Your Trusted Partner In Handling Problem Receivables

A recent survey of 13 NACM
affiliates across the U.S. revealed that they collected over $25
million in outstanding overdue bills for their members in 2005. Members
of NACM’s Asset Management Service Committee conducted the survey. Dean
Wangsgard, CCE, chairman of the committee and President of the NACM
Affiliate Business Credit Services in Salt Lake City, UT, noted that
the 13 NACM-Affiliated organizations had a total membership of 7,863.
Of that number, 2,208 took advantage of the collections services
offered by their respective NACM Affiliate organizations. Collections
is just one of several services offered to NACM members by their
Affiliates.

 

There was about $89
million in total claims submitted for collection to the 13 NACM
Affiliates. The $25 million collected on that amount resulted in a
recovery rate of 28.3 percent on the 30,848 claims submitted to the
NACM Affiliates’ collections departments. Wangsgard noted that there
were 914 claims that were either provided free or for a fee to members.
These collections, called Free Demands (because they are collected
within a 10-day period), yielded the members $1,638,147 in 2005.

 

"I
have been using our NACM Affiliate’s collection services for over 18
years and am still very pleased with their consistent effort and strong
results," said Gary DiFrank, Credit Manager of Babcock Lumber Co. "I
can always count on quick contact with our customer, regular status
reports and a good turnaround of our accounts receivable dollars. They
treat each claim with the same strong work ethic regardless of the
amount or location. I would recommend their collection service to any
credit manager looking for a trusted partner to handle their problem
receivables."

 

An effective
collections program doesn’t just happen automatically. It must be
strategically planned by management and executed by qualified,
well-trained and experienced professionals; such as the 48 collections
employees of the 13 Affiliates involved in the survey. The
effectiveness of their collections efforts is not only reflected in the
dollar amounts collected, but by the high level of satisfaction of the
members who utilize their services.

 

"Jones-Blair
Paint has utilized the Commercial Collection Department of our NACM
Affiliate for collection of past due accounts for over 10 years," said
Mike Ewing, the Company’s Corporate Credit Manager. "The collection
department is highly trained and always willing to go the ‘extra mile’
to collect from our delinquent accounts. Their excellent services
include prompt attention given to each account placed, and responsive
communication between the collector and Jones-Blair Paint, which also
includes prompt payment reports on the status of each account."

 

"My
NACM Affiliate provides fantastic results on our placements," said
Barbara Davis, CCE, Credit Manager for Liberty Northwest. "The staff is
professional, dedicated and great to work with. This is an excellent
collection service!"

 

Toni Drake,
CCE, TRM Financial Services, Inc., said of collections services
provided her NACM Affiliate: "Considering the quality and the age of my
placements, they have done wonders with their collection work… I know
that I can utilize almost any collection agency for my needs—but I
think that NACM’s service and professionalism truly sets them apart
from the others."

 

"I can’t say
enough good things about our NACM Affiliate’s collection group," said
Judy Snider, Credit Manager for Tektronix, Inc. "We’ve had wonderful
responses from them on all the items we’ve turned over. Their prices
are reasonable, their results are terrific, and the guidance we’ve
gotten from them on items requiring legal assistance has been
invaluable."

 

Stan Murphy, CCE,
Credit Manager, Bay City Television, Inc., wholeheartedly recommends
NACM’s Affiliate collections services, as well. "As a credit manager
with over 30 years experience in various industries, I can
unequivocally say that my NACM Affiliate will do a good job for your
company when it comes to collecting from that difficult customer,"
Murphy said. "I have personally dealt with my NACM Affiliate since
1979, and the services provided by their management team have been
first rate."

 

NACM’s collections
services work seamlessly with any organization, as if the NACM
collections personnel were part of that firm’s staff. "Thompson Steel
Company started using NACM collections services about two to three
years ago," said the company’s Accounting Analyst, Renee Hibbert, CBA.
"At that time, we were between collections companies. We wanted to use
one company exclusively and build a rapport with them, to the extent
that we would consider them an extension of our internal credit
department. We needed a reputable company that could offer us
effective, professional collections services that would result in the
retrieval of money owed to us. NACM has helped us to collect thousands
of dollars owed to us by debtors. We are pleased with their services
and applaud their success."

 

Those
statements represent a small sampling of customer responses regarding
the quality of collection services delivered by many NACM Affiliates
throughout the country. In most cases, this service is offered to both
members and non-members of the Affiliates—but members get reduced fees,
among the many other benefits of NACM membership.

Find out more about CMA’s Commercial Collection Service by clicking here.

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