Industry-specific software saves over 70 hours per month
Executive Summary
Oftentimes for entrepreneurs, a vacation isn’t just a break. It’s a moment to reflect on accomplishments, recognize opportunities, and envision new goals. For Bill and Tracy Ashby, their 2011 trip to Key West resulted in a swift career change that transformed their entire world.
Enamored with Florida’s sunny skies and sandy beaches, the duo moved to Sarasota in mid-2012. While they loved their new home, Bill experienced a number of frustrations with his HOA. He joined the Board in efforts to resolve communication issues, and as he learned more about the community association management industry, he realized that this was his next career calling. Tracy and Bill earned their CAM certification and started Gulf Coast Community Management. Their first client, of course, was the HOA that started it all - their own.
From November 2014 through 2016, Bill and Tracy juggled both of their careers while also committing to the company's success. In 2016, they took a leap of faith and made GCCM their full-time careers. As of today, they have over 20 clients - five of which they directly attribute to making the switch to CINC Systems.
CINC's impact in year one
Banking integration strengthens partnership and gives back time
For their first five years in business, GCCM was accustomed to time-consuming tasks attributed to generic, off-the-shelf software that isn’t designed for the specifics of the HOA industry. Bill wasn’t searching for a new technology partner when he was initially introduced to CINC, but he was immediately intrigued when he saw his first demo.
“I was overwhelmed by what the software could do to help us be more efficient as a company,” Bill explained. While he wanted to move forward right away, he was met with hesitation from some of his associations who were wary of switching banks. Luckily, he was partnered with CAM and banking extraordinaire James Bradley, Senior Vice President of Association Prime powered by SouthState Bank.
“In a 20-minute conversation, James not only sold me on CINC, but to move all of my associations over to his bank,” Bill said. GCCM signed on to CINC in October 2019, and knowing the needs of their clients and homeowners, insisted on a go-live date of January 1, 2020. Through a data transfer managed by CINC, this go-live date was successfully met, and during the onboarding process, Bill and Tracy were able to have their questions answered in a split second. “CINC just sets you up for success from day one.”
GCCM added five new clients to their portfolio in their first year using CINC. Part of that success is attributed to the 'wow' factor CINC brings to a pitch meeting. “The ease of use for the homeowners, who have access to their accounts in real time - I sell that!”
CINC + banking integration
Daily Account Reconciliation
Accounts can be reconciled each day in under three minutes per association, and full monthly reconciliation is completed by the 1st of every month.
One-Stop Solution
All invoicing and deposits can be managed in one place, instead of having to log into two websites.
Real-Time Transaction Monitoring
By monitoring transactions live, one can quickly spot suspicious and irregular activity, reducing both accounting errors and potential fraud.
HOA-specific software gives GCCM back time and saves money
Many management companies rely on off-the-shelf accounting products when they first begin their business journey because of its ease of setup and short learning curve. Unfortunately, the HOA industry is a niche industry, so out-of-the-box software quickly becomes a detriment.
By switching from Quickbooks to CINC, GCCM was able to drastically reduce the amount of time spent on manual tasks that previously had to be completed in each individual association. Despite their tremendous 24% growth, they didn't have to add any additional staff.
CINC's owner portal cut calls by 50%
Giving homeowners the freedom to easily access their own account information from any device was a big game changer. CINC’s website integration provided GCCM a level of self-service that generic accounting software couldn't offer
“Because of Quickbook's limitations, we weren't able to use their online services,” Bill said. “Now our homeowners can log into the website to make their own payments, or update their account information. They can even view violation letters, so there’s been a significant decrease in phone calls.” Since offering anytime account access to homeowners, GCCM witnessed a 50% decrease in calls from their homeowners.
Sunny days ahead – literally and figuratively
Bill and Tracy’s upgrade from harsh winters to December beach days was unintentionally the first step of a new beginning, and their partnership with CINC has proven to be the same. In just under a year and a half, the pair have streamlined their daily, weekly, and monthly tasks. Gulf Coast Community Management is looking forward to a long road of future success through their partnership with CINC Systems and Association Prime Powered by SouthState Bank.