Sep 16, 2021

Posted by & filed under Credit.

The global economy is expected to expand 5.6% in 2021, the fastest post-recession pace in 80 years, largely on strong rebounds from a few major economies, according to the World Bank’s June 2021 Global Economic Prospects report. Many emerging markets and developing economies, however, continue to struggle.

An analytical section of the report examines how lowering trade costs such as cumbersome logistics and border procedures could help bolster the recovery among emerging market and developing economies by facilitating trade.

Despite a decline over the past 15 years, trade costs remain almost one-half higher in these countries than in advanced economies, in large part due to higher shipping and logistics costs. Efforts to streamline trade processes and clearance requirements, to enable better transport infrastructure and governance, encourage greater information sharing, and strengthen competition in domestic logistics, retail, and wholesale trade could yield considerable cost savings.… Read the rest

Sep 16, 2021

Posted by & filed under Meet the Team.

Liz Casillas, Collection Specialist
San Diego, California Office

Hello, my name is Liz Casillas and I was employed by San Diego Wholesale Association since July 1996 when NACM Commercial Services acquired our firm in May 2019. I was thrilled when NACM Commercial Services allowed me to continue in their firm in a position I’m familiar with…collections.

I’m involved in my local Moose Lodge, VFW Post, and my church Saint Therese Parish as a lector. I have a house full of animals (birds, dog, cats, chinchillas, and fish) and a wonderful man named Andy who I met at the Moose Lodge years ago. They all keep me pretty busy outside of work.

I’m grateful to NACM Commercial Services who provided all the needed hardware and assistance to allow their employees to continue working from home during the past year and I’m looking forward to returning full time to the office and getting out of my PJ’s and wearing dresses and high heels again!… Read the rest

Jul 21, 2021

Posted by & filed under Electronic Signatures.

By Scott Havn, Esq. and Jean C. Arnold, Esq.

The question: “Are electronic signatures legal,” usually comes up regarding credit applications, personal guaranties, and other routine business documents. The short answer is, “Yes.” However, there are caveats and practical considerations before using electronic signatures for all documents and circumstances.

Even before the pandemic and the need for social distancing, businesses, and government were relying on electronic signatures and records to operate efficiently. The Uniform Electronic Transactions Act (UETA) was developed to provide guidance and conformity to electronic signatures and records. Although states were not mandated to adopt UETA, 49 states have adopted the Act, with Illinois the last to adopt their version in 2021. The only state which has not adopted UETA is New York, and they have their own statute with similar provisions.… Read the rest

Jul 21, 2021

Posted by & filed under Economics.

Written By: NACM National

More CEOs anticipate an economic boom (60%) rather than stagnation (40%) in 2021 and 2022, according to a recent survey of CEOs and senior executives by Gartner, Inc., a research and advisory company. Most respondents (35%) anticipate returning to or exceeding 2019 revenue levels as early as this year.

More than half of the respondents identified growth as their primary focus, followed by technological change and corporate action.
The annual Gartner 2021 CEO Survey was conducted between July 2020 to December 2020 among 465 actively employed CEOs and other senior business executives in North America, EMEA and APAC across different industries, revenue and company sizes.

CEOs Prioritize Digital

Technology-related change was the second-highest priority for CEOs.… Read the rest

Jul 21, 2021

Posted by & filed under Credit.

The importance of cash flow is undeniable; the write-off of bad debts affects more than your firm’s cash flow; it also impacts sales and marketing efforts. The table below shows the “multiplier” impact on sales from bad debt write-offs.

For example, you have an account that you write-off for $100,000, and that sale had a 2% profit. To compensate for the loss, you would need to produce an additional $5,000,000 in sales to offset the loss of profit on the $100,000 in write-offs.

NACM CS is certified by Commercial Collection Agencies of America and can help recover your bad debt. Our collector’s primary focus is to collect debts and knows the techniques to get you paid.… Read the rest