Archive for Pharmaceutical, Medical and HCP Compliance

Lighting a New Fire: Finding Vision and Strategy (Part 3 of 3)

WBENC Tuck Executive Course

Written by Tina Madden, CPA | Co-CEO and Chief Customer Officer

When I reflect on this history of M&IW, I think about my father and grandfather—their courage and perseverance to start a family business more than 50 years ago. I think about their unwavering principles and values that have stood the test of time and continue, to this day, to run deep through our employees and our company’s culture. However, there is one attribute that particularly stands out and that is grit.

Grit is a character trait that is deeply ingrained in our family, and also one that we strongly value at M&IW. To us, grit is the courage to go first, the resolve to always do the right thing by our clients even if it is difficult, and the strength of character to admit we may not have all the answers, but you have our promise that we will work together in partnership and figure it out. It is having the perseverance to fail, pick yourself back up and keep going.

After completing the Tuck-WBENC Executive Program, I had a realization that while our company has continued to grow and innovate, we have reached an inflection point with a unique opportunity to shape our future. I asked our executive team to redefine the objectives that will drive future strategies, create more alignment across teams and departments, as well as provide us with a means to track our performance and ongoing success. Through this exercise, we came up with three focus areas: GRowth, Innovation, and Talent. And, guess what? There you have it—our new meaning of Gr.I.T.

As M&IW evolves, apparently so does our definition of grit. Our goal over the next few months is for our leaders to continue to define and refine. We will put objectives in place to grow our business and build relationships, lead the industry in innovation, and recruit/retain the best talent that aligns with our culture and values.

It amazes me as we begin this journey of mapping out our future success how transformative it is! Even in the early stages. Which is the reason I share this with you now even before we have it all defined, because we realize it is not our final destination that matters most, it is the journey and learnings along the way.

And while we are at the beginning of refining these objectives; our mindset is solid. We are focused on putting the practices in place to ensure the health and wellbeing of M&IW for the next 50 years.

So, what does our GRIT mean for you?

Through this exercise into 2019, we are going to get really clear on how to best serve you. This will result in more innovative service offerings, enhanced customer service, and streamlined operations all with the goal in mind to help you grow your business. Because, we firmly believe in our vision to transform organizations through the power of human energy, one event at a time. And, because we believe in our mission to focus on aligning enterprise and event customers while designing and executing innovative solutions to drive continuous improvement and deliver exceptional experiences. We are excited to continue to partner with our clients in the year ahead and deliver amazing outcomes.

Posted in: Company News, Conferences & Tradeshows, Data Analytics, Business Intelligence & Consulting, Event Marketing & Communications, Event Technology & Mobility Solutions, Group Air Travel Management, Incentive Travel Programs, Pharmaceutical, Medical and HCP Compliance, Program Management & Event Design, Sourcing, Negotiating & Contracting

Leave a Comment (0) →

Lighting a New Fire: Finding Purpose and Intent (Part 2 of 3)

WBENC Tuck Executive Course

Written by Tina Madden, CAP | Co-CEO and Chief Customer Officer

As business leaders, we are often caught up in dealing with things in real time. People rely on us to help solve immediate challenges and make quick decisions, all while pushing our team leaders to the next level. It is incredibly difficult to take a break from the work that is in front of us to strategically plan for the future. It’s a commitment to make something abstract the main priority.  In Part 1 of this series, published last month, I wrote about my experience at the Tuck-WBENC Executive Program at the Tuck School of Business, how it lit a fire beneath me and what it means for our colleagues and partners moving forward. I want to take a moment to expand on this further.

Going into it this program, I knew the basics of what to expect. I knew we would work on business operations and marketing strategy, hear from various business experts, and learn about some of the challenges and solutions experienced by our peers. But what I didn’t expect, was that I would get so passionate about empowerment. Empowerment has always been a part of my purpose as a leader, but I discovered during this program that there was more I could be delivering and that my excitement for creating purpose runs deeper than I could have ever imagined.

During the program, we were asked to consider what legacy we wanted to leave and how we could continue to give back. In experiencing the ‘transformative’ moments my peers had during this program and thinking about my own leadership journey, it became clear to me how fascinated, and passionate I was about women empowering other women. I saw women being lifted by their peers. I saw breakthroughs because of the support and ideas being shared among the group. I saw very established women leaders let go of the “woman-doubting guard” they had been carrying and honestly realizing that they were right where they were supposed to be. It wasn’t just luck. It was hard work, dedication and focus, not happenstance.

