Why you would need Association Management Company
Firstly one needs to understand that an association is a group of individuals with a common purpose and shared industry visions. There is a range of associations for different industries. Associations provide various industries with an eco-system that connects employees, employers, customers, suppliers and government. Associations’ responsibilities are to create job opportunities, provide networking opportunities, access exclusive resources, improve the industry climate and provide support systems.
Running an association has challenges that could harm the success and growth of the association. Common challenges in associations could be:
• strategic planning
• management
• marketing
• communication strategy
• financial
• contractual management
These challenges could be tough to be handled within the association, and the most effective solution is outsourcing an association management company.
What is an Association Management Company?
Association Management Company (AMC) is a professional service company that specialises in providing outsourced services for associations, societies and organisations, providing a wide range of benefits, including shared services and technology systems with access to specialised expert staff. Association management companies deliver cost-effective professional management that gives flexibility and resources.
The association’s board of directors is pressured to provide strategic planning, monitor progress, protect assets, oversee finances, serve various stakeholders, and recruit members. These responsibilities sometimes get jeopardised because board members usually don’t have time and lack the expertise and resources to ensure these tasks are handled.
That’s why it’s essential to understand the benefits of recruiting an association management company.
The benefits of Association Management Company (AMC):
Operational and Staffing Benefits
• Specialised staff and services
• Day-to-day and ongoing staff management
• Better staffing and resource allocation
• Best-of-class resources and technologies
Business and Financial Benefits:
• Efficiencies from leveraging shared services
• Better buying power
• Reduced business risks
Long-Term Benefits:
- Improved member satisfaction due to better professionalism and responsiveness of staff
- Release from daily operations that allows Boards/Committees to focus on vision and strategy
- The pooling of innovative methods and ideas
- Scalability of resources to deal with the association’s growth
Conclusion
Association management companies don’t just bring plenty of value to the board of directors, but they also ensure the success of other stakeholders within the association. The core values of Association Management Company are to ensure that the association’s board have the time and energy to focus on furthering the goals of their association and having a real impact on the industry. Outsourcing Association Management Company isn’t just a good idea; it’s excellent for associations with dreams and ambitions of bringing change and growth in their industries.