The InterConnection Volume 7 Issue 2 March/April 2019 by NACM Connect

The InterConnection VOLUME 7

ISSUE 2

MARCH/APRIL 2019

2020 Board of Directors Candidate Slate Lillian Novak, CGA

he NACM/Chicago-Midwest Nominating Committee in a meeting held on February 26, 2019, has recommended the following slate of officers and directors for the April 1, 2019 – March 31, 2020 fiscal year. The new Board of Directors will be installed during the NACM/ChicagoMidwest Annual Meeting taking place on April 18, 2019, at Meridian Banquet & Conference Center in Rolling Meadows, IL, beginning at 3:30 p.m. There is no cost for members to attend the business meeting portion of this event. 2019-2020 NACM/Chicago-Midwest Board of Directors Chairperson Erica White, CCE Ferguson Enterprises

Vice Chairperson Patrick Nelson ACCO Brands, Inc. Treasurer Mike Hill, CCE Mitek USA, Inc.

Directors – Terms Ending 2020 Christine Culbreth ArcelorMittal International America

Michele Pancotto, CCE, CICP Radiant Clipper

Continued on page 4 >>

Nominees for NACM National Honors & Awards Lillian Novak, CGA NACM Connect has put into nomination the following members for National Awards: CCE Designation of Excellence Amy Cook, CCE, Credit Manager, McNaughton McKay Electric Company Erica White, CCE, Regional Credit Manager, Ferguson Industries

CBA Designation of Excellence Devon Glenn, CBA, Credit Manager, Ferguson Industries Zach Cherry, CBA, Senior Collections and Credit Support Specialist, Roche Diagnostics NACM Connect congratulates these outstanding members. We are proud to include you in our long list of esteemed member-nominees. ■

Congratulations NOMINEES

2018-2019

Board of Directors CHAIRPERSON Kurt Albright Uline, Inc. VICE CHAIRPERSON Erica White, CCE Ferguson Enterprises TREASURER Patrick Nelson ACCO Brands, Inc. 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 Les Witrzek, CCE, CICP Kuriyama of America, Inc. Ed Stauber Stericycle, Inc. Kevin Stinner, CCE, CCRA Pinnacle Agriculture Distribution DIRECTORS—TERMS ENDING 2021 Tracey Bland First Citizens Bank Kevin Burke, CCE Erie Materials, Inc. Staci Cima, CCE Crescent Parts & Equipment Diana Hoffmann Rockline Industries, Inc. Brendon Misik, CCE,CICP Nutrien PRESIDENT Phillip J. Lattanzio, CCE NACM/Chicago-Midwest SECRETARY Kerry Jensen, CPA NACM/Chicago-Midwest COUNCILOR John Fahey, CCE Edward Don & Company EDITORIAL STAFF EDITOR Linda Herbst Senior Marketing Administrator ASSOCIATE EDITORS Lillian Novak, CGA V.P. of Education and Marketing Margaret Krafft Marketing Administrator

In This Issue 2020 Board of Directors Candidate Slate

Illinois Credit 101, 102, 103 Series

Nominees for NACM National Honors and Awards

Indiana, Michigan, Ohio Credit 101, 102, 103 Series

2018 Institute of Credit Class Schedules

2019 IOC Schedule

Bowling Event Hosted by NACM Connect - Missouri

Credit Career Corner

2019 Annual Meetings Schedule

Caine & Weiner Giveaway

New York Annual Meeting

Illinois - Emerging Leaders Series

Illinois - SAP Credit & A/R Users Group Meeting

Construction Stuff and Stuff Illinois Annual Meeting

Illinois - Financial Statement Analysis Half-Day Seminar

Credit Outlook 2019: No Need to Panic, Yet

Illinois - Recession on the Horizon?

Missouri - Kansas City Annual Meeting

Indiana - Ways to Safely Sell Higher Risk Accounts

When Technology Isn't Enough: Personalizing the Credit-Customer Relationship

Michigan - Creating the Perfect Credit Policy

Michigan - Business Credit Principles

Missouri Annual Meeting

12 13

Michigan - Roundtable - The Basics of Financial Statement Analysis

NACM Southwest Thoughts on Win/Win and Lose/Win in the Credit & Collections Arena

Missouri - Roundtable - Discovering Best Practices When Dealing with the Construction Industry

Credit Point Software

Ohio - Barry Elms - Advanced Collections and Negotiation Skills

All Credit Reporting Solutions in One Place

Ohio - Barry Elms - The Complete Credit Professional

NACM Connect Welcomes New Staff Members

Ohio - Rolling Out a Credit Surcharge Program

Credit Group Meeting Calendars

Event Calendar

Ohio & Kentucky - Roundtable Practical Lien Presentation

NACM Connect Welcomes New Members

Wisconsin - Best Practices Discussion Group Wisconsin - Roundtable - Taxation Issues and Your Credit Department

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 2019

PAGE 2

Education Digest

Institute of Credit (IOC)

tart the process of earning your professional designation and register today for the NACM Connect Institute of Credit (IOC) Quarter for Spring of 2019. If you would like more information, please contact the NACM Connect Education Department at 800.935.6226 or email Lillian Novak at

SAVE-THE DATES!

IOC COURSES 2019 CBA (Credit Business Associate) Course Schedule

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

**Business Credit Principles

Mondays, 3/18 - 5/20

Rolling Meadows, IL

Business Credit Principles Wednesdays, 3-20 - 5/22 Zeeland, MI **Financial Statement Analysis 1 Basic Financial Accounting **Basic Financial Accounting

Thursdays, 3/21 - 5/30* *No class April 18

Wednesdays, 4/17 - 6/19 Thursdays, 6/6 - 8/15

Rolling Meadows, IL Toledo, OH Rolling Meadows, IL

CBF (Credit Business Fellow) Course Schedule

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

**Business Law Wednesdays, 3/27 - 6/12 Rolling Meadows, IL

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 email margaret.krafft@nacmconnect.org.

April 10 & 11 Rochester, New York April 18 Chicago, Illinois April 23 Kansas City, Missouri April 25 St. Louis, Missouri May 9 Grand Rapids, Michigan June 6 Pewaukee, Wisconsin June 11 Omaha, Nebraska June 13 Wichita, Kansas June 18 Indianapolis, Indiana June 20 Cincinnati, Ohio

Evening Class Times: 5:30 - 8:30 p.m. Institute of Credit (IOC) CBA and CBF class times are usually in the evenings. Please refer to the specific class registration form for more details on instructors, locations, fees and times.

EXAM DATES & DEADLINES Application and Paperwork Deadlines March 22, 2019 May 31, 2019 September 13, 2019

Exam Dates Sunday, May 19, 2019 Credit Congress, Denver, CO Monday, July 22, 2019 Monday, November 4, 2019

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MARCH/APRIL 2019 PAGE 3

News

2020 Board of Directors Candidate Slate Continued from page 1 Directors – Terms Ending 2020 (cont'd.)

Ed Stauber

Kevin Stinner, CCE, CCRA Pinnacle Agriculture Distribution

Directors – Terms Ending 2021 Tracey Bland First Citizens Bank

Staci Cima, CCE Crescent Parts & Equipment Co., Inc.

Diana Hoffmann Rockline Industries, Inc.

Brendon Misik, CCE, CICP Nutrien

Dave Zahller, CCE Tubular Steel

Directors – Terms Ending 2022 Joe Lange, CCE, CCRA Brenntag Great Lakes, LLC

Adam D.Ross, CCE, CBF, CBA Feralloy Corporation

Trisha Toebe, MBA Kohler Company

George Valletti, CFO/COO Ginsey Home Solutions

Councilor Kurt Albright Uline 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 11, 2019. 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 hour-long educational sessions scheduled from 9 a.m. – 3:15 p.m. The educational program will offer seven total sessions to choose from. 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. ■

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

n February the NACM Connect Missouri Social committee hosted their annual member networking bowling event for an evening of fun. Don’t forget to take some time to visit the website at www.nacmconnect.org to stay up-to-date on other upcoming events. Or contact Rochelle Wilson, your Membership Consultant at rochelle.wilson@nacmconnect.org if you would like more details or have questions. ■

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MARCH/APRIL 2019

PAGE 4

NACM Connect

2019 NACM CONNECT ANNUAL MEETINGS The Premier Spring Event for Credit Professionals WWW.NACMCONNECT.ORG

Apr 10 & 11 · NEW YORK Rochester

REGISTRATION IS OPEN!

Apr 18 · ILLINOIS Rolling Meadows

REGISTRATION IS OPEN!

Apr 23 · KANSAS/MISSOURI Kansas City

SAVE THE DATE!

REGISTRATION IS OPEN!

Apr 25 · MISSOURI St. Louis

REGISTRATION IS OPEN!

May 9 · MICHIGAN Grand Rapids

June 6 · WISCONSIN Pewaukee

June 11 · NEBRASKA Omaha

June 13 · KANSAS Wichita

June 18 · INDIANA Indianapolis

June 20 · OHIO Cleveland

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MARCH/APRIL 2019 PAGE 5

NACM Connect - New York

2019

NACM CONNECT ANNUAL MEETINGS The Premier Spring Event for Credit Professionals

April 10 & 11

NEWRochester YORK

WEDNESDAY, APRIL 10TH

9:00 A.M.

REGISTRATION

9:30 A.M.

KEYNOTE: THE RELUCTANT COLLECTOR Speaker: Tim Paulsen

11:15 A.M.

DIRTY LITTLE SECRETS OF AP Speaker: Nicole Caley, MBA, AMP

12:15 P.M. 1:15 P.M.

ANNUAL MEETING LUNCHEON

ANTITRUST IMPLICATIONS FOR YOU AND YOUR COMPANY Speaker: Wanda Borges, Esq., Borges and Associates, LLC

2:30 P.M.

THE CHANGING UNCLAIMED PROPERTY LANDSCAPE Speakers: Troy Wangen, Managing Director, True Partners Consulting

3:30 P.M.-5:00 P.M.

RECEPTION (HORS Dâ&#x20AC;&#x2122;OEUVRES AND OPEN BAR)

THURSDAY, APRIL 11TH

9:00 A.M.

REGISTRATION

9:30 A.M.

NATIONAL

TRADE CREDIT REPORT 101

Speakers: Phil Lattanzio, CCE, President & COO, NACM Connect 10:45 A.M.

HIRING AND RETAINING TOP TALENT FOR YOUR CREDIT DEPARTMENT Speakers: Leslie Harrison, Vice President, Midwest Business Staffing; Jeff Pilarchik, CCE, Mirabito Energy Division

11:45 A.M.

ANNUAL MEETING LUNCHEON

12:30 P.M.

KEYNOTE: TALE FROM THE TRENCHES

1:30 P.M.

Speakers: Tom Fawkes, Esq. and Brian Jackiw, Esq., Goldstein & McClintock ANNUAL MEETING ADJOURNED

ALL REGISTRATIONS ARE TAKEN ONLINE AT

WWW.NACMCONNECT.ORG THE INTERCONNECTION

MARCH/APRIL 2019

PAGE 6

News

Illinois Construction Stuff and Stuff Norm Cowie, CCE

re you ready to write your letter?

