NACM Industry Credit Group Meetings
Connect with credit professionals who sell to the same customers you do. NACM Industry Credit Group Meetings provide a structured, confidential environment for sharing payment experiences, discussing industry trends, and gaining information that can help you make better credit decisions.
The Power of Shared Credit Experience
What Is an Industry Credit Group?
An NACM Industry Credit Group brings credit managers and other qualified credit professionals together to exchange commercial credit information within a specific industry or marketplace.
Members often sell to many of the same businesses. That creates an opportunity to learn from the collective payment experience of other credit professionals who understand the customers, challenges and economic conditions affecting your industry.
Meetings typically include discussion of selected accounts, payment trends, industry developments, credit management practices and other topics important to today’s credit professional.
Information You Can’t Get From a Credit Score Alone
A commercial credit report provides valuable information about a business. An Industry Credit Group adds something different: the experience and perspective of credit professionals actively working in your marketplace.
Current Payment Experience
Discuss how shared customers are paying participating creditors and identify changing payment patterns that may deserve additional attention.
Better Credit Decisions
Add industry knowledge and peer experience to the information you already use when establishing limits, reviewing accounts and managing risk.
Professional Networking
Build lasting professional relationships with other credit managers who understand the challenges of managing receivables in your industry.
Industry Knowledge
Exchange ideas about credit policies, collection practices, economic conditions and developments affecting your customers.
Professional Development
Learn from experienced credit professionals and occasional guest speakers while expanding your own credit management knowledge.
Early Awareness
Conversations among members can provide valuable perspective when payment behavior or market conditions begin changing.
A Structured Meeting for Credit Professionals
Accounts Are Selected
Account names are selected in advance so participating members can prepare relevant information for discussion.
Credit Information Is Prepared
Selected businesses may be compiled into a meeting book containing individual commercial credit reports and related information.
Members Exchange Experience
Participants discuss payment experience, relevant account developments and other appropriate commercial credit information.
NACM Facilitates the Meeting
An NACM representative facilitates the discussion and helps ensure meetings remain structured, professional and compliant with applicable requirements.
Confidentiality Is Fundamental to the Credit Group Process
Industry Credit Groups depend on the responsible exchange of commercial credit information. Information discussed during meetings is confidential and participation is governed by group bylaws, NACM requirements and applicable laws and regulations.
Credit Group Meetings are designed for legitimate commercial credit purposes. They are not sales or prospecting events.
Built for Commercial Credit Professionals
Industry Credit Groups are particularly valuable for companies extending business-to-business credit and managing significant accounts receivable exposure.
- Credit Managers
- Credit Analysts
- Accounts Receivable Managers
- Corporate Credit Executives
- CFOs and Financial Managers with credit responsibility
- Qualified lenders and other approved participants
Participation Requirements
Requirements vary by group, but participation generally includes:
- NACM membership
- Electronic trade data contribution
- Compliance with the group’s bylaws
- Regular attendance and participation
- Strict confidentiality
Some groups may have additional requirements based on industry, geography, annual sales or other membership criteria.
Find a Group That Matches Your Marketplace
The best credit group isn’t necessarily determined by what your company manufactures or distributes. The more important question is often: Who are your customers?
Local & Regional Groups
Local and regional groups are especially useful when participating companies sell to many of the same customers within a geographic market.
National Groups
National groups bring together credit professionals whose customers and competitors extend across multiple states or throughout the country.
Not Sure Which Credit Group Is Right for Your Company?
That’s where NACM can help.
Sometimes your industry and location immediately identify the best group. In other situations, we can look more closely at the types of customers you sell to and the trade information appearing on NACM National Trade Credit Reports.
This can help identify where your company’s customer base overlaps with other NACM members and which group is likely to provide the greatest value.
Your NACM Representative Can Help With:
- Identifying appropriate industry groups
- Reviewing geographic options
- Explaining participation requirements
- Providing sample credit information
- Explaining meeting formats and schedules
- Arranging a guest meeting when permitted
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The Value of Better Information
One Better Credit Decision Can Pay for Years of Participation
The value of an Industry Credit Group isn’t measured simply by the number of meetings you attend. It is measured by the quality of the decisions those meetings help you make.
Avoiding one significant credit loss, identifying a deteriorating account earlier, or improving how your company manages marginal customers can provide a return far greater than the cost of participation.
Industry Credit Group FAQs
Do I have to be an NACM member?
Yes. NACM membership is generally required to participate in Industry Credit Group Meetings. Additional group-specific requirements may also apply.
Do I have to contribute trade data?
Electronic trade data contribution is generally a requirement for Industry Credit Group participation. Your NACM representative can explain the contribution process and requirements.
Can I attend a meeting before joining?
Depending on the group’s bylaws and participation requirements, qualified companies may be invited to attend a meeting as a guest.
Are meetings only held locally?
No. NACM Industry Credit Groups may be local, regional or national. The appropriate group depends on your industry, customers, geographic market and the availability of groups serving similar creditors.
How often do groups meet?
Meeting schedules vary by group. Many groups meet on a regular schedule throughout the year, with meetings conducted in person, virtually or using a combination of formats.
How much does it cost?
Costs vary depending on the group, location, meeting format and related expenses. Contact NACM South Atlantic for current participation information and pricing for the group that best matches your company.
Find Your NACM Industry Credit Group
Tell us about your company, your industry and the customers you serve. We’ll help determine which NACM Industry Credit Group may provide the best fit.
