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Many believe that having a credit policy is very restrictive, while others say it is not needed because the world is constantly changing and it is difficult to keep up the pace. Yet a third group touts its value in a changing world. From these samplings of answers and beliefs, we can say that credit […]

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by Sam Fensterstock, AGA “Cash is King,” and if you are not maximizing your cash flow, it can have serious repercussions on your operations and bottom line. Most companies, in particular SMBs, wait too long to aggressively go after their slow-paying accounts. It costs four times as much to bring on a new customer as it […]

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Why Are There No Pictures of Credit Managers, by Larry Convoy

As I travel around making visits at member companies, I am constantly amazed how many of the lobbies are shrines to the Salesperson of the Month or Regional or District Team of the Quarter, or some like group. Being in sales, I know how difficult it is to achieve and maintain some of these goals, […]

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Why it's Important to Participate in CMA (and How You Should Participate), by Larry Convoy

If your Industry Credit Group is anything like some of our other groups, your participation has never been more vital to your company. We are seeing the super stores (Costco, Home Depot, Walmart, etc.) taking a very substantial market share from the small- to medium-sized businesses. Amazon and other internet-based sites are making it easy […]

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The inaugural international credit best practices forum, which took place in January, was an overwhelming success amongst CMA members, as dozens listened in on the conversation led by international trade expert Gary Mendell of Meridian Finance. Based on the success of the meeting, CMA has scheduled the subsequent monthly meetings, which are listed below. Each […]

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This is a common-sense approach to the problem of determining whether a customer is about to become a collection problem. Companies that have a cash flow problem must choose which vendors they will continue to satisfy and which vendors they will not. If a company has insufficient cash on hand to pay all of their […]

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Credit Resources for Companies Selling Internationally, by Patrick Spargur

There is a saying, “When in Rome, do as the Romans.” That is a simple way to remember how to approach International Mitigation Tools. If your company decides to enter a new International market, as a credit manager (and risk management professional) you must be aware of the most common mitigation techniques that are used. […]

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With the recent rise in bankruptcies, it is more important than ever before to have a handle on business to business (B2B) risk management. More and more fraudulent companies are emerging, as business lines are being blurred from start-up manufacturers operating from a garage, e-commerce “e-tailers” businesses that may or may not be legitimate. Because […]

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Let’s say that you have placed your former customer for collection and your agency demands, as well as the local attorney, demands have not been successful. Your agency along with your attorney believe that litigation is your only option in hopes of being paid, provided that the amount due falls above your suit parameters. Had […]

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CMA President and CEO Mike Mitchell

Thanks to all the credit practitioners, industry experts, and industry partners who participated in the many valuable conversations at CMA’s recent CreditScape Summit. Our goal was to create an interactive, collaborative learning environment, and I was so pleased with the high level of sharing among all participants throughout the two-day event.   I was equally […]

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Lien waivers and releases, which were once just a way for owners and general contractors to make sure they wouldn’t have to pay for the same work or material twice, are now became something much more broader affecting much more than just a mere mechanic’s lien rights. Mechanic’s liens (a.k.a. construction liens) are designed to […]

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How does an industry credit group get started, keep its original objectives and thrive? Take the case of 55-year-old CMA Group Underwater Sports. On July 12, 1961, representatives from Healthways, US Divers, Voit, Swimmaster and Sportsways held the first official meeting of the newly formed Underwater Sports Equipment Credit Group facilitated by Credit Management Association. These […]

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The first word all Industry Credit Group facilitators are taught to listen for at a group meeting is WE, as in WE should all stop selling or WE should all put him on COD. This is the most severe of the Anti-Trust violations, and collusion like this can cost companies millions in lawsuits and fines. […]

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Hello everyone! I was thinking about an issue recently that affects all Credit and Collections professionals, when is the right time to place an account with a collection agency. Though I won’t be talking about Shakespeare (as the title of my blog suggests), I used the reference because I find myself pondering this question very […]

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At some point you were responsible for selecting a new outside collection agency (OCA) and started providing them with past due accounts for collection. Now, one of the executives in your company’s financial department wants to know how the OCA is doing. He wants you to justify your selection. What factors are you going to […]

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According to the American Bankruptcy Institute (ABI) data that was provided by Epiq Systems Inc. , total commercial filings during the first six months of the year (Jan. 1-June 30) increased 29 percent to 19,470 over the 15,071 total commercial filings during the same period in 2015. Commercial Chapter 11 filings also rose during the […]

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Finding companies that would fit in your industry credit group is not a difficult task. There are trade publications, mailing lists, associations and websites where you can input a company name and receive a list of that company’s competitors. The challenge is convincing an owner who has never been involved in a group to allow his credit manager to […]

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It seems that each month, a different industry feels the pain of losing one or more of their big players. It started in the Electronics industry a few years with Circuit City, moved over to the Grocery chains, department stores and last month it hit the Sporting Goods industry with 2 majors closing their doors. […]

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Greetings! I hope everyone is having a good month. I was at an Industry Credit group meeting recently where I was thinking, nowadays everyone is concerned with saving money, minimizing expenses, etc…, so I decided to write this month’s blog on “How you can be a hero to your company.” As credit managers, we have […]

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In an effort to explain credit management to the next generation, CMA’s partner Quote 2 Cash Solutions LLC, represented by Robert Shultz (Partner) took part in a panel discussion and career fair at the UCLA Extension campus on May 14. Titled “Career Success in Accounting and Finance,” Shultz, one of three Panelists, emphasized the importance […]

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Christopher Ng, esq.

Last week, I came back from the American Bar Association Forum on Construction Law Annual Meeting in Nashville, Tennessee. On my last night there, my wife and I went to the Grand Ole Opry. One of the featured country artists that night asked the audience, “You know what happens when you play a country music record backwards? You get your […]

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Customers using credit cards to pay suppliers’ invoices continue to increase, whether driven by principal’s self-interest in points miles, corporate customer’s interest in improving cash flow through additional float, or card networks pressuring customers to use cards to pay suppliers. But credit cards are the most expensive payment channel because the interchange fees imposed by […]

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Mike Puccinelli of Equinix addresses the crowd at the opening session of the Spring 2016 CreditScape.

The CreditScape Spring Summit and Annual Meeting, Powered by United TranzActions, an interactive learning seminar and workshop which took place March 24-25 at the Island Hotel Newport Beach, was a huge success, according to preliminary survey results that were tabulated after the event. With the common theme of “the elements of an efficient digital credit department,” attendees […]

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CMA President and CEO Mike Mitchell

CMA is proud to host the CreditScape Spring Summit 2016 next week in Newport Beach, with a significant focus on how technology can be leveraged to improve the efficiency and effectiveness of credit operations. Regardless of whether you are attending the event, we’d like to get a baseline for how much automation is being utilized […]

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Year after year, as we go through our careers, we are always looking for ways to improve ourselves and advance in our professions. I know for me, I got complacent with my job and quite frankly I didn’t know where to go and or who to turn to. My luck changed when I ran into […]

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Alexis Scott, Maltby Electric

An active participant in an Industry Credit Group is someone who attends meetings, shares best practices for the good of those in the group, submits their reports and gets useful information out of the meetings that they can take back to the office and make informed business decisions based on that information. Active participation is […]

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Yesterday I mentioned that I’d be listing several technologies I use that make my job easier. These are all things that I don’t have to call the I.T. department to install for me. These tech tools are easy to learn, easy to use, super helpful in the credit and collection department, make you look good, […]

