The Past, Present, and Future of Spend Management
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Jeannie Griffin from Cvent joined Cindy Heston and Linsey Giant from Anthem to discuss the importance of spend management.
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The Past, Present, and Future of Spend Management
- 1. Tech Talk: The Past, Present & Future of Spend Management Linsey Giant | Anthem Cindy Heston | Anthem Jeannie Griffin | Cvent
- 3. What is P2P?
- 4. Supported by CVENT platform Partially or Not Supported by CVENT
- 5. P2P Maturation How much am I spending on meetings? How much do meetings really cost me? How much control do I have around the process? PHASE 1 PHASE 1 PHASE 2
- 6. What is working today?
- 8. Case Study: Anthem Setting a new standard
- 9. Solution Overview • Integration of Cvent Meeting Request Form • API of identifiable expense criteria • Open bi-directional feed of data that ensures proper analytical event management • Provides integrated work flow for efficient planner reconciliation • 25% improvement in time management
- 10. New Meeting Card Amex Feed
- 13. Selection of Expense Types (meeting card workflow added)
- 14. Selection of expense types (meeting card workflow added)
- 15. Event Selection via Allocation Select new Event via the allocation These can be filtered by Event Planner via Allocation filtering We can setup so only Event Planners can use the “event” expense types *not viewable by individual corporate card users
- 16. 15+ fields are pre-populated from the Cvent Meeting Request Form
- 17. Welcome Page – Access to Budget
- 18. Event
- 20. Anthem Advantage- Stakeholder Benefits TODAY Total transparency of event budget Allocation and warnings if close to budget TOMORROW View of travel expense Input of other ERP data related to event
- 21. Anthem Advantage – Planner Benefits Streamline of data entry Accuracy and visibility into budget Redundancy eliminated for budget management Ownership and consultative client work flow
- 24. Cvent Solutions
- 25. API Benefit: Create dynamic workflows that provide efficiency and data accuracy
- 26. MRF Benefit: Standardized form that collects meaningful data and metrics for your company
- 27. CONCUR EXPENSE Benefit: Find out how much meetings really cost by pulling ancillary traveler spend in addition to meeting spend
- 28. CITI CARD Benefit: Centralize form of payment while maintaining stringent controls, but provide reconciliation efficiency
- 29. TRAVELCOST IMPORT Benefit: Leverage data already housed in Cvent to populate budget actuals for maximum efficiency and accuracy of data
- 30. BEFORE YOU GO! Take the session survey!
- 31. Thank You Linsey Giant | Anthem Cindy Heston | Anthem Jeannie Griffin | Cvent
Editor's Notes
- Why focus on spend management? ROI of events – per Aberdeen track ROI of events 2nd highest driver (42% respondents) for a managed program; 43% of meetings management leaders in SMM actively track Assists with Resource Management Data Integrity – you have multiple systems in play and a lot of manual data entry MOST IMPORTANTLY – how many of you have been asked how many meetings you hold and what is your spend/predicted budget?
- PO, Procurement, Invoicing, Contracting, Reconciliation, Budget Approval and Workflow
- Review diagram
- Cvent trends show adoption of budget tracking / Aberdeen study of SMM shows 70% leaders in the space track spending Client feedback top request is to have simple input for end user actual spend entry Card programs on the rise – need stat
- Too many stakeholders in the mix – finance, meetings, procurement, travel, planners Leakage from smaller meetings that are not a high priority or concern Lack of consistency in how data is tracked and what that means to different stakeholders GETTING INFORMATION IN Leads to Cindy/Linsey introduction of how they are automating the process
- Cindy and Linsey to provide
- Selection of expense types (meeting card workflow added)
- Selection of expense types (meeting card workflow added)
- Event Selection via Allocation Select new Event via the allocation These can be filtered by User via Allocation filtering We can setup so only certain expenses can use these “Event” allocation This will ensure only users that need to see Events, dynamically
- Events – Data behind the scene
- Welcome Page > Access to Budget
- Welcome Page > Access to Budget
- Allows you to pull, add, or update data in Cvent from other systems Lookup and validate information entered in Cvent with other systems
- Allows you to pull, add, or update data in Cvent from other systems Lookup and validate information entered in Cvent with other systems