Fall is on the way
News, Information and Commentary
September 2018
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A few thoughts from
Jon Flora, President & CEO
Surcharging is here
And, we're the first to try it
Over the last two years, much has been presented about credit card surcharging. Clearly,
most of you are tired of paying the fees for taking credit cards.
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We have been fielding a lot of calls from members and customers about how to implement a surcharging program. Especially concerning are the calls that begin with
“I was looking on the Internet about surcharging and it seems easy.”
Danger, Will Robinson
.
Since it’s our mission to help educate the credit professional, we have decided to put surcharging into action here at NACM Business Credit Services.
We are the first NACM affiliate to do it.
The main reason we are embarking on the surcharging program is educational.
We want to answer your questions based on
real-time, real-life experience
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Some background: We have always accepted credit card payments but long ago put limits on purchase amounts because of the fees associated with the use of cards. The fees we were paying reached a point where our association simply couldn’t continue to bear this expense. Instead, we encouraged all of you to write a check which most have done.
In the last year, we have had an increasing number of requests for payment by credit card.
Apparently, you really like your reward points! The only way to make this work for NACM BCS is to pass on the now legal surcharge. At a rate of 2.5%, we will still be subsidizing the purchase (we could go as high as 4.0%) but at least we will be capturing a reasonable amount of the cost of providing this convenience to you. For most, this will likely be worth it. If not, you still have no-fee options including: pay by check, pay by ACH, or pay by debit card.
It has taken nearly three months for NACM BCS to put this program in place. It’s a lot of work and doing it wrong will cause you all sorts of grief. Our partners at
UTA and Vantiv/Worldpay have done a stellar job preparing us for the rollout. We are excited to see how surcharging really works so we can be a good resource to you if and when you choose to go with it.
Surcharging at NACM BCS
begins September 1st. Just go to our website and click on
Pay My Bill at the top of the screen. First time users will need to register. Just follow the instructions. After that, it will be an easy click and log-in.
I will use future editions of this eNews to report back to you on what we learn. In the meantime, if your company wants to consider surcharging, please feel welcome to contact us anytime. We are glad to share our experience.
Thanks for your business and membership in NACM BCS. Have a great Labor Day!
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The crew at NACM Business Credit Services wishes you a happy Labor Day weekend and festive end to your summer.
As a reminder, our office will be closed on Monday, September 3rd, re-opening the following day ready to serve you.
Thanks for your involvement in NACM Business Credit Services. Have a great weekend. Just don't burn the burgers!
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SPECIAL HAWAII NEWS UPDATE
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We have fielded a number of calls over the last week wondering how our members in Hawaii are doing after Hurricane/Tropical Storm Lane. The short answer is: pretty good. They dodged a bullet when the storm lost energy. While there was certainly an enormous amount of rain, our friends are just fine. And, paradise is definitely open for business!
Thanks for your interest and concern. Here are some snippets from island news sources.
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The
Hawaii Tourism Authority
announced Wednesday the islands are open and operating for tourists after Hurricane Lane dumped heavy rain on the popular destination last week. Click below for more.
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NACM Member, Young Brothers, resumes interisland service
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The state’s only interisland carrier, Young Brothers, resumed service on Sunday and added several special routes to Maui and the Big Island in response to the impact of Tropical Storm Lane.
Young Brothers' seven barges and tugs, which were riding out the storm at sea, returned to Honolulu on Sunday, where they were loaded with cargo for delivery to the Neighbor Islands.
Young Brothers is owned by Seattle-based Saltchuk Resources.
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Storm was boom or bust for businesses
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Hawaii didn’t take a direct physical hit from Hurricane Lane, which was downgraded to a tropical storm Friday, but it did dampen performance for some businesses.
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Hawaii report from our man on the beach
"On Oahu, we saw mostly cloudy skies and some high winds but no real damage to property. On the islands of Hawaii, Kauai, and Maui, they experienced some flash flooding. I would say that the State of Hawaii actually fared well. Especially when it prepared for the worst. Today, one week later, its business as usual for us in the hospitality industry.
