After a multi-year dormancy, the American Trucking Associations has revamped and restructured the National Accounting and Finance Council, which will debut a new dues-based membership structure.
In advance of this re-launch, NAFC recently held its first annual conference since 2013 in Raleigh NC, where it stood up six new study groups focused in the areas of taxation; IT; financial relations; accounting and collections; associates; and risk management. It also absorbed what was previously the Information Technology & Logistics Council to reflect the rapid convergence happening between the fields of business management and technology.
The return of NAFC as a dues-based, member-driven council within the ATA federation was largely in response to renewed interest from trucking executives and professionals in the fields of finance and accounting, as the economy rebounds from the financial crisis, and as new technologies and government policies reshape the financial sector. NAFC’s six study groups are now meeting and forming agendas to prepare best practices to help the trucking industry navigate emerging and future trends in finance and accounting.
“This fast-paced and ever-changing world requires fleets to be forward looking in all aspects of their operations,” said Chris Spear, president and chief executive officer of ATA. “In recent years, we’ve seen significant changes in the environment of finance--with the emergence of blockchain and a reformed federal tax code. NAFC is positioned to prepare our members and industry for these changes, both now and well into the future.”
Russ Burleson, NAFC chairman and chief financial officer of Southeastern Freight Lines, said: “The exceptional turnout we saw at the meeting in Raleigh is a barometer of how important these issues are to carriers across the country. With so many new challenges facing those of us in the financial side of the industry, it’s just good to know that others are facing them too. We can learn a lot from each other.”
Among NAFC’s updated suite of services is a newly launched educational webinar series, with topics including revenue recognition, changes to the tax code and blockchain. NAFC, previously one of ATA’s largest councils, began accepting individual membership applications on July 1. This marks the first time the council has collected dues since 2009.