by: Michael C. Dennis This was the question asked in a poll sent recently to CMA members. In my opinion, the answer to this question is: It Depends. If the question was: “Can the sales department help the credit department in its collection efforts?” I would have answered absolutely. It depends on the [...]
Follow-up is absolutely essential to collecting on past due accounts and keeping cash flow moving at every CMA Member company. If you are missing out on an internal tickler system to remind you of follow-ups or relying on software (like Outlook) built for calendaring that does not store your contact history – why not consider [...]
From Larry Convoy – Manager CMA Industry Credit Groups Each member will look for opportunities to bring new companies into the group in 2011-(references on credit applications or faxed requests for a reference are potential members as are companies advertising in your trade journal) Contribute to your monthly report-(provide CMA with an a/r file and [...]
CMA’s current poll “What methods do you use to measure receivables?” is receiving lots of write-ins for the CEI from Credit Research Foundation (CRF) http://poll.fm/27h9q From the CRF: Collection Effectiveness Index (CEI) Definition: This percentage expresses the effectiveness of collection efforts over time. The closer to 100 percent, the more effective the collection effort. It is [...]
At a recent meeting of CMA’s Western Home Furnishings Credit Group, long-time member Sandberg Furniture informed the group that a tax auditor from the State of Texas was currently on site at Sandberg’s office requesting Texas Sales and Use Tax Exemption Certificates (aka Resale Certificates) for all of Sandberg’s Texas customers. According to Sandberg, this [...]
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