ROCHESTER HILLS, MI / ACCESSWIRE / October 1, 2024 / TechCollect, the only AI-powered accounts receivable solution for community associations, announced today CINC Systems as one of their newest integration partners. With over 4 million homeowners benefiting from CINC's AI-powered community management platform, this integration offers an enhanced, seamless solution for managing past-due balances.

"CINC's product roadmap closely aligns with ours," said Gar Liebler, founder of TechCollect and Equity Experts. "Like us, the software provider is researching all the capabilities that generative AI has to offer to improve the homeowner experience while alleviating manager workload. It only makes sense for our AI to work together to create this enhanced HOA experience."

With full access to TechCollect's advanced capabilities, CINC clients can now leverage its AI-driven collections workflow. Rather than relying solely on generic communications at prescribed intervals to homeowners, TechCollect's algorithm generates a unique communication workflow and payment options based on over 1,000 data points. As a result, up to 70 percent of delinquent accounts are being resolved before attorney involvement, far surpassing the industry average.

"Partnering with TechCollect is a major win," said Ashley Berenson, Chief Product Officer of CINC Systems. "At CINC, our goal is to leverage the latest in GenAI to enhance homeowner experiences, keeping them more engaged with community perks and less frustrated by association rules. Through our partnership with TechCollect, management companies can now offer homeowners even more advanced technology, delivering a personalized, user-friendly experience during challenging moments like debt collection."

Another significant benefit for CINC clients is the ability for management companies to increase profits. "With reduced labor and attorney fees in a complex process like debt collection, profits naturally rise," Liebler explained. "Annual Condo and HOA delinquencies currently exceed $9 Billion, the majority of which is collection costs and legal fees. Our zero-labor solution returns up to 70% of those dollars to communities and managers. The result is improved financial health and harmony within community associations."

The harrowing statistics discussed by Liebler can be found in TechCollect's latest report, AI Meets AR. In this report, TechCollect partnered with ReadySignal and OneMagnify to understand the impact Generative AI has had on debt collection thus far and where data scientists believe the holistic impact can be in the future. "Machine learning within TechCollect continues to improve results for communities as it processes data and evaluates human behavior," Liebler said. "Experts believe we will see 90% recovered prior to attorney involvement in the future."

CINC clients can access TechCollect directly through their CINC portal, and can reach out to their account manager for quick setup assistance. To learn more about TechCollect's partnership with CINC and other association management software providers, visit their partnership page.

About TechCollect

TechCollect is the only accounts receivables solution in the community association management industry that leverages the power of generative AI to revolutionize the collections process for property management companies. Designed to make collections more humane and efficient through personalized communication plans, TechCollect empowers associations to manage delinquency with a cutting-edge approach that prioritizes both financial health and community harmony. With its innovative patent-pending technology, TechCollect is setting a new standard in the industry, helping associations achieve success without compromising on compassion. For more information, visit www.techcollect.ai.

Gar Liebler
Founder, TechCollect
gar@techcollect.net
248-929-0000

​​About Equity Experts

Equity Experts is a national leader in financial services dedicated to helping homeowner associations (HOAs), condominiums, and property management companies recover past-due assessments and bad debt. Since its founding in 2004, Equity Experts has provided innovative, results-driven solutions that go beyond traditional collections, focusing on preserving relationships while maximizing recovery. By offering a unique performance-based pricing model, Equity Experts ensures that associations of all sizes can access top-tier services without upfront costs. For more information, visit www.equityexperts.org.

​​About CINC Systems

CINC Systems is the largest provider of accounting and management software in the community association management industry and the innovator behind accounting and banking integration. Founded in 2005 by a banker as the industry's first SaaS offering, CINC systems now employs more than 230 people and provides software and applications to more than 37,000 associations across the U.S, servicing over 4 million homeowners. In January of 2024, Hg Capital made a significant investment in CINC to accelerate the company's growth trajectory and institute rapid product development.

SOURCE: TechCollect I Equity Experts