2021 September/October CreditConnections Newsletter

VOLUME 9

NACMCONNECT.ORG

•

ISSUE 5

•

SEPTEMBER/OCTOBER 2021

COLLECTIONS

NACM CONNECT NEWS Interconnections is Now CreditConnections

Coming Soon with Your Help – An All New NACM Connect Website Lillian Novak, Chief Communications Officer As a member of NACM Connect, we’re certain you’ve visited our website from time to time and may have been frustrated by the navigation, layout of a certain page, ability to find what you need, etc. Well… now you get a chance to let us know how we can make it better.

We are in the midst of a complete overhaul of the website nacmconnect.org, and are hoping to get ideas from our membership on how we can improve it.

If you are interested in giving us your opinion, please send an email to Gabriel Castillo, our continued on page 13 CREDITCONNECTION

Benefits of Using a Certified Collection Agency

Introducing the NEW Interconnection newsletter, CreditConnections!

We have changed the look and condensed the content to allow for quick reference to information and upcoming events. We will continue to publish content on member news and, as always, we continue to encourage submissions. Please contact Lillian Novak at lillian.novak@ nacmconnect.org if you would like to submit content for publication.

KEY DATES SEPTEMBER 8 CREDIT 101 VIA ZOOM

Lillian Novak, Chief Communications Officer

SEPTEMBER 15 & 16 GATEWAY CONFERENCE

Is the collection agency you are turning your claims over to certified? And are you aware that not all certifications are alike?

It’s important to know the steps a certifying body goes through to grant certification to ensure that your agency is protecting your company in every way they can.

Our partner, the Commercial Law League of America, demands that their certified members adhere to relevant regulations in the collection of commercial debt; use generally accepted accounting practices – and adhere to standards to protect and safeguard their clients’ funds.

The program is also endorsed by the International Association of Commercial Collectors (IACC).

SEPTEMBER 21 EMERGING LEADERS VIA ZOOM

Agencies certified by CLLA must meet many rigorous requirements. continued on page 10

OCTOBER 5 CBF REVIEW CLASS VIA ZOOM OCTOBER 6 CREDIT 102 VIA ZOOM OCTOBER 7 CCE REVIEW CLASS VIA ZOOM OCTOBER 12 CBA REVIEW CLASS VIA ZOOM OCTOBER 10-13 NACM CREDIT CONGRESS & DESIGNATION EXAM Coming Soon CHICAGO CONFERENCE Virtual SEPTEMBER / OCTOBER 2021

PAGE 1

SAVE THE DATE! GATEWAY

September 15-16

CREDITCONNECTION

CHICAGO VIRTUAL

SEPTEMBER/OCTOBER 2021

PAGE 2

2021-2022

In This Issue

01 04 06 07 08 13 14 18 20 22

Board of Directors

Coming Soon with Your Help – An All New NACM Connect Website Benefits of Using a Certified Collection Agency Back to the Future GATEWAY Credit Conference Back to the Future CHICAGO Credit Conference Interconnections Community Hub Illinois Construction Stuff and Stuff Will Blockchain Show Its Full Promise Group Meetings and Events Calendar Place a Checkmark Next to Your Group!

NACM Connect Industry Groups Member News Compliance Plays a Crucial, Sometimes Complicated Role in Credit Management

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

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

Value Statement We are committed to the highest ethical standards and recognize that our Association must take a leadership role in our profession.

Through our integrity and dedication we will earn the respect of our members as we know that our success as an Association depends on their trust in us. By creating strong relationships we will attain the loyalty of our members and alliance partners. We continuously seek to build an environment for learning to enhance the knowledge and expertise of our members.

The CreditConnection 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.

CHAIRPERSON Mike Hill, CCE MiTek USA, Inc. VICE CHAIRPERSON Kevin Stinner, CCE, CCRA Pinnacle Agriculture Distribution TREASURER Brendon Misik, CCE, CICP Nutrien DIRECTORS—TERMS ENDING 2022 Joe Lange, CCE, CCRA Brenntag Great Lakes, LLC John-John McEvilly, CBA, CICP Encore Presentation Services 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 Luz Moreno, CCE, CICP Klein Tools Jeff Weber Uline Yazmin Yepez, CBF, CCRA, CICP Mitsubishi Electric Automation Inc. DIRECTORS—TERMS ENDING 2024 Edward Patrick, MBA American Refining Group Deb Rollman, CICP Burnham Holdings, Inc. Dale Semple The Equity Jared Silver M. Holland Company Regina Stricklin, CBF Robert Bosch Tool Corporation PRESIDENT Phillip J. Lattanzio, CCE, COO NACM/Chicago-Midwest SECRETARY Kerry Jensen, CPA Chief Financial Officer COUNCILOR Patrick Nelson, MBA ACCO Brands, Inc. EDITORIAL STAFF EDITOR Linda Herbst Senior Marketing Administrator ASSOCIATE EDITORS Lillian Novak, CGA Chief Communications Officer Margaret Krafft Senior Marketing and Education Specialist