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Define the Project Purpose and Scope? It is Not all about the Technology Any software or automation improvement addresses defined business objectives that impact multiple areas within the company. In order to pull off these changes effectively all stakeholders affected should be aware of and involved in the coming changes. Depending on the project and […]

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Last year, under the leadership of Alvin Moreno of Nestle Inc., CMA launched the Supplier Risk Credit Group, a Best Practices industry exchange group for those who have been assigned the task of vetting their vendors or for those credit managers who wished to enhance their position at their company by learning this job. Who […]

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MMitchell2

Like many of you, I made a number of New Year’s resolutions, and like many of you, I’ve already broken several (perhaps a 5-day-a-week commitment to go to the gym when it opens at 5 am was overly ambitious). At CMA, we have resolved to make mission and values a priority for this year and […]

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Consider this scenario: your boss tells you, the credit manager, that he/she’s just sold a palletload of your company’s widgets to a customer in a foreign country, and that you need to just “make it work and collect the money.” Sound familiar? We hear examples like that one over and over from our clients. So […]

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The CMA Nominating Committee is now accepting nominations and applications for service on the 2016-2017 Board of Directors. If you would like to nominate a candidate for service, or you are interested in applying for a Director position directly, please complete a Candidate Nomination or Application form and return it to CMA by January 29, […]

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Over the last 5 years, I have written approximately 55 newsletters preaching the value of Industry Credit Groups and encouraging your participation. I do this because I believe that a credit group is the single most valuable resource a credit manager can have. In the spirit of giving, Groups give you valuable data that many […]

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For construction-related businesses, filing preliminary notices, intent to liens and mechanics liens, and more, can be a necessary, but tedious and time-intensive process. CMA’s Construction Forms Filing Service offers assistance with helping companies ensure future mechanics liens rights. In order to showcase some of these services and inform our customers, we invite you to join […]

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Many of CMA’s members have reported that a growing problem in their companies seems to be their ability to receive trade credit related emails through their email spam filters. It seems that an increasing number of wanted emails from customers, creditors, trade groups such as Credit Management Association and others aren’t being received because IT […]

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There’s a lot that’s bundled in the $99 a month Industry Credit Group dues that group members pay. But, for sake of argument, let’s pretend for a moment that CMA unbundled those items and that you had to pay for each of those benefits separately. Many service providers, including CMA, have weighed the advantages of an […]

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Note: this is one in a series of international blogs to help credit managers learn how to assess risk in foreign countries and expand their potential customer base. As a consultant, NaviTrade is approached by companies on a regular basis asking for our assistance in developing and implementing financing programs for their international business. Sometimes […]

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Buddy Baker

Note: this is one in a series of international blogs to help credit managers learn how to assess risk in foreign countries and expand their potential customer base. Most CMA members don’t know me. I don’t make it to many CMA activities because I live in Chicago. But about a year ago, I joined CMA […]

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david harlow

Note: this is one in a series of international blogs to help credit managers learn how to assess risk in foreign countries and expand their potential customer base. A Foreign-Trade Zone is a secure, access-restricted, Customs & Border Protection privileged area in or near a U.S. port of entry where merchandise both foreign and domestic […]

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Several international-themed webinars have been scheduled for early December in an effort to get CMA members to think globally. The webinars, which will run 30 minutes each and are free for CMA members to attend, will take place December 1-3 at 9:00 AM PST. Descriptions for the webinars (and registration information) can be found at […]

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Wow…it’s hard to believe the holidays are just around the corner. We all know this time of the year we need to be more vigilant in regard to protecting our assets. I wanted to take a few minutes and list some bullet points to think about so you can share with your teams. I don’t […]

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CreditScape Spring Summit

Attendees of the 2016 Spring CreditScape Summit and Annual Meeting, which takes place March 24-25, 2016 at the Island Hotel in Newport Beach, will learn about the efficient digital credit department, according to CMA president and CEO Mike Mitchell. “We listened to feedback from Fall CreditScape attendees and members, and the survey results overwhelmingly suggested […]

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How can you play and get paid in the global marketplace? Over the last two years, CMA has been exploring how member companies can grow export sales using a variety of credit and trade finance resources to mitigate the risk of selling into other countries. Today, I am attending Discover Global Markets, a two-day export […]

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This is part 2 of a 2-part series on Order to Cash functions. Part 1 of the series can be seen here. Part 2  Outsourcing is not easy. It requires planning and tight partnering between the provider and the client. To be successful critical challenges must be overcome. All the processes related to the outsourced functions […]

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This is part 1 of a 2-part series on this topic. Read part 2 here. Part 1: Seven Advantages to Consider Overview: Many companies consider outsourcing all or part of the order-to-cash process as a cost-effective alternative to retaining internal staff and infrastructure improvements. This is not a decision to be taken lightly. It requires a […]

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Jim Morrow - I AM CMA

“As a longtime CMA member, there are two services that I really value. The monthly credit exchange meetings from the Industry Credit Groups provide very valuable information. The accounts discussed may not be on your radar the day of the meeting but down the road a day, a week, or a month, you will have […]

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All too often our members tell us that they want to take advantage of benefits offered by CMA, but they are not in the budget. For companies on a calendar fiscal year, here’s your opportunity to begin thinking about those budgetworthy benefits for 2016. Even if your next fiscal year extends well into 2016, it’s […]

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— Expanded Two-Day Education Summit will be held March 24-25, 2016 in Newport Beach– On the heels of its successful inaugural CreditScape Fall Summit in Las Vegas, Credit Management Association (CMA) has announced plans for an expanded Annual Meeting, which will include two days of focused credit management best practices training and workshops to help […]

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"Speed networking" event allowed attendees to discover services that can help them "prevent collections" at the 2015 CreditScape Fall Summit.

The CreditScape Fall Summit, an interactive learning seminar and workshop which took place September 17-18 at the Tropicana Las Vegas, was a success, according to preliminary survey results that were tabulated after the event. Among the feedback received: “What key takeaways did I get? There were too many to list. There were takeaways from every […]

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Submitting your company’s full A/R has been talked about quite a bit this summer. There is a reason for that…it’s important. I wanted to take a minute to point out the value and personally ask for your support in this request. You know, the more companies that contribute, the more people that will benefit. If you […]

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CMA, through the input of its Membership Committee, has launched a new campaign to allow members to share the most valuable aspects of their membership with CMA members. Titled “I Am CMA,” the series will explore CMA’s different programs and services and how they have helped members. The first blog will appear at CreditManagementAssociation.org in […]

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Negotiation is not a contest to see who can prevail. It is the “art” of getting to the point where two parties can agree on critical concerns. It encompasses employing core negotiation principles, the use of applicable strategies addressing the situation, focus on specific objectives, having a fallback position and, if all else fails, knowing […]

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Pepsico joins Supplier Risk Group

Published on September 23, 2015 by in Articles, Member News

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Pepsico

Pepsico is the latest company to join CMA’s Supplier Risk Management Group. The Group, which is one of 60 Industry Credit Groups that CMA offers, provides resources for learning the best practices and techniques to evaluate your suppliers. Pepsico joins other participants in the group including Nestle USA, Aryzta, Ventura Foods, Silgan Containers, and others. […]

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The Wall Street Journal reports that credit card use in the B2B space continues to increase as a preferred payment channel for customers. Suppliers accepting cards in the B2B space commonly receive payment through card not present forms, whether through payment portal, email, fax or over the phone. For those suppliers that accept cards in […]

