2018 Mar/Apr InterConnection Newsletter

The InterConnection VOLUME 6

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ISSUE 2

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MARCH/APRIL 2018

2019 Board of Directors Candidate Slate Lillian Novak, CGA

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he NACM/Chicago-Midwest Nominating Committee in a meeting held on February 26, 2018, has recommended the following slate of officers and directors for the April 1, 2018 – March 31, 2019 fiscal year.

Chairperson Kurt Albright Uline, Inc.

The new Board of Directors will be installed during the NACM/ChicagoMidwest Annual Meeting taking place on April 19, 2018, at Meridian Banquet & Conference Center in Rolling Meadows, IL, beginning at 3:30p.m.

Treasurer Patrick Nelson ACCO Brands, Inc.

Vice Chairperson Erica White, CCE Ferguson Enterprises

Directors – Terms Ending 2019 Mike Hill, CCE Mitek USA, Inc.

There is no cost for members to attend the business meeting portion of this event.

David Sperduto, CCE VP Supply Corp.

2018-2019 NACM/Chicago-Midwest Board of Directors

Rich Weiss, CBA Jaeckle Distributors

Photo by Nic MacMillan on Unsplash

Dave Zahller, CCE Tubular Steel Directors – Terms Ending 2020 Christine Culbreth ArcelorMittal International America Ed Stauber Continued on page 4 >>

Nominees for NACM National Honors & Awards Lillian Novak, CGA

N

ACM Connect has put into nomination the following members for National Awards:

W W Grainger Inc. CBF Designation of Excellence Martine Dyer, CBF ACCO Brands, Inc.

CCE Designation of Excellence Larry LePage, CCE Kirby Risk Corporation

CCRA Designation of Excellence Martine Dyer, CBF ACCO Brands, Inc.

Erica White, CCE Ferguson Enterprises

CBA Designation of Excellence Ed Bell, PhD, CBA, CICP

Devon Glenn, CBA Ferguson Enterprises Emerging Leader Award Brendon Misik, CCE, CICP Nutrien NACM Connect congratulates these outstanding members. We are proud to include you in our long list of esteemed member-nominees.

•

2017-2018

Board of Directors CHAIRPERSON John Fahey, CCE Edward Don & Company VICE CHAIRPERSON Kurt Albright Uline, Inc. TREASURER Erica White, CCE Ferguson Enterprises DIRECTORS—TERMS ENDING 2018 Ed Cohen, MBA OMRON Automation Americas Larry Grogan, CCE BP Products North America Larry Lipschutz, CCE, CICP French Gerleman Patrick Nelson, MBA ACCO USA Michele Pancotto, CCE, CICP Wheels Clipper DIRECTORS—TERMS ENDING 2019 Mike Hill, CCE Mitek USA, Inc. David Sperduto, CCE VP Supply Corp.

Rich Weiss, CBA Jaeckle Distributors Dave Zahller, CCE Tubular Steel DIRECTORS—TERMS ENDING 2020 Christine Culbreth ArcelorMittal International America Ed Stauber Wolters Kluwer Kevin Stinner, CCE, CCRA Pinnacle Agriculture Distribution Les Witrzek, CCE, CICP Kuriyama of America, Inc. PRESIDENT Phillip J. Lattanzio, CCE NACM/Chicago-Midwest SECRETARY Kerry Jensen, CPA NACM/Chicago-Midwest COUNCILOR Lawrence O'Brien, CCE, ICCE Potash Corporation

Editorial Staff

EDITOR Susan Rooney Senior Marketing Administrator ASSOCIATE EDITORS Lillian Novak, CGA V.P. of Education and Marketing Margaret Krafft Marketing Coordinator

In This Issue 2019 Board of Directors Candidate Slate

1

Nominees for NACM National Honors and Awards

1

2018 Institute of Credit Class Schedules

3

Board and Committee Nomination Form

5

Missouri Annual Meeting

Vantiv and Worldpay Complete Combination

29

Webinar: My Customer Filed Bankruptcy, Now What?

30

Ohio - Financial Statement Analysis

31 32

6

Ohio - UCC/Liens Seminar (Beachwood)

Illinois Construction Stuff and Stuff

7

Ohio - UCC/Liens Seminar (Cincinnati)

33

My Journey to CCE

9

SAP Credit & A/R USers Group Meeting

34

Missouri Award Nomination Form

10

Wisconsin - Best Practices Discussion Group

35

Credit Career Corner

12

Ohio - Roundtable Discussions

36

Relationaships: Not Just a Sales Skill Set

13

Indiana, Michigan, Ohio - Credit Classes

37

Illinois Annual Meeting

14

38

After 40 Years, Joan Oswald Retires

15

Indiana - A Credit Professionals Guide to Financial Statements Seminar 2018 Insitute of Credit Class Schedule

39

Bowling Event Hosted by NACM Connect - Missouri

16

Ohio - The Art of Getting Paid Seminar

40

Welcome New Members and Representatives

17

Indiana: Proactive Collections & Communications Seminar

41

NACM Connect Welcomes New Staff Members

18

Incoming 2018-201 Advisory Board Committee Members

42

Customer Centric Collections

19

Illinois - The Art of Communication Emerging Leader Event

43

New York Annual Meeting

20

Credit Group Meeting Calendars

22

Event Calendar

25

NACM Connect Mission Statement

To provide a forum to its members within the credit profession for education, networking and business resources.

Vision Statement

Striving to have the most comprehensive and leading NACM affiliate serving the commercial credit profession by consistently exceeding the members’ expectations.

Value Statement

We are committed to the highest ethical standards and recognize that our Association must take a leadership role in our profession. Through our integrity and dedication we will earn the respect of our members as we know that our success as an Association depends on their trust in us. By creating strong relationships we will attain the loyalty of our members and alliance partners. We continuously seek to build an environment for learning to enhance the knowledge and expertise of our members.

The InterConnection newsletter is published bimonthly by NACM Connect, a not-for-profit Association affiliated with the National Association of Credit Management. For membership information, visit our website at www.nacmconnect.org, call 800.935.NACM or fax us at 847.253.6685. NACM Connect Headquarters is located at 3005 Tollview Drive, Rolling Meadows, IL 60008.

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MARCH/APRIL 2018

PAGE 2

Education Digest

Institue of Credit (IOC)

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tart the process of earning your professional designation and register today for the NACM Connect Institute of Credit (IOC) Quarter for Spring of 2018. If you

would like more information, please contact the NACM Connect Education Department at 800.935.6226 or email Lillian Novak at lillian.novak@nacmconnect.org.

CBA (Credit Business Associate) Course Schedule

2018 Annual Meetings

Each of these courses fulfills one of the CBA certification requirements. **Class available via Live Videoconference

**Business Credit Principles

Mondays, 3/12 - 5/14

Rolling Meadows, IL

Business Credit Principles

Wednesdays, 6/27 - 9/5

Toledo, OH

**Financial Statement Analysis I

Thursdays, 3/15 - 5/17

Rolling Meadows, IL

Financial Statement Analysis I Wednesdays, 4/18 - 6/20 Toledo, OH

May 8 - Wichita, KS

Each of these courses fulfills one of the CBF certification requirements.

Mondays, 3/19 - 5/21

April 19 - Rolling Meadows, IL April 24&25 - Rochester, NY

CBF (Credit Business Fellow) Course Schedule Business Law

April 12 - Maryland Hts, MO

May 10 - Kansas City, MO

Rolling Meadows, IL

Institue of Credit (IOC) CBA and CBF class times are usually in the evenings. Please refer to the specific class registration form in this issue for more details on instructors, locations, fees and times.

Exam Review Classes

May 15 - Omaha, NE May 17 - South Bend, IN May 22 - Independence, OH May 24 - Pewaukee, WI

Exam Review Class Schedule (Exam Dates are Below) All Exam Reviews can be done via Teleconference.

Review Class

Review Date

CBA

June 13, 2018

CBF

June 6, 2018

CCE

June 12, 2018

Registration Open at www.nacmconnect.org

Exam Dates & Deadlines Application and Paperwork Deadlines

Exam Dates

Friday, April 20, 2018

Sunday, June 10, 2018

Friday, June 1, 2018

Monday, July 23, 2018

Web Seminar Schedule NACM Connect is now offering web seminars as part of our education and training initiative.

Webinar Topic My Customer Filed Bankruptcy, Now What?

Date Mar 13

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Page 30

MARCH/APRIL 2018 PAGE 3

news

2019 Board of Directors Candidate Slate (cont'd) Continued from page 1

Kevin Stinner, CCE, CCRA Pinnacle Agriculture Distribution Les Witrzek, CCE, CICP Kuriyama of America, Inc. Directors – Terms Ending 2021 Tracey Bland Charter Manufacturing Inc. Kevin Burke, CCE Erie Materials, Inc. Staci Cima, CCE Crescent Parts & Equipment Diana Hoffmann Rockline Industries, Inc. Brendon Misik, CCE, CICP Nutrien

Councilor John Fahey, CCE Edward Don & Company President Phillip J. Lattanzio, CCE NACM/Chicago-Midwest Secretary Kerry Jensen, CPA NACM/Chicago-Midwest According to the Association’s Constitution, members may contest the slate of Directors by submitting a petition of 25 regular (Full) Member names to the Secretary of the Board

by March 14, 2018. If you have any questions, please email lillian.novak@nacmconnect.org.

Members are also encouraged to devote the entire Annual Meeting day to the Association, as well as their career, by participating in four one-hour educational sessions scheduled from 9 a.m. – 3:15 p.m. The educational program will offer two tracks of learning.

After the sessions, NACM/ChicagoMidwest President Phillip J. Lattanzio, CCE, will give his State of the Association address and you will also hear from the incoming and outgoing Chairs. This is also one of the premier networking events of the year - enjoy hors d’oeuvres and an open bar which will be available at this time.

•

FEBRUARY 7

Winter 2018: Credit 101 Graduates!

From left: Ana Darie (NorthWest Electrical Supply); Anthony Hurley (ATF, Inc.); Laurie Anderson (ATF, Inc.); Heidi Fisher, CBA (Roadrunner Transportation Services); Instructor Rich Bellis, CCE; Live Videoconferencing (from left): Tabitha Baptista (Waterpik) and Melanie Stollfuss (Condon Companies)

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MARCH/APRIL 2018

PAGE 4

NACM Connect Download program with speakers, schedules and details at www.nacmconnect.org

2018

PLATINUM STAR SPONSOR

NACM CONNECT ANNUAL MEETING The Premier Spring Event for Credit Professionals

April 12

Orlando’s Banquets · Maryland Heights, MO

REGISTRATION I N F O R M AT I O N

www.nacmconnect.org

PRICING:

$199 members, $398 non-members (Two coupons per person are valid).

INCLUDES:

• • • • • •

Access to Full Day of Educational Sessions Annual Meeting Luncheon Breaks in Hospitality Area Online Meeting Materials Online Registrant Directory Networking Event (Open Bar & Hors d’oeuvre)

LOCATION:

Orlando’s Event & Conference Center 2050 Dorsett Village Plaza Maryland Heights, MO 63043

Cancellation Policy: Cancellations must be received in writing, via fax, email or mail no later than one week prior to the meeting date to qualify for a full refund. Cancellations received later than one week prior to the meeting date DO NOT qualify for a refund of registration fees. Sorry, phone cancellations cannot be honored. If you have any questions, please email info@nacmconnect.org.

SPONSORS PLATINUM

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All registrations are taken online at www.nacmconnect.org

While registering online, you will have the opportunity to choose your payment method. We are happy to take a credit card online or invoice you. You will also have the opportunityto apply coupons as allowed.

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MARCH/APRIL 2018 PAGE 5

nacm connect

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MARCH/APRIL 2018

PAGE 6

News

Illinois Construction Stuff and Stuff Norm Cowie, CCE

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t’s sort of weird how you can become an expert at something without necessarily wishing that expertise on yourself. Like feeding my Basset hound. I knew exactly what foods were safe for him to eat, which would cause him to barf in the kitchen, and which simply caused canine gas (Hint, they all caused gas).

So it was by a similar non-design that I became an involuntary expert in sales taxexemption certificates.

Think about it. Who goes out and decides, “I’m going to learn all about resale certificates, Enterprise Zones, and Direct Pay Permits.” Who stays up late at night reading about High Impact Business Designations and Machinery & Equipment Exemptions, or my favorite, Manufacturer’s Purchase Credit Exemptions?

