Association Leaders Embrace Mergers and Technology Amidst Agility Challenges

Association Leaders Embrace Mergers and Technology Amidst Agility Challenges

A recent survey by Wipfli LLC, cited in an Associations Now article, reveals that association leaders embrace mergers while maintaining optimism about their financial outlook and investing more in technology. With 80% planning to increase spending on data analytics, AI, and CRM, these leaders see technology as crucial for enhancing membership services and adapting to rapid technological advancements. Conducted in May with 228 leaders, the survey also shows strong financial confidence, with 83% reporting improved financial viability over the past five years.

In addition to technology investments, leaders are exploring consolidation opportunities. Nearly half (48%) are considering merging or consolidating with other associations in the next two to five years, and 78% are open to the idea within five years. This strategic interest in mergers is primarily driven by potential benefits rather than economic concerns, especially among larger associations and professional groups.

The survey also identifies a significant challenge: the need for greater agility. 38% of leaders cited the ability to adapt to a changing environment as their top challenge, often linked to difficulties in recruiting and retaining talent. Despite this, only 11% of associations are using automation to address staffing issues, suggesting a missed opportunity. This factor also relates to why association leaders embrace mergers.

Kathleen DuBois from Wipfli emphasizes that effective technology use and strategic planning are crucial for enhancing agility and enabling quick adaptations. She notes that a robust framework and a culture of technology innovation are key to navigating these challenges and seizing opportunities.