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Our Subscribers Say...
"There are numerous credit periodicals available to the credit professional today. How good is Credit Today? Is it relevant? I always have to read it late, or online because my credit analysts want to read it the minute it comes in. When my staff wants to read a publication before I have a chance to read it then something is working in that publication. We have cancelled our other subscriptions. When you have the best you do not need the rest."
Ron Woods
Corporate Credit Manager-World Wide
Thales Navigation, Inc.
"The newsletter, coupled with the website and the ListServ, are to us, more valuable than any other credit publication, bar none. I try to use at least one article out of each newsletter for departmental training/discussion sessions."
D. Mark Constantine
Corporate Credit Mgr
Fulton Paper Company
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Doug M. Thomas
Kimberly-Clark Customer Financial Services
"As a corporate credit manager with over two decades of experience, I consider Credit Today to be one of the best credit newsletters. Whether it is because of Credit Today's management, its distinguished panel of advisors, or the caliber of Credit Today's subscribers, it would be fair to say that some of the best and brightest minds in our profession are represented. The credit issues, technologies, news, credit department profiles, etc. are interesting and useful. Credit Today is a valuable reference and communications tool which I look forward to reading each month."
Paul Brunner
Corporate Credit Manager
Mitsubishi Electric Automation, Inc. |
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Proven Methods For Reducing Losses to Fraud
If you sell goods or services on credit, you're on the front lines against all kinds of fraud artists. Here we've compiled everything you'll need to establish bullet-proof anti-fraud procedures for your credit and collection operation. From years of experience, we know it's far more cost effective to have systems in place to spot fraud up front, before it happens, than to try to get your money back after-the-fact. That's nearly always impossible. In this section of our site you'll find a series of best practices that will help you and you staff setup a world-class system for minimizing business credit fraud in your operation. We've culled these from the best fraud fighters anywhere, from Warren Buffett's and Howard Schilit's techniques and observations to the wisdom of Credit Today's Rob Lawson. Rob formerly headed up NACM's Loss Prevention Department and was a regular lecturer at the FBI Academy at Quantico on credit fraud.
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Lessons from a Master on Recognizing Questionable Accounting Practices
Do You Have a Customer on the Way to Being the Next Enron? Will You Be Able to Spot Them in Time to Save Your Company Money? We recently had the opportunity to sit in on a talk for securities analysts by accounting professor-turned top Wall Street advisor-Dr. Howard Schilit. "This is a great time for accountants," said Schilit, who describes himself as financial statement pathologist. In today's post-Enron climate, he said, "We are treated like rock stars!" . . . keep reading
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Expert Outlines Trends and Tips You Can Use to Spot Frauds
We recently spoke with Gary Bares, founder of Verifraud, a firm which specializes in helping credit execs manage fraud risk. Before founding Verifraud, Bares built and ran the credit fraud risk management area for Comark, a $1.5 billion computer distributor/reseller. Recently, Bares conducted a study of over 700 credit fraud attempts in multiple industries over a five-year period. The study examined the characteristics of fraud and what credit analysts believe is true vs. what is actually true when it comes to identifing the most common ways a fraud can trick credit people. . . . keep reading
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So You Think It Can't Happen to You?
By Susan Lujans, CCE
You are well educated, experienced, and work for a respected company. You put in place policies and procedures to protect your A/R investment. You are a team player. You safeguard your business inform . . . keep reading
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Accounting Guru: Three Top Financial Shenanigans
Accounting expert Dr. Howard Schilit, the author of Financial Shenanigans: How to Detect Accounting Gimmicks & Fraud in Financial Reports said in a recent interview in the Journal of Business Strategy that there are three "financial shenanigans" that are most prevalent. The top three "all deal with companies setting up reserves and shifting revenues and expenses forward or backward. Often they create some kind of reserves as kind of a cookie jar to dip into. It is common to take one-time restructuring charges. This is very easy to do: a CEO will say, 'We need to lay off 5,000 people and shut down two plants.' So the company will record an expense, a charge, which is then a liability." . . . keep reading
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With 53,000 Customers in a High-Risk Industry, Fraud Could Be a Big Problem: Here's How Virginia T's Keeps It to a Minimum
Meet Monique. Credit Manager Ann Riggs got her first introduction sometime in the fall of 2001 and has been trying to spread the news about her ever since. On Riggs' desk at Virginia T's, a Petersburg, Va.-based sportswear company, sits a binder bulging with information about Monique. Some of it Riggs dug up on her own. Other information she got from industry colleagues, through her role as chairperson of the National Association of Credit Management Sportswear Distributors Group. "One of the things we have ... come a long way with is fraud awareness," she says. "It wouldn't be possible without the credit group." . . . keep reading
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