The New Year is Here:
Ready or not!
A note from Jon Flora, President & CEO
As 2017 begins, everyone is looking into their Crystal Balls to see what the next 12 months will bring. Columnists, economists and fortune tellers all have opinions on what we can expect. Some will be right, some will be wrong but one thing is for sure: this New Year will be different than what we have experienced in the past.
At NACM Business Credit Services, we have a few suggestions for 2017. We base our thoughts on history, experience and, yes, hope! Our top three recommendations to start the New Year off right:
- Pull your credit reports. When the Great Recession began in 2009-10, we noted a common denominator. Business had been good so companies quit making decisions based on the solid data contained within Experian, Dun & Bradstreet and other reports. Many got into trouble and they realized it too late. We can never say this enough: Use your reports.
- Watch your Accounts Receivable. Being ever vigilant about who owes you money and how much they owe will help keep you out of trouble. When you see a problem, let NACM Business Credit Services help you through our growing Collections Service.
- Participate in Industry Groups and contribute your data. Participating in NACM Industry Groups is a great tool to help you stay on top of what’s happening. Compare notes with colleagues to ensure that your company is in a solid position to be paid on a regular basis. It’s a proven model and all is takes is a little of your time and participation.
We are actually quite optimistic about 2017 but believe in the words of Ben Franklin: “An ounce of prevention is worth a pound of cure.” Use the tools at hand to be prepared for whatever may be coming your way. And, if you don’t think you have the right tools, call us. We’re here to help.
Let’s have a terrific New Year. And, thanks for being part of NACM Business Credit Services.