http://www.credittoday.net Credit Today newsletter en-us webmaster@credittoday.net http://www.credittoday.net/public/5272.cfm Columbia, MD: Representatives from the unsecured trade credit community made their case for bankruptcy reform this week when they testified at a May 21 field hearing of the American Bankruptcy Institute's (ABI's) Commission to Study the Reform of Chapter 11, held at the National Association of Credit Management's (NACM's) 117th Annual Credit Congress and Exposition in Las Vegas. Thu, 23 May 2013 00:00:00 00 http://www.credittoday.net/public/5274.cfm Experian®, the leading global information services company, today announced that despite the threat of heavier tax burdens and sequestration, small-business credit conditions improved significantly during Q1 2013. According to the latest Experian/ Moody's Analytics report, the Small Business Credit Index climbed 5.7 points in Q1 2013 to 109, up from 104.3 in the previous quarter. Details from the report showed that much of the first quarter improvement was fueled by lower delinquency rates and stronger consumer spending. Tue, 21 May 2013 00:00:00 00 http://www.credittoday.net/public/5273.cfm The National Association of Credit Management (NACM) announced its Honors & Awards Program recipients during the General Session of its 117th Credit Congress and Exposition in Las Vegas on May 20.</p> O.D. Glaus Credit Executive of Distinction Award was presented to Kathy Tomlin, CCE, regional credit manager, Central Concrete Supply Company, San Jose, California. Candidates for this award are judged on local and national service to the NACM organization, community service, educational and professional achievements, mentoring and cultivation of staff and peers, and support of the NACM organization. Tue, 21 May 2013 00:00:00 00 http://www.credittoday.net/public/5271.cfm SunGard will showcase the latest advancements to its flagship credit and collections solution, AvantGard Receivables (GETPAID) at the NACM Credit Congress in Las Vegas May, 19-22. The solution's new statistical modeling functionality transforms how companies address their collections strategy by incorporating risk as a driver of collections prioritization, rather than aging and amount past due without risk. Mon, 20 May 2013 00:00:00 00 http://www.credittoday.net/public/5266.cfm For this week's tip of the week, we're indebted to Mel Kleiman of Humetrics for some great interviewing advice. In Mel's most recent missive, he wrote:</p> "What answer would you prefer to hear when you ask these interview questions: Mon, 20 May 2013 00:00:00 00 http://www.credittoday.net/public/5262.cfm Transactis' Chief Marketing Officer Laurette DelGuercio will present at the IFO Fusion Conference on Monday, May 20, 2013 in Orlando, Fl. Joining Laurette on the panel will be Carol Craig, Treasury Manager at Regency Centers and Scott Hansen, EVP of Business Development at Harland Financial Solutions. Fri, 17 May 2013 00:00:00 00 http://www.credittoday.net/public/5261.cfm F&D Reports, a division of industry-leading credit consulting firm Information Clearinghouse Inc. (ICI), is pleased to announce the release of its comprehensive Strategic Sales Insights (SSI) report on Ahold, providing a detailed analysis of the Company's current operational and competitive status as well as potential future growth and retail activity. Fri, 17 May 2013 00:00:00 00 http://www.credittoday.net/public/5260.cfm D&B (NYSE: DNB), the world's leading source of commercial information and insight on businesses, today introduced Hoover's Analytics, a new product to help small businesses segment and evaluate their customers and prospects to identify new growth opportunities. In addition to the D&B predictive analytics solutions launched earlier this week, this new product gives small businesses the edge to anticipate tomorrow's opportunities, today. Thu, 16 May 2013 00:00:00 00 http://www.credittoday.net/public/5258.cfm Are you a positive influence in your workplace? I love the saying, "Life is an echo. You get back what you send out." Successful people send out positive messages on a routine basis. So, why do I keep hearing in my training classes about rude, difficult, unhelpful people? Resolve today to make sure you are not one of them. Try some of these techniques. Wed, 15 May 2013 00:00:00 00 http://www.credittoday.net/public/5257.cfm I am always fascinated by the power of a person's image. Everything from the way you walk, sit, dress, and the facial expressions you emit can make an instant impression--either good or bad. I like to call it your "personal packaging," and it's an important part of your success. Wed, 15 May 2013 00:00:00 00 http://www.credittoday.net/public/5255.cfm After experiencing a fairly stable 1st quarter, the 2nd quarter of 2013 has gotten off to a rocky start. April saw downturns in two of our three economic indicators (Credit Alerts and Sales Leads). The third indicator (New Reference Inquiries) remained somewhat static. Overall, the data suggests that vendors are having an increasingly difficult time collecting on past-due receivables. Additionally, based on sales leads figures there is not only increased compression in the number of existing retail outlets, but there are far fewer new merchants entering the marketplace. Wed, 15 May 2013 00:00:00 00 http://www.credittoday.net/public/5254.cfm SHORT HILLS, N.J.