AIG is a multinational finance and insurance corporation with operations in more than 70 countries and jurisdictions. With over 46,000 global employees, AIG manages a broad portfolio of events. Prior to adopting Cvent event technology, AIG’s meetings and events program struggled with disparate solutions, processes, and data sources.

APPROACH

Establishing a best-in-class Strategic Meetings Management Program with Cvent

To support their newly founded SMMP in 2016, AIG adopted several technology solutions from Cvent. These included the Strategic Meetings Management tool, Registration solution, Meeting Request Form (MRF), Budget Module, Access Portal, Cvent Supplier Network, and more. With these technologies in place, AIG was able to establish a clear and defined meeting policy and centralize their meeting operations. They could also accurately track spend and drive increased cost savings for the business.  Importantly, enterprise-wide program adoption helped create more consistent data and reporting structures.

Though a recent organizational restructure now means Francesca and Sonia sit in different divisions, they continue to collaborate to support the program. Francesca manages the overall SMMP, including policies, processes, and system administration. She also manages contracts, venue sourcing, and master service agreements with vendors. Sonia oversees the overall meetings and events program, driving end-to-end success across planning processes, including budget reconciliation, reporting, and more. 

Requesters must also adhere to compliance guidelines within the meeting policy, including regulatory policies for gifting and other government mandates such as CCPA and GDPR. “There are policies around these that are included in our Meeting Request Form, and those notifications go directly to those officials, who also receive reporting,” Sonia explains. Routine reports are pulled for compliance, regulatory, and auditing departments, and the data is continuously reviewed to ensure its integrity. Additionally, requested alerts such as travel alerts are integrated through auto notifications and reports. The global security team is able to track travel through these alerts and reports, particularly for restricted or high alert destinations.

Creating venue sourcing efficiencies through the Cvent Supplier Network 

Strategic venue sourcing requirements outlined within AIG’s meeting policy help drive efficiencies throughout the sourcing process. As an example, events with a budget of $5,000 or more require employees to go through AIG’s dedicated venue sourcing services team. They use the Cvent Supplier Network (CSN), a centralized network comprising over 300,000 global venues, for all venue sourcing. This also ensures individuals are restricted from contacting hotels directly, thereby providing the team with a complete view of all sourcing activity. 

Providing valuable cost savings for AIG using Cvent solutions

By utilizing Cvent’s Strategic Meetings Management solution, the team is able to effectively track spend and provide cost savings for AIG. Having a centralized view of all meeting data means they can better negotiate rates with suppliers, reduce expenses, and ensure continued compliance. This is particularly valuable in the current market where organizations across the industry are seeking additional cost-saving measures.

As part of their governance practices, AIG maintains strict budget reconciliation requirements. They can identify discrepancies, prevent fraud, and ensure compliance with financial policies and regulations, leading to increased transparency, accountability, and cost optimization. Cvent's Budget module provides AIG with a comprehensive view of their meeting and event expenses so they are able to track spend in real-time, identify areas of overspending, and optimize their budgets. Importantly, Francesca and Sonia created automated workflows for out-of-compliance meetings to ensure proper visibility and approval by their team. This includes a 90-day reconciliation requirement and a budget variance threshold of 10%. “We have a budget variance planning status built in where it automatically triggers notifications back to the requester to justify that variance and goes back to the approver for acknowledgement,” Sonia explains. Cvent’s Budget module helps capture the cost of each item for accurate reporting, empowering the team to make data-driven decisions, maximize ROI, and achieve significant expense reduction.

Driving company-wide meeting policy compliance at AIG 

To help drive continued adoption amongst their internal employee base, Francesca and Sonia maintain global oversight of the entire program. Centralizing their meeting operations ensures they have full visibility into all meeting activities. “From an administrative standpoint, we communicate all policies and procedures, and we maintain spend,” Sonia explains. They also perform regular audits of user and account data to optimize technology utilization, allowing their team to act as gatekeepers of all data coming through Cvent. 

