Organizations of all sizes struggle with productivity and cost-effectiveness when they haven’t implemented a strategic meetings management program. Whether a company is publicly traded, private, or a member of a strong industry association that governs ethical practices, meeting planning policies should be implemented around budget approval, gifts and the sourcing process.
The Most Critical Risks Your Meetings Program Is Facing:
Enforced by industry or state/federal government regulators
Due to lack of legal foresight or knowledge
Branding & Public Image Risk
Without proper oversight companies may discover meetings activities that do not correlate with current corporate messaging or that are inappropriate altogether, either from a financial or content perspective.
Subject to human error and/or intentional fraud
Safety & Security Risk
From natural disasters to political uprisings, conditions can arise that demand crisis preparedness
So, how do you avoid these risks? It’s all about consistency and raising awareness. Meetings management technology can house a living meetings policy and drive meetings processes to ensure consistent planning. Applying these practices to every meeting is the first step in mitigating risk.
Technology allows you to ensure all meetings are in compliance, approved, and using approved suppliers. You can submit meeting requests, set up approval forms and approvers, track event approvals, and view a centralized meetings calendar. Also, you’ll have the ability to review and allocate related budget.
In this Meetings Starter Kit, we’ll explore how a meetings management program can mitigate potential problems and prevent the corporate financial losses often associated with them.
This post is part of a series on meetings management. To see other blogs in the series, click here.