2020 March/April InterConnection Newsletter by NACM Connect

The InterConnection VOLUME 8

ISSUE 2

MARCH/APRIL 2020

2020-2021 NACM/Chicago-Midwest Board of Directors Candidate Slate

! n I e r A s t l u s e The R

Lillian Novak, CGA

he NACM/Chicago-Midwest Nominating Committee, in a meeting held on February 25, 2020, has recommended the following slate of officers and directors for the April 1, 2020 – March 31, 2021 fiscal year. The new Board of Directors will be installed during the NACM/ChicagoMidwest Annual Meeting taking place on April 16, 2020, 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. 2020-2021 NACM/Chicago-Midwest Board of Directors Chairperson Patrick Nelson ACCO Brands, Inc. Vice Chairperson Mike Hill, CCE MiTek USA, Inc.

Treasurer Kevin Stinner, CCE, CCRA Pinnacle Agriculture Distribution

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

Directors – Terms Ending 2021 Tracey Bland First Citizens Bank

Staci Cima, CCE Huttig Building Products

Diana Hoffmann Rockline Industries, Inc.

Brendon Misik, CCE, CICP Nutrien Dave Zahller, CCE Tubular Steel

John-John McEvilly, CBA, CICP PSAV Adam D. Ross, CCE Feralloy Corporation George Valletti, CFO/COO Ginsey Home Solutions

Directors – Terms Ending 2023 Curtis Litchfield, CCE Land O' Lakes/Purina Mills Continued on page 10>>

Nominees for NACM National Honors & Awards Lillian Novak, CGA

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

CCE Designation of Excellence • Mike Hill, CCE, MiTek USA, Inc. • Brendon Misik, CCE, CICP, Nutrien CBF Designation of Excellence • Carmel Sommer

CBA Designation of Excellence • Devon Glenn, CBA Emerging Leader Award • Devon Glenn, CBA

NACM Connect congratulates these outstanding members. We are proud to include you in our long list of esteemed member-nominees. ■

2020-2021

Board of Directors

In This Issue

CHAIRPERSON Patrick Nelson ACCO Brands, Inc.

2021 Board of Directors Candidate Slate

Event Calendar

VICE CHAIRPERSON Mike Hill, CCE MiTek USA, Inc.

Nominees for NACM National Honors & Awards

Anatomy of a Credit Decision

2020 Institute of Credit Class Schedules

SAP Meeting

2020 NACM Connect Annual Meetings Schedule

Welcome New Members and Reps

2020 Benefits in 2020

2020 NACM Connect Annual Meetings New York

Seeking Talent or Seeking Employment?

Credit 101 Photo

DIRECTORS—TERMS ENDING 2021 Tracey Bland First Citizens Bank Staci Cima, CCE Huttig Building Products Diana Hoffmann, CBA Rockline Industries, Inc. Brendon Misik, CCE, CICP Nutrien Dave Zahller, CCE Tubular Steel

Annual Bowling Networking Event Wisconsin

Caine & Weiner Quarterly Giveaway

2020 NACM Connect Annual Meetings Illinois

Upcoming Webinars

Merritt Search

2020 IOC Class Schedule

Credit 101, 102, & 103

Credit 101, 102, & 103 Illinois

35 36

TREASURER Kevin Stinner, CCE CCRA Pinnacle Agriculture Distribution

2020 NACM Connect Annual Meetings Missouri, Kansas City

2020 NACM Connect Annual Meetings Missouri, St. Louis

Bowling Event Hosted By NACM Connect Missouri

Credit 101, 102, & 103 Indiana Michigan & Ohio

2020 Legal Symposium Photos

DIRECTORS—TERMS ENDING 2022 Joe Lange, CCE, CCRA Brenntag Great Lakes, LLC John-John McEvilly, CBA, CICP PSAV Adam D. Ross, CCE Feralloy Corporation George Valletti, CFO/COO Ginsey Home Solutions

Incoterms: Changes in 2020 and An Overview

Illinois Round Table: Strengthening Your Credit Application

NACM Connect Member Spotlight Mike Hill, CCE

Michigan Roundtable: Collection Strategies and Measurements to Improve Your Performance

Craig's Credit Corner

Michigan: Financial Statement Analysis 1

Credit Reporting Solutions

Michigan Roundtable: Collection Strategies

NACM Connect Industry Credit Groups

18 20

Missouri Roundtable: New Year, New Challenges

NACM Connect Illinois/Wisconsin Industry Credit Group Meetings

DIRECTORS—TERMS ENDING 2023 Curtis Litchfield, CCE Land O' Lakes/Purina Mills Luz Moreno, CCE, CICP Klein Tools Jeff Weber Uline Yazmin Yepez, CBF, CCRA Mitsubishi Electric Automation Inc.

NACM Connect Missouri /Kansas Local Industry Group Meeting

Ohio Half Day Semina: A Credit Professionals Guide To Financial Statements

NACM Connect Nebraska Local Industry Group Meetings

Ohio Roundtable: The Basics of Financial Analysis

NACM Connect Indiana/Michigan/Ohio Local Industry Group Meetings

Ohio Half Day Seminar: Antitrust Implications For You and Your Company

NACM Connect Pennsylvania Local Industry Group Meetings

Wisconsin Roundtable: Strengthening Your Credit Application

NACM Connect National Industry Credit Group Meeting

Wisconsin Roundtable: Taxation Issues and Your Credit Department 2020

NACM Connect New York Local Industry Credit Group Meeting

PRESIDENT Phillip J. Lattanzio, CCE, COO NACM/Chicago-Midwest SECRETARY Kerry Jensen, CPA NACM/Chicago-Midwest COUNCILOR Erica White, CCE Ferguson Enterprises

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

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.

EDITORIAL STAFF EDITOR Linda Herbst Senior Marketing Administrator

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

ASSOCIATE EDITORS Lillian Novak, CGA V.P. of Education and Marketing Margaret Krafft Marketing Administrator

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 2020

PAGE 2

REGISTRATION INFORMATION

Education Digest

Institute of Credit (IOC) PRICING:

$269 members, $538 non-members

(without hotel night)

$399 members, $798 non-members

2020

(With one hotel night at Rochester Airport Marriott)

per person valid). tart the process(Two ofcoupons earning your are professional designation. If you would like more information, please contact theEducational NACM Connect Education Department at INCLUDES: Access to Full Days of Sessions Annual Luncheons 800.935.6226 or emailMeeting Margaret Krafft at margaret.krafft@nacmconnect.org.

NACM CONNECT ANNUAL MEETINGS

Online Meeting Materials Online Registrant Directory Networking Event (Open Bar & Hors d’oeuvres)

NACMCONNECT.ORG

SPRING 2020

Rochester Airport Marriott 1890 W Ridge Road CBA (Credit Business Associate) Course Schedule Rochester, NY 14615

LOCATION:

PLATIN STAR SPONS

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

ALL REGISTRATIONS ARE TAKEN ONLINE AT

Business CreditWWW.NACMCONNECT.ORG Principles Mondays, 16 - Mayto18 Available via Live Videoconference While registering online, you will haveMarch the opportunity choose

Rolling Meadows,

Illinois 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.

Basic Financial Accounting Thursdays, Rolling Meadows, Cancellation Policy: Cancellations must be received in writing, via fax, email or mail no later than two weeks 19 received - Maylater 28* Illinois Available via Videoconference priorLive to the meeting date to qualify for a full refund.March Cancellations than two weeks prior to the meeting date DO NOT qualify for a refund of registration fees. Substitutions are allowed. Sorry, phone cancellations cannot be honored. If you have any questions, please email info@nacmconnect.org. RCIAL COLLEC ME

N TIO

platinum SponSorS

SPO N SO R S

COM

Financial Statement Analysis 1

Wednesdays, April 8 - June 10

Grand Rapids, Michigan

* No class on April 16 (Chicago Annual Meeting) AGEN CY

Certified by CLLA Endorsed by IACC

CBF (Credit Business Fellow) Course Schedule

This course fulfills one of the CBF certification requirements. Business Law Gold ponSorS AvailableSvia Live Videoconference

Wednesdays, March 18 - June 3

Rolling Meadows, IL

Silver SponSorS

Tuition Must be Paid Before the First Class Begins.

Bronze

Online registration SponSorS only through www.NACMConnect.org. Registrations will not be accepted past the registration deadline. All online exams must be taken during regular business hours. Contact Lillian Novak for exceptions. Classes are subject to cancellation based on enrollment. Live classes are available 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.

Evening Class Times: 5:30 - 8:30 p.m. CST Please refer to the class registration form for details on instructors, locations, fees and class times.

DESIGNATION EXAM DATES & DEADLINES Exam Dates

Application and Paperwork Deadlines

Monday, March 9, 2020

Friday, January 17, 2020

Sunday, June 14, 2020 Credit Congress, Las Vegas, NV Monday, July 27, 2020 Monday, November 9, 2020

SAVE-THE-DATE NACM Connect Annual Meetings NEW YORK

April 8 & 9

April 8 & 9 – New York Airport Marr Rochester AprilRochester, 14 - Wisconsin NY April 16 – Illinois April 21 – Missouri April 23 – Missouri May 7 – Indiana May 12 – Ohio May 14 – Pennsylvania May 19 – Nebraska May 21 – Kansas June 9 – Michigan

VE A S

THE DA TE

Friday, April 17, 2020 Friday, May 29, 2020 Friday, September 4, 2020

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MARCH /APRIL 2020 PAGE 3

NACM Connect

2020 NACM CONNECT ANNUAL MEETINGS NACMCONNECT.ORG

SAVE THE DATE! NEW YORK

Rochester

WISCONSIN

Pewaukee

■ April 8 & 9 ■ April 14

INDIANA Indianapolis

■ May 7

OHIO

■ May 12 Cleveland

■ April 16 Rolling Meadows

PENNSYLVANIA

MISSOURI

■ April 21

NEBRASKA

MISSOURI

■ April 23

KANSAS

ILLINOIS

Kansas City St. Louis

Pittsburgh

Omaha

Wichita

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■ May 19

■ May 21

MICHIGAN

Grand Rapids

■ May 14

■ June 9

MARCH /APRIL 2020

PAGE 4

NACM Connect - New York

2020

NACM CONNECT ANNUAL MEETINGS NACMCONNECT.ORG

PLATINUM STAR SPONSOR

NEW YORK April 8 & 9 Rochester Airport Marriott Rochester, NY

WEDNESDAY, APRIL 8TH

9:00 A.M. REGISTRATION 9:30 A.M.