Partnering with Cvent Professional Services to optimize SMMP success

Importantly, Francesca and Sonia have evolved their program over the last several years to meet changing business needs. They regularly evaluate the potential impact of requested changes, though they admit these are rare. “It’s important to reduce complexity in the program, only enacting changes that add value across the board,” notes Francesca. “That’s where the directives come from - first the policy perspective, and then the business needs and requirements.” Once changes are implemented, the team offers dedicated training, documentation, and checklists to mitigate issues with policy adherence.

These changes can sometimes necessitate support from Cvent’s professional services teams, specifically working with a Project Manager to help with implementation for streamlining complex internal processes. For instance, one division's multi-level approval process posed a significant challenge for internal stakeholders. AIG updated its policy to include designated internal delegates who were responsible for supporting the approval process, thereby streamlining the experience for those stakeholders. When one delegate left the organization, AIG partnered with Cvent to help restructure the entire workflow quickly and efficiently. This close partnership allows AIG to continuously optimize program performance without taxing their resources.

RESULTS

Effective strategies for evolving meetings management in a dynamic industry

The evolution of the industry over the last few years has brought about significant changes, prompting companies like AIG to leverage their SMMP to manage unexpected challenges. During the global health crisis, AIG was able to quickly mitigate risk and identify cost-saving opportunities for the business by leveraging their established meetings program.  Sonia explains, “It helped our organization tap into resources and ensure everyone's safety.” 

LOOKING FORWARD

Fostering continued meeting and events program success at AIG

In the near future, Francesca and Sonia aim to continue strengthening governance policies across their SMMP by increasing compliance while enforcing stricter user visibility and access controls. To better meet strategic business goals, they leverage regular reports to evaluate system registrations, sourced venues, satisfaction scores, and so on. They’re also working to identify additional cost-saving opportunities to mitigate the challenges of the current economic landscape, such as optimizing their global sourcing and procurement process.

Francesca and Sonia are confident that these efforts will advance their program success and are excited to deepen the Cvent relationship in the meantime. They look forward to the continued positive impact of this program on AIG as a business, regardless of any challenges that may arise within the industry. Sonia notes, “The industry has changed and organizations are navigating this change, but the SMMP has proven its value.” 

PRODUCTS USED

Capital Group Companies is one of the world’s largest investment organizations with a presence in North America, Asia, and Europe. “We’ve been around for 90 plus years and manage more than $2.5 trillion in assets as of March, 2024," explains Ajith Krishnankutty, Vice President of Experiential Marketing. With close to 9,000 associates across 31 offices globally, meetings and events play a key role in driving client and employee experience for the organization. 

BACKGROUND

Aligning events with Capital Group’s strategic goals

In 2018, shortly after joining Capital Group, Ajith began assessing the organization’s existing events program in relation to the larger business strategy. “We needed to think through the transformation of data, technology, talent, process, and experience,” he says. Capital Group's events program, which involved over 300 annual hosted and attended events, lacked a unified approach, with largely undefined processes that were scattered across the organization. Ajith’s team identified opportunities to strategically align events with organizational goals while scaling the program through automated technology, which would in turn provide important efficiencies for the business.

First, Capital Group needed to differentiate its event strategy within a competitive landscape for the Financial Services industry. Ajith recognized the need to leverage technology and provide innovative experiences for their clients in order to set their events apart. While Capital Group had a longstanding relationship with Cvent, they primarily used only the Registration solution. Ajith explains, “We really needed to look at the possibilities of how we could essentially use Cvent as a platform, rather than a tool.” 

GOALS

A critical shift in integrating events into the marketing mix

With a consistent and unified meeting strategy in place, Ajith began assessing the Capital Group’s larger program requirements. “The focus became on looking at our clients’ unmet needs, the structure of the events, and the reason behind the execution of those events,” he says. Moreover, they needed to better understand how to cater to their clients’ industry-specific requirements. “From a financial industry perspective, it’s all about exclusive access, so how do you give that exclusive access to these investment professionals?” he explains. With strict industry regulations in mind, Capital Group needed to carefully design their events program to meet those requirements. “On the hosted side, it’s about being incredibly thoughtful and intentional about the enrichment and client engagement,” Ajith adds. “On the sponsored side, it’s about brand and reputation.” 

