PaymentsJournal
SUBSCRIBE
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
No Result
View All Result

AvidXchange Surveys Community Associations Institute Members on Top Industry Priorities for 2021

PaymentsJournal by PaymentsJournal
April 29, 2021
in Accounts Payable, Payment Automation, Press Releases
0
AvidXchange Surveys Community Associations Institute Members on Top Industry Priorities for 2021

AvidXchange Surveys Community Associations Institute Members on Top Industry Priorities for 2021

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

Research shows improving operational inefficiencies, eliminating paper are critical drivers for community management professionals and HOA board members

CHARLOTTE, NC (April 29, 2021) – AvidXchange, the leading provider of accounts payable (AP) and payment automation solutions for the middle market, today released a new report examining top priorities for the homeowners association (HOA) industry in 2021. According to data captured from +400 members by the Community Associations Institute (CAI), creating operational efficiencies is the foremost focus for 78 percent of respondents as they look to save money and time for their organizations. Additional priorities include making enhancements to the homeowner experience (68 percent), expanding community portfolios (56 percent), and improving the adaptability and flexibility of business continuity plans (40 percent).

As decision-makers seek out these new efficiencies, many are turning to technology to replace time consuming, paper-bound processes with automated workflows that improve critical day-to-day operations like paying bills. Among survey respondents that are passively researching or actively considering payment automation solutions, 56 percent cited overall inefficiency as their motivation for seeking out an AP solution to automate invoicing and payments, followed by 44 percent who pinpointed high paper volume and 40 percent who noted slow approvals from manual routing.

“This survey shows that community associations professionals are thinking ahead about how to achieve their 2021 goals by leveraging resources like automation,” said Tyler Gill, Vice President of Homeowner Associations at AvidXchange. “Not only will an automated solution help solve back-office inefficiencies for community managers, but it will also alleviate the 73 percent of survey respondents who have someone working in the office regularly just to check physical mail for invoices and payments.”

Optimizing AP processes through automation helps HOAs pay bills more efficiently by reducing the time and costs associated with manual data entry and paper-based processing. Automated invoicing and payments also enables enhanced security, remote access for approvals and real-time visibility for board members.

Read the full report to learn more about 2021 priorities and challenges for community management professionals and HOA board members. And to learn more about the benefits of AP automation, visit www.avidxchange.com/industries/community-association-management/.

Tags: Accounts PayableAvidXchangeoptimizationpayment automationPress Releasesurvey
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

    Analyst Coverage, Payments Data, and News Delivered Daily

    Sign up for the PaymentsJournal Newsletter to get exclusive insight and data from Mercator Advisory Group analysts and industry professionals.

    Must Reads

    live shopping, ebay

    Q&A: eBay Exec on Live Shopping and the Future of Payments

    March 24, 2023
    AI and Biometrics in Regulatory Compliance in Finance

    The Importance of AI and Biometrics in Regulatory Compliance in Finance

    March 23, 2023
    Everyone Benefits from the Real-Time Payment Networks  

    Everyone Benefits from the Real-Time Payment Networks  

    March 22, 2023
    commercial payments

    Optimizing Commercial Payments in the Digital Age

    March 21, 2023
    cross-border payments

    Cross-Border Payments: Fighting
    E-Commerce Fraud Using Data

    March 20, 2023
    fraud, ChatGPT-4

    How to Fight Fraud While Still Enabling a Great Online Customer Experience

    March 17, 2023
    RTP

    Financial Institutions Without an RTP Strategy Risk Being Left Behind

    March 16, 2023
    visa chargeback

    New Visa Chargeback Guidelines Will Be a Game Changer

    March 15, 2023

    Linkedin-in Twitter

    Advertise With Us | About Us | Terms of Use | Privacy Policy | Subscribe
    ©2023 PaymentsJournal.com

    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Videos
    Menu
    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Videos
    • Industry Opinions
    • Recent News
    • Resources
    Menu
    • Industry Opinions
    • Recent News
    • Resources
    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Industry Opinions
    • Faster Payments
    • News
    • Jobs
    • Events
    No Result
    View All Result

      Register to download the Payoneer eBook: