CMA Member of the Month, March 2016: EMJ Metals

The March CMA Member of the Month is a company which benefits by simply utilizing the services that CMA offers.

EMJ Metals has been an active A/R information contributor, and its staff are genuinely great to work and speak with. EMJ also uses CMA’s reports and other CMA services.

EMJ Metals is one of CMA’s longest standing members, and we appreciate the relationship that CMA has with David Schulten and his team. On behalf of CMA, we thank EMJ for its participation, and we look forward to their continued support.

Companies like EMJ who submit their full aging get 25 free B2B NACM National Trade Credit Reports (and discounts on additional reports), the ability to support their good customers (and report their bad ones), time and money savings by not having to respond online to RFIs or Group worksheets – their trade data is automatically added by anscers, assistance in strengthening the CMA & NACM Databases, and more. The members who tell us that they get the most out of CMA are the ones who actively participate and contribute.

Members of the Month are nominated by CMA members, Group members, volunteers and CMA staff to highlight those members (or member companies) whose engagement with CMA has helped improve the overall credit profession for others.

For more information on how you can participate in any of the areas mentioned within this article, or to nominate any members for this honor, contact Diana Escobar at descobar@emailcma.org or 818-972-5300.

The power of “WE” (not just “ME”) submitting your company’s full A/R, by Michael W. Fenner, CBA

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 contribute, your company will have an advantage. Besides, with today’s web-based technology, it’s very simple, fast, and secure to do. Let’s all support Credit Management Association and contribute our full A/R’s so we can all make better business decisions.

Below are a few bullet points as to the value of submitting your full A/R:

  • Reference Information – Trade experience will be available to you right away. No need to wait for faxes any longer.
  • Supports NACM and CMA – This contribution will support the National Trade Credit Report (NTCR) as well as members at Credit Management Association.
  • Easy to Contribute – Most of us already submit to our Industry Trade Groups. You can use the same format such as Excel to contribute your full A/R and send it right off to CMA.
  • Informed Decisions – You will be able to approve credit applications in a timely manner with current up-to-date information. This will also help you with updating accounts, when those big orders come in at the 11 hour. This happens to all of us.
  • Supports Well Established Customers – Members will be able to support their good paying customers and everyone will know who is consistently paying on time.
  • No Need to Respond to RFI or Group Lists – This will save time and money as contributors’ information will automatically be added to the Anscers database. This is a nice feature. Additionally, this will also strengthen your Industry Credit Group.
  • Reports Delinquent Customers – Members will know who isn’t paying regularly month in and month out.
  • CMA President Mike Mitchell has offered an incentive – Beginning October 1, members who support the NTCR program with their monthly accounts receivable contributions will get 25 free NTCR reports annually and receive a discounted price of $9.95 per report over and above those 25 free reports. To get complete details please go here.

And, as always, Credit Management Association is here for YOU! Make sure you talk to your leaders to see if you can take advantage of this benefit. You can’t go wrong. Thank you for taking a few minutes out of your busy schedule to read this blog.

Please remember we need you to support “your” credit association when you can and as always “thank you” for your support. I encourage you to send in any ideas to improve your credit association. Let me know your thoughts. I’d love to hear your feedback.

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

What Credit & Collections Professionals Can Learn from Football Coaches, by Mark Wilson

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 departments, I’ve found that most companies spend most of their time focusing on DSO and maybe how much they wrote off as uncollectible. Don’t get me wrong, tracking how fast you get paid is important. If collecting money was a game, DSO would be the score. But if that’s all you’re measuring, you’re not properly leading your team.

Let’s think about this from the perspective of a football coach. When evaluating a team’s performance, coaches look at many other stats beyond the final score. Tracking things like rushing yards, turnovers, quarterback ratings, third-down efficiency, help identify areas that need to be improved upon as well as potential opportunities. All of these ultimately feed into the final score and the overall success of the season.

Within accounts receivable, we need to go beyond DSO. Tracking underlying metrics allows companies to evaluate individual performance, uncover potential process improvements, gain valuable insights, and of course leads to an improvement in DSO.

If you’re interested in diving deeper to improve your team’s performance but are unsure of what metrics to track, this AR Analytics Playbook can provide some insight on six simple, yet effective metrics that every financial executive should be tracking. By leveraging these metrics, your company is guaranteed to improve customer relations, reduce administrative costs, and get paid faster.