So, there you have it. The legacy I want to leave is to become the best women leader I can be and intentionally work to support other leaders. It is a harsh society today. In an age of technology, transparency, and social media there is a lot of criticism on what we are all doing “wrong.” What if we stopped focusing on what we are doing “wrong” and start to focus on what we are doing right and how to continue to create opportunities and successes? Magic may happen.

What does this mean for all of you?

At M&IW, we are very passionate about our culture. It is essential to my sister, Jean, and I as Co-CEOs that we create an environment where our employees, leaders and executive teams feel empowered and empower others. To continue to build and sustain a culture free of criticism to let creativity thrive, one full of support even when mistakes are made, one that allows different types and levels of leaders — program leaders, account leaders, thought leaders, and people leaders – to all THRIVE. The best leaders really do see beyond what people currently are to what they have the potential to become. This applies to our clients and suppliers, as well, because we are in partnership together to create amazing outcomes through the power of human energy and live events.

I look forward to sharing the final part in this series next month in which I will dive deeper into our business and vision into 2019 and beyond.

 

Posted in: Company News, Conferences & Tradeshows, Data Analytics, Business Intelligence & Consulting, Event Marketing & Communications, Group Air Travel Management, Incentive Travel Programs, Pharmaceutical, Medical and HCP Compliance, Program Management & Event Design, Sourcing, Negotiating & Contracting

Leave a Comment (0) →

Project Global Give Back, Ain’t No Stopping Us Now

Written by: Kristie Rogers | Manager, Recruiting & Training

If you asked me what M&IW’s biggest strength is, my answer would be simple – it’s the hearts of our employees. It is not uncommon for the M&IW family go above and beyond for our client, but they go above and beyond for our communities as well!

In the past, we have worked, as a company, for causes such as Make-A-Wish and Relay for Life. Together, we’ve granted two wishes for children in 2016 and have raised thousands of dollars towards cancer research since 2001.

As we celebrated our 50th anniversary, we brainstormed how we could push the envelope and make our 50th year Global Give Back program one to remember. We created the 50 Years/50 Charities initiative. The company was split into 50 teams based on their global location. Each team ranged from four to eight people and were given the opportunity to choose a charity that was close to their hearts. Some chose national charities, such a Big Brothers Big Sisters. Other teams chose local charities, such as the River Bend Nature Center in Racine, WI and the Chestnut Tree House in Sussex, UK. The teams had an entire year to give back to that charity.

Of course, there was also a bit of friendly competition. Teams were competing to raise the most money for their charity or contribute the most volunteer hours. Some teams raised money for their charity by selling bracelets, raffling off baskets of goodies, holding bake sales, and collecting in-kind donations such as school supplies. Others gave back by volunteering as a team, harvesting vegetables for a food pantry, spending time with underprivileged youth, and walking dogs at their local animal shelter.

When it came time to tally the funds raised and time spent volunteering, I was astonished at the results. Together as a company, M&IW volunteered 1,913 hours and raised $28,630 for charities all over the world! It gave me goosebumps to look at the numbers and think about the difference that our company made in just one year. I am so proud of the passion that M&IW has for giving back! The Fox Cities team, Big Hearts, Little Hands, selected Big Brothers Big Sisters of the Fox Valley Region and were awarded the 2018 Community Partner Award. “The Meetings & Incentives Worldwide team has been a tremendous blessing throughout the past year. They have volunteered their time at BBBS events, organized a basic needs supply drive in 2017 and a school supply drive for 2018, helped to paint and organize the BBBS Appleton office, and adopted a family in need last holiday season. They barely finish completing one volunteer project before they ask for another. They are a model of philanthropic giving and we are thankful to have them as one of our key partners,” said Lindsay Felon, Executive Director, BBBS.

Our 50 Years/50 Charities drive may have come to an end, but there is no stopping us now! So how do we top that? This year, our focus is on WORLD HUNGER. More than 815 million people, or roughly 1 in 9, suffer from chronic hunger. Even in the United States, 41 million people struggle with hunger.

Our Community:
The first initiative was close to our Global Headquarters in Wisconsin. Our Co-CEO, Jean Johnson, CMP, is helping to start a food pantry in the heart of Racine, WI. At our M&IW Summit, employees were encouraged to donate hygiene items and non-perishable food which were delivered to the food pantry. The shelves will now be stocked when they open later this year. If you are interested in learning more about this give back initiative or supporting the cause, please email marketing@meetings-incentives.com.

