Best Practices in Strategic Meeting Management Part I
by Lisa Meller
Technology at the Core
In this series, we explore the 7 key components of an SMMP and practical suggestions for implementation.
Currently, meetings and events (“M&E”) represent over $650 billion in the global marketplace, and spend grows at about 1.8 times the GDP annually. Over half of this spend comes from corporate clients. Global expansion is on the rise, and the pressure to manage budgets while producing high levels of ROI remain at top of mind.
Yes, less than 50% of companies can even estimate their M&E spend, let alone control it or leverage its value.
With strong Strategic Meetings Management Programs (SMMPs) in place, smart organizations are saving time, streamlining processes, and are saving money – to the tune of 10 – 25% in their first year alone.
PART 1: TECHNOLOGY AT THE CORE
At the center of the key components wheel is TECHNOLOGY. This is typically the first segment of an SMMP that companies implement. Why? Because it touches all other segments, centralizes information on a single dashboard, and can be utilized across all departments with leveraged economies of scale…Read More…