You know, the one that I haven't asked you to write yet? Well? (fingers tapping). The letter, of course, is the letter to your legislator asking him or her to support HB 2916 or SB 1636. These bills mirror last year's SB3052, which would have allowed retainage on a private, commercial construction project to be withheld at 10% until the project is 50% complete, afterwhich it would have to be reduced to 5%. This bill passed both Houses in the Illinois Assembly, but recently-departed Governor Rauner vetoed it as one of his last gifts to his constituency. So the question is, who would be hurt by releasing more money to contractors and subcontractors? Well, you can look at who fought it so hard, starting with banks and realtors. Why would a bank be against it? You'd think they would prefer to loan out as much as they could, simply so they could start earning interest on it. I think their feelings … if we can imagine banks or their board members having feelings at all … are that the more money held from subcontractors the better, in case there are any mechanics liens that are filed on the project especially from unknown suppliers. That way there is capital available to take care of the liens, and, most important, keep the bank's mortgage position on the title more secure. That's a fair argument, and here's my answer to this. Make conditional waivers part of the lien law (see my previous articles on this topic). That way there would be no reason for anyone to not be honest on their sworn statements, because a subcontractor wouldn't have to try to pry an unconditional waiver from his supplier prior to payment. And with this transparency, and the ability to pay materialmen directly, banks could better

avoid the liens in the first place. The other argument made for larger retention is to have money in the pot if there is a problem with a trade's performance. That's why it's not unusual for a GC to withhold retention until after warranties expire, which in most construction projects is one year after owner's acceptance. This one isn't so fair if you really think about it. It's not even fair if you don't think about it. Let's say there's a problem with the plumbing six months after the job is done. The owner and GC require the plumber to fix the leak, and the plumber refuses because he claims it wasn't due faulty installation. So the owner/GC simply dip into the retainage fund, hire another plumber and do the work. The original plumber lost his lien rights, and his only rights are to sue or just grind some molars to dust. But this was a fair resolution, wasn't it? Well, not really. Because why should the other trades (roofers, electricians, drywallers, painters, excavation, etc.) who had no issues with their work also have had their money held up? Do they get interest on this money? No. Do they have extended lien rights? No. If the owner or GC subsequently goes bankrupt, they won't even be secured creditors. They just would get burned. And here's another reason why higher retention actually increases the potential for mechanics liens. Studies show that contractors typically make about 3% on their projects, so 10% is roughly three times their profit. With this kind of money held on them, they might have trouble paying for their labor, their benefits and their suppliers as the job progresses, so what's going to happen? They aren't going to stiff their employees. They aren't going to stiff the Unions who help them man the job. They're going to start robbing Peter to pay Paul with their suppliers (Which is why I've been pushing to get our name changed to Paul Electric Supply). But I know most of us suppliers add Captain to the crunch already on

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subcontractors, because we don't accept retention deducted from us, as much as every, single one of our customers would crave. But we, and I'm speaking for our firm here, am just not going to go there. So we demand 100% payment from our customers even while knowing the owner/ GC only pays them 90% of every draw. Would you like that on your own paycheck? How would that help you get through your bill paying days? Most people couldn't take a 10% hit like that with the thought hopefully of maybe getting it all back a year later, interest free. The fair thing is to lower the ticket price. Once a job is 50% done, you'll have an idea if it's going well. And if it is, then you … job owner … shouldn't object to lowering the retention to 5%. That way, there's still money there for you, but just not an excessive amount. Okay, now I'm asking you to write your letter, or call your legislator and ask them to support SB 1636 and HB 2916 with their votes and possibly signing on as co-sponsors. Are you ready? Start writing or dialing. ■

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. Norm can be reached at norm.cowie@paramont-eo. com, or feel free to visit him at www.normcowie.com which features past NACM Connect articles.

MARCH/APRIL 2019 PAGE 7

NACM Connect - Illinois

2019

NACM CONNECT ANNUAL MEETINGS The Premier Spring Event for Credit Professionals

9:00 A.M. 9:30 – 10:30 A.M.

THE CHALLENGE OF COLLECTIONS EFFORTS

THE LANDSCAPE OF TECHNOLOGY

Speaker: Staci Cima, CCE, Corporate Credit Manager, Huttig Building Products 11:45 A.M. 1:00 – 2:00 P.M.

SETTING AND USING SMART GOALS FOR YOU AND YOUR TEAM

Speakers: Leslie Harrison, SPHR, CGA, Vice President, Midwest Business Staffing; Curt Rothlisberger, CCE, CICE, Corporate Credit Manager, Ardagh Metal Beverage USA Inc.

THE COST OF SALES

Speaker: John Jaeger, CCE, NACM Connect Faculty

ANNUAL MEETING LUNCHEON

NEGOTIATION TECHNIQUES

Speaker: Brad Robinson, Senior Vice President, Caine & Weiner 2:15 P.M.

ILLINOIS Rolling Meadows

REGISTRATION

Panelists: Martine Dyer, CBF, CCRA, Credit Manager, PT Holdings; Devon Glenn, CBA, Credit Manager, Ferguson Enterprises; Brendon Misik, CCE, CICP, Credit Supervisor, Nutrien 10:45 – 11:45 A.M.

April 18

TALE FROM THE TRENCHES

Speakers: Tom Fawkes, Esq. and Brian Jackiw, Esq., Goldstein & McClintock

KEYNOTE: THE DARK CLOUD BEHIND THE SILVER LINING – FIVE THINGS TO WORRY ABOUT IN 2019 Keynote Speaker: Chris Kuehl, PhD, Managing Director, Armada Corporate Intelligence

3:15 – 5:30 P.M.

BUSINESS MEETING AND NETWORKING EVENT (HORS D’OEUVRES AND OPEN BAR)

ALL REGISTRATIONS ARE TAKEN ONLINE AT

WWW.NACMCONNECT.ORG THE INTERCONNECTION

MARCH/APRIL 2019

PAGE 8

News

Credit Outlook 2019: No Need to Panic, Yet Christie Citranglo, Editorial Associate NACM

ollowing positive credit conditions throughout the last few years, 2019 and soon after 2019 are predicted to trend downward, according to a recent analysis by Moody’s Investor Service. Global credit conditions will likely weaken this year and default rates will continue to remain low moving forward. “We do think global credit conditions will be weaker this year; volatility is now the name of the game, and credit conditions are becoming less accommodative,” said Ann Van Praagh, managing director global strategy and research at Moody’s. “We expect refinancing risks to be manageable for most of the leverage finance market, and we expect profitability and liquidity to remain solid.” Over the last handful of years, credit conditions remained ideal for issuers. The U.S. economy strengthened

“

rated the liquidity stress of the current credit cycle at 4%, which is below the record worst of nearly 21%, yet the cycle index still saw a more than 1% uptick since 2018. While this number is not yet a cause for concern, the change is still significant and can mean a trend

Many of the upcoming risks will begin to manifest themselves this year, but the effects of these risks may not become apparent immediately.

through 2017 and 2018 due to corporate tax cuts and a low level of unemployment, but 2019 does not promise any boosts to the economy. Many of the short-term fixes to the U.S. economy will wear off this year, increasing the volatility of corporate debt distress. While issuers will likely not see as many problems this year, the capital structures still remain weak. The interruption of a healthy credit cycle began in December 2018, said Christine Padgett, SVP of Moody’s Corporate Finance Group. Moody’s

of worsening credit health. “Our credit cycle indicators show only a modestly worsening trend in credit conditions in 2019, based on fundamental credit factors,” Padgett said. “Broadly speaking, our credit cycle gauge reflects metrics still below the long-term averages and meaningfully below the record worst around the time of the financial crisis.” Many of the upcoming risks will begin to manifest themselves this year, but the effects of these risks may not become apparent immediately, said

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Mariarosa Verde, VP-SCO credit strategy and standards at Moody’s said. She said many of the risks involved with worsening credit do not become apparent because of a general lag within the industry: Before a customer has a difficult time paying a creditor, something must affect the customer’s ability or willingness to pay. While some risk factors may begin to pop up, they will not reach the credit department as quickly. Some of the pressure points Verde brought attention to involved record low-rated issuers, risk appetite showing signs of strain and particular industries facing economic strain (for example, oil and gas customers dealing with more debt than previous years). Generous market conditions for creditors has created an environment for more defaults, leading to worse recoveries in the event of an economic crisis. “Neither corporate profit growth currently nor rating activity suggests there will be a meaningful upturn in the default rate in 2019,” Verde said. “However, we would say an enormous amount is relying on the macro environment staying relatively good because we do have a record low number of well-rated issuers.” Continued on page 19>> MARCH/APRIL 2019 PAGE 9

NACM Connect - Missouri - Kansas City

2019

NACM CONNECT ANNUAL MEETINGS The Premier Spring Event for Credit Professionals

9:00 A.M.

April 23

MISSOURI Kansas City

REGISTRATION

9:15 – 9:30 A.M.

OPENING REMARKS Phil Lattanzio, President, NACM Connect

9:30 –10:30 A.M.

TRANSFORMING YOUR CREDIT DEPARTMENT FROM RE-ACTIVE TO PRO-ACTIVE Speakers: Bob O’Brien, Leader Partnership Solutions, Dun & Bradstreet

10:45 – 11:45 A.M.

THE CHALLENGE OF COLLECTIONS EFFORTS Panelists: Staci Cima, CCE, Corporate Credit Manager, Huttig Building Products; Joni Vander Linden Page, CBA, RGCP, Corporate Credit Manager, Dairy Farmers of America, Inc.; Jen Price, Credit & Collections Supervisor, Terracon Consultants, Inc.

11:45 A.M. – 1:00 P.M. 1:00 – 2:00 P.M.

ANNUAL MEETING LUNCHEON

A ROUNDUP OF HOT LEGAL TOPICS AFFECTING THE CREDIT TEAM IN 2018 - AND EXPECTATIONS FOR 2019 Speaker: Scott Blakeley, Esq. Blakeley & Blakeley LLP

2:15 – 3:15 P.M.

THE DARK CLOUD BEHIND THE SILVER LINING – FIVE THINGS TO WORRY ABOUT IN 2019 Speaker: Chris Kuehl, PhD, Managing Director, Armada Corporate Intelligence

3:15 – 5:00 P.M.

BUSINESS MEETING AND NETWORKING EVENT (HORS D’OEUVRES AND OPEN BAR)

ALL REGISTRATIONS ARE TAKEN ONLINE AT

WWW.NACMCONNECT.ORG THE INTERCONNECTION

MARCH/APRIL 2019

PAGE 10

News

When Technology Isn’t Enough: Personalizing the Creditor-Customer Relationship Andrew Michaels, Editorial Associate, NACM

redit managers are seeing the profound effects of technology in their day-to-day operations. Software programs are conducting credit investigations, sending customers collection notices and even handling payments once they are received. In a job where efficiency is key, technology is certainly beneficial; however, credit professionals are finding there is one task technology cannot replace: personalizing the creditor-customer relationship. Picture this scenario: A customer of more than 10 years has fallen behind on a payment but has a clean history of making payments on time, with little to no disruption to the credit department’s cash flow. Within the past month, the credit department implemented new software to send email alerts to customers for failed payments—a task previously handled by credit managers—that warn the customer incoming orders will be withheld until payment is received. What the email doesn’t acknowledge is a prior conversation between the creditor and customer during which the latter explained the reason behind the late payment, which was made shortly after the discussion. The technology did not go awry and, in fact, did the job it was meant to do; the customer was notified of a late payment. However, the collection email system did not have the capability to include information from the phone call between the creditor and customer upon which the late payment issue was resolved. The one-on-one conversation is a prime example of a personalized discussion that technology cannot replace. “When you have a customer base of 24,000, you have to have some type of automation. There’s no way around it,” said Stephen Savino, corporate credit manager for Assa Abloy Americas in New Haven, Connecticut. “We use

automatic dunning letters, but we only use them very sparingly on client balances that are below a certain level where you can’t physically connect with that person.” Although useful, Savino noted, automatic dunning letters aren’t his company’s go-to tactic to inform customers their account will be placed on hold. Instead, a person will contact the customer before the automatic alert is sent. As director of customer operations in finance for UPM-Kymmene Corporation, Pia Porvari, CICP, has several duties, including credit and collections. The forest-based bioindustry company headquartered in Finland began automating its credit process in 2017, with 50% of credit decisions now completed by automation. Credit decisions previously completed by two

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dozen people are handled by software, she said, but a handful of people remain onboard for certain exceptions. “If the customer swims through the scoring, the automation makes the credit decision,” Porvari said. “But if the scoring model provides a result that isn’t efficient enough, then those analysts look over the available information more thoroughly and may go to meet with the customer.” Porvari said she also meets regularly with customers to keep the dialogue open. In return, she is able to stay on top of what’s happening in the industry. “Graphic paper consumption goes down annually, so it’s important for me to understand how these customers see the decline and how they address those issues,” she said. Continued on page 19 >> MARCH/APRIL 2019 PAGE 11

NACM Connect - Missouri - St. Louis

2019

NACM CONNECT ANNUAL MEETINGS The Premier Spring Event for Credit Professionals

9:00 A.M.