The World:
The second initiative was global. We worked with Rise Against Hunger to pack 25,144 meals for children all over the world. That’s right, we put on some stylish hair nets and got to work! It was a really rewarding experience to work as a team to package these meals for those in need. To see our amazing team in action, check out our RISE AGAINST HUNGER video.

We invite you to join us in ending WORLD HUNGER by donating to your local food pantry, starting a food drive at work, volunteering to pack meal,s or make a donation to Rise Against Hunger at www.riseagainsthunger.org.

 

Posted in: Company News, Conferences & Tradeshows, Data Analytics, Business Intelligence & Consulting, Event Marketing & Communications, Event Technology & Mobility Solutions, Group Air Travel Management, Incentive Travel Programs, Pharmaceutical, Medical and HCP Compliance, Program Management & Event Design, Sourcing, Negotiating & Contracting

Leave a Comment (0) →

Is your Organization GDPR Compliant?

Written by Marie Johnson, CMP | Director, Marketing & Strategy

We live in an increasingly digital world where the value of personal data is immense. At M&IW, the safety and security of our customers, employees, and attendees has always been a priority. We have long understood the importance sensitive and personally identifiable information (SPII) and have taken steps to ensure its protection.

However, a lot is happening in the world of the internet and data security. As a result, the EU government has been working on a new legislation known as General Data Protection Regulation (GDPR) that goes into effect on May 25, 2018. This reform is intended to help EU Residents to improve control of their personal data.

“Even though this regulation only applies to citizens that reside in the European Union (including the United Kingdom), we believe it will become a new global standard for data privacy,” said Jean Johnson, Co-CEO and Chief People Officer at Meetings & Incentives Worldwide. “We are approaching GDPR proactively by applying these EU digital communication standards both domestically and internationally.”

M&IW is Privacy Shield certified, and we have worked with Radius Worldwide to complete our analysis of our processes and systems for the GDPR. This analysis and creation of an action plan ensures that we will be compliant with the GDPR regulations by the required deadline as set forth by the EU/UK. To learn more, please check out our report entitled, GDPR 101: The Basics. You may also view our Website Privacy Statement which describes the current policies and practices of Meetings & Incentives Worldwide with regards to Personal Data.

Additionally, we are happy to share that our Data Protection Officer, David Guse, CPA, has achieved the ISO 17024-accredited EU GDPR Foundation (EU GDPR F) qualification from IBITGQ.

We value your partnership and thank you for visiting our website. If you subscribe to our communications, you will soon receive a request to your inbox to ensure you still want to hear from us. If you are not currently a subscriber, we encourage you to Stay in Touch and Get Connected. You will receive fresh, timely, and relevant content on the latest news, industry updates, and emerging trends. You will also be among the first to receive invitations for special offers, complimentary webinars and hosted events.

Posted in: Company News, Conferences & Tradeshows, Data Analytics, Business Intelligence & Consulting, Event Marketing & Communications, Event Technology & Mobility Solutions, Group Air Travel Management, Incentive Travel Programs, Pharmaceutical, Medical and HCP Compliance, Program Management & Event Design, Sourcing, Negotiating & Contracting

Leave a Comment (0) →

The Changing Landscape of Healthcare Meetings

Blog_HCP_Changing_Landscape_Signs

Written by Anne Zambrano | Sr. Manager, Marketing Communications & Creative Services

I had the pleasure of experiencing one our thought leaders in action at the recent MPI-CAC NEXT ’18 conference in Chicago. Susan Arts, CMP, HMCC, a 30-year healthcare meeting veteran and Project Director, Global Operations at M&IW, delivered an engaging presentation on The Changing Landscape of Healthcare Meetings. Many healthcare planners are aware that the worldwide focus on transparency reporting and greater compliance requirements have altered the landscape of planning and executing meetings in the healthcare sector. During her presentation, Susan shared tips, tricks, and best practices as well as provided an overview on where we are currently in terms of government compliance and reporting and where we are headed in the next 12-18 months.

As I came to find out, there are lots of important changes on the horizon and that this environment is only going to continue to be regulated or scrutinized. And, since healthcare is the biggest segment of the meetings industry with over 1.9 million meetings held in the US for a total of 250 million attendees1, I thought it was a good topic to continue to talk about.

