Jan 21, 2021

Posted by & filed under Credit.

Written by Diana Mota, FCIB

Nearly 20% of credit professionals who responded to the December FCIB International Credit & Collections Survey said they were experiencing an increase in payment delays in Mexico. About 10% noted a decrease; 62%, no difference; and 10% were not experiencing any delays.

The majority of respondents offer payment terms of up to 60 days. About 23% offer 61-90 days, and about 5% do not offer terms. The top three contributors to payment delays were cash flow issues (42%), customer payment policies (16%) and cultural norms and customs (11%). Average number of days beyond ranged from none to 75 days.

“Mexico’s economy is extremely volatile, and it is customary for customers to try and negotiate credits when they are extremely past due,” a respondent noted.… Read the rest

Jan 21, 2021

Posted by & filed under Credit.

Laura Rothman – Account Executive
California

HI, I’m Laura and I’ve been an Account Executive with NACM Commercial Services for almost 2 years although I’ve worked within the NACM for 30 years!

I live in Laguna Niguel, California, and service our membership in the Southern California Region. It’s been an educational 30 years, learning about various industries – what members manufacture or distribute, who they sell to, how they are affected by the economy, pandemic, and more. I also enjoy learning about my members on a personal level; their families and interests, pets, etc! Sadly, the pandemic has prevented me from being able to visit my members, but I hope to be out and about again in 2021!… Read the rest

Jan 21, 2021

Posted by & filed under Credit.

December 2020 Report
Dun & Bradstreet’s U.S. Economic Health Tracker is a monthly, multi-dimensional review of the health of the economy.

U.S. Small Business Health Index
The Small Business Health Index (SBHI) measures business health at the Metropolitan Statistical Area (MSA) and Industry (SIC) level as it relates to payment patterns, failure rates, and credit use. The SBHI follows a sampling of all active small businesses with fewer than 100 employees and combines pro- and counter-cyclical elements to provide a simple, representative number. Using 2004 as the base year (index value 100), improvement is designated by an index value above 100. The index is a combination of pro-cyclical and counter-cyclical elements – reflected in one number and is calculated quarterly.… Read the rest

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