April 25

MISSOURI Maryland Heights

REGISTRATION

9:15 – 9:30 A.M.

OPENING REMARKS Phil Lattanzio, President, NACM Connect

9:30 –10:30 A.M.

BANKRUPTCY BASICS Speakers: Tom Fawkes, Esq. and Brian Jackiw, Esq., Goldstein & McClintock

10:45 – 11:45 A.M.

THE DARK CLOUD BEHIND THE SILVER LINING – FIVE THINGS TO WORRY ABOUT IN 2019 Speaker: Chris Kuehl, PhD, Managing Director, Armada Corporate Intelligence

11:45 A.M. – 1:00 P.M. 1:00 – 2:00 P.M.

ANNUAL MEETING LUNCHEON

THE CHALLENGE OF COLLECTIONS EFFORTS Panelists: Staci Cima, CCE, Corporate Credit Manager, Huttig Building Products; Larry Lipschutz, CCE, CICP, Director Credit and Collections, French Gerleman; Curtis Litchfield, CCE, Financial Analyst, Land O’ Lakes

2:15 – 3:15 P.M.

SETTING AND USING SMART GOALS FOR YOU AND YOUR TEAM Speaker: Brittany Guritz, Credit, Collections and Customer Service Manager, Tacony Corporation

3:15 – 5:00 P.M.

BUSINESS MEETING AND NETWORKING EVENT (HORS D’OEUVRES AND OPEN BAR)

ALL REGISTRATIONS ARE TAKEN ONLINE AT

WWW.NACMCONNECT.ORG THE INTERCONNECTION

MARCH/APRIL 2019

PAGE 12

NACM Connect - Southwest

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!

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

Try NACM Southwest 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 2019 PAGE 13

News

Thoughts on Win/Win and Lose/Win in the Credit & Collections Arena Larry Grogan, CCE

ears ago, Stephen R. Covey popularized the concept of the Win-Win mindset in his bestselling book “The 7 Habits of Highly Effective People”. “Think Win-Win” is habit # 4. Simply put, people who chose to win and make sure others also win have a Win-Win mindset. There is another mindset covered in the book which is worth pondering: Lose-Win. Let’s first apply it to people, then to Credit & A/R in organizations. Lose-Win is when people choose to lose and let others win. It’s noted these people “show high consideration for others but lack the courage to act on their feelings and beliefs. They are easily intimidated and borrow strength from acceptance and popularity…they voice no standards, no demands and no expectations of anyone else. And are quick to please or appease”. Sadly, in the credit & collection arena, Lose-Win often becomes a supplier’s default position in 2 key areas impacting their company’s lifeblood, also known as cash. The first area is the most common and some would think it represents Win-Win: suppliers holding orders for payment leverage. It could be argued trading queued orders for cash is quite effective, but in most cases, the supplier’s cash stays in its customer’s bank account far longer than it should. And if the supplier did not have an order in the queue to hold, their customer would likely delay payment even longer. The second area is becoming more common and represents an even longer, entrenched delay of cash receipt: conceding to terms of sale that are 2, 3 or even 4 times the suppliers’ standard terms of sale. It usually starts with a form letter from the customer justifying the request due to some new push for efficiency or shift in their marketplace. It’s followed by the supplier underestimating their value to the customer while overestimating the

odds the customer will replace them with another supplier if they don’t cave in and approve the new terms. The supplies loses and the customer wins. Some might disagree, but companies who believe they must accept the new terms ‘as is’ suffer from what could be called low company esteem which puts them in a Lose-Win position with their customer. One symptom might be an out of date credit policy that does not put limits or conditions on this extreme and costly expansion of payment terms. While logical negotiation strategies might include a) say ‘no’ and see what happens next, b) concede a few days or c) ‘split the difference’, some act as if its non-negotiable and approve the terms as requested. Many would be surprised to find the customers sending the form letters are often surprised by how effective they are! In other words, if they can get 80% of their suppliers to concede terms simply by sending a letter, why bother the other 20% if they decline to do so? If it were 2008 all over again, the percents noted would make sense. But it’s 2019 and the economy is booming. The purpose of this article is to brainstorm ways companies with this Lose-Win mindset can change it to Win-

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Win in both of the important areas noted above. Let’s look at what constitutes a ‘win’ for the customer: A supplier provides its customer with things they value and require: a quality product, delivered on time, in the correct quantity, at the agreed upon price and on open account terms. The supplier is easy to do business with, provides strong customer service and in the end satisfies its customer’s needs, over & over again. You have just read a list of 8 tangible benefits that nearly every company provides as they fulfill their customer’s orders. Whether you call it one overall win or eight smaller ones, it completes the customer’s side of what could be called the ‘Win-Win ledger’. Now let’s look at what constitutes a ‘win’ for the supplier: payment from its customer for the dollar amount noted on the invoice, to be received by or on the due date as calculated based on their standard terms of sale (both of which are clearly noted). However, after providing all the benefits noted above, payment is usually delayed. As a result, collection calls have to be made, emails sent, and orders held, not to mention the additional delays brought about by mail or float time and broken promises. MARCH/APRIL 2019

PAGE 14

News Eventually, the payment comes in long after the due date and the supplier has ended up with a ‘loss’ on their side of the ‘Win-Win’ ledger. This can often be tracked back to operating with a habitual Lose-Win mindset. In the world of trade credit, this LoseWin mindset has evolved over time to the point where the time value of money owed to a supplier gets little to no respect. Collectors who work hard to persuade a customer to pay a Net 30 invoice on a timely basis have to work just as hard to get a customer who was given Net 90 to pay within those terms. Agreeing to longer terms leads to increased borrowing costs, increased collection costs and increased credit costs (monitoring, analysis, re-setting credit limits etc.). And if the customer gets into financial difficulty, it may be months before the supplier realizes it. This can potentially lead to increased bad debt expense. Suppliers are realizing they simply cannot afford the increasingly aggressive erosion of their selling terms. The payment terms expansion form letters are not seeking 10-15 additional days to pay. Many are requiring 60-90 additional days, more than one quarter of a year! That’s bad enough. But some customers are moving from 2-3 check runs per month to just one. Miss the cut-off date, and payment might be delayed another 1530 days. Brainstorm Ideas to move from a Lose-Win mindset to Win-Win: Being a believer in the value of brainstorming, many of my articles are intended to be idea starters. I hope what the reader finds here is helpful and leads Credit & A/R teams to develop effective strategies to stem further erosion of their selling terms.  Set up your company’s ‘win’ at the very beginning of the Customer relationship: Embed terms of sale in your credit application and contracts. Enforce it in your collection calls and emails. Train sales people to let their customer contacts know that the company takes its terms and conditions very seriously, especially terms of sale.

Customers usually have exception lists with the names of companies

they know won’t budge on terms. Aim from the very beginning to earn a place on that list by protecting and defending terms at every opportunity. Many companies don’t realize how doing so can actually improve the perceived value of their product or service. In effect, your company is saying “Our product / service is so good, we are not going to cheapen it by tolerating anything that makes it seem like a commodity where the only thing a buyer cares about is payment terms”.  Know your Customer’s ‘win’ & hold them accountable for your ‘win’: Find ways to remind the A/R and Credit Team of the value the company provides to its customers. Day in and day out, your products & services meet needs, solve problems and touch lives. Working in the office, it’s easy to miss how well it serves its many stakeholders. The more the team is in touch with the unique value their company provides, the more effective they can become at holding customers accountable for delivering your ‘win’ in the form of payment as close as possible to your terms of sale.

In the same way a customer holds its supplier accountable for ontime delivery of the goods they purchased, collectors should hold the customers accountable for their on-time payment of cash. This is Win-Win thinking at its best. It becomes Lose-Win when the supplier treats the delivery date as if it is chiseled in stone while allowing the customer to treat the invoice date like it is written in sand.

 Reinforce the idea that collections is more than just moving a payment date from your Customer’s computer to yours. Calling for payment dates may send the message that your company only cares that payment is or will be on the way, rather than that it should have been sent much earlier as per terms of sale. Once a payment date is nailed down, but before the call is concluded, the collector should leave no doubt in the customers mind that sooner payment is expected in the future. It can be stated in a friendly, benefit focused way as follows: “If you can

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arrange to schedule our payments 5 days sooner, I would not need to call you about payments and you would not need to call me about releasing your orders. Sounds like a win-win. Is there anything I can do to help you make this happen?”  The goal is to gradually change a Customers payment behavior with each contact in order to get paid sooner every time. There are many ways to accomplish this. For example, on every call, form the habit of working in phrases that display high standards and well-defined credit & collection tolerances. For example: “Our terms are Net 30, what terms are you paying us at?” This open the door to remind your customer contact of your company terms and your expectation to be paid accordingly. If they say they are paying you at 45 days instead of 30, it opens the door to see if that means getting payment on the 45th day or the 55th day. Once they know you know how late they really pay, you can strive sell them on mailing their check near the 40th day as a rule so you have it by the 45th day.  Challenge payment dates: When a customer shares a payment promise date several days away from now, there is no harm in pausing to counter with a request to be paid sooner. In negotiations, this approach is often called ‘don’t take the first offer’. For example: “Our invoice is already 14 days pastdue. While I appreciate the fact you have set it up for payment, waiting another 2 weeks plus mail time to receive it is unacceptable. I’m unable to release your order unless that check is on the way to us today or at the latest tomorrow. Please check to see what you can do to make this happen”. You might add, “If you Fed-Ex that check or wire the finds, I can release your order today once I verify receipt of funds. I can email you our bank information so you have it handy when your payments are running late”.

If the request does not result in a change, it has nonetheless made an impression. The conversation can end with a forward-looking comment Continued on page 16 >> MARCH/APRIL 2019 PAGE 15

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Thoughts on Win/Win and Lose/Win in the Credit & Collections Arena <<Continued from page 15

like this: “OK, I’ll note it. Next time around, it would be great if we could get paid closer to our terms of sale of Net 30. We’d both save time – less calls, less order holds”. Each call can function like a commercial for your credit terms and payment standards.

 Your Customers are students of your collection process: Your customers are often waiting for cash from their customers and never have enough to pay all their bills on time. You don’t know how skilled they are at extending credit and managing collections. You may not know if they have a line of credit with their bank and how much is available on it. But you do know, stretching trade creditors is the interest-free approach they are most likely to use when they run low on cash. It’s logical that they become students of what their creditors will tolerate. They listen to your words and watch your actions closely. They can tell if a collector cares more about just getting a payment date than they care about actually getting paid sooner.