-- (BUSINESS WIRE)-- D&B (NYSE: DNB), the world's leading source of commercial information and insight on businesses, today introduced a suite of four new products that help businesses reduce risk and find growth opportunities by providing more precision and foresight in segmenting and evaluating their customers. The suite of new advanced analytic products includes: Mon, 13 May 2013 00:00:00 00 http://www.credittoday.net/public/5252.cfm hold_ tease c Mon, 13 May 2013 00:00:00 00 http://www.credittoday.net/public/5251.cfm In a Chapter 11 bankruptcy, unsecured creditors often have the most to lose. They also have the least amount of leverage in protecting their interests. Their claims against the debtor are low priority, falling to the bottom of a list that begins with: Mon, 13 May 2013 00:00:00 00 http://www.credittoday.net/public/5246.cfm Ron Wells' announces the publication of Part One of his latest creative work, marking the launch of a new concept in business books. The book features action; there are real life questions for the credit team to deal with. The team solves day to day problems in practical ways and discusses general issues as they add value constructively.</p> All the while the reader is drawn into an historical fiction that is interwoven with the day to day challenges of the credit risk management team. There are interesting twists and turns, characters are developed, fascinating places are visited, and little known facts emerge. It is a light novel packed with humour and sure to spike your curiosity. Wed, 08 May 2013 00:00:00 00 http://www.credittoday.net/public/5245.cfm hold_ tease c Wed, 08 May 2013 00:00:00 00 http://www.credittoday.net/public/5244.cfm Latitude Software, an Interactive Intelligence Group Inc. (Nasdaq: ININ) company, has released a major upgrade to its debt collection software suite, Latitude Center™.</p> "Our latest upgrade was designed to help customers collect debt more quickly and effectively through new functionality such as sophisticated online analytical processing, tools to build customized performance dashboards, and real-time access to credit reports," said Latitude Software division vice president of sales for Interactive Intelligence, Carl Harkleroad. Wed, 08 May 2013 00:00:00 00 http://www.credittoday.net/public/5243.cfm According to the latest Javelin Strategy & Research report, there were 12.6 million identity theft victims in the United States in 2012 (up from 11.6 million in 2011). This data indicates an identity theft is taking place nearly every three seconds. As incidents of identity theft increase, the problem is gaining momentum as a serious problem worldwide. Tue, 07 May 2013 00:00:00 00 http://www.credittoday.net/public/3466.cfm hold_ tease c Mon, 06 May 2013 00:00:00 00 http://www.credittoday.net/public/5241.cfm D&B (NYSE: DNB), the world's leading source of commercial information and insight on businesses, announced today that <b>Sara Mathew</b> has informed the Board of Directors of her intention to retire as Chairman and Chief Executive Officer by May 2014. The Board has engaged Spencer Stuart, a nationally recognized executive recruiting firm, to advise on this matter and will consider both internal and external candidates for this position. Fri, 03 May 2013 00:00:00 00 http://www.credittoday.net/public/5239.cfm D&B (NYSE: DNB)</b>, the world's leading source of commercial information and insight on businesses, today reported results for the first quarter ended March 31, 2013. "Our first quarter results were in line with expectations and we remain confident in our guidance ranges for the year. Looking ahead, we expect our new products and analytics to create additional value for our customers and position the business for a stronger second half" said <b>Sara Mathew</b>, Chairman and Chief Executive Officer. "Early customer feedback on these new solutions is positive, and our team is focused on flawless execution to drive both customer and shareholder value." Thu, 02 May 2013 00:00:00 00 http://www.credittoday.net/public/5238.cfm Coface's latest "Panorama" publication focuses on 14 business sectors in North America, Emerging Asia and the European Union</p> Highlights:<br> <ul><li>Globally, credit