Welcome to Southwest Quarterly | Summer 2023 | |
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Hello and welcome to Southwest Quarterly! We are delighted to begin sharing our newsletter with you four times a year: Spring, Summer, Fall, and Winter. The NACM Southwest team is excited to introduce new features, spotlights, and tools to continue growing our community.
Be sure to follow NACM Southwest on Facebook, Instagram, LinkedIn, YouTube, and Twitter to stay up-to-date on upcoming events and updates.
Thank you so much for being a part of our credit community!
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The All South Credit Conference is Right Around the Corner...
Have you registered yet?!
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Embark on an extraordinary journey of knowledge, connection, and professional growth at the All South Credit Conference. This distinguished event, spanning from September 24th to 26th, promises three days of transformative experiences, captivating discussions, and valuable insights tailored for the dynamic world of credit management and commercial tactics.
3 Days
5 Educational Circuits
3 Keynote Speakers
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Full Group Name:
Regional Air Conditioning and Plumbing Supply Credit Group
This group connects...
in-person or virtually via Teams on a monthly basis
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If you’d like to learn more or attend an upcoming meeting as a guest, reach out to Keilah at keilah@nacmsw.com.
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Industry business credit groups provide a forum for the exchange of information about past and completed transactions. In this newsletter, we’re highlighting our Regional Air Conditioning and Plumbing Supply Credit Group!
This group meets monthly and offers its members the opportunity to meet in person or virtually via Teams. The members represent wholesalers providing supplies and services to the air conditioning and/or plumbing industry. This group includes an account discussion (credit book) and a discussion list. Group members can submit 2 names for the credit book and they wrap up with a round table discussion that can include best practices discussion.
Though the group met virtually over the past couple of years, in 2023 they started offering the in-person option to allow those who enjoyed having lunch and getting together. They also realized that it was important to provide an avenue for anyone who was a part of the group to attend so they kept the virtual component as well.
Whether far or near, you can join this group and be a part of the valuable networking that takes place!
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A Word from Our
Wellness Advisor: Moose
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Hey, pals! Moose here!
Remember, wellness isn't just for the humans. Take those paws for a walk, munch on those delicious treats, and don't forget to nap like a pro. Let's keep those tails wagging and those spirits high! Woof-tastic wellness for all of us!
#DoggyWellness #WorkLikeADog
Moose🐾
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Mandy has been serving the membership and staff at NACM Southwest for about 10 years now. She provides support to the entire team at NACM Southwest and has been responsible for accumulating information for the legal list for our members since the beginning.
Mandy loves working at NACM Southwest and enjoys the fun and laughter they share at the office. She shared with us that she especially loves laughing at Alan's (our Sales Manager’s) jokes. It’s true – we never know what he’s going to say and often cracks us all up!
One of the things she’s learned in the past month (and confesses it’s something she has to learn over and over again) is that you always need to go with the flow. Change happens. She also says it’s often easier said than done.
When she's not working, Mandy loves reading, binge-watching a new show, and playing pickleball with her husband and son.
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Mandy leaves us with this piece of wisdom:
“Speak up if something doesn't feel right. Always trust your gut!”
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Automation at its finest! | |
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Manual credit application processes can be time-consuming, error-prone, and can result in delayed decisions. That's why NACM Southwest is partnering with Experian to provide innovative solutions to streamline the process and improve your bottom line, starting with a dedicated, branded link that is tailored to your company’s credit application. Followed up by DecisionIQ, which allows you to elevate your decision and credit policies by combining your knowledge with Experian’s advanced statistical expertise.
These platforms leverage advanced technology to simplify and expedite the application process, reducing the time and resources required for credit evaluation. By automating not only the process but the application too, you'll be able to make faster and more informed credit decisions, boosting your company’s profitability.
These platforms are highly customizable, enabling you to tailor the application process and the decision tool to your specific business needs. Whether you need one application companywide or multiple applications across business units…or if you need a basic scorecard with exception rules…it’s all included! Your wish is Experian’s command!
You will partner with a specialist that will work on fine-tuning both the application and/or the scorecard to ensure you’re focusing your time and efforts on the accounts that need the most attention.
So why wait? Contact us today to schedule a demo and see how a new automated credit application and/or scorecard can help transform your credit management department.
CONTACT: Alan Moore, alan@nacmsw.com , 972-518-0019
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It is our sincere pleasure to announce that the following NACM Southwest members have successfully completed the requirements for the Certified Credit Executive, Credit Business Fellow, and Certified Business Associate designations awarded by the National Association of Credit Management. Their accomplishments attest to the knowledge, drive and dedication they have for the credit profession. | |
Congratulations to Michelle Kelly at Mansfield Energy Corp. for earning her CCE Certification! | |
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Congratulations to
Ashley Fletcher, Ferguson
Taylor Bustamante, Heidelberg Materials
Laura Castillo, Crawford Electric
Rosa Gutierrez, Standard Supply
Jared Minton, Allergan
Melissa Parsons, Forest Lumber Company
Courtney Resendez, Texas Pipe & Supply
Tiana Sanchez, Foxworth Galbraith
Brittney Dorn, Ferguson
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"Going through these classes enables you to use this knowledge in your day-to-day function in credit, in real-time, as you learn it. The confidence in sound decision-making just builds and builds as you go through each class."