The Changing Landscape

GDPR – General Data Protection Regulation: In short, the GDPR is a new law in the European Union that deals with data of EU citizens going in and out of the European Union. Collecting parties will now need to disclose what data is collected, why the data is collected and how the data will be used. This is a hot topic for meeting planners because planners, hoteliers, travel managers, and event suppliers most certainly collect personal data of EU citizens for meetings. Personal data may include financial, contact, medical, travel, IP address and passport information. The law was adopted back in April 2016 and goes into effect on May 25, 2018. Susan recommended that it is a good time for your organization to take a closer look at the regulation, and how you are collecting or using data that is regulated by this law to make sure you have the appropriate practices and disclaimers are in place.

Continuing medical education funding in Europe and Asia: Susan made the excellent point that no longer will manufacturers be able to make direct payments to clinicians to fund attendance at CME events. All the funds must now go through grants to the health systems and accredited CME providers and these institutions will now choose who gets the funds to attend CME meetings. This is and will continue to be a hot topic, learning at a meeting or event is still the number one preferred way healthcare professionals receive their continuing education.

Worldwide Reporting: APAC, LATAM and Canada will soon all be adopting HCP transparency reporting policies and regulations. Susan made the prediction that in the next 18-24 months the transparency reporting regulatory environment that planners experience in the US will be global.

State Regulations: States continue to create and develop their own regulations as it relates to HCP meeting spend and reporting. It is becoming increasingly important to stay on top of and understand not only the changing environment of the federal regulations, but also at the state level. The state level could address meetings being held in that state or address attendee hailing from that state.

Susan concluded with the following important points:

  • Always go into a meeting preparing to be ready for an audit. Planning from the forefront can ease any pain on the backend.
  • Understand the reporting requirements when it comes to transfer of value verses aggregate spend for a meeting.
  • Document, document, document. Look toward new technologies to help streamline and automate documentation.

Finally, how is this going to affect our medical meeting profession? There is a going to likely be a shortage of trained, experienced, medical meeting professionals as well as a potential challenge with sourcing and space, dates and rates in a strong market because of the various interpretations of the regulations and Office of Ethics and Compliance in many organizations putting a cap on room rate allowances for HCPs.

One final, final note: some useful industry resources Susan shared at the end of her presentation:

  • Event Industry Council GDPR Resource Page (www.eventscouncil.org)
  • GDPR Awareness Coalition (gdprcoalition.ie)
  • Healthcare Meeting Compliance Certification (HMCC) – available through MPI (www.mpiweb.org)
  • Pharmaceutical Research and Manufacturers of America (PhRMA) (www.phrma.org)
  • European Federation of Pharmaceutical Industries and Associations (EFPIA) (www.efpia.eu )
  • My Compliance Wizard (subscription) (www.mycw.info)
  • Accreditation Council for Continuing Medical Education (ACCME) (www.accme.org)

(1) Events Industry Council Survey

In honor of GMID (Global Meetings Industry Day), we are sharing more thought-leading content on HCP transparency reporting. We hosted a webinar on April 12 as part of our Industry Insight Webinar Series entitled, “The Various Approaches to HCP Transparency Reporting and Best Practices for Industry Standardization, presented by Angie Gross, HMCC, Sr. Manager, Reconciliation & Compliance Reporting, Finance. If you missed it, you can catch it on demand. Just click the video below.

 

 

 

Posted in: Company News, Pharmaceutical, Medical and HCP Compliance, Program Management & Event Design

Leave a Comment (0) →

4 Key Trends in Medical Meetings

Medical_Meetings_Cropped_BlogWritten by Naomi Tucker, CMP, HMCC | Senior Strategic Account Manager

Meeting management professionals have a unique role when it comes to the planning and execution of medical meetings. From ensuring the compliance of the healthcare professionals, to reporting and staying on top of trends, there are many complexities. The world of medical meetings can be hard to absorb, especially when the landscape is continually changing. This years’ Pharma Forum brought forth many differing perspectives and highlighted the trends that are occurring within the pharmaceutical and life sciences industry. Below are a few that I see as particularly important in the world of medical meetings.

