Top 5 Benefits of Working with an AMC

A recent study from the Association Management Company Institute (AMCI) showed that association management companies (AMC) overall deliver 317% growth in net assets and 31% more growth in net revenue, as well as offering consistently higher income from products and services.

A similar AMCI survey comparing associations managed by AMCs vs. standalone organizations found that:

• Organizations managed by AMCs enjoy 10% net profitability over standalone organizations.
• AMC managed organizations on average generate more dollars in revenue for each dollar of assets being employed in running the association.
• AMC managed organizations derive more income from non-dues revenues areas.
• Since less funds are being allocated to pay an AMC vs. a standalone, more funds are available for member services and meetings.

1. Shared Services and Reduced Costs
   AMC clients benefit from reduced costs because AMCs can allocate operating costs across all clients. You can think of it as renting instead of buying in the way that you get all the perks with less of the maintenance or large upfront costs. 

2. Greater Efficiency
   All associations are different, but many of them have similar needs – great AMCs leverage this and create policies, procedures, templates and systems that allow the staff to move expertly and quickly. (e.g.: RFP processes, meeting reports, financials, budgets).

3. Shared Knowledge
   Great AMCs have a heavy focus on staff education and ensure that all staff are cross-trained on multiple clients. A best practice is for staff from different client teams to meet surrounding the functional area in which they work, such as membership, meeting planning, etc. 

4. Staff Flexibility
   Though some AMCs may have a smaller staff than others, the key question to ask is to what extent the staff is cross trained on the activities of other clients and any software or special processes they use. A large staff that is not cross-trained is not of any use if one staff member from another client leaves.

5. Scalable Services
   AMCs are well positioned to headquarter your association and do everything that it takes to run a successful organization. Great AMCs are flexible; they can start where your current budget allows and as your organization and budget grow, as any great AMC will ensure it will, you can add additional services to your contract. You can revisit your services contract at the annual review meeting with your AMC. 

Association Acumen is one of only 17% of over 500 AMCs that are accredited. Your organization can work with us in one of two ways:

Full Service: Association Acumen delivers full-service management for all operating disciplines and all daily operations. 

Project Basis: Association Acumen offers a wide variety of professional services on an outsourced basis to meet an association’s specific needs.

AMCs like Association Acumen are a smart choice for many. Our professional team is committed to YOUR vision, YOUR mission, YOUR membership. We bring business acumen to association management, optimizing efficiencies, maximizing revenues, controlling expenses and keeping the organization on track toward long-term growth and achievement. You benefit by having shared resources under one roof.

How to Select an AMC: A Step-by-Step Guide 

Contact us for a comprehensive set of informative AMC selection checklists.