risk has increased in the metal industry and remains satisfactory in the energy and pharmaceutical sectors <li>No sector in Europe has escaped this risk, while several sectors in Asia and in North America have seen credit risk improve or remain at a contained level <li>Traditional retail channels face a boom in e-commerce, which is a source of both risk and opportunities</ul> Thu, 02 May 2013 00:00:00 00 http://www.credittoday.net/public/5234.cfm A truly effective credit department should operate with a central, driving mission statement, surrounded by the four specialized activities of credit approval, billing, collections, and monitoring. Before being able to set goals for these four activities, though, you need to create your mission statement--your declaration of what your credit department is all about. </p> Before creating your mission statement, you first must define what credit is. Ask some credit managers, and you may get answers such as: Mon, 29 Apr 2013 00:00:00 00 http://www.credittoday.net/public/5232.cfm Despite continued cuts in staffing and budgets this year, finance organizations are compelled to respond to the challenges and opportunities presented by the new 'borderless business environment' according to 2013 Key Issues research from The Hackett Group, Inc. (NASDAQ: HCKT). The new study details how finance leaders are forging ahead with high-value analytics and business partnering programs while continuing to work on reducing operational costs. Thu, 25 Apr 2013 00:00:00 00 http://www.credittoday.net/public/5231.cfm Accounts Receivable Management Solutions (ARMS), an affiliated company of Information Clearinghouse, Inc. (ICI), announced the expansion of its coverage to include Canadian businesses. The extensive ARMS database now covers all of North America, offering subscribers access to critical b2b information on companies of interest as well as the ability to launch new credit investigations. Subscribers receive unfettered access to over 20,000 North American company credit files across more than 20 industry segments, including real-time alerts, Chapter 11 coverage, layoff and store closing activity, credit scoring, delinquency activity, and the new portfolio-based Payment Scoring Report for quick identification of deteriorating payment trends. All aspects of the database are accessible to password holders and are customizable through a Q Methodology "Dashboard" portfolio, enabling users to quickly and easily narrow their focus to specific companies, industries or geographies. Thu, 25 Apr 2013 00:00:00 00 http://www.credittoday.net/public/5230.cfm ROLLING MEADOWS, IL, -- Brown & Joseph, Ltd., a commercial credit and collection agency, announced today that it has recently completed its examination in conformity with Statement on Standards for Attestation Engagements (SSAE) No. 16, Reporting on Controls at a Service Organization as of March 15, 2013 that was performed by an independent accounting and auditing firm. Tue, 23 Apr 2013 00:00:00 00 http://www.credittoday.net/public/5229.cfm HAMILTON, N.J. -- Outsourced billing services provider Billtrust today announced its latest "Billing Rockstar" designees, recognizing City Manager Dan Ralley and the billing professionals at the City of Petoskey, Michigan, for their forward-thinking approach to the billing process. Mon, 22 Apr 2013 00:00:00 00 http://www.credittoday.net/public/5224.cfm in a recent decision, Morning Mist Holdings Limited v. Krys (In re: Fairfield Sentry Ltd), 11-4376 (2nd Cir. April 16, 2013), the Second Circuit affirmed the rulings of both the Bankruptcy Court and the District Court wherein both courts held Fairfield Sentry Limited ("Sentry") had its center of main interest ("COMI") in the British Virgin Islands ("BVI"). Accordingly, Sentry's previously filed liquidation in the BVI would be recognized under Chapter 15 of the Bankruptcy Code and the automatic stay would apply to any proceedings filed in the United States pursuant to sections 362 and 1520 of the Bankruptcy Code. Fri, 19 Apr 2013 00:00:00 00 http://www.credittoday.net/public/5222.cfm Reduce Risk and Drive Revenue:</b> The former may be the goal for the credit department, but the latter is the goal of any business. Armed with the right data, credit and risk professionals can change the game by not only reducing risk, but also contributing to the sales effort.</p> So what's the hold up?