Content is King

Yes, content is still king. However, we learned content can get complacent. That is why many pharmaceutical companies have a renewed focus on delivering the right content in the right manner to healthcare professionals. It is also important to note that the way content is being received is changing. Healthcare meetings are now becoming more engaging, encouraging the attendees to be more than spectators at their events. This can be achieved with specific meeting technology that is focused on enhancing attendee participation. For example, Educational Measures and MeetingPlay are both applications that can be used to increase engagement at meetings and make them more lively, inspiring, and interactive. This trend is making the consumption of content more desirable by the attendees through interaction and delivering more value to the organizations.

Is there an App for That?

There is an increase in the usage of mobile applications in medical meetings. No longer are attendees subject to waiting until the day of their event to interact with others attending the meeting. Attendees can have increased interaction with their peers and industry colleagues through mobile applications, and usage is on the rise. Mobile platforms such as Attendify and Crowdcompass help elevate the experience of events. Customized agendas, person-to-person chat forums, speaker bios, and activity pages are all common elements of these apps that are a value add for any medical meeting. If you are a meeting professional that hasn’t used a mobile app, be prepared for this trend coming to your medical meeting soon.

The Expanding World of China

Working on medical meetings in China, in the past, have been few and far between. However, now many pharmaceutical and life sciences companies are expanding within the country of China. This new landscape is creating more opportunities for face-to-face interactions, and in turn, more medical meetings. Not only will the meeting professional have to be well-versed in the compliance restrictions and regulations, they will also have to ensure they are up-to-speed on the cultural phenomena of planning medical meetings in that area of the world, as well.

Mergers and Acquisitions

We are seeing an increase of mergers and acquisitions (M&A) for companies within the life sciences and pharmaceutical industry. At times, these changes within the structure of organizations can create a gap in which third-party meeting planning agencies can help fill. There are also complexities in how medical meetings come together within the new organization. It is helpful to know about the intended change whether it be a merger or acquisition to ensure the meeting you are planning is taking in to account all types of attendees and collecting the compliance-related information needed for the event or conference to be successful.

Looking Forward

It is important to have a constant flow of knowledge, education and peer support to help balance unprecedented changes, tackle tough regulations, and stay on top of trends. With the changing landscape in this highly-related niche industry, working with professionals who specialize in the nuances of medical meetings can greatly alleviate challenges in the long run and create successful, engaging and effective outcomes.

Posted in: Company News, Event Technology & Mobility Solutions, Pharmaceutical, Medical and HCP Compliance, Program Management & Event Design

Leave a Comment (0) →

What it Takes to be a Medical Meeting Expert

Pharma_Forum_2017_Medical_Meetings

Written by Marie Johnson, CMP | Director, Marketing & Strategy

Several of our M&IW team members are getting ready for their annual journey to the most compelling and comprehensive meeting management event for the life sciences industry. In its 13th year, Pharma Forum represents the world’s largest gathering of stakeholders with more than 800 attendees in 2016 dedicated to elevating the design, planning and execution on a broad range of medical meetings through three days of education, engagement and empowerment.

“With decades of medical meeting planning experience in the increasingly complex and highly regulated pharmaceutical, biotech, healthcare and life sciences industries, this is a critical educational conference for our organization. M&IW is proud to continue our partnership and support of the Pharma Forum in 2017, and we look forward to bringing the education and networking of this event to even higher levels,” said Dan Tarpey, HMCC, Vice President of Sales and Marketing.

Dan is a “repeat attender” of the conference for the value it delivers not only to our team, but also to our clients because of our increased breadth of knowledge and depth of experience. Pharma Forum is the leading engagement opportunity for meeting and event professionals that are part of the healthcare sector. The collective experience and brainpower of the presenters, corporate planners, third-party professionals, and industry suppliers far surpasses any conference of its kind in the industry.

In addition to professional conferences, at M&IW we continue to look for opportunities to engage, partner and grow with our clients for better outcomes. In fact, a couple of years’ back we hosted a Healthcare Meetings Compliance Certification course. Almost two dozen individuals within our sales, account management, global operations and finance areas along with some of our clients participated in the training. To convey this crucial information, we enlisted the training expertise of Patricia Schaumann, CMP, CSEP, DMCP, HMCC who was the Director of Professional Development, Healthcare Sector at Meetings Professional International.

The HMCC course is a perfect fit for M&IW with approximately 60% of our meeting volume in the pharmaceutical and life sciences industry. The education platform examines the fundamental information on healthcare compliance regulations, laws and techniques for managing healthcare meetings. After the training, we asked our team about their experience. “Since I’m involved on the front end, it was eye-opening to hear some of the issues and challenges that planners face onsite,” explained Vicki Schmitz, HMCC, Assistant Manager of Global Procurement. Whereas, Jessica Menzer, HMCC, Account Lead, keyed in that the rules we follow aren’t necessarily laws, but client interpretations of laws.

