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Looking Ahead
Why should I submit potential members to NACM?"
Help gain information on your customers. As a member, their information could help build the database on your customers. It's not just a one-way street. more Info
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Ten Must Have Attributes
by Susan Lujan, CCE, Kenworth Sales Company
We're sick of hearing about "The Economy." It "is what it is" and there's very little we can do about it. But, understanding the game and developing a strategy will play greatly into your success.
Your personal "Economy" is most likely tied to your employment. Will understanding what your employer needs help in developing a strategy and improve your odds for success? Absolutely!
Here are 10 must have attributes for employment success:
1. Personal Initiative - See what needs to be done and DO it. If someone else should have done it but didn't and you use that for your own excuse for inaction, you are just as guilty.
2. Capacity for Collaboration - Have the inclination and ability to involve others and get involved. Check your ego and emotions at the door.
3. Mental Agility - This is quickness and accuracy of thought as well as situational awareness. Success depends on all three. View full article
Budget Now for Credit Congress 2012
Q: Where can I find the knowledge and training to protect my company's accounts receivable?
A: NACM's Credit Congress & Exposition. NACM assembles the cream of the crop in the field of business-to-business credit and packs it into three full days of education. Regardless of your level of experience and knowledge, Credit Congress provides a stimulating and enlightening variety of topics to assist any level credit personnel to advance.
Here is a broad view of what Credit Congress offers:
*Doing business with the Building & Construction Trades
*Cash, Credit & Collections Management
*International Credit
*Protecting Your Company from Credit Fraud
*Legal Issues
*Performance Metrics
June 10-13, 2012, Dallas Texas More info
Have You Tried NACM Collection Services?
NACM has a full service collection department. Trained collectors work to collect your past-due accounts, large or small, as quickly as possible. Our collectors are firm, but fair, with your customers. The primary objective is to collect your money.
NACM collection services include:
10-Day Demand Letter Service
Collection Service
Litigation Service
Online Access to Account Status
More information about NACM Collection Services or contact Scott Lee at 801-433-6106.
Pay For It or Give It Back!
by Scott W Lee, JD, CCE
You just found out that the customer you sold to last week is insolvent. Now what?!? Actually, there is something you can do.
.Reclamation. It isn't a guarantee of payment but it does improve your chances.
Let's start by clearly stating the right of reclamation applies only to the goods delivered to the customer by you. You have no right of reclamation for any other goods. Next, it applies only to "goods." "Services" are not covered. Making the demand for the return of your goods does not need to be complicated. But, if your customer actually files a bankruptcy petition you will need an attorney.
The right of reclamation under the Uniform Commercial Code (UCC) allows credit grantors the right to reclaim goods when the creditor discovers the customer received goods while the customer was insolvent. The demand for reclamation must be in writing and within 10 days of the date your customer received the goods.. View full article
NSF Plus
By Duane Lee, CCE, SOS Staffing Services
Information is a key element in my risk analysis of new and existing customers. Much of my department budget is spent on obtaining credit reports from different sources. A lot of time is spent pulling reports or searching databases in an effort to get as much information as I can so I make the correct decision regarding a company's bad debt or slow pay risks. Current information is sometimes hard to acquire. It is a great disappointment when I see that a credit report has financial information but then I find that it is 4 years or more old. Another problem is the time it takes to search for the data. I find looking for specific information in the US Courts' PACER system to be a good representation of designing a system that is NOT user friendly.
When NACM first rolled out NFS Plus, I was intrigued by the concept. A service that allows me to view bad checks, write offs, legal and collection activity and more about local companies in one website sounded good. I signed up for the free trial and looked through the database. The information was there and readily available. My only consternation was knowing that my hectic work schedule would result in me not logging in on a regular basis. I was seriously considering not signing up. Then my first NSF Plus Alert email arrived. I was elated. Here was a summary of the latest postings to the database. This is what I needed, a periodic reminder of the good information that is in the database in an email form. I could immediately scan the information and compare it to my customer list if time permitted or leave it in my inbox for a more opportune time. I immediately sent an email to Julia Buck and signed up for my year membership.
I encourage you to sign up for NFS Plus. It allows you to log in anytime to access current information. If you get too busy and forget to log in, NFS Plus Alert arrives to give you the latest additions. It is a great resource for the Credit Professional.
The Credit Line Newsletter invites NACM members to write articles for upcoming issues. The articles should be based in business and credit management. Articles containing 350 words or more that are published are eligible for NACM Roadmap and CCE Recertification points.
Articles may be submitted to Georgette by email at GBevan@nacmint.com
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