GATEWAY September 15-16

REGIST O

REGISTRATION NOW OPEN CREDITCONNECTION

SEPTEMBER/OCTOBER 2021

PAGE 4

wednesday, september 15

7:30 — 8 A.M. VENEZIA | REGISTRATION AND BREAKFAST

8 — 8:15 A.M. | WELCOME REMARKS — NACM Connect President, Phil Lattanzio, CCE

8:15 — 9:15 A.M. | YOU’RE MISSING A GREAT GAME: LIFE LESSONS ON AND OFF THE COURT Opening Keynote Speaker: Randy Fox 9:15 – 9:45 A.M. VENEZIA

| BREAK

9:45 — 11:00 A.M. MILANO FINANCIAL STATEMENT ANALYSIS Curtis Litchfield, CCE, Senior Credit Manager, Land O’Lakes

9:45 — 11:00 A.M. TRAVIA SKIRTING THE POST OFFICE - CONVERTING YOUR CUSTOMERS TO ELECTRONIC Joe Batie, Chief Commercial Officer, Caine & Weiner; Michael Williams, Vice President Strategic Partnerships, United*Tranzactions

11:00 – 11:30 A.M. VENEZIA | BREAK 11:30 A.M. — 12:30 P.M. MILANO ETIQUETTE FOR ONLINE TOOLS Staci Cima, CCE, Corporate Credit Manager, Huttig Building Products

11:30 A.M. — 12:30 P.M. TRAVIA THE DO’S AND DON’TS OF YOUR CREDIT CAREER Panelists: Elaine Fry, CCE; Mike Hill, CCE, Director of Credit, Mitek USA, Inc.; Lillian Novak, CGA, Vice President of Education NACM Connect

TRATION IS OPEN! 12:30 – 1:130 P.M. VENEZIA | ALL CONFERENCE LUNCHEON

1:30 — 2:45 P.M. MILANO 1:30 — 2:45 P.M. TRAVIA MANAGING THE REMOTE CREDIT DEPARTMENT COMING OUT OF COVID - A Roundtable Discussion Dominic Biegel, Senior Manager, Sales Process Lead Brent Heizelman, Credit Manager; Mid Kansas Cooperative Association; Ken O’Rear, Assistant Vice President-Client Services, Caine & Weiner; Troy Wangen, Managing Director, True Partners Consulting 2:45 – 3:15 P.M. VENEZIA | BREAK

3:15 — 4:30 P.M. MILANO LITIGATION 101 Thomas Fawkes and Brian Jackiw, Tucker Ellis LLP

3:15 — 4:30 P.M. TRAVIA RETHINKING RECEIVABLES: AI-DRIVEN CASH MANAGEMENT Christopher Rios, Vice President, Dun & Bradstreet

4:30 — 5:30 P.M. VENEZIA | RECEPTION AND NETWORKING EVENT — Hosted by the Exhibitors

thursday, september 16 8— 8:30 A.M. REGISTRATION AND BREAKFAST 8:30 — 9:45 A.M. MILANO general session | NACM CONNECT UPDATES – INSIGHT2 REPORTS, INDUSTRY ANALYSIS REPORT AND INTERCONNECTION ONLINE COMMUNITY NACM Connect Staff: Phil Lattanzio, CCE; Lillian Novak, CGA; Rochelle Wilson, CGA; Rich Steinkoenig, CGA 9:45 – 10:15 A.M. VENEZIA | BREAK 10:15 — 11:30 A.M. MILANO CREDIT APPLICATION REVIEW Thomas Fawkes and Brian Jackiw, Tucker Ellis LLP

10:15 — 11:30 A.M. TRAVIA ANATOMY OF A CREDIT DECISION Curtis Litchfield, CCE, Senior Credit Manager, Land O’Lakes, Inc.

11:30 – 1 P.M. VENEZIA | ALL CONFERENCE LUNCHEON 1 — 2 P.M. MILANO USING SECURITY TO EXPAND YOUR CREDIT BOUNDARIES Jerry Bailey, Executive Sales and Education Services Manager, NCS

1 — 2 P.M. TRAVIA THE NEW MULTIGENERATIONAL WORKFORCE – A Roundtable Discussion Facilitators: Dale Semple, Director of Credit, The Equity; Tiffany Sudduth, American Metals Supply; Derrick Swaney, MiTek USA, Inc.

2 – 2:15 P.M. VENEZIA | Break 2:15 — 3:30 P.M. | HONORING OUR REAL HEROES 3:30 — 4:30 P.M. | NETWORKING HOUR (ROOM A) — Open Bar & Silent Auction Wrap-up CREDITCONNECTION

SEPTEMBER / OCTOBER 2021

PAGE 5

NACM Connect Chicago Conference

Chicago is Going Virtual Lillian Novak, Chief Communications Officer Due to the recent rise in Covid 19 cases we have made the difficult decision to once again switch the Chicago conference to a virtual only offering. But there is good news in that!