Nobody does! Why? Because there’s no plot. There are no action scenes. No nudity.

No game-winning touchdowns.

But there is a bad guy. Auditors. Bugeating reptiles. And they are the cattle prod that makes it necessary to learn all you can about the quirks and weirdness of the sales tax laws. And worse, the inconsistencies and worse-worse, contradictory instructions, particularly here in Illinois.

Let me give you an example: various persons, documents or some variant of mutant mix of the two from the Illinois Department of Revenue gave us five different and often conflicting instructions regarding the proper way to document Machinery & Equipment Exemptions. Case in point: an electrical firm doing work at a manufacturer’s factory. In this case, often the electrical firm will give us the cert given to them by the manufacturer, an ST-587 signed by the manufacturer showing the contractor as the seller.

1) But previous auditors told us not

to accept this saying the ST-587 should be signed by our customer with us listed as seller.

2) Our most recent auditor said we needed two ST-587’s, the original one our customer tried to give us, plus another with the contractor as

the buyer and us as the seller.

3) When I contacted the Dept of

Rev’s Help site directly, they told us we needed #1, but we also needed a copy of the customer’s contract with the owner.

4) However, if you look at the instructions with the ST-587, it doesn’t say any of this, or that other documentation is necessary other than the ST-587 (which it doesn’t really provide much help in completing).

5) So we obtained a GIL (General Information Letter) from the State, and all it says is we need a form ST-587 that, “identifies with sufficient specificity the machinery and equipment subject to the construction contract.” (and I’m not making this up - the GIL itself contains the following ludicrous statement: “A GIL is not a statement of Department policy and is not binding on the Department.” In other words, “here’s what you need to do, but if you do what we say, you are not protected from us.”

And really, #’s 1, 4 and 5 are almost the same, but when the auditor in the field is breathing down your necks in an audit, well, you have to please the numbercrunching reptile, or you could find yourself in Bassett hound doo-doo.

Here’s another example of auditor contrariness. They have told us in multiple audits that if someone submits a valid CRT-61 resale certificate, we must make a judgment call on whether the purchaser will actually resell the material we sold them. That sort of disagrees with the instructions for the form which actually reads, “A retailer in Illinois is not required to determine if the purchaser actually intends to resell the item.”

certificate any time we complete a credit application. For anything. That’s because we’re usually buying electrical stuff that we will, in fact, resell. But let’s say we are applying for credit for something else, say chairs for our conference room. Our AP department used to go ahead and send our resale certificate, but in this case, we’re not going to resell the chairs, so we should be paying tax.

So sometimes someone sends a resale certificate when it’s not appropriate, and in those instances the auditors have a valid point. I hate saying that, but it’s true.

Our remedy for resale certificates is if the purchaser isn’t a likely purchaser of our material (electrical stuff), we will accept the certificate, but only on the condition that they furnish a letter affirming that they will, in fact, resell the merchandise. We scan the letter to the invoice for future audits.

I could go on about the wonderful, exciting, scintillating quirks of other tax scenarios, but the small amount of caffeine in my decaf-coffee has just about worn off, and I’m feeling a little … ZZzzzzzzzzz… (*Almost all of my previous articles are available in my new book, THE ILLINOIS MECHANICS LIEN STATUTES … AND OTHER CONSTRUCTION STUFF available at NACM/Chicago!)

Norm normcowie.com

•

I could wave this in an auditor’s face all I want, but if it’s not a nice juicy fly, they don’t care.

Norman Cowie, CCE is Director of Credit for Paramont-EO, Inc. Besides his regular column for InterConnection, he has written articles appearing in the Chicago Tribune, Cynic Magazine, Business Credit and the Herald News. His current book titled, "The Illinois Mechanics Lien Statutes … and other construction stuff" is available for sale through NACM Connect. He also has ten published humor/fantasy novels, some through traditional publishers Echelon Press, Quake Books and Draumr Publishing, although more recently he has transitioned over to Indie publishing.

But here’s the weird thing. There’s actually a sound reason for it. Our company is a distributor, so we routinely send our resale

Norm can be reached at norm.cowie@ paramont-eo.com, or feel free to visit him at w w w. n o r m c o w i e . c o m w h i c h f e a t u r e s p a s t NACM Connect articles.

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MARCH/APRIL 2018 PAGE 7

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MARCH/APRIL 2018

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news

My Journey to CCE Caroline Perkins, CCE

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Fast forward to the year 2008……CAP classes were being offered by NACM Cleveland. Now I’d made inquiries into these classes throughout the years but the timing was never quite right.

“

Photo by Nick Morrison on Unsplash

ver 25 years ago, I was in Cleveland attending a credit related seminar in which Robert M. Healy was the speaker. I don’t recall the topic of the class that day but I do remember that Robert was very passionate and proud when, during the latter part of the afternoon, he spoke of earning his CCE (Certified Credit Executive) designation. The more he spoke of it, the more intrigued I became. I decided this was something I would like to pursue “someday”. So a seed was planted that afternoon, one that would not be cultivated for more than two decades. time, I had quite a few years of experience under my belt as did my fellow classmates and we all brought something a little bit different to the table. The class was, in some areas,

I remember shedding a few tears when my CCE plaque arrived in the mail. I continue to be proud of it.

However, in the Fall of 2008, I was able to begin these classes with the Business Credit Principals Class. My class was relatively small, about six students. My instructor throughout the six classes I eventually attended was Sean Pleva of the Sherwin Williams Company. Sean gave of his time to us each week, first on Tuesdays and later on Thursday evenings after having already put in a long day at the office.

I know this was a sacrifice for him as he also was helping to raise his young son, Vinny.

Our group shared a lot of laughs and we learned together. By this

a good review and in other areas, a great learning experience. One of my takeaways has always been The Five C’s of Credit (Character, Capacity, Capital, Collateral and Conditions). To me, the most important one of these is obviously Character. Even if your customer has the other four, if they are not a person of integrity, you still may not be paid. The flip side of that is we all have a few customers with such integrity that they will always find a way to pay us, even if the capacity is a challenge.

I completed the first class and moved on to the Accounting class. I remember most that the book for this

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class as very thick and the homework LONG! The next class was the Financial Statement Analysis Class.

The book for this class was small but contained some very good “nuggets” that helped me greatly in the final exam. (I still refer to this book today when needed.) At this point, I qualified to sit for the CBA (Credit Business Associate) exam. I passed this exam in November of 2010.

Moving on from there, I completed the next three required classes and qualified to sit for the CBF (Credit Business Fellow) exam. I passed this exam in March of 2012. That left the big one…..the daunting CCE! Now I’d heard rumors about this exam……that you are given a list of questions and instead of perhaps an answer page with multiple choices to circle, you are given several sheets of blank notebook paper. Pretty much everything I’d heard proved to be true. I prayed a lot before, during and after this exam for sure and I’m very thankful to say that in November of 2012 I passed the exam and received my CCE designation. I’m sure the heavens were rejoicing with me as I remember shedding a few tears the MARCH/APRIL 2018 PAGE 9

nacm connect - Missouri

NACM CONNECT MISSOURI HONORS AND AWARDS NOMINATION Each year the membership of NACM Connect—Missouri selects fellow members who are active in the organization and whose outstanding performance and accomplishments have made an impact on the credit profession. The lists of qualifications are below. Please indicate which award is being selected. All members are encouraged to nominate someone who has displayed exemplary service in the profession. The awards are selected by the Advisory Board and the NACM Connect Staff and will be presented during the NACM Connect—Missouri Annual Meeting.

Eligibility Criteria 2018 Member of the Year Award

2018 Credit Excellence Award

 Nominated by members, including self-nominaƟons  Nominated by members, including self-nominaƟons  No professional designaƟon (CBA, etc.) required  NACM professional designaƟon (CBA, etc.) required  Recognizes beginners as well as experienced credit pro-  History of involvement with NACM through volunteer-

fessionals

 Can be won mulƟple Ɵmes

ing on the Advisory Board, EducaƟon CommiƩee, teaching/speaking at educaƟonal events including classes, seminars and the annual conference, or serving in another capacity for the beƩerment of the NACM

Nominee Information Name__________________________________________________Company_________________________________________ Address______________________________________City_______________________________State_________Zip________ Phone_____________________________________________ Email________________________________________________

Nominee Qualifications - Indicate NACM involvement, credit accomplishments or achievements or other qualifications. (Attach a separate sheet of paper if necessary) _______________________________________________________________________________________________________

_________________________________________________________________________________ _________________________________________________________________________________ _________________________________________________________________________________ _________________________________________________________________________________ Please provide the following information about yourself Name__________________________________________________Company_________________________________________ Contact Number___________________________________Email Address___________________________________________

Fax this form to Lillian Novak at 847-253-6241

For more information please email Lillian.novak@nacmconnect.org

Nominations Must be Received no Later Than March 1 THE INTERCONNECTION

MARCH/APRIL 2018

PAGE 10

news

My Journey to CCE (cont'd) day my plaque arrived in the mail.

This was like a bucket list item for me; achieving this designation meant so much. As word circulated through the organization, I remember receiving many congratulatory phone calls and emails from my colleagues; both at Mickey Thompson Tires and our parent company, Cooper Tire and Rubber and that I was recognized at our Christmas Party/Awards banquet that year.

Fast forward to 2018…..I continue to be proud of this designation. I’ve renewed my certification once in 2015 and am due to renew again this year by the end of December. I find that by staying active in NACM Connect (I currently serve on both the Education Committee and the Advisory Board) staying active in my company and my

local church, it’s not difficult to achieve the required continuing education points needed to keep my certification current.

In 2016 I was attending the Central Region Credit Conference “Credit Roundup” in Chicago. Robert M. Healy was in attendance at one of the classes in which I was participating. I approached Robert, told him my story of how he had inspired me so many years ago, that I had achieved my CCE designation and was now giving back to the organization that had helped me so much in my career. To his credit, Robert was kind and gracious and he thanked me for letting him know.

We don’t always we get the chance to thank those who have inspired or encouraged us along the way and I’m grateful to have had this opportunity.

To those of you who may be contemplating obtaining your certification, I highly recommend it.

It continues to be one of the great highlights of my career.

And to Robert M. Healy and Sean Pleva, thank you for giving back and for being an integral part of my story.

•

Caroline has been in the credit industry for 33 years. She has served as credit manager for Mickey Thompson Tires, a whollyowned subsidiary of the C o o p e r Ti r e & R u b b e r Company, for the past 29 years. She earned her CCE certification in 2012 from NACM and has participated in numerous credit interchange groups.

She is the winner of the “12th Man Award” in 2012 and the “Ironman Award” in 2014 from Mickey Thompson Tires.

She's been married to Steve for 31 years and with their dog, Lucy, they make their home in Akron, Ohio. They enjoy spending time with their large extended families and are active in their church.

Classes now Available via Live Videoconference!

Register for the

Credit 101, 102, 103 Series Upcoming NACM Connect 2018 Class Dates Credit 101

Credit 102

Credit 103

• --------

• Mar 7

• Apr 4

• Jun 6

• Jul 11

• Aug 8

• Oct 3

• Nov 7

• Dec 5

Registration Information Class Time 9 a.m. – 4 p.m.

Location

NACM Connect Headquarters 3005 Tollview Drive, Rolling Meadows, IL 60008 $230 per class Members

$460 per class Non-Members

Visit www.nacmconnect.org/course-schedules for more locations, information and registration.

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MARCH/APRIL 2018 PAGE 11

midwest business staffing

Credit Career Corner | New Opportunities

www.nacmmidweststaffing.com Job #

Title

Location

792

Accounts Receivable Deductions Analyst

Wixom, MI

• Identify reason and type of deduction • Obtain documentation and deduction details and/or remittance information from customer via email,

phone or portal sites.

• Maintain accurate notes, spreadsheets and supporting documentation with deduction information by customer and deduction type either manually or electronically through ERP systems.

