The Future of the Community Association Management Industry - an excerpt from the CAM Profitability Conference http://www.camprofitconference.com/

1. CAM Profitability Conference
Best Practices for
21st Century Executives

2. 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.
”

3. Industry Specific Technology
 Finding the Right Technology
The CAM industry is at a Crossroads

4. 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.

5. 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.

6. 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

7. What We’ve Accomplished Thus Far
 CAM Software
Combine many different software packages (word processor, spreadsheets,
database, accounting, etc.) into one platform
 Mobile Management
No longer need to go back to the office to load inspection results
 Lockbox
No longer have thousands of checks coming to mgmt. company
 Check writing
No longer need to have checkbooks for every community
 Community Web Sites
Homeowners can find information and save a call to the Management Company.

8. Industry Specific Technology
 Finding the Right Technology
Looking Ahead: The Future of the CAM Industry

9. 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

10. 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.

11. More Profit Centers
 Companies will start performing more tasks to
increase revenues:
Collections
Landscaping
Maintenance
Mailings

12. More Outsourcing
 Companies will start performing fewer tasks in-house
Accounting services
HR services
Outsource services that require quick response
• Resale disclosures,
• In-house payment processing
• Mass Printing

13. More Telecommuting
 Companies will incorporate telecommuting policies
for these benefits:
 Salary savings
 Savings on office rent
 Spread your service areas
 Shrink your footprint

14. ‘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

15. Industry Specific Technology
 Finding the Right Technology
Don’t be afraid to “Jump off the Log”

16. 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