Why Drake & Company

Thinking about using an association management company?

Association Management Companies (AMCs) serve two clienteles – those seeking full-service management and those who need to outsource specialized services and projects.

AMCs provide cost savings and collective, experience-based knowledge that enables associations to focus on key business issues, without sacrificing the quality of services provided to members.

Below are several key benefits that associations gain when partnering with an AMC. These are not only the roots of a fruitful partnership, but, in most cases, these benefits lead to successful, long-term relationships whether an association becomes a full-service client or has an ongoing relationship with an AMC for specific projects.

AMCs Understand Associations

AMCs are in business to help associations succeed in their missions and visions that serve their members. AMCs specialize in and understand the challenges associations encounter and have developed and perfected best practices to solve many problems that are commonly encountered by associations and their members.

Active planning and participation in core association activities such as strategic planning, board and committee management, government relations and others, allow AMCs to develop best practices that work for small, medium and large associations.

A Beneficial Business Model (AMCs Invest for Success)

AMCs are structured to deliver services in cost effective ways. Because AMCs manage multiple clients with varying service needs, established firms such as DrakeCo have implemented business practices that provide repeatedly successful results for their client partners.

AMCs also invest in resources that can be shared by multiple clients, creating economies of scale that generate tangible value-added benefits.

AMCs leverage buying power on behalf of their client partners.

Nowhere is this more visible than when an AMC is negotiating contracts with properties for client conferences and meetings. The AMC Institute, the research and communications arm of the AMC industry, reports AMCs plan over 18,000 meetings a year and account for up to $400 million in room nights. These numbers get the attention of major hotel chains and allow for negotiations on room rates, meeting space and other association meeting needs.

An AMC will hire professionals who have made association management a career and not just a job.

Look to any established AMC and you will find staff members that are credentialed to deliver specialized services. At DrakeCo, professionals in marketing, public relations, conference management, finance, membership management and other key areas provide client services as well as contribute to the knowledge pool that we draw on to solve problems and develop best practices for our client partners.

A-la-Carte Options (Outsourcing Specialized Services to AMCs)

Stand-alone associations turn to AMCs to alleviate stress on existing resources, provide new insights and ideas, and offer new solutions. Knowledge sharing provided by an AMC may be the most beneficial aspect to this type of partnership. Instead of being competitors, stand-alone associations and AMCs become partners and many executive directors find that AMCs deliver quality service on projects that tax resources including staff and free them up to focus on key association issues.

Standards are Important (Accreditation Matters)

Not all AMCs are the same. Accredited AMCs must adhere to quality standards that guide their business processes and procedures.

Under the guidance of the American National Standards Institute (ANSI), the AMC Institute have developed a Standard of Good Practices for the Association Management Industry. The ANSI/ AMC Institute Standard assists professional association management companies (AMC) in the establishment of their own internal quality systems, and serves as the source document for the AMC Institute Accreditation Program. This process ensures that AMCs have documented policies and procedures in place that support quality standards and exceptional customer servicing of clients.

Accredited firms must pass a rigorous review and show that they have maintained best practices in a range of core business areas from financial management to employee recruitment and training. These industry standards provide assurance to AMC client partners that they are receiving the highest quality services.

For more information about AMC Institute accreditation, please visit our Professional Accreditation information page.