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With the NFL season officially underway, let’s take a moment to explore what Accounts Receivable departments can learn from coaches, especially when it comes to the season’s biggest game changer: analytics. As a credit and collections professional, take a look at the metrics you’re currently tracking. Throughout my years as a consultative resource for AR […]

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Recently, one of my Industry Credit Groups experienced 3 bankruptcies in less than 48 hours. One of these was an East Coast account that only 2 members were selling with minimal exposure so their losses were small. The other 2 were long-established accounts. Since I always preach that the 1st alert posted should never be […]

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  CMA Congratulates Recent NACM-Certified Professionals Several CMA member individuals recently passed their NACM-certified professional certification exam, demonstrating standards of professional excellence. BURBANK, CA (September 2, 2015)–The NACM professional certification program, sponsored by the National Association of Credit Management, has helped define and establish professional standards in this demanding and rapidly changing field, and fosters […]

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As August winds down and your teams are returning from their summer vacations hopefully, things are returning back to normal. This may now give you the opportunity to review the services you currently use in your credit departments today. As our vehicles need tune-ups so do our credit departments from time to time. As an […]

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In today’s business world, virtually every department in every company uses analytics to create efficiencies, make better decisions, and improve results. For example, a sales manager is no longer basing the sales team’s success solely on the number of sales made—that person is utilizing technology that looks at a number of metrics beyond those final […]

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Penalties for violations of applicable federal or state antitrust laws can include fines, imprisonment, and liability for up to triple damages. How do antitrust laws affect day-to-day credit decision making and business activities? To what extent is pricing and payment terms subject to U.S. antitrust laws? Is it a violation of one or more antitrust […]

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Let’s assume you have received and reviewed and rejected a request for open account terms from an applicant company. What would you do if that applicant called and demanded to know the specific reason for your decision? Would you: Ignore the request, or Might you offer a response such as this: “Your company does not […]

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Some of you remember the great Jimmy Stewart movie, “It’s a Wonderful Life,” in which he envisions what life would have been like if he wasn’t born and its effect on his loved ones. At the conclusion, he is thrilled that it was only a dream and realized how good he actually had it. Consider […]

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Debt collections fall broadly into two categories: Consumer collections, and Commercial collections. Consumer collections involve collection activities between a business and a consumer. Consumer collections are highly regulated. These laws are intended to protect consumers from overly aggressive or deceptive practices used against inexperienced and unsophisticated consumers. Commercial collection deals with debts owed by one […]

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Thank you, Dina Amadril!

Published on August 5, 2015 by in Articles, Member News

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CMA management and staff would like to say “Thank You” to longtime Credit Management Association staff member Dina Amadril for her 25-plus years of service with CMA. Dina recently left CMA to pursue her passion, making ice cream at her new business, the Long Beach Creamery in Long Beach, CA. During her time at CMA, she […]

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As we are all busy at our desks this summer with increased sales, dealing with coverage issues due to family summer vacations, etc., let’s take a minute to think about where we are all at with our current positions. Don’t we all want to stay up-to-date with the latest best practices in collections? Or maybe […]

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Customers in the B2B space are increasingly using credit cards to pay supplier invoices. The upside for the cardholder and paying customer is the 30 extra days to pay the cardholder statement that includes the supplier’s invoice. Cards also reduce paperwork and allow the customer to eliminate the time and cost of processing A/P checks. […]

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What should you do when you receive a check from a customer for an amount less than your total claim, but the check is marked with a “payment in full” or similar restrictive notation? Should you return the check to the debtor? Or can you simply cross out the “payment in full” language, deposit the […]

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When someone signs a contract to do business with your company, you allow them to do so with the expectation that they will pay you. In the U.S., there are laws that help protect your assets to ensure that the contract is enforceable, but what happens when you’re dealing with foreign nations? Are there resources […]

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Traditionally, debt collection involved little more than picking up the phone and convincing the debtor why they need to pay for the products/services sooner rather than later. Today, credit and collection professionals are being asked to adopt more sophisticated techniques. One of the newer techniques utilizes predictive analytics to create collection management strategies. Predictive analytics […]

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In my 20+ year career as a collector, I’ve learned that there are psychological advantages you have collecting your past dues that can separate you from the hundreds of other collectors trying to collect money from a delinquent account. From experience, I’ve developed a six-step process to improve my own collection techniques that does not […]

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Can anyone sign a contract? Most people agree the answer to this question is No. For example, most people acknowledge that a Minor [someone under 18] cannot sign a valid, enforceable contract. So… who can sign a valid, enforceable contract on behalf of a customer? More specifically, who can sign a valid credit application on […]

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At CMA, we are so excited about the CreditScape program we’ve got planned for you, we wanted to give everyone a sneak peak at what you’ll be talking about. All next week, CMA will publish a series of briefs from thought leaders who will be featured at the Summit — Chris Rios, Bart Frankel, Scott […]

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by Matt Fluegge, Vantiv You may have heard there’s a change coming to the way many businesses accept card payments. The U.S. is in the process of transitioning away from the magnetic stripe cards we’re all familiar with, and moving toward installing small microchips into the cards – also known as chip-and-sign. If you’ve already upgraded […]

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The CreditScape Fall Summit, September 17-18, 2015 at Tropicana Las Vegas, offers a 360-degree look into the entire collections process, focusing on best practices and real-world case studies with the best and brightest practitioners in credit and collections. Here are some highlights of the sessions and workshops at the Summit. The full schedule, along with […]

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‘Collections,’ ‘collectors,’ ‘collection agencies,’ ‘collection attorneys’: words that evoke strong emotions, sometimes even terror, in the hearts of uninformed debtors. Robocalls, automatic dialers, dialing for money, calling centers, SMS, texting, e-mailing, invoicing, phone calls, and personal visits—some of the avenues that companies pursue to collect their precious asset known as accounts receivable. When we look […]

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CMA President and CEO Mike Mitchell

  Most CMA members are familiar with the NACM National Trade Credit Report, or NTCR. CMA has been a proud supporter of the NTCR program since its inception, aggregating trade information from NACM members across the U.S. The result has been a unique credit report product that you can only access as an NACM member. What […]

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CreditScape Fall Summit Logo

Registration is now open for the 2015 CreditScape Fall Summit, which will focus solely on improving attendees’ collection practices. The conference, a collaboration with commercial collection partner AG Adjustments (AGA), takes place September 17-18, 2015 at the newly renovated Tropicana Hotel on the Las Vegas Strip, featuring two days of hands-on workshop training, expert practical […]

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Michael C. Dennis

A bad debt can ruin a good day. A bad debt is any debt that cannot be collected. Bad debt write-offs are a cost of doing business on open account terms. No matter how carefully the credit department reviews existing customers and new applicants, such losses are inevitable. Bad debt losses are a cost of […]

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CMA President Mike Mitchell

CMA is proud to announce that it is collaborating with commercial collection partner AG Adjustments (AGA) to bring credit professionals an entirely new experience in collection and A/R management training. The CreditScape Fall Summit, which takes place September 17-18, 2015 at the newly renovated Tropicana Hotel on the Las Vegas Strip, features two days of […]

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Change is Good, by Larry Convoy

Published on May 26, 2015 by in Articles

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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 […]

