Building a better mousetrap:

Smarter payment solutions for strategic meetings management

CWT
April 1st, 2019

 

It is common knowledge that the real key to driving and sustaining success in strategic meetings management is developing a productive ecosystem where stakeholders are finding value.  When they perceive value, they participate, share the good news, and provide ongoing input to drive continuous improvement.  This ecosystem, or “mouse house” for purposes of this example, should be built to achieve the company’s objectives in a way that delivers on this value proposition.  In effect, we are building a better “mousetrap” for your “mouse house.”

Would it surprise you to hear that one of the most effective pieces of bait is not a precious, ripe piece of yellow cheddar? But, instead a meeting card?  Not a slice of smoked provolone cheese, but integration with expense systems? Not a nugget of Swiss gruyere, but a perfect procure to payment processes?  I know, I know, how appealing these payment solutions may sound, especially with decades of experience having proven that it is exactly the trick to lure in said mouse.

If you are practicing strong strategic meetings management foundational principles, you are likely talking to your stakeholder before you build your “mouse house.”  It is highly likely that as you have these conversations, you will hear a resounding cry around the time and energy spent just to pay invoices.  Matching up codes, entering multiple systems, double, if not triple checking submissions, to ensure payments are sent.  Your stakeholders are saying that they feel like accounts payable clerks.  Every moment they spend on these activities is a moment not spent on making great meeting design and content. 

Blog Author: Kari Wendel, VP, Global Strategic Meetings Managemet Solutions, CWT Meetings & Events  

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