Credit Card Surge Reshapes B2B Trade

May 23, 2024

Posted by & filed under Credit, Surcharging.

Jamilex Gotay, editorial associate, NACM

In recent years, credit cards have surged in popularity among customers within the B2B credit industry.

Why it matters: Knowing why this trend is happening is critical for B2B trade creditors as it holds the potential to alter financial strategies and influence business operations.

What they’re saying: “Severe inflationary pressures over the past three and a half years have driven margins down significantly, and more businesses have started to accept credit cards in B2B trade at a drastically accelerated rate,” Andrew Behlmann, partner at Lowenstein Sandler LLP (Roseland, NJ) said during a live NACM webinar, Just a Little off the Top: Strategies for Reducing the Growing Cost of B2B Credit Card Acceptance.… Read the rest

Gather & Grow + NACM CS Foundation Raffle

May 23, 2024

Posted by & filed under Credit.

We appreciate your participation in the NACM Commercial Services Foundation fundraising portions of the event. Your contributions raised nearly $2700.00 in Portland and $5000.00 in Spokane for future scholarships!! THANK YOU!

We would also like to express our gratitude to all our members for participating in the Gather and Grow—Credit Professionals Event. Your involvement and support made the event a resounding success.

A special thank you goes out to all those who donated to the foundation fundraiser. Your generosity is helping to create valuable scholarship opportunities for the future.

Thank you once again for your incredible support and participation! (See list Below)

Thank You Donors

Alaina Worden, CCE
American Tradesmen
Brett Hanft, CBA & Zendra Hanft
CAD of Spokane Inc
Clara Nemeth, CGA, CCE
Cinola Restaurant & Lounge
Coast Cutlery
Columbia Sportswear Co
Costco Wholesale
CPM Development
Dunn Carney LLP
DuPree Building Specialties
Erin Stammer, CCE
Fueled Coffee Company
Inland Welding Supply DBA
A-L Compressed Gasses
Jen’s Bagels & Pastries LLC
Kai USA Ltd
Karol Saito, CBF
Keen Inc
Kilgore TEC Products Inc
Kim Jones, CBA
Kodiak BP LLC

Mighty Johns Portable Toilet
& Septic Service Inc
Modern Glass
NACM Commercial Services
NACM National
Northern Republic
Nutrien US LLC
OrePac Building Products
Pacific Metal Company
Pacific Steel & Recycling
Parr Lumber
Peet Shoe Dryer
Ponderosa Bar & Grill
Shannon Japport
Sheryl Rasmusson, CCE
Spokane House of Hose
Star Rentals
Tawyna Marsh, CCE
The Bearded Ginger
Bar and Grill
WCP Solutions
Wilbur-Ellis
ZAK Designs Inc

… Read the rest

Why Your Business Needs an AI Policy

Mar 28, 2024

Posted by & filed under AI, Credit.

Written By: Jeremy L. Kahn, Principal at Berman Fink Van Horn

In April 2023, a series of inadvertent leaks of sensitive information by Samsung employees highlighted the potential risks associated with the use of generative AI. A Samsung engineer input confidential source code and asked ChatGPT to check the code for errors. And then another employee shared additional code with ChatGPT and requested “code optimization.” And then, yet a third Samsung employee created minutes of a confidential company meeting by feeding a word-for-word transcription of the meeting into ChatGPT. In each instance, the employee inadvertently—but publicly—disclosed Samsung’s confidential information to the public.

How could Samsung have prevented this? With a well-written AI policy and employee training specifically on the acceptable uses of generative AI.… Read the rest

How to build your “Credit”-ability

Mar 28, 2024

Posted by & filed under Credit, Leadership.

Kendall Payton, editorial associate

Credibility (or “credit”-ability for credit managers) helps establish trust and confidence with your customers, colleagues and upper management. In an industry where decisions can have significant financial implications, mere competence is often not enough to inspire confidence.

Why it matters: Credibility in the business world is arguably one of the most important characteristics of companies who are successful versus those who fade into the background. Even if your product is better, if you are not a credible individual or department, the impacts are significant.

Credit managers must strive to cultivate a unique brand of “credit”-ability—a combination of expertise, integrity and professionalism that sets them apart as trusted partners in risk management. And getting others to believe in your business decisions without trust is unlikely.… Read the rest

Experian Commercial Pulse

Mar 28, 2024

Posted by & filed under Credit, Economics, Experian.

Experian’s Marsha Silverman is excited to share with you the current Experian Commercial Pulse Report. She has the opportunity each week to analyze data on the millions of U.S small businesses in Experian’s database, and discover actionable insights that benefit our clients. Making these discoveries is rewarding work, and we utilize these insights to guide our recommendations.

  • The February inflation report had mixed results with core inflation declining but CPI and PPI increasing.
  • With inflation persistent, the Fed held interest rates flat but indicated three rate cuts will occur later in 2024.
  • Population migration to the southern United States increased the number of businesses opening in that region. Take a look inside this week’s report to see interesting commercial trends by region.
… Read the rest

2024 Long-Term Members

Mar 28, 2024

Posted by & filed under Credit, Member Spotlight.

As we celebrate another year of growth and achievement, we are profoundly grateful for the steadfast dedication and unwavering commitment of our long-term members. This year we have remarkable milestones of 25, 50, and an extraordinary 75 years of service to our association. We extend our thanks to these members for their invaluable contributions in shaping our organization’s success.

25-Year Members

Columbia Credit Union
Cowlitz River Rigging Inc
DCI
Empire Electrical Supply
Grover Electric & Plumbing Supply
Guess? Inc
Lyn-Tron Inc
McVay Brothers Contractors Inc
NW Industrial Mechanics Inc
OMSI (Oregon Museum Of Science Ind)
Overhead Door Inc
Oxarc Inc
Pacific NW Inlander
Portland General Electric
Portland Millwork Inc
Power Motive Corporation
Radio Cab Co
Skutt Ceramics Products Inc
Snow Peak Inc
Sylvan Forest Products Inc
Tim’s Comfort Plus
Tonkon Torp LLP
Washington Trust Bank
Wear Parts and Equipment Co
Wheatland Bank
Wolfkill Feed & Fertilizer Corporation

50-Year Members

Beacon Building Products
Cudahy Lumber Co
Norlift Inc
Northwest Pump & Equipment

75-Year Members

Rexel USA Inc… Read the rest