I encourage you to learn more by downloading the AR Analytics Playbook today.

Mark Wilson, a former CFO, is the President of TermSync, a cloud-based accounts receivable software company owned by Esker, Inc.

Why A/R Analytics Matter, by Mark Wilson

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 sales. Why? For multiple reasons. Analytics can provide any business area with information that helps them stay competitive, streamline processes, hold their team accountable, and keep their customers satisfied.

Credit and collections teams should be utilizing this same type of technology to track metrics relating to their business area, however two obstacles often arise: (1) many credit professionals don’t know this technology even exists, and (2) those that do know it exists assume that implementation is an expensive and grueling process that requires a lot of IT support.

So, what if you had an easy way to go beyond DSO and track metrics that will transform your company’s A/R into a strategic and value-driven operation? Would you be interested? What metrics would matter? What if there was a free trial of a software that would let you do this so that you could decide if this was a valuable tool?

My company, TermSync, offers a cost-effective accounts receivable software, that is easy to integrate and use. By offering a program exclusive to CMA members, we’d like to make it even easier for you to track important AR metrics. CMA members can use TermSync for FREE until the end of 2015 if you sign up before September 30.

As a Preferred Partner with NACM National, the TermSync team has come to realize how innovative NACM members are and how much they really care about improving their credit and collection processes, especially those in the CMA chapter.

If you’re interested in learning more, join our free webinar on Thursday, September 10, at 9am PST surrounding The 6 Metrics You Should Be Tracking to Guarantee Success. Register here!

Mark Wilson, a former CFO, is the President of TermSync, a cloud-based accounts receivable software company owned by Esker, Inc. Mark will present this topic at his webinar on September 10. Register here.

Collections in the Digital Age: Technology, Outsourcing, and Compliance, by Eddy Sumar

‘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 at the landscape of debt collection, we can see three things that beckon our attention: technology, outsourcing, and compliance.

These three areas have a great impact on people on all sides, creditors, intermediaries or third parties, and debtors. Let us look at each of these three areas separately.

Technology: Technology is a blessing, but it has side effects. When technology is employed, people lose their jobs. Technology leads to higher productivity at the beginning of the process, but it has long-term negative consequences. Digital technology, machines and robocalls do not satisfy the desires for human interaction. The fact is that technology should enhance the human factor, not diminish it. Technology should help us humans to produce more so we can have more time to interact and build the goodwill and loyalty. So the short-term need is to curb the negative effects of the technological factor in collection.

Outsourcing: Another factor that complicates collection is the outsourcing of debt collection to companies that do not understand the power of customer service and preserving customer and debtor goodwill. The calling-center mentality in collections is unempowered. It follows a certain script and cannot deviate from it. This railroad track mentality usually leads to derailment. The short-term benefits to the bottom-line will ultimately lead to long-term consequences that both eat the top-line and erode the bottom-line.

Compliance: As highlighted in the recent reports from the Federal Trade Commission (FTC) and the Consumer Financial Protection Bureau (CFPB), consumers are being hounded by unethical collectors and unscrupulous collection agencies. These dial for money at all cost, intimidating the debtors with lawsuits and other methods that convey the thought of threatening their livelihood and dignity. To them, it is the money that counts, not the individual. To them, the debtor is totally at fault and they approach the debtor in a manner not fit for human dignity. The result is that the reputation of collectors and the agencies they work for are negatively affected. They become something to fear and avoid. The good news is: the collection industry is still filled with good law-abiding collectors. But unfortunately, it’s the bad apple that corrupts the whole bunch; the little poison that makes the refreshing glass of water on a sweltering day undrinkable. With technology the offense could easily be amplified. Bad collectors tend to hide behind their technological gadgets and screens, thinking that they can never be found in cyberspace. This new digital landscape allows bad collectors to abuse debtors, hurling at them every insult, thinking that the path of offense leads to collection success.

All of the above issues highlight the significance of compliance, which is compliance with existing codes and regulations, but above all compliance with the codes of human decency.

So, how can a company thrive in an environment of constant technological change? How can a company outsource its collection function without affecting the long-term profitability? How can a company be compliant?

The answers lie in a simple acronym: COLLECTOR.

