APEX + SMM + BI = ME
Accepted Practices Exchange (APEX) is the industry standards that define the information that an eRFP, Housing and Registration, Event Specification Guide and Post Event Report should contain when a planner is looking for a venue, managing housing and registration, planning the event and capturing the actuals for an event.
Strategic Meeting Management (SMM) is an industry initiative that provides the structure to manage events through a systematic process that encompasses each phase of an event and all the pieces necessary to manage the expenses and potential revenue of an event. SMM should be a regular review of your current event management processes to identify areas that are not managed based upon company policy. A mature SMM program will yield very little cost savings year over year because the inefficiencies will have been identified and addressed during the maturation process. The value of a mature SMM program is consistent process, controlled spend and leverage buying power.
Business Intelligence (BI) is defined as computer-based techniques used in spotting, digging-out, and analyzing business data, such as sales revenue by products and/or departments or associated costs and incomes. Business Intelligence in the meetings and events industry is having real time, enterprise wide reporting that provides BI about the number of events your organization is involved in annually, total spend, eRFP pipeline that shows the total volume of opportunity to your suppliers to leverage in current and future negotiations, a supplier contract template to ensure consistency in the negotiations process, reporting about the departments that your events are servicing, master event calendar and compliance to internal policies.
Meeting Evolution is the only web based strategic meeting management platform that is able to manage the entire lifecycle of an event based upon industry standards as defined by the Convention Industry Council. Meeting Evolution is the only technology in our industry that has implemented the four major pieces of the industry standards (Single Facility RFP(2007), Housing and Registration(2013), Event Specification Guide(2013), Post Event Reporting(2013)). I have seen customer after customer move from a manual, time consuming process where emails and excel are managing the events with very little accurate reporting to leveraging the Business Intelligence that Meeting Evolution provides to manage each step of the event lifecycle and leverage real time information to impact their current and future negotiations.
I hope all your events this week are successful!