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CMA President Mike Mitchell

I have always been a big proponent of continuing education. My degree programs gave me the opportunity to serve in my current executive role at CMA, and earning my Certified Association Executive (CAE) designation helped me continue to grow into this complex management and leadership role. Having spent the last 15 years working closely with […]

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Did you know that the CMA staff has dozens of years of credit and collections knowledge that is available for free to members? If you haven’t called CMA lately, you should call the association’s experts to ask your questions about the construction services industry and construction forms filing (led by Amber Jackson, 702-259-2622); credit reports […]

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Source: NACM’s Principles of Business Credit Credit investigations on a customer don’t end once an application is approved and an account is established. Every company’s credit policy should include procedures for updating customer credit applications periodically, keeping in mind that certain specific events should trigger an immediate reevaluation. When to Investigate an Account It is […]

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Michael Fenner, CMA Chairman of the Board of Directors

Here at CMA we are always looking for engaged volunteers; you know, new people, fresh ideas etc. who can help further the credit management profession. Are you wanting to make a difference? It is so important for each and every one of us to support our association. Without members like you and I it just […]

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When facing a company showing signs of distress, we often hear credit managers afraid of the “big B,” bankruptcy. Well, while closing the doors of a company is never a pleasant thing, there might be another way to shut down without the many legal pitfalls for creditors in bankruptcy. The legal world fully embraces any […]

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CMA President Mike Mitchell

With another Annual Meeting behind us, I was encouraged to see such a great turnout at the event last week. It was a pleasure seeing all who attended CMA’s Annual Meeting at Disneyland, and what made it particularly exciting for me was seeing that more and more of you are coming out of your offices […]

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— The Construction Credit Report is a new single-source report providing critical construction related data—   Yesterday, industry leaders in business credit data exchange on the West Coast– Credit Management Association® (CMA), Ansonia Credit Data and Southwest Business Credit Services– released THE Construction Credit Report, providing companies in the construction industry all the critical information […]

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Larry Convoy, lead group facilitator

It occurred to me while watching Kentucky annihilate another opponent on their way to a possible NCAA title, that there are many similarities between a championship basketball team and a successful Industry Credit Group. Both need a strong point guard, someone to lead the meeting, keep it focused and moving forward and keep all players or […]

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Melissa Kobus, CCE, is the Credit Management Association Chair and Regional Credit Manager for Anixter Inc., based in Anaheim, CA. She can be reached at 714-695-2219, or melissa.kobus@anixter.com

I am honored to have served as the CMA Chairman of the Board for the last year and as my chairmanship ends this month, I would like to share my sincere gratitude and appreciation to the membership. It was a great privilege to serve on behalf of the entire membership. My goal was to provide […]

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Michael C. Dennis

Collectors often make the mistake of talking to “Puppets,” those who are not authorized to make decisions, and are surprised and disappointed when a Puppeteer working at the customer company overrides, overrules or ignores the payment commitment provided by their Puppet. In a credit manager’s world where the norm is to deal with “puppets,” how […]

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Larry Convoy, lead group facilitator

I have often wondered how industry groups are able to hold meetings in the winter in the Middle and Northeast parts of the country. Last month, I experienced this when one of my National groups met in Nashville. The temperature went from a high of 18* to a low of -3* with the wind-chill and […]

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Supplier Risk Management Group

Supplier Risk Credit Group to provide tools to help companies avoid business disruption. Credit Management Association recently announced that credit professionals will now have access to tools that will help them assess the riskiness of a vendor with the formation of the association’s new Supplier Risk Credit Group. Comprised of credit and risk-management professionals from […]

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Tony Hadley of Experian

by Tony Hadley Senior Vice President, Government Affairs and Public Policy, Experian   In many cases, business lenders often rely on the commercial credit of the enterprise coupled with the personal credit of the business owner when making lending decisions. This is especially true for sole proprietorships and partnerships. To that end, regulatory action and […]

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CMA Has Solutions

Recently, a friend of mine told me that he joined a well-known national association. When I asked him why he joined, he told me he was really only interested in one of the benefits they offered, and that he would probably never explore the other benefits because that one thing was valuable enough to him […]

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credit_paradise_print

Credit professionals will experience a “Credit Paradise” on April 9, 2015 at Credit Management Association’s Annual Meeting. Taking place at Disneyland’s Paradise Pier Hotel in Anaheim, California, the “Credit Paradise” event includes a full day of training, education, awards and networking opportunities with other credit professionals. “The Annual Meeting allows CMA members from all over […]

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Larry Convoy, lead group facilitator

Recently, I discovered that a longtime CMA and group member had played college basketball not far from where I went to school.  A few years ago, I found out that gentleman who sat next to me at a group meeting was a decorated hero from the Korean War.  Unfortunately, both discoveries were a result of […]

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Melissa Kobus, CCE, is the Credit Management Association Chair and Regional Credit Manager for Anixter Inc., based in Anaheim, CA. She can be reached at 714-695-2219, or melissa.kobus@anixter.com

The role of credit is ever changing.   What credit professionals handle on a daily, weekly, monthly basis is challenging and can sometimes feel overwhelming.  The requests from your customers, internally and externally, require you to reprioritize at any minute of the day.  What happens when the requests outweigh the resources available?  How do you handle […]

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financial_plan

In a recent survey of entrepreneurs that were about to start a business or had been in business for less than a year, we recently uncovered the areas that business owners explored to finance their business. When asked about how they financed their businesses or how they planned their financing, some revealing answers came to […]

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Scott Blakeley, esq.

By Scott Blakeley, Esq. Blakeley & Blakeley, LLP Apple has made a media splash with its announcement of Apple Pay, the latest foray of a tech company entering the mobile card payment space. While the B2B space has been slow to embrace electronic payment channel alternatives, especially those designed for smart phones and tablets, these […]

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CMA Industry Group Leader Larry Convoy

This year, I put my New Year’s resolutions in writing so that I could verify that I achieved them next December. Unfortunately, the major one was broken by 9AM on January 1st when my wife asked if I wanted eggs or the leftover cheesecake for breakfast. Though I was weak, it doesn’t mean that you […]

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CMA President Mike Mitchell

Happy New Year! With gas prices down and holiday sales up over last year, 2015 has already been off to a great start. At CMA, we are working on exciting new initiatives that will make it an even happier 2015. I recently attended a credit reporting summit hosted by one of CMA’s partners, Experian, and […]

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Resident IT expert Michael Hansen Celebrates 25 years with CMA

As the year draws to a close, it’s time to celebrate some of the notable accomplishments that happened in 2014, as the association staff looks forward to serving your risk management needs in 2015. Among those activities, several members of CMA’s own staff celebrated milestone anniversaries in 2014, and we ask that you join with […]

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CMA Industry Group Leader Larry Convoy

During my time in credit management, I’ve often heard the following: “We can survive if a customer goes bad, we cannot survive if one of our primary or secondary vendors has an interruption in delivering product, raw materials or services to us. For that reason, we invest an equal amount of resources investigating our vendors.” […]

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2014 has been a very productive year for us at Credit Management Association. While the year will be remembered in pop culture history for its massive data breaches and Kim Kardashian “breaking the internet,” CMA has continued to help businesses minimize risk, as it has since it was founded in 1883. Additionally, it has enhanced […]

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There is no time more stressful for small business owners than the end of the year. This period of juggling numbers, sorting out income and finding the most efficient tax breaks can confuse anyone. To avoid the cash crunch, many of today’s businesses are turning to invoice discounting services for some much-needed help. Here are […]