KEYNOTE: SPRING HAS SPRUNG – IS THE ECONOMY GROWING OR NOT Speaker: Chris Kuehl, Armada Intelligence

11:15 A.M.

COLLECTION TECHNIQUES AND THE ART OF NEGOTIATIONS

Speakers: Frank Dispensa, Vice President and Karl Anderson, Director of Client Relations, Caine & Weiner

12:15 P.M. ANNUAL MEETING LUNCHEON 1:15 P.M. CREATING THE PERFECT CREDIT

POLICY

Speakers: Thomas Fawkes and Brian Jackiw, Goldstein & McClintock

2:30 P.M.

SPEED NETWORKING – THE ELEVATOR SPEECH

Speakers: Jeff Pilarchik, CCE, Mirabito Energy Division and Todd Fierstein, Regional Manager, NACM Connect New York

3:30 P.M.-5:00 P.M. RECEPTION (HORS D’OEUVRES AND OPEN BAR)

THURSDAY, APRIL 9TH

9:00 A.M. REGISTRATION 9:30 A.M. CREDIT IMPROV

Panelists: Deb Coder, Credit Manager, NOCO Energy Corporation; Zig Kurpiewski, Director of Credit, Ivoclar Vivadent, Inc.; Anthony Mitchell, CBA, Nutrien Ag Solutions, Inc.

10:45 A.M.

COLLECTIONS TO BANKRUPTCY – BEST CHANCE FOR RECOVERY Speaker: Kirk Burkley, Bernstein, Burkley, P.C.

11:45 A.M. ANNUAL MEETING LUNCHEON 12:30 P.M. KEYNOTE: COMBATTING CYBER

CRIME

Speaker: Special Agent, FBI Buffalo Cyber Task Force

1:30 P.M. ANNUAL MEETING ADJOURNED

ALL REGISTRATIONS ARE TAKEN ONLINE AT

WWW.NACMCONNECT.ORG

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MARCH /APRIL 2020 PAGE 5

NACM Connect - Wisconsin

2020

NACM CONNECT ANNUAL MEETINGS NACMCONNECT.ORG

PLATINUM STAR SPONSOR

WISCONSIN April 14

Holiday Inn Pewaukee Pewaukee, WI 9:00 A.M. 9:15 – 9:30 A.M. 9:30 – 10:30 A.M.

REGISTRATION

OPENING REMARKS Phil Lattanzio, President, NACM Connect DEVELOPING YOUR CAREER

Panelists: Kurt Albright, Uline; Cindy Fredericksen, Regal-Beloit Corporation; Brendon Misik, CCE, CICP, Nutrien 10:30 A.M. 10:45 – 11:45 A.M.

BREAK

THE GLOBAL ECONOMY AND THE US WORK FORCE Speaker: Tim O’Driscoll

11:45 A.M. 1:00 – 2:00 P.M.

ANNUAL MEETING LUNCHEON

NEGOTIATING INTERNATIONALLY WITH CONFIDENCE Speaker: Kirk Samson, Samson Atlantic LLC

2:00 P.M. 2:15 – 3:15 P.M.

BREAK

BANKRUPTCY REVIEW

Speaker: Jim Morgan, Howard & Howard 3:15 – 5:00 P.M.

NETWORKING EVENT

ALL REGISTRATIONS ARE TAKEN ONLINE AT

WWW.NACMCONNECT.ORG

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MARCH /APRIL 2020

PAGE 6

NACM Connect - Illinois

2020

NACM CONNECT ANNUAL MEETINGS NACMCONNECT.ORG

PLATINUM STAR SPONSOR

ILLINOIS April 18 Meridian Banquets and Conference Center Rolling Meadows, IL

9:00 A.M. 9:30 – 10:30 A.M.

REGISTRATION

CREDIT CARD SURCHARGING GOES MAINSTREAM IN 2020: WHAT DO I NEED TO KNOW TO GET ON BOARD?

SALES TAX IN 2020

Speaker: Matt MacNeil, Avalara

Speaker: Michael Williams, United Tranz*Actions

10:45 – 11:45 A.M.

A TO Z: TOOLS TO USE FOR INTERNATIONAL CREDIT REVIEW Panelists: Luz Moreno, CCE, CICP, Klein Tools; Curt Rothlisberger, CCE, CICE, Ardagh Metal Beverage USA Inc.; Regina Stricklin, CBF, Robert Bosch Tool Corporation

11:45 A.M. 1:00 – 2:00 P.M.

2:15 P.M.

FROM CREDIT TO COURT

Speakers: Joe Batie, Caine & Weiner; Matt Garcia, Barnett Garcia, PLLC

ANNUAL MEETING LUNCHEON

BANKRUPTCY BASICS

CREDIT IMPROV

Speakers: Tom Fawkes and Brian Jackiw, Partners, Goldstein & McClintock

Speakers: Kurt Albright, Uline; John Jaeger, CCE; Michele Pancotto, CCE, CICP, Radiant Clipper

KEYNOTE: A “BUDDING” INDUSTRY: ISSUES FACING TRADE CREDITORS DOING BUSINESS WITH CANNABIS CUSTOMERS Speakers: Bruce S. Nathan, Esq. and Andrew Behlmann, Partners, Lowenstein Sandler LLP

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

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MARCH /APRIL 2020 PAGE 7

NACM Connect - Missouri

2020

NACM CONNECT ANNUAL MEETINGS NACMCONNECT.ORG

PLATINUM STAR SPONSOR

MISSOURI

April 21

Marriott Overland Park Overland Park, KS 9:00 A.M. 9:15 – 9:30 A.M. 9:30 – 10:30 A.M.

REGISTRATION

OPENING REMARKS Phil Lattanzio, CCE, President, NACM Connect SPRING HAS SPRUNG – CAN THE ECONOMY CONTINUE GROWING Speaker: Keith Prather, Armada Corporate Intelligence

10:30 A.M. 10:45 – 11:45 A.M.

BREAK

BUILDING CUSTOMER RELATIONS Speaker: Aaron LeHew, Esker

11:45 A.M. 1:00 – 2:00 P.M.

ANNUAL MEETING LUNCHEON

CREDIT IMPROV Panel Discussion

2:00 P.M. 2:15 – 3:15 P.M. 3:15 – 5:00 P.M.

BREAK

TBD NETWORKING EVENT

ALL REGISTRATIONS ARE TAKEN ONLINE AT

WWW.NACMCONNECT.ORG

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MARCH /APRIL 2020

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NACM Connect - Missouri

2020

NACM CONNECT ANNUAL MEETINGS NACMCONNECT.ORG

PLATINUM STAR SPONSOR

MISSOURI

April 23

Orlando’s Event & Conference Center Maryland Heights, MO 9:00 A.M. 9:15 – 9:30 A.M. 9:30 – 10:30 A.M.

REGISTRATION

OPENING REMARKS Phil Lattanzio, CCE, President, NACM Connect CREDIT IMPROV Panel Discussion

10:30 A.M. 10:45 – 11:45 A.M.

BREAK

SPEEDNETWORKING – THE ELEVATOR SPEECH

Speakers: Rochelle Wilson and Lillian Novak, NACM Connect 11:45 A.M. 1:00 – 2:00 P.M.

ANNUAL MEETING LUNCHEON

COLLECTION TECHNIQUES AND THE ART OF NEGOTIATIONS Speaker: Karl Anderson, Director of Client Relations, Caine & Weiner

2:00 P.M. 2:15 – 3:15 P.M.

BREAK

CREATING THE PERFECT CREDIT POLICY

Speakers: Thomas Fawkes and Brian Jackiw, Goldstein & McClintock 3:15 – 5:00 P.M.

NETWORKING EVENT

ALL REGISTRATIONS ARE TAKEN ONLINE AT

WWW.NACMCONNECT.ORG

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MARCH /APRIL 2020 PAGE 9

NACM Connect - Missouri

Bowling Event Hosted by NACM Connect Missouri Rochelle Wilson, CGA

n February the NACM Connect Missouri Social committee hosted their annual member networking bowling event for an evening of fun. Members drew numbers to create four teams of four players. Two games were bowled and then the teams were mixed up to give everyone a chance to interact. New this year, the teams followed a 'Bowling Bingo' card created with bingo terms replacing the bingo numbers. When a team member bowled one of the terms, they marked a bingo square. The Bingo prize was a free registration to the Missouri Annual Meeting on April 23, 2020. Congratulations to Steven Ha from Negwer Materials on winning the NACM Connect Missouri Bowling Bingo! “I am always grateful to the members who participate and help make our events a success,” said Rochelle Wilson, CGA, Regional Manager NACM Connect. Contact Rochelle Wilson by email at rochelle.wilson@nacmconnect.org if you would like more details or have questions.■

ABOVE: NACM Connect Missouri members gather their teams for the annual Bowling Event. BELOW RIGHT: Phil Lattanzio, CCE, COO poses with Steven Ha of Negwer Materials, who won the Bowling Bingo prize: a free registration to the NACM Connect Missouri Annual Meeting. Congratulations Steven!

2021 Board of Directors Candidate Slate Continued from page 1

Luz Moreno, CCE, CICP Klein Tools Jeff Weber Uline Yazmin Yepez, CBF, CCRA Mitsubishi Electric Automation Inc.

