The Future of the Community Association Management Industry

CAM Profitability Conference

Best Practices for 21st Century Executives

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“Our Mission

To provide a series of thought-provoking seminars and social media discussion groups to educate and advise community management executives on ways to better run their companies. Community management companies are under intense competitive pressure which affects profit levels. The topics discussed will give insight into ways to better market management services, increase revenues, reduce expenses and maximize profits in a variety of innovative ways.

Industry Specific Technology

Finding the Right Technology

The CAM industry is at a Crossroads

The Future of the CAM Industry

The CAM industry is at a crossroads. With more than 300,000 community associations in the US alone, the money flowing through this industry has made it impossible for big money to ignore.

The Future of the CAM Industry

In an industry that is typically thought of as ‘behind the curve’ in technology and innovation, we have to move up in a hurry if we want to be able to stay competitive.

Drawing from the Present The conclusions we can draw at this point in time about where

community management is headed are:National firms buying local companies continues

Move towards web based and mobile technology

Integration of internal business systems

Broaden income streams through expansion of services

More outsourcing to save labor

The industry will be more controlled by new laws

What We’ve Accomplished Thus Far

CAM SoftwareCombine many different software packages (word processor, spreadsheets, database, accounting, etc.) into one platform

Mobile ManagementNo longer need to go back to the office to load inspection results

LockboxNo longer have thousands of checks coming to mgmt. company

Check writingNo longer need to have checkbooks for every community

Community Web SitesHomeowners can find information and save a call to the Management Company.

Industry Specific Technology

Finding the Right Technology

Looking Ahead: The Future of the CAM Industry

More/Better Technology for CAMs

Advances in CAM technologies will lead to more efficient offices. Look to these areas for emerging opportunities: Automatic check reconciliation AP Lockbox Software integration with:• The web• Phone systems• Paperless systems

Mobile Data Access will become the standard

New Laws & Oversight New laws are being passed in both states and nationally to

require more education and oversight. As a result:

Employees will become more professional, educated and technically savvy.

Board members will gain a better understanding of their role expectations, and will become better at them.

Fraud, incompetence and apathy will see a reduction.

More Profit Centers

Companies will start performing more tasks to increase revenues:CollectionsLandscapingMaintenanceMailings

More Outsourcing

Companies will start performing fewer tasks in-houseAccounting servicesHR servicesOutsource services that require quick response• Resale disclosures, • In-house payment processing • Mass Printing

More Telecommuting

Companies will incorporate telecommuting policies for these benefits:Salary savings

Savings on office rent

Spread your service areas

Shrink your footprint

‘Greener’ Management

New State Laws will be passed based on environmentalist pressures: Electronic record storage will become standard

Paperless Filing will become the norm

Email will be accepted as legal notice

Social Media will become a standard form of communication

Industry Specific Technology

Finding the Right Technology

Don’t be afraid to “Jump off the Log”

Prepare For the Future Now

Define your needs. What do you want to accomplish? Identify where your staff spends an inordinate amount of time The 3 goals to achieve when evaluating any new technology

are: Efficiency Accuracy Convenience

If the technology you are considering does not offer all three, it’s not the right choice