Advances in technology like business efficiency and streamlined communications have made scalability more accessible and growth more attainable for association management companies.
Growth and scalability are closely related. To reach profitability, scalability needs to accommodate growth. Community association management companies must be able to resist growth pressure without being hindered by resources or structure.
As your property management company adds to its portfolio, it can be challenging to sustain or increase efficiency and profitability levels. Yet these levels need to be held consistent or raised for the business to remain stable. This is where it is vital to manage your company’s scalability.
Systems that can scale along with your company should be put in position in anticipation of company growth. Those management companies with flexible and scalable systems in place can withstand increased business without damaging their efficiency and profitability in the process. Continue reading to learn how to manage scalability.
Manage Scalability Using SaaS CAM Software
To manage scalability effectively, you need technology that can adjust to your evolving needs and relieve growth pressures. Using CINC Systems’ software as a service (SaaS) CAM software, for example, can remove the need for on-site computer servers and physical files. CINC can also be integrated into your business model to streamline your operations even while your company is planning to grow.
CINC’s subscription-based service eliminates the cost associated with owning the software infrastructure. Further, CINC lets you service numerous HOAs under your management with one instance of software with no user capacity constraints. This is because CINC’s SaaS solution was designed to accommodate more users with virtually no lag time. Numerous HOAs can use the system at the same time, with no effect on usability or speed.
Profitability and ROI maximization can be achieved and sustained by minimizing overhead, increasing profitability, and increasing management efficiency.
CINC’s Modular Software for Increased Scalability
CINC’s modular system has self-contained and optional software components that you can add as your company grows. This lets you manage the software for maximum scalability. CINC’s all-in-one cloud-based system gives you oversight and complete control of your HOA portfolio.
CINC’s powerful community association management software empowers you to maximize profits while increasing efficiency. Its modular system includes automation, which handles repetitive, time-consuming jobs, freeing your HOA managers to focus on value-added activities.
CINC’s software modules that can be added to your CINC platform and include automation:
- Collections — CINC’s HOA collections software automates homeowner communication and fee assessments, saving your accounting team valuable time.
- Violation management software — CINC’s HOA violation management software lets you automate violation letters, monthly management reports, inspection results, escalations, and more.
- Work order management software — With the work order management module, your community managers can receive and then coordinate work orders as soon as they are generated.
- Accounting services module — Process HOA accounts payables and accounts receivables while automating bank reconciliations, month-end processing, and more.
- Management — HOA management software centralizes and automates your company accounting processes and provides a dashboard where your team can track and organize call logs and documents.
Managing scalability according to your business’s needs and resource availability is essential to profitability and growth. CINC allows you to scale profitability without adding to your headcount. By implementing software engineered for scalability, your current team will possess the bandwidth to manage double the associations. Click here for a free demo of CINC.