Optimize Cash Flow & Drive Profitable Growth With D&B Credit Advantage Cash

Jul 19, 2018

Posted by & filed under Dun & Bradstreet.

Flow: D&B Credit Advantage leverages Dun & Bradstreet’s analytics to determine risk in the marketplace and calculate the predicted default rate for each account in your portfolio. That information – combined with your data on how accounts are paying you – helps you to benchmark and validate that your bad debt reserve is maximizing working capital.

Growth: With D&B Credit Advantage, you’ll be able to provide sales opportunities for your business development and sales teams by identifying existing customers who represent a low credit risk but could have the propensity to buy more. Ask your NACM representative to learn more about D&B Credit Advantage! … Read the rest

Congratulations to Our Newest Designation Holders

Jul 19, 2018

Posted by & filed under Certification.

Congratulations to the newest designation holders!

CBA

Stacy Tully, CBA from Cardinal Health, Inc.
Erika Stell, CBA from Slakey Brothers
Lindsey Overline, CBA from Interstate-Electric

CCRA

Ashlee Minty, CBA CCRA

CCE

Barry Dambrowski, CCE from Emser Tile
Mark Speiser, CCE from SuperValu Inc – West Region… Read the rest

Five Tips for Successful Data Monitoring

Jul 19, 2018

Posted by & filed under Credit, Data Contribution, Experian, Technology.

Is bad data negatively impacting your business? What if you could identify data quality issues before they wreak havoc on your organization? You can with a proactive data monitoring solution. Here are five tips for developing a strategy for round-the-clock monitoring.

  1. Know your starting point: Benchmarking your data with a full volume data analysis is the first step in setting up data quality monitoring. Unfortunately, there isn’t a single, all-encompassing list of data quality metrics to keep track of—it’s very business and function specific, which is why it’s important to analyze all of your data. This will show you exactly how significant your data challenges are.
  2. Identify the data quality issues that have the most significant impact on the business: Now that you’ve identified the most critical data quality issues, you can prioritize which need to be addressed in a timely manner and which can be addressed later.
… Read the rest

Kathy Tomlin – Award of Exceptional Achievement honoring Alice M. H. McGregor

Jul 19, 2018

Posted by & filed under Certification, Member Spotlight.

We are pleased to announce that Kathy Tomlin, CCE, has been awarded the NACM National Award of Exceptional Achievement honoring Alice M. H. McGregor.

After graduating from St. Mary’s College in California, Tomlin began working for the federal government before what she described as accidentally falling into credit, and effectively falling in love with the industry. Tomlin joined NACM in 1980 after accepting a job in credit she thought would be a temporary placement. However, when she was offered a permanent position only a week into a temp position, Tomlin said she was more than happy to take on the job and began working for Kaiser Cement for the next 26 years. This was just the beginning of her journey as a credit manager.… Read the rest

Credit Manager and Debtor: A Psychological Dance

Jul 19, 2018

Posted by & filed under Collections, Credit.

“Nothing involving human relationships is clear or simple,” said Kelly Jameson, Ph.D., a psychotherapist and presenter at NACM’s 122nd annual Credit Congress in Phoenix last month. A romantic relationship between human beings is a complex “psychological dance” comparable to the relationship between a credit manager and a debtor.

During an exploration of the nine stages of a personal relationship, Jameson and her husband, Attorney Chris Jameson encouraged creditors to hone similar communication skills necessary to maintain a healthy and successful relationship with customers—the same skills that are often present in a romantic relationship. The Jameson’s both work in their respective fields in Dallas, TX. Their presentation was titled, “Analyzing the Psychological Dance Between the Credit Manager and Debtor.”… Read the rest

Five Practices to Help You Get Paid from Construction Industry Customers

May 14, 2018

Posted by & filed under Collections, Construction, Credit, Lien Law.

By Laurie Hager, Sussman Shank

Collection of accounts receivable is vital to any business, and the construction industry is no exception. When a customer timely pays without incident, things are great. Sometimes, however, customers do not pay on time for a variety of reasons. Perhaps the customer cannot pay because of cash flow problems. Other times, a customer may choose not to pay, because it disputes work or product provided, or because of a dispute, the customer has with another party on the construction project for which the work or product was provided. Here are a few business practices that could help improve your company’s chances of getting paid in the event a customer cannot or does not willingly pay.… Read the rest