The word ‘COLLECTOR’ embodies certain key qualities that need to be present whether a company pursues internal or external collection. If these qualities are pursued, then compliance issues will disappear. And if a company outsources to a third party to pursue its collection function, then the third party should have strong ethical standards that highlight the human factor. Here is the acronym:

C: Compassion, Connection, Communication, Courtesy, Customer-centric, Common sense

O: Options, Overcoming obstacles, Open-minded

L: Listen! Listen! Listen!

L: Learn! Legally-minded

E: Empathy, Education, Experience, Expertise, Excellence

C: Collaboration, Cooperation, Compliance

T: Teamwork, Targets, Timelines

O: Organization

R: Respect, Resolution, Results, Regulation

The above acronym highlights the human dimension of collection, not the technological and digital. It starts with the ‘C’ of compassion. Yes, collectors should show compassion to the debtor, especially in consumer transactions. Collectors need to connect in order to collect. Making that connection by building rapport is vital. Two-way open communication hallmarked by courtesy is paramount. Furthermore, a customer-centric approach is crucial in every collection call. I believe that collectors should always put on the customer service hat when they engage in collecting a debt. Simply put, it is common sense that should rule in collection.

Next, we see the ‘O,’ that opens the doors to options and alternatives. Collection is not a black and white approach. It should not be either / or. Collectors should work with the debtors to find the options and overcome the obstacles. Collectors should be open-minded throughout the collection process.

The first ‘L’ underlines the significance of listening. The key function for a collector should be to listen—listen to the debtor, listen to the debtor, listen to the debtor, listen to common sense. It is through listening that collectors move to the second ‘L.’

The second ‘L’ is a natural by-product of listening. When collectors listen, they learn, they go beneath the surface to see the unseen and the hidden. When they listen, they find the options that are practical and relevant. And yes, collectors should be legally-minded. They need to know the law, abide by the law and respect the law. Listening leads to the next letter ‘E.’

The ‘E’ reminds us of empathy. And empathy will make the collector’s job more exciting. Empathy humanizes the process; it allows the collector to walk in the debtor’s shoes—to feel, see, and experience the world from the debtor’s perspective and through the debtor’s eyes. Empathy leads to education that equips the collector with the experience that builds the expertise needed to show excellence in handling the collection process.

The next letter ‘C’ puts the spotlight on collaboration and cooperation. I read a quote that says: “If you want to be incrementally better: Be competitive. If you want to be exponentially better: Be cooperative.” So, for collectors to be better, to feel better, and for debtors to be better and feel better, they all need to cooperate and collaborate. Collaboration that reflects all of the previous ingredients will lead to compliance. Ethical and moral collectors that embody humanity and exercise their function with integrity and dignity cannot help but be compliant.

Now, the ‘T’ introduces teamwork that adds the flavor of joint effort and togetherness. When teams come together, they have a goal, a target to achieve. And with targets comes timelines. Thus, the collection process has an objective to collect in a timely manner to ensure the timely cashflow of the creditor while helping the debtor to be released on a timely manner from the burden of debt.

For collectors to really be successful they need the ‘O’ of organization. Organization allows the collector to handle the workflow with ease and proficiency. Organization allows the collector to become efficient and effective.

The final letter ‘R’ reiterates the importance of the human factor. Respect is a human need and collectors should show it at every step in the collection process. In addition to respect, collectors should never forget that collection is about resolution, resolving the issues, dissolving impasses and finding the options that lead to results. All should be done with dignity and decency under the vigilant eye of the law and regulations.

Just imagine collectors who exemplify the above! Collections, collectors will become words that elicit admiration and appreciation.

The human approach in collections will yield greater results than the hard-nosed and hardliner approach. Good, ethical, and law-abiding collectors are guides. They guide their debtors through the collection process leading them to win-win solutions. They steer them in the direction of resolution keeping the goals in sight, while showing understanding and empathy, maintaining initiative, and demonstrating high integrity and strong discipline. They allow themselves to be educated by the process and by the debtor in order to reach the destination without victims and injury.

From the above, we can see that collection is a multi-disciplinary process combining among many things a human approach that reflects knowledge of psychology, anthropology, sociology, negotiation, time management, organizational techniques and a host of functional skills needed in the collection field. To collect is not just about the moment, it is about the future. Though the digital age is here collection will always be a human function.
Eddy A. Sumar is the President & Founder of ERS Consulting Services. He is also the director of education and community outreach for CMA, and will be speaking at the upcoming CreditScape Fall Summit. He can be reached at 909-481-9869 or ealberto@aol.com. 

