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Budgets Are Tight!
Vendor-Submitted Articles and White Papers

As a service to the credit community, Credit Today has created this section of our site as a forum for articles and white papers from within the vendor and consultant community. We consider these to be a valuable source of information and a great resource for credit execs, but do not endorse the writers or their views.

Understanding the Balance Sheet
by Christine Newhouse, Feb 22, 2010
The following article originally appeared in the February 2010 issue of ABC-Amega's free client newsleter, "Credit-to-Cash Advisor". Assets = Shareholders' Equity + Liabilities The equatio . . . keep reading
Vendor Case Study: Huntsman Corporation Improves Cash Flow by $25 Million with AvantGard Receivables
February 10, 2010
Vendor Case Study: Huntsman Corporation Improves Cash Flow by $25 Million with AvantGard Receivables Huntsman Corporation, the U.S. based global manufacturer and marketer of differentiated chemicals, deployed AvantGard Receivables to centralize its regional operations, systems and processes. The outcome has been improved cash flow, a reduction in days sales outstanding (DSO) by five days and a complete return on investment in less than six months. . . . keep reading
When Is a Committee Not a Committee for Bankruptcy Rule 2019 Purposes? Courts Are Split 3 to 3 And The Debate Continues...
February 5, 2010
When Is a Committee Not a Committee for Bankruptcy Rule 2019 Purposes? Courts Are Split 3 to 3 And The Debate Continues... Although 2010 is still young, the bankruptcy courts have been busy interpreting Rule 2019 of the Federal Rules of Bankruptcy Procedure as it applies to ad hoc groups of creditors in bankruptcy cases. A ruling issued on February 4, 2010, in In re Philadelphia Newspapers, LL, Case No. 09-11204 (Bankr. E.D.Pa.) found Rule 2019 applies to ad hoc groups. The score is now tied at three to three. While each of the six courts that have considered Rule 2019 based their decisions on the "plain meaning" of the rule, they are split on exactly what is Rule 2019's "plain meaning." . . . keep reading
Hackett's Finance Metric of the Month: Number of Secondary Finance Applications per Billion of Revenue
February 2, 2010
Hackett's Finance Metric of the Month: Number of Secondary Finance Applications per Billion of Revenue At most companies, business units are given leeway to choose the secondary applications that best support their business needs, but this comes at a cost: As use of technology increases, transactional process cost falls, but technology costs rise. World-class finance organizations rationalize the number of secondary applications they use to support both transactional and planning and reporting processes (Fig. 1). . . . keep reading
DuPont Analysis
January 31, 2010
Return on Equity Financial Expression Efficient use of assets is important for the profitability and growth of any organization. One of the easiest ways to gauge whether a company is an asset creator or cash user is to look at the return on equity (ROE) ratio. ROE is a strong measure of how well management is creating value for shareholders. . . . keep reading
Credit and Collection Policy Basics
January 29, 2010
In the current economic and business environment, liquidity and accounts receivable has emerged as a topic of concern. Making sales is important, but collecting on those sales is critical. A recent survey by the Credit Research Foundation showed that 93% of respondents believed that their customers were relying on suppliers for working capital. . . . keep reading
Equifax Study Shows Mixed Results in Overall Commercial Credit Trends
January 27, 2010
Equifax Study Shows Mixed Results in Overall Commercial Credit Trends Within the commercial market, are there any signs of change or do more challenges lie ahead? According to an Equifax study on Q3 2009 data, the commercial landscape continues to exhibit some interesting dichotomies when it comes to key credit trends. While initial Equifax analysis showed an average 10% decline in commercial bankruptcies at the end of 2009, rising delinquencies and small business economic challenges continue to pressure today's commercial markets. . . . keep reading
Global Study on Connectivity Across the Corporate EcoSystem
January 22, 2010
Global Study on Connectivity Across the Corporate EcoSystem SunGard study reveals requirements for increased connectivity between suppliers, buyers, banks and other trading partners. This corporate commercial EcoSystem of suppliers, buyers, banks & other trading partners is likely the most inefficient marketplace in the world. This market is inefficient because of lack of access and transparency of data combined with poor infrastructure and connectivity and the pervasive use of manual processes. The result is a high degree of friction across the EcoSystem. The basis of this study is grounded in the concept that the intrinsic value of any corporation is based on its ability to drive free cash flow in a predictable fashion. This study aims to uncover the primary areas to target to drive increased transparency, . . . keep reading
