Tracking Spend and Savings Learning Center

Best Practices: Effectively Track Your Spend and Savings

Tracking spend & savings provides valuable insights into the meeting program’s performance and areas for improvement. By tracking spend, companies can make informed decisions about budget, vendor selection, and contract negotiations, which can help to improve ROI. Tracking savings can identify additional cost-saving opportunities and justify a company’s continued investment in meetings & events.

Explore tracking spend and savings resources

Getting started

Program Maturity Levels for Tracking Spend and Savings
Best Practices for Starting or Revamping Budget in Cvent
Budget Administration Course
Creating Measurable Efficiencies with Cvent
Defining Your Methodology for Cost Savings and Cost Avoidance
Event Program Management Drives Savings

Top three tips

1. Align your savings formulas to your business goals so you can prove savings and ROI.
2. Create budget templates to make budget data import as seamless as possible for your planners to ensure data is comprehensive across the organization.
3. Evaluate your budget configuration annually and make changes based on your reporting needs. Avoid using a "Miscellaneous" budget category, as it can obscure the nature of expenses and hinder accurate spending tracking.

Additional resources

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Cost savings

Estimate Your Meetings Cost Savings
Crisis Management and Cost Savings
10 Ways to Save on Event Costs
Actionable Ways to Save on Event Costs
Cost-Cutting Tactics

Tools for cost savings

Attendee Hub
Cvent Supplier Network
Meeting Request Form
OnArrival
Strategic Meetings Management

Budget

Budget Overview
Budget Management
New Budget Module Features
Keep Your Budget Happy
Optimize Your Life Sciences Events

Customer stories

Allegis

Working with Cvent and a dedicated financial analyst, the team created a Meetings Dashboard. They captured budgets for all 732 events sourced, ensuring 100% accuracy in the SMM process. The dashboard effectively captured all spend by Operating Company, top ten vendors, cost savings, average room rate, and comparison to the previous year.

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Event Travel Management (ETM)

“They were able to see how much savings we were contributing to their organization, which really helped their goals. They had a high cost savings number and all of these efforts helped catapult them towards that finish line.”

Marla Everett, Director, Consulting Solutions

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