Picture this: a company has an instructional poster on the A/P office wall that reads: “Our policy is to cut the check and put it in a drawer. When a supplier cares enough to call us looking for it, open the drawer, find the check, and tell them you will mail it in 5 days. If they don’t object, mail it in 5 days. Do the same next time another invoice falls due. Then wait for their call. Only this time tell them it will mail in 10 days. And if they don’t object…”

 Use conditions effectively: if the Customer meets them, you have a win. If they don’t, you have a basis for ‘no’. If you find you must accept the proposed longer terms for business reasons, add conditions to bring it closer to a Win/Win. For example, since the new terms may dramatically increase your exposure & risk and require a higher Credit Limit, it would be logical to require your customer to provide financial statements (if they haven’t already)

so you can determine if there is sufficient creditworthiness to support the increase. If not, you might require some form of security such as a Letter of Credit for a portion of the Limit. If the customer declines to meet your conditions, you have a firm basis for declining their request.

Keep in mind some requests for longer terms are based on need rather than greed so it’s prudent to know as much as you can about the customer’s financial condition before agreeing to these requests. Why? Once granted, it may be impossible to reel them back in. While granting terms may give the customer the win they were seeking, unless they are on EFT, what’s to stop them for stretching terms another 15-30 days? Unfortunately, conceding terms often leads to more disrespect, not less. That’s why some creditors will make EFT a condition for agreeing to an aggressive expansion of terms: they win some certainty as to when they will actually get paid.

dollar impact the proposed terms will have on your working capital requirements. Use / share that number as your basis for saying ‘no’ or for making a counter-proposal.

 4 collection call types can be more effective than one. 99.9% of all collection calls going into an A/P department are seeking a payment date and a check #. Here is an easy way to differentiate yourself and company from other competitors for your customer’s scarce cash: 4 distinct call-types, each with a unique objective. a) Standard collection call: in general, the focus is on getting payment dates,negotiating sooner payment if possible and setting the stage for payment behavior change. b) ‘Coming to terms’ call: a call that functions as a fact-finding mission to determine why the customer is paying beyond standard terms of sale and what can be done by both supplier and customer to ensure future payments are closer to supplier terms. Here it’s important to order the relationship this in way: the supplier sets the terms of sale, not the customer. The customer may have a policy of paying Net 45 instead of the honoring the supplier’s terms of Net 30. But as long as the customer sets the delivery date and expects its supplier to honor it, the customer should honor the due date established by the supplier’s terms of sale as noted in the credit application and on the invoice.

 How to respond to the Customer form letter requesting longer terms of sale? Be honest. Consider the following reasons for declining if they are applicable:

a) We are unable to cash flow your request at this time.

b) Our experience with agreeing to the terms you are requesting have not worked out well for us financially and have increased our borrowing and collection costs. We respectfully decline your request at this time.

c) We may be open to a temporary expansion of terms to help a customer through a difficult period (as we did in 2008) but believe a permanent need for longer terms should be handled by our customers using a bank line of credit.

d) As a company, we fundamentally believe it is wrong to give some customers longer terms while requiring other customer to adhere to our standard terms.

Another approach: calculate the

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In all cases, it is wise to involve sales, marketing, legal, credit & A/R in the decision. There are other factors to consider including margins, competition, plant capacity, seasonality etc.

This is the call that educates the customer that your product & service deserve their ‘payday’. It’s also where the customer learns your company has standards and a low tolerance level for customers who stretch them. Remember, in many ways, we teach our customer MARCH/APRIL 2019

PAGE 16

News how to treat us, especially if we are willing to let the relationship become an unbalanced, Lose-Win proposition.

This call may identify a temporary need the customer has due to a strike, natural disaster or seasonality in their business. Most creditors are willing to help a customer in need, providing it’s understood normal terms of sale will prevail when their circumstances improve. This is another example of a true Win-Win. It also is an example of Habit 5 of the 7 Habits: “Seek first to understand, then to be understood”. c) Method of Payment Change call: a call where the only subject is moving the customer to a payment method that is more advantageous to the suppler. Said another way, how can a supplier run a campaign to move its customers away from paper checks to electronic means including EFT, ACH or credit card? You may have seen how some organizations set up a thermometerlike exhibit on a poster board to track their progress in reaching a fund-raising goal. The same visual can be used to track the progress of a campaign to move customer to electronic invoicing or away from paper checks in favor of an electronic payment method. d) Thank you calls: Win-Win comes about from having an abundance mindset which causes the holder of it to believe we all can win - there is always a way or another alternative we may not have thought of. Earlier it was noted what constitutes a win for the customer and for their supplier. For example, when a customer goes the extra mile to pay an invoice at the end of the month or quarter or agrees to permanently change their payment behavior for the better, a nice thank you is in order. This is another excellent opportunity to differentiate yourself from other companies and collectors: “Hi Judy – Bob from ABC Company. I’m just calling to let you know how much I appreciate your Fed-Ex’ing your payment to me on the 31st. You created a ‘win’ for both of us and I really appreciate it”.

 Turn your email into a collections marketing tool: Add an eyecatching footer statement or slogan to your collection emails that directly or indirectly suggests a reason or motive for timely payment of your invoice. Here are 3 examples:

proactively recommend a change in terms of sale to pre-pay or suggest obtaining security to mitigate (lessen) the risk, and trigger your company to set-up a bad debt reserve

c) By effectively resolving disputes and improving the process so the root cause of the dispute is prevented in the future, A/R will consistently turn-over faster which should lower DSO and improve aging

2) “A sale is not complete until the money is collected – I appreciate your help in enabling me to complete all the sales noted in this email”. And ...

d) Collecting the A/R directly adds to the Cash Flow from Operations number by your causing cash to move from customer’s bank to your company’s bank

3) “Timely payment saves everyone’s time: fewer collection calls, fewer orders held in the queue – a true Win-Win!”

These can be rotated every few weeks. Some of these may seem a bit corny, but they serve as one more aspect of your collection approach that differentiates your company from other creditors in the eyes of your customer. The goal is to stand-out from the crowd, to be memorable. Like a brand.

e) A/P: the more cash the company has available, the sooner it can pay its bills and where applicable, take advantage of cash discounts for early payment

f) Line of credit / notes payable: the faster money is collected through quality collection calls and effective dispute resolution, the less the company will have to borrow. This lowers interest expense which is turn increases bottom line profit.

Connecting collector performance to the company’s success can go a long way towards increasing the likelihood of them taking pride in the important role they play in increasing the probability of achieving a Win-Win relationship with the customer.

1) “Our Customer’s ‘win’: quality product, on time delivery, for agreed quantity, at correct price, all supported by excellent customer service. Our ‘win’: timely payment per agreed upon Terms of Sale”.

 Incentive / bonus opportunities for collection team members: Nothing produces laser beam-like focus on an objective like a tangible incentive. It could be as simple as a $50 monthly bonus for achieving or maintaining a certain aging % in the 90+ bucket. Or a $25 bonus for converting a customer, who habitually pays as a matter of their policy at Net 60, back to Net 45 or even Net 30. Experimentation in this area could lead to much better DSO and aging. The benefit will far exceed the cost.  Collectors not only improve DSO & the aging, but also impact the 3-key financial statements. Take a time out to acknowledge the credit & collection team specifically for how their efforts impact the company’s financial statements: Here are some examples:

a) A/R: by collecting money sooner, you add to the company’s Cash balance, improving its liquidity

b) By spotting a bankruptcy in the making you can hold orders,

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 Collection Team Activity: meet to formally define the elements of a) a quality collection call b) a quality collection email text. I’ve never met a collector who had a degree in credit or collections so the work experience of those in the field might be more varied than in most other professions. This diversity is a strength to be leveraged. Host a workshop or series of workshops to document capture the collective wisdom of the team as they answer a few key questions: “What are the attributes of a quality collection call? And a quality collection email? Let’s come up with a list or template”. A related topic would be: “What excuses are you hearing from customers and how are you Continued on page 18 >> MARCH/APRIL 2019 PAGE 17

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Thoughts on Win/Win and Lose/Win in the Credit & Collections Arena <<Continued from page 17 overcoming them? Let’s come up the best answers and commit them to a script we all can follow”. And “Let’s document some of our best practices when it comes to dealing with customer payment portals, unauthorized deductions and customer form letters that attempt to unilaterally add 2-3 months to current terms of sale”. This activity is also represented in the “7 Habits of Highly Effective People’: Habit 7: “Sharpen the Saw”. It’s about taking time for continuously improving your skills and productive capacity.  Rate your Customers based on how they pay your company Many Credit teams assign a risk rating to an account based on their financials using ratio analysis, public ratings, and payment experience with other suppliers as per a D&B or Experian Credit Report. Examples of ratings include Low / Medium / High Risk or a 1-10 rating scale etc. A collection team can do something similar once they get to know a customer and their payment habits / patterns. For example: a rating of 1, 2 or 3 with 1 representing a customer who pays as per terms, 2 for a customer who stretches terms by 15 or more days and 3 for one that is unreliable, pays late and frequently breaks promises. A ‘+’ can be added after the rating number if improvement is noted and a ‘-‘ can be added if deterioration is observed. This can help in team goal setting. For example. Collector ‘A’ might have 20 accounts that are rated ‘3’. Their goal for the quarter might be to move 20% or 4 of the accounts to a ’2’ rating by intentionally focusing on changing their payment behavior by using conditions or consequences. For example: ‘Order 1234 will release if terms of Net X are agreed to ahead of time’. Or ‘payment beyond X days will lead to the loss of open account terms’. Another use of this approach: assign accounts rated ‘3’ to a collector who demonstrates a skill for turning poor paying accounts around. A final use: share a list of payment ratings with the Credit

“

A Collectors Credo: My job is like selling in many ways. I identify who can help me, make my pitch, listen for and overcome objections and ‘close the sale’. Team for them to factor into their credit decisions and overall risk ratings. If there is high credit risk and high payment risk, add it to a Watch list for frequent monitoring.

 A Collectors Credo: My job is like selling in many ways. I identify who can help me, make my pitch, listen for and overcome objections and ‘close the sale’. The biggest difference between a sales person’s role and my role is this: sales people make calls to create obligations while I make calls to hold people accountable for obligations they have already agreed to. Specifically, the dollar amount of my company’s invoice and it’s due date. A business can reject a sales person’s pitch and often do, but they are obligated to deal with me as I represent my company’s legitimate claim on their cash. I can hold orders, set the conditions for their release and implement consequences for slowpay or broken promises, in line with what is in the credit & collection policy. I wear many hats and know the end result of my work favorably impacts my company’s financial statements, lowers its borrowing costs, and reduces its bad debt. I take a Win-Win approach with every customer, on every call and in every negotiation.

When my company sells using open account credit terms, it leaves itself vulnerable to both slow-pay and nopay. That’s the reality. But what is good about it? Sales on credit terms enable more sales! And sustains my employment. With every collection call I make and every order I hold for ‘cash leverage’, I’m enabling my company to succeed and thrive in its marketplace where Cash is, and always will be, king.

