Already in the concept phase of a Strategic Meeting Management Program (SMMP) and need to think of success control and relevant KPIs?
The scenario: Your environment is shaky and the future still uncertain. The number and volume of your projects are unforeseeable. Budgets are changing in the course of the adaption of the strategy. And the board expects you to improve the quality, but nobody has defined a set of service levels. However, you know that soon after the implementation of the program that you are currently fighting for; there are many people who will be asking for the figures proving its success. And there’s the crunch: do you have time to measure what’s going on now? Do you have the relevant information in your company at all? If NOT - you need to spend more time on the concept phase to make reasonable assumptions for your future metrics.
Things to take into consideration:
Quality – spend time on defining the catalogue of service levels. Make a clear distinction on different meeting types and collect a proper description of services. Keep in mind new services and trends and discuss with outsourced implementation partner. For quality control you should design a feedback questionnaire for all participants or at the very least all meeting owners.
Compliance – maybe you don’t need to follow a complex compliance system, lucky you! But some corporations implemented not only strict internal regulations for purchasing processes. They also need to follow external compliance codices like the pharmaceutical industry or companies engaged in the financial services. Try to make assumptions for the time spent in the purchasing department, in your legal department and in the congress department.
Processes – can your controlling department provide any figure for purchasing processes? How much time and money must be spent in the decision process for one or another supplier? What is the fully loaded cost basis for raising a purchase order? My advice: Try to define your processes properly and keep in mind that many processes can be outsourced to your partner: From raising the purchase order to booking the final invoice. Consider the savings potential and try to measure it.
External cost – just in case you don’t have an exact overview now. You will have it in the future. For compliance reasons you can include an audit right in your contracts. Therefore make sure you design relevant KPIs, such as cost per participant or cost per meeting type. In combination with a defined service level you will be able to measure the success of your program.
Reporting – be honest, you now have only a gut feeling on what’s going on. And how should you in the light of the complex IT landscape in your group! In most cases business intelligence is not that far. This must be changed if you want to be in control of your SMMP. But you don’t have to do it by yourself. Make it part of the outsourcing portfolio.
Your SMMP approach will save time and money. And in the long run it’ll make your life easier too. It always helps to involve one or more of you potential implementation partners to support you in the concept phase. In the end your outsourcing partner should collect all relevant data and provide the numbers. That’s part of their business!
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