Strategic Meetings Management Program or SMMP…..the National Business Travel Association (NBTA) defines SMMP as “..a disciplined approach to managing enterprise-wide meeting and event activities, processes, suppliers and data in order to achieve measurable business objectives, aligned with the organization’s strategic goals and vision, and deliver value in the form of quantitative savings, risk mitigation and service quality. It is a mufti-year corporate strategy customized to the corporate culture that is often led by a meeting, travel or procurement leader, or a meetings council made up of the key stakeholders.”
As accurate as that definition of SMMP might be, we’d like to define the importance of SMMP by outlining what it means for you. And since its still the beginning of they year, what better than a list to demonstrate its importance?
1. Greater understanding of your meetings data including costs, volume, attendance and ROI.
2. Better business intelligence through easy and consistent analysis of meetings data.
3. Reduced duplication of effort and improved meetings consistency/quality through consolidating meeting management to meeting planning teams or outsourced vendors.
4. Cost savings through standardized procurement procedures.
5. Costs savings through the establishment of preferred vendors, standardized contracts, reduced negotiation time, and increased vendor concessions from the leveraged buying power from focusing the meeting spend.
6. Risk avoidance through meeting centralization of contracts focusing contract reviews and signing to contract experts.
7. Reduced regulatory risks and improved legal compliance to regulations such a Sarbanes-Oxley (SOX) and the Healthcare Sunshine Act through policy guidelines and compliance tracking
8. Increased efficiencies and productivity through standard operating procedures and technology automation.
9. Greater meeting value and quality through ROI management and meeting consistency.