What are the benefits of contributing your company’s full A/R to CMA?

It’s easier than you think

 

Are you looking for an additional incentive to get your slower-paying customers to pay faster? Here’s one more: by submitting your accounts receivable data to Credit Management Association, you can positively (or negatively) affect your customer’s payment history, as the information is aggregated safely and securely with all other participating NACM affiliate information into the NACM National Trade Credit Report.

In your busy workplace, credit requests are constantly coming in, and it takes time to do the research to fill them out. By submitting your A/R to CMA electronically, your credit department operations will be more efficient and you will benefit from the collective results of other like companies.

Within your vertical market, the more information you submit, the more complete the reporting, and in turn, the better equipped you’ll be to make business decisions based on extending trade credit. But to give you further incentive to submit your full A/R (other than creating an additional collections technique and saving time), here are some additional benefits.

  • Data submission is done over a safe and secure server, so you can be sure that your data doesn’t get into the wrong hands.
  • Thousands of companies like yours nationally contribute data to the database, accounting for more than 12 million lines of trade data, creating a greater likelihood you’ll find information about the companies you’re looking for.
  • Your actions can help reduce fraud in your vertical market.
  • Your actions support the NACM Credit Community.
  • Data contributors receive 25 free NACM National Trade Credit Reports annually.

We appreciate your support, as CMA aims to provide the most complete data to help guide your business decisions.

What are you waiting for? Call CMA’s Member Relations Department at 951-672-0581 and begin contributing now!

How More Data Can Help You Save Time and Money, by Larry Convoy

I don’t know about you, but I’m all about doing things as efficiently as possible.  Efficiency saves me time and money, and allows me to get more things accomplished. Sometimes I have to do an extra step or two at the beginning in order to implement the efficiency, but when I do, I know I’ll reap the benefits in the long run.

At this month’s group meetings, all members will be asked to fill out a short survey expressing their company’s position on contributing their AR to the CMA and NACM data bank.  The survey should take less than 2 minutes to complete, and your answers could provide an opportunity to save time and money.

When I first started working at CMA, a time when Ronald Reagan was President and the Clippers were actually the worst basketball team in LA, there were 2 options for contributing data. The first was a tape with rigid guidelines that had to be in one format. The second was OCR, drawing little circles in boxes to indicate what the balance, aging and terms were. Neither were user friendly, and it was difficult to get companies to provide a second submission. The incentives were not very appealing either.

Today, you can conduct business from your cell phone, the Kings are going for their second Stanley Cup and contributing AR can be done from virtually any computer system.  The benefits have improved as well: you will save time by never having to answer an RFI nor fill out a past due or meeting review report. You will save money by having an industry-specific data bank at your disposal 24/7, reducing your dollar commitment to third-party reporting agencies.

What we used as our sales pitch in the early ‘80s still applies, “To get information, you have to give information.”  It has just been made easier and more beneficial to you and your company.

Encourage your management to get on board.

Sincerely,

Larry Convoy
Supervisor-Industry Credit Groups
lconvoy@emailcma.org
818-972-5323

A Complete Picture, by Larry Convoy

I recently sent a letter out to CMA’s group leaders and volunteers for the upcoming year talking about the biggest challenges we’ll face over that time period.

I told them that this year holds many of the same challenges that commercial credit grantors faced previously with the added pressures to industries affected by the California drought and the horrible winters throughout the country.

Our belief at CMA is that the major component of a successful Industry Credit group is “member participation,” both online and by attending the meetings/conference calls.

For the 3rd consecutive year, we have been able to revitalize several Industry Groups by getting more members to contribute their A/R to the CMA data bank. This industry-specific data has increased the information on the anscers report which resulted in providing a more complete picture of the vertical markets that they participated in.

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

  • NEVER have to respond to RFI’s, as the system will automatically look for your trade information
  • NEVER have to fill out their Past Due Report or Meeting Review Report, as CMA will automatically extract your information
  • Receive an additional 10 FREE NACM credit reports, bringing your total to 25/year
  • Create an industry-specific data bank that can be accessed 24/7

We encourage all group members to contribute. It will save them time and can result in a reduction in any third-party credit reporting contract they have.

