FAQs
How does my organization know when it’s time to choose an association management company (AMC)?
First, before you begin searching for the right AMC for your association, you must look at the reasons for beginning the search in the first place. One way to assess your current situation and see what future needs you might need, is to answer the following questions.
- Do you have the in-house staff and capabilities to do this work?
- Does your staff have the time to do the work?
- Would an outside expert better facilitate the work?
- What is your budget? Do you have outsourcing costs budgeted?
- Which staff members can and would do the work?
By answering these questions you’ll be better prepared to address typical questions posed by prospective AMCs. Your responses will help them to gain a better look at the current situation of your association.
Secondly, when researching AMCs, it is important to note that they are in the business of managing associations. AMCs know associations well. When you encounter challenges such as a new IT project or development of a marketing plan or governance issues within your organization, chances are that most AMCs have dealt with these issues numerous times before and in numerous ways. No two associations are alike so no two solutions are the same. Trust experienced AMCs to provide you with the expertise you need to move forward.
Finally, look for an AMC that offers flexibility and experience. The search for an AMC can be a long process, but it is an important process nonetheless. It requires careful attention from both you and the AMC. Make sure to provide prospective AMCs with all the information they need to make a professional assessment and provide you with a complete proposal that addresses all of your needs. Not providing all the information can leave too many areas in question.
What are the cost benefits associated with an AMC?
Whether your job is big or small, AMCs will charge you for the project completed vs. a flat fee, which is cost effective. AMC specialists have the expertise to provide various services with ease and less cost to the organization.
In regards to comprehensive management, the overhead cost for running a stand-alone organization can be extremely costly, especially for small to mid-size organizations. However, organizations managed by AMCs share the overhead costs of rent, utilities, technology, and maintenance, among other expenses. Your organization pays the overhead costs only for what it uses.
What are the benefits of choosing an AMC rather than relying on in-house staff to help with the work?
There are several benefits for choosing an AMC for your outsourcing needs. If you answered yes to three or more of the above questions then an AMC might help to free up your time so that your in-house staff can work on other areas of service. An AMC provides you with the experience and association know-how to assist with almost any facet of association work. AMC staff work with associations and their members on a day-to-day basis. AMCs have the tools, capabilities and experience to performing the smallest of tasks to the most detailed and arduous ones. AMCs will help provide seamless solutions to your organization's needs.
Will outsourcing a project mean hands-off for my association?
Even though your organization will be managed by an AMC, you will have just as much autonomy as you did as a stand alone. Your organization's board will make the same important decisions it does now; however, you will have a great resource in your AMC to assess your needs and advise you on future projects and strategic planning. From your Web site to bank accounts to vendor contracts to business cards and phone numbers, Bostrom will be dedicated to serving on behalf of your organization in all that we do.