Credit Management Association» Press Releases

New Business Credit Report Combines Data from Major Providers

Dina Amadril — Wed, 18 Apr 2012 16:01:47 +0000

anscersX Combined Business Credit Reports offer easy access at a reasonable cost for data from Dun & Bradstreet, Equifax, Ansonia Credit Data and Credit Management Association on one report.

April 18, 2012 – Burbank, CA – In response to requests for easier access to information and a growing preference for transactional reports over credit reporting contracts, Credit Management Association™ (CMA), in partnership with the Trade Information Exchange TM (TIE), has launched the anscersX Combined Business Credit Report.

“CMA’s membership represents many small to medium sized companies,” says Michael Mitchell, President of CMA. “They are requesting comprehensive information on potential and existing customers at prices that fit their budget. anscersX Reports combine data from major providers giving them a more complete picture of their customers on one report.” CMA Members appreciate the ease of access to data from multiple providers without contracts. Diego Jimenez, Credit Analyst, Accuride International, Inc. agrees, “I really like that there is more than one provider on one report.”

Combining data from D&B, Equifax, CMA and Ansonia Credit Data is a unique approach developed by the Trade Information Exchange. “We put a lot of effort into combining the data from multiple data sources in an easily understandable way,“ offers Robert Shultz, Vice President of Marketing and Strategic Partnerships at TIE. “Additionally, on the anscersX Report we have introduced a combined credit score incorporating data from Equifax, Ansonia and CMA.”

The anscersX Report is helping credit departments with limited time and resources gather credit information quickly. “It is worth it to get an answer in minutes as opposed to calling all the trade references on a credit application,” says Mary Donaldson, Office Manager, Worthen Equipment Inc.

The anscersX Combined Business Credit Report is available on a transactional basis online by registering on CMA’s services site anscers.com. Pricing is $51.95 or less depending on the data sources you choose. There are no contracts, no minimums, no hassles and instant access. Judy Bennett, Credit Manager, Brown-Strauss Steel likes the ease of use, “I have pulled several anscersX Reports so far and have been pretty happy with the results. We will continue to order anscersX Reports.”

“CMA Members tell us that maintaining multiple contracts with providers can be time consuming and expensive. We needed to make access to information easier and less expensive by offering a one-click combined report,” shares Michael Mitchell. “anscersX Combined Business Credit Report attempts to solve that issue.”

Terrence A. McCraw, CCE, Greenheart Farms, Inc. reports, “Glad I found the new anscersX Credit Report! It’s a quick way to pull together independent credit data from multiple data sources. All in a single search. It’s priced right too!”

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About Credit Management AssociationTM : Credit Management Association (CMA) is a non-profit association that has served business to-business companies since 1883. CMA helps credit, collection, and financial decision-makers get the information and support they need to make fast, accurate credit decisions. In addition, CMA assists insolvent companies with workouts or liquidation through cost effective alternatives to bankruptcy.
Contact: Michael Mitchell – mmitchell@emailcma.org – 818-972-5340 CreditManagementAssociation.org
anscers.com

About Trade Information ExchangeTM:Trade Information Exchange (TIE) provides trade credit report products and services for the manufacturing, distributing, and construction industries. With TIE, the promise is faster, less expensive, more accurate, industry-specific credit information on companies. We have years of industry-specific experience and a small-company attitude toward customer service.
Contact: Robert Shultz - bob@tradeinformationexchange.com – 805-520-7880
www.tradeinformationexchange.com

Accounts Sent To Collection Agencies Set New Record

Dina Amadril — Mon, 01 Mar 2010 16:56:10 +0000

The Commercial Collection Agency Association (CCAA) reported that its members received a record volume of business-to-business accounts for collection in 2009.

Emil Hartleb, Executive Director of CCAA reported that in 2009 CCAA members received $17, 762,139,514 in accounts placed for collection.

This represents an increase of 33.4 percent over 2008. Account placement in 2008 held the previous record, $13,311,932,553.

Hartleb pointed out that the gain in placement for the Fourth Quarter of 2009 compared to the same quarter in 2008 was particularly strong registering a gain of over 48 percent. He indicated that the problems in the economy’s business sector are not behind us yet, particularly for small and medium sized businesses.

In addition to reporting their account placement statistics, members are surveyed quarterly on their outlook for account placement and the collectability of that placement. Hartleb stated that in the survey conducted for the Fourth Quarter of 2009, 70 percent of CCAA’s membership believed that a lackluster economy, marked by high levels of account placement and declining collectability, will continue for at least the next six months. This is an increase of approximately 27 percent from the Third Quarter Survey where 55 percent of the CCAA membership believed that account placement would continue to rise and collectability decline.