An increased data bank, timely alerts, comprehensive RFI’s, packed meetings, engaged members and interesting best practices discussions make for successful groups.  A successful group will have the most complete information and will save everyone $$$$.

Feel free to call upon me throughout the year to assist in any way I can. I want the groups to be as successful, and as complete, as possible.

Sincerely,
Larry Convoy
Supervisor-Industry Credit Groups
818-972-5323
lconvoy@emailcma.org

Preventative Maintenance For Credit Groups – Larry Convoy

Warning Lights

Credit groups like automobiles have warning signals when something is not operating as it should be.  Having just seen my own car’s dashboard light up like a Christmas tree due to a worn power steering belt, I think being aware of the signs and a little preventative maintenance might keep your credit group running for many more years.

Reports are FLAT – Are group members just entering the same accounts monthly on your Past Due /Meeting Review reports.  Is the company that filed for bankruptcy in January or the business that closed its doors in March still being reported?  Remind them that they should be adding new accounts and deleting expired ones each month. One solution is to contribute their full accounts receivable to CMA, set the reporting parameters (for Past Due) and let CMA do the rest.

Attendance STALLING – With www.anscers.com providing instant information, many feel attending the meeting is not necessary. Members must be reminded that meetings support the online data. Meetings give you access to professionals who know who to call in AP to collect, members can explain how to file a lien or small claims action and can share other best practices that can save your company $$$. Our speaker program is a great resource to educate. Make each meeting a learning experience.

Membership needs TUNE-UP – Groups used to grow by adding companies selling common products (steel groups add steel manufacturers). With businesses consolidating, moving offshore or just closing up, consider adding companies selling the common customer. Our Door and Window Network has recently added companies selling hardware, different product but common customer. Look at your customer, what other types of vendors are selling them.

Let’s use the last 4 months of 2011 to refresh tired reports, call absentee members and think outside the box for group expansion. Spread the idea that one trade line reported, one comment at a meeting or alert from a new member could make a significant impact on your company’s bottom line and your job.

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CMA Poll Results – How Many Years In Business Credit?

Click to Enlarge

With 424 responses this months CMA Poll has the highest response rate and comment rate of any poll we have published. 53% of the respondents have been in business credit over 20 years.

How many years have you been in business credit?

  • Almost 2 years 2% 10 votes
  • 2 plus to 5 years 6% 25 votes
  • 5 plus to 12 years 15% 64 votes
  • 12 plus to 20 years 23% 98 votes
  • 20 plus to 30 years 33% 140 votes
  • 30 plus years 20% 83 votes
  • Other 1% 4 votes

Poll Comments

  • Thomas – 4 weeks ago

     lmao, Not too many old Credit Managers.

  • F. Scott Wilson – 4 weeks agoThis is interesting. Nearly two-thirds of the respondents so far have more than twenty years’ experience in credit, and a scant 5% have five or fewer years under their belts. It sounds like our profession could use some active recruitment of beginners, who will eventually get the experience to follow in our footsteps. Twenty years of experience, assuming you didn’t get into credit right after high school, is right around the mid-point of a career, just about halfway to retirement, and it looks like there isn’t a lot of bench behind us….

  • Deb – 4 weeks ago

    Thomas, Thomas, Thomas…that’s because only the good die young! I agree with F. Scott Wilson though. It’s an unusual bred who can be successful long term here at least with construction credit as the burnout rate with the last couple of years is pretty high! I’m always encouraging my folks to attend the seminars and/or webinars (or any other ‘inars ) 🙂 as well as take some business law classes if they don’t have that as part of their education. You can not be too well informed and today’s successful credit manager has to be a coach for their customer base as well. The better informed and educated we can make our customers, the smoother our job becomes.

  • Will – 4 weeks ago

    Very interesting indeed .. wondering what the results will be for years of service with the current employer.

  • Lee Clutter, CBA – 2 weeks ago

    I have been in the Credit Biz for 34 years. Very few of us dreamed of becoming a Credit Professional when we started working. Our unique characteristics (both +and -), our business ethics and our ability to work with all sorts of people resulted in a “win-win” for Sales and “on time cash” for the Company (collection efforts/DSO/Percentage Current).

    Will, I have been at SMART for 7 years.