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CMA Industry Group Leader Larry Convoy

With due respect to David Letterman and Sports Center’s nightly “Top 10” lists, there are some lists that you would be better off not being on.  One that directly affects you and your company is “The Top 20 Creditors in a Bankruptcy Case,” a document that is easily obtainable by accessing Pacer. No company likes […]

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Melissa Kobus, CCE, is the Credit Management Association Chair and Regional Credit Manager for Anixter Inc., based in Anaheim, CA. She can be reached at 714-695-2219, or melissa.kobus@anixter.com

It’s December, the last month of the fiscal calendar for most companies.  There is a lot of pressure to make sure your results are strong.  The sales team wants to have as many orders as possible go out the door. You need to have as much money as possible come in but your customers are […]

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Credit professionals will experience “A Credit Paradise” on April 9, 2015 at Credit Management Association’s Annual Meeting. Taking place at Disneyland’s Paradise Pier Hotel in Anaheim, California, the “A Credit Paradise” event includes a full day of training, education, awards and networking opportunities with other credit professionals. CMA is currently surveying its members about the […]

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We are excited to announce that CMA and The Interface Financial Group (IFG) have announced a partnership that will offer small businesses an alternative source for working capital. IFG will be working with members of Credit Management Association (CMA) and their at-risk customers to provide working capital through receivables financing to companies who are unable […]

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Scott Blakeley, esq.

The global supply chain is an often written topic in the press. Recent public company chapter 11 filings (usually Delaware or the Southern District of New York) highlight the global network of suppliers reflected in debtors’ lists of 20 or 30 largest unsecured creditors. This list often consists of offshore creditors from around the globe, […]

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CMA Industry Group Leader Larry Convoy

November is a month to give thanks. One of the benefits of working in the Industry Credit Group department that I’m thankful for is the ability to help companies minimize their risk in new industries. In fact, many ideas and leads for new groups come from members who have changed jobs, know the benefits of […]

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Melissa Kobus, CCE, is the Credit Management Association Chair and Regional Credit Manager for Anixter Inc., based in Anaheim, CA. She can be reached at 714-695-2219, or melissa.kobus@anixter.com

As you probably already know, I am a big proponent of continuing education, which is why I attended the CreditScape – Western Region Credit Conference,  held at the Palms Hotel in Las Vegas last month. As someone who has participated in many seminars and events, this was one of the better programs I’ve attended.  I […]

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Rich Swanson, USFCS Pacific South Region, and Mike Mitchell, CAE, President & CEO, CMA (Credit Management Association) sign the MOA at the CreditScape Conference at the Palms Hotel, Las Vegas on Thursday, October 16, 2014.

Credit Management Association® (CMA) and the International Trade Administration (ITA) of the U.S. Department of Commerce (DOC) have agreed on an extension to its Memorandum of Agreement (MOA), titled the “U.S. Trade and Investment Expansion Partnership,” that will help credit and risk management professionals gain access to educational resources needed to expand their businesses nationally […]

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What’s new at CreditScape 2014?

Published on September 23, 2014 by in Articles, Education, Events, NACM

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CreditScape 2014

In four weeks from today, many of the greatest minds in credit management will gather at the Palms Hotel in Las Vegas at CreditScape, the 2014 Western Region Credit Conference. If you haven’t already signed up for the conference, here are 10 new reasons to attend: 1. NEW TO WRCC: Top-notch presenters and program moderators, […]

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cheryl lloyd

Congratulations to CMA senior accountant Cheryl Lloyd, who on Monday celebrated her 50th anniversary with Credit Management Association. Lloyd, who began working at the CMA headquarters (then located in the Koreatown area of Los Angeles) on Sept. 8, 1964, started as an Industry Credit Group clerk, moved over to maintaining membership records, then to accounting […]

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CMA is excited to announce that it has published a series of enhancements to its Construction Forms Filing Services (CFFS) on CMA’s website, CreditManagementAssociation.com. The site, which serves as a point of reference for those who supply materials or labor to construction projects, equips companies with the tools to protect their lien rights under the […]

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Credit Management Association® announced that it has entered into a strategic partnership with the International Trade Administration (ITA) of the U.S. Department of Commerce (DOC). The Memorandum of Agreement (MOA), titled the “U.S. Trade and Investment Expansion Partnership,” will help credit and risk management professionals gain access to educational resources needed to expand their businesses […]

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Credit Management Association® and Trade Information Exchange are proud to announce that they have produced the anscersX Report, a single report that contains all the key elements about your customers’ paying habits needed to make most credit decisions.

The anscersX multi-bureau trade credit report combines key factors from the three largest trade credit reporting agencies (D&B, Experian and Equifax), giving credit managers the most complete payment story available. “We spent time reviewing all the elements on each provider’s business credit report to determine what would give anscersX clients the best insight into their […]

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In an effort to keep its members informed about issues affecting credit managers, Credit Management Association has created a new bi-weekly electronic newsletter, called CMA Quick News, to be distributed to members of the association. The newsletter, which will be released every other Thursday beginning June 5 via e-mail, offers tips and tricks to make […]

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For the majority of us, the primary reason we use our credit card as a form of payment is the rewards program.  It is not because we cannot pay the bill with a check, or from our bank portal, or from the merchants webpage…we simply want the rewards.  Of course, in the business to business […]

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Just when you thought that the economic forecast had brightened, multiple storm fronts have appeared that may bring the good times to an end. If you are selling in California, you must factor in the drought when evaluating a new or existing customer. Drive through the Central Valley and notice the deserted farms and dairies. […]

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At CMA, success of our groups can be directly tied to the amount of information exchanged. Traditionally, membership in CMA’s industry groups was restricted to companies selling the same product. For example, the Electric group had only electrical distributors, and the Roofing group had only shingle suppliers. This system worked out very well before mergers […]

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Cash Flow

By: Gene Tanguay Don’t overlook cash. It is often overlooked and yet the most critical component of financial statement analysis. Cash ratios are essential to credit scoring and to greatly mitigating credit risk. Incorporate in-depth, highly proficient and sophisticated cash ratios into your credit scoring model to assess cash retention, cash generation and cash burn […]

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If a tree falls...

We have all heard the expression about the tree falling in the woods with no one around, does it make a sound? To relate this to Industry Credit Groups, if an alert posted by a member of your group results in your company avoiding a big loss, does senior management ever hear this? Within the […]

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ucla_summer_session

by Mike Mitchell, CAE – CMA President I have long wondered why institutions of higher learning have not offered courses in business credit. When I was pursuing my graduate degree in business administration, I don’t recall that credit ever came up as part of the course curriculum. I began working for CMA shortly after I […]

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Less Is More

At a recent National group meeting, 2 members took totally opposite routes to reach the same credit decision on a potential new account. In one corner, we had a credit manager who utilized a comprehensive D&B, a Experian Business Owner Profile report on the individual principles and data from Hoovers and various internet sites. In […]

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NACM

Accountants have CPAs, Attorneys have Esq., Association Executives have CAEs, Business Professionals have MBAs, and many Professors and Scientists have PhDs. Business Credit Professionals can also receive professional designations that identify their level of knowledge and skill at the credit profession. There are three professional designations that demonstrate a commitment to excellence in the credit […]

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No Alerts or RFI’s – What’s Up?