Angie Gross, HMCC, added a unique perspective as she is immersed behind the scenes as our Manager of Healthcare Compliance and Reporting Operations. Angie felt this training gave everyone the same information and provided crucial compliance regulations information that will assist in reporting efforts and provide heightened credibility when presenting reporting best practices to clients. “Often when clients and planners are unaware of the actual legal guidelines they all do things a bit differently. M&IW has worked out a system on streamlining this process based on current regulations and making sure planners in this area of expertise are armed with HMC information,” explained Angie.

“Accredited knowledge is powerful!” explains Naomi Tucker, CMP, HMCC, Sr. Strategic Account Manager. “The HMCC course gave us the credibility and knowledge to educate our clients on the standards as it applies to the law on Open Payments. And, by continuing our professional development and staying current on changing regulations in the field, we can guide our clients on what they need to do to be successful, yet compliant, for their meetings.”

 

 

 

Posted in: Company News, Conferences & Tradeshows, Pharmaceutical, Medical and HCP Compliance

Leave a Comment (0) →

M&IW Campus Week Brings Industry Leading Content

Banner - CW Final

Written by Anne Zambrano | Manager, Communications and Creative Services

During the M&IW Client Summit on Thursday, September 8, our resident subject matter experts will be leading engaging roundtable discussions designed to Go the Distance for today’s travel and event professional. We had the opportunity to catch a sneak peek of the topics and presenters. Here is a highlight of what they told us in our one-on-one interviews:

Tech Talk
Hosted by Tim LaFleur, CMP, Director, Mobile Strategy and Global Procurement – Suppliers & Chip Begley, Manager, Program Website & Mobile App Services, IT & Web Design

Our techies plan to cover two extremely hot topics that still cause a bit of confusion and mystery for most planners – Mobile Apps and WiFi/Internet.  Many planners want to know the variety of features and how various solution providers manages those features. When it comes to App solutions the devil is in the details and the details can make or break an effective meeting app. Similarly, there is so much still to learn about WiFi. Our tech experts will demystify the often confusing and misunderstood topic to allow planners to better manage internet needs for their meetings and events.

Participants will take away some basic next level thinking and be able to answer, “What does this all mean for me the planner?” This discussion will dive deep into the practicality of the topic by covering all the considerations that go along with it that can affect your work, the app and the attendee experience.

Talk Tech goes the distance by going further and digging deeper into a commonly discussed topic and challenge for today’s planners.  Much of the discussion that people are having regarding these topics only go about halfway leaving all sides without the proper understanding about what the other is saying.  This engaging roundtable discussion will aim to “Go the Distance” to create good, enriching and intelligent conversations about these topics where there hasn’t necessarily been in the past.

Event Planning Trends and Best Practices
Hosted by Christine Matias, MA, Director, Global Program Management Services, Steve Lorenz, CMP, HMCC, Senior Program Manager, Global Meeting Services & Ella Darby, Program Manager, Global Program Management Services

Our Event Planning Specialists will cover a plethora of topics during their engaging roundtable discussion from paperless meetings to shorter lead times and from the latest F&B trends to virtual meetings. Participants will leave with a great overview of the current trends affecting the industry and a better understanding of how we can all collaborate together to keep up with and change alongside them.

Event Planning Trends and Best Practices goes the distance by bringing to light current trends and trends on the horizon. Planners need to know where these trends are headed to know which road will help them “Go the Distance.”

Small Meeting Hotel Contracting
Hosted by Vicki Schmitz, VICKI SCHMITZ, HMCC, Manager, Global Procurement – Hotels

Small Meeting Hotel Contracting will reveal best practices in contracting specifically for small meetings. A high percentage of our client’s meetings are 75 guest rooms on peak or less and in most cases, these meetings have less than three months of lead time. During this engaging discussion, we will offer best practices that have helped today’s small meeting planner streamline the contracting process in order to expedite the final contract and give our clients the tools and resources to effectively prepare and plan for a successful meeting. Our featured hotel partners will disclose how they manage their small meeting contracts so participants will get an inside look from the hotelier viewpoint leading to a real discussion on ways to collaborate together to achieve success on both sides.

