An important part of involvement with NACM is Data Contribution. By working through the association, you provide your accounts receivable information along with hundreds of other companies. The result of this collaborative effort is credit reports that help you and your counterparts minimize credit risks in the course of your daily business.
Data contribution is the reporting of your company’s full accounts receivable information, which is reflected on business credit reports of your customers in the form of tradelines. Data contribution is the foundation for building credit reports.
By contributing your full accounts receivable information, you have the ability to positively affect your good paying customers by showing their payment history while also reporting your delinquent accounts. In today’s world, businesses are keenly aware of the importance of a good credit rating in order to receive loans and credit from financial institutions and suppliers. Contributing your data also gives you an added debt collection tool. In many cases, customers may choose to pay you over another non-reporting vendor because they want their good payment history reported.