PRESIDENT Phillip J. Lattanzio, CCE, COO NACM/Chicago-Midwest SECRETARY Kerry Jensen, CPA NACM/Chicago-Midwest COUNCILOR

Erica White, CCE Ferguson Enterprises

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, 2020. 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

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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, COO 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. ■

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PAGE 10

NACM Connect - Illinois

Legal Symposium Hosted by NACM Connect Lillian Novak, CGA

n February 19, 2020, NACM Connect in Rolling Meadows, Illinois hosted an all-day Legal Symposium sponsored by the Bankruptcy Section of the Commercial Law League of America (CLLA). Attendees learned about credit policy and its relationship to commercial law. Topics included contractual arbitration provisions; step-by-step tools for creditors to prepare for commercial litigation; the do's and don'ts for handling accounts that go into bankruptcy; post-judgment collection in Illinois; new tests to establish a fraudulent transfer; contractual pitfalls; and creating the perfect credit policy. The venue offered an opportunity for attendees to directly ask questions to presenters from local and national law firms. The day ended with time for attendees to mingle and network one-to-one with legal experts in bankruptcy and collections. Thank you to all attendees for making this such a great event! â&#x2013;

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MARCH /APRIL 2020 PAGE 11

News

Incoterms: Changes in 2020 and An Overview Christie Citranglo, Editorial Associate NACM

hen dealing with international credit, credit managers have to consider more complex terms, legalities and trade terms that do not apply to domestic trade. In order to keep trade and deliveries more orderly for business-to-business (B2B) companies, the International Chamber of Commerce (ICC) created Incoterms to help with regulating international trade. Incoterms are updated by the ICC every 10 years. Incoterms for 2020 were released during the fall of 2019 and have been effective since Jan. 1, 2020. International creditors need to be aware of the changes to Incoterms for 2020 so they can make more thoughtful and precise credit decisions. FCIB hosted a webinar on the topic led by Chip Thomas, FCIB Instructor from the American Export Training Institute, titled “Incoterms 2020—What Changes Are Being Made and Why You Should

“

products, and Incoterms help with that process. The major difference between 2010 and 2020 is to steer users toward the right Incoterms rules for their sales contracts. The changes emphasize making the right choice, being clear

Incoterms for 2020 have been effective since January 1, 2020. International creditors need to be aware of the changes so they can make more thoughtful and precise credit decisions.

Care” to demystify any misconceptions related to Incoterms. “Even though Incoterms stand alone, they shouldn’t be considered that way,” Thomas said. “We need to consider them along with their impact on other areas on your transaction that you’re working on. … They exist to standardize global trade terms.” When picking an Incoterm for a contract, creditors need to understand the risks involved with using a particular term. Creditors want to get paid for their THE INTERCONNECTION

about the explanation between the shipping contract and payment contract, and include an upgraded explanatory notes section that goes into each term in great detail. Delivery and risk are highlighted more profoundly than in 2010 as well. In the context of Incoterms, standardizing global trade terms relates to the physical shipment of goods. In total, there are 11 Incoterms that reflect B2B practice in contracts for the sale and purchase of goods.

Incoterms do not deal with whether there is a contract of sale; what specific goods were sold; the time, place, method or currency of the payment; the solutions for what happens after a breach of contract of a sale; consequences of delay and other breaches of performance; effects of sanctions; imposition of tariffs; export or import prohibitions; force majeure or hardship; intellectual property rights, or the method or law of dispute resolution in case of a breach; or the transfer of property, title or ownership of the goods sold. Incoterms instead represent sales terms, shipping terms, cost terms, delivery terms and pricing terms. The ICC defines delivery as “a place or port/airport where risks and costs pass from the seller to the buyer.” Much of Incoterms deals with delivery regulation—and exporters and creditors must think about which are the best Incoterms to implement that will help them get paid. “Exporters are strongly advised to choose the correct Incoterm that will sync well with the various contracts that may be involved in their transactions,” Thomas said. “This whole idea of syncing—making sure that everything works together—and you’re contemplating more than just ‘my Incoterm to get what I want.’”■ MARCH /APRIL 2020

PAGE 12

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to organize daily tasks & reduce DSO

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10 REASONS WHY YOU SHOULD USE A CLLA CERTIFIED COLLECTION AGENCY 1. Maximum dollar recovery 2. Prompt remittance of funds 3. Adherence to rigorous Code of Ethics 4. Minimum Surety Bond protection 5. Separate trust accounts

6. Reputable collection practices 7. Agency stability 8. Mandatory continuing education for agency executives 9. Audited by independent third party annually 10. Experienced and specifically trained staff

Why Choose a CLLA Certified Agency?

Since 1975, the Commercial Law League of America (CLLA) has been certifying commercial collection agencies who have earned the right to be recognized as industry experts. CLLA/IACC certification is a voluntary, in-depth examination process that requires agencies seeking certification to meet or exceed standard financial guidelines. Doing business with a CLLA/IACC certified agency will provide you with the turnkey benefits you need to succeed. Look for the CLLA/IACC Certification Seal. CLLA Certified Agencies are members of the Commercial Law League of America â&#x20AC;˘ www.clla.org

To find a CLLA Certified Agency near you visit www.clla.org/certification. THE INTERCONNECTION

MARCH /APRIL 2020

PAGE 14

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For more information, contact: Joe Batie (818) 251-1713 | joe.batie@caine-weiner.com

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MARCH /APRIL 2020 PAGE 15

Member Spotlight

NACM Connect Member Spotlight Mike Hill, CCE

ACM Connect covers all your commercial credit reporting needs. From domestic to international with access to Dun & Bradstreet, Experian, Equifax, Skyminder and the NACM National Trade Credit Report (exclusively for NACM members). Each reporting agency offers unique information to assist in making sound credit decisions, leading to reduced delinquency and fewer bad debts. Mike Hill provides insight into one of his best credit management decisions: choosing NACM Connect Credit Report Solutions. Specifically, Mike appreciates what NACM Connect Credit Report Solutions offers: One Platform with better data, One Contact with better service and One Resource with better results. Thank you Mike for being a supportive member of NACM Connect! ■

CRAIG’S

CREDIT CORNER WHAT IS NEW AND EXCITING IN THE WORLD OF CREDIT INFORMATION TOOLS THAT HELP MITIGATE RISK.

Mike Hill CCE, Director of Credit at MiTek USA, Inc. talks about choosing NACM Connect Credit Report Solutions as one of his best credit management decisions. View Mike's video NACM Connect's YouTube Channel. The above photo of Mike is linked to the video.

NACM Connect Credit Report Solutions ONE PLATFORM, BETTER DATA ONE CONTACT, BETTER SERVICE ONE RESOURCE, BETTER RESULTS Did you know that NACM Connect Credit Solutions is a One-StopShop for all of your credit needs? NACM Connect Credit Solutions Consultants are ready to assist you with your credit report needs by:

Craig Smith, Director of NACM Connect Credit Report Solutions

• Doing the leg work for you to compare credit report options from a variety of credit bureaus. • Assisting your company’s expansion into international markets by discussing international credit report choices so you can make more informed decisions. • Reducing your time spent when comparing pricing from a variety of credit agencies and all consumer bureaus through one contact person. • Providing service to ensure your access to credit reports, explain their differences, and train you on how to read and understand reports. • Reviewing your current processes and requirements and offering right-fit solutions

Contact Craig Smith, Director of Credit Solutions by calling 847-483-6484 or visit www.nacmconnect.org and click on Credit Report Solutions.

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PAGE 16

NACM Connect Credit Reporting Solutions

ACCESS ALL

THE SOLUTIONS IN ONE PLACE Shop and compare all these credit Bureaus with one contact person. Be sure to ask about our FREE trial offers.

We provide a full suite of credit reporting solutions exclusively to NACM Connect members at deep discount pricing. We pass big savings to you through our volume purchasing and National Buying Discount. We assist with setup, training and support for all products and solutions. Let us help you increase efficiency, reduce costs and maximize profitability for your organization.

INTERNATIONAL OPTIONS

U.S. OPTIONS OPTION

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Questions? Contact Craig Smith @ craig.smith@nacmconnect.org or call 847.483.6484 THE INTERCONNECTION

MARCH /APRIL 2020 PAGE 17

NACM Connect Industry Groups

Have We Gotta Group for You! Make better choices, reduce outstanding delinquent receivables and write-offs by joining a group today! New groups are formed every day!

Join Today! NATIONAL

• Agricultural Credit Conference • Architectural Metal & Glass • Auto Glass • Circuit Board Suppliers • Christian Suppliers • Coated Paper & Film Manufacturers • Construction • Consumer Products Manufacturers • Electrical Manufacturers • Firearms & Ammunition • Foodservice Distributors • Garage Door & Operating Devices Manufacturers

• Home Centers & Buildings Materials • Home Healthcare Suppliers • Horticultural Distributors • International Flat Rolled Steel • Leisure Living Manufacturers • Lawn & Garden • Manufactured Housing • Meat Packers • Metal Buildings & Components • Metal Industry Raw Material Suppliers

• Metal Producers • Musical Instruments • Nursing Home Suppliers • Paper Packaging • Plumbing, Pipe & Heating

Manufacturers • Professional Apparel Manufacturers • Steel Mill Industry • Tool & Accessories Manufacturers • Truck, Trailer & Waste Equipment Manufacturers • Underground Utilities • Water Products

Network with other credit executives in your industry by joining a NACM Connect Industry Credit Group. Group members share invaluable factual credit information that may be used to make independent decisions with respect to the extension of credit. Discussions include shared information on common customers, the latest in technology for credit management and other creditrelated topics. Group members have access to expanded tradeline data from over 25 additional NACM affiliates participating in this valuable database enhancement at no cost. Group activities are monitored by NACM trained and certified administrators to ensure compliance with the Federal Antitrust Regulations.

Contact Themis Vlahos, CCE, CGA, Director of Group Services at (800) 935-6226 x6428 or themis.vlahos@nacmconnect.org ILLINOIS | NEBRASKA | WISCONSIN • Advertising Media • Basic Material • Building Suppliers • Electrical Distributors • Floor Covering & Wall Tile • Institutional Credit Association • International Credit Professionals • Masonry • Metal Distributors • Northern IL Heating & Plumbing Wholesalers • Nebraska Builders & Industrial Suppliers • Wisconsin Best Practices MISSOURI

• Agricultural • Caterpillar Dealers • Central Illinois Electrical Distributors • Electrical Distributors • Kansas City Building Materials • Mid Missouri Construction • Midwest Regional Food Service & Supply Purveyors

• Refrigeration & Warm/Cool Air Suppliers

INDIANA | MICHIGAN | OHIO • Automotive Suppliers • Cincinnati Construction Suppliers • Cincinnati/Dayton Wholesale Electric Supply • Cleveland/Akron/Canton Food Suppliers • Cleveland Foreign Credit • Columbus Wholesale Electric Supply • Ft Wayne Building Materials • Grand Rapids Electrical/Industrial Suppliers

THE INTERCONNECTION

• Grand Rapids Lumber & Building Materials

• Indiana Electrical Suppliers • Indiana Wholesale Floor Covering • Indianapolis Building Trade Suppliers

• Indiana Best Practices • Metal Service Center • Michiana Credit Association – Manufactured Housing

• Michigan Electrical Supply • Plumbing & Heating Wholesalers • West Michigan Heating Wholesalers NEW YORK

• Albany Building Supply • Best Practices • Buffalo Building & Construction • Buffalo Plumbing and Electric Supply

• Central New York Building Supply • Central New York Food & Beverage Supply

• Rochester Building Supply • Rochester Plumbing and HVAC • Western New York Food & Beverage Supply

PENNSYLVANIA

• Pittsburgh/Altoona Building Trades • Pittsburgh Construction, Plumbing & Heating

• Pittsburgh Electrical Suppliers • Pittsburgh Food Suppliers • Northeast Regional Metal Distributors

USER AND SPECIALTY GROUPS

• Law Firm Forum • National SAP Credit & A/R Users

MARCH /APRIL 2020

PAGE 18

NACM Connect industry Groups National Coated Paper & Film Manufacturers St. Pete Beach, Florida

Industry Credit

Groups

National Metal Building & Components New Orleans, Louisiana

ABOVE: Themis Vlahos, CCE, Director of Group Services at NACM Connect (left) snaps a selfie with some group members in St. Pete Beach, Florida.

