Credit Today is the fastest growing publication in the credit field, favored by more and more top credit executives. We cover the world of business, or trade credit, with concise, yet in-depth, reporting. We also publish the most in-depth salary survey in the industry, covering all major credit positions.Credit Today is the fastest growing publication in the credit field, favored by more and more top credit executives. We cover the world of business, or trade credit, with concise, yet in-depth, reporting. We also publish the most in-depth salary survey in the industry, covering all major credit positions.   
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Fort Worth, Texas

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Credit Today newsletter

Welcome to
Credit Today Online

Credit Today is the premier online portal for trade credit professionals.

This web site and all the resources within are for Members of Credit Today Online.

Spotting Risks and Opportunities with Credit Scoring
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
How One Credit Manager Reduced DSO By 14%
By Dean Kaplan
How One Credit Manager Reduced DSO By 14% When Lhoist North America hired Chris Soignier as Credit Manager in 2012, senior management recognized that they wanted to better control risk and reduce DSO. They had just made DSO one of the variables that impacted bonuses for sales people, but there was there was still much to do in order to achieve their objectives.

Chris identified a number of issues that needed attention, including: . . .
keep reading

Tech Buyer's Guide: Lockboxes On the Way Out?
January 26, 2015
Last year, our benchmarking survey on Cash Application & Remittance Processing revealed that - not surprisingly, lockboxes are used by 76 percent of compan . . . keep reading

Huge Productivity Gains: Expert Insights Into Remittance Processing Technology
By Dave Schmidt
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...
  • 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
. . .
keep reading
Version 3, Section 7, of Credit and Collection Technology Guide Launched on Remittance Processing
January 2015
Version 3, Section 7, of Credit and Collection Technology Guide Launched on Remittance Processing Just released: the second installment of Version 3.0 of Credit Today's Technology Buyer's Guide! Far and away, the industry-leading technology report and buyer's guide continues!
  • Get our expert advice on the entire process associated with remittance processing, it's automation, and the vendors bringing solutions in this arena.
  • Written in plain English for credit & financial execs, IT professionals
  • Independent and comprehensive analysis
  • Step-by-step guidance on how to put together a Request For Proposal, including our exclusive "pull-out version" of our vendor questionnaire.
  • Glossary of terms and acronyms associated with remittance processing
  • Exclusive and detailed "Vendor Comparison" charts
  • Revealing "Who's Using Whom" charts
. . .
keep reading

Use This Chart to Get a Handle on the OTC Process and All Technology Associated With It
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
Organization Chart "Idea Book" a Wrap!
Organization Chart "Idea Book" a Wrap! We just put the finishing touches on a new booklet with samples of Members' Organization Charts. It's a great way to compare what your peers are doing as far as organizing their departments.

The idea for the booklet came from an inquiry on our Discussion Forum ("listserv") when a Member asked for help in developing his company's organization chart. The question centered more on organizational issues than the actual CHART, but we thought it might be useful to be able to eyeball a number of different organizational charts. . . .
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
I Like Playing Texas Hold-Em; I Must Be A Credit Manager
By Guy Nishida
I Like Playing Texas Hold-Em; I Must Be A Credit Manager I find many similarities between playing winning poker and being a successful Credit Manager. I believe that there are definitely transferable skills between the two. Deciding whether or not to play a hand of cards is part gambling and part investing - identical ingredients in deciding whether or not to extend credit. Both require one to make decisions based on incomplete information. You have not seen all the cards yet and you do not know the cards the other player holds. In both cases you must make an educated guess and calculate the potential profit both in the short-term and the long-term against the risk. . . . 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
Using Game Theory to Get Things Done
In credit, we often are required to implement decisions and get things done with corporate peers and customers who have different objectives.

With that in mind, here is a set of communication rules that will serve you well. They were developed by legendary social psychologist Anatol Rapoport, best known for originating a "tit-for-tat strategy" for game theory: . . .
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
By David Schmidt
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:
  • 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
. . .
keep reading
Tech Notes: New Insights for Construction Credit Management and Automated Lien Management
By David Schmidt
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
How to Keep Customers From Slipping Dangerous PO Clauses Past You
A few weeks ago our lead story was on how credit execs are on the front line in the process of spotting purchase order changes from customers ("Credit on the Front Line: Strategies For Neutralizing Damaging PO Language"). We detailed credit veteran Allen Vicker's strategies for coping with this situation. He offered up what we'd describe as a "master class" in how to stop these very-dangerous-to-your-cash-flow document in their tracks!

After learning the hard way, he developed a very specific system for spotting and dealing with customer attempts to slip purchase orders past an unsuspecting supplier. . . .
keep reading

Forecasting Monthly Collections
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
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
By David Schmidt
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?
December 3, 2014
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
The Fastest, Easiest, and Most Comprehensive Way to Make Job Descriptions: Credit Today's "Job Description-O-Matic"
The Fastest, Easiest, and Most Comprehensive Way to Make Job Descriptions: Credit Today's "Job Description-O-Matic" Do you ever struggle with putting together job descriptions?

Do you wonder what to include?

How to organize it?

Do you struggle with the words or proper phrasing, perhaps?

If so, that's normal! . . .
keep reading

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 Credit Jobs Today
 This Month's Survey

2014 Extended Terms Survey

This month's survey takes a look at unclaimed property issues:
  • The extent to which companies have unclaimed property polices
  • Who put together the policies
  • What percent of companies have been audited
  • What states are doing the auditing
  • What types of penalties are being assessed
  • Lessons-learned and advice from those who have been through the process
If you're as interested in these results as we are, then please click here to participate!

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