</p> Businesses have long relied on conventional credit data to evaluate the risk of potential and existing customers. This data has been the sole source for determining the financial solvency of prospects. However, credit and risk professionals now have access to data that reveals not just how a company pays -- yielding a credit score -- but how it behaves across multiple dimensions. Thu, 18 Apr 2013 00:00:00 00 http://www.credittoday.net/members/5221.cfm As with all of our benchmarking surveys, we wrap up with the opportunity for participants to weigh in on a broad range of issues. In this survey, we asked participants for both their top <i>problems</i> in the collection arena today, and more importantly, what they're doing to improve their collection operations. </p> Read on to learn the most pressing collection challenges and further on, some really innovative solutions and improvements in collection operations being implemented by credit professionals today. Learn... <ul> <li>The top seven categories of collection operation problems faced by credit pros today - what's really driving others crazy? <li>Get <u>dozens</u> of DSO-reducing, cost-cutting ideas, time-saving innovations and solutions from your peers! </ul> Thu, 18 Apr 2013 00:00:00 00 http://www.credittoday.net/public/5218.cfm We are pleased to report that there are some positive economic indicators for the combined childrens' industries. While these numbers in no way show that the economy is healed, they do reveal that there has been substantial improvement over the beginning of 2012. Thu, 18 Apr 2013 00:00:00 00 http://www.credittoday.net/public/5220.cfm Why is it that some companies are able to provide great customer service while others can't? Your employees can be polite and courteous to customers but no matter how hard they try, there is always something standing in the way of your customers receiving a positive impression of your services. Ask yourself if these barriers exist at your company. They could be responsible for preventing your employees from delivering the level of service you want. Wed, 17 Apr 2013 00:00:00 00 http://www.credittoday.net/public/5219.cfm It is totally unrealistic to think that you will like everyone, especially those in your workplace. You should not have to like someone in order to work well with them--just be able to interact with them in a professional way. But if you want to keep your job, and enjoy your job more, you do not want to be known as the employee who is difficult to get along with because you don't like someone. Wed, 17 Apr 2013 00:00:00 00 http://www.credittoday.net/public/1473.cfm As a credit analyst, one of the most important indicators you can track is the ratio of inventory to sales. It's used by money manager and retailing expert David Berman. Berman originally cut his teeth as a CPA, where he learned that inventory accounting was a way managers could manipulate earnings. Berman points out that companies can let inventories rise over time and thus avoid the markdowns and hits to profits that they should be taking. Mon, 15 Apr 2013 00:00:00 00 http://www.credittoday.net/public/5216.cfm SHORT HILLS, N.J.--(BUSINESS WIRE)-- D&B (NYSE: DNB), the world's leading source of commercial information and insight on businesses, today published its five-year forecast of the global economy, predicting continued but sluggish growth against challenging headwinds, differing from region to region. Tue, 09 Apr 2013 00:00:00 00 http://www.credittoday.net/public/5217.cfm TORONTO--(BUSINESS WIRE)-- D&B (NYSE: DNB), the world's leading source of commercial information and insight on businesses, today announced a long-term strategic initiative and commitment to deliver a combination of new solutions and improved business insight for the Canadian market. The first three solutions in the initiative launch today in Canada. Mon, 08 Apr 2013 00:00:00 00 http://www.credittoday.net/public/5212.cfm HAMILTON, NJ -- Land O'Lakes is a whole lot more than butter. The Twin Cities agricultural co-operative, second largest in the U.S., serves its nearly 4,000 direct producer-members and 900 member-cooperatives not only by marketing its famous food products, but also by satisfying agricultural needs ranging from business development services to animal feed, agricultural seed and crop protection products. Mon, 08 Apr 2013 00:00:00 00 http://www.credittoday.net/public/3410.cfm One smart credit exec we know doesn't leave home without his "credit manager's toolkit"--a well-stocked expanding folder stored within his briefcase. "The toolkit contains everything I need when I'm travelling to visit our dealer outlets or our customers," he tells us.</p> The documents he carries include the following Mon, 08 Apr 2013 00:00:00 00 http://www.credittoday.net/public/5208.cfm hold_ tease c Mon, 01 Apr 2013 00:00:00 00 http://www.credittoday.net/public/5207.cfm Does the name you use when collecting make any difference?</p> Can you be as casual as you are in your personal life?