Notes from Themis: We had great meetings in St. Pete Beach and New Orleans. Scott E. Blakeley, partner at Blakeley & Blakeley LLP, discussed bankruptcy, creditors’ rights and commercial law with both groups. Great people, great meetings, great networking... of course, the locations didn't hurt! Lillian Novak CGA, Vice President of Education, Marketing, and Member Services at NACM Connect met with members in South Carolina. Guest speakers Nicole Caley, Director of Accounts Payable with AAR Corporation spoke on “Dirty Little Secrets of Accounts Payable” and Chris Kuehl spoke on the economy.

Member must the referring press gift card, Ex information to n ct ca eri nta e their co the $50 Am er and provid mb * To qualify for join an NACM Me st p mu ou ospect spective Gr to follow up. Pr t ec contact the pro nn Co ive from NACM a representat it Group. Connect Cred

ABOVE: Themis Vlahos, CCE, Director of Group Services at NACM Connect snapped photos of group members meeting and sampling some activities in New Orleans, Louisiana.

National Home Centers & Buildings Materials Charleston, South Carolina

RIGHT: Lillian Novak, CGA, Vice President of Education, Marketing, and Member Services at NACM Connect facilitates group members in Charleston, South Carolina.

THE INTERCONNECTION

MARCH /APRIL 2020 PAGE 19

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

GROUP

MEETING LOCATION

March 10

Electrical Distributors Credit Group

Ditka's, Oakbrook Terrace, IL

March 12

Northern Illinois Heating & Plumbing Wholesalers Credit Group

Parker's, Downers Grove, IL

March 17

Metal Distributors Credit Group

Parker's, Downers Grove, IL

March 18

Institutional Credit Association Credit Group

Ditka's Oakbrook Terrace, IL

March 19

Ad Media Credit Group

Conference Call

March 26

Basic Material Credit Group

Ditka's, Oakbrook Terrace, IL

April 9

Northern Illinois Heating & Plumbing Wholesalers Credit Group

Greek Islands, Lombard, IL

April 14

Electrical Distributors Credit Group

Ditka's, Oakbrook Terrace, IL

April 15

Floor Covering & Wall Tile Credit Group

Conference Call

April 16

Ad Media Credit Group

WCIU-Weigel Broadcasting, Chicago, IL

April 21

Metal Distributors Credit Group

Ditka's, Oakbrook Terrace, IL

April 23

Basic Material Credit Group

Michael Jordan's, Oak Brook, IL

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

GROUP

MEETING LOCATION

March 6

Mid Missouri Construction Credit Group

Bartolino's, St Louis, MO

March 12

Kansas City Building Materials Credit Group

YaYa's

March 17

Midwest Regional Food Credit Group

Conference Call

March 18

Electrical Distributors Credit Group

Bartolino's, St Louis, MO

March 19

Midwest Regional Agricultural Credit Group

Il Bel Lago

March 20

Refrigeration Warm/Cool Air Suppliers Credit Group

Bartolino's, St Louis, MO

April 14

Caterillar Dealer Credit Group

Conference Call

April 14

Gateway Food Suppliers Credit Group

Conference Call

April 15

Electrical Distributors Credit Group

Bartolino's, St Louis, MO

April 17

Refrigeration Warm/Cool Air Suppliers Credit Group

Bartolino's, St Louis, MO

April 22

Kansas City Builders Credit Group

Hereford House

NACM Connect - Nebraska Local Industry Credit Group Meetings DATE

GROUP

MEETING LOCATION

March 10

Omaha Builders Credit Group

Teleconference

April 15

Omaha Builders Credit Group

Teleconference

THE INTERCONNECTION

MARCH /APRIL 2020

PAGE 20

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

GROUP

MEETING LOCATION

March 10

Electric Industrial Supply Credit Group

Pietro's, Grand Rapids, MI

March 10

Fort Wayne Building Materials Credit Group

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

March 11

West Michigan Heating & Plumbing Wholesalers Credit Group

Brann's, Wyoming, MI

March 12

Indiana Wholesale Floor Covering Credit Group

Conference Call

March 12

Columbus Wholesale Electric Supply Credit Group

The Kendall Group, Columbus, OH

March 12

Lumber & Building Materials Credit Group

Pietro's, Grand Rapids, MI

March 12

Michiana Credit Association Credit Group

Luchesse's, Elkhart, IN

March 17

Indiana Electrical Suppliers Credit Group

The Kendall Group, Indianapolis, IN

March 17

Automotive Suppliers Credit Group

Conference Call

March 18

Indianapolis Building Trade Suppliers Credit Group

Blakley Corp., Indianapolis, IN

March 18

Metal Service Center Credit Group

Antonio's, Canton, MI

March 19

Michigan Electric Supply Credit Group

Antonio's, Canton, MI

March 25

Cincinnati Dayton Wholesale Electric Credit Group

Century Inn, Cincinnati, OH

March 25

Plumbing & Heating Wholesalers Credit Group

Blueberry Hill, Indianapolis, IN

March 25

Cincinnati Construction Suppliers Credit Group

Rusty Bucket Restaurant & Tavern, Liberty Township, OH

March 25

Cleveland/Akron/Canton Food Suppliers Credit Group

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

April 8

West Michigan Heating & Plumbing Wholesalers Credit Group

Brann's, Grand Rapids, MI

April 9

Columbus Wholesale Electric Credit Group

The Kendall Group, Columbus, OH

April 10

Michiana Credit Association Credit Group

Luchesse's, Elkhart, IN

April 14

Electric Industrial Supply Credit Group

Main Street Pub, Kalamazoo, MI

April 14

Fort Wayne Building Materials Credit Group

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

April 15

Indianapolis Building Trade Suppliers Credit Group

Blakley Corp., Indianapolis, IN

April 15

Metal Service Center Credit Group

Antonio's, Canton, MI

April 16

Michigan Electric Supply Credit Group

Mojave Cantina, Clawson, MI

April 16

Cincinnati Dayton Wholesale Electric Credit Group

Century Inn, Cincinnati, OH

April 21

Automotive Suppliers Credit Group

Conference Call

April 21

Indiana Electrical Suppliers Credit Group

The Kendall Group, Indianapolis, IN

April 22

Plumbing & Heating Wholesalers Credit Group

Blueberry Hill, Indianapolis, IN

April 22

Cincinnati Construction Suppliers Credit Group

Rusty Bucket Restaurant & Tavern, Liberty Township, OH

April 22

Cleveland/Akron/Canton Food Suppliers Credit Group

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

NACM Connect - Pennsylvania Local Industry Credit Group Meetings DATE

GROUP

MEETING LOCATION

March 11

Building Trades Group

Marzoni's, Altoona, PA

March 17

Construction/Plumbing & Heating Group

Bravo Restaurant, Cranberry Township, PA

March 18

Food Group

Bravo Restaurant, Homestead, PA

March 24

Electrical Suppliers Group

Bravo Restaurant, Homestead, PA

April 8

Building Trades Group

Marzoni's, Altoona, PA

April 15

Food Group

Bravo Restaurant, Homestead, PA

April 21

Construction/Plumbing & Heating Group

Bravo Restaurant, Cranberry Township, PA

April 28

Electrical Suppliers Group

Bravo Restaurant, Homestead, PA

THE INTERCONNECTION

MARCH /APRIL 2020 PAGE 21

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

GROUP

MEETING LOCATION

March 3

National Garage Door & Operating Devices Credit Group

Radisson, Salt Lake City, UT

March 12

National Paper Packaging Credit Group

Hilton Westshore, Tampa, FL

March 12-13

National Electrical Manufacturers Credit Group

Doubletree Resort, Hollywood, FL, 2-day

March 12-13

National Underground Utilities Supply Credit Group

Hilton Garden Inn, Louisville, KY, 2-day

March 18-20

National Manufactured Housing Credit Group

Pacific Edge Hotel, Laguna Beach, CA, 2-day

March 19

National Firearms and Ammunition Credit Group

Hilton Westshore, Tampa, FL

March 19-20

National Metal Producers Credit Group

Hotel Indigo, Savannah, GA, 2-day

April 7

National Professional Apparel

Hilton San Francisco Airport Bayfront, Burlingame, CA

April 7-9

National Agricultural Credit Conference

Hotel Indigo, Nashville, TN, 3-day

April 14-17

National Home, Nursing & Food Groups

Inn at Laguna Beach, Laguna Beach, FL, 4-day

April 15-16

National Water Products Credit Group

Embassy Suites, Birmingham, AL, 2-day

April 20-21

Law Firm Forum

Barnes & Thornburg, Chicago, IL, 2-day

April 21-22

National Lawn & Garden Equipment Credit Group

Lago Mar, Fort Lauderdale, FL, 2-day

April 23-24

Meatpackers of America

Lago Mar, Fort Lauderdale, FL, 2-day

April 23-24

National Tool & Accessories Manufacturers Credit Group

Thompson Hotel, Chicago, IL, 2-day

April 23-24

National Steel Mill Credit Group

Hilton Garden Inn South Park, Charlotte, NC, 2-day

NACM Connect - New York Local Industry Credit Group Meetings DATE

GROUP

March 10

Western New York Food & Beverage Supply Credit Group

Ilio DiPaolo's, Buffalo, NY

March 11

Rochester Plumbing & HVAC Credit Group

CONFERENCE CALL

March 13

Buffalo Building & Construction Credit Group.

