The importance of being able to report on your event inventory

The importance of being able to report on your event inventory

If you’re busy organising and running events, it can sometimes be difficult to find the time to report on them. Yet, at Eventrax, we believe being able to report on your event inventory quickly and easily is important. In fact, it’s probably the most important part of event management.

Our view on this is backed up by what our events industry colleagues tell us. We often ask event managers what the most time-consuming aspect of their job is. More often than not, they tell us it’s the difficulty they experience in generating accurate reports about their events.

How much inventory have you got left for each event?

Let’s pretend for a moment you’re running several events over the next few months.  You’re also responsible for ticket allocations for several sponsorship assets.

Let’s also pretend that, like many events teams, you’re still relying on spreadsheets. These are your primary means of tracking the spaces which remain at each of your events.

Therefore, the likelihood is that you’ve got no quick way of reporting on the remaining availability.  No quick way of knowing how many tickets are left. No quick way of knowing whether any new allocation requests have come in.

Even if you’ve got a spreadsheet wiz in your team who manages to combine the data from all of the spreadsheets into one place, your reports are still likely to contain out-of-date information.  You’re unlikely to know that the reports are inaccurate it until it’s too late.

The hidden information you can’t see

More often than not, that inaccuracy is due to email being the primary means of requesting, offering and confirming event attendance. If your spreadsheet doesn’t reflect the latest email conversations, then inventory usage won’t be up to date.

At that point, your spreadsheets and any associated reporting processes aren’t telling the full story.  At any given time, your team’s inboxes could contain emails with vital information you cannot see.

What’s working and what isn’t?

Another thing an events team is likely to lack if you’re using spreadsheets and email, is the ability to step back and assess.  Without accurate reports, it’s difficult to for you to identify what’s working and what isn’t. At least, not without someone in your team doing a lot of manual data crunching.

You and your team have to then manually create even more complex spreadsheets in order to crunch the data. Only then, after a lot of effort and time, can you gain insights into which events have been effective and which ones haven’t.

Any kind of reporting on the cost-effectiveness of your event inventory is therefore complex, time-consuming and potentially inaccurate.

As many an events team has discovered over the years, the more events you run and the more sponsorship assets you manage, the harder it becomes to generate accurate reports.

How Eventrax can help you report on your event inventory

Eventrax is an event management platform designed by events people, for events people.

The platform is a hub for all of your events, sponsorship assets, tickets, allocations and invitations.  Everything in one system.  One system that knows exactly how much inventory remains for every one of your events in real-time. When a member of staff uses some of your allocation for a particular event, they secure this allocation through Eventrax. Because all that data is sitting in one system, it means your event reports are always accurate.

This means you can report on the remaining allocation for one or more events. You can also quickly identify the overall utilisation levels across multiple events. Plus, you can quickly and easily calculate whether each of your assets and events is bringing a return on investment.

To find out how Eventrax can help you report on your event inventory, get in touch or read more about the platform here.