Profile: Cvent Inc (CVT.N)

CVT.N on New York Stock Exchange

25.82USD
2 Jul 2015
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Cvent, Inc. (Cvent), incorporated on August 20, 1999, is a cloud-based enterprise event management platform. The Company provides solutions for both sides of the events and meetings value chain, such as event and meeting planners, and hotels and venues. The Company's integrated, cloud-based solution is used in the entire event lifecycle by allowing event and meeting planners to organize, market and manage their meetings, conferences, tradeshows and other events. Its hospitality cloud provides hotels and venues with a solution suite to generate, manage and measure their demand for group meetings. For the event and meeting planner side of the value chain, which includes corporations, associations, not-for-profits, Government agencies and universities, events and meetings are an integral way to build relationships with customers, prospects, employees and partners. Enterprise events and meetings include external events, such as conferences, tradeshows, and customer summits, as well as internal functions, such as sales meetings, training seminars and team-building events. Meeting planners use its solutions to identify the appropriate venue, secure a competitive proposal from the hotel or venue, manage budgets, market the event, send invitations, utilize pre-event surveys, establish a social media presence for the event, process registrations, manage fee collections, build an event-specific mobile app, manage event logistics, such as travel and lodging, survey and engage attendees, and analyze event results and survey feedback following the event.

The Company offers planners a platform that addresses the entire lifecycle of events and meetings, including budgeting, planning, venue sourcing, marketing, management and measurement of meetings. It offers six product categories, which include event management software, enterprise solutions software, mobile event apps, pre- and post-event feedback management software, ticketing software and the Hospitality Cloud, which includes CSN, a marketplace that connects approximately 235,000 venues with ready-to-transact event and meeting planners, and other group marketing solutions, group demand management and group business intelligence for hotels and venues.

Event Management

The Company provides solution, which includes the functionalities, such as Event Planning, Event Marketing, Event Administration, Onsite Event Management and Software Integrations. The Company's online event planning software gives users the ability to manage events from Webinars to conferences. Features include agenda and session management, online and mobile event registration, promotion codes or discounts, secure payment processing, housing and travel management, and event cloning (for recurring events). Its solution provides e-marketing tools for planners. Marketing features include event Websites (templates and custom), e-mail marketing (templates and custom; initial and follow-up), mail merge data tags, contact management, event calendars, and social media integration.

The Company facilitates all the processes and details of bringing an event to life. Administration features include budget management, seating management, name badge and certificate creation, resource and space allocation, speaker management, appointment scheduling, membership management and continuing education credit tracking. Its solution also provides onsite solutions to help events run smoothly and engage attendees. Onsite features include onsite registration and session check-in functionality, badge printing, payment processing and mobile app integration. Its platform integrates with commonly-used, mission critical software, such as Salesforce.com, and can be integrated with other existing enterprise or accounting systems. Its platform measures all aspects of the event management process. Users can generate standard or custom reports, view event dashboards and schedule live reports to be sent to stakeholders across departments. In addition to the foregoing functionalities of its Event Management platform, all of its event and meeting planner users that are licensed pursuant to subscriptions to its Event Management platform that has access to its CSN product.

Enterprise

The Company's Enterprise solutions consist of Strategic Meetings Management (SMM) for internal meetings, and Enterprise Event Marketing (EEM) for external customer and prospect facing events. It offers its Enterprise solution for enterprise customers who hold hundreds or thousands of events and meetings annually, many of which are hosted at off-site locations, such as hotels and other venues. In addition to all of the services offered to its event management customers, its Enterprise platform also helps corporations manage their meetings and event programs. With its platform, enterprises gain control over the entire meeting and event planning process by managing logistics, budgeting, sourcing, registration, housing, travel and reporting in a single application.

Mobile Event Apps

The Company offers planners the ability to generate and customize native apps for both business and consumer events on multiple operating systems, including Android, iOS and the Web. Its apps are used by planners and attendees to provide schedule and location information; create personalized schedules and access them within the app; facilitate interaction among attendees, speakers and exhibitors; participate during sessions with live polling and surveys; conduct real-time messaging to build relationships and disseminate information; access media content, such as video, pictures and Internet radio; connect with integrated social media tools, such as Facebook, Twitter and LinkedIn and deliver advertising and targeted messaging.

Feedback Solutions

The Company's feedback solutions enable its customers to streamline the way they collect information both pre- and post-event. Additionally, approximately 1,200 enterprises and over 13,000 active users utilize its software to solicit feedback from employees, measure customer satisfaction, capture sales leads and test new product ideas. Event management customers can also collect attendee feedback using its survey capabilities, which provides analytics and insights useful for future events.

Audience Management Platform

The Company offers a ticketing, customer engagement and venue management platform that helps venues, promoters and artists. Its easy-to-use platform includes customer Websites and tools to generate Website ticket sales, branded e-mails, print-at-home tickets, and box office and ticket scanning capabilities. It also offers a mobile solution for events and drives attendee engagement. Its solutions integrate with social media platforms, enabling social buying, sharing, rewarding, tracking, auto-tweeting and auto-publishing, and also include analytical tools to track and measure results.

Hospitality Cloud

The Cvent Hospitality Cloud was branded to provide a spectrum of cloud-based solutions across the hotel group sales lifecycle. The Hospitality Cloud consists of marketing solutions and SaaS software enabling hotels, CVBs, and other event venue owners to generate demand for meetings and events, manage. Its Hospitality Cloud solutions are separated into three pillars, which include group marketing solutions; Group Demand Management and Group Business Intelligence.

The Company's group marketing solutions consist of three online marketplaces, such as The Cvent Supplier Network, EliteMeetings.com and SpeedRFP.com that allow suppliers to directly connect and establish relationships with the hundreds of thousands of planners who use these tools to research destinations, find venues, and source group business. These three domains are designed to support the sourcing needs of a variety of meeting planners. The Cvent Supplier Network (CSN), which connects tens of thousands of professional meeting planners with approximately 235,000 venues featured in its database. EliteMeetings.com serves as a commission-free RFP-generating tool and a vehicle for sourcing upscale properties. SpeedRFP (www.SpeedRFP.com), is another commission-free sourcing Website, with a focus on ease-of-use, and is thus focused on planners in the Social, Military, Education, Religious and Fraternal (SMERF) market.

Cvent’s solutions for Group Demand Management provide hotel sales personnel with the tools they need to manage, prioritize, and track a group business leads. Cvent’s solutions for Group Demand Management consist of the components, which include Lead Scoring, Routing and Escalation Rules, and SpeedRFP Widget. Cvent’s Lead Scoring software allows hoteliers to configure a scoring strategy based on the individual needs of their hotel. Routing and Escalation Rules ensure that the correct users are automatically assigned to leads based on a variety of configurable factors, including geographies, lead dates, lead size, organization type and a number of other factors. The SpeedRFP Widget provides white-label technology for group business sourcing on hundreds of hotel Websites and enables those clients to manage all of their electronic leads through one central interface.

Cvent provides packaged analytics to hotels, enabling sales and marketing leaders on property to track and analyze their own group business performance and to compare that performance with their competitive set. Its comp set reports gauge a hotel’s group pace and future lead opportunities against its biggest competitors on a local, national and international level. Its scorecards compare a hotel’s advertising performance against the market by going beyond click-through rates and impressions, and evaluate RFP traffic and group booking windows.

The Company competes with Lanyon and Eventbrite.

Company Address

Cvent Inc

1765 Greensboro Station Place, 7
TYSONS CORNER   VA   22102
P: +1703.2263500
F: +1302.6365454

Company Web Links

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