Submitting your company’s full A/R has been talked about quite a bit this summer. There is a reason for that…it’s important. I wanted to take a minute to point out the value and personally ask for your support in this request. You know, the more companies that contribute, the more people that will benefit. If you contribute, your company will have an advantage. Besides, with today’s web-based technology, it’s very simple, fast, and secure to do. Let’s all support Credit Management Association and contribute our full A/R’s so we can all make better business decisions.
Below are a few bullet points as to the value of submitting your full A/R:
- Reference Information – Trade experience will be available to you right away. No need to wait for faxes any longer.
- Supports NACM and CMA – This contribution will support the National Trade Credit Report (NTCR) as well as members at Credit Management Association.
- Easy to Contribute – Most of us already submit to our Industry Trade Groups. You can use the same format such as Excel to contribute your full A/R and send it right off to CMA.
- Informed Decisions – You will be able to approve credit applications in a timely manner with current up-to-date information. This will also help you with updating accounts, when those big orders come in at the 11 hour. This happens to all of us.
- Supports Well Established Customers – Members will be able to support their good paying customers and everyone will know who is consistently paying on time.
- No Need to Respond to RFI or Group Lists – This will save time and money as contributors’ information will automatically be added to the Anscers database. This is a nice feature. Additionally, this will also strengthen your Industry Credit Group.
- Reports Delinquent Customers – Members will know who isn’t paying regularly month in and month out.
- CMA President Mike Mitchell has offered an incentive – Beginning October 1, members who support the NTCR program with their monthly accounts receivable contributions will get 25 free NTCR reports annually and receive a discounted price of $9.95 per report over and above those 25 free reports. To get complete details please go here.
And, as always, Credit Management Association is here for YOU! Make sure you talk to your leaders to see if you can take advantage of this benefit. You can’t go wrong. Thank you for taking a few minutes out of your busy schedule to read this blog.
Please remember we need you to support “your” credit association when you can and as always “thank you” for your support. I encourage you to send in any ideas to improve your credit association. Let me know your thoughts. I’d love to hear your feedback.
Michael W. Fenner, CBA, is the Credit Management Association Chairman and Regional Credit Manager for Beacon Roofing Supply. He can be reached at 714-321-8187, or firstname.lastname@example.org.