Eagle House, Buffalo,NY

March 17

Central New York Building Credit Group

Coleman's , Syracuse, NY

March 19

Rochester Building Credit Group

Cerame's, Rochester,NY

March 24

Buffalo Plumbing & Electric Credit Group

Eagle House, Buffalo,NY

March 27

Best Practices Group

Eagle House, Buffalo,NY

April 8

Rochester Plumbing & HVAC Credit Group

CONFERENCE CALL

April 10

Buffalo Bldg./ Const.

Eagle House, Buffalo, NY

April 14

Western New York Food & Beverage Supply Credit Group

Ilio Di Paolo's, Buffalo,NY

April 16

Rochester Building Credit Group

Cerame's, Rochester,NY

April 20

Albany Building Credit Group

Scarborough's, Albany, NY

April 21

Central New York Building Credit Group

Coleman's, Syracuse, NY

April 28

Buffalo Plumbing & Electric Credit Group

Eagle House, Buffalo, NY

THE INTERCONNECTION

MEETING LOCATION

MARCH /APRIL 2020

PAGE 22

Event Calendar DATE

EVENT

LOCATION

TIME

PRESENTER / INSTRUCTOR(S)

March 3

NACM Connect Michigan - Dearborn Roundtable Discussion

Carhartt, Inc. Dearborn, MI

11 a.m.– 1 p.m.

Anissa Martin

March 3

NACM Connect Wisconsin - Milwaukee Roundtable Discussion

Benny’s Cafe Milwaukee, WI

8 – 10 a.m.

Todd Fierstein, CGA

March 3

NACM Connect Northern Illinois - Vernon Hills Roundtable Discussion

The Claim Company Vernon Hills, IL

12:30 – 2:30 p.m.

Todd Fierstein, CGA

March 4

NACM Connect Wisconsin - Fox Valley Roundtable Discussion

Perkins Restaurant Appleton, WI

8 – 10 a.m.

Todd Fierstein, CGA

March 10

Digital Order-to-Cash: A Roadmap to Automation Part 1: On-boarding the Customer

NACM Connect Webinar:

10 – 11 a.m.

Veena Gundavelli Murray Kain

March 11

NACM Connect Illinois - Rolling Meadows Credit 102

NACM Connect Rolling Meadows, IL Available Through Videoconferencing

9 a.m.– 4 p.m

Rich Bellis, CCE

March 11

NACM Connect Ohio – Independence A Credit Professional's Guide To Financial Statements Seminar

Kichler Lighting Independence, OH

9:00 a.m.– 12:30 p.m.

Doug Codispoti

March 11

NACM Connect Ohio - Cincinnati Roundtable Discussion

Cincinnati Container Co., Inc. Cincinnati, OH

11:30 a.m. – 1:30 p.m.

Cliff Chamberlain, CPA

March 16

NACM Connect Illinois – Rolling Meadows Business Credit Principles (10 weeks)

NACM Connect Rolling Meadows, IL Available Through Videoconferencing

5:30 – 8:30 p.m

Jason Bogardt, CCE

March 18

NACM Connect Ohio - Stow Credit 101

Mickey Thompson Performance Tires Stow, OH

9 a.m. – 4 p.m.

Caroline Perkins, CCE

March 18

NACM Connect Ohio - Cincinnati Credit 101

Cincinnati Container Co., Inc. Cincinnati, OH

9 a.m. – 4 p.m.

Cliff Chamberlain, CPA

March 18

NACM Connect Michigan - Grand Rapids Credit 101

Behler Young Co. Grand Rapids, MI

9 a.m. – 4 p.m.

Curt Johnson, CCE

March 18

NACM Connect Illinois - Rolling Meadows Business Law (12 weeks)

NACM Connect Rolling Meadows, IL Available Through Videoconferencing

5:30 – 8:30 p.m.

John Jaeger, CCE, ICCE

March 19

NACM Connect Illinois - Rolling Meadows Basic Financial Accounting (10 weeks)

NACM Connect Rolling Meadows, IL Available Through Videoconferencing

5:30 – 8:30 p.m.

Larry Grogan, CCE

March 19

NACM Connect Missouri - St. Louis Roundtable Discussion

Chris’ Pancake & Dining St. Louis, MO

8:00 – 9:30 a.m.

Rochelle Wilson, CGA

March 19

NACM Connect Indiana - Elkhart Credit 101

Mid City Supply Co. Inc., Elkhart, IN

9 a.m.– 4 p.m.

Stu Boswell, CBF

April 8 & 9

NACM Connect New York - Rochester Annual Meeting

Marriott Rochester Airport Rochester, NY

9 a.m.– 5 p.m.

Varies

April 8

NACM Connect Ohio - Stow Credit 102

Mickey Thompson Performance Tires Stow, OH

9 a.m. – 4 p.m.

Caroline Perkins, CCE

April 8

NACM Connect Illinois - Rolling Meadows Credit 103

NACM Connect Rolling Meadows, IL Available Through Videoconferencing

9 a.m.– 4 p.m.

Rich Bellis, CCE

April 8

NACM Connect Michigan - Grand Rapids Financial Statement Analysis I (10 weeks)

Mill Steel Co. Grand Rapids, MI

5:30 – 8:30 p.m.

Curt Johnson, CCE

April 14

NACM Connect Wisconsin - Pewaukee Annual Meeting

Holiday Inn Pewaukee Pewaukee, WI

9 a.m.– 4:30 p.m.

Varies

April 14

Digital Order-to-Cash: A Roadmap to Automation: Part 2 Keeping the Customer and Maximizing Cash Flow

NACM Connect Webinar

10 a.m.– 11 a.m.

Veena Gundavelli Murray Kain

April 15

NACM Connect Ohio - Cincinnati Credit 102

Cincinnati Container Co., Inc. Cincinnati, OH

9 a.m. – 4 p.m.

Cliff Chamberlain, CPA

April 15

NACM Connect Michigan - Grand Rapids Credit 102

Behler Young Co. Grand Rapids, MI

9 a.m. – 4 p.m.

Curt Johnson, CCE

April 15

NACM Connect Ohio – Independence Antitrust Implications for You and Your Company Seminar

Kichler Lighting Independence, OH

8:30 a.m. – 12:00 p.m.

Wanda Borges

April 16

NACM Connect Illinois - Rolling Meadows Annual Meeting

Meridian Event & Conference Center Rolling Meadows, IL

9 a.m.– 5 p.m.

Varies

April 16

NACM Connect Indiana - Elkhart Credit 102

Mid City Supply Co. Inc., Elkhart, IN

9 a.m.– 4 p.m.

Stu Boswell, CBF

April 17

NACM Connect Michigan - Dearborn Credit 101

Carhartt, Inc. Dearborn, MI

9 a.m.– 4 p.m.

Anissa Martin

April 21

NACM Connect Missouri - Kansas City Annual Meeting

Marriott on the Plaza Kansas City, MO

9 a.m.– 5 p.m.

Varies

April 22

NACM Connect Michigan - Grand Rapids Roundtable Discussion

Brann’s Steakhouse & Grille Grand Rapids, MI

11:30 a.m.– 1:30 p.m.

Mark Lothschutz

April 23

NACM Connect Wisconsin - Milwaukee Roundtable Discussion

Tuscan Grill Lake Geneva, WI

12 p.m.

Christina Edson; Don Bast Eduardo Castrejon; Bryan Perrone

April 23

NACM Connect Missouri - St. Louis Annual Meeting

Orlando’s Event & Conference Center Maryland Heights, MO

9 a.m. – 5 p.m.

Varies

April 24

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

THE INTERCONNECTION

MARCH /APRIL 2020 PAGE 23

News

Anatomy of a Credit Decision what they were doing to resolve their problems. Some would call this action step investigating the ‘Character’ of the owner, one of the 5 C’s of credit.

Larry Grogan, CCE

ou go to your boss with a recommendation to extend $5m to a new account which you rated as Medium Risk.

m) So, the overall risk was Medium.

She has time on her hands and asks you to explain how you arrived at the credit limit and your risk rating.

n) Sales asked for a $5m credit limit. o) I then looked to a grid we use which shows for a Medium risk account I can assign a credit limit of up to 10% of their Tangible Net Worth.

You begin: a) Requested their financials (3 years’ worth so I could see trends) and footnotes. b) They were reluctant to provide so I offered to sign a confidentiality agreement. c) Received their financials and loaded them into an Excel spreadsheet which calculates ratios and common size statements. d) Their disclosure was good and complete. Audited financials with quality footnotes. e) Since they were a private company, I looked at 4 categories of ratios: liquidity, leverage, activity and profitability (no need to look at market ratios as they are not public). f) The spreadsheet calculates 4-5 ratios in each category. Each gives me additional perspective on how well they are doing. I tend to focus on the 2-3 ratios in each category that seem to have the most meaning to me and from there I give the category an overall risk rating of Low, Medium or High. g) I do the same across all 4 categories of ratios and then see how many I rated Low, Medium or High and assign the ‘overall risk rating’ based on which got the most ‘votes’. h) In the case of this account, there was one low risk category (liquidity – which I put a little extra weight on since it directly impacts how quick they can pay us), 2 medium risk (activity and leverage) and one

high risk (profitability – since their margins (gross, operating and net) are still positive but are trending down). i) I read the footnotes to make sure I included their Operating Leases in my calculation of their overall leverage. Also checked the auditor’s opinion which was unqualified (good!) and read the footnote about their line of credit to make sure they had ample availability on the line and to ensure they were in compliance with all covenants (they were). Did not see any ‘contingent’ liabilities like lawsuits or where they guaranteed the debt of another company or individual. j) I ordered an Experian report to see how they pay other suppliers (no issues - prompt) and to check for suits, liens and judgments (none were material in size so no issues). k) Before seeking your approval, I had a peer review my analysis just to make sure I covered all bases and did not have any blind spots as I reviewed their overall credit worthiness. l) Because they did not include a management letter with the financials, I called the owner to ask about their performance last year and to get some insight as to what they expect in this coming year. Very helpful. He acknowledged some problems in controlling expenses and told me exactly

THE INTERCONNECTION

p) Tangible Net Worth is their Equity less Goodwill less Intangibles (it’s a more conservative number than Net Worth and suggests in a liquidation what they might be worth to creditors). q) This firm’s Tangible Net Worth was $50m so I could approve the $5m (which is 10% of $50m). Otherwise, I might have needed some form of security or shorter terms of sale to lessen the need for a full $5m credit limit. r) Since they are medium risk, I set the next review date for one year from now and unless they slow pay us or I see (or sales or one of our collectors sees) a negative news item on their business or industry, I will probably not need to do much on this account for another year unless business expands and they need a larger credit limit. s) Thank you for asking! ■

Larry Grogan, CCE, is a Credit Team Leader 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.

