Business Credit articles from September 2003

Business Credit archives from September 2003

Should you DIP-ship?(the scoop)(Brief Article)
September 1, 2003... Credit managers are called upon more and more frequently these days to decide whether or not to extend credit to a debtor in possession, a company that has filed for protection under Chapter 11 of the U.S. Bankruptcy Code. Failing to adequately...

Check fraud costs industry between $12 billion and $15 billion annually.(the scoop)(Brief Article)
September 1, 2003... "In recent years, open-terms credit fraud has become a tremendous threat to a widening circle of businesses and industries. In fact, it is not uncommon for companies in some industries to experience fraud loss rates equal to 25 percent or more...

Too much work?(the scoop)(Brief Article)
September 1, 2003... When asked what the biggest issue facing most financial executives is today, most will answer "doing more with less". But when is doing more doing too much? Sometimes the best answer may be to hire someone else to help handle the workload,...

Report identifies worldwide trends in critical job skills and certifications.(the scoop)(Brief Article)
September 1, 2003... A new study from Brainbench has mapped out the global distribution of skilled knowledge workers. The Global Skills IQ 2003 Report provides not only a country-by-country ranking in nine key categories, including finance, healthcare, and...

NACM calendar.(Calendar)
September 1, 2003... SEPTEMBER September 8, 2003 Teleconference: Advanced Letters of Credit Presenter: Buddy Baker, ABN AMRO Bank For more information, please contact the NACM Meetings Dept. September 8, 2003 Online Accounting Course...

... On leadership.(Credit Column)
September 1, 2003... Leadership has many faces: Leadership is knowledge, it is the ability to stimulate interest, and it is to deliver quality results. Leadership is to he a part of the action--while at the same time being in charge of it. It includes the...

Bankruptcy cases continue to break Federal court caseload records: total bankruptcy filings and non-business filings hit highs.(News release: Administrative Office of the U.S. Courts)
September 1, 2003... The total number of bankruptcies and the total number of non-business bankruptcy cases filed in Federal courts in the 12-month period ending June 30, 2003, once again broke records. Bankruptcy filings totaled 1,650,279, the largest number of...

Subcontractors storing project materials handle unique payment concerns.(Communique)
September 1, 2003... Construction subcontractors that purchase and store materials in advance for their portion of a protect face a special set of payment concerns. In practice, many subcontractors focus on assuring payment for work that they have properly...

Reviving a failing business.(Selected Topic)
September 1, 2003... A turnaround situation is a state of crisis that requires action. A business in his state is plagued with problems. Unpaid creditors refuse to make shipments. Banks call in loans. Receivables are extremely delinquent. The company is unable to...

Treasury and IT integration in plain English: Part 1: background and vocabulary.(feature article)
September 1, 2003... Introduction This is a true story about a consulting project that took place in the early 1990s. The client was a federal government agency that employed 18 clerks to key-enter banking related data into its general ledger system. The...

Reducing the risk of the errant e-mail with new technology: disappearing e-mail.(Credit Column)
September 1, 2003... E-mail is revolutionizing how credit professionals communicate. As the credit department goes electronic, credit professionals depend even more on e-mail to communicate with customers and credit colleagues. Credit professionals are also using...

Credit basics.
September 1, 2003... CREDIT APPLICATIONS Important Features of a Credit Application A credit application can be used as a contract for marketing purposes and as a binding agreement; therefore it is important to determine the purpose of the credit...

The vital role of credit and finance in marketing: recognized or not, the areas of credit and finance influence an organization's relationships with its customers. The outcome might be good. It might be bad. But be assured that finance and credit impact a firm's marketing effort.(Selected Topic)
September 1, 2003... It rarely, if ever, fails to happen... whether teaching an MBA or undergraduate business class, giving a speech or presentation to a business, or in a consulting situation. Perhaps you've seen it too. Business people seem to separate...

