Heads of Meetings and Events (M&E) and their business partners are identifying ways to drive value back to their businesses in the form of cost savings, improved budget management, streamlined payment, and data-driven decisions. While these are common areas of focus in any large organization, M&E poses unique challenges for the diverse set of stakeholders who collectively strive to keep costs low and customer experiences high. These professionals – marketing, procurement, finance, operations, and planners – are exploring new strategies to overcome the hurdles that M&E presents.
To evaluate the state of processes adopted in the meetings and events category, Eved, in association with KPMG and Bondurant Consulting, surveyed thirty-eight primarily Fortune 500 companies representing approximately $3B in annual spend under management. Each company was asked specific questions about how it operates the lifecycle of its M&E program. Responses were then aggregated and placed on a maturity curve, creating a benchmark for each company against its peers in the following areas:
The study reveals opportunities for businesses to advance in M&E process maturity by detailing the steps taken by the top performers, including high-value ways to address large business goals and investments in technology.