Cloud-based delegate and event management software provider, Active Network, has released a study showing a 167 per cent increase in cost savings from using Strategic Meetings Management (SMM) on meetings and events. The independent research study was conducted by the Aberdeen Group and the findings were released by Active Network while it was exhibiting at the Global Business Travel Association (GBTA) Convention in San Diego.
For the study, Aberdeen surveyed global supply management and procurement business leaders on trends driving the need for SMM and the actions companies are taking to mitigate compliance risks.
Among the findings, the study revealed that:
- Compliant companies report 167 per cent higher realised and implemented cost savings resulting from strategic meetings and events spend than non-compliant companies
- 63 per cent of survey participants said the requirement to reduce costs on meetings spend is the top factor driving the need for SMM
- 71 per cent of aligned organisations use an end-to-end SMM solution rather than risk mismanaging events
- 42 per cent of companies surveyed plan to align with federal regulatory policies in 2013
- Compliant companies report a 29 per cent higher rate of strategic meetings that are executed on or below budget
- Companies that are already aligned are more likely to leverage technology to save time and money, enable fiscal reporting, provide visibility into their business, and reduce risk.
“The Aberdeen Group study reinforces the need for SMM in this day and age, where companies are required to provide visibility into their business in order to enhance compliance,” said JR Sherman, Senior VP and GM of Active Network’s Business Solutions Group.
Active Network also unveiled the second edition of its SMM eBook at the convention. Following the first edition ACTIVE StarCite SMM handbook released in 2011, the new eBook is entitled, SMM Champions: Best Practices for Developing SMM.
It includes contributed articles on trends and best practices in SMM from industry experts at companies such as Carlson Wagonlit Travel and American Express, among others. Topics include creating a SMM programme, controlling spend, managing risk, using social media and gaming to improve attendee engagement, and implementing global SMM.
The eBook can be downloaded today from Active Network’s website.
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