As a leading asset manager with a 90+ years history, Capital Group recognized the need to adapt its strategies to new market developments, such as entering the ETF space. As a result, their go to market strategies needed to evolve in how they viewed events within the larger marketing mix. They recognized the limitations of traditional tactics like white papers in being able to quickly address market volatility and investor concerns. Events provided a more immediate and impactful platform for engaging with clients and delivering relevant information. By bringing events directly within the marketing function, they could more fully capitalize on these opportunities. “Events are now an integral part of our marketing channel, and we’ve been able to touch more clients and have much more meaningful dialogues as a result,” says Ajith.

APPROACH

To address this challenge, the team adopted a data-driven approach. They analyzed average cost, lead time, and capacity metrics across their events to establish a baseline data set, and then overlaid additional criteria like experience, content, and technology needs. This resulted in establishing a three-tiered approach, namely Tier 1, Tier 2, and Tier 3 events. Each tier is defined by specific requirements like execution time, capacity allocation, and associated costs. To streamline the event planning process and facilitate decision-making, the team developed their Event Builder technology solution. This tool enables the team to collaborate with clients and create customized event experiences based on their specific needs and preferences. They can easily estimate the time and cost required for each event, allowing for real-time adjustments and modifications. 

This flexibility proved invaluable in optimizing event planning and execution. Ajith’s team is now able to streamline the planning process from an average of two or three months to a matter of weeks, resulting in a roughly 75% increase in time savings. This accelerated planning cycle allows the team to be more agile and responsive in meeting business needs. They’re also able to extend calendar planning to a rolling cycle of 18 months rather than nine months, enabling long-term strategic planning and providing a clearer roadmap for future initiatives.

In assessing each new solution, Ajith explains that the process is driven by a desire for tech stack optimization and improved efficiency. He says, “We were looking at where planners spend their time, and it came down to tasks like managing hotel room blocks in Excel and dealing with a lot of manual work.” As a result, they now use a host of solutions designed to automate processes and alleviate pain points, ultimately streamlining the workflows for their event management and marketing teams. “Even simple things like GDS integrations or Passkey can save someone a week’s time,” Ajith insists. 

Other solutions such as the Attendee Hub and Mobile Event app support audiences regardless of event format. The integrated Registration and Attendee Hub solutions ensure a seamless data flow for event managers, creating a single source of truth for attendee and event data. These solutions also drive attendee engagement while allowing Capital Group to gather valuable insights. With automated data synchronization, event organizers can make informed decisions and deliver personalized experiences for their attendees.

Capital Group is also able to leverage Onsite Solutions like OnArrival to ensure a speedy check-in experience, eliminating lengthy queues and hours spent pre-printing and organizing badges. Session scanning and attendance tracking through RFID or NFC badges not only capture session attendance, but allow event professionals to monitor capacity and track attendance for requirements like continuing education credits. This consistent technology experience provides an ecosystem for Capital Group to leverage the right data and technology across the event lifecycle.  Ajith notes, “From a pre, during, and post-event perspective, Capital Group uses almost every piece of Cvent technology.”

Driving ROI through data-driven decision making 

Ajith notes that the ongoing adoption of Cvent solutions over the last several years has helped transform how the business views event technology. “There’s a fundamental shift in looking at the technology as a platform versus a tool,” he explains. “And now, we look at it as a platform.” He adds that importantly, it’s not just this Cvent technology that Capital Group utilizes. “We’ve started to integrate Cvent with many other software platforms, like Salesforce,” he says. “From a data perspective, it’s vitally important because now everything is in one place.” 

By leveraging these integrations, Capital Group is able to seamlessly manage Cvent in relation to their larger tech stack, unifying their data to get more value out of their investment. Not only does this help centralize operations so they can manage the entire event lifecycle through these integrated tools, but sales and marketing teams can learn about attendee preferences and behaviors to improve audience targeting. From the marketing perspective, this data is then integrated into the system of record to help improve customer engagement and accelerate the sales pipeline. “Data is incredibly important, especially when you're looking at data at multiple folds,” insists Ajith. 

