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David Dungan, Director of Credit
Justin Brands, Inc. (A Berkshire Hathaway company)
Fort Worth, Texas
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Fulton Paper Company
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Doug M. Thomas
Kimberly-Clark Customer Financial Services
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.
Achieving World-Class Risk Analysis With Credit Insurance|
Today's historically low credit insurance premiums may provide an opportunity to vastly and affordably improve your credit risk analysis. You have a partner with "skin in the game" and an army of analysts scrutinizing the most current financial information to prevent losses--to you and to them. . . . keep reading
Back Filling Credit Management|
You're "backfilling", in current management parlance, when you assign one employee to handle another employee's responsibilities when an employee is moved out of his or her regularly assigned duties. Backfilling can be a way to quickly address the need for resources during major software implementations. In this credit professional's case, backfilling occurred over a year ago and allowed for a rapid transition while benefiting the company and all involved. . . . keep reading
Smoking Out Corporate Fraud -- Investment Investigators Lead the Way|
In some industries, the revenue-to-employee ratio is an important metric of financial condition. While revenue can be faked, it's more difficult to fake headcount--although Chinese firms had been known to "rent" workers and stock to deceive visiting analysts. That ratio was one of the giveaways recently when Gotham City Research blew a Spanish WiFi firm out of the investment-world water. So what does this have to do with the trade credit world? Several things:
. . . keep reading
- pick up a couple of relatively unknown, but effective and easy-to-find, metrics that can help you spot a problem; and
- learn what accounting trick is responsible for TWO-THIRDS of fraudulent financial reporting
- learn the names of two financial investigation firms with great track records
Regular Collection Strategy Meetings Get Results|
Every other Thursday afternoon, top credit and finance department staff and the entire sales team of this major international corporation meet for about an hour. Any sales people who are in town come in person. The rest attend by tele- and video-conference. All are looking at a report prepared for the meeting listing the company's 20 largest delinquents by volume. The list is of avid interest to the sales people since part of their compensation is based on the percentage of overdues. . . . keep reading
'Ready for Work' Truck Delivered 'As Is'|
This case illustrates a scenario in which the contract for goods clearly specifies that the merchandise is being purchased "as-is," but that seems to conflict with promises made by a sales rep. Does a clear "as-is" contract trump a potential misrepresentation by a rep? Read on to find out the principles governing this scenario. . . . keep reading
Value-for-Value Transactions for Extending Terms|
When a customer demands extended terms, you have three options: You can refuse and accept the risk of losing the business. Or you can just go along with it, pretending that it isn't happening. Or you can analyze what extended terms will cost you--in cost of capital and subsequent lost profit--and propose some kind of value-for-value transaction. Most of these demands are met with the first two options. These credit professionals are taking the third option and making it work. . . . keep reading
How Good Are Your Soft Skills?|
When you go for a new job interview, your interviewers are looking at your resume, ticking off the requirements for the position: College degree? Check. Years experience? Check. Specific technical skills? Check. But during an interview the hiring team is also trying to assess what type of a worker you are. They ask pointed questions about times you were faced with a difficult problem, met a challenging goal or when you worked as part of a team. . . . keep reading
New Products at the 2014 NACM Expo|
Each year we look for innovations among the vendors exhibiting at the NACM Credit Congress Expo. This year we found four new tools we could share with the Credit Today family.
. . . keep reading
- Looking for a lawyer in Europe?
- Solving the collection automation problem with Microsoft Dynamics - a handy collection bolt on
- A unique approach to collections and payment processing
- A new framework for monitoring credit risk
Experian Contract with Cortera Cancelled?|
Our intent is never to stir things up around here, but we do have a nose for news and figure our readers will appreciate news as well. So the other day, when a competitor to upstart credit reporting firm Cortera called us with the latest, we were all ears. . . . keep reading
Creating Your Own Financial Ratio Data Base|
The ideal ratios for judging our customers' financial performance should come from companies much like their own. This credit professional has created just such a data base. Housed in a Microsoft Access data base, this firm has a unique and uniquely valuable credit analysis resource. It's a table of average financial ratios for customers of various sizes developed entirely from the actual financial statements provided by a large percentage of their customers. . . . keep reading
Putting your Collections Productivity on the Front Burner|
Productivity is often a function of time management, regardless of the task at hand. Think of the kitchen in a four-star restaurant -- if the chef, sous chefs, sauciers, pastry chefs, all the way down to the dishwashers don't operate in perfect unison, that kitchen won't be operating at its highest efficiency. Once that efficiency goes down the drain, the service dips, the people stop coming, and the four-star rating is a glimmer of what once was. You want your collection team to operate in a way so that all team members are at peak efficiency regardless of the importance of their individual tasks. Everybody needs to work together efficiently within the confines of the system. The following eight strategies explain the rationale behind automation productivity. Whether you are automated or not, the priniciples underlying them still apply, so even if you haven't fully automated, these ideas can still be applied and results achieved. . . . keep reading