793

Collections Analyst

Romeoville, IL

• Research and resolve past due invoices on customer accounts • Recognize trends on customer accounts and make adjustments to prevent invoices from going past

due

• Review often each day customers' order holds. Analyze account, resolve any discrepancies and

determine if customers' orders can be released

794

Collections Analyst

Downers Grove, IL

• Initiate collection calls to US and Canadian Customers • Resolve client billing problems • Identify issues contributing to account deliquency 795

Credit and Collections Specialist

Chicago, IL

• Communicate with internal and external customers to ensure their accounts receivable responsibility is

as current as possible, while managing exposure in relation to bad debt

• Call customers regarding past due balances • Review new and existing customer orders

Contact Leslie Harrison, leslie.harrison@nacmconnect.org Paula Carruth, paula.carruth@nacmconnect.org

"Opportunities don't often come along, so when they do, you have to grab them."

- Audrey Hepburn

To view all of the available opportunities visit our website at www.nacmmidweststaffing.org THE INTERCONNECTION

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PAGE 12

News

Relationships: Not Just a Sales Skill Set? Joe Lange, CCRA

S

During Jack’s retirement speech he spoke on many subjects, but the subject I thought on the most was the customer relationships he’d forged through the years. Most would argue that customer relationships still exist in today’s fast paced environment, but not the kind of relationship building Jack was speaking of. Jack was talking about the old time kick the tires, pick up the phone, and be more than just a Sales Rep to your customers type relationships.

On that same day, I also bid a happy retirement to one of my Credit & Collections Coordinators, Shirley after 31 years of service to the company.

What a stellar feat! However, as I sat in Jack’s retirement party I contemplated what would I find the following Monday when I started digging through Shirley’s portfolio with her replacement Maddie. I never once questioned that Shirley had not worked hard her final year. I was also certain that when I started digging that I’d not find horror stories… but I knew I’d find certain

Photo by rawpixel.com on Unsplash

hortly after the start of the new year one of my company’s sales reps, Jack Walder retired after fifty years with the company. Every employee of the company was invited as were many of Jack’s customers with whom he’d forged long-time relationships with. I marveled at a letter read by our current president and written by our former president.

The letter told a story of how Jack was the lifeblood of the company’s sales for many years in its early days and how without his accounts and Jack’s relationship building that the company would never have grown into the company it was today.

collections practices I didn’t agree with, small dollar aged invoices where no contact was made, accounts where complacency on how a customer was paying existed, and a myriad of other issues that would require cleaning up.

I’ll avoid the argument that as the Credit Manager I could have pushed harder or conducted more oversight of Shirley’s portfolio. I was certain I’d kept enough finger on the pulse that while the portfolio wasn’t perfect, that no large risks to the company existed. The next week I blocked off the first three days to sit with Maddie, train her in the system, and rolled up my sleeves with Maddie to discover what we were dealing with.

The first hour or two was spent looking at the accounts I knew had issues. I

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communicated to Maddie what was happening on each account and my thoughts on what the go forward plan should be. I kept a few of those accounts on my plate and asked her to follow up on the rest as she started working her aging. Moving past the accounts that posed the biggest dollar risks I opened an account with a 90day old invoice on Net 30 terms and no customer contact. I thought “What the hell!”

I’m not sure what hit me. I apologized to Maddie, picked up the phone, and called the customer. The Accounts Payable phone number listed on the account didn’t work anymore. A quick internet search for the company’s main number later and my fingers were ringing for the receptionist. I quickly introduced myself and asked

MARCH/APRIL 2018 PAGE 13

illinois Download program with speakers, schedules and details at www.nacmconnect.org

2018

NACM CONNECT ANNUAL MEETING The Premier Spring Event for Credit Professionals

April 19

Meridian Banquets · Rolling Meadows, IL

REGISTRATION I N F O R M AT I O N

www.nacmconnect.org

PRICING:

$199 members, $398 non-members (Two coupons per person are valid).

INCLUDES:

• • • • • •

Access to Full Day of Educational Sessions Annual Meeting Luncheon Breaks in Hospitality Area Online Meeting Materials Online Registrant Directory Networking Event (Open Bar & Hors d’oeuvre)

LOCATION:

Meridian Event & Conference Center 1701 Algonquin Road Rolling Meadows, IL 60008

Cancellation Policy: Cancellations must be received in writing, via fax, email or mail no later than one week prior to the meeting date to qualify for a full refund. Cancellations received later than one week prior to the meeting date DO NOT qualify for a refund of registration fees. Sorry, phone cancellations cannot be honored. If you have any questions, please email info@nacmconnect.org.

SPONSORS PLATINUM

GOLD

SILVER

BRONZE

All registrations are taken online at www.nacmconnect.org

While registering online, you will have the opportunity to choose your payment method. We are happy to take a credit card online or invoice you. You will also have the opportunityto apply coupons as allowed.

THE INTERCONNECTION

MARCH/APRIL 2018

PAGE 14

news

After 40 Years, Joan Oswald Retires Themis Vlahos, CCE

A

fter 40 years at Central Steel & Wire, Joan Oswald is retiring. From the members of the Basic Material Credit Group and all of us at NACM Connect, congratulations and the best of luck to you!!

•

Congrats Joan!

Relationships: Not Just a Sales Skill Set? (cont'd) if the Accounts Payable contact I had on file was there. “No,” the receptionist said, “Lisa hasn’t worked here for five years now.” I apologized advising the receptionist my company hadn’t needed to call in about that long and asked for the name and to be transferred to whomever I should be speaking with in Accounts Payable.

It took me under five minutes to forward an emailed copy of the aged invoice, obtain a promise to pay, and

“

information should they need to reach out to my company.

My day spent rolling up my sleeves with Maddie proved that.

Later that evening I thought about my day, the lessons learned, and spent a bit thinking about Jack. In today’s credit and collections world we’ve all grown very accustomed to sending out e-mails to customers asking for invoice status, receiving a reply, and moving on to the next one. It all seems so cold and impersonal at times. I further recalled how one of the candidates

I’ve told my Credit & Collections Coordinators on more occasions than I can count to, “Pick up the phone.”

Everyone I called on my day in the trenches was pleasant. I think a few of the people I spoke to may have enjoyed the diversion of a phone call versus answering emails. Basic human psychology, in my opinion, supports my theory that an Accounts Payable department will be more apt to pay those they’ve talked on the phone with first.

Technology is synonymous with the modern world of credit and collections, but the old ways still work. I still tell people to pick up the phone.

most importantly update the Accounts Payable contact name, phone number, and email address. The next few hours I felt almost like a kid again or should I say the collector I was over 17 years ago when I started in the Credit & Collections world. I actually had a bit of fun as I hammered through maybe 20-30 accounts in the same fashion I did on the first. In each case I ensured I introduced Maddie over the speakerphone to the new Accounts Payable contact and sent an email to the customer so they could easily locate her name and contact

who I interviewed when trying to replace Shirley told me with no uncertainty, “I don’t make collections phone calls.”

I’m a fan of technology. I love it. I’m the epitome of Generation X and the first to forge into the modern world we live in. I’m a huge proponent of using all tools available to make our world and especially jobs easier with technology. I believe technology improves employee production. Technology is synonymous with the modern world of credit and collections, but the old ways still work.

THE INTERCONNECTION

I sincerely hope that Maddie will on occasion reach out to the contacts we made that day. Relationship building is the key to every successful business and shouldn’t be a skillset relegated to sales teams.

•

Joe Lange, CCRA is Credit Manager for Brenntag Great Lakes, LLC in Wauwatosa, Wisconsin. In Credit & Collections since 2001, Joe’s prior credit background experience includes being a Credit Supervisor at Johnson Controls and as a commercial Credit Analyst with Ford Motor Credit Company. He holds a Bachelor of Science degree in Finance from the University of Tampa.

MARCH/APRIL 2018 PAGE 15

nacm connect - missouri

Bowling Event Hosted by NACM Connect Missouri Another successful annual networking/social event.

Lillian Novak, CGA

I

n February the NACM Connect Missouri Social committee hosted their annual member networking event at the Brunswick Zone for an evening of bowling and fun.

Don’t forget to take some time to visit the website at www.nacmconnect.org to stay up-to-date on othr upcoming events. Or contact Rochelle Wilson, your Membership Consultant at rochelle.wilson@nacmconnect.org if you would like more details or have questions.

•

From left: Delilah Morkisz, CBF; Rob Morkisz; Rochelle Wilson; me, Chuck Levy, CCE; DeAnn Ehlers; Kevin Murphy, CCE; Larry Lipschutz, CCE, CICP; Brent Heizelman; Debbie Harper, CCE; Tiffany Sudduth; Phil Lattanzio, CCE.

Your Best Choice for a Win/Win Relationship Did you know that 30% of any contingent fees you pay to Caine & Weiner for services goes to NACM Connect?

NACM Connect members are encouraged to consider Caine & Weiner as their collection agency source. This is important to the association as it provides funding for our essential member services including:

EDUCATION l WORKSHOPS l PUBLICATIONS CREDIT CONFERENCES l NETWORKING EVENTS Terri Cramer

Todd Fierstein

Gateway Region Senior Manager, Client Services

Upstate New York Region Regional Director, Alliance Partner

terri.cramer@caine-weiner.com

todd@nacmconnect.org

502.425-0308

Warren Northern

716.839.1200

Jim McGee

Midwest Region Manager, Client Services

Midwest/WIsconson/Omaha Region Assistant VP, Client Services

warren.northern@caine-weiner.com

jim.mcgee@caine-weiner.com

847.407.2330

THE INTERCONNECTION

847.407.2348

MARCH/APRIL 2018

PAGE 16

news

Welcome New Members and Reps New Representatives

New Members Anthony Hurley ATF, Inc.

Heidi Fisher Roadrunner Transportation Services

Gail Elder Alter Trading Corporation

Linda Bancroft BFG, Supply

Matt Leitenberger SGI Matrix LLC

Misti Tabor Barrett Paving Materials, Inc.

Kim Avery BlastOne International

Milton Barnes Sun Chemical Corporation

Mary Jo Markowski Biewer Lumber

Stacey Myers Bluescope Steel North America

Susan Thomas, CCE

Aubri Cannon Bluescope Steel North America

GeraLayne Pisarski Carlin Sales Corporation Yvette Williams Carlisle Brake & Friction Bri Stankus Comfort Research

Kendra Gerdes Systems, Inc. Kimberly Mooney Thermal Mechanics Inc. Tim Vandenberg Vandenberg Bulb

Brett Wingart Bob Evans Farms Madalyn Arcuri Brenntag Great Lakes, LLC David Schnepper Crop Production Services

Carol Mackaey Contemporary COntrol Systems

Lorraine Donnelly Eli Lilly & Co.

Meley King Dynamic Logistix

Becky Merle Ericksons Flooring & Supply

Marie Lowery GHS Federal Credit Union

Tosha Romanoff Evapco Inc. Jennifer Webb Gardner Inc.

James Erickson Graybar Electric John Sheehy L&W Supply

Marijane Thayer Harman Music Group

Larry Durrant

Roger Lee Ingram Content Group

Sondra Circle Midland Garage Door Mfg. Co.

Melissa Alfeld Nesco Rentals

Todd Lystad Owens Corning FIberglass Corp.

Mary Dionisi O&I Transport, Inc.

Scott Goodrich Owens Corning FIberglass Corp.

Jena Martin Plumbers Supply Co.

Cindy Vollmer Palmer Donavin Manufacturing

Diana Lutz SAF Hollad USA, Inc.

Kat FInucane Paychex, Inc.

Sharon Wittaker Spartan Chemical Co., Inc.

Chris Birdwell Pioneer Balloon Company

THE INTERCONNECTION

MARCH/APRIL 2018 PAGE 17

news

NACM Connect Welcomes New Staff Members Tracy Lattanzio Accounting Administrator

NACM Connect is happy to introduce you to our new Accounting Adminstrator, Tracy Lattanzio.

Tracy earned her undergraduate degree in Marketing from Northern Illinois University and her MBA from DePaul University. She worked in marketing and finance positions for a manufacturing company until deciding to stay at home full-time after the birth of her daughter in 2001. She has worked part-time from home for her previous employer since 2002, and for NACM Connect since 2009, helping out with education and the NTCR database. In her free time, Tracy enjoys gardening, music, and spending time with family.

Tracy can be reached by phone at 847.483.6406 or by email at tracy.lattanzio@nacmconnect.org.