The audience will learn ways their industry partners are handling short term meetings and be able to take some of these ideas back to their own team to implement. In most cases, we all face the same challenges – especially in a seller’s market.   From a sourcing perspective, we all run into similar obstacles… limited availability, competitive rates and less flexibility.

Go the Distance is a constant theme for Sourcing. Buyers continue to strive to find clients the best possible options for their meetings to assist in achieving their meeting goals. We continuously work with our hotel partners to find the best possible fit and pricing. Understanding the dynamics from all angles and how to best collaborate together is where we all can “Go the Distance.”

Posted in: Company News, Conferences & Tradeshows, Data Analytics, Business Intelligence & Consulting, Event Marketing & Communications, Event Technology & Mobility Solutions, Incentive Travel Programs, Pharmaceutical, Medical and HCP Compliance, Program Management & Event Design, Sourcing, Negotiating & Contracting

Leave a Comment (0) →

Top 10 Reasons to Collect Relevant Data

Data, Analyses, Insight, SMM

Written by Jill Pearson | Digital Marketing Manager

Data analytics is the science of collecting and examining raw data with the purpose of drawing conclusions about the information. These analyses are used by organizations to make better business decisions, especially where change is the outcome. In Strategic Meetings Management (SMM) there is a plethora of data available for collection, analysis and reporting, however the relevance of the data depends on the questions requiring answers. Thus, answering the ‘why’ of needing the data is a great place to start. Below is a list of Top 10 Reasons to Collect Relevant Data from our expert contributors, David Sachs, Director of Analytics and Lisa Palmeri, VP of Strategic Account Solutions.

1. To support the need for a change in operations or process.

People often fear change, especially without supporting data to validate the need for it. Many times we see a need for a change in a process within our organizations but approaching policy-makers with your opinion or gut instinct will not hold much ground without concrete data to support it. In today’s metrics-driven world, data is required in order to institute change or justify a business case for it.

2. To gain visibility to the unknown.

Industry professionals are smart! Our intuition often guides us when making key decisions, however data is useful in proving our instincts right. Actionable insights add clarity to the unknown which will support or challenge a theory, both of which are invaluable in decision-making.

3. To reduce risk.

Why is it that an employee cannot purchase a stapler without following certain protocols, but they can enter into a hotel contract for a meeting with little or no scrutiny? Often, people tasked with planning meetings and events in an organization are not meeting professionals, but rather meeting planning is a part of their job responsibilities. As such, they are not experts in understanding and negotiating the terms of a meeting contract and sign agreements that may not support the best interests of their company. This practice exposes both the individual signing the agreement as well as the organization to risk should an issue arise with the contract, or in the event the meeting cancels and penalties are assessed. There are also terms that, if not properly addressed or omitted, could jeopardize the safety or well-being of attendees of that meeting. Having historical bid data or analytics that identify suppliers with whom it’s safe to do business, or to support professional procurement practices, can reduce or eliminate this risk all together.

4. To demonstrate compliance with regulations.

No one wants to be called out for non-compliance. Whether it’s following company policies, regulatory guidelines, accounting principles, or laws, being compliant is key to job security. This is especially critical to health care and life sciences organizations who need to demonstrate compliance to Health Care Professional (HCP) transfer of value transparency laws. It’s not enough to have regimented processes for transparency, government entities want to see that the data is reported in such a way that it meets the letter of the law(s). That is why at M&IW we have a dedicated HCP reporting department whose sole job is to support the compliance needs of our clients.

5. For Executive Management support of a new idea.

Executive management, especially in publicly held companies, are being tasked with ensuring that all the decisions they make support quarterly earnings! It’s fun to be the initiator of a new idea with the potential to dramatically streamline a process, improve the bottom line and increase those earnings. Many such opportunities exist when implementing a Strategic Meetings Management Program (SMMP). As mentioned in point #1, suggesting new concepts may be admirable, but they won’t go very far without analytics to support them. It’s not enough to illustrate historical evidence that the innovation could improve the bottom line. Often predictive analytics are necessary to project how that idea will benefit the organization going forward. Leverage data to build a business case for specific elements of an SMMP that will yield the highest ROI or provide other tangible benefits to the organization.