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FOR YOUR DEVELOPMENT AS A COLLECTOR: Get P.A.I.D.: “A Guide to Getting Paid Faster” by Robert S Bernstein, Esq. Reading this book or others like it as a team or individuals, could potentially take the team to a new level. “7 Habits of Highly Effective People” by Stephen R. Covey: See Chapter on Habit 4: Win/Win. This is a good model to adapt and incorporate into a credit & collection policy. One of the best applications is when a customer requests expanded terms of sale. It’s up to the creditor to counter-offer and/ or add a condition that must be agreed to before the change is eligible for consideration. If customer wants 30 more days to pay, you can decline, split the difference (concede 15 days) or approve the request ‘as is’. You can add one or both of the following conditions: a) financial statements must be provided b) payment method must change from check to EFT. Without any conditions, you have given up 15-30 days of Cash benefit, increased your credit risk due to additional exposure and may still have late payment issues if the customer continues to pay by check. This results in a Lose-Win outcome. Any book on selling. The topic of ‘overcoming objections’ can be especially useful since any excuse for slow-payment deserve a well thought out and scripted answer that can be used by everyone on the collection team (until someone comes up with a better answer!). It’s a proven fact that sales people who effectively overcome their prospect’s objections, actually close more sales. It’s a good bet that collectors who have well thought out, even scripted answers to payment excuses, collect more money. MARCH/APRIL 2019

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Credit Outlook 2019 Any book on acting: at the time of this writing, the person we are talking to on a collection call cannot see us, nor can we see them. We form impressions of each other primarily by our voices (our written communications are also part of our image). I once read a few pages of book of scripts from the Seinfeld show and was impressed by how actor Jason Alexander breathed life into those dry words on paper and transformed into George Costanza! Everyone has some level of charisma. How well does your phone voice communicate the emotions of friendliness, concern, disappointment, or gratitude? What do actors do to create a character? How do they pace their conversations? Use pauses effectively? Attract and hold the attention of others? Cause you to like them (or hate them)? Acting text books generally have a few pages covering these topics. Join a Toastmasters Club (toastmasters.org): A portion of every Toastmaster meeting is dedicated to helping members improve their ability to ‘think on their feet’. Usually, a topic is given, and someone is called at random to come up to the podium to speak on it for at least 1.5 minutes. The person only has the time it takes to move from their chair to the podium to formulate a response. This skill can prove to be most helpful in the business world where you are on a difficult call and are pressed to come up with a solution on the spot. Or when faced with making that impromptu ‘elevator speech’. ■ Larry Grogan, CCE, is a Credit Analyst with BP Products NA. With over 25 years of credit experience, Grogan played a lead role in implementing credit score carding at BP and is past Chairman of the NACM Midwest Board of Directors. Grogan received a Bachelor of Science degree in Marketing from Bradley University and an MBA from Benedictine University. He is also a graduate of NACM’s Graduate School of Credit & Financial Management at Dartmouth College. Grogan is currently on the faculty of NACM Connect’s Institute of Credit’ and has taught classes, seminars and delivered on-site training on the topic of Financial Statement Analysis.

<<Continued from page 9 Should the economic health of the U.S. remain steady, the cause for creditors to panic will not be evident. According to Moody’s analyses, the numbers are beginning to dip, and a large factor keeping the ratings up revolves around a healthy economy. Unlike 2017

and 2018, the momentum for 2019’s economy began to slow. While this slowdown will not see any immediate impact on creditors, they should still be mindful of the possible dangers to come ahead later in the fiscal year. ■

When Technology Isn’t Enough <<Continued from page 11

“

Sometimes, the customer will say, ‘We can’t pay this $200,000 invoice in 60 days.’” The value that I would add to that relationship is, ‘I have three different thirdparty finance sources. Let me give you a quote.’

Relationship building is critical for businesses that rely on service and pricing, said Savino. For example, in the electrical distribution industry, it is likely there are dozens of electrical distributors who are all selling the same product within a five-mile radius. But where they differ is service and price. High-tech companies, such as Assa Abloy, must focus on what Savino calls the “relationship added.” “Sometimes, the customer will say, ‘We can’t pay this $200,000 invoice in 60 days,’” the credit manager explained. “The value that I would add to that relationship is, ‘I have three different third-party finance sources. Let me give you a quote.’ We’re dealing with electronic portals and when there are problems, we’re dealing with a website that tells us why something hasn’t been

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paid. How do you develop a relationship with a website? You don’t. It’s critical to connect with a human being.” The days of taking customers out for a round of golf or dinner are infrequent, Savino added. Credit managers are now adapting to new relationshipbuilding strategies, such as establishing the “give-and-take.” For instance, if customers operate electronically, creditors should ask customers to explain their electronic process flow, how to operate through an electronic portal and how to proceed when there are issues with billings within the portal. As businesses adapt to their customers’ process flow, credit managers are enhancing their customer service. Technology can take care of the menial jobs, Savino said, but it still takes actual people to run the technology. ■

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Call Craig Smith at 847.483.6484 or email craig.smith@nacmconnect.org to learn

NACM Connect

NACM Connect Welcomes New Staff Members Kalai Bala Marketing Coordinator

NACM Connect is happy to introduce our new Marketing Coordinator, Kalai Bala. Kalai earned her Masterâ&#x20AC;&#x2122;s degree in Statistics from University of Madras, India. She worked in administrative and teaching position for a Computer training Institute before migrating to United States in 2006. She decided to spend the early years with her two kids along with constantly updating herself with various software skills including programing languages and Quality Assurance. After migrating to Canada in 2015, Kalai reinvented her passion for design and earned Diploma in Graphic Design from Windsor Career College, Canada in 2017. Kalai worked in various positions including E-Commerce/ Digital Marketing Specialist and Freelance Graphic Designer since 2017. In her free time, Kalai enjoys music, cooking different cuisine and spending time with family. Kalai can be reached by phone at 847.483.6409 or by email at kalai.bala@nacmconnect.org.

Laurel D'Angelo Accounting Administrator

Laurel began her career as a Credit Manager in consumer electronics and was a member of NACM and Riemer through her company. She used to attend CES, winter and summer, and other trade and credit shows/conferences. Having taken a hiatus from working, Laurel concentrated on family, including the family construction business. She then pursued an architectural design degree during her years in the family construction business but switched to a business and accounting major. Laurel was a member of NAWIC (National Association of Women In Construction) for a few years. Laurel spent the next several years in administrative roles for a restaurant franchise management company working with 25 stores in 5 states while raising her children as a single mother. In 2007, she served as a Senior Business Process Coordinator in International Relocations focusing on general accounting, invoicing, payables, business process and data integrity until her current role as an Accounting Administrator for NACM Connect. Laurel has volunteered for the Womenâ&#x20AC;&#x2122;s Clubs, USO, Meals at Home, Honor Flight, PTA and most notably, the Scouts. Laurel holds an Associates degree in General Studies with a focus on business and accounting, an Architectural CAD certification, and several other certifications through various trade and education organizations. Laurel enjoy music, literature, road trips, camping, education, bike riding, history, science, architecture, Indy Car racing, family and friends. Laurel can be reached by phone at 847-483-6415 and by email at laurel.dangelo@ nacmconnect.org.

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MARCH/APRIL 2019

PAGE 22

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

GROUP

MEETING LOCATION

March 12

Electrical Distributors Credit Group

Ditka's, Oakbrook Terrace, IL

March 12

Institutional Credit Association Credit Group

Ditka's, Oakbrook Terrace, IL

March 14

Northern Illinois Heating & Plumbing Wholesalers Credit Group

Devon, Oakbrook Terrace, IL

March 19

Metal Distributors Credit Group

Ditka's, Oakbrook Terrace, IL

March 21

Ad Media Credit Group

Hubbard Broadcast - WTMX-FM, Chicago, IL

March 28

Basic Material Credit Group

Ditka's, Oakbrook Terrace, IL

April 9

Electrical Distributors Credit Group

Ditka's, Oakbrook Terrace, IL

April 11

Northern Illinois Heating & Plumbing Wholesalers Credit Group

Greek Islands, Lombard,, IL

April 16

Metal Distributors Credit Group

Michael Jordan's, Oak Brook, IL

April 17

Floor Covering & Wall Tile Credit Group

Conference Call

April 18

Ad Media Credit Group

Weigel Broadcasting - WCIU, Chicago, IL

April 25

Basic Material Credit Group

Michael Jordan's, Oak Brook, IL

NACM Connect - Missouri/Kansas Local Industry Credit Group Meetings DATE

GROUP

MEETING LOCATION

March 1

Mid Missouri Construction Credit Group

Bartolino's, St. Louis, MO

March 14

Kansas City Building Materials Credit Group

Hereford House, Leawood, KS

March 19

Midwest Regional Food Credit Group

NACM Missouri Office, Creve Coeur, MO

March 20

Electrical Distributors Credit Group

Bartolino's, St. Louis, MO

March 22

Refrigeration Warm/Cool Air Suppliers Credit Group

Bartolino's, St. Louis, MO

April 11

Kansas City Building Materials Credit Group

Hereford House, Leawood, KS

April 12

Refrigeration & Warm/Cool Air Suppliers

Bartolino's, St. Louis, MO

April 16

Midwest Regional Food Credit Group

NACM Missouri Office, Creve Coeur, MO

April 17

Electrical Distributors Credit Group

Bartolino's, St. Louis, MO

April 24

Ag Credit Group

NACM Missouri Office, Creve Coeur, MO

NACM Connect - Nebraska Local Industry Credit Group Meetings DATE

GROUP

MEETING LOCATION

March 12

Omaha Builders Credit Group

Teleconference

April 9

Omaha Builders Credit Group

Teleconference

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MARCH/APRIL 2019 PAGE 23

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

GROUP

MEETING LOCATION

March 12

Michiana Credit Association Credit Group

Lucchese's Restaurant

March 12

Electric Industrial Supply Credit Group

Pietro's, Grand Rapids, MI

March 13

West Michigan Heating & Plumbing Wholesalers Credit Group

Brann's, Grand Rapids, MI

March 14

Indiana Wholesale Floor Covering Credit Group

Conference Call

March 14

Columbus Wholesale Electric Supply Credit Group

Becker Electric Conference Room, Columbus, OH

March 14

Lumber & Building Materials Credit Group

Pietro's, Grand Rapids, MI

March 15

Fort Wayne Building Materials Credit Group

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

March 19

Indiana Electrical Suppliers Credit Group

Becker Conference Room, Indianapolis, IN

March 19

Automotive Suppliers Credit Group

Conference Call

March 20

Indianapolis Building Trade Suppliers Credit Group

Blueberry Hill, Indianapolis, IN

March 20

Metal Service Center Credit Group

Antonio's, Canton, MI

March 21

Michigan Electric Supply Credit Group

Antonio's, Canton, MI

March 21

Cincinnati Dayton Wholesale Electric Credit Group

Century Inn, Cincinnati, OH

March 27

Plumbing & Heating Wholesalers Credit Group

Blueberry Hill, Indianapolis, IN

March 27

Cincinnati Construction Suppliers Credit Group

UNO's Pizzeria & Grill, West Chester, OH

March 27

Cleveland/Akron/Canton Food Suppliers Credit Group

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

April 9

Electric Industrial Supply Credit Group

Main Street Pub, Kalamazoo, MI

April 10

West Michigan Heating & Plumbing Wholesalers Credit Group

Brann's, Grand Rapids, MI

April 4th

Michiana Credit Association Credit Group

Lucchese's Restaurant

April 11

Columbus Wholesale Electric Credit Group

Becker Electric Conference Room, Columbus, OH

April 16

Indiana Electrical Suppliers Credit Group

Becker Conference Room, Indianapolis, IN

April 16

Automotive Suppliers Credit Group

Conference Call

April 17

Indianapolis Building Trade Suppliers Credit Group

Blueberry Hill, Indianapolis, IN

April 17

Metal Service Center Credit Group

Antonio's, Canton, MI

April 18

Michigan Electric Supply Credit Group

Mojave Cantina, Clawson MI

April 18

Cincinnati Dayton Wholesale Electric Credit Group

Century Inn, Cincinnati, OH

April 19

Fort Wayne Building Materials Credit Group

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

April 24

Plumbing & Heating Wholesalers Credit Group

Blueberry Hill, Indianapolis, IN

April 24

Cincinnati Construction Suppliers Credit Group

UNO's Pizzeria & Grill, West Chester, OH

April 24

Cleveland/Akron/Canton Food Suppliers Credit Group

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

THE INTERCONNECTION

MARCH/APRIL 2019

PAGE 24

Credit Group Meeting Calendar NACM Connect National Industry Credit Group Meetings DATE

