7. Where did SMM Start? In Travel Travel Department THEN NOW Meeting Planning Department
8. Where did SMM Start? In 3 Industries Pharmaceutical Financial Technology THEN NOW Companies of all kinds
9. Sharing Some Numbers – Making the Case The missing pieces of a larger puzzle 80% of meetings are usually not tracked and managed The Hidden Spend 60% of annual air volume or 0.5 % – 1% of annual sales volume Average Company Meeting Spend Estimated Organizations can save up to 20 % (estimated) of meeting related direct cost
16. Components continued… Sourcing/Procurement Hotel/Destination selection, negotiation and contracting process risk management Acquisition / Purchasing Limit the methods for meeting related expenses Increase the organizations ability to scrutinize expenditures associated with meetings. Planning / Execution Implement technologies to streamline planning and execution Data Analysis / Reporting Collection of meeting data to compare with planned outcome performance. Formulate possible performance metrics to compare against in future such as F&B budget, cost per attendee, etc.