Cvent Tames Unmanaged Corporate Spend: Meetings and Events
SMM Starter Kit Provides Easy Solutions to Get a Comprehensive Program off the Ground
Tysons Corner, Va. – Cvent, Inc. (NYSE: CVT), a leading cloud-based enterprise event management platform, announced the availability of a Strategic Meetings Management (SMM) Starter Kit designed to simplify implementation of SMM programs. The Starter Kit provides organizations of all sizes, not just Fortune 100 companies, with easy solutions to help launch and implement a comprehensive program. Additionally, organizations can leverage a savings calculator, meeting policy, and valuable advice from industry-leading consultants at no charge.
Cvent has helped hundreds of Global 5000 companies and mid-market organizations implement successful SMM programs over the last several years, said Anil Punyapu, vice president of enterprise sales at Cvent. During the discovery phase with our new customers, we encountered a commonly held misperception about these programs. Specifically, that they were too difficult, cumbersome, and expensive. We created the SMM Starter Kit to provide the marketplace with the basic building blocks needed to launch an effective program, quantify meeting expenditure, and create a case for meetings management across an organization, which can all be accomplished in just a few short months.
Meeting expenditure represents one to three percent of a companys total revenue, and over 24 percent of the average companys marketing budget. By implementing an SMM program, organizations can simplify hotel sourcing, reduce risk, and automate processes, thereby achieving an average of 20 percent savings while driving higher client interactions and revenue.
One of the main benefits of the Cvent SMM Starter Kit is a complimentary consultation with some of the industrys top SMM thought-leaders, providing event professionals with essential insights during their SMM program implementation. The SMM Starter Kit also offers additional advice and best practices throughout the course of this implementation, including crucial guidance to help:
- Build a Business Case for Meetings Management: The template outlines the key considerations for a successful business case, including outlining the current situation, providing the objectives of the program, identifying risks, proposing and justifying a strategy, calculating expected results, selecting technology, and defining a rollout plan. A PowerPoint template is also included for executive presentations.
- Measure Return on Investment: The ROI Calculator enables planners to calculate their potential cost savings and optimize their resources. Cvents ROI Calculator also shows the percentage of ROI in meetings management technology for the organization, so planners can budget accordingly for the future.
- Establish a Communications Plan: The Communications Plan template provides meeting planners resources to assist them with generating adoption of an SMM program throughout their organization.
Cvents SMM Starter kit has been available for less than 60 days, and more than 350 organizations have already downloaded it. For more information about the new offering, visit www.cvent.com/bizcase
About Cvent, Inc.
Cvent, Inc. is a leading cloud-based enterprise event management company, with tens of thousands of customers and more than 2,700 employees worldwide. Cvent offers software solutions to event planners for online event registration, venue selection, event management, mobile apps for events, email marketing, and web surveys. Cvent provides hoteliers with an integrated platform, enabling properties to increase group business demand through targeted advertising and improve conversion through proprietary demand management and business intelligence solutions. Cvent solutions optimize the entire event management value chain and have enabled clients around the world to manage hundreds of thousands of meetings and events. For more information, please visit Cvent.com, or connect with us on Facebook, Twitter or LinkedIn.
"Safe harbor" statement under the Private Securities Litigation Reform Act of 1995
This news brief contains forward-looking statements, including statements relating to the expected functionality and impact of Cvents SMM and SMM Starter Kit offerings. The achievement or success of the matters covered by such forward-looking statements involves risks, uncertainties and assumptions. If any such risks or uncertainties materialize, or if any of the assumptions prove incorrect, Cvent's results could differ materially from the results expressed or implied by the forward-looking statements we make. For a detailed discussion of these and other risk factors, please refer to the risks detailed in Cvent, Inc.s filings with the Securities and Exchange Commission, including, without limitation, our Annual Report on Form 10-K filed on March 16, 2015, Form 10-Q filed on May 11, 2015 and other reports and filings with the Securities and Exchange Commission.