Look for the Warnings Signs of a Distressed Customer
Being able to discern the warnings signs of a financially distressed customer is critical. Although a decline in cash flow is the most important bellwether of financial distress, about 80% of all companies are privately held and don’t provide detailed financial information. As a result, creditors must rely on their customers’ payment patterns, competitors’ experience with the customer, […]
Designee Spotlight – NACM National
Thank you NACM National for sending over this Designee Spotlight from the June Business Credit Magazine. You can view a larger version of this image by clicking on the image.
Five Ways to Get the Most from Automation with Optical Character Recognition (OCR)
For multinational companies, automation allows a business to standardize each process, such as invoicing, cash applications, disputes, and collections. Since many countries possess varying business practices and currencies, technology can serve as a means to better streamline the global business to business (B2B) partnership. Automation is the driver of increased value, effectiveness, and efficiency, providing […]
Credit Managers Index – Be Apart of the Process…
Since its inception, the CMI has been a startlingly accurate economic predictor, proving its worth most notably during the recession. The CMI is created from a monthly survey of U.S. credit and collections professionals. The survey asks participants to rate whether factors in their monthly business […]
International Sales Contracts: Square Peg, Round Hole
By: David Conaway, Partner, Bankruptcy Practice Administrator, Shumaker, Loop & Kendrick, LLP The purpose of a sales contract is to define the parties’ obligations and to optimize outcome if a dispute arises. As such, a contract is a tool to manage risk and prevent loss. The good news is the vast majority of contracts are performed as […]
Did you Know?
Federal Trade Commission Consumer Protection Resources…… FCRA – Fair Credit Reporting Act Federal Government legislation enacted to promote the accuracy, fairness, and privacy of consumer information contained in the files of consumer reporting agencies. FACTA – Fair & Accurate Credit Transaction Act FACTA is an amendment to FCRA (Fair Credit Reporting Act ) that was added, primarily, […]
Costs and Settlement of True Mechanicʼs Lien Litigation
The risks and uncertainties associated with true mechanic’s lien litigation in addition to the legal costs typically make a settlement of 75% or 85% of a claim a “good settlement.” Essentially, you are litigating multiple cases simultaneously. In fact, most mechanic’s lien lawsuits have multiple counts. There’s a basic contract case in which you must […]
Getting the Straight Talk – Credit References
References are an important tool in determining creditworthiness and should be included on any credit application. It is important to note, however, that the references listed on a credit application are probably not the most important references with whom to speak. A debtor will likely list the people who will report positive information. You need […]
Tips & Tricks – Delayed Email Delivery
We all have “That One Thing” that we know would save time or make our job easier. Neal Otto, Jump-start Computer Training, one of our most requested presenters has some tips and tricks that will help you with That One Thing! Neal also has a new series of webinar trainings and is offering NACM Northwest […]
2016 Membership Appreciation Breakfast
Thank you everyone who attended the 2016 Member Appreciation Breakfast. We raised $620 for the NACM Northwest Foundation Scholarship Fund with the raffle and silent auction. Thank you again to all the members and individuals who donated items and money to make our first raffle a success! Check out the video below to see the […]