By Scott W. Lee, JD, CCE, Vice President, NACM Business Credit Services To Surcharge or Not to Surcharge You have likely heard that merchants will be adding, or at least now can add, the fee charged for credit cards to the price of a sale. It is being referred to as a “surcharge.” There are [...]
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The Imperative Partnership Between Credit & Sales
By Bryan Simnitt, Director of Sales, Nicholas & Company The Partnership between sales and credit is imperative for success. Why the sales driven organization must encourage partnership between sales and credit to succeed. The selling team of yesteryear would have a hard time getting along, or even understanding the business world of today. Things have [...]
Credit/Sales Smack Down
By Georgette Bevan, CCE, NACM Business Credit Services Have you experienced ballistic moments dealing with sales people? If you have, you are not alone. At times, the friction between credit & sales produces a duel of epic proportion; well it seems like it at the time. Sales: Excited voice “I have a new customer that [...]
Odds It’s Fraud
By Georgette Bevan, CCE, NACM Business Credit Services Business credit fraud is an intentional plot to scam a business out of “value” without payment. This may be accomplished by providing a credit department with carefully crafted inaccurate information hoping that it goes unnoticed thus allowing the flimflam artist to get away with as much value [...]
Liens or Secured Transactions (UCC)
By Scott W. Lee, JD, CCE, V.P. NACM Business Credit Services I am often asked by creditors whether they can file a lien against their customer’s property because the customer is seriously delinquent. The creditor is usually looking for a simple “yes” or “no” answer. But, it really isn’t a simple question so I respond [...]
NACM Canons of Business Credit Ethics
By DeAnna Leahy, CCE, Sunroc Corporation In our industry credit group meetings, each of us follows along as the Anti-Trust Compliance and Anti-Defamation Statements are read and then we quickly move on to the names submitted for discussion by each of the group members. I sometimes wonder how often members take the time to read [...]
Personal Guarantees
A Simple Agreement to Improve Credit & Collections By Shane Inglesby, CCE, Geneva Rock Products, Inc. Credit and collections - it’s what we do for a living. Without collection opportunities, we would not be employed. As much as we bemoan the challenges we confront on a daily basis, we have to admit that this challenge is [...]
Credit & Collection Incentive Program
By Georgette Bevan, CCE, NACM Business Credit Services Times are tough – we all know it. A credit department incentive program may be just the thing to motivate and stimulate credit and collection performance and boost cash flow. A credit department incentive program should be constructed with several considerations in mind. What are your organization’s [...]
When is it Time to Let Go of a Team Member
By Susan Archibeque, CCE, Nicholas & Co. As managers we sometimes hold onto team members believing we can rehabilitate them. You tell yourself that they can do the job and you have invested a lot of time and energy in developing their knowledge and ability, but there comes a time that you need to let [...]
The Influential Credit Manager
By Georgette Bevan, CCE, Director of Education, NACM Business Credit Services If only ________________ (insert job title or name) understood that _______ (insert credit wisdom here).” Has that phrase ever slipped from your lips at work? Credit is a tough and challenging job! You probably wear multiple hats and have numerous irons in the fire. [...]