Case Studies

Increased Cost Savings and Avoidance
Challenge/Opportunity:

Company did not have a centralized sourcing process. Meetings were sourced and contracted on an event-by-event basis. The company did not feel they were receiving the greatest cost savings and risk mitigation from a silo approach.

Response/Solution:

M&IW was selected to be the global strategic sourcing solution. A team of sourcing professionals and contract negotiators funneled business to the company’s preferred hotels, negotiated multi-program, multi-year agreements, and leveraged overall meeting spend to obtain more aggressive rates, concession and terms.

Outcome/Results:

The company was able to realize 6% or $3 million cost and avoidance savings in the first year. Next steps included negotiating supplier rebates to further increase the perpetual cost savings

Mitigation of Hotel Cancelled Space
Challenge/Opportunity:

Company had a large number of meetings that cancelled and they were unable to reuse the space internally. Therefore, they ended up paying significant cancellation fees to hotels. In a specific example, they had $266,835 at stake in penalties if they were unable to use the space.

Response/Solution:

Meetings were decentralized within the organization and there was no repository for cancelled meeting space. M&IW centralized the cancelled meeting space using our technology tracking system which allowed us to broker the space to outside companies as well as trying to reuse the space within the company.

Outcome/Results:

M&IW was able to reuse the space for another company and hotel credits were applied between the two companies, thereby mitigating the loss to the original company. M&IW also managed the billing process between the two organizations and the hotel. This resulted in 77% reuse of cancelled meeting space.

Compliance Increased by 30%
Challenge/Opportunity:

Company did an internal audit and determined 50% of meeting owners were not following the company’s meeting policy and failed to use preferred meeting management companies.

Response/Solution:

M&IW surveyed meeting owners to gain insight into non-compliance. The results revealed that many meeting owners were unaware of a corporate meeting policy or that their company had designated preferred meeting management providers. The meeting policy was a one paragraph statement contained within a larger corporate travel policy and loosely worded. A defined and separate meeting policy was drafted with clear parameters, approval processes, and finance oversight for exceptions to the guidelines. Data was collected from hotels, accounts payable, and from the MMCs to determine employees going outside of policy. A non-compliance escalation process was developed to follow up with those individuals. Additionally, new hires were required to read and sign a meeting policy awareness and acceptance statement.

Outcome/Results:

It became mandatory to register all meetings within a central technology tool, given a unique identifying meetings code, and triaged by the meetings department staff to the preferred MMCs. After these elements were in place, registered meetings increased from 400 to 640 meetings out of 800 meetings annually. Compliance increased from 50% to 80% company-wide.

Sarbanes Oxley (SOX) and HCP Audit Compliance Increase
Challenge/Opportunity:

Company in the pharmaceutical/healthcare market was heavily scrutinized and meetings data was randomly audited. The results were less than stellar and the external auditing firm found the company had major flaws in their compliance to PhRMA code, SOX compliance, and state reporting with only 62% compliance in all areas.

Response/Solution:

Individual meeting owners were unaware and unenthused about following any state, federal, or industry codes because they were concentrating on the drug-to-market processes. They did not realize the negative impact of the audits. M&IW was retained to help overcome these weaknesses. M&IW stays current with PhRMA code, open payments, state reporting regulations, and SOX by attending industry sessions on the topics, receiving and updating of country codes on an internal grid and having a pharmaceutical industry attorney train our staff annually. Because of our expertise in the pharmaceutical/healthcare market, our staff became the gatekeepers to ensure all meetings met or exceeded the various compliance guidelines.

Outcome/Results:

All meetings were adhering to the domestic and international PhRMA guidelines when it came to Health Care Professional (HCP) attended meetings. M&IW developed a detailed HCP spend tracking process so individual state reports were completed and managed. They also made sure that every approval and communication with a meeting owner or attendee was in writing or backed up in writing. Random audits found that 98% of all meetings were now in compliance.

Outcome/Results:

All meetings were adhering to the domestic and international PhRMA guidelines when it came to Health Care Professional (HCP) attended meetings. M&IW developed a detailed HCP spend tracking process so individual state reports were completed and managed. They also made sure that every approval and communication with a meeting owner or attendee was in writing or backed up in writing. Random audits found that 98% of all meetings were now in compliance.

Best-in-Class Practices in Action
Challenge/Opportunity:

A large global medical device company knew there were many meetings being handled internally by HR staff and administrators. They were concerned the internal staff was putting the company at risk from a liability and legal standpoint. There were no policies and procedures surrounding meetings and no data was being captured. With the advent of Open Payments, the firm also needed a way to track Heath Care Professional (HCP) spend in order to comply with the new government mandates.

Response/Solution:

After talking with the Stakeholders (Procurement, Finance, Meeting Owners, etc.) extensively, M&IW created a road map tailored to company’s wishes. A meetings registration portal was developed and implemented to include the preferred supplier network, parameters for when to use the preferred suppliers, and set pricing as established by procurement. Training sessions with internal staff were done regionally to roll out the new meetings process. Preferred suppliers were selected through an RFP process and introduced at the training sessions & trade fairs. Due to our work with many prominent pharmaceutical and healthcare companies, our team of experts in this area worked with the customer to develop an HCP process and data tracking system. After a pilot program for six months where M&IW handled the booking and data tracking for HCPs in one division, the program was deployed enterprise-wide successfully.

Outcome/Results:

Meetings & Incentives Worldwide won the company’s Best Supplier Collaboration award in our first year of work with the client, out of all suppliers, not just for meetings and events. With our vast SMM and HCP experience in the Pharmaceutical and Healthcare Industry, we took the best practices from the market and applied them to the medical device company’s needs.