How event operators and venue managers can use software to save costs

Normally when writing an introduction to a white paper, my job is to get the reader excited and enthused about the benefits they will get from the following pages. Whilst I hope this is still the case, there is no denying that the backdrop to this paper is a bleak one for the events industry.

For an industry that was thriving, the downfall has been swift and, mostly, terrible. COVID-19 and events really do not mix well and until mass gatherings are allowed again, they will remain ghosts of what they were and could be. 

Saving costs is always important, but is now imperative. Our focus is not only to help our clients survive but to help them emerge with a more sustainable business.

I hope you find the articles, facts, and opinions in this guide interesting. Wishing you all the very best over the coming months.

Peter.

The SaaS sector is full of affordable, secure and easy-to-use systems that will help you to achieve what you want, whether you're an international major event or a local sporting venue. 

And with plenty of frightening statistics to demonstrate the cost of operational inefficiencies, it's time to ask - where could you make gains in your organisation?

Every year, poor communication costs small businesses with under 100 employees $420,000 and companies with over 100 employees over $62 million (The State of Project Management in 2020)

There are more statistics of this ilk within the white paper: keep diving in as we identify parts of your operations that could really benefit from harnessing the power of SaaS.

1. Report and learn lessons to be constantly critical: reports can and should be more than a necessary evil of simply passing information up the chain!
2. Ensure continuity through operations year on year: continue to evolve and learn as you go.
3. Define objectives to measure against: KPIs are vital no matter what, even if you're not dealing with numbers.
4. Get ahead of the game by analysing trends: how can you harness machine learning and more sophisticated trend analysis to boost your organisation's operations?

But - beware the known of pitfalls of data!

You'll find it all in our piece. Combine a critical interpretation of data with your own thoughts and you'll be led by data without being beholden to it - a great base to improve your operations and save you time and money.

1. Save money on license by purchasing a system in bulk. Keep related parts of your operations aligned.
2. Discounts for large usage and for large number of products within the same system. Essential for consistency and efficiency too!
3. Save on training costs with similar UI. Cheaper, quicker and better training, leading to greater returns from using the software.
4. Useful data transfer through phases - a huge efficiency gain, as information is not only useful in one place at one time.
5. Integrations. Align different aspects of your operations for improved continuity.

1. There isn't enough buy-in: really commit to the change. You've identified a change that will help your organisation, so drive it forward.
2. There's a stubbornness and resistance to change: be open-minded. Businesses don't progress by standing still.
3. The longer-term strategy is unclear: be clear with your team. If your team know the benefits, they'll want to make them reality.
4. There's a lack of uniformity in how the new software will be used: draw up some rules of engagement. Provide training and guidelines and get your team aligned.
5. The system isn't bespoke to your needs: pick one that you are confident will suit you. The project management needs to be your bread and butter.
6. The system is too complex for your needs: be clear on the required functionality. Extra functionality is only great if it's simple and useful!

66% of companies using project management software completed projects within their original budget, compared to 47% without (The State of Project Management in 2020)

The change to a new project management system is often the right one - but be thorough in your search, justify it to your team and commit to it long-term to make it a success.

• Time wasted by working in silos: reduce the need for catch-up meetings and manual report creation, and bring people in on tasks where they can support.
• Time spent in meetings and following up: make your meetings super-productive with live updates into a system.
• Cost of working with or integrating externals: facilitate your entire suite of operations by getting everyone you work with involved digitally.
• Time spent managing your venue: gain oversight of your site without needing to be present on location. This leads to much better communication and tasking without needing to be face-to-face.

Operations software can drive the automation and collaboration that results in big savings whilst cutting down travelling, commuting and on-site hours.

Risk management software enables those processes, saving you time and money, and reducing risk by fostering coherence, collaboration and efficiency. Here are five areas where a risk and issue management system could help you make serious improvements to your operations.

1. Categorise your risks: sort, prioritise, analyse and report in useful ways.
2. Assign owners: to bring responsibility to your risk management operations.
3. Develop action plans: create trackable mitigation and contingency steps that directly respond to the dangers.
4. Report and audit: automated reporting and indelible audit trails mean you learn lessons and meet regulations.
5. Exploit opportunities: be ready to change risk strategies if an opportunity to benefit might arise.

The psychology of risk management that risk management software enables: be open, transparent and accepting about risk!

You don't need to use technology to record and manage risk - but you have to work harder to ensure good practices otherwise.

70% of senior managers said they were moving towards managing risk digitally (The future of risk management in the digital era, McKinsey, 2017)

Tech tools let you drive consistency, transparency and collaboration. Align your risk register with your project plans for full visibility on how risks affect projects and tasks. 

Better project management means less admin, better oversight and automatic notification means less checks-and-balances work. Then, with savings in tow, what's next?

This point is a tricky one. Whilst it is true that staff are often a company's greatest cost, we would never want a system to replace a team of talented event profs. Rather we aim to free up their time to do more of the things that software can't replace and instead, replace the unnecessary work.

Knowing who is doing what, when it's happening, and what to do when things don't go to plan are key for event organisers. SaaS tools like WeTrack can help facilitate this planning and communication activity. More importantly though as an industry we must ensure we are thinking laterally and reacting to the new challenges that are facing us.

That's why we wanted to share some of our thoughts on strategies and tools. Likewise we would love to hear from you on the challenges you're facing and what you're looking for in the SaaS solutions you choose for your business.

We wish you all the best in the coming months, and thank you for reading.

Rob.