Issue link: http://read.dmtmag.com/i/330408
June 2014 | Construction Equipment Distribution | ZZZFHGPDJFRP| 63
Credit
techniques and perspectives can often
be the rising tide that lifts all boats.
Continuing education programs
and events like the ones offered by
the National Association of Credit
Management (NACM) can help keep
companies on the cutting edge of risk
management. NACM is the nation's
largest and oldest association of
commercial credit risk professionals,
with more than 50 percent of its
membership working in the construc-
tion arena. For more than a century,
NACM has provided companies with
a number of different tools that they
can use to both build up their staff's
expertise and become more efficient
at managing their financial exposure
while increasing sales.
The newest of these tools is
NACM's National Trade Credit Report
(NTCR), which combines the benefits
of a commercial credit report on a
customer with the insight shared
among suppliers at an industry credit
group meeting. The NTCR compiles the
payment experiences of other credit
and risk professionals into a single
document, along with public record
data, which companies can use to find
ways to make sales without taking on
an abundance of risk. It includes a host
of notable features that distinguish it
from other reports, most importantly
its inclusion of industry-sensitive days
beyond terms information, which
provides crucial context to a potential
customer's payment habits.
But the NTCR's ultimate benefit,
especially for construction credi-
tors, isn't in any particular figure or
section of the report; it's where the
information included on the report
comes from.
The NTCR draws from a deep well
of accurate, meaningful data from
thousands of companies and financial
professionals that are sensitive to credit
and risk management issues – these
are the people who comprise NACM's
membership and contribute the
payment data and professional insight
that makes the NTCR an especially
relevant tool for companies looking
to manage risks more effectively. And
again, since NACM's membership is
especially concentrated in the construc-
tion industry, the NTCR provides an
unparalleled risk-sensitive look at
potential buyers and can provide a
much-needed sense of security for
data-starved sellers operating in that
sector, including equipment dealers.
The benefits that the NTCR offers
creditors in the construction industry
are the same benefits that come
from an NACM membership. While
the corporate world has awoken to
the importance of the risk manage-
ment function, NACM has always
considered it a priority. As valuable as
NACM's educational programs and
products are, the real benefit is in
NACM's community of like-minded risk
management professionals who share
payment experiences and also effec-
tive techniques and strategies to every
member company's mutual benefit.
Enlisting an entire community of
experts who are all focused on helping
each other manage risk more effective-
ly can help any company reduce losses,
grow their profits and give their credit
and risk management professionals
the confidence they need to make
smart financial decisions that benefit
the entire company. When it comes
to training the people who manage
what's often a company's largest asset
(its accounts receivable), there is often
strength in numbers.
ADVERTISERS' INDEX
Altus Global Trade Solutions . . . . . . . . . . . . . . . . . . . . . . . . 33
Bell Trucks of America . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27
BidSpotter.com . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31
BOKF Equipment Finance Inc. . . . . . . . . . . . . . . . . . . . . . . . 52
Charter Software Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46
EPG Insurance, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
Infor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
LayMor Sweepers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21
LBX Company LLC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .IBC
Okada America, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43
PFW Systems Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
RFE Distribution . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56
Ritchie Bros. Auctioneers . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
SANY Heavy Industry Co., LTD . . . . . . . . . . . . . . . . . . . . . . IFC
Screen Machine Industries, Inc. . . . . . . . . . . . . . . . . . . . . . . 25
Sentry Insurance Company . . . . . . . . . . . . . . . . . . . . . . . . . . 6
Stewart-Amos Equipment Co. . . . . . . . . . . . . . . . . . . . . . . . 36
Sullivan-Palatek . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54
Unified Purchasing Group . . . . . . . . . . . . . . . . . . . . . . . . . . 39
Vacuworx Global, LLC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
Wells Fargo Equipment Finance . . . . . . . . . . . . . . . . . . . . . . 15
Woods Equipment Company. . . . . . . . . . . . . . . . . . . . . . . . 20
XAPT Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . OBC
As the official magazine of Associated Equipment Distributors, this publication carries authoritative notices and articles in regard to the activities of the association. In
all other respects, the association cannot be responsible for the contents thereof or the opinions of contributors. Copyright © 2013 by Associated Equipment Distribu-
tors. Construction Equipment Distribution (ISSN0010-6755) is published monthly as the official journal of Associated Equipment Distributors. Subscription rate — $39
per year for members; $79 per year for nonmembers. Office of publication: 600 W. 22nd St., Suite 220, Oak Brook, Ill. Phone: 630-574-0650. Periodicals postage at
Hinsdale, Ill. 60521 and other post offices. Additional entry, Pontiac, Ill. POSTMASTER: Send address changes to Construction Equipment Distribution, 600 W. 22nd
St., Suite 220, Oak Brook, Ill. 60523
JACOB BARRON,
CICP
is a staff writer and
government affairs liaison
for the National Associa-
tion of Credit Manage-
ment (NACM). He can be
reached at jakeb@nacm.org.
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