May 21, 2020

Posted by & filed under Business Credit Journal, COVID-19, Economics.

As we speak with hundreds of business executives, there are two primary thoughts that seem to be on the top of their minds. They want to know what the economic recovery curve looks like for the next year and what the prospects of a worse, Wave 2 of the virus this fall are. Of course, these go hand in hand.

Almost laughingly, there are so many different types of recovery curves being mentioned. We have the V, delayed V, U, elongated U, hockey stick, W, M, Swoosh, and just this week, the Z (although that was largely a joke). When we compile economist’s viewpoints from around the world coupled with virologist predictions, we can see a predominant leading scenario jumping to the forefront.… Read the rest

May 21, 2020

Posted by & filed under Credit.

CEO Message:

As we adapt to new ways of accomplishing our daily jobs, one can’t help but miss the interactions taken for granted just a few short months ago. We continue to miss all our in-person meetings, as there is nothing that replaces building a relationship with someone in a face-to-face environment. I’ve been amazed at the resiliency of the NACMCS staff and how they adjusted to the quick change without missing a beat in customer service. We are fortunate to have an outstanding team working to support NACM member companies.

With all that’s happened in our lives over the past couple of months, it makes 2019 seem so long ago! We missed our annual meeting opportunities this spring, so in replace, I’ll provide a short recap of the organization’s performance in written form.… Read the rest

May 21, 2020

Posted by & filed under Business Credit Journal.

NACM Commercial Services bids farewell to Joshan Collins on May 8, 2020. By her own admission, Joshan is a NACM “lifer!” Over the course of her career, Joshan has logged 40+ years working with four different NACM Affiliates! Joshan spent the majority of her career with San Diego Credit Association (NACM San Diego). She joined the San Diego staff in 1990, and by 2001, she was elected by the Board of Directors to Vice President. Her leadership and experience, always exceptional, was vital in bringing San Diego/Colorado/New Mexico and NACM Commercial Services together in 2019.

Joshan is a true servant-leader and has forged enduring and meaningful relationships with many association members. During her tenure, Joshan has been invaluable in facilitating educational opportunities by way of the CAP and ACAP programs, successfully resulting in countless CBA, CBF and CCE professional designations for deserving members.… Read the rest

May 21, 2020

Posted by & filed under Credit.

Chair Jeff Butterfield has called for the 2020 NACM Commercial Services Foundation Annual Meeting to be held on Wednesday, June 24, 2020 at 5:30 p.m. via Zoom. All lifetime individual, lifetime corporate, and current annual members are invited to attend. We also welcome and encourage anyone interested in the operations and purpose of the foundation to attend and get involved.

During 2019, the NACM Commercial Services Foundation awarded over $17,000 in scholarships and certification support. We look forward to an equally successful 2020!

At the Annual Meeting, reports regarding the financial condition of the foundation, results of 2019 operations, scholarship reports, election of board members, and the election of officers will occur.

Please RSVP with Shannon Abnal at sabnal@nacmcs.org by June 23rd to receive the Zoom Link to the meeting.… Read the rest

May 21, 2020

Posted by & filed under Credit.

Sherri Hooker – Industry Group &
Data Contribution Coordinator
Portland, Oregon

Hello all, my name is Sherri Hooker– I was born and raised in Michigan and ended up in a long-distance relationship, moved to Oregon and married the love of my life 28 years ago. But let me tell you, when I broke the news to my parents that I decided I was moving to Oregon to become a Hooker, I think I permanently traumatized my family with that news. Lol All kidding aside, Oregon life has been amazing, and together, my husband and I raised 3 children as well as enjoying 4 adorable grandchildren.

Prior to NACM I worked at a local bank for almost 20 years and was part of a large company layoff which lead me to NACM which I now call home.… Read the rest

May 21, 2020

Posted by & filed under Credit.

If there’s one thing credit managers learn quickly after agreeing to extend credit, it’s how their department is going to get paid. Payment options from least to most risky include cash in advance, letter of credit (LC), documentary collection and open account. Although LCs hold less risk, American Export Training Institute President Chip Thomas, CICP, said the level of risk increases when creditors don’t know the process.

Over the course of his 22-year banking career and 43 years in international trade, Thomas said he’s seen the trials and tribulations credit managers encounter with LCs in addition to their numerous benefits. Thomas discussed what every exporter needs to know when using LCs during an FCIB webinar, where he described them as “the granddaddy of all payment methods.”… Read the rest

May 21, 2020

Posted by & filed under COVID-19, Credit, Experian.

The COVID-19 U.S. Business Risk Index was developed by Experian Business Information Services to help businesses better understand the impact COVID-19 may have on their commercial operation based on several key factors. This methodology combines business risk, anticipated impact on business industries and real-time COVID-19 case data to help businesses better simulate various impact scenarios down to the state level to help develop enterprise strategies.

http://go.experian.com/covid-business-risk-index

Read the rest