Nancy Watson-Pistole CCE, ICCE, CGA Regional Manager- Kansas/Western Missouri

NACM Connect is happy to introduce to you our new Regional Manager Kansas/Missouri, Nancy Watson-Pistole CCE, ICCE, CGA. Nancy will be responsible for membership sales and group services in Kansas and the western Missouri area. She earned her Bachelor of Science degree in Business Administration from Park University, graduating Summa Cum Laude. Nancy is located in Shawnee, KS and has spent her entire career in credit and collections management spanning many industries which include, metal buildings, health care, meat packing, animal nutrition, paper and promotional products.

She’s passionate about promoting education, training and professional certifications in the world of B2B credit and helping credit professional be successful in their careers.

Nancy can be reached in her office at 913.298.1890 and by email at nancy.watson-pistole@nacmconnect.org.

Rich Steinkoenig Credit Solutions Consultant

NACM Connect is happy to introduce to you our new Credit Solutions Consultant, Rich Steinkoenig.

Rich will be responsible for providing right fit solutions to our members in the MO, KS and MI territories. He will educate our members on credit reporting services, available classes and conferences as well as sales and marketing, supply chain, and compliance solutions. Rich earned a degree in finance from Western Illinois University. His career includes a Senior Business Analyst and Risk Management Specialist with Dun & Bradstreet and the Global Credit Manager at Maui Jim Sunglasses. When Rich is not helping his clients, he likes to spend time with his family and on the golf course.

He can be reached at 314.677.2804 or rich.steinkoenig@nacmconnect.org.

THE INTERCONNECTION

MARCH/APRIL 2018

PAGE 18

news

Customer Centric Collections "Strive not to be a success, but to be of value" - Albert Einstein Nikki Dennis

W

hat would happen if instead of concentrating on the immediate goals of reducing bad debt and increasing cash flow, you strive to help others, to help your customers first and foremost? Strive to create value for your customers? If you can have quality interactions with your customers in all areas of your business every time, then the success will follow.

Customer centricity, quite simply, is the act of placing the customer at the centre of everything you do. It is certainly not a new thing, customer centricity before the onslaught of globalisation and widespread use of the internet, happened naturally, often as part of the community in which you lived. You know what we’re talking about here; the local grocers, butchers, fish and chip shop owners and bartenders that knew not just your name but your ‘usual’ order and very probably everything from the name of your first born to how many sugars you take in your tea!

This sort of customer knowledge still exists today in smaller communities but for many of us globalisation, the internet explosion and digitalisation has meant that many companies never set eyes upon their customers, making any interactions they do have with them increasingly important.

The effect the internet has had on business over the past 30 years is mind blowing; according to Cisco analysis (1)*, in 2012, 8.7 billion devices were connected to the Internet. In 2020, that number is expected to soar to 50 billion. More and more transactions are digital negating the need for face to face interactions and competition is rife, making it harder to build loyalty amongst customers.

And yet….with the rise of corporate social responsibility, customers are expecting and demanding much greater customer experiences than they ever have. As Sheryl

Connelly, Ford’s in-house futurist notes from Ford’s 2017 Global Trends Report (2)*, the need to belong to a community is strong all around the globe, and people expect businesses to play a role in that community and give back. In fact, 88% of women and 83% of men are more likely to support companies that prioritise purpose over profit according to the report.

What’s more, in the absence of a less than favourable experience, they are more than willing to take to social media to share their negative experience before taking their business elsewhere.

With this insatiable need for great customer experiences, people are willing to pay more to achieve this and according to research conducted

by Deloitte and Touche in 2015 (3)*, customer centric companies were found to be 60% more profitable compared to companies that were not focused on the customer.

Compelling evidence, but most companies make the mistake of applying customer centricity to their frontline activities and forget about the back office, support and head office functions.

To truly have the customer at the core of your business this model has to apply to each customer touch point and as such, collections can play a pivotal role in this approach.

So exactly how can customer centricity be applied in a collections environment?

Remember first and foremost, that your frontline staff are the face of your business and invest in them. Many companies now refer to a ‘relationship hub’ rather than the traditional call centre where agents are multi-skilled and have insight into the holistic file of a customer including any products/services they utilise and full payment history. This creates a full

THE INTERCONNECTION

customer experience where a customer may call up to discuss a new product or service and at the same time as addressing this query, the agent is then able to remind the customer that actually they currently have an amount owing on their account about to fall overdue, would they like to settle that now? This sort of interaction makes it far easier for the customer to have one contact point to discuss all queries and portrays a real sense of customer knowledge.

Remember to PLEASE your customers and PLEASE your business by structuring your collections processes around the requirements of the customer……

So let’s look at each of these requirements in a little more detail…….

Protect • Protect your customer from spiralling debt and in turn protect your brand encouraging repeat business and referrals. How do you stop debt getting out of control for your customer?

•

Make sure you communicate clearly what your payment terms are.

•

Set up reminders before the debt becomes overdue.

•

SMS/Email/Integrated Voice Recording Campaign reminders can provide cost effective methods of recouping debt at an early stage MARCH/APRIL 2018 PAGE 19

new york Download program with speakers, schedules and details at www.nacmconnect.org

2018

NACM CONNECT ANNUAL MEETING The Premier Spring Event for Credit Professionals

April 24 & 25

Rochester Airport Marriott · Rochester, NY

REGISTRATION I N F O R M AT I O N

www.nacmconnect.org

PRICING:

$269 members, $538 non-members (Two coupons per person are valid).

HOTEL (OPTIONAL) :

$130 per night - Rochester Airport Marriott

INCLUDES:

• • • • • •

Access to Full Day of Educational Sessions Annual Meeting Luncheon Breaks in Hospitality Area Online Meeting Materials Online Registrant Directory Networking Event (Open Bar & Hors d’oeuvre)

LOCATION:

Rochester Airport Marriott 1890 W Ridge Road Rochester, NY 14615

Cancellation Policy: Cancellations must be received in writing, via fax, email or mail no later than one week prior to the meeting date to qualify for a full refund. Cancellations received later than one week prior to the meeting date DO NOT qualify for a refund of registration fees. Sorry, phone cancellations cannot be honored. If you have any questions, please email info@nacmconnect.org.

SPONSORS PLATINUM

GOLD

SILVER

BRONZE

All registrations are taken online at www.nacmconnect.org

While registering online, you will have the opportunity to choose your payment method. We are happy to take a credit card online or invoice you. You will also have the opportunityto apply coupons as allowed.

THE INTERCONNECTION

MARCH/APRIL 2018

PAGE 20

NEWS

Customer Centric Collections (cont'd) in the collection cycle. Often at a reminder stage customers just require the ability to self-serve, so automated options work well and can be less intimidating.

•

Apply credit scoring where applicable.

•

Segment your customers according to your perceived ability for them to pay and apply tailored workflows to each segment.

“

•

Engage 87% of the world’s population use mobile devices and here within Australia there are more smartphones than people. If you don’t have digital communication options to engage your customer then you will get left behind. What are the new and emerging ways to engage your customer?

Customer centricity, quite simply, is the act of placing the customer at the centre of everything you do. It's not a new thing. Before globalisation and the internet, customer centricity happened naturally, often as part of the community in which you lived.

Listen In this modern environment, it is often easy to forget the value of talking to customers and truly understanding their requirements.

So what makes a good listener?

• Empathy – Employees that are in regular contact with customers should have the ability to empathise and care about the customers’ situation. Only then should they attempt to come up with a suitable solution.

•

adherence to scripting does not allow employees to actively listen and suitably respond, and will not make for a great customer experience.

Open mind – No employee should enter a conversation with a customer with preconceived ideas about what the customer is going to say. Typically within a collections department this is easier said than done as generally seasoned accounts receivable staff would have, over their lifetime, heard every possible excuse for not paying a bill on time. However, to enter a conversation with a negative mindset will influence the outcome of the call.

Each customer should be given the benefit of the doubt and listened to properly with an open mind.

Ensure that agents handling calls are appropriately skilled and, within certain guidelines of course, are able to take ownership of the call. Strict

Automated self-service options • Online Portals enable customers to pay their bills, access account details, print off statements and communicate in a less intimidating and more convenient way 24/7.

•

QR links on letters or in SMS/Email communication enable your customer to easily access your online system and to communicate regarding their bill. QR links on SMS reminders can work particularly well, within a few clicks the customer can have the bill settled or can contact their account manager.

•

Integrated Voice Recording (IVR) Campaigns allow a pre-recorded message to be sent to your customers with clear options like press 1 to pay, press 2 if you are experiencing difficulties paying, press 3 to speak to an operator. Many customers prefer not having to speak directly to anyone particularly at the reminder stage and find it more convenient to self-serve.

•

Interactive SMS communication enables two-way communication via SMS where customers are routed to a live agent.

THE INTERCONNECTION

•

Live web chat provides a convenient way for your customer to get the answers they need without having to pick up the phone.

Assist • Assistance for Vulnerable Customers • At the time of writing and according to the Australian Debt Clock, Australia’s household debt sits at 190% of disposable income. In other words, for every $1 saved, the average Aussie owes $3. This is the highest level of household debt in recorded history.(4)* • In the current environment vulnerable customers should have access to third party assistance where required and companies should have detailed hardship policies and strategies in place to assist the customer in clearing their debt.

• The most effective hardship programs don’t just apply credits and write offs, as whilst appropriate in certain cases, a more sustainable solution is required to provide support to customers to pay off their debt and to educate them to ensure they don’t end up in the same position again.

• Most customers would prefer to be given the tools to help themselves as this is ultimately more satisfying and more beneficial long term.

Support It is essential that the correct support is provided to customers when required whether that is support that can be provided internally or externally.

• Any employees directly interacting with your customers should be genuinely listening and gaining a true understanding of the customer’s situation and ability to repay the debt, ensuring any arrangements entered into are a true reflection of what they can afford.

• They should also be aware of the trigger words that could indicate a financial or emotional hardship and respond with appropriate help and support. Words such as unemployed, bereaved, pensioner and illness for example should be flagged as an indicator that the customer is potentially having difficulties in meeting

Continued on page 27 >> MARCH/APRIL 2018 PAGE 21

Credit Group Meeting calendar NACM Connect Illinois/Wisconsin Local Industry Credit Group Meetings DATE

GROUP

MEETING LOCATION

March 8

Builders Suppliers Credit Group

Weber Grill, Lombard, IL

March 8

Northern Illinois Heating & Plumbing Wholesalers Credit Group

Devon, Oak Brook Terrace, IL

March 13

Electrical Distributors Credit Group

Ditka's, Oak Brook Terrace, IL

Institutional Credit Association Credit Group

Ditka's, Oak Brook Terrace, IL

March 15

Ad Media Credit Group

TBA

March 20

WISCA Credit Group

Parker's, Downers Grove, IL

Metal Distributors Credit Group

Ditka's, Oak Brook Terrace, IL

March 22

Basic Material Credit Group

Devon, Oak Brook Terrace, IL

April 10

Electrical Distributors Credit Group

Ditka's, Oak Brook Terrace, IL

April 12

Northern Illinois Heating & Plumbing Wholesalers Credit Group

TBA

April 17

Metal Distributors Credit Group

Michael Jordan's, Oak Brook Terrace, IL

April 18

Floor Covering & Wall Tile Credit Group

NACM Connect, Rolling Meadows, IL

April 19

Ad Media Credit Group

WCIU-Weigel Broadcasting, Chicago, IL

WISCA Credit Group

Ditka's, Oak Brook Terrace, IL

Basic Material Credit Group

Ditka's, Oak Brook Terrace, IL

April 26

NACM Connect National Industry Credit Group Meetings March 6-8

National Lawn & Garden Equipment Credit Group

Jekyll Island Club, Jekyll Island, GA, 2-day

March 8

National Paper Packaging Credit Group

Hotel Zoe, San Francisco, CA

March 8-9

National Suppliers to Window Manufacturers Credit Group

Doubletree Tampa Bay, Tampa, FL, 2-day

March 14-16

National Manufactured Housing Credit Group

The Menger HotelSan Antonio, TX, 2-day

March 15-16

National Electrical Manufacturers Credit Group

GALLERYOne-Doubletree, Ft. Lauderdale, FL, 2-day

March 15-16

National Underground Utilities Supply Credit Group

Sheraton Hotel, Birmingham, AL, 2-day

March 21-22

National Firearms and Ammunition Credit Group

Embassy Suites Buckhead, Atlanata, GA, 2-day

March 22-23

National Metal Producers Credit Group

Holiday Inn Center City, Charlotte, NC, 2-day

March 22-23

National Tool & Accessories Manufacturers Credit Group

Doubletree O'Hare, Rosemont, IL, 2-day

April 3-5

National Agricultural Credit Conference

Marriott San Diego Gaslamp Quarter, San Diego, CA, 2-day

April 11-12

National Water Products Credit Group

Royal Sonesta Hotel, Baltimore, MD, 2-day

April 16-17

Law Firm Forum Credit Group

Barnes & Thornburg, Chicago, IL, 2-day

April 17

National Professional Apparel Credit Group

TBA

April 18-20

Meatpackers of America Credit Group

B Ocean Resort, Fort Lauderdale, 3-day

April 24-27

National Home, Nursing & Food Credit Groups

B Ocean Resort, Fort Lauderdale, 4-day

April 26

National Garage Door & Operating Devices Credit Group

Courtyard Marriott Las Vegas Convention Center, Las Vegas, NV

April 19 -20

National Steel Mill Credit Group

Embassy Suites, San Diego, CA, 2-day

THE INTERCONNECTION

MARCH/APRIL 2018

PAGE 22

Credit Group Meeting Calendar NACM Connect Indiana/Michigan/Ohio Local Industry Credit Group Meetings DATE