He says they look at both operational data - how the portfolio is functioning in terms of factors like event execution and spend - and post-event return on investment. “The question is then, how do we drive a journey in terms of nurturing that lead and getting a qualified lead?” he says. Integrations with platforms like Salesforce and Marketo allow Capital Group to not only holistically view that data, but integrate it into multiple parts of the organization. “Capital Group has always done a phenomenal job in really looking at that data holistically, and Cvent has been great in helping us compile that data to make it much more consumable and actionable,” he says. 

Embracing innovation through a close Cvent relationship

Cvent has maintained a consultative approach in helping the organization identify opportunities for technology solutions to maximize operational efficiency. “Cvent really played a great role in terms of looking at where we are spending our time and how we can convert that to more efficiency using technology,” says Ajith. Bringing in their IT department to implement the technology as an enterprise solution was critical to the successful adoption of Cvent across the business. “It’s not just about technology, but rather operating smartly,” Ajith says. “I think the ability for Cvent to really show what that North Star looked like was incredibly useful, and I think it really changed the landscape and the way we thought about technology and the business.”

In considering the near future, Ajith looks forward to seeing the innovation tools like Artificial Intelligence (AI) will bring. “For me, that’s what is inspiring and I see that as an opportunity,” he says. “Understanding how to use AI to drive data insights and how technology can be used to drive more efficiency is going to continue as the world evolves.” However, he believes it’s important that we maintain a focus on the people at the heart of the industry in the midst of this rapidly changing landscape. “You have to understand your talent base and then really focus on upskilling your talent,” he advises. He sees a bright future for companies that embrace the power of technology while continuing to invest in their employees, like Capital Group and Cvent. He adds, “So I’m very optimistic in the way Cvent continues to evolve, and everyone at Cvent is amazing . I’m excited to see where the industry as a whole will go next.”

PRODUCTS USED

Neuberger Berman is an investment management firm founded in 1939 with a focus on delivering strong investment results for clients. They prioritize deep fundamental research, investment insight, and continuous innovation to serve their clients. Rose Pasqua Strickland, Vice President - Event Manager, and Donna Gambale, Vice President - Event Manager, work closely with a small team to differentiate Neuberger Berman within the marketplace through over 360 annual events, ranging from small dinners to large, multi-day conferences. 

BACKGROUND & GOALS

Revolutionizing Event Management at Neuberger Berman 

Both Donna and Rose have helped shape Neuberger Berman’s expansive event portfolio over several years. “I’ve been at the firm for over 27 years,” offers Donna. “When we started, everything was manual, from taking RSVPs manually to managing everything in an Excel sheet.” As the volume of events increased, they recognized the need for automation and began exploring internal solutions, but found them to be time-consuming and complicated to use. Moreover, they realized the need to better track event ROI and streamline reporting for stakeholders. “Folks wanted data faster, so we began our search for an event tool that could do everything we needed,” Rose says.

At the time, they lacked a formal database to assign, track, and report on their global event portfolio. Inconsistent processes due to a lack of a formal request form resulted in delays for event approvals and execution, as well as issues managing event budgets. There was no central event calendar or centralized reporting structure to accurately capture the scope and impact of their events program. In addition, lead generation was not optimized due to disparate reporting methods. “All of these pain points were manual processes that took away valuable time from our team when planning events,” notes Donna. “Being a team of three, time management and efficiency is critical to our success.”

APPROACH

Fostering Expertise in Cvent Event Technology 

As Rose and Donna’s small team deepened their experience with event technology, their proficiency grew. “As we became more proficient in using Cvent, we were able to turn around registration pages, websites, email invitations, and so on really quick,” Donna says. Rose agrees, noting that they now consider themselves Cvent “super users.” They can now easily self-manage the tool, creating additional efficiencies for their busy team. Donna adds, “It’s a really easy tool if you’re in it every day, and your skillset just grows and grows as you use it.”