Published on January 28, 2013 by in Articles

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anscers RFI and Alerts

TO ALL CREDIT GROUP MEMBERS: As I navigate around anscers.com, I am amazed at how many groups have no alerts and no RFI’s on their group page. Are we to assume from this that the members of these groups get : NO NSF CHECKS, PLACE NO ONE FOR COLLECTION, NEVER WITHDRAW CREDIT, NEVER FILE LIENS, […]

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“Trust, but verify” creditworthiness

Published on January 22, 2013 by in Articles

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Trust and Verify

Data from CMA’s Credit Confidence Survey was used to created this article by Sageworks, Inc. You can participate in this quarters CMA Credit Confidence Survey using this link. “Trust, but verify” creditworthiness  By Mary Ellen Biery, Research Specialist, Sageworks, Inc. More than four years after the peak of the U.S. financial crisis, bankers, businesses and borrowers still […]

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Thank You

As we close out 2012, we have much to be thankful for. Naturally – family, health and living in the greatest country on the planet are at the top of the list. Somewhere on the list should be those people you meet with that make your job easier by sharing their knowledge and credit experiences […]

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A recent decision by the California Appellate Court has now changed the rules for contractors and material suppliers. In the case of California Paving & Grading Co., Inc. vs. Lincoln General Insurance Company, decided on May 21, 2012, the appellate court concluded that any time a public agency enters into a contract where a private […]

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A Failure To Communicate – Larry Convoy

Published on September 27, 2011 by in Articles

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Cool Hand Luke

One of my greatest frustrations as an Industry Group Secretary is getting an email or phone call from a member about 10AM saying they will not be able to attend that days meeting because they are shorthanded or the boss wants them to stay and cover the phones.  When I remind them that an industry […]

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Nancy Friedman

By Nancy Friedman, the Telephone Doctor Ask most folks and I’m betting the answer you hear will be, “Yes.” Ask us at Telephone Doctor and we’ll tell you, “The customer always thinks they’re right.” It’s the perception of that you need to work with and, as we know, perception is reality. If you go with our theory […]

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Provided by Amber Jackson, CMA Constructions Forms Filing Manager Summary of changes to CA Civil Code 3084 and 3146 effective 01/01/11 Civil Code section 3084 • Mechanic’s Lien with a proof of service affidavit and “Notice of Mechanic’s Lien” must be served on the owner of the property before the Mechanic’s Lien is recorded [3084(c) (1)]; – […]

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Sponsored by UTA

As consumers, we’re inundated with all things Internet‐related. Everyone has a web site and we’re all expected to have an e‐mail address. So does that mean that we’re all paying our bills online, too? Today, companies are wrestling with this notion. In theory, electronic billing, presentment, and payment (EBPP) is the ultimate model of efficiency. […]

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10 Times the Leadership!

Published on October 14, 2010 by in Articles

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Debbie Lundberg

Article from Debbie Lundberg our closing speaker at the WRCC. “Not the cry, but the flight of the wild duck, leads the flock to fly and follow.” ~Chinese Saying~ While there are many lists and ideas about leadership, after speaking with a wonderful and talented client about leading during a one-on-one coaching session, I left […]

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NancyPurpleResize

There are a lot of ‘rules’ in customer service, but few more important than the six we’ve listed here from our newly reproduced DVD Six Cardinal Rules of Customer Service. Each makes a valid statement and will increase the satisfaction of your clients. Cardinal Rule #1 – Personal Responsibility/Accountability: Don’t Pass the Buck One of the most […]

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Pending bill affecting Bidding Practices for Public Works Projects in California

by Joseph M. Hanna The California Assembly is considering AB 2390 which, if passed, will affect how all bids are prepared and submitted for public works projects in California under Public Contract Code§3300 and §4104. This pending bill applies only to contractors who contract directly with the public entity. A public entity consists of the […]

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The Five C’s of Collections

Published on April 21, 2010 by in Articles

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Michael C. Dennis

By: Michael C. Dennis Commercial collections are always difficult. This is especially true in the current economic conditions. Collectors and their managers are often frustrated by slowing cash inflows, broken payment commitments, higher bad debt losses, and payment delays from previously stellar customers. The goal of every collector is to maintain as much goodwill as […]

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Listen Up! by The Telephone Doctor

Published on March 24, 2010 by in Articles

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Picture 73

Do we really LISTEN? Do we really HEAR what people are saying? Are there any methods, tricks, ideas, tips or techniques to make us be better listeners? We at Telephone Doctor believe there are. Taken from our newly released DVD on listening skills, below are some ideas to help those who are having trouble being […]

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One of the attributes I have noticed in nearly every great leader that I’ve worked with is that they know how to get back up after they fall. I don’t think they fall any less than the rest of us, or any less hard. But they don’t lay there very long. I actually believe that […]

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A Customer Relationship Repair Plan

Published on March 17, 2010 by in Articles

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Large corporations and small businesses are operated by people and people makes mistakes. The mistakes your employees or you make can cause a great deal of annoyance and inconvenience for your customers. We all know the old adage “the customer is always right”. It isn’t really true, but the sentiment behind it is. If you’ve […]

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by Colleen Kettenhofen “When managing difficult people, if it isn’t written down, it’s as if it didn’t happen.” Many managers and supervisors are promoted to management positions based on their hard skills. Yet few of them have had training in the area of managing people. Especially managing difficult people. In conducting seminars on managing people, […]

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What Type of Questioner Are You?

Published on February 17, 2010 by in Articles

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By Nancy Friedman, The Telephone Doctor We all ask questions. And when we ask the right way – and ask the right questions – we normally can get the best and right answers. J. Douglas Edwards, a master sales trainer from years ago, now deceased, said: “Questions ARE the answers.” And we so agree with […]

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Watch That Tone Of Voice

Published on September 8, 2009 by in Articles

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By: Nancy Friedman Your Mom was right. It’s not what you say, but how you say it. Several times while I was out shopping recently, I’ve been told things that frankly, weren’t that bad, but the tone of voice was so wrong. I walked away not wanting to do business with that company anymore. It reminded […]

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MENLO PARK, CA — For many hiring managers, evaluating a job applicant may feel like going on a blind date: the applicant looks good on paper but disappoints in person. More than seven out of 10 (72 percent) senior executives interviewed said it is common for candidates with promising resumes not to live up to […]

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Opt-Ed in LA Business Journal By MIKE MITCHELL and RICHARD HASTINGS As the small business center of California, Los Angeles drives the largest economy in the United States. The economic engine in our region is remarkably deep and wide – high-end restaurants, hotels and garages, gift shopsand grocery chains, small and medium manufacturers and retailers, […]

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MENLO PARK, CA — A recent survey suggests the majority of professionals believe their employers are rising to the occasion when it comes to responding to the downturn. Nearly seven in 10 (69 percent) workers interviewed said their companies are taking appropriate steps to weather current economic conditions. Additionally, more than half (55 percent) feel […]

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Survey Finds East South Central and West South Central Regions Most Optimistic About Financial Hiring MENLO PARK, CA — Employers are expected to remain cautious about adding accounting and finance professionals in the third quarter, according to the Robert Half International Financial Hiring Index. Five percent of chief financial officers (CFOs) expect to hire full-time employees during the […]

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MENLO PARK, CA — Difficult economic conditions have had a substantial impact on accounting and finance departments around the globe, according to a new survey of finance and human resources managers. Respondents reported that economic conditions have contributed to heavier workloads, higher stress levels and lower morale. The study also found that firms are adapting […]

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MENLO PARK, CA — A net 2 percent of chief financial officers (CFOs) interviewed for the Robert Half International Financial Hiring Index predict decreases in accounting and finance personnel in the second quarter of 2009, with most (86 percent) executives reporting a desire to maintain current staff levels for the next three months. Five percent of respondents indicated they […]

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NACM, the CMI and Credit Groups are mentioned in this article from CFO.com. The downturn gives companies an excuse for demanding that customers share more financial information, to keep on top of clients' ability to pay and stay viable.
Sarah Johnson, CFO.com | US
January 22, 2009 The distinction between dependable and unreliable customers keeps getting blurrier. […]

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MENLO PARK, CA — Managing employees is never easy, but it poses a particular challenge when teams are lean and the economy is uncertain. While some of the obstacles businesses are grappling with may be new, the strategies they can use to foster teamwork in a troubled economy are not, according to specialized staffing service […]

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21 Dumbest Moments in Business 2008

Published on February 3, 2009 by in Articles

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From Fortune.com – We don't know whether to laugh or cry. Our annual list of the year's most laughable moves proves that, even in moments of crisis, stupidity lives on.  Click here to view.