GROUP

MEETING LOCATION

March 1

Michiana Credit Association Credit Group

Luchesse's, Elkhart, IN

March 8

Indiana Wholesale Floor Covering Credit Group

Conference Call

Columbus Wholesale Electric Supply Credit Group

Becker Conference Room, Columbus, OH

March 13

Electric Industrial Supply Credit Group

Pietro's, Grand Rapids, MI

March 14

West Michigan Heating & Plumbing Wholesalers Credit Group

Brann's, Wyoming , MI

March 15

Fort Wayne Building Materials Credit Group

Don Hall's Gas House Restaurant, Fort Wayne, IN

Cincinnati Dayton Wholesale Electric Credit Group

Century Inn, Cincinnati, OH

Indiana Electrical Suppliers Credit Group

Becker Conference Room, Indianapolis, IN

Automotive Suppliers Credit Group

Conference Call

Indianapolis Building Trade Suppliers Credit Group

Blueberry Hill, Indianapolis, IN

Michigan Electric Supply Credit Group

Antonio's, Canton MI

Plumbing & Heating Wholesalers Credit Group

Blueberry Hill, Indianapolis, IN

Metal Service Center Credit Group

Antonio's, Canton MI

Cincinnati Construction Suppliers Credit Group

Uno Pizzeria & Grill, West Chester, OH

Cleveland/Akron/Canton Food Suppliers Credit Group

Iaomini's/Papa Joe's, Akron, OH

TBD

Lumber & Building Materials Credit Group

Pietro's, Grand Rapids ,MI

April 10

Electric Industrial Supply Credit Group

Main Street Pub, Kalamazoo, MI

April 11

West Michigan Heating & Plumbing Wholesalers Credit Group

Brann's, Grand Rapids, MI

April 12

Michiana Credit Association Credit Group

Luchesse's, Elkhart, IN

Columbus Wholesale Electric Credit Group

Becker Conference Room, Columbus, OH

Indiana Electrical Suppliers Credit Group

Becker Conference Room, Indianapolis, IN

Automotive Suppliers Credit Group

Conference Call

Indianapolis Building Trade Suppliers Credit Group

Blueberry Hill, Indianapolis, IN

Michigan Electric Supply Credit Group

Mojave Cantina, Clawson, MI

April 19

Cincinnati Dayton Wholesale Electric Credit Group

Century Inn, Cincinnati, OH

April 20

Fort Wayne Building Materials Credit Group

Don Hall's Gas House Restaurant, Fort Wayne, IN

April 25

Plumbing & Heating Wholesalers Credit Group

Blueberry Hill, Indianapolis, IN

Metal Service Center Credit Group

Antonio's, Canton, MI

Cincinnati Construction Suppliers Credit Group

Uno Pizzeria & Grill, West Chester, OH

Cleveland/Akron/Canton Food Suppliers Credit Group

Iacomini's/Papa Joe's, Akron, OH

March 20

March 21

March 28

April 17

April 18

THE INTERCONNECTION

MARCH/APRIL 2018 PAGE 23

Credit Group Meeting Calendar NACM Connect - Missouri Local Industry Credit Group Meetings DATE

GROUP

MEETING LOCATION

March 14

Electrical Distributors Credit Group

Bartolino's, St.Louis, MO

March 16

Refrigeration & Warm/Cool Air Suppliers Credit Group

Bartolino's, St.Louis, MO

March 20

Midwest Regional Food Credit Group

Gateway Office

Agricultural Credit Group

Il Bel Largo, Creve Couer

April 11

Cat Dealer Credit Group

Gateway Office 2:00 p.m.

April 17

Midwest Regional Food Credit Group

Gateway Office

April 18

Electrical Distributors Credit Group

Bartolino's, St.Louis, MO

April 20

Refrigeration & Warm/Cool Air Suppliers Credit Group

Bartolino's, St.Louis, MO

NACM Connect - Nebraska Local Industry Credit Group Meetings DATE

GROUP

MEETING LOCATION

March 20

Omaha Builders Credit Group

Teleconference

April 17

Omaha Builders Credit Group

Teleconference

NACM Connect - New York Local Industry Credit Group Meetings DATE

GROUP

MEETING LOCATION

March 8

Rochester Plumbing & HVAC Credit Group

Humphrey House, Penfield, NY

March 9

Buffalo Building & Construction Credit Group

Eagle House, Williamsville, NY

March 13

Western New York Food & Beverage Supply Credit Group

Ilio DePaolo's Restaurant, Blasdell, NY

March 15

Rochester Building Credit Group

Cerame's Restaurant, Rochester, NY

March 19

Erie Building Credit Group

Ruby Tuesday's Erie,PA

March 20

Central New York Building Credit Group

Coleman's Syracuse, NY

March 27

Buffalo Plumbing & Electric Credit Group

Eagle House, Williamsville, NY

March 28

Upstate NY Energy Credit Group

Conference Call

April 10

Western New York Food & Beverage Supply Credit Group

Ilio DePaolo's Restaurant, Blasdell, NY

April 12

Rochester Plumbing & HVAC Credit Group

Humphrey House, Penfield, NY

April 13

Buffalo Bldg./ Const. Credit Group

Eagle House, Williamsville, NY

April 16

Albany Building Credit Group

Scarborough's Albany, NY

April 17

Central New York Building Credit Group

Coleman's Syracuse, NY

April 19

Rochester Building Credit Group

Cerame's Restaurant, Rochester, NY

April 24

Buffalo Plumbing & Electric Credit Group

Eagle House, Williamsville, NY

April 25

Upstate NY Energy Credit Group

Conference Call

THE INTERCONNECTION

MARCH/APRIL 2018

PAGE 24

Event Calendar DATE

EVENT

LOCATION

TIME

PRESENTER / INSTRUCTOR(S)

March 6

NACM Connect Indiana - Elkhart Credit 101

Mid City Supply Co. Inc., Elkhart, IN

9 a.m. – 4 p.m.

Jim Montague, CCE

March 7

NACM Connect Credit 102

NACM Connect Rolling Meadows, IL

9 a.m. – 4 p.m

Rich Bellis, CCE

March 8

NACM Connect Illinois - Schaumburg Emerging Leader Series

Bar Louie Schaumburg Schaumburg, IL

5 p.m. – 7 p.m

Robb Hill

March 12

NACM Connect Business Law

NACM Connect Rolling Meadows, IL

5:30 p.m. – 8:30 p.m

John Jaeger, CCE

NACM Connect Business Credit Principles

NACM Connect Rolling Meadows, IL

5:30 p.m. – 8:30 p.m

Jason Bogardt, CCE

March 13

NACM Connect Webinar My Customer Filed Bankruptcy: Now What?

________________________

10 a.m. – 11:15 p.m.

Bruce S. Nathan

March 13

NACM Connect Indiana - Elkhart Proactive Collections and Communications Seminar

Baymont Inn & Suites Elkhart, IN

8:30 a.m. – 4 p.m.

Richard Bellis, CCE

March 14

NACM Connect Ohio - Columbus The Art of Getting Paid Seminar

Star Leasing Columbus, OH

8:30 a.m. – 4 p.m.

Barry J. Elms

March 14

NACM Connect Michigan - Grand Rapids Legal Seminar

Crystal Flash Grand Rapids, MI

12 p.m. – 4:30 p.m.

Lisa Gretchko Jim Morgan

March 15

NACM Connect Financial Statement Analysis I

NACM Connect Rolling Meadows, IL

5:30 p.m. – 8:30 p.m

Larry Grogan, CCE

March 15

NACM Connect Indiana - Fort Wayne A Credit Professional's Guide to Financial Statements Seminar NACM Connect Ohio - Cincinnati Roundtable Discussion

Don Hall’s Guesthouse Hotel Conference Center, Fort Wayne, IN

9 a.m. – 12:30 p.m.

Susan Thomas, CCE

Fechheimer Brothers Co.

11:30 a.m. – 1:30 p.m.

Jay Zimmerman John Hoffert

March 22

NACM Connect Wisconsin - Sheboygan Best Practices Discussion Group

Pier 17 Restaurant Sheboygan, WI

12 p.m. – 2:30 p.m.

Tom Fawkes Brian Jackiw

April 4

NACM Connect Credit 103

NACM Connect Rolling Meadows, IL

9 a.m. – 4 p.m

Rich Bellis, CCE

April 9

NACM Connect Illinois - Chicago SAP Credit and A/R Users Group Meeting

NACM Connect

9 a.m. – 4 p.m.

Linda Hass

NACM Connect Ohio - Cleveland Credit 101

Kaufman Container Company

9 a.m. – 4 p.m.

Gary Paul, CBA

NACM Connect Ohio - Dayton Credit 101

NACM Connect

9 a.m. – 4 p.m.

Tom Shimko, CCE

NACM Connect Missouri - St. Louis Annual Meeting

Orlando’s Event & Conference Cen-

9 a.m. – 5 p.m.

Varies

NACM Connect Ohio - Cincinnati UCC/LIENS Seminar

Fechheimer Brothers CO.

8:30 a.m. – 12:30 p.m.

Jerry Bailey, NCS

NACM Connect Ohio - Toledo Financial Statement Analysis I

Toledo/Sylvania Township Branch

3:30 p.m. – 6:30 p.m

David Condon, CCE

NACM Connect Ohio - Beachwood UCC/LIENS Seminar

OMNOVA Solutions Inc.

8:30 a.m. – 12:30 p.m.

Jerry Bailey, NCS

NACM Connect Michigan - Zeeland Roundtable Discussion

Herman Miller Inc.

11:30 a.m. – 1:30 p.m.

Mark Lothschutz

NACM Connect Illinois - Chicago Annual Meeting

Meridian Event & Conference Center

9 a.m. – 5 p.m.

Varies

NACM Connect New York - Rochester Annual Meeting

Marriott Rochester Airport

9 a.m. – 5 p.m.

Varies

March 20

April 10

April 10

April 12

April 17

April 18

April 18

April 19

April 19

April 24 & 25

Cincinnati, OH

Rolling Meadows, IL

Cleveland, OH

Dayton, OH

ter, Maryland Heights, MO

Cincinnati, OH

Public Library, Toledo, OH

Beachwood, OH

Zeeland, MI

Rolling Meadows, IL

Rochester, NY

THE INTERCONNECTION

MARCH/APRIL 2018 PAGE 25

nacm southwest collections

If Accounts Receivable is a cash flow problem,

For more information on how we can collect for your company locally, nationally or internationally contact us today!

Try NACM Southwest

Kelly Hall 317-225-4281 kelly.hall@nacmconnect.org

Discover how our association is different from collection agencies...we can turn your debt into cash assets at a price no one can beat!

NACM Connect has partnered with NACM Southwest to bring you a great collection service.

NACM Southwest 751 Plaza Blvd.

Coppell, TX 75019 972.518.0019 www.nacmsw.com

THE INTERCONNECTION

MARCH/APRIL 2018

PAGE 26

news

Customer Centric Collections (cont'd) Continued from page 21

•

the payment and may require further support.

Your team should have easy access to third party assistance if required in the form of financial counselling or emotional support.