MARCH /APRIL 2020

PAGE 24

NACM Connect -Illinois

SAP CREDIT AND A/R USERS GROUP MEETING Friday, April 24 8:00 a.m. - 4:00 p.m. Open Forum Discussion

Moderated by

Linda Hass, SAP Consultant NACM Connect . 3005 Tollview Drive . Rolling Meadows . IL 60008

Cost SAP User Group Members Registration Fees

Non-Member Fees

$175, SAP User Group Members, first attendee

$350, Non-SAP group member

$145, Each additional attendee from the same company

$450, Non-NACM member

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

Registration Form Name:

Company:

Address:

City:

Phone:

Email:

What do you consider your level of expertise in SAP?

Member #: State:

Zip: Fax:

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 email your discussion topics to themis.vlahos@nacmconnect.org Fax this registration form to 847-483-6428 no later than FRIDAY, APRIL 17 Please contact Themis Vlahos, CCE, CGA at 800-935-6226, ext. 6428

THE THE INTER INTERCONNECTION CONNECTION

MARCH MARCH/APRIL /APRIL2020 2020 PAGE PAGE 25 25

Member News

elcomeres W emb New Members New M

Welcome New Members & Reps

Abest Group Mike Shebesta

ITT Shared Services NA Melanie Osborne

The Business Backer Becky Watt

AddEaton by Numalliance Greg Gilkey

LaForce Inc. Josh Burton

The Hallstar Kristal Gray

Armada Jessica Huber

Land O'Lakes Inc. Bobbie Jo Arreola

The Hallstar Company Denise Monahan

Arrow Tru-Line, Inc. Linda Petersen

Landscape Forms Cassi Baker

United Tranz* Actions Michael Williams

Atlas Wholesale Supply Inc Mark Lock

Lehigh Anthracite LP Jeff Specht

US Foods Michele Robinson

Bank of America De'Andre Honorable

Marc Wolf Marc Wolf

US Foods, Inc.- Albany Angel Wickstead

Carolina Container Samuel Harrison

McNichols Company Lori Maccarone

Vince Hillary Goldberg

Commercial Law League of America Phil Lattanzio

McNichols Company Jessica Meyer

Wesco Distribution Inc Wanda McPhillips

Constellation Brands, Inc. Adrian Brown

McNichols Company Rolema Morgan

Custom Hoists Inc Marcia Harpster

Newtown Farm Services, Inc. Jeff Fruits

Domino Amjet Inc. Carl Belser

Nidec Motor Corporation Mariana Deano

Ferguson Enterprises Karen Gandy

Nidec Motor Corpration Kristen Minda

Ferguson Enterprises Tracy Pettit

Officeworks Services LLC Bill Wissel

Ferguson Enterprises LLC Catherine Fontaine

Protegis Fire & Safety Jackie Carlson

Ferguson Enterprises LLC Robert Clements

Pyrotek, Inc. Amanda Ifkovits

FloraCraft Corporation Conny Bax

Rotex Global, LLC DeLinda Goodman

Garner Industries Katie Tyler

Rudolph Brothers & Co. Becky Kukay

George V Hamilton Inc Roni Auth

Sargento Foods Mike Allen

Gray America Corp. Sean Darling

Service Express LLC Alice Sorge

ITT Shared Services NA Val Basile

Stepan Company Wayne Molley

THE INTERCONNECTION

NEW REPRESENTATIVES Brendan Gabeloff Applied Robotics Inc. Bill Schmitt Ballantyne-Strong Inc. Lisa Moore Batteries & Bulbs Inc. Brett Johnson Croghan Colonial Bank Linda Kratochvil Cummins-Allison Corporation Cathy Wilburn Gateway Bobcat of Missouri, Inc., dba Bobcat of St. Louis Theresa Morgan Georg Fischer LLC Teh Lien Navaro Inner Workings, Inc. Jessica Davis ITT Shared Services NA Julie Lyles Jon-Don, Inc. Chad Switzer Keidel Supply Co Inc MARCH /APRIL 2020

PAGE 26

Member News

Sarah Bennett Master Finish Company Stacy Becvar Metropolitan Indianapolis Public Broadcasting Lori Hill MFA Inc. Brad Smith Midwest Equipment Jennifer Notebaert Morse Lumber Co. Lisa Dietz Praxair Nadine Hess Praxair Rico Fonseca RNDC of Indiana fka National Wine & Spirit Michelle Cozad Samuel Packaging Systems Group fka Samuel Strapping Systems Lisa Bailey Staffmark Holdings Inc Sarah Bevins Superior Plus Propane Leticia Arnold Terrasource TM Global Tony Beninato TriMark Marlinn Corporation Paula Skaaland Varco Pruden Buildings, Div of BlueScope Buildings N.A., Inc. Mike Groos Vi-Jon

Did You See It? 20 Benefits/20 Giveaways for 2020 returned in February to once again offer a chance to win big! How big? See below… The NACM Connect 20 Benefits in 2020 February Promotion sent on February 20th! 20 Benefits/20 Giveaways Membership Benefit #2 Have you heard about NACM Connect Annual Meetings? If yes, you know the value of the sessions, speakers, networking and opportunity to earn CEU or CCE recertification points. If you haven’t been to an Annual Meeting yet, it is a must-attend event not to be missed…the educational sessions include timely and relevant topics critical to your credit business success. We would LOVE to see you there and to prove it, are giving away a FREE Annual Meeting to one lucky member (approximately $200 value)!* The February winner will be announced in the next 20 Benefits in 2020 email on March 2, 2020. Here’s How It Works: Watch your email each month in 2020 to learn about the benefits of NACM Connect membership. Then simply enter the drawing to win a prize related to what you just learned. It's that easy to WIN/WIN! Good luck!

January Winner Thank you to all members who entered our January 20 Benefits in 2020 kick-off – your response was amazing! We are excited to announce our winner of the $100 worth of coupons is Brad Boyle, Credit Manager for Peer Bearing Company in Waukegan, Illinois. Congratulations Brad on being our first 2020 winner!

Melissa Balderas WBBM-TV Jaci Stone West Corporation

THE INTERCONNECTION

MARCH /APRIL 2020 PAGE 27

Member News

Seeking Talent or Seeking Employment?

hether you are seeking talent or seeking employment, Midwest Business Staffing can help you find the right match! For over 20 years Midwest Business Staffing has been helping companies and job seekers achieve their workforce goals with staffing solutions that meet their unique needs. From flexible, temporary staffing to direct-hire positions, Midwest Business Staffing services offers a broad selection of employment verification and screening processes, as well as focused recruiting in the areas of B2B, commercial credit, collections, accounts receivable and deductions. For more information, contact: Dorann Guenard, Regional Recruiter Phone: 847-483-6434 or email to dorann.guenard@nacmconnect.org www.NACMMidwestStaffing.org â&#x2013;

Midwest Business staffing specializes in matching job seekers and employers in the credit industry. Visit www.NACMMidwestStaffing.org. If you are looking for employment in credit or seeking talented credit employees, visit www.NACMMidwestStaffing.org.

Credit 101, 102, 103 for Those Who Are New to Credit or Just Refreshing

hether you are new to the credit industry or maybe just wanting a refresher course, Credit 101, 102 and 103 can answer your questions. Credit 101, 102 and Credit 103 are interactive classes where students are encouraged to give real world examples of the credit department environment. NACM Connect provides a textbook for each student to take back to the office and use as a reference guide. The intention of these courses is to teach students about credit and prepare them for the workplace. These classes also set the stage for continuing education in future seminars and Institute of Credit classes, in which students prepare to earn their professional designations.

ABOVE: Rich Bellis, CCE (left) chats with students in-class and online during a break in the Illinois Credit 101 class on February 12, 2020.

Students can attend in-class or via videoconferencing (offered through the Illinois class schedule). â&#x2013; THE INTERCONNECTION

JANUARY/FEBRUARY 2020

PAGE 28

Caine & Weiner News

Caine & Weiner 2020 Quarterly Giveaways NACM CONNECT

JANUARY | FEBRUARY | MARCH

Place a collections claim with Caine & Weiner anytime during the months of January, February and March and become eligible to win a $150 Crate&Barrel 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 Jim McGee at 847-407-2348. You may also place a claim online at www.caine-weiner.com.

NACM Connect Webinar Cost (per Webinar) $99 - Member, $198 - Nonmember (One coupon will be accepted)

PROFESSIONAL EDUCATIONAL WEBINARS

Digital Order-to-Cash: A Roadmap to Automation Part One: On-boarding the Customer Join us on: Tuesday, March 10, 2020 10 - 11 a.m. CST

ABOUT THE WEBINAR An efficient Order-to-Cash process requires an integrated approach and a focus on all components of the lifecycle. As a major component of a company’s success, automation of this process is the key. On the front end of this process are two crucial business functions •

Order Management

•

Credit Risk Management.

In this webinar learn how a powerful, integrated software tool is essential to having productive and effective Supply Chain and Inventory Management. Participation points are available for this webinar

ABOUT THE PRESENTERS Veena Gundavelli Venna Gundavelli is the Founder and CEO of Emagia Corporation. She is an award-winning serial technology entrepreneur with extensive experience in the fields of artificial intelligence, data analytics and automation for enterprise financial services.

Murray Kain Topic: Digital Order-to-Cash: Keeping the Customer and Maximizing Cash Flow (Part 2) Presenters: Veena Gundavelli Murray Kain

Topic: Digital Order-to-Cash: Happy Customers, Happy Shareholders (Part 3)

Upcoming Webinars

Presenters: Veena Gundavelli Murray Kain

Date: April 14, 2020

Date: May 19, 2020

Time: 10 -11 a.m. CST

Murray Kain has over 16 years of experience in finance and order-to-cash transformation as well as led the digital solutions deployment to large strategic accounts.

