objectives & Regulatory Requirement Considerations (if applicable) • • • • Definition of a Meeting (or Event) Meeting/Event is defined as “any venue contracted for the purpose of corporate or store meeting/events outside the corporate meeting space” SMMP Launch Date May 2008 Meetings Team Size Expected # of Meetings Captured Actual # of Meetings Captured Contractual consistency Align meeting and travel data Leverage purchasing power with travel Maintain quality control 2 Total = 1 travel/meeting clerk and 1 CMP 200 meetings outside corporate offices 200 meetings outside corporate offices Meeting Policy Type Mandated Program Scope US Agenda Overview of Strategic Meetings Management & Company Profiles Differences Between Travel and Meetings Common SMM Myths Questions and Answers Comparison of Travel & Meetings Programs Aspect Travel Meetings Policy & Compliance - Both contain some logistical content Travel policy has more absolutes with few exceptions Easier to enforce compliance Meeting policy has more variables and exceptions, focuses on compliance to regulatory/duty of care requirements Technology - Both have an element of process automation & online options Online booking tools, preferred hotel bidding solutions Sourcing, budgeting, and attendee management Data Management and Reporting - Both require it for program measurement Has established and standardized benchmark (ADR’s, ATP’s) reports, source is primarily GDS No Meetings GDS, data management more difficult, coming from multiple sources, no standardized benchmarks, event and cross-event level Suppliers - Both oversee hotel and technology Oversees air, car, GDS Oversees DMC’s, audiovisual/production, restaurants, transportation Payments - Similar payment vehicles System of record is expense management tool No singular system of record for meeting expenses, added complexity of individual vs. central billed, higher expenditures require approvals Comparison of Travel & Meetings Programs Aspect Travel Meetings Change Management – Prevalent in both Resistance by individuals to policy has an impact on an individual trip costing no more than a few thousand dollars •Fear of losing the fun/creative part of their job and the perks •Fear of jeopardizing long-standing vendor relationships •Resistance to policy has an impact to a meeting costing as much as 5 to 6 figures Stakeholders – Overlap but roles are distinctly different •Travelers are concerned about the duration and comfort of a trip •Travel Managers are concerned about overall program effectiveness, supplier performance, and duty of care for traveler/employee safety •Meeting Owners – meeting effectiveness, safety and comfort of all attendees, some of which are customers •Sr. Management - duty of care and regulatory compliance •Procurement - sourcing and contracting practices and cost •Meeting Planners - for the meeting’s overall success and supplier performance Comparison of Travel & Meetings Programs Aspect Travel Meetings Contracts – Similar vendors •Travel provider contracts are managed at a high level, usually no more than annually, many are multi-year deals •Only the Travel Manager or Procurement can execute contracts, often with legal oversight •Contracts necessary for most meetings and events, usually multiple contracts per meeting to different types of vendors (hotel, DMC, ground transport, event production companies) •Contracts executed without legal oversight •Terms and conditions are very specific to the nature of meetings – liability insurance, cancellation/attrition Booking Processes – Similar when meetings have a pay on own aspect •Buyer is an individual buying for themselves •Travel buyer is less sensitive about the quality of the trip •It’s a commodity buy with limited options and suppliers offering the same things •Buyer booking a meeting on behalf of many attendees •Buyer is very concerned about the quality because the meeting impacts many people, many of whom could be customers •Not a commodity because the quality and creativity of the suppliers impacts the attendees’ experience Risk Management Self-regulation & Duty of Care: Compliance with industry imposed regulations, accounting and procurement standards, information privacy and security, public scrutiny Duty of care applies to attendees’ safety, security and safeguarding the company’s image and reputation Fed, state & local laws: Sarbanes Oxley, Sunshine Act, Foreign Corrupt Practices Act, Financial Industry Regulatory Authority… Agenda Overview of Strategic Meetings Management & Company Profiles Differences Between Travel and Meetings Common SMM Myths Questions and Answers SMM Myth 1 Myth 1: It’s too complex and hard to implement. Not-for-profit Organization Started with Meeting Registration and Sourcing Process Implemented first phase in 8-10 weeks Initial meeting process was simplistic with gatekeeper oversight Phased in additional SMM components Introduced budgeting last after other components were well established Planners were able to appreciate benefits of program before rolling out the final budgeting phase SMM Myth 1 Myth 1: It’s too complex and hard to implement. Fact: By identifying a clear path, logical phases, a clearly defined project scope, and taking it one component at a time, SMM can be a straight-forward process. Avoid the urge to over-engineer. SMM Myth 2 Myth 2: It threatens my job. Large technology and defense contractor, over $10B in revenue Initiative Lead sold the initiative from the bottom up Organized representatives from each division on steering committee Comprehensive, multi-pronged communication campaign Meetings > $5K or that require a contract are reviewed. All other meetings are registered for tracking purposes, but are auto approved BU Administrator evaluates the contracting needs and either sources it themselves or returns it to the requester to source. Requesters are allowed to plan their meetings SMM Myth 2 Myth 2: It threatens my job. Fact: If anything, an SMMP that takes the risk of planning meetings out of the hands of occasional planners (those not well-versed in event contracting or regulatory compliance) will protect their jobs. Even inadvertent policy breaches due to a lack of awareness in the areas of contracting or regulatory compliance are often grounds for disciplinary action. SMM Myth 3 Myth 3: It only works for large organizations. Mid-sized third party meeting management company Tasked with implementing and maintaining SMMP’s for clients of all sizes Implemented meetings registration process that could be easily replicated Created actionable reporting package that was easy to “customize” for clients Sourcing, planning, budgeting and reporting all integrated into one seamless process Program components could be pared down for smaller firms SMM Myth 3 Myth 3: It’s only works with large organizations. Fact: SMM best practices, such as centralized meeting registration, strategic sourcing and attendee registration management, can benefit any size/type of organization. Even if only the meeting registration process is centralized, the visibility and risk mitigation benefits to the organization are significant Synergy within the CTD and SMMP Questions and Answers Thank you!