Once they felt comfortable with the established capabilities of the Event Management platform, Rose and Donna began looking at expanding their solution set. “Cvent was easy to use and it provided the resources that we needed at the time, but we also saw there was room for growth,” explains Rose. “As our events grew, we started to see we needed more of the platform.” After attending the Cvent CONNECT industry conference in 2018, Neuberger Berman realized the full potential of the integrated Cvent platform. This experience sparked a renewed sense of excitement as they sought to adopt new technologies, soon after introducing OnArrival, the Mobile Event App, and other solutions to their internal clients.

Additionally, at the Museum of Modern Art event in 2023, OnArrival facilitated the smooth check-in of 650 attendees in 15 minutes. Being able to print badges on-demand provided further efficiencies for the internal team while avoiding needless waste. At a Private Equity Annual Meeting, they were able to manipulate seat assignments in real time while printing badges onsite, which was imperative for VIP tables. The flexibility of the OnArrival solution ensures the effectiveness of streamlining event check-in processes.

As Neuberger Berman integrated additional solutions into their product suite, they were able to centralize their data within a single source of truth and eliminate the need for multiple technology solutions. For example, adopting Cvent’s Survey solutions allowed Neuberger Berman to integrate survey feedback directly into their event management process without needing to sync data between multiple platforms. “We were previously using SurveyMonkey, and that created a problem with two systems that didn't connect,” explains Rose. “We were having to export an Excel spreadsheet and manually send it to stakeholders in another platform, and now we can just do it all right in Cvent.”

Centralizing and Scaling Event Program Success through Strategic Meetings Management

By the end of 2019, the team of three was managing 200 events and faced challenges in providing robust reporting to senior management. This included annual event spend by business unit, event count by business unit, estimate versus actual spend for all events, and compliance attendee reporting. They were also struggling with event assignment and scheduling as their program expanded globally. Rose notes, “At first we were just using the Cvent platform for our team, but this need for faster automation and having everything in one place necessitated a broader solution.”

Delivering Data-Driven Business Decisions

To streamline lead generation for their sales and marketing teams, Rose and Donna also incorporated the Salesforce integration. This creates a seamless dataflow across their event lifecycle, allowing them to automatically sync contact lists and updates and eliminate the need for manual labor as well as the capacity for human error. Through these integrations, they are able to track marketing engagement and overall campaign performance. They can automatically sync contact updates and activities as well as automate task and opportunity creation within Salesforce.

Donna adds that arming their teams with this data has ensured that “Cvent has a name for itself at our firm.” She explains that the team has become the go-to resource for all things meetings and events. “We have an initiative called ‘Actionable Insights,’ which is collecting data on client engagement,” she explains. For each event, they require a form to be filled out within the Meetings Management tool that allocates which product the event is connected to. She notes, “This allows us to better gauge the interest of our clients around certain products, which  results in real leads and real interest.”

RESULTS

Growing Neuberger Berman’s Global Event Program 

Since implementing Cvent in 2012, Neuberger Berman has experienced significant improvements in their processes and procedures. They credit their partnership with Cvent as a key resource in that success. “Cvent support has been a critical resource for our team and we would never be able to implement these processes internally as it would take too many manpower hours, time, and money away from our firm’s day-to-day business,” notes Donna.

LOOKING FORWARD

Both Donna and Rose believe having event professionals included as strategic partners within the business is vital to the success of the larger enterprise. “Event planners finally have a voice at the table” insists Rose. The  influence of meetings and events on overall business success is clear. For example, she says, “One business in particular is now using cross-event reports as part of their compensation, so advisors have to meet certain thresholds of client participants and that goes into their compensation numbers.” 

As Rose and Donna continue to scale their global events program, they credit event technology as an important component of their team’s success. “The only way we’re able to do the number of events that we have is because of the automation, and it really shows you the power of the Cvent platform” insists Rose. She adds that the use of this technology in powering their events program clearly impacts the business on a strategic level, saying, “It’s because we’re able to provide these data points and show ROI that we’re able to show how important our events are to business success.”

PRODUCTS USED