WEBINAR REGISTRATION All registrations for NACM Connect educational events are taken online at 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 2020

PAGE 30

NACM Connect Webinar Cost (per Webinar) $99 - Member, $198 - Nonmember (One coupon will be accepted)

PROFESSIONAL EDUCATIONAL WEBINARS

Digital Order-to-Cash: A Roadmap to Automation Part Two: Keeping the Customer and Maximizing Cash Flow

Join us on: Tuesday, April 14, 2020 10 - 11 a.m. CST

ABOUT THE WEBINAR Technology must play a role at every part of the Order-to-Cash lifecycle. Nowhere is digital more essential than with: • Billing/invoicing • Collection of accounts receivable • Managing customer deductions or short payments Optimal management of these functions requires all members of the team as well as the customer having access to real-time, comprehensive accounts receivable data. In this webinar learn: • How a digital approach to accounts receivable collections man agement and optimizing automation • Artificial intelligence and analytics will exponentially improve cash flow • Drive customer satisfaction • Free teams up for performing those tasks that have a greater impact on risk, the customer and cash Participation points are available for this webinar

ming Upco inar Web

Topic: Digital Order-to-Cash: Happy Customers, Happy Shareholders (Part 3) Presenters: Veena Gundavelli Murray Kain Date: May 19, 2020 Time: 10 -11 a.m. CST

Murray Kain Murray Kain has over 16 years of experience in finance and order-to-cash transformation as well as led the digital solutions deployment to large strategic accounts.

WEBINAR REGISTRATION

All registrations for NACM Connect educational events are taken online at 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 2020 PAGE 31

Merritt Search One of the best tools we use in the Chicagoland market is Merritt Credit Bureau. With their services we can check out a job to see if there are any mechanics liens or foreclosures. Between Merritt and our NACM Distributors Group, we can see almost everything going on in our marketplace. I heartily endorse both organizations. Norman Cowie, CCE, Director of Credit Paramont-EO, Inc.

avoid getting involved in a project that already has lawsuits with other suppliers, tax liens or mechanics liens in the chicagoland market.

To request a “Merritt History” search, complete the form located on the NACM Connect website under the Services tab. Choose Merritt Search from the dropdown menu. Your request will be submitted to Merritt Credit Bureau, Inc. Results will be returned directly to you.

►

Company name (as plaintiff & defendant) search: $40

►

Owner/Member/President search: $40

($36 when requested as an additional search w/company name)

►

Job site address search: $40

►

State of Illinois UCC Search: $40

►

Copies of UCC: $2 per page

►

No information/Search fee applies: $40

For additional information, please contact Paula Slyder at 937.401.2710 or paula.slyder@nacmconnect.org THE INTERCONNECTION

MARCH /APRIL 2020

PAGE 32

Institute of Credit (IOC)

Institute of Credit

2020 Course Schedule

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

All courses are available through live videoconferencing! CBA COURSES Business Credit Principles

SPRING Mondays | March 16 – May 18

Basic Financial Accounting

SPRING Thursdays | March 19 – May 21

(10 weeks)

CBF COURSES Business Law

SPRING Wednesdays | March 18 – June 3

(12 weeks)

COURSES 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.

Evening Class Times: 5:30 – 8:30 p.m. As a remote student, you can take live classes via our videoconferencing platform from the comfort of your home or office.

Questions?

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

Tuition Must be Paid Before the First Class Begins.

All registrations for NACM Connect educational events are taken online at nacmconnect.org Absolutely no registrations will be accepted after one week prior to the class date. No exceptions. All testing must be done during regular business hours unless you are taking class in Rolling Meadows. Contact Lillian Novak for exceptions.

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

Classes are subject to cancellation based on enrollment. Questions? Contact Lillian Novak at lillian.novak@nacmconnect.org or call 800.935.6226 THE INTERCONNECTION

MARCH /APRIL 2020 PAGE 33

Institute of Credit (IOC)

CREDIT 101, CREDIT 102, CREDIT 103 Credit 101, 102 and Credit 103 are interactive and invite the class to give real world examples of the credit department environment. In each class, NACM Connect provides a textbook for each student to take back to the office and use as a reference guide. The intention of these courses is to teach students about credit and prepare them for the workplace. These classes also set the stage for continuing education in future seminars and Institute of Credit classes, in which students prepare to earn their professional designations.

CREDIT 101

CREDIT 102

CREDIT 103

Credit 101 is a basic-level orientation program that introduces newcomers to the multifaceted field of credit management. This session examines the credit function, the procedures and tasks performed in a typical credit department and how those procedures impact an entire organization.

Credit 102 is an intermediate-level program designed for inquisitive credit personnel who wish to exceed the basics of credit management. This professional educational program examines the underlying knowledge required to successfully function and advance in today’s ever-changing credit department.

Credit 103 is designed for mid-level credit professionals who would like to learn where they fit into the corporate structure and give them tools, which are not widely talked about and creating a positive impact on the mission of their credit department. This course is interactive and will include scenarios that will teach students ways to use the tools presented in the class.

CURRICULUM

• The credit department function • Credit investigation • Credit policy • The legal forms of business • Basic bankruptcy • Sales/credit relationship • NACM Connect Education and the Institute of Credit

• Legal issues and out-of-court settlements • Negotiable instruments • Bankruptcy • Financial statements • NACM Education and what it can do for you

THE INTERCONNECTION

• The role of the credit department within an organization • An ethical look at the credit department • Choosing professional vendors • Putting the pieces together, how to use the tools • The importance of education and obtaining your certification

MARCH /APRIL 2020

PAGE 34

Institute of Credit (IOC) Illinois

Members: $230 (per class) Non-Members: $460 (per class) All classes are from 9 a.m. – 4 p.m.

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

Location: NACM Connect | 3005 Tollview Drive Rolling Meadows, IL 60008

CREDIT 101

CREDIT 102

CREDIT 103

February 12 June 10 October 7

March 11 July 8 November 11

April 8 August 12 December 9

As a remote student you are able to take live classes via our videoconferencing platform from the comfort of your home or office. Questions? Contact Margaret Krafft at 847.483.6420 or margaret.krafft@nacmconnect.org All registrations for NACM Connect educational events are taken online at 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.

THE INTERCONNECTION

MARCH /APRIL 2020 PAGE 35

Institute of Credit (IOC) Indiana-Michigan-Ohio

Members: $199 (per class) Non-Members: $398 (per class) All classes are from 9 a.m. – 4 p.m. (Continental breakfast at 8:30 a.m., lunch not included)

INDIANA Elkhart

MICHIGAN Dearborn

CREDIT 101

CREDIT 102

CREDIT 103

March 19

April 16

May 21

April 17

May 15

June 19

Mid City Supply Co. Inc. 940 Industrial Pkwy Elkhart, IN 46516 Carhartt, Inc. 5750 Mercury Drive Dearborn, MI 48126

MICHIGAN Grand Rapids

Behler-Young Co 4900 Clyde Park Avenue SW Grand Rapids, MI 49509

March 18

April 15

May 13

OHIO Cincinnati

Cincinnati Container Co., Inc. 5060 Duff Drive Cincinnati, OH 45246

March 18

April 15

May 20

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

March 18

April 8

May 20

OHIO Independence (Cleveland)

OHIO Toledo

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

May 12 &14

June 2 & 4

June 23 & 25

3:30 p.m. - 6:30 p.m.

(each class)

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 2020

PAGE 36

Illinois

March 2020 Wisconsin & Illinois Strengthening Your Credit Application Topics of discussion: • • •

How to develop a credit application that protects your company and asks the right questions to make improved credut decisions How the credit application actually is a multifunctional document How to get current customers to give you updated information

ROUNDTABLE DISCUSSIONS

Moderator:

Todd Fierstein, CGA

Regional Director, NACM Connect

Milwaukee

Tuesday, March 3 Time:

8 - 10 a.m.

Location:

Benny’s Cafe 5354 South 27th Street Milwaukee, WI

(Between Layton and Grange Aves)

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

Fox Valley, WI

Wednesday, March 4 Time:

8 - 10 a.m.

Location:

Perkins Restaurant 3030 East College Avenue Appleton, WI

(Highway 441 at East College Avenue exit)

Cost per Meeting

$25 Members, $50 Non-members

One coupon per person is valid. Breakfast and Lunch included.

Northern Illinois Tuesday, March 3 Time:

12:30 p.m. - 2:30 p.m.

Location:

The Claim Company 506 Hawthorn Circle Vernon Hills, IL

(In Hawthorn Mall, entrance upper level between Macy’s and Penney’s)

Madison, WI

Wednesday, March 4 Time:

12:30 p.m. - 2:30 p.m.

Location:

Rodeside Grill 6317 Rostad Circle Windsor, WI

(I-39/90/94 at Highway 19 exit) 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

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

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

Contact Frank Schetski at frank.schetski@nacmconnect.org or call 414.232.4565

Email this form to registration@nacmconnect.org. You will be invoiced shortly.

THE INTERCONNECTION

MARCH /APRIL 2020 PAGE 37

Michigan

March 2020 Michigan Collection Strategies and Measurements to Improve Performance

Moderator:

Anissa Martin Carhartt, Inc.

ROUNDTABLE DISCUSSIONS

Tuesday, March 3, 2020 Time: 11:00 a.m. - 1: 00 p.m.

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

Location

Carhartt, Inc. 5750 Mercury Drive Dearborn, MI 48126

Cost per Meeting

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

Come join us!

Collection Techniques and Strategies Know the Prospect/Account and the Potential Dollar Value Be Aware of the Payment History Have an Airtight Credit App with Terms of Agreement, PG and Signatures If It Doesn’t Feel or Smell Right, Don’t Offer Terms If It’s an Existing Customer and they aren’t Paying Within Terms it’s a Great Time to Talk to them About Expectations Have a Defined Collection Policy and Process Talk in Specifics, Not Generalities. Leave Nothing for the Debtor to Assume Handle Excuses Professionally

Collection Measurements DSO, CEI Average Days Delinquent Bad Debt to Sales

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

Questions?

Contact Kelly Hall at kelly.hall@nacmconnect.org or call 317-225-4281

- Chuck Levy, CCE, Credit Manager, Fabick CAT

Email this form to registration@nacmconnect.org. You will be invoiced shortly.

THE INTERCONNECTION

MARCH /APRIL 2020

PAGE 38

Michigan NACM Connect Institute of Credit CBA Certification Course

Financial Statement Analysis I Wednesdays April 8 - June 10 5:30 - 8:30 p.m. Mill Steel Co. 2905 Lucerne Drive SE Grand Rapids, MI 49546 Financial Statement Analysis I is a 10-week introductory course that provides you with a fundamental understanding of how to interpret accounting data presented in financial statements issued by corporations. The following topics will be covered: • Financial Statements: An Overview • The Balance Sheet • The Income Statement • Statement of Cash Flows • A Guide to Earnings & Financial Reporting Quality • The Analysis of Financial Statements

Member $450

Non-Member $900

(plus $150 textbook fee)

(plus $300 textbook fee)

Two Coupons are valid per person

Instructor:

Curt Johnson, CCE / S. Abraham & Sons, Inc.