GROUP

MEETING LOCATION

March 7

National Paper Packaging Credit Group

Embassy Suites, San Diego, CA

March 13-15

National Manufactured Housing Credit Group

Bourbon Orleans Hotel, New Orleans, LA, 2-day

March 14

National Garage Door & Operating Devices Credit Group

Marriott Downtown, Indianapolis, IN

March 14-15

National Underground Utilities Supply Credit Group

Embassy Suites, Birmingham, AL, 2-day

March 18

SAP Users Group

NACM Connect, Rolling Meadows, IL

March 21

National Firearms and Ammunition Credit Group

DoubleTree, Charleston, SC

March 21-22

National Metal Producers Credit Group

Four Points by Sheraton, New Orleans, LA, 2-day

March 21-22

National Lawn & Garden Equipment Credit Group

Loews, Tucson, AZ, 2-day

March 25-26

Law Firm Forum

Barnes & Thornberg, Chicago, IL, 2-day

April 9-11

National Agricultural Credit Conference

DoubleTree, Charleston, SC, 2-day

April 10 & 11

National Water Products Credit Group

Sheraton Downtown, Oklahoma City, OK, 2-day

April 23

National Professional Apparel

DoubleTree Orange County Airport, Santa Ana, CA

April 25-26

Meatpackers of America

Lago Mar Resort & Club, Fort Lauderdale, FL, 2-day

April 16-19

National Home, Nursing & Food Groups

Omni Resort, Hilton Head, SC, 2-day

April 18 -19

National Tool & Accessories Manufacturers Credit Group

Embassy Suites, Rosemont, IL, 2-day

April 18 - 19

National Steel Mill Credit Group

DoubleTree, Charleston, SC, 2-day

NACM Connect - New York Local Industry Credit Group Meetings DATE

GROUP

MEETING LOCATION

March 8

Buffalo Building & Construction Credit Group

Eagle House, Buffalo, NY

March 12

Western New York Food & Beverage Supply Credit Group

Ilio DePaolo's Restaurant, Blasdell, NY

March 14

Rochester Plumbing & HVAC Credit Group

Humphrey House, Rochester, NY

March 18

Erie Building Credit Group

Ruby Tiuesday's, Erie, PA

March 19

Central New York Building Credit Group

Coleman's, Syracuse, NY

March 21

Rochester Building Credit Group

Cerame's, Rochester, NY

April 9

Western New York Food & Beverage Supply Credit Group

Ilio DiPaolo's, Buffalo, NY

April 11

Rochester Plumbing & HVAC Credit Group

Humphrey House, Rochester, NY

April 12

Buffalo Building & Construction Credit Group

Eagle House, Buffalo, NY

April 15

Erie Building Credit Group

REPORTS ONLY

April 15

Albany Building Credit Group

Scarborough's, Albany, NY

April 16

Central New York Building Credit Group

Coleman's, Syracuse,NY

April 18

Rochester Building Credit Group

Cerame's, Rochester, NY

April 19

International Benchmarking

Sport O Kings, Batavia, NY

April 23

Buffalo Plumbing & Electric Credit Group

Eagle House, Buffalo, NY

THE INTERCONNECTION

MARCH/APRIL 2019 PAGE 25

Event Calendar

DATE

EVENT

LOCATION

TIME

PRESENTER / INSTRUCTOR(S)

March 6

NACM Connect Missouri - St. Louis Roundtable Discussion

Chris’ Pancake & Dining St. Louis, MO

8 a.m. – 9:30 a.m.

Rochelle Wilson, CGA

March 6

NACM Connect Illinois - Rolling Meadows Credit 102, Available Through Videoconferencing

NACM Connect Rolling Meadows, IL

9 a.m. – 4 p.m

Rich Bellis, CCE

March 6

NACM Connect Ohio - Independence Credit 101

Valtris Specialty Chemicals, Inc. Independence, OH

9 a.m. – 4 p.m

Matthew Meyer, CCE

March 7

NACM Connect Ohio - Cincinnati Credit 101

Cincinnati Container Co., Inc. Cincinnati, OH

9 a.m. – 4 p.m

Cliff Chamberlain, CPA

March 12

NACM Connect Ohio - Columbus Advanced Collections and Negotiation Skills

Star Leasing Columbus, OH

8:30 a.m. – 4 p.m

Barry J. Elms

March 13

NACM Connect Illinois - Rolling Meadows Emerging Leader Series - Why Credit - Building Your Career

NACM Connect Rolling Meadows, IL

8 a.m – 10 a.m

Patrick Nelson Brendon Misik, CCE, CICP

March 13

NACM Connect Ohio - Beachwood The Complete Credit Professional Seminar

OMNOVA Solutions, Inc. Beachwood, OH

8:30 a.m. – 4 p.m.

Barry J. Elms

March 13

NACM Connect Indiana - Fort Wayne Roundtable Discussion

Don Halls Gas House Restaurant Fort Wayne, IN

11:30 a.m. – 1:30 p.m.

Donna Foy, CCE

March 18

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

NACM Connect Rolling Meadows, IL

8 a.m. – 4 p.m

Linda Hass

March 18

NACM Connect Illinois - Rolling Meadows Business Credit Principles (10 weeks) Available Through Videoconferencing

NACM Connect Rolling Meadows, IL

5:30 p.m. – 8:30 p.m

Jason Bogardt, CCE

March 19

NACM Connect Michigan - Dearborn Creating The Perfect Credit Policy Seminar

Carhartt, Inc. Dearborn, MI

8 a.m. – 12 p.m.

Thomas Fawkes, Esq. Brian Jackiw, Esq Jeff Perlstein

March 19

NACM Connect Illinois - Rolling Meadows Financial Statement Analysis Seminar

NACM Connect Rolling Meadows, IL

8:00 a.m. – 12 p.m.

Larry Grogan, CCE

March 20

NACM Connect Wisconsin - Sheboygan Best Practice Discussion Group

Pier 17 Restaurant Sheboygan, WI

12 Noon - 2:15 p.m.

Melissa Braesch

March 20

NACM Connect Michigan - Zeeland Business Credit Principles

Herman Miller, Inc. Zeeland, MI

6 p.m. – 9 p.m.

Curt Johnson, CCE

March 21

NACM Connect Indiana - Elkhart Credit 101

Mid City Supply Co. Inc. Elkhart, IN

9 a.m. – 4 p.m

Stu Boswell, CBF

March 21

NACM Connect Illinois - Rolling Meadows Financial Statement Analysis I (10 weeks) Available Through Videoconferencing

NACM Connect Rolling Meadows, IL

5:30 p.m. – 8:30 p.m

Larry Grogan, CCE

March 26

NACM Connect Michigan - Grand Rapids Roundtable Discussion

Brann’s Steakhouse & Grille Grand Rapids, MI

11:30 a.m. – 1:30 p.m.

Doug Dietlein

March 27

NACM Connect Illinois - Rolling Meadows Business Law (10 weeks) Available Through Videoconferencing

NACM Connect Rolling Meadows, IL

5:30 p.m. – 8:30 p.m

John Jaeger, CCE, ICCE

March 27

NACM Connect Illinois - Rolling Meadows Recession on the Horizon? What It Means To The Credit and Finance Team Breakfast Meeting

NACM Connect Rolling Meadows, IL

8 a.m. – 10 a.m.

Scott Blakeley, Esq.

THE INTERCONNECTION

MARCH/APRIL 2019

PAGE 26

Event Calendar

PRESENTER / INSTRUCTOR(S)

DATE

EVENT

LOCATION

TIME

March 27

NACM Connect Wisconsin - Lake Geneva Roundtable Discussion

Red Geranium Restaurant Lake Geneva, WI

12 p.m.

Don Bast Christina Edson

March 28

NACM Connect Ohio - West Chester Rolling Out a Credit Card Surcharge Program Seminar

Holiday Inn/Centre Park Event Center West Chester, OH

8 a.m. – 12:30 p.m.

Scott Blakeley, Esq.

April 9

NACM Connect Ohio - Cincinnati Credit 101

Cincinnati Container Co., Inc. Cincinnati, OH

9 a.m. – 4 p.m

Cliff Chamberlain, CPA

April 9

NACM Connect Ohio - Dayton- Credit 102

NACM Connect , Dayton, OH

9 a.m. – 4 p.m.

Tom Shimko, CCE

April 10

NACM Connect Illinois - Rolling Meadows Credit 103 Available Through Videoconferencing

NACM Connect Rolling Meadows, IL

9 a.m. – 4 p.m

Rich Bellis, CCE

April 10 & 11

NACM Connect New York - Rochester Annual Meeting

Marriott Rochester Airport Rochester, NY

9 a.m. – 5 p.m.

Varies

April 11

NACM Connect Ohio - Independence Credit 102

Valtris Specialty Chemicals, Inc. 9 a.m. – 4 p.m Independence, OH

Matthew Meyer, CCE

April 17

NACM Connect Ohio - Toledo Basic Financial Accounting

Toledo/Sylvania Township Branch Public Library Toledo, OH

3:30 p.m. – 6:30 p.m.

David Condon, CCE

April 18

NACM Connect Illinois - Rolling Meadows Annual Meeting

Meridian Event & Conference Center Rolling Meadows, IL

9 a.m. – 5 p.m.

Varies

April 18

NACM Connect Indiana - Elkhart Credit 102

Mid City Supply Co. Inc., Elkhart, IN

9 a.m. – 4 p.m

Stu Boswell, CBF

April 23

NACM Connect Ohio - Cincinnati Roundtable Discussion

Sun Chemical Corporation Cincinnati, OH

11:30 a.m. – 1:30 p.m.

Richard O. Hamilton, Jr.

April 25

NACM Connect Missouri - St. Louis Annual Meeting

Orlando’s Event & Conference Center Maryland Heights, MO

9 a.m. – 5 p.m.

Varies

THE INTERCONNECTION

MARCH/APRIL 2019 PAGE 27

News

Welcome New Members Applegate Insulation Elizabeth Lovell

Lockwood Flooring Julie Dougherty

Sanderson Pipe John Molnar

AS American Inc. David Harvanek

Lyons Electrical Supply Co Jim Hassler

Seko Worldwide Peter Iacobellis

AtriCure, INC Kathryn Kluener

Meyer Natural Foods Daniel Nealon

Sims Metal Management Mike Kranz

Boyle Mechanical Solutions Cindy Boyle

Nucor Steel Memphis, Inc. Mark Sykes

CBS Television Stations CBS 62 & CW50 Detroit Catherine Perhogan

Cope Plastics, Inc. Erica Reed

Praxair Karen Duve Tina Hoffman Amanda Theobald Dan Soemann Michael Mazzarella Natalia Bogacka Jacob Woodward Mary Quinn

Southfield Corporation dba Rose Brick Fort Wayne Marcy Carey

Justin Alexander Deanna Jonas

RK Boyd Inc Gary Taylor

La-Z-Boy Inc. Kay Gilbert

Saint-Gobain Performance Plastics Janiene Glasko

Charlotte Pipe & Foundry Co. Charles Massey

Stiles Machinery Michelle Lane Superior Plus Energy Services Inc. Jason Dexter Target-Specialty Products Michele Donnelly The Garland Company Inc. Brian McDonald Credit Manager

2019 ILLINOIS Classes now Available via Live Videoconference! Register for the

Credit 101, 102, 103 Series Upcoming NACM Connect 2019 Class Dates Credit 101

Credit 102

Credit 103

• June 5

• March 6

• April 10

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.