Chason Dancer, CBA
DXP Enterprises
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Have you ever wished there could one place where you could learn more of the legal actions that are public record against your customers? Well wish no more!
NACM Southwest’s legal listing service identifies companies that were found to be involved in various legal actions or have filed for bankruptcy. The list covers six states in the Southwest territory (Texas, Louisiana, Oklahoma, Missouri, Arkansas, and Kansas) and multiple counties or parishes within those states.
The listing is updated weekly and a download link is sent out to all subscribers. Imagine having all of that information right at your fingertips!
The listing provides a table of contents that shares which areas within those states are covered and there are tabs to make finding the information you’re looking for as easy as possible.
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The listing provides a table of contents that shares which areas within those states are covered and there are tabs to make finding the information you’re looking for as easy as possible.
On each tab, the information is sorted by debtor, former owner or DBA along with an address. Then there is a description of the legal action and name of the party initiating said action (creditor or mortgagee). WARN notices are also provided for Texas, Louisiana, and Oklahoma.
Don’t want to look at the list every time? No worries! With our new member-side upgrade, you can now search for a company under the Legal Listing section of your groups to see if they are included anywhere! Doesn’t get much easier than that
Contact your member representative to receive a complimentary copy of a recent listing!
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You Are an Economic Fortune Teller
Jamilex Gotay, editorial associate, NACM
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Credit managers possess a unique ability to forecast the future based on their deep understanding of business and customer behavior. The NACM's Credit Manager's Index (CMI), initiated in 2003, is a crucial tool in this regard, offering several compelling reasons for monthly participation:
- Timely Economic Forecasting: The CMI provides real-time monthly data that can predict the state of the economy up to six months in advance. This was evident when it detected economic weaknesses four months before the COVID-19 pandemic. Credit professionals can use this information to make informed credit decisions and adjust strategies accordingly, staying ahead of economic shifts.
- Gain Credibility with Upper Management: The CMI's insights are valuable for publicly traded companies when presenting to investors and for privately held companies aiming to showcase their performance. Credit managers are well-positioned to provide an accurate view of the company and industry to upper management. Sharing CMI results in executive meetings fosters discussions and informs strategic decisions.
- Add Value to the Credit Profession: Increased participation in the CMI survey enhances the accuracy of economic forecasts. Credit managers' input contributes significantly to economic data used by economists and policymakers. By participating, credit professionals elevate the credibility and importance of their profession, and the CMI serves as a valuable reference for assessing customer payment likelihood.
In summary, credit managers' unique predictive skills make them crucial to the business world, and the CMI is a valuable tool for them to stay ahead of economic trends, gain credibility, and contribute to their profession's value.
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Participate in the CMI every month for the next 12 months and automatically be entered to win ONE of FOUR $250 gift cards in 2024. Sign up to receive monthly CMI survey participation alerts. For a complete breakdown of manufacturing and service sector data and graphics, view the June 2023 report. CMI archives also may be viewed on NACM’s website. | |
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NACM Southwest offers online, hybrid, and in-person events making it easier for members to access educational content. We always want to ensure your credit department remains up to date on the latest changes in processes, regulations, or laws that affect the commercial credit industry. On-Demand webinars are also available!
If you have any questions about NACM Southwest education, please contact Tony Clark at tony@nacmsw.com.
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| Have you ever attended one of our Education Sessions? | | | |
Online Tool: "Ask The Expert"
Have you ever had a pending question about credit reports, our services, or membership benefits?! Our online "Ask the Expert" tool was designed with our busy members in mind to get you the answers you need quickly and efficiently.
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"Fiddling Around Isn't Always Bad" | |
From NACMSW's very own, Dana Webster | Here is a little news about two of Dana Webster’s grandsons from Southlake, Texas: Some of you had the opportunity to hear them play their fiddles and guitar at All South last October in Grand Prairie, Texas. Both Thomas and Tristan began their violin/fiddle studies at the age of three with the Suzuki Method, studying classical-style music. At around age 6 they started learning Texas Style fiddling and competing in local fiddle competitions. They found fiddling was fun and challenging to learn the songs by memory and play while being judged by professionals to the content and sound of their performance. Thomas and Tristan found that long practice brings results, they normally place in the top five at national competitions as well as local competitions. The boys were interviewed by the Mayor of Southlake, Texas, and were invited to play a 45-minute performance at his private July 4h party in 2022. One of the competitions in 2022 was The Grand Masters in Nashville, Tennessee. Tristan had a great competition and was able to win first in his age 15 and under division. The recognition for winning first place is the opportunity to play one tune on the Grand Ole Opry stage. He will be playing Saturday of Labor Day weekend 2023. What an opportunity for a young musician. Guess where Grandpa and Grami will be on that day! | |
The moral of this story is, work hard, study hard, enlist world-class teachers, see your opportunity, and be thankful for what you have! | |
Thank you to our newsletter sponsors! | |
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