FS Insights - 2010: The Year Ahead for Financial Services
January 21, 2010
FS Insights - 2010: The Year Ahead for Financial Services The American poet and philosopher Henry David Thoreau said "Never look back unless you are planning to go that way." This would be considered sound advice in many circumstances. After all, there is nothing we can do about events that have already happened -- except, we hope, learn from our mistakes. As the global financial crisis has unfolded, we have already learned a number of lessons, including: . . . keep reading
Kelson Channelview LLC v. Reliant Energy Channelview LP: When Negotiating a Break-up Fee in a Stalking Horse Bid, Make Sure it Meets Section 503(B)'s "Necessary to Preserve Value" Test
January 20, 2010
Kelson Channelview LLC v. Reliant Energy Channelview LP: When Negotiating a Break-up Fee in a Stalking Horse Bid, Make Sure it Meets Section 503(B)'s "Necessary to Preserve Value" Test The term "stalking horse" originally referred to a horse or type of screen a hunter used to conceal his position from intended prey. Today the term takes a new meaning altogether thanks to its application in the bankruptcy context. A modern day "stalking horse" is an interested buyer of a debtor's assets who is offered incentives for being the first to announce its intent. As the initial bidder, the stalking horse sets the minimum purchase price and other terms of the transaction. Often included in the stalking horse bid are reimbursements for the stalking horse bidder's expenses incurred in connection with the transaction, a break-up fee equal to some percentage . . . keep reading
Supply chain payments suggesting cautious holiday projections? And better bottom lines?
January 7th, 2010, by Alex Coté
Retailers and their suppliers are starting to report the final numbers from the 2009 holiday shopping season. Initial sales reports look promising -- a welcome sign of relief for the top line after a . . . keep reading
Bankruptcy, Financial Reorganization & Creditors' Rights Department
Potential Benefit to Unsecured Creditors From the Worker, Homeownership, and Business Assistance Act of 2009. There is something for everyone in the suitably named Worker, Homeownership, and . . . keep reading
Pension Plan Termination Premium Claims May Not Be Dischargeable in Bankruptcy
December 21, 2009
Pension Plan Termination Premium Claims May Not Be Dischargeable in Bankruptcy The Supreme Court declines to review a circuit court decision in Oneida Ltd., which held that a debtor cannot discharge in bankruptcy, as a prepetition claim, premiums it owes to the Pension Benefit Guaranty Corporation in connection with the termination of a pension plan. Introduction
Many companies seeking Chapter 11 protection in the recent economic downturn included among their woes large unpaid defined benefit pension obligations. These woes were compounded by the employers' inability to stay current with ongoing pension contributions owed to their tax-qualified pension plans. Benefit obligations under most tax-qualified pension plans are insured up to . . .
keep reading
6 Steps in the U.S. Collection Suit Process
By Robert M. Tharnish
What actually happens once an account is submitted to an attorney for suit? Here's a brief summary of six steps that describe the process from the decision to sue to its outcome. . . . keep reading
10 Questions to Ask Before Deciding to Sue a Collection Account
By Bob Tharnish
You placed your claim with a collection agency. They've done their best to collect, but the debtor just isn't budging. They tell you that your only option is filing a law suit. That's going to cost you some out-of-pocket expense for court costs and possibly non-contingent suit fees. ABC-Amega's Vice President, International and Corporate Quality, Robert Tharnish, suggests you get the answer to the following ten questions before making this important decision. . . . keep reading
Business Payments Continue to Decline, According to Experian's Latest Business Benchmark Report
December 16, 2009
Business Payments Continue to Decline, According to Experian's Latest Business Benchmark Report Costa Mesa, Calif., Dec. 16, 2009 -- Experian®, the leading global information services company, today announced the results of its monthly Business Benchmark Report. During the month of November, the majority of measurements in the report show that payment performance is continuing to deteriorate nationwide across most industries, geographies and businesses of all sizes. Still, businesses with 100 to 1,000 employees began showing improvement in overall dollars delinquent, indicating there may be some stability in that important business segment. . . . keep reading
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