Business Credit articles from June 2003

Business Credit archives from June 2003

Identity theft and other fraud techniques. (The Scoop).(Brief Article)
June 1, 2003... Identity theft is becoming increasingly recognized as a crime, or at least as a practice used by criminals. It is never a stand-alone crime or act--it is always used to facilitate some false or criminal deed. It is not limited to that of...

Reduce deductions & control your chargebacks. (The Scoop).
June 1, 2003... All chargebacks are not created equal! What is the difference between chargebacks--which are the "cost of doing business"--and those which are the "cost of doing business poorly"? Learn about the financial impact of chargebacks, and the...

Latin American trade after Argentina. (The Scoop).
June 1, 2003... The crisis that hit Argentina in 2001 and deepened in 2002 pulled down trade across Latin America in 2002 and 2003. U.S. exports to South American countries fell by 20 percent in 2002, and continue on a downward trend. Economic growth has...

Back to school. (The Scoop).
June 1, 2003... The thought of completing your degree, getting an advanced degree or earning a professional certification all sound like worthy goals. Attaining these goals would bring a sense of pride, greater respect from peers, and so much more. Why then...

NACM Calendar.
June 1, 2003... JUNE June 1-4, 2003 107th Annual Credit Congress & Exposition Walt Disney World Swan & Dolphin Hotel, Orlando, FL For more information, please call the NACM Meetings Dept. June 15-17, 2003 FCIB 112th International...

What's in a name? (Credit Column).(National Association of Credit Management)(Column)
June 1, 2003... Not too long ago, 1 was thinking about the name, National Association of Credit Management, and I was awestruck at the power and presence that is carried by its name. That led me to think about what William Shakespeare wrote in Romeo and...

Yes, new value can be repaid and applied to all prior preferences: the continuing saga of the new value defense to a preference claim. (Credit Column).(Column)
June 1, 2003... Introduction In anticipation of the preference debate at the upcoming NACM Credit Congress, it is time to once again return to the PREFERENCE ZONE. Credit grantors cringe when they wander into the PREFERENCE ZONE, where they risk the...

Are you networking or not-working? (Credit Column).(Column)
June 1, 2003... When done properly, networking is one of the most effective ways to build your business. Unfortunately, most people who claim to be networking are really not working and not building the pipeline for future business. They use events as a time...

Ideas on how to avoid staff burnout in the credit department. (Selected Topic).
June 1, 2003... The credit department is under fire. Economic concerns, accounting anxieties, and profit worries are damaging more than DSO--they're affecting attitudes and creating uncertainty for each member in your department. After all, the credit...

Down economy spurs automation in collections. (Feature Article).
June 1, 2003... It's a tough time to be a credit manager. On the one hand, customers are trying to improve their cash flow by conveniently forgetting to pay their bills, by dreaming up evermore arcane deductions, and by declaring bankruptcy. All of that adds...

When bad things happen to good customers. (Selected Topic).
June 1, 2003... Introduction There are countless articles and other sources of information about the early warning signs of a customer's financial distress. But often, credit managers find themselves in the difficult position of finding out, too late and...

Management turnarounds: causes of decline. (Selected Topic).
June 1, 2003... Introduction Businesses decline over a period of time, usually several years. Rapid decline only occurs when the external elements change rapidly, such as in cases of economic recession, rapid technological changes, political/legal...

Weathering the perfect storm. (Selected Topic).(technology companies in the economic downturn)
June 1, 2003... In today's current economic downturn, or the perfect storm, as I like to call it, companies are facing some of the toughest decisions they've had to make in decades. Not since Holland in the 1630s or in the 1835 British Rail fiasco has such...

For a powerful presentation, add visual impact. (Credit Column).(Column)
June 1, 2003... Whether you're presenting your operations budget to the board of directors or doing a sales presentation to a key client, visuals are essential for a successful meeting. We live in a visual age, and, regardless of your position or industry,...

