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Synergy within the CTD and SMMP

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.

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Synergy within the CTD and SMMP

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  1. 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

  2. Learning Objectives Overview of Strategic Meetings Management & Company Profiles Differences Between Travel and Meetings Common SMM Myths Questions and Answers

  3. 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 matchingdepartment goals to corporate values/objectives and using data consolidation and reports to enhance the strategic nature of meetings.

  4. Why Consider SMM? • Visibility • Savings • Risk Mitigation • Increased Efficiency Top 4 Reasons:

  5. SMM: An Overview Current State: SMM Opportunity: • Central oversight and tracking of meeting activity and spend • Consistent platform for meetings management process(es) • Data captured in one repository • All-inclusive spend data yields stronger position in negotiations • Enhanced efficiency • Mitigated or contained risk • No monitoring or visibility into meeting spend • Decentralized meetings management process • Data is held in disparate silos • Limited ability to leverageall spend in negotiations • Time-consuming process • Unlimited risk and liability

  6. Agenda Overview of Strategic Meetings Management & Company Profiles Differences Between Travel and Meetings Common SMM Myths Questions and Answers

  7. Comparison of Travel & Meetings Programs

  8. Comparison of Travel & Meetings Programs

  9. Comparison of Travel & Meetings Programs

  10. 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…

  11. Agenda Overview of Strategic Meetings Management & Company Profiles Differences Between Travel and Meetings Common SMM Myths Questions and Answers

  12. 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

  13. 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.

  14. 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

  15. 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.

  16. 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

  17. 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

  18. Synergy within the CTD and SMMP Questions and Answers Thank you!

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