Transform the Sales & Event Management Lifecycle to Strategize and Digitize Events
Determine the value an effective group sales and event management (GSEM) system can bring to the business.
- The organization is having difficulty researching the group sales and event management system market and does not see the value in the system, putting the business at risk for missed innovation.
- It can be difficult to determine which vendor offers the right features, functionalities, and opportunities for the organization.
- The business does not know of the opportunities, challenges, and considerations that a new sales and event management system may create.
Our Advice
Critical Insight
- A group sales and event management system will streamline the organization’s business processes while creating competitive and cost advantages.
Impact and Result
- Comprehend the trends and importance of a group sales and event management system.
- Define the organization’s key capabilities through cost and competitive advantages to understand the organization’s current state and what it needs from a group sales and event management system, vetted through a value chain analysis.
- Review Info-Tech’s analysis of the vendor functional criteria for ten key players in the GSEM market that have functional viability for various organizations.
Transform the Sales & Event Management Lifecycle to Strategize and Digitize Events
Determine the value an effective group sales and event management (GSEM) can bring to the business.
Analyst Perspective
Drive seamless sales and event management operations
The events industry has embraced transformation as investments in sales and event technology have greatly increased. The gaming, hospitality, sports, and entertainment industries now are facing the key challenge of digitizing their sales and event management processes to meet their customers' modern needs and expectations.
The rise of digital sales and event planning has signalled the importance of data collection and the need for a modern group sales and event management (GSEM) system, as manual and legacy systems can no longer meet the new business objectives. To achieve success, organizations must look past the basic functionality of their present systems and consider the advanced and strategic functions needed to create cost and competitive advantages for the business.
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Elizabeth Silva
Research Analyst, Gaming, Hospitality, Sports & Entertainment Industry Info-Tech Research Group |
Executive Summary
| Your Challenge
The organization is having difficulty researching the GSEM market and does not see the value in the system, putting the business at risk for missed innovation. Selecting the right vendor can be difficult. The organization must determine who offers the right features, functionalities, and opportunities. The business does not understand the opportunities, challenges, and considerations that a new sales and event management system may create. |
Common Obstacles
Event professionals are experiencing skills gaps and a lack of resources in the event industry due to rapid economic changes. Digital transformation has proliferated across every industry, organization, and department, and CIOs must maneuver through this change to keep pace in a digital-first world. The business and IT often focus on a project’s immediate returns, ignoring the ongoing holistic value it will have. |
Info-Tech’s Approach
Comprehend GSEM system trends and the importance of having a system. Define the organization’s key capabilities through cost and competitive advantages to understand the organization’s current state and what it needs in a GSEM, vetted through a value chain analysis. Review Info-Tech’s analysis of the functional criteria of ten key players in the GSEM market. |
Info-Tech Insight
A GSEM will streamline the business processes of an organization while creating competitive and cost advantages.
A group sales and event management system can digitize the entire lifecycle of sales and event planning
| GSEM software includes event management, sales, and catering solutions. It enables users to sell, market, plan, design, execute, and evaluate sales and event management needs through multiple streams. Determining effective sales and marketing strategies, goals, and objectives; scheduling agendas; booking vendors; and automating day-of processes are examples of the capabilities GSEM platforms can provide.
A GSEM system assists with the following processes that make up its value chain:
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46%of event planners say creating content and building their event agenda are the most time-consuming aspects of event planning(G2, 2019). |
(Events Case, 2023)
The GSEM environment includes a large tech stack and various integrations
Have a deep understanding of the GSEM environment before looking at solutions. It’s important to select one that will integrate with all outlets in the organization’s digital environment.
The number of tools and solutions designed to assist event professionals creates challenges in the industry. Novel struggles include figuring out what functionality is needed and how to efficiently integrate it without slowing anything down.
Think critically about the tech stack the organization needs to roll out events successfully and efficiently.
Info-Tech Insight
Consider working with a vendor who will be able to consolidate your tech stack as much as possible to reduce the need for multiple solutions and integrations.
An effective GSEM will automate processes and deliver seamless experiences
A GSEM allows event professionals to streamline and simplify sales and event planning tasks while improving their overall efficiency and customer satisfaction. GSEMs were once a nice-to-have software, but now they are a must-have. Improving efficiencies, costs, reporting, analytics, and streamlining the processes of sales and event planning allows businesses to maximize their return on investment (ROI) as much as possible.
| Holistic approach to effective event management | ||
Improve efficiencies
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Cost savings
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Analytics and improvements
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Impacts
Event management value chain The event management software market size was valued at USD$10.2 billion in 2022 and is projected to reach US$23.51 billion by 2030, growing at a compound annual growth rate (CAGR) of 11% from 2023 to 2030.