Trade creditors beware: providing post-petition goods and services to a Chapter 11 debtor under a pre-petition contract without protection can be toxic to collectibility.(Credit Column)
September 1, 2003... Introduction Well, the Kmart case has generated court decisions on lots of interesting issues: critical vendor, landlord rights--you name it! And now in the spirit of the focus on software issues this month, the bankruptcy court in Kmart...

The unfriendly skies for aircraft financiers in the United Airlines bankruptcy.(Selected Topic)
September 1, 2003... One of the facts of life in the U.S. equipment financing industry is that many companies either default on their equipment financing arrangements or file for relief under the U.S. Bankruptcy Code. Most equipment financiers are prepared for that...

Middle market lending: trends in credit granting, loan operations and process improvement.(Selected Topic)
September 1, 2003... Rationalization of Credit Policy Process The beleaguered U.S. economy and conflicting views about the depth and longevity, of the current environment leave many banks re-evaluating their processes. Adding to the uncertainty are record...

2003 credit and collection software overview: new products + new tools = more options for credit pros.(feature article)
September 1, 2003... Despite the sour economy, this has been another exciting year for credit and collection technology enthusiasts. The vendors have continued to come out with new products and new features. Whereas in the past, it was difficult to find a single...

A great reputation speaks for itself.
September 1, 2003... For more than 50 years, Robert Half Finance & Accounting has been the world's first and largest recruiting firm specializing in the placement of accounting and finance professionals. Listed below is a sampling of positions available through...

The Graduate School of Credit and Financial Management.
September 1, 2003... NACM and Business Credit magazine congratulate the GSCFM[R] Class of 2003 for an outstanding job! They have earned the prestigious Executive Award--GSCFM's certificate of completion: Dave Almeida, CCE Consultant ACT, Australia ...

Managing your financial value chain: instituting standards and best practices for financial processes will minimize risk, improve internal processes, and assist in Sarbanes-Oxley compliance.(Selected Topic)
September 1, 2003... The company that embraces Financial Value Chain Management (FVCM) will have a competitive advantage, the ability to institute internal controls, standardize processes, facilitate collaboration and conduct business on a global level without the...

2003 study on customer deductions: impact on receivables.(Selected Topic)
September 1, 2003... Just when you thought you had all the information you needed to know about customer deductions, the Credit search Foundation produces a 300-page study breaking out 22 industries, and examines the current state of customer short payments among...

Avoiding friendly fire: working with sales.(Required Reading)
September 1, 2003... Early in my credit career, I was taught: beware of sales. I was told, "You can make a good sales guy out of a credit guy, but you can never do the reverse." Perhaps these beliefs were due to the stereotypes we had of each other. Just...

Worldwide credit conditions.(At A Glance)
September 1, 2003... CREDIT BRIEFINGS FDI STALLED. Foreign direct investment slowed worldwide in 2002 and the first half of 2003, according to the OECD. The largest declines in inflows occurred in the U.S., where inflows fell 77%, from $138 billion in 2001 to...

Hot spots: Brazil.(International Section)
September 1, 2003... Following an initial love affair with President Luiz Inacio Lula da Silva, whose economic policies turned out to be encouragingly more conservative than many had feared, the financial markets have become volatile of late. Their worry is no...

A technology parable: the importance of preserving credit and collection automation capabilities when new enterprise software systems are implemented.(Selected Topic)
September 1, 2003... Technology can be a wonderful thing... when it works. Because there is so much around us and it usually works just fine, we often take technology for granted. The problem with our reliance on technology is that when it fails, everything seems...

In memoriam: Harold Holstead.(Brief Article)
September 1, 2003... Harold Holstead succumbed on July 28 to the cumulative effects of old age. He was 85 at the time of his death. Harold Holstead served as a Director and an elected Officer of CMA of Southern California during the '60s and was elected...

In memoriam: Walter S. Hunt.(Brief Article)
September 1, 2003... Walter s. Hunt died, Sunday, August 3 of a heart attack at age 81. Walter was a bright, engaging man of value who worked for Union Carbide in Connecticut for the last 30 years of his career, retiring in 1985. He was a graduate of GSCFM at...