Mahalo,
Andy Bolante
Area Director of Credit & Collections
STARWOOD HOTELS & RESORTS HAWAII
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Online Webinar - September 13
How to identify and prevent fraud
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The use of digital currencies to make electronic payments have opened the doors to new methods for individuals to commit fraud. As businesses navigate these new challenges, many of the same fraud risks still exist in the order to cash process making it difficult to comprehensively manage receivables in an efficient, effective manner.
Join our seasoned internal audit professionals who will talk about experiences with fraud, prevention techniques and other ways you can safeguard your company’s credit operations to prevent fraud and ultimately protect its receivables during this informative webinar.
Presented by:
Findley Gillespie & Brendan Ross
Moss Adams CPA
Date:
September 13
Time:
12:00p.m. -1:00 p.m. (PDT)
Cost:
Free to members
Registration is required. Click below for more information
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Save the date and register today
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The annual
Western Region Credit Conference lands in Salt Lake City this October. Interesting programs and presenters in a
City on the Move.
Click on the link below to learn more about what's happening in Utah.
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How to Modernize Decisioning with Automation and Real-Time Responses
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When a new customer wants to establish credit terms with you, the first thing they’re asked is to fill out your credit application. When you hand over a paper application, did you know you could be negatively impacting your revenue or setting a poor customer experience? Some companies don’t.
Our partners from Experian have some solutions for you. Read on for more...
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Business transactions take place every second of every day — orders, payments, account tracking and much more. Often, each participant has his or her own ledger — and, thus, a version of the truth that may differ from other participants.
These multiple ledgers can be a recipe for error, fraud and inefficiency. But because members on a blockchain share a common view of the truth, it’s now possible to see all details of a transaction end-to-end, reducing those vulnerabilities.
We turn to the pros at IBM for an introduction to Blockchain and what it might mean for your company.
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Business credit for the trucking industry
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Trucking companies face a multitude of challenges, from skilled labor shortages to cash flow problems to intense regulations. Small business trucking companies often struggle the most and are being pushed out of the industry by larger entities.
Dun & Bradstreet
offers a look at their approaches for helping the industry.
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Saving to become a millionaire in 15 years
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Young people are pretty confident about their financial futures. A recent survey from TD Ameritrade found that 53 percent of millennials expect to become millionaires at some point in their lives, if they aren't already.
Now matter your age, this story from CNBC offers suggestions on how to save for your future. Click below for more.
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"I constantly remind our employees to be afraid, to wake up every morning terrified. Our customers have made our business what it is and we consider them to be loyal to us – right up until the second that someone else offers them a better service."
Jeff Bezos
Amazon Founder
Shareholder Letter, 1999
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BUSINESS NEWS OF INTEREST
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Dun & Bradstreet announced that it has entered into a definitive merger agreement to be acquired by an investor group led by CC Capital, Cannae Holdings and funds affiliated with Thomas H. Lee Partners, L.P. , along with a group of other investors. Click below for more information.
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Out-of-state sellers will pay Washington sales tax in October
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On August 3, 2018, the Washington Department of Revenue announced that it will require certain remote sellers to begin collecting Washington retail sales tax by October 1, 2018. This requirement imposes new registration, collection, and remittance obligations on remote sellers who didn’t previously have retail sales tax reporting requirements. Regional CPAs Moss-Adams offer an overview to this new revenue gathering effort. Just click below:
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Alaska: PenAir trustee seeks sale of assets for bankrupt airline
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An attorney last week asked a judge to allow a sale of the assets of PenAir, an Alaska airline that filed for Chapter 11 bankruptcy protection about a year ago
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Washington: Seattle boom crosses Cascades
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Explosive growth in Seattle is reverberating across the mountains in towns like Wenatchee and Chelan, bringing some new jobs but also new concerns as tourists and homebuyers from the wealthier Puget Sound region bid up housing prices and reshape the area’s economy.
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Hawaii: 6th tower in Honolulu is approved
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The Howard Hughes Corp. received approval from the Hawaii Community Development Corp. for the 570-unit Koula at Ward Village. Construction on the 41-story tower
could start in late 2019, the company said.
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American Industries struggling to find workers
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Axios takes a look at industries having trouble finding workers. As Boomers retire, Millennials are apparently not interested in the filling the gap. Click below for more.
