Running an NPO can be difficult work, in dozens of different ways. From the financing to the operation and planning, there’s a reason the words “non-profit” draws gasps from most people who hear them. All of which is exactly where AMCs come in. An association management company, or AMC, is a for-profit operation that lends its services to NPOs in order to help them succeed. They manage associations using expert services and access to resources that help them grow and prosper. There’s the expertise they provide, but also the people, advice, and resources to promote better operations. Trade groups, NPOs, and charities enjoy their input, managing operations, and event marketing. But we’re getting ahead of ourselves. Join us, today, as we break down the contributions AMCs can make to medical NPOs. You may even be surprised to learn a few things.
What Is An Association Management Company?
An AMC (Association Management Company) is a for-profit company with a very special relationship with the makeup of non profits. They are comprised of professionals in a variety of specialty areas (non-profit and conference management, public relations, accounting, etc.). Moreover, they use these resources to provide management services to volunteer associations for a fee. If you’ve ever asked yourself, “Alright, so they get donations, but how does a non profit really stay afloat without any capital?”, AMCs are your answer. If “What is an association management company?” is your next question, well we’ve got an answer for that. AMCs provide pro staffers, administrative support, tech, and equipment for the association in order for them to operate. This, alone, makes them almost invaluable. AMC staff become association staff, helping to develop and install strategies and programs that work for the NPO and its members. As of today, there are more than 600 AMCs in operation around the world. They help non profits achieve their goals in many of the following ways:
With an improved focus on quality and efficiency, any company has what it needs in order to succeed. With a panel of professionals on hand to direct the progress of an NPO’s development, there’s one more steady hand on the wheel. Most importantly, AMCs provide objective assessments from a third-party perspective. And that kind of holistic look into your operation never hurts.
There’s nothing more important to a non-profit organization than tight and strategic monitoring of its funds. With the help of a full-service team, NPOs can maximize and monitor their profits over long periods of time. An AMC prioritizes employee time spent on monetization and collection. Any NPO worth their salt will tell you this is necessary for keeping a business afloat.
Something From Nothing
Maintain and generate ideas for doing and generating more from less. It’s a noble idea, but without a professional in your corner, who’s to say you’ll ever get it done? AMCs work with their clients, sharing and improving on their ideas for maximum turnaround.
Deliver Value Continuously
AMCs provide and communicate information about an NPO’s operations on a continuous basis. Because reputation (and being able to prove it) are everything in this business, and you need someone who can communicate yours. Non profits need to stay ahead of the curve in order to stay alive, and AMCs have been specifically designed to help them accomplish that goal. NPOs get the help they need to go beyond just surviving and actually grow to a point where they affect more lives than ever before, this way.
Who Should Consider Hiring An AMC?
As the economy provides more opportunities for businesses to grow and more holes into which they can fall, a little help goes a long way. It’s becoming more commonplace for NPO associations to turn to AMCs for their management operations. Because they can pass management hassles on to others with far more experience and expertise in their various fields. Valuable experts who can direct and manage strategic operations help non-profits to achieve more. But who are these organizations?
Smaller Volunteer Organizations
One of the more common instances of businesses needing help from an AMC comes in the form of smaller operations, staffed by volunteers. Here, because the workload is being handled by non-professionals or people in their spare time, it can be easy for schedules to get out fo hand. An AMC gives your organization the tools it needs to get the job done.
When a business begins to grow and is looking for guidance in cementing its procedures, it’s important to have access to someone who knows the work. AMCs have the insights and experience necessary to formalize best practices and get the better of your procedures.
Eventually, even the smallest corporation joins the ranks of the big players. When it does, large companies tend to go looking for management and support to complement their existing operations. With access to the resources from an AMC, your business has the expertise and insights it needs to operate in a profitable and strategic manner.
Big Business Operations In Need Of A Partner
Big growth means big decisions. When a company or NPO achieves a certain size, it’s not uncommon for them to seek out a partner to help with the handling of ongoing projects. Non-profit association management companies offer insights on choosing someone who does.
How AMCs Improve Non-Profit Experience
There’s a lot of good that comes from non-profit operations around the world, every year. But it’s a tough way for any business to operate, regardless of your expertise and resources. Which is why AMCs are so important to your overall success, for the purposes of achieving your goals and retaining the visibility you need. With expert advice, management skills, resources, and value-driven insights, AMCs give businesses a leg up. Introduce them into a non-profit, and it’s more like both legs, an arm, and the whole torso. Looking for more insights than just an answer to the question “What is an association management company”? Check out some of our other blog content, today, or get in touch, to find out more about our services. —— Congrex Switzerland is an internationally operating agency providing customised solutions. This encompasses the overall organisation of conferences and meetings, including the management of hotel rooms and the strategic consultancy. Annually Congrex Switzerland organises approximately 45 events with over 73’000 delegates. Amongst our clients are international associations, governmental organisations and corporations.