Educate Have clear guidelines detailing what you expect from your customer and ensure that the fair and reasonable consequences of not fulfilling these requirements are communicated. To a certain extent your customers will treat you how you allow them to, consistency in your approach is the key.

• Have a clear collection strategy that

is followed every month with set

workflows determining the issuing of reminders and final notices and referral to external collection agencies.

• •

Have clear and concise invoices with a choice of different payment options.

Encourage engagement at an early stage to identify any potential disputes and to ensure that your customers are made aware of the consequences of non-payment eg. freezing the account, disconnection, collection escalation action. If you don’t have the resources to accommodate this then outsource this early reminder work.

How do you ensure your outsourced partners can apply customer centric collections?

Not too long ago you would have been hard pushed to find the words collection agency and customer centricity in the same sentence. Customer Centricity for us in the collections business is twofold as it applies not just to our clients but to their customers, the end users of our service.

With so many major brands embracing customer centricity, it is increasingly important for collection agencies to adopt a customer centric approach themselves.

Often viewed as an extension of the clients’ organisation, it is important that the values and approaches of collection agencies are closely aligned to them.

Interestingly, adopting a customer centric approach has consistently been shown to increase collections, creating a win/win

or rather a win/win/win for the client, their customer and the agency. A collection call doesn’t have to be viewed as a battle where either the debtor or collector are victorious but rather a customer centric interaction where you can assist the customer to clear their debt and improve their cash flow, whilst also increasing collections for the client. It is a shift in mindset and culture and most collection agencies now will refer to the ‘customer’ as opposed to the ‘debtor’ which can have negative connotations. This all ties in with agents keeping an open mind; you are not ‘collecting from a debtor’ but ‘assisting a customer’. This approach is a lot more positive, and as such, has a higher chance of a better outcome for all parties.

So, for an outsourcing partner that can mirror your customer centric approach, how do you assess how customer centric a collection agency is?

1. Do they facilitate call calibration sessions where both parties can score calls according to predetermined requirements?

2. Instead of focussing only on dollars collected, are there also KPI’s in place for quality conversations and assistance and support for customers?

3. Do they have a dedicated and specialised hardship division that can immediately assist with vulnerable customers?

and long standing mutually beneficial relationships. Nail this, and it will increase cash flow for your business as well as clearing debt and freeing up cash flow for your customers, creating peace of mind and encouraging brand loyalty.

•

Bottom line, if you don’t look after your customers, someone else will!

References (1)* http://blogs.cisco.com/news/ciscoconnections-counter (2)*https://www.fastcompany.com/3066270/ heres-what-consumer-behavior-is-tellingus-about-2017-according-to-ford (3)*https://www2.deloitte.com/content/dam/ Deloitte/ie/Documents/Strategy/2014_ customer_centricity_deloitte_ireland.pdf 4)* http://www.australiandebtclock.com.au/•

Nikki Dennis is Sales Director at Australian Receivables Limited (ARL) and can be contacted on 0437 652 562 or nikkidennis@arlcollect.com. au. ARL is a leading national collection agency, assisting many major companies across key industry sectors with their customer centric collections..

4. Can they provide a range of digital solutions to engage your customer including customer self-serve options, smartphone friendly solutions, Interactive SMS/IVR services, QR links.

5. Are they socially responsible? Do they give back to the community?

6. Do they listen properly to your needs and tailor services specifically?

Ultimately, the modern day collections team, whether internal or external, needs to help customers better manage their money and clear their debt; better inform customers about their existing debt; assist customers to resolve outstanding account issues and strive to improve overall value for customers to ensure repeat business

THE INTERCONNECTION

MARCH/APRIL 2018 PAGE 27

• Apply surcharge fees to most Visa, MasterCard, Discover, and American Express payments • Eliminate compliance exposure Don’t forget to ask about your

• Smart surcharge calculation will apply the fee automatically • Card validation occurs at the point of entry so that only qualified payments are surcharged

MEMBER DISCOUNT

• Surcharging notification and disclosure requirements will be provided • No software to purchase

NACM’S UTA REPRESENTATIVE: MICHAEL WILLIAMS Michael has served the NACM Membership as Vice President of NACM Relations for over twenty years. A familiar face within the NACM, Michael has partnered with NACM Members of all sizes to introduce to introduce creative solutions for credit card surcharging and for providing simple, cost effective credit card alternatives.

Phone: 305-606-6703 or 786-264-7019 Email: mwilliams@unitedtranzactions.com

www.unitedtranzactions.com

THE INTERCONNECTION

MARCH/APRIL 2018

PAGE 28

news

Vantiv and Worldpay Complete Combination to Form Worldpay, Inc. Andrew Ciafardini

U

TA is excited to announce that our partner, Vantiv, the largest credit card merchant acquirer in the U.S., has completed the acquisition of Worldpay Group plc, a leader in technology-led payment solutions. The combined company, named Worldpay, Inc., is now the #1 Global Merchant Acquirer, processing more than 40 billion transactions annually across 146 countries and 126 currencies.

This merger creates new opportunities that will further expand the 19 year partnership with the NACM and its members. This newly integrated payment platform will enable Worldpay to offer NACM members distinguished products, including value-added services and superior data analytics that extends an unrivaled client value proposition.

We welcome you to join us in sharing thefollowing press release which contains additional details on this acquisition.

Vantiv, Inc., a leading provider of payment processing services and related technology solutions for merchants and financial institutions in the U.S., announced today that it has completed its acquisition of Worldpay Group plc, a leader in technology-led payment solutions. The combined company, named Worldpay, Inc. (NYSE: WP; LSE: WPY), creates a leading payments provider uniquely equipped to power global integrated omni-commerce, processing more than 40 billion transactions annually through more than 300 payment types across 146 countries and 126 currencies.

The proposed combination of the two companies was announced on August 9, 2017.

Worldpay, Inc.’s class A common stock will begin trading today on the New York Stock Exchange under the symbol “WP” and on the London Stock Exchange via a secondary standard listing under the symbol “WPY.” Executives of the new Worldpay - which today becomes the #1 Global Merchant Acquirer1 able to accept payments from geographies covering 99 percent of global GDP - will ring the Closing Bell of the New York Stock Exchange to celebrate the first day of trading as the newly combined company.

Our combination is transformative for our colleagues, customers and the worldwide payments industry,” said Charles Drucker, executive chairman and co-CEO of Worldpay, Inc. “We would not be here without the enthusiasm, dedication and hard work of all our people, who will continue to forge the future of payments. By combining the expertise of our teams, we will provide further value to our customers, helping them prosper in the fast-changing and complex digital economy.”

analytics capabilities. Charles and I look forward to delivering this value to our customers across the world.”

This new global payments leader will have a pro forma enterprise value of $31 billion (£23 billion), processing over US$1.5 trillion (£1.1 trillion) in payment volume.

•

Philip Jansen, co-CEO of Worldpay, Inc., said, “The new senior leadership team is in place and has already begun to implement our plan to integrate the two businesses, delivering new value for customers, realizing cost synergies and capturing revenue opportunities that will benefit our shareholders. This will be evidenced as Worldpay creates customer-centric innovation at scale, leveraging our combined operations, technology infrastructure and data and

THE INTERCONNECTION

MARCH/APRIL 2018 PAGE 29

nacm connect

My Customer Filed Bankruptcy: Now What?

Tuesday, March 13, 2018 10 am - 11:15 am CT (75 minutes)

Bankruptcy Code Section 503(b)(9) has also significantly enhanced trade creditor rights by granting goods sellers whose customer has filed bankruptcy an administrative priority claim for the value of their goods received by the Debtor within 20 days of bankruptcy. The speaker will also discuss how to assert this priority claim, the significant litigation concerning Section 503(b)(9)’s requirements and the defenses to priority status that seek to limit or defeat recovery by trade creditors, and the advantages of this claim over reclamation rights.

WEBINAR

About the Webinar It’s the moment you most dread: you find out that your customer has just filed a Chapter 11 bankruptcy case. This 75-minute webinar will cover: • The circumstances where credit providers can exercise their UCC adequate assurance, stoppage of delivery and reclamation rights to expedite the payment of their claims.

• The importance of understanding the papers filed at the beginning of a bankruptcy case, the risk of doing business with a chapter 11 debtor that has not yet obtained the approval of financing or use of cash collateral.

• The impact of the automatic stay that arises when bankruptcy is filed, critical vendor protection, filing a proof of claim and responding to an objection to claim will also be covered.

This 75-minute webinar will then cover the rights of creditors that are parties to “executory contracts,” such as supply and services agreements and purchase orders, after their customer files bankruptcy, all with the goal of limiting the risk of additional losses as a result of a failed bankruptcy case. Finally, there will be a quick discussion of the role of creditors’ committees in Chapter 11 cases and, time permitting, the preliminary steps that should be taken when the bankruptcy is filed to assist in defending preference claims.

About the Presenter Bruce S. Nathan, Partner, Lowenstein Sandler LLP

Bruce, a partner in the firm’s Bankruptcy, Financial Reorganization & Creditors’ Rights Department, has more than 35 years’ experience in the bankruptcy and insolvency field, and is a recognized national expert on trade creditor rights and the representation of trade creditors in bankruptcy and other legal matters. Bruce has represented trade and other unsecured creditors, unsecured creditors’ committees, secured creditors, and other interested parties in many of the larger Chapter 11 cases that have been filed. Bruce also handles letters of credit, guarantees, credit insurance and security, consignment, accounts receivable put, bailment, tolling, and other agreements and legal credit issues for the credit departments of institutional clients.

WEBINAR REGISTRATION INFORMATION Participation points are available for this webinar.

Date Tuesday, March 13, 2018

Ti m e 10a.m. — 11:15a.m. CST

Cost (per connec tion) $99 - Member, $198 - Nonmember (Only one coupon will be accepted)

All registrations for NACM Connect educational events are taken online at www.nacmconnect.org While registering online, you will have the opportunity to choose your payment method. We are happy to take a credit card online or invoice you. You will also have the opportunity to apply coupons as allowed.

Cancellation Policy: Cancellations must be received in writing, via fax, email or mail, no later than two weeks prior to the event date to qualify for a full refund. Cancellations received later than two weeks prior to the event date do NOT qualify for a refund of registration fees. Sorry, phone cancellations cannot be honored. If you have any questions, please email info@nacmconnect.org.

Questions? Contact Lillian Novak at lillian.novak@nacmconnect.org or call 847.483.6478

THE INTERCONNECTION

MARCH/APRIL 2018

PAGE 30

ohio NACM Connect Institute of Credit - CBA Certification Course

Financial Statement Analysis I Financial Statement Analysis I is a 10-week introductory course that provides you with a fundamental understanding of how to interpret accounting data presented in financial statements issued by corporations.

The following topics will be covered: • Financial Statements: An Overview • The Balance Sheet • The Income Statement • Statement of Cash Flows • A Guide to Earnings & Financial Reporting Quality • The Analysis of Financial Statements

Instructor

David Condon, CCE

Registration Deadline April 4

Wednesday Evenings, April 18 – June 20

|

3:30 p.m. – 6:30 p.m. ET

Toledo/Sylvania Township Branch Public Library │ 3900 King Road │ Toledo, OH 43617 $450, member (plus $115 textbook fee)* Two coupons are valid per person.

$900, non-member (plus $230 textbook fee)*

All registrations for NACM Connect educational events are taken online at www.nacmconnect.org While registering online, you will have the opportunity to choose your payment method.

We are happy to take a credit card online or invoice you. You will also have the opportunity to apply coupons as allowed.

All payments must be received one week prior to class start date.

Cancellation Policy: Cancellations must be received in writing, via fax e-mail or mail, no later than two weeks prior to the event date to qualify for a full refund.

Cancellations received later than two weeks prior to the event date do NOT qualify for a refund of registration fees. Sorry, phone cancellations cannot be honored.

If you have any questions, please email info@nacmconnect.org. *Registration fees increase by $80 for members and $160 for non-members if registration form is not submitted two weeks prior to start of class.

Register online at www.nacmconnect.org THE INTERCONNECTION

MARCH/APRIL 2018 PAGE 31

ohio

A half day seminar designed for Credit Professionals

UCC/LIENS OMNOVA Solutions Inc. Summit Meeting Room

│

Presented By: Jerry Bailey, NCS

25435 Harvard Road

WednesdayApril 18

│

Beachwood, OH 44122

8:30 a.m. – 12:30 p.m.