  • Jackie – 2 weeks ago

    Never thought I would be in credit and here I am 8 years later. I am still happy with this field and starting my further education so I can continue in this field

  • Paul – 2 weeks ago

    I think the poll didn’t reach enough people doing actual collections, AR and credit analysis. My guess is that mostly managers received the poll, which skews the results. I have 30+ years experience and 13 with my current company.

  • jules – 2 weeks ago

    I have been in credit for 30 years and I love it. I have been with the same employer as well. Times have changed, technology has gotten better every year, and it makes our jobs so much easier these days. It sure beats the old days, we used to add up a green bar report to get a total past due list then type it on a typewriter.
    Never a dull moment, and I have the best staff anyone could ask for. I am a lucky dog.

  • Dina Amadril – 2 weeks ago

    Hi Paul – We sent this poll to all users on anscers.com which generally includes more than the manager at the company.

    Not all CMA members have multiple users on anscers so we are going to have a skew in the results anyway – but the way we see them coming in there are not too many new (under 5 years) to credit.

  • Ralph – 2 weeks ago

    I find that there aren’t as many opportunities in Credit & Collections as in the past. Technology most likely plays a roll as it allows each of us to do more than in the past. My own experience is that our profession is not as valued or respected as it was in the past. Protecting assets and reducing losses isn’t as important as posting revenue at any cost and rationalizing the losses. This is the same mindset that caused the housing debacle and has led to the current state of the economy… And it doesn’t appear that any lessons have been learned!

  • Roy K. Carpenter – 2 weeks ago

    Looks like it’s time to start hiring again.

  • Steve S – 2 weeks ago

    I’m not jumping to the conclusion that not many new people are in credit based on this survey. It may suggest not many new managers as these emails typically go to a select/narrow view which are primarily managers and manager in most fields typically require experience.

  • Brenda H. – 2 weeks ago

    I agree with Ralph, I have a GM who won’t write off debt that is even 5 years old. I guess he wants the company to keep paying taxes on revenue that we will never collect. I have been in collections for 19 years and I have never worked for a company who won’t write off debt that you have exausted all sorces to locate people and companies that have gone out of business and / or you can not locate. It is fustrating and rediculas, but I can’t get him to change his mind…

     

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Kudos to CMA’s Accounting Department

Recently, CMA’s office supplies vendor held a contest to recognize its clients’ accounting departments. Diana Escobar, CMA’s Operations Administrator in Burbank, submitted the winning essay describing why CMA’s accounting department deserved the prize. Here is a picture of CMA’s Accounting Department enjoying their reward – a free lunch provided by Ron Lasley and Cathy de Leon of Economy Office Supply (Cathy even brought home-made cupcakes!).

CMA's Accounting Staff - click to enlarge
Pictured from left to right: David Macomber, CPA (Vice President and CFO), Cindy Briceno (Accounts Receivable), Edgar Velasquez (Accounting Clerk), Michael Hansen (Systems Administrator), Clara Lucas (Accounts Payable), LaDeva Shaw (Adjustment Bureau Bookkeeper), Cheryl Lloyd (Senior Accountant), and Pratana Thammasatit (General Bookkeeper).

On behalf of the entire staff of CMA, I would like to take this opportunity to thank the folks in the Accounting Department for all they do to keep us running, and kudos to Diana Escobar for taking the initiative to write an essay recognizing their extraordinary efforts. Economy Office Supply published Diana’s winning story in their own online newsletter:

Winning Story for the Accounting Dept.:
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.

CMA’s Accounting Department consist of 8 individuals including the CFO bookkeepers and IT personnel who handle everything and anything that has to do with money and programming. These 8 people have been the longest standing employees for CMA with more than 100 years combined and one person having more than 30 years of experience working for CMA. They handle all accounting for our other remote locations as well. Everything goes threw them and they are very strict individuals who work very hard for the company with very little recognition.
CMA is an association with a major focus on our members we hold a lot of functions, seminars and events for the members to network. Plenty of times departments are invited to join in on the events but unfortunately the accounting department hardly ever goes as there is always a reason to stay behind and run things smoothly.

I believe CMA’s accounting department deserves some type of recognition and know that we [everyone else at CMA] appreciates them for their hard work. I hope to hear from you that our Accounting Department has won as they deserve the lunch away from the office and especially deserve the recognition.

Respectfully,
Diana E.
CREDIT MANAGEMENT ASSOCIATION

More pics from today’s lunch:

Accounting Department and Economy Office Supply
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