THE INTERCONNECTION

MARCH/APRIL 2019

PAGE 28

Education

Credit 101, Credit 102, & Credit 103 Registration Information Class Time 9 a.m. – 4 p.m. (Continental breakfast at 8:30 a.m., lunch not included)

$199 per class Members

$398 per class Non-Members

2019 INDIANA | MICHIGAN | OHIO INDIANA Elkhart

MICHIGAN Grand Rapids

CREDIT 101

CREDIT 102

CREDIT 103

Mid City Supply Co. Inc. 940 Industrial Pkwy. Elkhart, IN 46516

March 21

April 18

May 16

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

August 28

September 25

October 23

April 9

May 7

June 4

March 6

April 10

May 8

April 2 & April 4

May 14 & May 16

June 4 & June 6

NACM Connect Office 41 White Allen Ave. Dayton, OH 45405

OHIO Dayton

Valtris Specialty Chemicals, Inc. 7500 East Pleasant Valley Rd. Independence, OH 44131

OHIO Independence

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

OHIO Toledo

Classes are from 3:30 - 6:30 p.m. Must attend both days.

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.

MARCH/APRIL 2019 PAGE 29

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

2019 Course Schedule

ALL COURSES are available through live videoconferencing. CBA Courses SPRING

Course Description

FALL

Thursdays

Basic Financial Accounting

June 13 - August 15

(10 weeks)

Mondays

Business Credit Principles

Mondays

August 19 - October 28*

March 18 - May 20

(10 weks)

Financial Statement Analysis I (10 weeks)

SUMMER

Thursdays

August 22 - October 31*

March 21 - May 30*

CBF Courses Course Description

Business Law (12 weeks)

SPRING

SUMMER

FALL

Wednesdays

March 27 - June 12

Wednesdays

Credit Law

August 28 - November 6*

(10 weeks)

Evening Class Times: 5:30 – 8:30 p.m.

* No Class on April 18 (Chicago Annual Meeting), September 2 (Labor Day), October 16 and 17 (Chicago Conference).

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***

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 2019

PAGE 30

Credit Career Corner CANDIDATES OF THE MONTH BROUGHT TO YOU BY MIDWEST STAFFING

For more Information For more information on these candidates or any of our credit and collection professionals please call Dorann Guenard at 847-483-6434. If you do not wish to receive emails from NACM/Chicago-Midwest please let us know. NACM/Chicago-Midwest 3005 Tollview Drive, Rolling Meadows, IL 60008

RUSS CREDIT MANAGER • Excellent time management • Trains and manages collection staff • Performs trend and variance analysis • Streamlined process for early ID of credit system monitoring issues • Wrote standard operating procedures for credit personnel

• Associate Degree Finance • Proficient in Oracle, Excel and Word • Available for direct hire positions • Seeking opportunities in the Plainfield or Bolingbrook, IL. areas.

CAROL CREDIT ANALYST / COLLECTIONS SPECIALIST • CCE and FCIB Certified • Domestic and International credit experience. • Reduced delinquency from 6.7% to 1% in 8 months • Performed extensive financial risk analysis

• Technical skills include SAP and Oracle • Available for temp-to-hire and direct hire positions • Willing to commute 20 miles from the Wentzville, MO. area

CHRIS CREDIT / FINANCIAL ANALYST • Maintains corporate accounting policies consistent with GAAP • Financial variance analysis and root cause countermeasures • Qualification for credit and set terms for International portfolio • Reduced receivables from 35% to 16 within 5 months

• Use Excel reports and pivot tables to manage files with over 16,000line items • Available for Direct Hire • Willing to commute 15 miles from the Carol Stream, IL area

To view all of the available opportunities visit our website at www.nacmmidweststaffing.org Midwest Business Staffing is a subsidiary of the National Association of Credit Management NACM Midwest affiliate. Midwest Business Staffing is dedicated and committed to providing our members and clients real solutions for their need to staff with qualified financial professionals. We are the only firm in Chicago that specializes in the recruitment of business-to-business commercial credit, collections, accounts receivable and deductions professionals. THE INTERCONNECTION

MARCH/APRIL 2019 PAGE 31

Caine & Weiner Giveaway

Caine & Weiner 2019 Quarterly Giveaways NACM CONNECT

MARCH

Place a collections claim with Caine & Weiner anytime during the month of March and become eligible to win a $150 The Home Depot gift card.

Each claim you place will be eligible for the drawings. Enter as often as you like! For information on placing claims, please contact Warren Northern at 847.407.2330 or Ken Oâ&#x20AC;&#x2122;Rear at 972.248.8931. You may also place a claim online at www.caine-weiner.com.

THE INTERCONNECTION

MARCH/APRIL 2019

PAGE 32

Illinois

Emerging Leader Series

2019

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! 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 Lillian Novak, lillian.novak@nacmconnect. org or by phone at 847.483.6478.

NACM Connect

$25

(One coupon per person, per meeting is accepted)

Wednesday March 13 | 8:00 a.m – 10:00 a.m

Why Credit - Building Your Career

Tuesday June 4 | 8:00 a.m – 10:00 a.m

How to be a Successful Millennial in Today’s Business World

Wednesday September 18 | 8:00 a.m – 10:00 a.m Best Practices in Credit

Each roundtable will be co-moderated by

Patrick Nelson, ACCO, Vice Chairman of the Board, NACM Connect Brendon Misik, CCE, CICP, Nutrien, Board Member NACM Connect

Join us for education, networking and breakfast! │

3005 Tollview Drive

│

Rolling Meadows, IL 60008

If you have never attended an Emerging Leader event in the past, you are welcome to attend your first roundtable for free.

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 2019 PAGE 33

Illinois

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

Linda Hass, SAP Consultant

Monday, March 18, 2019 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, March 14, 2019. For more information, please contact Themis Vlahos, CCE at 800-935-6226, ext. 6428.

THE INTERCONNECTION

MARCH/APRIL 2019

PAGE 34

Illinois A dynamic half day seminar for the credit & A/R professionals

FIN AN CIAL S TATEMEN T AN ALYSI S Larry Grogan, CCE S E M I N A R Featuring:

This interactive seminar is designed for the credit & A/R professionals who want to move from making credit decisions on private companies based solely on credit reports and trade references to incorporating Customer financial statements into the mix. It will also be of interest to those who want to begin using financial statements to deliver 6 value adding ‘products’ to their credit tool box including:

4. Security decisions: how to use right-sized Credit Limits in

1. Risk Ratings based on financial data: how to use ratio

6. High Risk Customer Watch List: how to use risk ratings to

2. Right-sized Credit Limits: how to find, calculate and use

This seminar builds on an article by the speaker that appeared in the 2018 November/December InterConnection entitled “Financial Statements and the Valuable Products They Can Deliver”; read online @ https://bit.ly/FSASeminarIL (page 24). This seminar will also cover credit policy as it pertains to financial statements and how to raise your financial statement request ‘batting average’.

categories (Liquidity, Leverage etc.) to assign an overall Low, Medium or High risk rating.

determining when some type of security is needed.

5. Rational Expanded Terms of Sale Decision Making:

how to use Customer requests for expanded terms as leverage in obtaining financial data. Also, logical methods for reviewing these requests.

your Customer’s Tangible Net Worth to ensure you are not overextending them.

3. Staggered Credit Limit Expiration Dates: how to use risk ratings to save time by identifying which accounts need to be reviewed sooner vs. later. The need for obtaining interim financial statements on high risk accounts will also be covered.

monitor high risk accounts.

NACM Connect │ 3005 Tollview Drive │ Rolling Meadows, IL 60008

Tuesday March 19

8:00 a.m. – 12 p.m. (Continental Breakfast 8:00–8:30) Registration Deadline: March 5

$149 – Members (One coupon per person)

$298 – Non-members

Attendance at this seminar is worth .35 Continuing Education Units/CCE Recertification points.

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

MARCH/APRIL 2019 PAGE 35

Illinois The American economy has been healthy, expanding at a 3.5% annual pace during Q3 with unemployment at 3.7%, the lowest in half a century. But emerging signs of weakness in major sectors, including auto manufacturing, agriculture, retail and declines in the stock market, are prompting some forecasters to warn that economic growth may be ending. In recent weeks, retail stocks have taken a hit over concerns of rising costs, a sign the trade war is taking a toll, as is the continued shakeout in the retail sector. Higher interest rates, and faltering corporate confidence, could set the stage for a recession. Discussion topics covered will be: • Identifying, Validating, and Responding to Customer Credit Risk Flags

RECESSION ON THE HORIZON?

• Credit Enhancements and Other Risk Mitigation Strategies • Chapter 11 Checklist for the Credit Team • Tariffs and The Economy • Corporate Debt Defaults

WHAT IT MEANS TO THE CREDIT AND FINANCE TEAM NACM Connect

│

3005 Tollview Drive

Wednesday March 27 8:00 a.m. – 10:00 a.m. (8:00 - 8:30 continental breakfast)

Registration Deadline: March 13

$99 Member (one coupon per person)

$198 Non-Member Available through videoconferencing dependent on conducting a successful test with NACM Connect IT.

│

Rolling Meadows, IL 60008

Scott Blakeley, Esq. is a founder of Blakeley LLP, where he advises companies around the United States and Canada regarding creditors’ rights, commercial law, e-commerce and bankruptcy law. He was selected as one of the 50 most influential people in commercial credit by Credit Today. He is contributing editor for NACM’s Credit Manual of Commercial Law, contributing editor for American Bankruptcy Institute’s Manual of Reclamation Laws, and author of A History of Bankruptcy Preference Law, published by ABI. Credit Research Foundation has published his manuals entitled The Credit Professional’s Guide to Bankruptcy, Serving On A Creditors’ Committee and Commencing An Involuntary Bankruptcy Petition. Scott has published dozens of articles and manuals in the area of creditors’ rights, commercial law, e-commerce and bankruptcy in such publications as Business Credit, Managing Credit, Receivables & Collections, Norton’s Bankruptcy Review and the Practicing Law Institute, and speaks frequently to credit industry groups regarding these topics throughout the country. He is a member on the board of editors for the California Bankruptcy Journal, and is co-chair of the sub-committee of unsecured creditors’ Committee of the ABI. Scott holds an B.S. from Pepperdine University, an M.B.A. from Loyola University and a law degree from Southwestern University. He served as law clerk to Bankruptcy Judge John J. Wilson. He is admitted to the Bar of California.

Attendance at this seminar is worth .15 Continuing Education Units/CCE Recertification points.

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

MARCH/APRIL 2019

PAGE 36

Indiana

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

2019 Indiana

March Lunch Roundtable Discussion

WAYS TO SAFELY SELL HIGHER RISK ACCOUNTS Wednesday March 13

Moderator: Donna Foy, CCE - Franklin Electric Co., Inc. Join us to discuss the different means of selling to those higher risk accounts:

11:30 a.m. – 1:30 p.m.

•

Standby letters of credit

Don Halls Gas House Restaurant 305 E. Superior Street Fort Wayne, IN 46802

•

Lien/bond rights

•

PMSI

•

Split terms

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

MARCH/APRIL 2019 PAGE 37

Michigan

A half-day seminar designed for Credit Professionals

A half day seminar designed for Credit Professionals

CREATING THE PERFECT CREDIT POLICY

CREATING THE PERFECT Presented By: Jerry Bailey, NCS

CREDIT POLICY Speakers: Thomas Fawkes, Esq. and Brian Jackiw, Esq. Goldstein & McClintock │ Dearborn , MI 48126 CARHARTT, INC. │ 5750 Mercury Drive Jeff Perlstein, Director of Credit, Berlin Packaging, L.L.C.