Continental Breakfast 8:00–8:30

$139 – Members (One coupon per person)

Registration Deadline: April 4

$278 – Nonmembers

UCC Filing Session: 8:30 a.m. - 10:20 a.m.

• Impact to DSO, Cash Flow, Working Capital • Overview and Benefits of Secured Transactions • Basic UCC Filings • Purchase Money Security Interest Filings • Chapter 7 and Chapter 11 Bankruptcies • Types of Filing: Which is Right for Your Situation?

• Leveraging Default • Who Might Use these Tools?

• Security Agreements and Financing Statements • Forms and Filing Rules • Recognizing opportunities to take security • Questions and Answers

Lien and Bond Claim Session: 10:30 a.m. - 12:30 p.m.

• What are Credit Managers Saying?

• Impact to DSO, Cash Flow, Working Capital • Justifying the Credit • A Brief History • Types of Liens • Terms, Legal Procedures and Ladder of Supply • State Laws: Similarities and Differences • Foreclosure Considerations • Bonds: Definitions and Types • Miller Act • Public Improvement Liens • Questions and Answers

Attendance at this seminar is worth .4 Continuing Education Units/CCE Recertification points.

All registrations for NACM Connect educational events are taken online at www.nacmconnect.org While registering online, you will have the opportunity to choose your payment method.

We are happy to take a credit card online or invoice you. You will also have the opportunity to apply coupons as allowed.

All payments must be received one week prior to seminar date.

Cancellation Policy: Cancellations must be received in writing via fax, email or mail no later than one week prior to the meeting date to qualify for a full refund. Cancellations received later than one week prior to the meeting date DO NOT qualify for a refund of registration fees. Sorry, phone cancellations cannot be honored.

If you have any questions, please email info@nacmconnect.org.

Questions? Contact Kelly Hall at kelly.hall@nacmconnect.org or call 317.225.4281 THE INTERCONNECTION

MARCH/APRIL 2018

PAGE 32

ohio

A half day seminar designed for Credit Professionals

UCC/LIENS FECHHEIMER BROTHERS CO.

│

TuesdayApril 17

Presented By: Jerry Bailey, NCS

4545 Malsbary Road

│

Cincinnati, OH 45242

8:30 a.m. – 12:30 p.m.

Continental Breakfast 8:00–8:30

$139 – Members (One coupon per person)

Registration Deadline: April 3

$278 – Nonmembers

UCC Filing Session: 8:30 a.m. - 10:20 a.m.

• Impact to DSO, Cash Flow, Working Capital • Overview and Benefits of Secured Transactions • Basic UCC Filings • Purchase Money Security Interest Filings • Chapter 7 and Chapter 11 Bankruptcies • Types of Filing: Which is Right for Your Situation?

• Leveraging Default • Who Might Use these Tools?

• Security Agreements and Financing Statements • Forms and Filing Rules • Recognizing opportunities to take security • Questions and Answers

Lien and Bond Claim Session: 10:30 a.m. - 12:30 p.m.

• What are Credit Managers Saying?

• Impact to DSO, Cash Flow, Working Capital • Justifying the Credit • A Brief History • Types of Liens • Terms, Legal Procedures and Ladder of Supply • State Laws: Similarities and Differences • Foreclosure Considerations • Bonds: Definitions and Types • Miller Act • Public Improvement Liens • Questions and Answers

Attendance at this seminar is worth .4 Continuing Education Units/CCE Recertification points.

All registrations for NACM Connect educational events are taken online at www.nacmconnect.org While registering online, you will have the opportunity to choose your payment method.

We are happy to take a credit card online or invoice you. You will also have the opportunity to apply coupons as allowed.

All payments must be received one week prior to seminar date.

Cancellation Policy: Cancellations must be received in writing via fax, email or mail no later than one week prior to the meeting date to qualify for a full refund. Cancellations received later than one week prior to the meeting date DO NOT qualify for a refund of registration fees. Sorry, phone cancellations cannot be honored.

If you have any questions, please email info@nacmconnect.org.

Questions? Contact Kelly Hall at kelly.hall@nacmconnect.org or call 317.225.4281

THE INTERCONNECTION

MARCH/APRIL 2018 PAGE 33

nacm connect

SAP Credit and A/R Users Group Meeting Open Forum Discussion Moderated by

Linda Hass, SAP Consultant

Monday, April 9, 2018 NACM Connect 3005 Tollview Drive Rolling Meadows, IL 60008

Open Forum 8:00 A.M. – 4:00 P.M. Cost SAP User Group Members Registration Fees

Non-Member Fees

$175, SAP User Group Members, first attendee  $145, Each additional attendee from the same company

 $350, Non-SAP group member  $450, Non-NACM member

Price includes continental breakfast and lunch. Sorry, no coupons accepted for this event.

Registration Form Name:____________________________ Company: ___________________________________Member #_________________ Address: ___________________________________________ City: ______________________ State: ____ Zip: __________ Phone: _______________________________ E-mail: _________________________________ Fax: _______________________ What do you consider your level of expertise in SAP:

 Beginner  Intermediate  Advanced

You will be invoiced for this meeting. Please submit payment once invoice has been received.

Upon receipt of the invoice, if you wish to pay by credit card please call 1-800-935-6226.

Please e-mail your discussion topics to themis.vlahos@nacmconnect.org.

Fax this registration form to 847-483-6428 no later than Thursday, April 5, 2018.

For more information, please contact Themis Vlahos, CCE at 800-935-6226, ext. 6428.

THE INTERCONNECTION

MARCH/APRIL 2018

PAGE 34

wisconsin

NACM CONNECT

EASTERN WISCONSIN BEST PRACTICES DISCUSSION GROUP We understand that information in today’s credit world is vital and participating in such a group will provide you with creditspecific education, contacts in the local credit community, along with the opportunity to share ideas and best practices with fellow colleagues.

About the Best Practices Discussion Group Unlike traditional credit groups, the NACM Connect Best Practices Discussion Group is not industry specific. Your entire company may attend each meeting including your associates, members of the sales department and even the CEO of your organization. Any NACM member company is welcome to join the group. Each meeting will discuss best practices and no specific customers will be mentioned.

About the Group Meetings Four times each year, the Best Practices Discussion Group will hold a roundtable discussion. Local meetings will be held in the Sheboygan/ Kohler/Plymouth/Manitowoc/Fond du Lac area. We will focus on various credit-related topics relevant to today’s business professional. NACM personnel, a member company or guest speaker will facilitate a lunch meeting.

Next Meeting Topic: Credit Terms Pushback & Enhanced Credit Agreements Presenters: Tom Fawkes & Brian Jackiw Goldstein & McClintock LLP

Date: Thursday, March 22 12 p.m. – 2:30 p.m.

Location: Pier 17 Restaurant 539 Riverfront Drive Sheboygan, WI 53081 Information or to Register: For more information, please contact Frank Schetski at frank.schetski@nacmconnect.org or 414.232.4565

Objectives of the Best Practices Discussion Group • Determine necessary improvements for your credit and/or accounting departments and organization.

• Analyze how other organizations achieve high performance levels.

• Use gathered information to enhance your company’s performance.

THE INTERCONNECTION

MARCH/APRIL 2018 PAGE 35

ohio Roundtable discussions are a great opportunity to review, discuss, question and learn best practices with credit professionals of countless experience and backgrounds, across various industries and company sizes. It is a great opportunity to network with other credit professionals that you can later reach out to regarding the roundtable discussion or other related credit processes or circumstances. They are equally beneficial to both the newer and the more experienced.

–Chuck Levy, CCE Credit Manager Fabick CAT

2018 Ohio

March Lunch Roundtable Discussion

CREDIT and COLLECTION POLICY and PROCEDURE DISCUSSION for

CREDIT LEADERS

Moderators: Jay Zimmerman/Fechheimer Brothers Co. and John Hoffert/Formica Group

Tuesday March 20 11:30 a.m. – 1:30 p.m.

Fechheimer Brothers Co. 4545 Malsbary Road Cincinnati, OH 45242

• How did you develop your company’s Credit & Collection Policy? What are the Key Components?

• Who has Credit Limit Authority? Necessary Approvals?

• Bad Debt Write off Policy and Approval Authority Levels Credit Holds and Release Discussion • Collection Policies; When to contact? Who Contacts?

How often? When to Escalate?

Cost per Meeting

$30 members, $60 non-members. One coupon per person is valid. Lunch included.

Attendance at this roundtable discussion is worth .2 Continuing Education Units/CCE Recertification points

All registrations for NACM Connect educational events are taken online at www.nacmconnect.org While registering online, you will have the opportunity to choose your payment method.

We are happy to take a credit card online or invoice you. You will also have the opportunity to apply coupons as allowed.

All payments must be received one week prior to meeting date.

Cancellation Policy: Cancellations must be received in writing via fax, email or mail no later than one week prior to the meeting date to qualify for a full refund.

Cancellations received later than one week prior to the meeting date DO NOT qualify for a refund of registration fees. Sorry, phone cancellations cannot be honored. If you have any questions, please email info@nacmconnect.org.

Email this form to registration@nacmconnect.org.

Register online at www.nacmconnect.org You will be invoiced shortly.

THE INTERCONNECTION

MARCH/APRIL 2018

PAGE 36

indiana - michigan - ohio

Credit 101, Credit 102, Credit 103 Time: All classes are from 9 a.m. – 4 p.m.

(Continental breakfast at 8:30 a.m., lunch not included)

Cost: Members $199 (per class)

Non-Members $398 (per class)

l

INDIANA | MICHIGAN | OHIO INDIANA Elkhart

MICHIGAN

Grand Rapids

OHIO

Cleveland

OHIO

Dayton

OHIO Toledo

CREDIT 101

CREDIT 102

CREDIT 103

Mid City Supply Co. Inc., 940 Industrial Pkwy.

Elkhart, IN 46516

March 6 --------

June 5

August 21

Behler Young Co. 4900 Clyde Park Ave. SW Grand Rapids, MI 49509

August 29

September 26

October 31

Kaufman Container Company 1000 Keystone Parkway, Suite 100 Cleveland, OH 44135

April 10

May 10

June 7

NACM Connect 41 White Allen Ave. Dayton, OH 45405

April 10

May 8

June 5

Toledo/Sylvania Township Branch Public Library 3900 King Road Toledo, OH 43617

October 9 & 11 October 23 & 25 November 6 & 13

3:30 p.m. – 6:30 p.m. 3:30 p.m. – 6:30 p.m. 3:30 p.m. – 6:30 p.m.

All registrations for NACM Connect educational events are taken online at www.nacmconnect.org While registering online, you will have the opportunity to choose your payment method. We are happy to take a credit card online or invoice you. You will also have the opportunity to apply coupons as allowed.

Please Note:

• • • •

Payment must be received one week prior to class date “No Shows” will be responsible for full amount Classes subject to cancellation based on enrollment 0.6 CEUs available

Cancellation Policy: Cancellations must be received in writing (via fax email or mail) no later than one week prior to the class date to qualify for a full refund.

Cancellations received later than one week prior to the class date do not qualify for a refund of registration fees. Sorry, phone cancellations cannot be honored.

A 20% surcharge applies to late registrations and rebooking. If you have any questions, email info@nacmconnect.org.

Register online at www.nacmconnect.org THE INTERCONNECTION

MARCH/APRIL 2018 PAGE 37

indiana A half-day

Seminar

designed for Credit Professionals

A CR ED IT PR OF ES S IO

NA L’ S GU ID E TO

FINANCIAL STATEM

Thursday Breakfast 8:30-9:00

•

March 15 Registration Deadline: March 1

9:00 a.m. – 12:30 p.m.

This will be a half day interactive session – bring your lap tops so you can follow along using real financial statements and spreadsheets as we go through the concepts. You should expect to leave the session having a basic understanding of the following topics: • US Generally Accepted Accounting Principles (GAAP) for reporting financial information • Related accounting concepts and why they are important to credit professionals • What audited financial statements are and why they matter

ENTS

Don Hall’s Guesthouse Hotel Conference Center 1313 W. Washington Center Road Fort Wayne, IN 46825

Attendees will be provided with an excel template that generates basic ratio and other comparisons which can modified to adapt to individual company calculations or industry preferences. The group will work together with the instructor to develop a credit recommendation so there is hands-on training in addition to lecture.

