CMA Chairman’s Blog: My Outgoing Message, by Michael Fenner, CBA

 

What a year it has been and I can’t believe how fast the time went by…

I was so happy to see the turnout to CMA’s Spring CreditScape this past week. Thank you to those people who were able to attend. If you weren’t able to make it in March, please make sure you attend the Fall CreditScape as I believe it will be worth your time.

I have been truly honored and humbled to serve as the Chairman of the Board of Directors this last year for CMA. I would like to personally say “thank you” to the following people…Mike Mitchell, Kim Lamberty of CMA for their trust and guidance. To Tracy Rosenbach, Jim Morrow, Melissa Kobus the Executive Team, thank you for your leadership and support this last year…it was really appreciated. And to the rest of the Board Members, I would like to show my sincere gratitude for your endless efforts, your committee service, and your ideas presented last year. Thank you!

And last but not least…all of the CMA employees for their support to the Board throughout our service.

I would like to take a minute and point out some of CMA’s accomplishments over the past year:

  1. CMA launched the Fall and Spring CreditScapes – Which focused on a 360-degree look at one particular topic to give it a much more interactive and more focused educational program.
  2. CMA launched the Supplier Risk Group – Which looks at how to evaluate your suppliers to help you manage a different type of risk, one that could be more important that if any one customer doesn’t pay.
  3. The Construction Credit Report was launched as a partnership with Ansonia Credit Data. The report provides information needed to make decisions based on a construction project.
  4. CMA Adjustments (formerly CMA Adjustment Bureau) – received new branding and a new logo to better portray its 133 years in business.
  5. CMA recently moved its offices from Burbank to Glendale, modernizing its workspace.
  6. New Designees earned over last year: 5 CBAs, 1 CBF, and 2 CCEs.

It’s been really exciting to help move our Credit Association forward in a positive direction this year. Please continue to support CMA and our incoming Chair Tracy Rosenbach to increase our membership, improve existing services, add new services, and help CMA continue to be the best Association we all deserve. Let me know your thoughts. I’d love to hear your feedback.

Michael W. Fenner, CBA, is the Credit Management Association Chairman and Manager of Corporate Credit Operations for Beacon Roofing Supply, Inc. He can be reached at 714-321-8187, or mfenner@becn.com.

Attendees Agree: CreditScape Fall Summit Was a Success

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 single speaker.” Another attendee said, “I learned we need to use automation much more. We can start by using metrics.” Several other attendees mentioned that they’ve already recommended this event to a colleague.

Plans are already underway for a 2016 Spring CreditScape and Annual Meeting, March 24-25, 2016 at the Island Hotel in Newport Beach. Details about the event are forthcoming.

Thanks again to all who attended the event!

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

CMA Annual Meeting 2015 Recap

For those who attended the 2015 CMA Annual Meeting, you already know that the panel discussion on securing transactions, keynote on Moving Beyond Business as Usual, and presentation on Understanding Your Communications Style, as well as the networking event with the theme of finding your credit paradise were among the highest rated events that we’ve put on. Additionally, several worthy credit managers, including Michael Fenner, Kimberly Wagenman, Ross Cirrincione and Darrell Horton received prestigious awards at the event.

Whether you attended the event or you didn’t, here are some editorial, pictorial and video highlights of what went on at the event.

Credit Paradise: CMA Announces Schedule For 2015 Annual Meeting

Credit Paradise
CMA Annual Meeting

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 California and Nevada the opportunity to learn about the latest trends affecting the credit profession, growing their personal and professional skillsets,” said CMA president Mike Mitchell. “Last year, we addressed the relationship between the sales and credit departments, and received some of the best feedback scores we’ve ever had from our exit survey. This year, we’re looking to build on that positive word of mouth and create a program to allow attendees to create a ‘Credit Paradise’ in their offices.”

Among the highlights of the education program, Jodi Walker will present the keynote address on utilizing creativity to move beyond “business as usual.” Walker is an award-winning speaker who is known for her high-energy presentations. “The topic should resonate with credit managers, as research has shown that five of the world’s largest economies are currently operating with a creativity gap,” Mitchell added.

“Securing transactions is a hot topic in credit management,” Mitchell said. “We thought we’d take a different approach this year and address the topic in a panel discussion with three expert speakers and a moderator who each have a different take on the subject.” Moderated by Diana Crowe of IAB, panelists for the discussion include Jerry Bailey (NCS), Milene Apanian (Law Offices of Abdulaziz, Grossbart & Rudman) and Rudet Fountain (United TranzActions). “The interactive session will include an audience question-and-answer opportunity, so attendees are encouraged to bring their questions to address the panel,” he added.

Popular speaker Rita Jo Schilling will present a discussion on understanding different communications styles in order to help create lasting relationships with others.

In addition, a designated networking reception (sponsored by D&B), a lunch session (sponsored by AG Adjustments) which honors the achievements of CMA’s members, and several Industry Credit Group meetings will take place at the event.

The Annual Meeting is the largest in a series of in-person educational opportunities offered by Credit Management Association. To learn more about the other sessions and topics, visit www.creditmanagementassociation.org/events or call 800-541-2622.

President’s Post: Trends in Credit Management, by Mike Mitchell

CMA President Mike Mitchell
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 heard about 11 trends in credit management that the Credit Research Foundation has identified for 2015.

• Cash Flow – Cash is King
• Integration with ERP/CRM Platforms
• Credit Cards
• Shared Services Environments
• Credit Scoring/Portfolio Management
• Risk-Based Collection Activity
• Reporting – Business Intelligence
• Blended Scores and the FCRA Hurdle
• Sales/Credit Partnership
• Supplier Credit Evaluations
• Emerging global markets

In order to best meet the needs of the credit managers, CMA is offering programs to address several of these trends.

Sales/Credit Partnership – Gear Up for Profit: Linking Sales and Credit Cycles to Grow Profit

CMA is offering a first-of-its-kind workshop that addresses the challenging dynamic between Credit and Sales, for the first time inviting leaders from the Credit and Sales teams to participate in this ground-breaking approach to exploring how the Credit and Sales teams can work together for better profitability.

Supplier Credit Evaluations – Supplier Risk Credit Group

CMA is launching a new credit group that will focus exclusively on evaluating Supplier Credit Risk. We see an emerging trend in companies tasking the credit department with evaluating the risk and cost of business disruption caused by the failure of key suppliers. CMA plans to support this new functional competency by creating a special credit group that focuses on expanding the credit department’s risk management role to include key suppliers as well as key customers. CMA invites you to attend a complimentary organizational meeting to explore and finalize the benefits and features of a Supplier Risk Credit Group – January 28, 2015, 10:00 am – Noon. Email Larry Convoy for details at lconvoy@emailcma.org.

Emerging global markets – The Global Trade Credit Consortium

CMA is building a unique network of top resource providers for international trade and credit practices, with the goal of helping companies sell internationally by making critical trade and credit resources more accessible, responsive, and accountable. International credit consultant and co-founder Eddy Sumar, MBA, CCE, CICP will leverage the Global Trade Credit Consortium to provide professional guidance to help navigate the complex process of exporting. For more information, visit the GTCC website at http://www.globalcreditconsortium.com.

Which trends are you most concerned with in your business for 2015? I’d love to get your feedback on how CMA can deliver services that will make 2015 the best year yet!