Tuesday PERFECT March 19 CREDIT POLICY

8:00 a.m. – 12:00 p.m. Continental Breakfast 8:00–8:30

$139 – Members (One coupon per person)

Risk can be mitigated through the institution of a formal credit policy, and during this presentation our panelists will discuss the benefits Registration Deadline: March 5 of a thoughtful and carefully-drafted policy, both within the company and in dealings with customers. A sound credit policy can increase consistency in dealing with troubled accounts, reduce conflict among sales and credit professionals and enhance protections in the event that a customer becomes insolvent. Best practices and sample credit policies will be shared as well as suggestions on how to sell your company on adopting a formal credit policy.

$278 – Nonmembers

CARHARTT, INC. │ 5750 Mercury Drive │ Dearborn, MI 48126

Tuesday March 19

(Continental Breakfast 8:00–8:30)

$139 – Members (One coupon per person)

Registration Deadline: March 5

$278 – Nonmembers

8:00 a.m. – 12:00 p.m.

($99 if 3 or more from the same company)

Attendance at this seminar is worth .35 Continuing Education Units/CCE Recertification points.

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

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

MARCH/APRIL 2019

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Michigan

NACM Connect Institute of Credit - CBA Certification Course

Business Credit Principles Business Credit Principles is a 10-week course that provides a fundamental understanding of business credit procedures and policy. This class will also give students information about credit investigation and evaluation along with an overview of legal issues affecting the extension of commercial credit.

The following topics will be covered: • • • • • • • • • • • • • • • • • • • •

Credit in the business world Credit in the company Organizing the credit department The legal environment of credit Credit policy and procedures Terms and conditions of sale Negotiable instruments The legal forms of business The uniform commercial code Credit investigations Know your customer Making credit decisions International trade Financing and business insurance Business credit fraud Credit availability decisions Customer visits The credit-sales partnership Out-of-court settlements Bankruptcy code proceedings

NACM Connect Institute of Credit

Certification Course

Instructor

Curt Johnson, CCE

Wednesday Evenings, March 20 – May 22 Registration Deadline: March 6

│

6:00 p.m. – 9:00 p.m. ET

Herman Miller Inc │ 855 E Main Avenue │ Zeeland, MI 49464-0302 $450, member (plus $100 textbook fee)* Two coupons are valid per person.

$900, non-member (plus $200 textbook fee)*

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.

MARCH/APRIL 2019 PAGE 39

Michigan 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

2019 Michigan

March Lunch Roundtable Discussion

The Basics of Financial Statement Analysis

Moderator: Doug Dietlein, Medler Electric Company

Tuesday March 26

11:30 a.m. – 1:30 p.m.

• What are financial statements? • What are the four main ingredients to a financial statement? • Why are they necessary to obtain from your customer? • Should you get a financial statement from or on all of

Brann’s Steakhouse & Grille 4157 Division Ave S. Grand Rapids, MI 49548

your customers? Please join us for an interactive discussion on how your credit department analyzes financial statements.

Email this form to registration@nacmconnect.org. Register online at www.nacmconnect.org You will be invoiced shortly. THE INTERCONNECTION

MARCH/APRIL 2019

PAGE 40

Missouri

2019 Missouri

March Breakfast Roundtable Discussion Breakfast Roundtable Meeting

DISCOVERING BEST PRACTICES WHEN DEALING WITH THE CONSTRUCTION INDUSTRY Moderator: Rochelle Wilson, CGA, NACM Connect

Round 2

Wednesday March 6 8:00 a.m. – 9:30 a.m. Chris’ Pancake & Dining 5980 Southwest Avenue St. Louis, MO 63139 Cost per Meeting $25 members, $50 non-members. One coupon per person is valid. Breakfast included. Attendance at this roundtable discussion is worth .15 Continuing Education Units/CCE Recertification points

Email this form to registration@nacmconnect.org. Register online at www.nacmconnect.org You will be invoiced shortly. THE INTERCONNECTION

MARCH/APRIL 2019 PAGE 41

Ohio

Advanced Collections and Negotiation Skills

Featuring:

Barry J. Elms America’s Business Coach

A dynamic full-day seminar for Credit Professionalsac

h 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:

Tuesday, March 12, 2019

Part I – Morning Session • The 5 keys to gaining agreement in all collection negotiations • Dealing with “power players” • How to negotiate with assertive customers • 6 strategies that ensure successful collections negotiations

Part II – Afternoon Session • Personal profile. Attendees will discover how to maximize their natural negotiating style • The keys to finding creative solutions to complex collection issues, including: The 6 variable trading options that ensure equal value solutions • The 7 keys to negotiating like a pro

This is an interactive seminar that includes extensive case studies.

STAR LEASING

│ 4080 Business Park Drive │ Columbus, OH 43204

Tuesday March 12

8:30 a.m. – 4 p.m. (Continental breakfast and lunch included) Registration Deadline: February 28, 2019

$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.

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

MARCH/APRIL 2019

PAGE 42

Ohio

THE COMPLETE CREDIT PROFESSIONAL

A dynamic full day seminar for the entire credit management team Featuring:

Barry J. Elms

America’s Business Coach

“I will always be grateful for my career in credit management, the 13 years I spent working as a Credit Professional were the foundation for my success as an entrepreneur and business coach. The skills I learned and developed in my credit career were essential to building a successful business.” – Barry J. Elms Barry has given over 2000 presentations worldwide and is considered by many to be America’s business coach in negotiations and credit management skills.

Part I – Morning Session • 3 keys to a confident credit management personality • Building a successful partnership with your sales team • Understanding bankruptcy procedures and spotting the signs of a troubled company

Part II – Afternoon Session • 6 persuasive skills for effective collections • 5 keys to gaining agreement all credit professionals need • 7 keys to negotiating like a pro

OMNOVA Solutions, Inc.

Summit Meeting Room

Wednesday March 13

This exciting interactive seminar will give you all the tools you need to achieve all your goals and maximize your career. Including how to: • Build confidence and self-belief • Develop successful relationships • Effectively analyze corporate performance • Develop strong communication and persuasive skills • Understand how to gain agreement in all credit interactions • Learn how to negotiate like a pro

│ 25435 Harvard Road│ Beachwood, OH 44122

8:30 a.m. – 4 p.m. (Continental breakfast and lunch included) Registration Deadline: February 27

$189 – Members (Two coupons per person)

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

$378 – Non-members

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

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

MARCH/APRIL 2019 PAGE 43

Ohio A half day seminar designed on hot topics and best practices

ROLLING OUT A CREDIT CARD SURCHARGE PROGRAM Thursday

March 28

Holiday Inn/Centre Park Event Center 5800 Muhlhauser Rd West Chester OH 45069

8:00 a.m. – 12:30 p.m.

Continental Breakfast 8:00–8:30 a.m.

Registration Deadline: March 14

$139 – Members (One coupon per person)

$278 – Nonmembers

Card payments continue as the fastest growing payment form in the B2B space. Card issuers continue to increase rewards to cardholders, and are marketing cards for companies to pay their supply chains. Visa and MasterCard have amended their rules to allow suppliers to surcharge the interchange fee. But with a nationwide surcharge rollout, suppliers have to consider 10 states that have enacted no-surcharge laws. In Canada, credit card companies are also getting ready to adopt identical surcharge rules through settlement agreements, pending the approval of the court system. Additionally, the U.S. Supreme Court has upheld American Express's anti-steering policies, prohibiting suppliers from steering customers towards other cards with lower interchange fees. With this session, I will discuss the following: • The pros and cons of accepting cards in light of the rule changes (a negotiation with the sales and finance teams?) and customer convenience and mobile payments; • Right to surcharge the interchange fee; • Notice and disclosure requirements to customers, card companies and processing companies of intention to surcharge; • Cap on the level of surcharge: how much of the interchange fee may be charged to the customer; • Stratifying the surcharge, whether by customer type or dollar amount; • States anti-surcharge legislation: update on the Supreme Court’s evaluation and whether the legislation restricts surcharging in the B2B space; • The mechanics of passing the transaction fee;

• Lowering the interchange fee; • How to navigate anti-steering provisions in light of the Supreme Court decision; • Debit cards and surcharges; • International customers and surcharges; • PCI and state law privacy compliance; and, • Best practice for internal card policy and card agreement with customer, including T&C’s. • Q & A session on submitted questions.

Presented by

Scott Blakeley, Esq. / Blakeley LLP

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.

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

MARCH/APRIL 2019

PAGE 44

Ohio

2019 Ohio

April Lunch Roundtable Discussion

PRACTICAL LIEN PRESENTATION/ OHIO& KENTUCKY Tuesday April 23 11:30 a.m. – 1:30 p.m.

Sun Chemical Corporation 5000 Spring Grove Avenue Cincinnati, OH 45232

Moderator: Richard O. Hamilton, Jr. / Robbins, Kelly, Patterson & Tucker

Join us to discuss Ohio and Kentucky mechanic’s lien processes, deadlines, and appropriate documentation required to secure lien rights for improvements to real estate.

Email this form to registration@nacmconnect.org. You will be invoiced shortly. Register online at www.nacmconnect.org THE INTERCONNECTION

MARCH/APRIL 2019 PAGE 45

Wisconsin

NACM CONNECT

EASTERN WISCONSIN BEST PRACTICES DISCUSSION GROUP LUNCHEON MEETING

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.

Objectives of the Best Practices Discussion Group

Next Meeting Topic: Generations in the Workplace Guest Presenters: Melissa Braesch Talent & Organizational Development Manager Lakeshore Technical College, Cleveland, WI

Date: Wednesday, March 20 12 Noon - 2:15 p.m. Location: Pier 17 Restaurant 539 Riverfront Drive Sheboygan, WI Information or to Register: Please contact Frank Schetski at frank.schetski@nacmconnect.org or 414.232.4565

• 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 2019

PAGE 46

Wisconsin

2019 Wisconsin

March Luncheon Roundtable Discussions

TAXATION ISSUES AND YOUR CREDIT DEPARTMENT

Guest Presenters: Don Bast & Christina Edson, Managing Directors, True Partners Consulting, LLC Chicago, IL

Wednesday March 27 12 Noon

Red Geranium Restaurant (private room) 393 North Edwards Blvd Lake Geneva, WI 53147 (Highway 12 at the Highway 50 Exit)

Topics to be discussed: ► The Wayfair Act. ► State tax audits. ► Issues concerning nexus. ► Tax certificates. ► Your tax-related questions.

NOTE: If your company has a specific person outside of the credit department who handles tax-related issues, please invite them to attend as well!

Pre-registration is required! Registration deadline: 24 hours prior to the roundtable.

$50 members, $100 non-members. One coupon per person is valid. Attendance at this roundtable discussion is worth .2 Continuing Education Units/CCE Recertification points

Email this form to registration@nacmconnect.org. Register online at www.nacmconnect.org You will be invoiced shortly. THE INTERCONNECTION

MARCH/APRIL 2019 PAGE 47

The InterConnection

800.935.NACM

Stay Connected

NACM invites you to retreat into the beauty and serenity of Aurora, Colorado for our 123rd Credit Congress & Exposition, May 19-22, 2019. Immerse yourself in the conference while relaxing in the picturesque and rustic-chic atmosphere of the brand new Gaylord Rockies! Visit creditcongress.nacm,org for registrationand program details.