</p> Learn why this collection pro feels the name you use when collecting is important and why you shouldn't be too casual or informal. Thu, 28 Mar 2013 00:00:00 00 http://www.credittoday.net/public/5206.cfm Federation of Credit and Financial Professionals recently announced the appointment of Kerry Prata, National Account Executive at Smyyth, to the role of Interim President of the Federation of Credit and Financial Professionals (FCFP). Kerry's elevation to this role was unanimously endorsed by FCFP's Board of Directors, which is comprised of senior credit management leaders representing a cross section of industries and businesses in the US economy, including the Fortune 100. Thu, 28 Mar 2013 00:00:00 00 http://www.credittoday.net/public/5205.cfm SHORT HILLS, N.J.--(BUSINESS WIRE)-- D&B (NYSE: DNB), the world's leading source of commercial information and insight on businesses, today announced that it has been named by The Ethisphere Institute as one of 2013's World's Most Ethical (WME) Companies. Wed, 27 Mar 2013 00:00:00 00 http://www.credittoday.net/public/5202.cfm A few weeks ago, we wrote about the increasing problem of customers (usually big firms with market clout) arbitarily changing their "payment terms" to 60 or 90 days ("Are Big 4 Accounting Firms Really Telling Clients to Disregard Contracts?").</p> At the time, we noted that we had heard from a knowledgable source that some of this impetus is coming from the consulting arms of the Big 4 accounting firms. We consider this bad advice. Mon, 25 Mar 2013 00:00:00 00 http://www.credittoday.net/public/5200.cfm Accounts Receivable Management Solutions (ARMS), an affiliated company of Information Clearinghouse, Inc. (ICI), announced the latest enhancement to its payment scoring model. With a single click, subscribers can now create a new portfolio-based Payment Scoring Report, for quick identification of slow-paying accounts and deteriorating payment trends. The Payment Scoring Report, displayed in a format easily printed or emailed, shows the current ARMS Payment Score (APS) for each company in a user's portfolio alongside its six-month trending chart. The results quickly prioritize portfolio companies in order of highest to lowest risk, highlighting subscribers' most problematic accounts. Fri, 22 Mar 2013 00:00:00 00 http://www.credittoday.net/public/5194.cfm The undefined phrase "adequate protection" appears in several key provisions of the bankruptcy code, and the success or failure of an attempted restructuring often hinges on the question of whether "adequate protection" exists. Crudely put, the thrust of the concept is that a debtor may not use a secured creditor's collateral without compensating the secured creditor for any loss of value arising from the use of the collateral during bankruptcy. While this notion is easily stated, how it can and should be applied is a vexed question. One issue on which the respective bankruptcy courts have diverged is when adequate protection payments should begin. That is, assuming a secured creditor can show the value of its collateral is declining, when should it start receiving payments to compensate for this? Fri, 22 Mar 2013 00:00:00 00 http://www.credittoday.net/public/5140.cfm hold_ tease c Fri, 22 Mar 2013 00:00:00 00 http://www.credittoday.net/public/5188.cfm Service Allows Bill Recipients to Make Online Payments Simply by Scanning QR Code with Their Smartphone</p> Billtrust, the leader in Customer Centric Billing, today announced the immediate availability of QR codes for biller statements. The service lets consumers and businesses pay their bills online in a single step, simply by scanning the QR code with a suitably-equipped smartphone. Tue, 19 Mar 2013 00:00:00 00 http://www.credittoday.net/public/5187.cfm Press Release -- As you may have seen on CNBC's Closing Bell, Experian recently released the Q4 Experian/Moody's Analytics Small Business Credit Index. The report showed significant movement in economic and business trends. If you have small business customers or are a small business, this report is worth reading. Tue, 19 Mar 2013 00:00:00 00 http://www.credittoday.net/public/5184.cfm D&B, the world's leading source of commercial information and insight on businesses, today introduced an expansion of its award-winning D&B360 solution capabilities that seamlessly integrates with Eloqua (a wholly-owned subsidiary of Oracle) Marketing Automation solutions. The D&B360 solution is the latest addition to the Eloqua AppCloud and is currently available in North America Tue, 19 Mar 2013 00:00:00 00 http://www.credittoday.net/public/5183.cfm BOCA RATON, Fla., -- Cortera, a provider of comprehensive business behavior data and insights on public and private companies, has launched Cortera Lookalikes™, automatically generated, high quality prospects that look and act like a company's existing customers based on business behavior data and insights. Tue, 19 Mar 2013 00:00:00 00