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Bankruptcy booms for seniors
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The rate of those 65 and older filing for bankruptcy is three times what it was in 1991, a new study finds, as more enter their later years in a precarious position. And researchers said it signaled that there were many more people in financial distress
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Good news from Pike Place Market
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At the
2016 Western Region Credit Conference in Seattle, we welcomed those fish-throwing, fishmongers to speak on team work and how they became famous around the world. Recently, it was announced that the company had been sold to four of its long time employees. They're the same guys who taught us how to toss a king salmon around a hotel ballroom! We congratulate them and encourage you to read on for more good news.
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EVENT & INDUSTRY GROUP CALENDARS
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Puget Sound Area
September 13
11:30 a.m. Floor -
Duke's Chowderhouse
September 18
11:30 a.m. HVAC -
Duke's Chowderhouse
September 19
11:30 a.m. Food -
Duke's Chowderhouse
11:30 a.m. Tacoma Construction -
Johnny's Dock
September 20
11:30 a.m. Eastside Construction -
13 Coins, Bellevue
11:30 a.m. Wiring -
Duke's Chowderhouse
Anchorage
September 19
12:00 p.m. Alaska Suppliers & Food -
Doriola's
Honolulu
September 18
Hawaii Hospitality -
Hilton Waikiki Beach Hotel
September 19
Hawaii Food -
Waikiki Yacht Club
September 21
Hawaii Building
- Waikiki Yacht Club
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Upcoming Professional Programs
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2018
Online Webinars - Save the Dates!
September 13 - How to Identify and Prevent Fraud
12:00-1:00 p.m. (PDT) FREE for Members - Registration Required
November 7 - Managing Stress in the Credit Department
12:00-1:00 p.m. (PDT) FREE for members- Registration Required
Seminars & Conferences
Events shown in
this color
include an event hyperlink
October 10-12
-
NACM Western Region Credit Conference
Salt Lake City, UT
October 22-24
- Credit Research Foundation - October Forum
Salt Lake City, UT
New York, NY
2019
Tempe, AZ
May 19- 22, 2019 -
NACM National Credit Congress
Denver, CO
August 12-14, 2019 -
Credit Research Foundation
Forum & Expo
Seattle, WA
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Turn to the professionals for help with credit card surcharging
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Need help with credit card, check and payment processing, or surcharging?
Our partners at UTA and Vanitiv are ready to help you with special NACM rates and great service.
To learn more and to arrange a personal visit, contact your NACM Account Executive or call our toll-free number.
Best rates, best service, best partners,
1-800-423-5710
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Last chance to WIN! Try NACM Collections!
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The list of people taking advantage of this offer is growing!
If you used us for Collections in the past and decided to go a different direction, we want you back in our family.
If you've never used us, now is the time to try NACM BCS.
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Send us a trial batch of your Collection accounts and see how we do. If we knock it out of the park, then come on home! When you give us a try, you will be entered into a drawing for an Alexa from Amazon.
If you've
never tried NACM BCS Collections, this is a great time to see if we might work for you. And join in the drawing, too!
But, wait there's more! If you're a current customer and refer someone to our Collections team, you can be included in the contest, too!
Our Collections effort now reaches all of North America, Europe and some of Asia. Don't be shy. We will consider any request.
Whether you're a returning customer, a first-timer, or referring someone, you'll be entered into a drawing for an Amazon Alexa.
As a member of NACM BCS, there is no cost to your company to try us.
The drawing will be held on October 1st, so give us a call today! For more information, call us at 800-423-5710 or email us at:
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Labor Day Sale
Order before September 7th and get the best price of the year.
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If you're doing business with our neighbors to the north, there really is only one credit report you need:
Equifax Canada. Equifax has the best data and NACM BCS can quickly set you up to get those reports.
If you order before September 7th, you'll pay just $24 per report and you can use the reports anytime in the next year. This is 27% savings over our regular NACM pricing.
Call us anytime for help with your Canadian reporting needs.
1-800-423-5710
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Looking for a job? Trying to fill an opening?
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Check out the new listings!
If you are needing to fill a position or are looking for a job, the
NACM Job Bank
is for you. It gets a lot of traffic and - best of all - it's a
FREE
service for our members!
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Serving credit professionals since 1899
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