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Sales & event technology is a key initiative in 2023 and beyond
Disrupting Factors
- Increasing investments in event technology: Many event planners have been dissatisfied with the event technology they have been using or offered as options over the years. The COVID-19 pandemic forced the event industry to innovate its products to better serve the industry. New event management products have proliferated, causing organizations to increase their investments in novel solutions.
40% of event professionals are dissatisfied with their event technology options. (Exploding Topics, 2022) - Changes in professional skillset: Event professionals need to improve their skills and knowledge within the event industry to keep pace with rapid changes in the economy and industry. When skills gaps are identified, it’s important that these are addressed through new certifications and educational sessions.
71% of event planners want to further develop their skills to create better event experiences. (PCMA Convene, 2021) - Importance of data collection: Collecting data can improve planners’ understanding of customer behaviors and expectations. Collecting real-time data through radio frequency identification (RFID) badges or clicks for virtual events will allow organizations to bridge the gap between what the event is and where it needs to be to satisfy customers.
74% of event professionals said that data drives their decision-making processes. (Endless Events, 2021) - The focus on digital event planning: Virtual and hybrid events are here to stay. Digital events allow flexibility and improve an event’s reach. The demand for in-person options can be met while providing a seamless experience.
97% of event planners expect to see more hybrid events going forward. (Exploding Topics, 2022)
Transform the sales and event management lifecycle to strategize and digitize events
A GSEM system will streamline the business processes of the organization while creating competitive and cost advantages.
Disruptors
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| Impacts
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Cost and competitive advantages of GSEM
Impacted GSEM processes
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| Improved through | Analyzed GSEM Vendors
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Determine how the GSEM impacts the business: Illustrative Example
Hotel Business Capability Map In business architecture, the primary view of an organization is known as a business capability map, which is comprised of business capabilities and value chains.A business capability defines what a business does to enable value creation, rather than how.
A value chain is a high-level analysis of how the industry creates value for the consumer as an overall end-to-end process.
A business capability map provides details that help the business architecture practitioner direct attention to a specific area for further assessment.
The following are highlighted as capabilities that receive a cost and competitive advantage through an effective GSEM.
Activity 1.1 Define the organization’s key capabilities
1-2 hoursInput: Industry reference architecture
Output: Highlighted capabilities of cost and competitive advantage creators for the organization
Materials: Whiteboard/Flip charts
Participants: Project Manager, CIO, Relevant stakeholders accountable for GSEM-related decisions
- Determine the cost advantage creators. Focus on capabilities that drive a cost advantage for your organization. If your organization has a cost advantage over competitors, the capabilities that enable it should be identified and prioritized. Highlight these capabilities and prioritize the programs that support them.
- What is the source of your cost advantage? IT should support the capabilities that drive the cost advantage.
- Is the industry you operate in sensitive to price adjustments?
- Don’t focus on capabilities that create an unsustainable cost advantage. Take a long-term perspective and allocate your resources wisely.
- Determine the competitive advantage creators. Prioritize capabilities that give your organization an edge over rivals. If your organization does not have a cost advantage over competitors, determine whether it can deliver differentiated end-customer experiences. Once you have identified the competitive advantages, understand which capabilities enable them. These capabilities are critical to the success of the organization and should be highly supported.
- Are there products or services your organization provides that customers consider superior to competitive offerings?
- Which capabilities enable the competitive advantage?
- How easy is it for competitors to neutralize your competitive advantage? Focus on the capabilities that are difficult to replicate by competitors to create a more sustainable advantage.
- Don’t determine the competitive advantages alone. Incorporate various perspectives from throughout the organization to truly understand how the organization competes in the marketplace.
Activity 1.1 Define the organization’s key capabilities
Hotel Business Capability Map
Download the correct industry reference architecture:
Hotel Industry Reference Architecture
Integrated Casino Industry Reference Architecture
Sports Entertainment Industry Reference Architecture
Sports League Industry Reference Architecture
Analyze the sales and event management system with value chains
Greatest Risks
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Complexity
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Key Benefits
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Dependencies
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Financial Revenue Highly Impacted
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Activity 1.2 Value chain analysis
1-2 hours
Input: Business and industry context
Output: Value chain analysis for a GSEM
Materials: Whiteboard/Flip charts
Participants: Project Manager, CIO, Relevant stakeholders accountable for GSEM-related decisions
- The first step of delivering value is defining how it will happen through the GSEM under consideration. Use the organization’s industry context to start a discussion on how value is created for stakeholders (internal or external such as staff). Working back from the moment value is realized by the stakeholder, consider the sequential steps required to deliver value in the business and industry.
