Category Archives: Uncategorized

The Greater Impact of Your “Ask”

Posted by on July 6, 2015 at 3:20 pm.

By Nadia Bilchik, CNN

You’ve probably heard it said that you won’t get what you truly desire if you’re not prepared to ask for it. But for many of us, knowing how to ask for what we want in a way that makes a positive impression – and ultimately gets us the response we’re hoping for – can be challenging.

My friend and founder of Global EXEC Women, Virginia Bradley, cheekily poses the question, “How big is your ask?” Her point is that you can’t be afraid to ask for what you want and feel you deserve, no matter how big or far-fetched it may seem. Don’t shortchange yourself by asking for something that’s too small. Reach for the real prize.

That said, it’s important to understand how to present your “ask” in a manner that’s likely to encourage others to feel inclined to say “yes.” Here are a few tips: . . . read full article

Credit Card AP Programs and B2B Credit

Posted by on May 1, 2014 at 3:01 pm.

By Rudet Fountain, VP, United Tranzactions

Do you like your credit card rewards program?  For the majority of us, the primary reason we use our credit card as a form of payment is the rewards program.  It is not because we cannot pay the bill with a check, or from our bank portal, or from the merchants webpage…we simply want the rewards.  Of course, in the business to business (B2B) process, customers’ logic is no different. 

When we consider the various payment technologies in the market place today – cash, checks, ACH, wire transfers, EDI, credit cards – we must come to the realization that credit cards are the only payment technology that your customers can be incentivized for using.  Today, in the retail market, credit cards use typically exceeds 90% of a merchants total revenue.  However, in the B2B marketplace, they only represent about 3-5% of all receivables.  Due to the extremely high levels of use in the retail market, we must realize that the “green grass” for the card networks is in our backyards.  VISA, Master Card, Discover, and AMEX are all seeking greater market share, and there is very little way for them to successfully hit their sales goals without penetrating the B2B markets.  Let’s not forget that they are now public companies that need to show a nice return for stockholders. Therefore, the card networks are aggressively pursuing your customers with new incentives for the B2B merchants.  B2B rewards are most often ‘kickbacks’ of some percentage of dollars paid with purchasing, corporate, commercial, or business cards.  Federal Reserve data shows that card usage is up growing almost 14% each year and our statistics supports these numbers.  

Perhaps you have received many more inquiries from customers — or perhaps the bank that issued them their credit card – wanting to pay with a credit card number.  Both VISA and MasterCard have released new Accounts Payable programs that generate a great deal of efficiency for AP departments.  Perhaps more importantly, because of the “rewards,” these programs permit the monthly AP process to become a revenue stream for your customer.  Thus, the battle continues to rage between your customer’s AP department and your AR department.  And we all know, AP represents the customer and the customer is “always right”.  Therefore, merchants are often forced to accept cards when they certainly would prefer not to because of the price.  

A little good news: the interchange rates associated with these AP programs can be quite favorable when compared to traditional B2B rates.  Additionally, when payments are generated out of the Credit Card AP programs, merchants will receive the remittance information and the transactions are very secure.  Lastly, no special data input is necessary. (We will speak further about this in future articles)  

As the card networks seek more transactional volume in the B2B market, it is more important than ever that we learn more about the dynamics of processing.  The card networks do not help you reduce your price by implementing best practices or giving you “do overs” when you overpay on processing.  It is incumbent upon us to learn, implement, and put into practice the best possible solutions.   

If the card networks are successful and hit their sales goals, imagine what your costs will be if they double their volume.  Amazingly, they hope to hit 10-times the volume in the next decade.  Are you ready? They are.

NACM Launches new customer driven website.

Posted by on March 30, 2010 at 3:54 am.

By now you have no doubt noticed the major face lift, but you should also know that there are numerous improvements that make it easier to use for our clients. Besides being easier on the eyes, it is much easier to keep up with industry trends and goings on with our new automated newsletter subscription system and blog.  Event registration is now online for all events to make life easier and greener without the wasted fax paper. New credit card processing options will be forthcoming in the next few weeks so keep an eye out.

Thank you to Red Olive Design, Inc. for the great web design.