All registrations for NACM Connect educational events are taken online at nacmconnect.org

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

MARCH /APRIL 2020 PAGE 39

Michigan

April 2020 Michigan Collection Strategies Moderator:

Mark Lothschutz

ROUNDTABLE DISCUSSIONS

Van Eerden Foodservice Inc.

Wednesday, April 22 Time: 11:30 a.m. - 1:30 p.m.

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

Location Brann’s Steakhouse & Grille 4157 Division Ave South Grand Rapids, MI 49548

Cost per Meeting $30 Members, $60 Non-members One coupon per person is valid. Lunch included.

Come join us! Collection Techniques and Strategies • • • • •

Know the Prospect/Account and The Potential Dollar Value Be Aware of the Payment History Have an Airtight Credit App with Terms of Agreement, PG and Signatures If It Doesn’t Feel or Smell Right, Don’t Offer Terms If It’s an Existing Customer and They aren’t Paying Within Terms It’s a Great Time to Talk to Them About Expectations • Have A Defined Collection Policy and Process • Talk in Specifics, Not Generalities. Leave Nothing for the Debtor to Assume • Handle Excuses Professionally

Collection Measurements • DSO, CEI • Average Days Delinquent • Bad Debt to Sales 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

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

Questions?

Contact Kelly Hall at kelly.hall@nacmconnect.org or call 317-225-4281

Email this form to registration@nacmconnect.org. You will be invoiced shortly.

THE INTERCONNECTION

MARCH /APRIL 2020

PAGE 40

Missouri

March 2020 Missouri

New Year New Challenges

What worked in the past? Will we need a new set of tools?

Moderator: Rochelle Wilson, CGA NACM Connect

ROUNDTABLE DISCUSSIONS

Thursday, March 19

Time: 8:00 - 9:30 a.m.

Attendance at this roundtable discussion is worth .15 Continuing Education Units/CCE Recertification Points.

Location

Chrisâ&#x20AC;&#x2122; 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.

Come join us to discuss how you and your company will deal with New Year Challenges. 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

Questions?

Contact Rochelle Wilson at rochelle.wilson@nacmconnect.org or call 314-677-2803

Email this form to registration@nacmconnect.org. You will be invoiced shortly.

THE INTERCONNECTION

MARCH /APRIL 2020 PAGE 41

Ohio

Half-Day Seminar A Credit Professionals Guide to Financial Statements

Registration Deadline: March 2, 2020 Attendance at this seminar is worth .35 Continuing Education Units/CCE Recertification points.

Bring your laptop to this interactive half-day session! We will go through concepts using actual financial statements and spreadsheets. Upon completion, you will have a basic understanding of the following: US Generally Accepted Accounting Principles (GAAP) for reporting financial information. Accounting concepts and why they are important to credit professionals. Audited financial statements and why they matter. Each type of financial statement and how a credit professional uses it.

Doug Codispoti, Prime Woodcraft

Wednesday, March 11 9:00 a.m. - 12:30 p.m.

Continental Breakfast: 8:30 - 9:00 a.m.

Kichler Lighting 7711 E. Pleasant Valley Road Independence, OH 44131-8010

Ratios most useful to support credit decisions. All coming together to make a credit decision – whether to grant and what credit limit. An Excel template that generates basic ratio and other comparisons will be provided and can be modified to individual company calculations / industry preferences. The lecture and hands-on training format will bring the group and instructor together to develop a credit recommendation.

$139 – Members (One coupon per person)

$278 – Nonmembers

All registrations for NACM Connect educational events are taken online at www.nacmconnect.org

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 2020

PAGE 42

Ohio

March 2020 Ohio The Basics of Financial Statement Analysis

Moderators:

Cliff Chamberlain, CPA Cincinnati Container Co., Inc.

ROUNDTABLE DISCUSSIONS

Wednesday, March 11 Come join us! Time: 11:30 a.m. - 1:30 p.m. Attendance at this roundtable discussion is worth .2 Continuing Education Units/CCE Recertification Points.

Location

Cincinnati Container Co Inc 5060 Duff Drive Cincinnati, OH 45246

Cost per Meeting

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

Overview: the 3 key financial statements and footnotes: Income Statement Balance Sheet Statement of Cash Flows Footnotes Requesting Financial Statements Understanding key footnotes Common-sizing Financial Statements and Ratio Analysis Scoring ratio results to arrive at a risk rating Credit limit write-up and recommendation Managing high risk accounts

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

Questions?

Contact Kelly Hall at kelly.hall@nacmconnect.org or call 317-225-4281

Email this form to registration@nacmconnect.org. You will be invoiced shortly.

THE INTERCONNECTION

MARCH /APRIL 2020 PAGE 43

Ohio

Half Day Seminar

ANTITRUST IMPLICATIONS FOR YOU AND YOUR COMPANY Wanda Borges

Tuesday, April 14 9:00 a.m. - 12:00 p.m.

(8:30 - 9:00 a.m. Continental breakfast)

Fechheimer Brothers Co. 4545 Malsbary Road Cincinnati, OH 45242 $139 Members $278 Non-members

(One coupon per person)

Borges and Associates, LLC

Today’s credit executive has to be part mediator, part human resource administrator, part accountant, part sales and part compliance officer. Whether extending credit from your desk or exchanging credit with your colleagues at a credit group meeting, the credit executive must be cognizant of Antitrust Statutes and the effect adherence to–or violation of–can have on you and your company. The Antitrust Statutes haven’t changed in years. Yet, the meaning behind “Sherman Antitrust,” “Robinson-Patman” and “Clayton Act” remains foreign to many credit executives. The concept that credit terms are equal to pricing is unfathomable to some credit grantors. And, the method by which most credit executives obtain and transmit credit information is changing on a daily basis. Your customers are changing. No longer does every customer consist of “brick and mortar.” Customers are demanding longer terms. Yet the Robinson-Patman Act encompasses price discrimination in the sales of physical goods of like grade or quality. This program will cover the following topics: Understanding the Antitrust Statutes and Avoiding Antitrust Pitfalls U.S. Department of Justice views and lawsuits under the Antitrust Statutes Step by Step Guidelines to the “Meeting Competition” Defense Credit Exchanges in a group setting or at your office that will protect your office from antitrust violations

REGISTRATION DEADLINE: MARCH 31

Attendance at this seminar is worth.3 CEU Units/CCE Recertification points

All registrations for NACM Connect educational events are taken online at www.nacmconnect.org

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

Questions? Contact Kelly Hall at kelly.hall@nacmconnect.org or call 317.225.4281 Questions? Contact Kelly Hall at kelly.hall@nacmconnect.org or call 317-225-4281 THE INTERCONNECTION

MARCH /APRIL 2020

PAGE 44

Ohio

Half Day Seminar

ANTITRUST IMPLICATIONS FOR YOU AND YOUR COMPANY Wanda Borges

Wednesday, April 15 9:00 a.m. - 12:00 p.m.

(8:30 - 9:00 a.m. Continental breakfast)

Kichler Lighting 7711 E. Pleasant Valley Road Independence, OH 44131-8010 $139 Members $278 Non-members

(One coupon per person)

Borges and Associates, LLC

REGISTRATION DEADLINE: MARCH 31

Attendance at this seminar is worth.3 CEU Units/CCE Recertification points

All registrations for NACM Connect educational events are taken online at www.nacmconnect.org

Questions? Contact Kelly Hall at kelly.hall@nacmconnect.org or call 317.225.4281 Questions? Contact Kelly Hall at kelly.hall@nacmconnect.org or call 317-225-4281 THE INTERCONNECTION

MARCH /APRIL 2020 PAGE 45

Wisconsin

March 2020 Wisconsin & Illinois Strengthening Your Credit Application Topics of discussion: • • •

ROUNDTABLE DISCUSSIONS

Moderator:

Todd Fierstein, CGA

Regional Director, NACM Connect

Milwaukee

Tuesday, March 3 Time:

8 - 10 a.m.

Location:

Benny’s Cafe 5354 South 27th Street Milwaukee, WI

(Between Layton and Grange Aves)

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

Fox Valley, WI

Wednesday, March 4 Time:

8 - 10 a.m.

Location:

Perkins Restaurant 3030 East College Avenue Appleton, WI

(Highway 441 at East College Avenue exit)

Cost per Meeting

$25 Members, $50 Non-members

One coupon per person is valid. Breakfast and Lunch included.

Northern Illinois Tuesday, March 3 Time:

12:30 p.m. - 2:30 p.m.

Location:

The Claim Company 506 Hawthorn Circle Vernon Hills, IL

(In Hawthorn Mall, entrance upper level between Macy’s and Penney’s)

Madison, WI

Wednesday, March 4 Time:

12:30 p.m. - 2:30 p.m.

Location:

Rodeside Grill 6317 Rostad Circle Windsor, WI

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

Contact Frank Schetski at frank.schetski@nacmconnect.org or call 414.232.4565

Email this form to registration@nacmconnect.org. You will be invoiced shortly.

THE INTERCONNECTION

MARCH /APRIL 2020

PAGE 46

Wisconsin

April 2020 Wisconsin Taxation Issues and Your Credit Department - 2020 Moderators: Christina Edson Don Bast Eduardo Castrejon & Bryan Perrone (True Partners Consulting LLC Chicago, IL)

ROUNDTABLE DISCUSSIONS Thursday, April 23 Come join us! Time: 12 Noon

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

Location

Tuscan Grill 430 Broad Street Lake Geneva, WI

Cost per Meeting

$50 Members, $100 Non-members One coupon per person is valid. Lunch included. Pre-registration is required! Registration deadline: Tuesday, April 21

Topics of Discussion: Wayfair/Economic Nexus Update (including Marketplace Facilitators) Taxing SaaS and Digital Products Managing State Tax Compliance Burdens State Gross Receipts Tax Trends Audits and Other General Tax Questions 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

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!

Questions?

Contact Frank Schetski at frank.schetski@nacmconnect.org or call 414-232-4565

Email this form to registration@nacmconnect.org. You will be invoiced shortly.

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The InterConnection

800.935.NACM

CREDIT CONGRESS AND EXPO 2020 HELD IN GLORIOUS LAS VEGAS June 14 - 17, 2020 CEASARS

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