Why a Tech-Savvy HOA Vendor Matters

Why a Tech-Savvy HOA Vendor Matters on vendorsmart.com

Five small business technologies that can benefit you

You have many things to consider when choosing a vendor for your HOA community or condominium. There’s price, experience, equipment, reliability, trustworthiness, and level of customer service. Here’s one more aspect to consider before making your choice; the companies’ familiarity and use of modern business technology. Why does this matter when it comes to your community?

Here are five small business technologies that can end up benefiting you.

1. Time-tracking software

This tool helps businesses keep track of where workers spend their time. It allows them to see where hours have been spent on a job, maintain better accountability, and improve processes and productivity. The software also includes project management tools so they can stay on top of day-to-day activities and jobs.

How does this benefit you?

  1. The company keeps accurate records about hours spent on jobs, which matters when it comes to billing.
  2. The company can maintain better control of projects, so they are completed faster and on budget.
  3. More efficient operations mean the vendor can provide service faster, so homeowners and community members remain happy.

2. Financial software

There are many different kinds of financial software. It’s used to create and send accurate billing, provide online billing services, file business-related taxes, and keep accurate bookkeeping records. Above all, financial software can help streamline processes and reduce business’ costs.

How does this benefit you?

  1. The HOA can receive and pay invoices online, which saves time and helps you keep track of expenses.
  2. Fewer billing errors.
  3. If the business can cut costs on their end, you could end up seeing savings in terms of lower costs for services and projects.

3. Cloud server technology

Many vendors have switched to paperless business processes, which means all documentation is saved on a cloud server. These servers can be on-site or located remotely and managed by a third-party vendor.

Going paperless can be a huge advantage for small businesses, as it allows them to save time and money. Cloud technology also means anyone can access documents from anywhere. Remote workforces can access work orders and route jobs to the right personnel.

Another benefit is that documents such as contracts and project specifications can be created, shared, edited, and saved with anyone who needs them.

How does this benefit you?

  1. The HOA board or manager can receive contracts and other documents for faster approvals and an enhanced ability to make changes or updates.
  2. You can receive invoices online, either in a digital format or through an online payment service. This makes the process of paying and tracking bills more efficient.
  3. Going paperless can allow the company to provide better customer service as their workers have easy access to job orders, customer information, and customer feedback.
  4. The company can save money on paper products, printing, and copying, which can translate to lower costs for you.

4. Customer relationship management software

Maintaining good customer relationships is essential for any business, whether a retail store, marketing firm or a vendor providing services to managed communities. Customer relationship management (CRM) software includes “…any tool that helps a business manage inbound and outbound communications across multiple channels, efficiently deliver service, and resolve issues.”

The software can be used to do things like setting up an online help desk, scheduling appointments, recording work requests, and setting up surveys/questionnaires.

The software can also be used to save key information about clients, such as past work orders, work schedules, contact information, and communications in case there are questions later.

How does this benefit you?

  1. CRM software helps the company provide better and more efficient service to you.
  2. You can make requests and give feedback easily.
  3. The company is better able to track what works needs to be done.
  4. The company will always know how to contact you if needed.
  5. There is a clear record of work that has (or has not) been done if there is ever a dispute.

5. Mobile work solutions

Vendors that provide services to managed communities rarely operate in a traditional office setting. They have workers out of any number of locations every day. Solutions such as mobile office software, remote desktop applications, cloud servers, and specialized apps always make it possible for remote work teams to stay in touch.

How does this benefit you?

  1. Workers in the field can access needed information with the touch of a button at any time of day or night.
  2. Management tools and apps make it easier for vendors to track and provide services to you.
  3. Smart devices, virtual phone numbers, and electronic fax lines mean you can reach vendors and conduct business no matter where they happen to be.

Let VendorSmart help you manage vendor relations

There are many qualities to look for when hiring a vendor. One you may have overlooked is a vendor who knows how to incorporate modern technology into their business model. These tools make businesses run more efficiently and ultimately provide better service to you.

VendorSmart can be your HOA management partner from the moment you start the vetting process. We also provide ongoing vendor support, including risk management and compliance management. If you are looking to hire a vendor or manage the certifications of current vendors, contact us to get started.