Jan 21, 2021

Posted by & filed under Credit.

Written By: Chris Finch, Sumitomo Electric and Scott Blakeley, Blakeley LLP

Credit teams are responsible for protecting and maintaining company’s accounts receivable, the most valuable asset for any company. The biggest threat to that asset is fraudulent orders. Fraudulent orders often lead to unrecoverable losses. After a loss of profit through a fraudulent order, companies often need to sell up to three or four times their normal sales to recover the loss profits (see table below).

The best way to manage this threat is to catch fraudulent orders before they have a chance to do any damage. The following information will help you stay ever diligent in your protection against fraudulent orders that could be a threat to your company.… Read the rest

Dec 2, 2020

Posted by & filed under Credit.

Enter our Holiday Raffle

Come party with us! We are usually all fun and games during our holiday parties and this year will be no different. Ok, so maybe a little different. While we can’t all come together, we can have some fun virtually and be entered into a raffle to win some prizes! 

We know all the reasons why we value our members, but we want to know the reasons why you value NACM. To enter for a chance to win, tell us 3 short reasons you value our relationship. Click the link below to leave a short video or even a written response. Winners will be chosen at random and emailed about their prize.… Read the rest

Nov 19, 2020

Posted by & filed under Credit.

If you are an engineer or credit manager, you might answer that the glass is twice as big as it needs to be.  The sales leader would add that while you were debating whether it was half empty or half full, they sold it.

The outlook for the economy is arguably mixed right now, and factually there is an argument for both the glass half full and glass half empty crowds.  In fact, when we study forecasts for the economy, we get three dominant scenarios that couldn’t be further apart.

The most optimistic of scenarios assumes that localized lockdowns work against the pandemic and a smaller section of the economy is impacted. Some success with early vaccine distribution is accomplished early in Q1 and some broader-based travel starts to open.… Read the rest

Nov 18, 2020

Posted by & filed under President's Message.

It’s near December already! While most of us are wishing away 2020 as a year we want to forget (but can’t!), Credit professionals should be looking to clean up your company’s accounts receivable in preparation for year-end. This would include identifying accounts not paying timely, contacts who are not responding, and receivables growing more delinquent by the month. NACM is your partner in debt recovery and this is one of our busiest times of the year assisting member companies in collection efforts prior to year-end. I would encourage you to send NACMCS accounts you are struggling with rather than just writing them off. Or, perhaps you intend to write them off assessing your time is more valuable than the dollars owed.… Read the rest

Nov 18, 2020

Posted by & filed under HighRadius.

Is Your Accounts Receivable Process Slowing You Down?

In today’s digital economy, a company’s survival hinges on its potential to manage working capital and cash flow while ensuring customer satisfaction along the way. Mid-sized businesses heavily depend on cash for their day-to-day business operations and growth. In times of uncertain economic swings, optimized cash management could make all the difference between simply surviving versus having the edge over your competitors.

Accounts Receivables ( A/R ) is critical to cash flow and a clear indicator of the business’s financial health. Most mid-sized businesses are familiar with the traditional manual, paper-based A/R processes that more often than not, end up hurting the company’s cash conversion cycle. As a result, businesses are inevitably moving towards automating their accounts receivable processes and upgrading their payment landscape by introducing digital payments.… Read the rest

Nov 20, 2020

Posted by & filed under Credit.

Congratulations to our newest designation recipients from the last few exams. Are you interested in education and getting a designation? Check out this guide on the certification program. If you have any questions contact Shawna Kelly.

Certified Business Associate (CBA)
Adeline Flowers, CBA – Wagner Equipment Co
Dan Clarke – Pure Storage Inc
Lainie McElroy, CBA – Helena Agri-Enterprises LLC

Certified Business Fellow (CBF)
Autodesk Inc – Eleanor Hartman, CBF… Read the rest