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Fort Worth, Texas
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Kimberly-Clark Customer Financial Services
Credit Today Online
Credit Today is the premier online portal for trade credit professionals.
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Spotting Risks and Opportunities with Credit Scoring|
High risks are a daily fact of life for this credit management veteran. But, then again, so are promising opportunities. So spotting both are crucial for him. And he's found credit scoring a powerful tool for meeting those responsibilities. Learn what tools this veteran credit exec uses and how they help him cut losses, aid their sales efforts, and find the right risks to take. . . . keep reading
Huge Productivity Gains: Expert Insights Into Remittance Processing Technology|
Applying customer payments in a timely and accurate manner is a key part of the order-to-cash process. Keyed manually into an A/R software module, cash posting can take considerable time. Furthermore, due to lack of information, some payments will be posted on account pending further research (or otherwise tagged to a suspense account or flagged for follow-up). Automated remittance processing systems will greatly reduce the time and labor required to post customer payments and increase the number of postings that are cleared on the first pass. In this article...
. . . keep reading
- A checklist of eight critical issues to consider when analyzing your remittance processes
- A breakdown of the key benefits to automation in each of autocash, EIPP, and credit/debit matching
- The top two factors driving change in the remittance processing arena
- The implications for lock box usage
Use This Chart to Get a Handle on the OTC Process and All Technology Associated With It|
Credit is all about the order-to-cash process, with the emphasis these days on process. It helps to start with the big picture and have a framework, and of course, the "big 3" of that include, credit, collections, and receivables (cash app). But from a strategic and organizational standpoint, there's a lot more detail. And today - when process improvement can make you a hero (or, probably better put, when the lack of it will get you unemployed), it helps to really analyze all that goes on. . . . keep reading
Who's Got Staying Power?|
Plunging oil prices threaten to drag over-leveraged companies in oil, gas and related industries into a vortex of unpayable debt and ruin. For their trade creditors it promises to be a time of both extreme risk and above average opportunity. Back in the 80s when this credit exec was just getting into commercial credit management, his mentor gave him some advice. . . . keep reading
Detecting Bogus Orders--The Smell Test and Much More|
For alert credit management, most fraudulent orders arrive festooned with warning signs. This credit veteran talks about what they are, and then she goes on to detail the procedures that they have established to ensure that even clever fraudsters don't get orders through her organization. . . . keep reading
You Need to Establish Information Pipelines With Customers Taken Over in Leveraged Buyouts|
Tibco Software, Inc. calculated its earnings through the 12 months ending August 31 at $239 million. Vista Equity Partners, which is taking Tibco private in a leveraged buyout, has recalculated those earnings at $378 million. The Wall Street Journal reported that, in projecting this 58 percent increase, Vista factored in "cost savings the buyout would generate." We called Vista is ask what particular cost saving they had in mind. They have not responded. But while the nature of the savings may be vague, the purpose and consequences are perfectly obvious. . . . keep reading
Credit Today Benchmarking Survey: 2014 Unclaimed Property -- Credit Takes the Lead in Handling Unapplied Credit Balances|
We've heard the horror stories of unclaimed property audits and recognize that cash-strapped states are increasingly looking for additional sources of revenue, so we sought to quantify exactly what is going on out there. This survey gathered information on:
. . . keep reading
- What percent of companies have been audited, and of those,
- What percent paid a fine
- What states are doing the auditing (and how often)
- What percent of companies have formal unclaimed property policies
- Who put together those policies
- Any lessons-learned from those who have been through the process
Tech Notes: New Insights for Construction Credit Management and Automated Lien Management|
Credit executives involved in the construction industry face special challenges. Credit risks extend beyond your customer to include projects' physical and financial supply chains. The real risks are obscured unless you can access the Notices of Commencement, Notices of Completion, Mechanic's Liens, and Performance Bonds that are filed on construction projects across the US in each of the roughly 3,000 counties, and that show the true character of your customer and the contractors further up the feeding chain. Here we take a look at some great new tools to help you manage these processes. . . . keep reading
Forecasting Monthly Collections|
End-of-month collections are forecasted at this billion-dollar plus company at the beginning of each month with an average of 96 to 97 percent accuracy. That's been a boon to Treasury's cash planning and a valuable guide for Credit and Sales operations. We explore this forecasting system and extend its creator's invitation to contact him if you'd like to establish a similar system like this at your company. . . . keep reading
A Little Deeper Into a Cash Projection Model|
We spoke with this finance and statistics expert to gain insights to some of the details of his very effective cash forecasting model - how he gathers data, what data he likes most, what his goals are and what he tries to avoid. This is a great tool that he uses to help the Treasury function at his company predict cash levels and thus more accurately determine future borrowing or investing needs. . . . keep reading
Meetings that Work|
While a co-worker drones on about some problem his team is having that has nothing to do with you, you zone out. Staring into space you wonder if you should pretend to take notes, but instead make some sketches for the kitchen upgrade you've been contemplating and start working on a grocery list. Sound familiar? Unfortunately, many of us find this scenario all too familiar. Businesses everywhere force employees to devote considerable time to The Meeting. . . . keep reading
We've had a rash of fraudulent purchases from our branches. Any advice?|
My company is a large HVAC distributor located in metropolitan Chicago, northwest Indiana and southeast Wisconsin. Since February we have had a rash of fraudulent purchases from our branches. The party places a call to one of our branches representing themselves as the owner or purchasing agent from one of our customers. They then hire an outside trucking firm to pick up the order on their behalf. Once the truck drives off the property the driver is to call the phone number of the individual who placed the order for instructions on where to make the delivery. We know this from conversations local police departments have had with the trucking firms. The orders are typically $1200 to $2500 and when we have become wise to a potential fraudulent purchase we call the police who intercept the driver in our parking lot. The police are reluctant to arrest the trucking company as they have been duped as well. Due to the size of the orders the police have not been willing to deploy resources to follow the trucker and arrest the individual receiving the goods. We have had repeated conversations with our branch personnel of potential things they need to look out for such as the pick up being made in an unmarked vehicle, the drivers not wearing company uniforms, purchase orders not matching the company's typical sequence, etc. These conversations have resulted in several attempts being thwarted. I should also note that our company is not alone in being hit as many of our competitors have been hit as well. We have gone to the county sheriff's offices and the state level trying to get help to no avail. We update regularly employees that are allowed to place orders from our customer base. This information is stored within the customer's account on our computer system and pops up each time an order is entered. Each day we convert more and more customers to web ordering that requires a log in and password, but many customers still place orders through our branches and salespeople to make sure they are getting the unit that best fits the application they are working on. I am looking to hear from anyone that may have had prior experiences similar to this and any steps you took to reduce the threat. . . . keep reading