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6 Simple Energy Shifts to Relieve Stress

Published on January 27, 2009 by in Articles

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“Stress is the trash of modern life” according to writer Danzae Pace.  “We all generate it but if you don’t dispose of it properly, it will pile up and overtake your life. ”   For 21st century humans, it’s nearly impossible to live a stress-free life.  Even if you’re doing what you love and have a fulfilling […]

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Timely Cash Flow Tips

Published on January 26, 2009 by in Articles

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The early identification and control of potential bad debt losses is important to the very survival of a company. During a recent phone conversation with the CEO of a national distribution company I was told about how one of their branch offices in Calif. had taken a $97,000.00 hit from a customer who was unable […]

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By Scott Blakeley, Esq. However, in a recessionary economy, credit professionals cannot merely cut off credit when a customer fails to honor its credit terms. The focus is no longer merely collection alternatives, as a substitute customer can be found in a robust economy. Rather, you must evaluate, with the assistance of sales and management, […]

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With high-profile company bankruptcies becoming distressingly common, many would be hard-pressed to find an upside. According to a new study by three finance researchers at the University of Utah's David Eccles School of Business, however, there might be a silver lining of sorts: the effectiveness of the U.S. bankruptcy system. They found that 80% of […]

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UNHAPPILY EVER AFTER

Published on January 19, 2009 by in Articles

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Survey: Dissatisfaction With Management Top Reason Good Employees Quit MENLO PARK, CA — When top performers decide to jump ship, managers may want to consider a little self-reflection, a recent survey suggests. More than one-third (35 percent) of executives interviewed said good employees are most likely to quit their jobs because of unhappiness with management. […]

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If you are to fully deliver what you are capable as a leader, you need to gain the respect of those that you lead. While it might appear easy in theory, gaining respect from a sufficiently large pool of people in any organisation is extremely challenging. So what mistakes do leaders make that lead to […]

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How FICO score is determined

Published on November 18, 2008 by in Articles

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Ficofactors

To find out more about how FICO is determined, click  through to "What's In Your FICO score" provided by myfico.com.

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MENLO PARK, CA — There’s no question job seekers face a challenging employment environment and must work hard to find new opportunities. To help professionals looking to make their next career move, Max Messmer, chairman and CEO of Robert Half International and author of Job Hunting For Dummies®, 2nd Edition (John Wiley & Sons, Inc.), recently […]

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2009 ROBERT HALF SALARY GUIDES IDENTIFY JOB MARKET BRIGHT SPOTS MENLO PARK, CA — Even in the current economy, certain skill sets remain difficult to find, according to the 2009 Salary Guides from Robert Half International. The recently released guides point to modest overall salary increases for accounting, information technology (IT) and administrative roles, but highlight specialized […]

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To get a good job at home, tomorrow's accounting professionals may first need to work abroad, a new survey suggests. Seven out of 10 (71%) chief financial officers (CFOs) interviewed said international experience will be necessary for accounting and finance professionals five years from now. This is up from 56% in 2002, when the same […]

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Lessons From Today’s Credit Crisis

Published on October 13, 2008 by in Articles

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The Credit Research Foundation has drafted a very relevant "occasional paper" on the lessons to be learned from this economy. It is an essential read in these turbulent times. Download lessons_for_today.pdf

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Cover Your Bases – Cover Letters

Published on October 9, 2008 by in Articles

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With many of today’s job seekers applying for new positions online, one important document doesn’t garner as much attention as it should: the cover letter. Most applicants just type out a few quick sentences in an e-mail message, attach a resume and hit Send, assuming that’s sufficient. If you want to stand apart from other […]

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Equipment Financing Hits a Skid

Published on September 29, 2008 by in Articles

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Companies are cutting back on new equipment orders as the effects of tight credit spread. The August survey by the Equipment Leasing and Finance Association shows that new business volume dropped by 14.5 percent, falling from $6.2 to $5.3 billion compared to the same month the year before. The August drop was even bigger compared […]

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Rules of Engagement for Online Networking

Published on September 22, 2008 by in Articles

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Online networking sites have become increasingly popular with career-oriented finance and accounting professionals. These resources allow participants to quickly and easily expand their circle of contacts, share information and keep abreast of industry trends. Executives involved in hiring decisions are finding these online communities to be a valuable tool as well. According to a recent […]

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How to Talk With a Bully at Work

Published on September 18, 2008 by in Articles

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By Richard Gallagher Type "dealing with bullies" in your favorite Internet search engine and you will get nearly a quarter of a million hits. This is no great surprise: according to a recent poll by the Workplace Bullying Institute and Zogby International in late 2007, over a third of employees report being bullied, half of […]

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Housing Slump Drags Down CA Economy

Published on September 2, 2008 by in Articles

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Today’s LA Times article about the broad reach of the housing crisis will get you thinking if you sell to retail. Click here to read the article.

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Key Findings: More than half of employers said it is challenging to find skilled professionals today; Generation Y workers are the most difficult to recruit. Closely mirroring responses from employers, more than half of workers said it is challenging to find a job today. Nearly two-thirds of workers are more likely to try to negotiate […]

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The Slow Death of Financial Forms

Published on August 20, 2008 by in Articles

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By creating a new filing system, the SEC will end its "form-based" habits — and it expects companies to do the same. Click through for the full story on CFO.com

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When seeking to hire a candidate at your firm, it’s critical that you create a well-written job description. This key document establishes the criteria by which hiring managers should evaluate candidates. As the basis for the job advertisement, it also serves as a way to attract the specific talent you need and discourage those not […]

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Is it possible that Sarbanes-Oxley compliance is becoming a little easier? According to a new survey from Protiviti Inc., organizations today are realizing tangible benefits from updated regulatory rules and guidance pertaining to Section 404 of the Sarbanes-Oxley Act that were issued in May of 2007 by the Public Company Accounting Oversight Board (PCAOB) and […]

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From the report commissioned by ACA: "The third-party debt collection industry plays an important role in the U.S. economy. The industryemploys hundreds of thousands of Americans as collection professionals, who collect on past-dueaccounts referred to them by various credit grantors, such as credit card issuers, banks, retail stores,hospitals and other health care services, or by […]

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The 7 TOUCH POINTS OF COMMUNICATION

