Groupize Blog

Need Better Meetings Management? Here’s How Industry Experts & Insiders are Making It Happen

Aug 24, 2020 3:30:28 PM / by Madison Harris

Surely, we can all agree that company payment policy is a key component of your meetings and events program. The policy will provide a clear and documented outline of the guidelines concerning meeting expenses and what is required to get expenses paid. The policy will also inform associates about the consequences of failing to comply with the policy and local payment terms.

From the onset of the process design, involving the right stakeholders is crucial to its success. Partner with the business process owner to ensure the right control points are identified and integrated into the Standard Operating Procedures (SOPs). We recommend engaging with at least the following groups:

• Finance
• Meeting Management Team
• Procurement
• Third-party meetings agency
• Meetings management technology provider/IT
• Legal

Where a PO process is in place, ensure that all teams are clear on the workflow and tracking of the process. A similar process can be applied for other payment methods such as card products or inbuilt as part of a payment platform. If using a card method such as p-cards, meeting cards, or corporate T&E cards, a level of reasonable control should be built into the process, possibly scaled by payment value.

Ultimately, a technology solution will increase automation in the payment process. For example, if you have a technology platform in place, the meeting could be required to be registered, a meeting ID aligned to the request, and that ID must be issued before payments can move through for approval. This is a more advanced workflow, and with technology integrations, you can enable budget approval, card creation, assignment, and reconciliation as an integrated part of your meeting technology platform.

These are unprecedented times, and we can expect some sea-change impacts on business, behaviors, and expectations. Everyone will be required to respond and modify their business models for the new post-crisis ecosystem. How we plan, how we communicate and collaborate, and how we interact is all going to change. That being said, those who are quick to adjust will lead the way for the industry to follow. While so many may be taking things day-by-day, it’s critical to look to the future to determine the best course of action moving forward.

Now more than ever, corporations are looking for easier, more efficient, and cost-effective meetings management strategies to navigate through this period of uncertainty and into the future.

 

To learn more about the new normal and how to prepare for the changes in travel, meetings, and events worldwide, download the complimentary eBook titled, Prepare for a Changed World, which delivers timely peer to peer advice from leading travel managers, meeting planners, procurement, TMCs, and industry partners.

 

It’s important to recognize those trends which have been accelerated by the pandemic in your planning for the next year. Download our complimentary eBook titled, 6 Meetings Trends Accelerated By the Pandemic, to help you prepare for today and get ready for the future of meeting and event management.
 

To learn more about how Groupize helps organizations simplify meeting management, please visit www.groupize.com or call +1-508-232-7719.

Tags: Meetings and Events, Modern Meetings, Management, Experts

Madison Harris

Written by Madison Harris

Marketing Associate for Groupize