Change is Good, by Larry Convoy

As we started CMA’s new fiscal year May 1, we began the annual ritual of passing the torch of group leadership on to new members.

We thank those of you who participate in the Industry Credit Groups, either on their leadership subgroups or as an active participant in the group. This year holds many of the same challenges that commercial credit grantors faced previously with the added pressures caused by the California drought and the horrible winters throughout the country. Therefore, strong group participation is essential.

Our belief at CMA is that the major component of a successful Industry Credit group is member participation, both online and by attending the meetings/conference calls. We sincerely appreciate those who make positive contributions to the group and encourage you to keep up the good work throughout this new fiscal.

For the fourth consecutive year, we have been able to revitalize several Industry Groups by getting more members to contribute their complete A/R to the CMA data bank. This industry-specific information has increased the information on the anscers report and helped add several new members to at-risk groups.

Did you know that companies that contribute their A/R:

  1. NEVER have to respond to RFIs as the system will automatically look for your trade information
  2. NEVER have to fill out their Past-Due Report or Meeting Review Report as CMA will automatically extract your information
  3. Create an industry-specific Data Bank that can be accessed 24/7

All group members are encouraged to look into contributing. It will save you time and can result in a large savings on a third-party credit reporting contract.

An increased data bank, timely alerts, comprehensive RFIs, packed meetings, engaged members and interesting best practices discussions make for successful groups. A successful group will save everyone $$$$ and validate your time and resource investment in the group.

Please feel free to call upon me throughout the year to assist in any way I can.  Have a great year!




Larry Convoy