CMA is currently recruiting companies for its new Software as a Service (SaaS) Industry Credit Group. The group will be comprised of interconnected companies that provide cloud computing models in which a third-party provider hosts applications and make them available to customers via the internet, and have a common customer base.
The initial meeting will be a networking event on Feb. 2, 2017 in Livermore, CA. If you’re interested in attending the networking event, please RSVP by January 17, 2017 with Amber Jackson ((702) 636-4323, email@example.com) or Ann Westpy ((702) 903-2643, firstname.lastname@example.org ).
We look forward to a great turnout, and hope to see you there!
On October 13, CMA held its first ever joint construction credit meeting, allowing CMA member companies from different vertical industries who sell to the construction industry to get together to talk about common job accounts. In addition, Chris Ng, Esq., spoke to the group on a series of construction law related topics, including the legalities related to job accounts. Amongst the activities at the event included a discussion of best and worst practices, which really hit home with many of the companies who participated. Thanks to all who attended.
Attention Southern California construction-related companies: if you sell on job accounts, CMA has created an opportunity to meet with credit managers from other construction industry credit groups to discuss current jobs and common accounts.
The meeting will take place Thursday, October 13 at 9:00am. Members of the Aluminum Suppliers, Electric, Glass and Metal, Wholesale Roofing, HVAC SoCal, SoCal Building Materials, Building Materials Manufacturers, Steel Warehouse, are invited, but other companies who have common accounts with those industries are also welcome to join. As a bonus, guest speaker Christopher Ng, Esq. of Gibbs Giden will speak on a construction-related topic. The meeting will take the place of the regularly scheduled October group meeting for those groups.
For more information, contact Diana Escobar at 818-972-5300.
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 sit down with the competition and discuss their customers’ paying habits. To an “old school” individual, this is against every business principle they know. So how do we (and I am including officers and
current members) communicate the advantages when this would involve working with the enemy?
One method is waiting for the opportune time. Recently, a group approached a company owner that lost a great deal of money by not knowing that a bankruptcy was approaching. His pain was magnified when he learned that his competitors were aware of the problem months before and reduced their exposure. They will join the group if they survive.
Another method is owner-to-owner direct contact. Chances are, some member of the group has an owner or executive who knows the right person at the prospect company. A phone call explaining how the group has saved them $$$, reduced money spent on report contracts, lowered write-offs and improved their credit departments efficiency through the Best Practices exchange, carries a great deal of weight.
Finding, vetting and securing new members is a task requiring group members and the group facilitator working together. Keep in mind the selling points that convinced your company to join and apply them to any potential prospects.
The whole of Group participation is far greater than simply the sum of its parts. In your next Group meeting, let us know who we’re missing.
To change successful formulas or brands takes courage. Sometimes it works (Datsun becoming Nissan), sometimes it doesn’t (remember the “New Coca Cola”?). But in this current environment, where you can close or lose a multi-million dollar deal by touching an app on your phone, being passive will leave you behind the crowd.
For that reason, CMA is taking an aggressive approach with its new CREDITSCAPE Summit. CreditScape is unlike any other education activity CMA has ever offered. For one, the topics were created from feedback direct from CMA members about items they need to know. It focuses on only one topic (collections), and covers it thoroughly. If your idea of an educational event is to sit and passively watch a PowerPoint presentation given by someone pushing a product or book, this is NOT for you.
CreditScape will present collection options, not by a vendor pushing their services, but by credit managers who are actually using them so you can hear about their experiences. It will allow you to break into small groups and brainstorm various scenarios and hopefully come up with better ways to run your collection department.
CMA is offering workshops, role playing, a collaborative approach to learning instead of the standard classroom style for the credit and collection manager and their staff.
The event takes place September 17-18 is the Tropicana Hotel in Las Vegas.
Brainstorm with your peers, hear their procedures, tell them yours and then divide into smaller groups and address the issues presented. Leave Las Vegas with some solutions to your collection issues and real-world case studies, ones that you can implement immediately.
All credit professionals are encouraged to look over the agenda for the conference and decide if you’re ready to learn the latest in collections by being a participant, not a spectator.
Last week someone asked me why my company joined CMA. I did not have to think long about why we became a member of CMA, it is all about the access to resources. The number 1 reason we joined was the electrical credit industry group. I have been a group member for over 15 years. The other credit professionals in the group at that time were wonderful, excellent credit managers in their own right, that group made me want to get involved.
I learn so much from participating in the group. I can ask questions and not feel uncomfortable. I am exposed to best practices that I can bring back and implement immediately. I developed friendships with people who understood what I face every day. A commitment of two hours every month helps me become a better credit manager, helps my company protect their assets and allows me to contribute to the growth of the credit profession.
Every month I have my credit industry group meeting on my calendar. It is not something I can afford to miss. I make the time to attend, it’s important to me, my company and the other group members. Contribution to and participation in the group is the key to a successful experience. My contribution is submitting our aging report every month so that the group has access to the most current data available. My participation is coming prepared to talk about new ideas, give insight on processes, and discuss upcoming educational opportunities.
One of the most significant parts of the group is the submission of aging information. The aging goes into the CMA database for access on anscers and in group reports. The contribution of your data is so very important, as it makes the meetings so much more valuable to deal with real-world problems. If you are not submitting your data today, please find a way to do it. There are contacts at CMA that can assist. Talk to your IT person to find an easy and simple way to download the data.
I love my credit industry group. I respect the credit managers that are a part of my group. I hope you find the same enjoyment with your group. If you are not part of an industry credit group today, ask why not. Contact CMA to find a group or even better, create a group for your specific industry needs. Please let me know if I can answer any questions about CMA’s credit industry groups.
Melissa Kobus, CCE, is the Credit Management Association Chairman and Regional Credit Manager for Anixter Inc., based in Anaheim, CA. She can be reached at 714-695-2219, or email@example.com