New Lanyon Research: Companies Can Save Millions With Event Management Best Practices

Posted by Kevin Iwamoto on 04/15/2014

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Adopting just two event management best practices puts you on the fast track to savings. That’s what a new Lanyon whitepaper concludes after studying 201 event executives at large companies.

The survey, conducted by International Marketing & Technology Solutions, Inc. (IMTS) in the fall of 2013, says that companies that centralize event planning and employ a central meetings policy can reap up to $2.2 million[1] in event savings annually.

That’s a pretty hefty number and hard to ignore! But what’s the best, most efficient way to make those best practices work? The answer: event management software. Event tech automates and centralizes planning across an entire organization. And, helps enforce a central meetings policy by including preferred, negotiated hotel partners in planners’ sourcing choices.

But how does event tech produce savings? The study found significant majorities of those with centralized event planning processes and a meetings policy in place were able to measure their meetings/travel spend as well as track event spending against event ROI.

For more insights and findings from the survey, check out Lanyon’s colorful, easy to read infographic. And, stay tuned for more on the survey, and a link to download the whitepaper, in a new post next week.

Do you centralize event planning? Have you implemented a central meetings policy? And finally, can you track costs and measure event ROI, as a result? Please share how that’s working for you here.

[1] Based on Lanyon customer results: 10-25% average in annual savings with event management software


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...read the original article here.


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