Seven questions to ask if no financial statements are received from your customer. (Communique).
June 1, 2003... Financial statements are, many times, not received from a customer. If this is the case and your customer is paying slow, the following questions might shed some light on whether your customer's slow payment trends are a temporary situation or...

"Selling" credit services to the sales team (Part I). (Selected Topic).
June 1, 2003... In order for your organization to maximize its revenue and cash performance, building and maintaining a solid and positive relationship between your credit services and sales teams is key. Until you get both "sides" to realize this fact, your...

Operational vs. strategic thinking in the credit function. (Selected Topic).
June 1, 2003... Operational or tactical level thinking and planning deals with how to make your systems, people and processes more efficient and effective. Strategic thinking and planning in the credit operation needs to address how the credit organization...

Build a solutions force: not a sales force. (Selected Topic).
June 1, 2003... Do you dream at night of your Sales Force closing all the deals in your pipeline only to wake up and realize that you still don't have the Ferrari in your driveway and that very few of the leads you get ever turn into cash? Your company's...

An eye toward talent. (Feature Article).(recruiting new talent)
June 1, 2003... A capable staff is essential for credit management professionals to assist their organizations in maintaining sound customer relationships with the effective and ethical exchange of business credit information. While today's larger pool of...

And the winner is.
June 1, 2003... Debie Wangsgard, CCE, from BMC West Corporation in West Jordan, Utah! Debie is the winner of NACM's drawing for the ticket to Disney Institute's "Innovations in Action" Tour at the upcoming Credit Congress....A prize valued at $125! Debie was...

Is a credit memo to your bankrupt customer a preference? (Credit Column).(Column)
June 1, 2003... Managing deductions and charge-backs can be time consuming for a credit professional. Credit memos can also be involved, especially in an active trade relationship with a distributor. But how are credit memos treated when your customer files...

Concern, vigilance and relationships. (2003 Best Article Award).(Rain Bird International)
June 1, 2003... Seneca said: "life is neither a good nor an evil, but simply the scene of good and evil." What I learned from my experience as a credit professional is that credit is also "neither a good nor an evil, but simply the scene of good and evil."...

The 2003 Honors and Awards program.(National Association of Credit Management)
June 1, 2003... Harness The POWER Unlock Your POTENTIAL Strengthen Your PERFORMANCE Words these credit professionals have taken to heart. NACM, on behalf of the National Honors and Awards Committee, is proud to acknowledge the following individuals for...

Global mergers and acquisitions sputter. (International Section).
June 1, 2003... Mergers and acquisitions in the United States and Europe continued their downward spiral in the first quarter of this year, although once again Europe showed greater resilience and higher levels of M&A activity than the U.S. For the first...

Hot spots: Australia. (International Section).
June 1, 2003... The Australian economy is in its 1 12th consecutive year of expansion, having been able to avoid contagion from the Asian financial crisis, the assorted currency and debt debacles in Latin America that followed, the worldwide technology bust,...

Worldwide credit conditions.(Illustration)
June 1, 2003... At A Glance WORLDWIDE CREDIT CONDITIONS Fay Hensen ECONOMIC GROWTH GDP % change from previous quarter Q2 02 Q3 02 Q4 02 Q1 03 U.S. 0.3 1.0 0.4 0.3 Canada 1.2 0.8 0.4 -...

Labor pool faces drought conditions: coping with the prospect of worker shortages. (Selected Topic).
June 1, 2003... In six short years, the nation's boomers--that generation born between 1946 and 1964--will begin to reach early retirement age and trigger a mass exodus from the workforce, challenging the traditional recruiting and retention strategies of...

Connecticut law of mechanic's liens. (Credit Column).
June 1, 2003... As one might expect, Connecticut, as one of the New England states, has a rather arcane and archaic set of laws governing mechanic's liens. Until recently, Connecticut statutory and case law has generally favored the rights of property owners...