2019 Benchmark assessment: Meetings and events
2019 Benchmark assessment: Meetings and events
Insight

2019 Benchmark assessment: Meetings and events

Learn what leading event planning and procurement organizations are doing to trust spend data and protect program budgets.

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:

  • supplier management and sourcing
  • budget management and front-end meetings processes
  • financial process
  • reporting, analytics, and insights. 
M&E leaders need to tell the value proposition story more effectively to get required funding, or quickly figure out how to make existing dollars work harder for them.

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. 

2019 Benchmark assessment: Meetings and events
Learn what leading event planning and procurement organizations are doing to trust spend data and protect program budgets.