Speaker: Susan Thomas, CCE Half day seminar: (breakfast included)

• Each type of financial statement and how a credit professional uses it • Ratios that are most useful to support credit decisions • Putting it all together to make a credit decision – whether to grant, and what credit limit

$139 – Members (One coupon per person)

$278 – Nonmembers

Attendance at this seminar is worth .4 Continuing Education Units/CCE Recertification points.

All registrations for NACM Connect educational events are taken online at www.nacmconnect.org While registering online, you will have the opportunity to choose your payment method.

We are happy to take a credit card online or invoice you. You will also have the opportunity to apply coupons as allowed.

All payments must be received one week prior to seminar date.

Cancellation Policy: Cancellations must be received in writing via fax, email or mail no later than one week prior to the meeting date to qualify for a full refund. Cancellations received later than one week prior to the meeting date DO NOT qualify for a refund of registration fees. Sorry, phone cancellations cannot be honored.

If you have any questions, please email info@nacmconnect.org.

Questions? Contact Kelly Hall at kelly.hall@nacmconnect.org or call 317.225.4281 THE INTERCONNECTION

MARCH/APRIL 2018

PAGE 38

NACM connect

Institute of Credit 3005 Tollview Drive Rolling Meadows, IL 60008 Phone: 847-483-6478 Fax: 847-253-6241 Website: www.nacmconnect.org

CONNECT Institute of Credit

2018 Course Schedule CBA Courses Course Description

Spring 2018

Business Credit Principles

Mondays 3/12 - 5/14

Fall 2018 Mondays 8/20 - 10/29*

Available through videoconferencing

Available through videoconferencing

Thursdays 6/14 - 8/16

Basic Financial Accounting

Financial Statement Analysis I

Summer 2018

Available through videoconferencing

Thursdays 8/23 - 10/25

Thursdays 3/15 - 5/17

Available through videoconferencing

Available through videoconferencing

As a remote student you are able to take live classes via our videoconferencing platform from the comfort of your home or office.

Questions? Contact Margaret Krafft at 847.483.6420 or margaret.krafft@nacmconnect.org

CBF Courses Course Description

Spring 2018

Business Law

Mondays 3/12 - 6/11*

Summer 2018

Fall 2018

Mondays 8/20 - 10/29*

Credit Law

Evening Class Times: 5:30 – 8:30 p.m.

* No Classes on September 3 (Labor Day) and May 28 (Memorial Day)

Course Fees:

Member – $450 (plus textbook fee*) Two coupons are valid per person.

Non-Member –$900 (plus textbook fee*)

*Additional rush charges may occur if registration is not submitted two weeks prior to start of class.

***Tuition Must be Paid Before the First Class Begins***

All registrations for NACM Connect educational events are taken online at www.nacmconnect.org While registering online, you will have the opportunity to choose your payment method. We are happy to take a credit card online or invoice you. You will also have the opportunity to apply coupons as allowed.

Classes are subject to cancellation based on enrollment.

Questions? Contact Lillian Novak at lillian.novak@nacmconnect.org or call 800.935.6226 THE INTERCONNECTION

MARCH/APRIL 2018 PAGE 39

ohio

THE ART OF GETTING PAID

A full-day collections skills seminar designed for Credit Professionals Featuring:

Barry J. Elms America’s Business Coach

This seminar is designed as an interactive and informative program for Credit professionals.

This is a dynamic and relevant event that includes group interaction and case studies to ensure maximum program retention. Benefits include improved cash flow, increased profits, improved customer interactions and increased sales. The following topics will be discussed in this program: Part I – Morning Session • The 3 keys to a confident collections personality • The importance of active listening • Asking the right questions • How to ask for the money Part II – Afternoon Session • Why past due debtors pay. The 6 influencing factors • Overcoming objections and dealing with excuses • How to get past the gate keeper • Negotiating with customers who have cash flow issues

Star Leasing │ 4080 Business Park Drive │ Columbus, OH 43204

Wednesday March 14

8:30 a.m. – 4 p.m.

(Continental breakfast and lunch included) Registration Deadline: February 28

$189 – Members (Two coupons per person)

($175 if 3 or more from the same company)

$378 – Nonmembers

Attendance at this seminar is worth .6 Continuing Education Units/CCE Recertification points.

All registrations for NACM Connect educational events are taken online at www.nacmconnect.org While registering online, you will have the opportunity to choose your payment method.

We are happy to take a credit card online or invoice you. You will also have the opportunity to apply coupons as allowed.

All payments must be received one week prior to seminar date.

Cancellation Policy: Cancellations must be received in writing via fax, email or mail no later than one week prior to the meeting date to qualify for a full refund. Cancellations received later than one week prior to the meeting date DO NOT qualify for a refund of registration fees. Sorry, phone cancellations cannot be honored.

If you have any questions, please email info@nacmconnect.org.

Questions? Contact Kelly Hall at kelly.hall@nacmconnect.org or call 317.225.4281 THE INTERCONNECTION

MARCH/APRIL 2018

PAGE 40

indiana

A full day Seminar designed for Credit Professionals

PROACTIVE COLLECTIONS AND COMMUNICATIONS Instructor: Richard Bellis, CCE

has been a Credit Professional and Senior Manager with extensive work experience in a variety of industries. He has taught Operations Management at the graduate level and has previously served on the Board of Directors for NACM Connect. Richard currently is an instructor for NACM Connect, teaching Credit Courses and is an active member of the Association of Credit Executives (ACE). His professional expertise is in the area of Credit and Collections, Cash Forecasting and Order-To-Cash processes with emphasis on organizational structure, policy and procedural improvements.

Good collectors are proactive

– they anticipate the responses and the attitudes of their customers before they make the collection call so they can act and react in a positive manner. In the morning session you will learn to be proactive by improving your skills related to collections. Through this interactive workshop you will learn to establish an effective routine, set collection call priorities and measure your collection effectiveness.

The afternoon session will demonstrate how communicating in the right fashion, both internally and externally, will reap much more meaningful results.

After this session you will know the attributes of good communication, types of communication, strategies for effective communications and the 7 C’s of Good Credit Communications.

Tuesday

March 13 8:30 –4 a.m.

p.m.

Registration Deadline: February 27

Baymont Inn & Suites

│

Full day seminar: (continental breakfast and lunch included) q $189 - Member (two coupons per person)

$175 - each if three of more from the same company

q $378 - Non-Member

3010 Brittany Court

│

Elkhart, IN 46514

Attendance at this seminar is worth .6 Continuing Education Units/CCE Recertification points.

All registrations for NACM Connect educational events are taken online at www.nacmconnect.org While registering online, you will have the opportunity to choose your payment method.

We are happy to take a credit card online or invoice you. You will also have the opportunity to apply coupons as allowed.

All payments must be received one week prior to seminar date.

Cancellation Policy: Cancellations must be received in writing via fax, email or mail no later than one week prior to the meeting date to qualify for a full refund. Cancellations received later than one week prior to the meeting date DO NOT qualify for a refund of registration fees. Sorry, phone cancellations cannot be honored.

If you have any questions, please email info@nacmconnect.org.

Questions? Contact Kelly Hall at kelly.hall@nacmconnect.org or call 317.225.4281 THE INTERCONNECTION

MARCH/APRIL 2018 PAGE 41

NACM Connect

Incoming 2018-2019 Advisory Board Committees NACM Connect – St. Louis

NACM Connect – Indiana, Michigan, Ohio

NACM Connect Wisconsin

CHAIRPERSON Curtis Litchfield, CCE Land O’Lakes/Purina Mills

CHAIRPERSON Curt Johnson, CCE S. Abraham and Sons, Inc.

CHAIRPERSON Cindy Fredericksen Regal-Beloit Corporation

VICE CHAIRPERSON Staci Cima, CCE Crescent Parts & Equipment

VICE CHAIRPERSON Caroline Perkins, CCE Mickey Thompson Performance Tire

DIRECTORS Term Ending 2019 Mary Hotvedt, CCE Waupaca Foundry

SECRETARY Larry LipSchutz, CCE, CICP Crescent Parts & Equipment DIRECTORS Term Ending 2019 Brent Heizelman Mid-Kansas Cooperative Assn.

Tiffany Sudduth American Metals DIRECTORS Term Ending 2020 Michael Evans Trouw Nutrition Vicki Reasons Caleres COUNCILOR Kevin Stinner, CCE, CCRA Pinnacle Agriculture Distribution

NACM Connect – Kansas City/Wichita Michelle Gage YRC North America Transportation Derek Harmon MFA Incorporated Jenny Jones Utility One Source Katie Richardson, SPHR, SHMSCP Ash Grove Materials Corporation

SECRETARY Rob Hanus Carhartt, Inc. DIRECTORS Term Ending 2019 John Hoffert Formica Group COUNCILOR Michael Gould Logicalis, Inc.

NACM Connect – Upstate New York CHAIRPERSON Deborah Coder NOCO Inc. SECRETARY Deanna Jonas, CCE Daikin Applied DIRECTORS Term Ending 2022 Anthony Mitchell Crop Production Services

Eleanore Jones Lakeside Manufacturing Joseph Lange Brenntag Great Lakes COUNCILOR Diana Hoffman Rockline Industries

NACM Connect – Nebraska CHAIRPERSON Terri Lawver Hornady Manufacturing DIRECTOR Janet Henseleit Vulcraft - Division of Nucor CFDD REPRESENTATIVE TBD COUNCILOR Gary Kennett Nebco Inc.

DIRECTORS Term Ending 2023 Jeff Pilarchik Mirabito Energy Products COUNCILOR Bonnie Bonavito Try It Distributing

THE INTERCONNECTION

MARCH/APRIL 2018

PAGE 42

illinois NACM Connect

Emerging Credit Leaders

Emerging Leader Series Professional Development, Networking & Credit Leadership Training

Introducing the Emerging Leader Series!

Education and networking events just for young credit & A/R professionals.

If you are 35 or younger and are working in the credit or A/R field, come see what we are all about!

The Art of Communication Learn to create an effective communication environment. The ability to engage your customer is a skill that needs to be cultivated for maximum effectiveness. The non-verbal aspects of communication are of special importance. Participants learn techniques to gain cooperation from others and help customers express their ideas with clarity which in turn allows the service aspect to exceed the customers expectations.

• • • • • •

Our goal is to provide this audience with a place where you can gather with people that share your career interests.

For more information about the program, or to suggest someone to receive an invite, please contact Susan Rooney, susan.rooney@ nacmconnect.org or by phone at 847.483.6426.

Identify and apply different communication styles.

Gain a better understanding of verbal and non-verbal communication.

Communicate ideas more clearly and project a positive image.

Learn the assertive language to get your point across.

Tap into their own personal style to become a more authentic communicator.

Learn how to effectively give and receive feedback, and much, much more.

About the Presenter Robb Hill is a licensed financial professional, and founder of R. Hill Enterprises, Inc. He has conducted lectures for basic financial planning, has appeared on numerous media outlets across the nation, is a proud US Army veteran, earned a BS in Business Management, and is the author of Ask the RIGHT Questions, Get the Right ANSWERS for Sound Financial Retirement Planning. Robb is a a forcefully energetic and entertaining speaker who knows how to deliver content-driven programs designed to empower and encourage your team.

Join us for education, networking, apps and drinks! Space is limited!

EVENT REGISTRATION INFORMATION Date/Time

Location

(Presentation: 5:30-6:30)

Bar Louie Schaumburg 1160 Plaza Dr, Schaumburg, IL 60173 P: 847.466.7478

Thursday, March 8, 2018 5 p.m. — 7 p.m. CT

Cost

$50 - per person (Includes educational session, appetizers and beverages.)

All registrations for NACM Connect events are taken online at www.nacmconnect.org While registering online, you will have the opportunity to choose your payment method. We are happy to take a credit card online or invoice you. You will also have the opportunity to apply coupons as allowed.

Cancellation Policy: Cancellations must be received in writing, via fax, email or mail, no later than two weeks prior to the event date to qualify for a full refund. Cancellations received later than two weeks prior to the event date do NOT qualify for a refund of registration fees. Sorry, phone cancellations cannot be honored. If you have any questions, please email info@nacmconnect.org.

Questions? Contact Lillian Novak at lillian.novak@nacmconnect.org or call 847.483.6478 THE INTERCONNECTION

MARCH/APRIL 2018 PAGE 43

The InterConnection

800.935.NACM

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