6. To build stronger partnerships with key suppliers.

Knowing what you spend and with whom is the first step in establishing preferred or strategic supplier partnerships. These relationships work best when they provide a win-win for both parties. Suppliers are looking for increased market share (a larger piece of the pie as compared to their competitors) in exchange for discounts and other financial incentives. This leads us to a common failure with SMM implementation. Most SMMPs go in with a consolidation approach that is challenging, especially in today’s suppliers’ market, to build compliance around. While it’s good in theory, management also doesn’t want to micro-manage or otherwise mandate the use of suppliers. A better approach is to align with partners with whom your organization naturally gravitates towards, whether because they provide a level of service meeting managers and attendees can depend on, they are geographically well-positioned, and/or they offer financial benefits already that may be improved upon as market share increases. Regardless of the approach in selecting key suppliers with whom to partner, having the data that supports who to approach in the first place is a critical success factor.

7. To leverage greater amounts of spend in order to put into place spend controls.

How do you determine spend controls or thresholds? Establishing spending baselines can be challenging if you are limited to using industry benchmarks simply because there aren’t many meetings-related benchmarks available to reference. Reviewing your organization’s spend data on common elements such as guest room rates, meeting space rental and meals, by city and/or time of year, can lead to spend limits or controls that make sense.

8. To validate cost avoidance and savings.

Cost savings and avoidance are often cited as the number one reason organizations will deploy a managed meetings program. Unless you have a consistently applied methodology to track and report in these areas, you may be challenged in understanding if real savings is being achieved. Data validates your cost savings and avoidance efforts and can serve to identify trends and opportunities for more strategic negotiations or cost-cutting measures. When it comes to saving money, knowledge is power.

9. To validate ROI.

As previously mentioned, measuring the performance and success of a managed meetings program includes the ability to report out on Return on Investment. ROI can be measured in several different contexts. Starting at a high level, measuring an SMMP’s overall program ROI based on the cost to run the program as compared to the savings and cost avoidance delivered. Often, companies deploying meeting management software are tasked with validating the ROI on technology expenditures versus efficiency gains. At a more granular level, ROI may be measured for certain types of meetings in which a financial benefit is an expected outcome. This is commonly measured in sales and marketing related meetings and events, where increased sales and revenue are compared to the cost to operate the meeting.

10. Drives innovation in event attendee experiences.

Collecting data from an attendee level is a must to the success of future events. Today’s meeting attendees expect to engage with their fellow attendees before, during and after an event. They expect to connect using social media, to be recognized and to experience some degree of personalized service while at the meeting. Event apps are becoming very sophisticated and are able to offer many innovative solutions. With the massive amount of data apps are capable of collecting; event professionals can gain valuable insight into attendee’s preferences and drive new innovative initiatives. Data drives attendee satisfaction thus supporting your events’ ROI.

Download our Collecting Relevant Data to Affect Change handout to learn more. It features the top 10 list along with SMM scenarios for capturing data and the best practices of successful organizations. Interested in receiving additional resources and updates to your inbox? Simply click the Subscribe Today button below.

Posted in: Company News, Data Analytics, Business Intelligence & Consulting, Pharmaceutical, Medical and HCP Compliance, Sourcing, Negotiating & Contracting

Leave a Comment (0) →

Welcome to our New Blog — M&IW Industry Insights!!

Written by Marie Johnson, CMP | Director of Marketing and Strategic Development

We are thrilled to introduce you to our new blog — M&IW Industry Insights. This is the place where we’ll share our thoughts on ideas that will shape your business and disrupt the industry. Look forward to fresh, timely, and relevant content on our latest news, happenings, activities, and emerging trends from M&IW thought leaders.

At M&IW, we bring people together for successful outcomes. But more importantly, we believe live meetings and events transform organizations. We also know success is best achieved in true collaboration with our valued clients, talented associates and industry partners. As part of that philosophy, we are creating more opportunities for you to interact with us. Stay tuned for upcoming events, free webinars, and valuable resources.

To make sure you are always up-to-date on M&IW, we invite you to join our email list. Not ready to commit? That’s okay. Simply explore all of the great information on our website, watch our brand essence video, or connect with us on social media.

Posted in: Company News, Conferences & Tradeshows, Data Analytics, Business Intelligence & Consulting, Event Marketing & Communications, Event Technology & Mobility Solutions, Group Air Travel Management, Incentive Travel Programs, Pharmaceutical, Medical and HCP Compliance, Program Management & Event Design, Sourcing, Negotiating & Contracting

Leave a Comment (0) →