Major pharmaceutical firm’s new internal meetings process demonstrates the power of a strategic meetings management program.
The challenge: A U.S. subsidiary of a major European pharmaceutical company had too many people booking too many internal meetings outside of its internal meetings team. That meant the company wasn’t realizing volume-based savings on the more than 16,000+ room nights it booked annually for a wide variety of employee gatherings. These meetings averaged 29 attendees, but sometimes included as few as 10 people or as many as 600. In addition, some employees were signing contracts with hotels and meeting spaces without proper authority, opening the door to potential problems with recordkeeping, logistics and liability.
The company asked BCD Meetings & Events to assist with the launch and operation of a strategic sourcing initiative for its internal meetings, including:
- Establishing and codifying new internal meeting processes
- Educating employees who book meetings about the new process
- Leveraging agreements with preferred suppliers to improve savings and service
- Selecting and implementing a new meetings technology provider
- Collecting data and reporting on program results
The solution: To educate the pharmaceutical firm’s employees on the new process, BCD Meetings & Events and client representatives went on a road show to different company offices. In addition to explaining the new procedures—designed to save the bookers time and save the company money—the team also explained a procedure that was key to the program’s ultimate success. Part of the program includes hotel contract review. BCD Meetings & Events experts will review only one out-of-policy contract for bookers who do not go through the new, mandated procedure to book their meetings. If the booker arranges a second out-of-policy meeting, he or she is required to sign contracts with providers without expert guidance or to seek legal review. That had an immediate effect: Bookers are hesitant to sign contracts without access to review by meetings experts or to seek time-consuming legal review. So, most follow the new procedures.
The result: BCD Meetings & Events implemented the internal strategic program in five months and a new technology platform in less than eight weeks. Almost immediately, the new program for internal meetings saved money—adding up to 19% savings in the first full calendar year, in which about 725 meetings took place. But cost-cutting was only one benefit. With BCD Meetings & Event’s guidance, the client also was able to leverage newfound volume-buying power to secure higher-quality meeting space; increase hotel room availability for its meetings; and simplify its entire internal meetings process through standardization and clear protocols. The company now is working with BCD Meetings & Events to expand the program and create online videos to further educate employees on the new protocol for internal meetings.