- Identify value streams, chains, and stakeholders that are associated with the opportunity being analyzed. Typically, stakeholders are those who benefit from the value chain.
- Once the key value chain has been identified within the value stream element, assess the individual business capabilities within the value chain and identify areas for transformation.
- Evaluate the capabilities based on:
- The level of pain or risk experienced by a stakeholder to accomplish that process or capability.
- The financial impact the process or capability has on the organization.
- Capabilities that pose both a high level of pain or risk and financial impact should be prioritized for transformation.
- Further analyze the prioritized capabilities for transformation by determining the greatest risks, complexity, key benefits, dependencies, and financial revenue impacted by the GSEM. This should address how a GSEM will improve the value chain and opportunities.
Activity 1.2 Value chain analysis
GSEM Capabilities & Processes
Expanded hotel business capability map to GSEM processesIllustrative Example
Activity 1.3 Identify opportunities through a GSEM assessment
1-2 hours
Input: Outcomes from activities 1.1 and 1.2
Output: Expanded reference architecture for the organization, Assessed GSEM processes, Identified opportunities for a GSEM solution
Materials: Whiteboard/Flip charts
Participants: Project Manager, CIO, Relevant stakeholders accountable for GSEM-related decisions
Business agility is essential to stay competitive and to develop resilience to changing market conditions. The application portfolio, especially the sales & event management system, must sufficiently support business needs and advantages through functional flexibility and efficiency.
Assess the current state of the GSEM with the following criteria:
- Green: Process is well-supported by the GSEM
- Yellow: Process is moderately supported by the GSEM
- Red: Process is somewhat supported by the GSEM
- Black: Process is unsupported by the GSEM
Adopting a value chain-based approach to assess the current GSEM will enable IT and business units to identify opportunities to:
- Rationalize the sales and event management system processes and features
- Automate tasks through the strategic selection and implementation of sales and event management system processes
- Integrate applications with the GSEM that have cross-capability implications
- Eliminate redundant or legacy applications and features that don’t deliver enough value
- Identify areas of customer and employee friction and potential areas of ROI drivers
The color-coded areas in this activity will address the capabilities the organization should focus on for a new GSEM solution and vendor.
Info-Tech Insight
To bring holistic to the organization, ensure you can integrate critical systems with the GSEM such as point of sale (POS), payment management services (PMS), financial systems, etc.
Activity 1.3 Identify opportunities through a GSEM assessment
Customize this business capability map to match the specific organization’s key value chains, capabilities, and processes to properly assess the GSEM current-state. Templated Worksheet
Improve sales and event management with the right data and metrics
| Outcomes | Metrics | Impacts | Measures |
Reduce costs |
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Increase revenue |
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Increase customer satisfaction |
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| The top three challenges with event management systems are: |
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(Skift, 2022). |
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Guided Implementation 1: Define the organization’s key capabilities
- Call 1: Determine the cost and competitive advantage creators for the organization.
Guided Implementation 2: Conduct a value chain analysis
- Call 1: Identify value streams, chains, and stakeholders that are associated with the opportunities being analyzed for a GSEM solution.
- Call 2: Identify processes for transformation and evaluate them based on the level of pain or risk to the stakeholders and the financial impact on the business.
- Call 3: Analyze the capabilities prioritized for transformation by determining its greatest risks, complexities, benefits, dependencies, and financial revenue impacted by a GSEM system.
Guided Implementation 3: Identify opportunities through a GSEM process assessment
- Call 1: Assess the current state of the organization’s GSEM processes.
- Call 2: Identify opportunities to automate tasks, integrate applications, eliminate redundant or legacy applications, and rationalize the system.
Guided Implementation 4: Review vendor functional criteria
- Call 1: Walk through the key players in the GSEM market that have functional viability.
Contributors
- Anonymous Contributor, VP of Sales, Event Management System Vendor
- Anonymous Contributor, Product Specialist, Event Management System Vendor
- Anonymous Contributor, Product Specialist, Event Management System Vendor
- Anonymous Contributor, Product Specialist, Event Management System Vendor
- Anonymous Contributor, Solutions Consultant, Event Management System Vendor
- Andrick Mueller, Sales Development Representative, Momentus Technologies