The Biggest Misconception About Vendor Compliance Over the years, the role of Vendor Compliance has evolved primarily into a manager reviewing insurance certificates and filing them away for another day, in order to fulfill their compliance management function. There have now been significant changes in case laws that put community management firms in primary positions of liability. Additionally, all community management E&O insurance policies excluded this type of work to be done by company employees. Unfortunately, it is still common for community management executives to be uninformed of all the exposures of risks affecting their enterprise, as well as how these risks may impede business objectives or even survival. The increasing tide of threats, lawsuit cases, and regulatory requirements is rightfully closing this uniformed exposure gap, which has led to changes in executive expectations for vendor compliance programs. These expectations have resulted in change from the same old programs of verifying vendor’s insurance certificates, contractor licenses, and responsible parties. The understanding is that information has been ignored, due to everyday busy schedules and pressing tasks to complete. This vendor compliance myth isn’t new or applicable in every situation. For the foreseeable future, technology will remain essential for security teams to understand from a combined capabilities, management, and limitation perspective. The reality is that the expectations of a security team should be the orchestration of security across people, processes, and technologies to protect information in support of the organization’s business objectives. While the tides are changing, much work remains to be done. Recent surveys indicate that only 8% of organizations are part of a vendor compliance program that is auditable and constant throughout the organization, protecting the business and the associations from vendor risk. Your People It’s imperative that the people tasked with a vendor compliance program in your firm understand the fundamentals and have experience and tools in doing so, whether they are an accounting department staff or community managers. Historically, vendor compliance was viewed as strictly a community manager responsibility. Now, community management executives are beginning to realize that compliance goes beyond the borders of the community manager’s expertise. Therefore, it’s important to provide your management teams with the reliable and easy to use system they need to stay...
Read MoreAs a Community Manager, Are You Wasting Your Time? Your Success is Our Success No, we’re of course not implying that being a community manager is a waste of time. The question is, are you wasting valuable time in your day-to-day responsibilities as a community manager? Are you falling further and further behind because your methods and protocols are unwieldy and out of date? Are issues that arise taking twice as much time to resolve as they should? Well then, it’s time to take action. Here are some ideas to consider. No Time, Tools or the Expertise A lot of folks try to review insurance certificates and have no clue what they are reading. Do you know the difference between an Acord form CG2010 and a CG2037 ? Probably not. Why let managers take on the vendor compliance responsibilities by themselves when your company’s Errors and Omission policy has standard exclusions for vendor compliance work. Realizing that you need experts help, and raising your hand to get it are two crucial steps that can mean the difference between success and failure in your community management business. Don’t wait any longer since there is now a Vendor Compliance Company that specialize in Community Management Vendor Vetting. Focus on what you do Best If you’re a talented community manager, then be the best community manager you can be. If you’re terrible when it comes to vendor compliance vetting, including checking up on contractor’s license and insurance coverages, and getting the renewal insurance certificates, etc. — then join the party with every other manager! You don’t have to do this any longer. Association Services Network can handle all of those responsibilities for you. The best part is--It will cost your company NOTHING! Asset Protection Vendor Compliance Program™ Visit and see what it is! Simply put, it is a vendor compliance program to help you increase productivity while adding layers of protection for your business and associations. Association Services Network is a best-of-class, easy-to-use, Asset Protection Vendor Compliance Program solution for condos, and associations. ASN provides the easiest Vendor Directory and integration capability to management software available to property managers, leasing agents, boards of directors, and back-office personnel. Quickly and easily access...
Read MoreBenefits of Doing Business with Association Services Network Your Success Is Our Success The Association Services Network Team provides enhanced solutions to help meet the objectives of your staff and their clients. Our high level of service creates efficiency, support and success for all our partners utilizing our Asset Protection Vendor Compliance Program™. Are You Looking For... A True One Stop Shop Asset Protection Vendor Compliance Program? 24/7 Access to Vendor Directory by all staff members Reduce company cost while increasing productivity and revenue Outsource to a Specialist in the Association Management industry Collect – Vett – Asset Protect Insurance Certificate Management Contractors and Specialty Licensing Verification Advanced Communication Software to keep vendors compliant W9 Collection User-friendly informative website to assist vendors Customizable Vendor Information Form (VIF) to be completed by each vendor Integrate to your Management software All at no cost to you! Why We Do It... By transferring risk to the party that has the coverage to protect your company’s asset and the assets of the associations you manage is our goal. With over 35 years experience in the HOA insurance industry, we have seen the need to bring a vendor vetting program that works for the whole HOA community. We pride ourselves in helping our clients meet and exceed the goals that they have set for themselves. Association Services Network is a best-of-class, easy-to-use, Asset Protection Vendor Compliance Program solution for condos, and associations. ASN provides the easiest Vendor Directory and integration capability to management software available to property managers, leasing agents, boards of directors, and back-office personnel. Quickly and easily access to whatever you need, whenever you need it. Act on the documents and vendor information at your fingertips. AT ABSOLUTELY NO COST TO YOU! Contact us today! ASN4HOA.COM/CACM or...
Read MoreTrust Thyself – To Thine Own Management Company Be True At first glance, property management seems forthright — a team is put together to run the day-to-day operations of a property and make sure the numbers run efficiently. However, there exists a complex relationship between homeowners and property managers, between property managers and association board members and owners, and between these groups the long list of vendors and service providers within the communities. It takes a professional team to make sure everything goes smoothly. Boards enlist a property management team selected in-house or hire a property management company. Studies prove board members who choose honest, reliable, dependable people to fill this role get honesty, reliability, and dependability. Property Managers who hire honest, reliable and compliant landscapers, roofing and plumbing contractors, and maintenance crews know things will get done with a little to no hassle. Problems & The Wrong People Any number of things may go wrong when the wrong people are put into these roles. There are all sorts of horror stories out there about property managers verbally abusing residents, maintenance staff stealing from residents, vehicles being damaged—the list goes on and on. Recently, in Los Angeles, California, a management company that hired a rain gutter company with no license or worker’s compensation coverage which cost them and the association $6 million each after an injured worker got electrocuted when he removed part of a rain gutter and connected to a high power line. Asset Protection Vendor Compliance Program™ Asset Protection Vendor Compliance automates the management and review of Vendor & Service Provider insurance. Association Services Network (ASN) is the only compliance company that specializes in Association Management Vendor Compliance. ASN allows the tracking and managing certificates of insurance (COI) for all vendors who work at your company’s associations to be fast and reliable. The ASN Asset Protection Vendor Compliance Program™ provides a paperless, real time, Vendor Directory including key contact information and status of compliance. The directory is accessible by your management team real-time, online, 24 hours a day. Association Services Network is a best-of-class, easy-to-use, Asset Protection Vendor Compliance Program solution for apartments, condos, and associations. ASN provides the easiest Vendor Directory and integration capability to management...
Read MoreASN Announces Asyst Collaboration Association Services Network (ASN) today announced the ability for property management companies to seamlessly integrate their vendors and payables with Asyst Data Group, Inc. making vendor credentialing and compliance even simpler than before. The company's integration makes them more visible as a member of Asyst6 product line. "ASN continues to move forward by recently bringing on 9 property management companies and having this integration will not only save time and improve ROI by fully automating the vendor credentialing process, but also it will streamline workflow and reduce liability exposure for our mutual clients," said Robbin Roberts, Chief Operations Officer of Association Services Network....
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