Published on July 16, 2008 by in Articles

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By Nancy Friedman, the Telephone Doctor Oddly enough, there are 7 touch points of communications that can have you fouling up enhancing a business (or personal) relationship. Do you know what they are? Let’s go over each one; because throughout the day, both in business and our personal life, we all have the ability to […]

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Adversity Breeds Innovation – “e-mmediate” – a blend of EFT and check guarantee that reduces transaction costs and takes the headache out of deliveries Let’s face it. These are tough times for the building supply industry, and most others for that matter. Every dollar on your receivables including cash COD sales is precious. Economic downturns, […]

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If you work with customers on the phone or face to face, are you aware that you have the ability to influence the outcome of that transaction? You are. You can. And you should! The outcome of every transaction and interaction with a customer can be controlled. Below, are six steps or, shall we say, […]

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Despite their best intentions, many workers fall prey to desk clutter. And from behind their towering paper piles, old coffee mugs, outdated manuals and the swarms of unused office supplies, they usually shout out the old adage that "a clean desk is a sign of a sick mind" in self-defense. In truth, most of us […]

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In many respects the women who ascended to large-company CFO posts got there the same way that men do: half were promoted internally and half were outside hires, a split that was constant across the entire Fortune 1,000 in 2007, according to executive search firm Heidrick & Struggles. Some were CFOs of smaller companies, while […]

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MENLO PARK, CA — Executives interviewed recently for the Robert Half International Financial Hiring Index said that, for the most part, staff levels in their accounting and finance departments will remain unchanged in the third quarter. Eighty-four percent of chief financial officers (CFOs) interviewed said they would neither increase nor decrease the size of their […]

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Feeling pressure at the pump, many workers are changing their commuting habits to ease the financial burden of rising gas prices, a new survey shows. More than four out of 10 (44%) professionals interviewed said higher gas prices have affected their commutes, up from 34% two years ago when a similar survey was conducted. Among […]

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Keeping One Foot in the Door

Published on May 30, 2008 by in Articles

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Consulting Appealing Prospect for Executives, Survey ShowsExecutives nearing retirement will be seeking a more gradual bridge to their golden years. A new survey suggests many will be going into business for themselves. Three out of four (75%) chief financial officers (CFOs) interviewed said they view consulting as an attractive segue into retirement. The survey was […]

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Spreadsheet “Worst Practices”

Published on May 30, 2008 by in Articles

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It takes some effort — often a lot of effort — to develop and maintain sound, proper, and effective spreadsheet practices. The spreadsheet’s very ease of use encourages sloppy habits, and even seasoned finance professionals can find themselves falling into bad habits. At its worst, spreadsheet sloppiness, reflected in poor design, difficult manipulation, and lack […]

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Brain Rules for Presenters

Published on May 20, 2008 by in Articles

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SlideShare

                  | View | Upload your own Slide Share presentation by Garr Reynolds at Presentation Zen. Garr focuses on how to attract and maintain attention when presenting in front of an audience. But these rules can apply to any document, email  or phone conversation where you want to attract […]

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15 Customer Service No-Nos

Published on May 19, 2008 by in Articles

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By Nancy Friedman, the Telephone Doctor When it comes to getting customer service, what’s your definition of rude? What unprofessional behavior irritates you the most when, as a consumer, you are interacting with another company? Sometimes, customer service that is perceived as rude is not intentional and often is the result of absent-mindedness or carelessness […]

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Whether you’re an internal auditor, tax specialist or financial analyst, getting ahead – and increasing your marketability – requires staying up to date with professional trends. In the quickly evolving fields of accounting and finance, this can seem like a tall order. Many of the changes for financial professionals stem from corporate governance regulations implemented […]

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Working outside of the office may not be all it’s cracked up to be. According to a recent survey developed by Robert Half, 48 percent of workers polled said their jobs would be more difficult if they worked in a different office as their supervisors. If you work remotely, consider these tips to stay connected […]

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ARE YOU CONNECTED?

Published on April 28, 2008 by in Articles

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Survey: Online Networking Sites Capture Interest of Hiring Managers MENLO PARK, CA — Job hopefuls seeking an edge in an increasingly competitive job market shouldn’t overlook online networking sites, a new survey suggests. Nearly two-thirds (62 percent) of executives interviewed believe professional networking websites — like LinkedIn — will prove useful in the search for […]

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How NOT to Answer a Phone Call

Published on April 18, 2008 by in Articles

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By Nancy Friedman Telephone Doctor Throughout the years, many of our Telephone Doctor® clients have taken the time to jot us a note letting us know about their good and bad experiences, both in person and on the phone. Judging from the amazing number of entries we received for our book Customer Service Nightmares, I […]

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Finance departments are feeling a sharp credit pinch as more customers put off paying their bills. Last month, former IBM and Chrysler Corp. finance chief Jerry York warned CFOs to watch their receivables "like a hawk." His advice at this year’s CFO Rising conference accentuated his dire prediction that the U.S. economy is entering a […]

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Respondents believe most SOX-related changes have had positive impactMore than three-quarters of audit committee members who took part in a recent survey commissioned by the Center for Audit Quality (CAQ) rate overall audit quality "very good" or "excellent," and 82% say it has improved in recent years. The survey offers an unprecedented look at the […]

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Can I Get That to You on Tuesday?

Published on April 1, 2008 by in Articles

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Why tackle today what you can put off until … Tuesday? In a new survey, 57 percent of executives polled by Robert Half said Tuesday is the most productive day of the week for employees. Monday, the second most popular answer, received just 12 percent of the response. Here are some tips to maintain productivity […]

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A good sense of humor can be a professional catalyst. How? Here are a few ways levity can help your career: People enjoy working with you. Using humor is one of the best ways to enhance your relationships with others. Working with someone who’s fun to be around feels good and tends to make the […]

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Payment Fraud on the Rise

Published on March 19, 2008 by in Articles

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In its latest survey of payment fraud, the Association for Financial Professionals found that 71 percent of organizations experienced payment fraud in 2007 and a third of them saw more incidents of fraud compared with the previous year. Read the full story on CFO.com

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York: A Long, Ugly, Deep Recession

Published on March 18, 2008 by in Articles

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Addressing the topic of what boards are demanding from CFOs, York said if he had only five minutes to give his speech, he would tell finance chiefs that: "CEOs and boards are just going to expect you to get these companies through the mess," emphasizing that, "I think this is going to be a very […]

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by Nancy Friedman, The Telephone Doctor Pretend you’re a real estate agent, showing a 5 million dollar home to a nationally known sports star. This sports star and his beautiful actress wife really like the house. If the sale is made…the commission will allow you to buy a new luxury car and pay off a […]

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Common Auditing Screw-ups

Published on March 11, 2008 by in Articles

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CFO.com asked 172 partners at the Big Four firms across Europe for their honest appraisal of their clients’ biggest shortcomings. Fix these problems, auditors say, and audits will go more smoothly, relationships with auditors will improve and, possibly, fees will fall. Click here for the results.

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Almost two-thirds of the respondents think their gender holds them back in their career. Almost 100 percent of the respondents to a survey of women in finance believe that women are being paid less than men for comparable work. The figure, 96 percent of the 259 members of the Financial Women’s Association who took part […]

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“Positive First Impressions”

Published on February 29, 2008 by in Articles

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by Susan Fee  – Note: Susan Fee will be a keynote speaker at the Western Region Credit Conference                        October 15-17, 2008 in Las Vegas,  NV When you watch TV or listen to the radio, how long is it before you to decide whether or not you like the […]

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