The Commercial Collection Agency Association (CCAA) reported that its members received a record volume of business-to-business accounts for collection in 2009.Emil Hartleb, Executive Director of CCAA reported that in 2009 CCAA members received $17, 762,139,514 in accounts placed for collection.This represents an increase of 33.4 percent over 2008. Account placement in 2008 held the previous record, $13,311,932,553.Hartleb pointed out that the gain in placement for the Fourth Quarter of 2009 compared to the same quarter in 2008 was particularly strong registering a gain of over 48 percent.He indicated that the problems in the economy’s business sector are not behind us yet, particularly for small and medium sized businesses.In addition to reporting their account placement statistics, members are surveyed quarterly on their outlook for account placement and the collectability of that placement. Hartleb stated that in the survey conducted for the Fourth Quarter of 2009, 70 percent of CCAA’s membership believed that a lackluster economy, marked by high levels of account placement and declining collectability, will continue for at least the next six months. This is an increase of approximately 27 percent from the Third Quarter Survey where 55 percent of the CCAA membership believed that account placement would continue to rise and collectability decline.

CMA Survey Quoted in LABJ Article

Dina Amadril — Tue, 10 Nov 2009 17:34:25 +0000

“Just last week, the Credit Management Association of Burbank released its third quarter survey of 800
credit managers across the western United States, and 64 percent said their collections of trade credit
remain no better than fair. Worse, 74 percent see no change in the near future.”

From LABJ article:

Small Businesses Need Party Favors

By CHARLES CRUMPLEY 11/9/2009

Download full article: labj_110909

Nine Critical Steps To Anticipate & Plan For Economic Stress

Dina Amadril — Tue, 10 Feb 2009 17:45:58 +0000

Press Release: CMA Offers Tips, Tactics For Hard Times
Burbank, CA – As more and more businesses confront the devastating impact of the recession, executives can take immediate and specific steps to reduce the damage and stave off the worst outcome of all, bankruptcy.

“Pain is inevitable in this economy,” according to Mike Mitchell, President of the Credit Management Association, “but in many cases the most dire consequences of that pain can be anticipated and even avoided. Businesses which plan for and stay several steps ahead of the curve are far more likely to come out of the recession healthier. The benefits of taking action early will serve the business, its employees, its customers and the economy.”

Mr. Mitchell and Mike Joncich, who heads the CMA’s division dealing with bankruptcy and liquidation, agree that nine basic steps must be taken as early as possible.

Recognize the widespread impact of the recession – you are not alone. Too many executives react to bad times by blaming themselves. They try to hide from the problem or avoid hard decisions. It is far better to recognize that the down economy is hurting everyone and face up to the facts early.
It will probably get worse before it gets better. Even though most experts agree that the recession has not yet hit bottom, business leaders tend to rely on hope rather than planning for even more difficult times.
Do not procrastinate. Even in the face of overwhelming problems, solutions exist. Those solutions will not appear out of thin air – they will emerge from
good planning and long-term thinking.
Keep communications wide open. It is absolutely essential to communicatedirectly, honestly and frequently with customers, creditors, employees and bankers. Each of those groups will welcome honest communication and all of them are too likely to rely on guesses or bad information if executives don’t provide them with an accurate picture.
Talk to your bank about restructuring loans. This will ease the pressure and it will also put you in position to take advantage when the tight credit market eases.
Work with your employees. By getting a commitment for more work or a short-term reduction in compensation, you can insure continued employment, increase production and build loyalty and dedication in your workforce.
Negotiate with vendors. You can extend payments or modify existing terms to insure that your vendors get paid something and become partners in your success.
Get maximum return on Accounts Receivable. You may be able to tighten your terms, eliminate discounts or strengthen your collection systems to improve your cash flow.
Seek equity partnerships. When you’re doing all you can to maintain and strengthen your business, you become a sound investment. If you’ve taken smart steps to anticipate economic danger, your business is a far more attractive prospect for investment.

“Taking these steps now is by far the best course available to most business leaders,” says Mr. Joncich. “Hiding from the problem or waiting until the last minute is the worst choice. Delay is the enemy, action is the ally.”

CMA, the nation’s largest regional professional credit association, delivers a variety of business credit services to large and small companies across the full spectrum of commercial enterprise. CMA members receive education, support services and critical information to meet professional standards and accreditation. In addition, the Association also assists insolvent companies with workouts or liquidation through cost-effective alternatives to bankruptcy. CMA has provided business credit services and support in the western U.S. since 1883.