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Penalties for violations of applicable federal or state antitrust laws can include fines, imprisonment, and liability for up to triple damages. How do antitrust laws affect day-to-day credit decision making and business activities? To what extent is pricing and payment terms subject to U.S. antitrust laws? Is it a violation of one or more antitrust […]

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Credit managers, are you involuntarily contributing to this situation by lack of communication? With some customers, getting the purchase order is a long process that involves significant work by your salesperson.  It is easy to understand how frustrating it may be if at the end of a long process it turns out that the company […]

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Get In Balance

I was talking to a friend of mine recently at an industry credit group meeting.   He told me over lunch that he was now working half days.  I congratulated him.  He told me his comment was meant as a joke and that half-days meant he was working 12 hours a day, every day.  He explained […]

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Fishing For Information

In the last week, I have received calls with questions from two different members of our industry credit group.  In both cases, the answer to the question was essentially a click away and I referred the callers to the Encyclopedia of Credit.  As some of you already know, access to the Encyclopedia of Credit is […]

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5 Years Later

Five years ago, I wrote an article entitled “Twenty-Five Tips on Deduction Management.”  This article resulted in several speaking engagements for me.  I ran across this article quite recently, and I was amazed by what I read and by what I didn’t read.  Only 1 of the 25 tips addressed credit automation and more specifically deduction management software.  That […]

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What's the difference?

Like most managers, credit managers are invited to attend numerous meetings.  A friend of mine works for a company where he routinely spends 15 hours a week in what he calls Nice to Know meetings.  These are not special meetings called to address and resolve particular issues or concerns, and the most painful to attend […]

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Balancing Act

A few years ago, a good friend of mine who worked in the automotive aftermarket industry lost his job as a credit manager as a direct result of his management of bad debt losses and DSO.  More specifically, he was fired because, under his guidance, the credit department had not written off any bad debts […]

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