Nearly all of the sessions planned for the live event will be presented via live Zoom presentation versus the mostly recorded offerings of last year.

The sessions will be spread out over several weeks to not cause too much disruption in your everyday duties.

You will be able to attend more sessions as you will not have to pick between concurrent sessions.

And the price has been reduced to $299.

CREDITCONNECTION

The schedule will be announced in the next few weeks. The St. Louis conference is still scheduled to be a live event as planned. If you have any questions, please email Lillian Novak at lillian.novak@nacmconnect.org. ■

Look for more information at nacmconnect.org or the Interconnection Community Hub.

Get Connected Now!

https://www.nacmconnect.org/interconnection-hub

NACM Connect InterConnection Online Community Hub

SEPTEMBER/OCTOBER 2021

PAGE 6

Championed by

Reply From Wherever You Are

You’ll get updates directly to your inbox and you can reply from wherever you are – through your email or the app.

Log In To Your Community Home Check out new discussions, events and tap into resources.

Connect One-To-One Or In Groups You can find other members easily and network privately in 1:1 or group chats.

Be a thought leader and start new discussions related to your business, project or challenges you’re facing.

CREDITCONNECTION

ACCESS THE NACM CONNECT COMMUNITY FROM ANYWHERE AND AT ANYTIME! The InterConnection Community Hub allows you to share best practices, inspiration, tips, and ideas with other NACM Connect members.

Message Members On Your Preferred Channel When you join an NACM Connect Group Hub Lounge, you can post questions to members of your group, participate in discussions, get advice and network.

And you can communicate through your preferred channel across the web, SMS and email.

To get started, please contact Lillian Novak, CGA Chief Communications Officer lillian.novak@nacmconnect.org.

SEPTEMBER / OCTOBER 2021

PAGE 7

Illinois Construction Stuff and Stuff for anything other than paying the submitter of the waiver, he/she would be responsible for “… all damages sustained ..” by the injured party.

I would prefer the statutes forbid anyone from demanding waivers up front, and better, would codify conditional waivers, but (shrug), that’s a fight for later.

But there’s another devious party out there, and recently I ran into such a deviant. Some companies don’t want to mess around with the hassle of trying to pry a waiver out of their suppliers’ hands, so they figured out a dodge around the system. Well, not a dodge, an outright lie. When they submit their sworn statements, at the bottom where it requires them to list their subs and any monies owed to them, instead they put down these horrible words … … “Taken from fully paid stock.”

Illinois Construction Stuff and Stuff Norm Cowie, CCE

Folklore says you can’t prove a negative, which of course is ridiculous.

If you bounce a check and go to your bank, they can easily show how your checks written exceed your deposits.

And if you’re doing a math problem, it’s easy to prove that 1 -100 = -99.

waiver, or a trust-receipt document that the customer signs acknowledging payment has not yet been made, despite what the waiver itself states.

This gives you the argument that you both knew the payment hadn’t been made.

So, folklore can be wrong.

The problem, of course, is many GC’s demand waivers in advance of payment, and even include this term in their T&C’s. It’s actually helpful, because if you can prove they demanded waivers up front, you have some ammo if you lien the job and their attorney starts waving your waiver in your face.

But sometimes it’s hard to prove that someone didn’t do something they should have. Or even notice it. For example, waivers.

Most suppliers run into waiver issues all the time, particularly when a customer asks for a waiver for something they haven’t paid yet. This is problematic because the waiver itself says that payment has been received, and that you are waiving your lien rights on something you haven’t received payment for yet.

There are work-arounds for this most of the time, such as requiring a postdated check in exchange for the CREDITCONNECTION

The law itself even recognizes that waivers are often provided up front, and Section 21.02 was added to the Statutes in 2006 saying that anyone who requests a waiver by the “… promise of payment …” must hold any monies received in trust of the party that furnished the waiver. It goes on to state that if that party uses the funds

This was a company that has done anywhere from $150k-900k a year with us, and this year at the halfway point were at $250k. Which is fine, but I can’t say that for their payments, because they are chronically past due with a DSO north of 120 days, often with big chunks in 120 days. And worse, everything is very low margin.

Last November, our lien rights were in jeopardy on a job with a balance of $100k and they begged us not to file a lien. I told them to show me copies of the sworn statements, because if we were listed there for our remaining balance, it would actually be somewhat safe to bypass our 90-day notice time, and give us another month where we could go straight to lien.

And they said we weren’t listed.

They said that ‘the girl’ in their office mistakenly listed one of our competitors on the sworn statement instead of us.

We got through this crisis, but now my suspicions were up. Did they get waivers from our competitor on this job? Or were they lying to me? So, we checked our files, and get this. For the three years previous, where we had SEPTEMBER/OCTOBER 2021

PAGE 8

Illinois Construction Stuff and Stuff sales totaling almost $700k, we did exactly zero waivers. Not one.

When I confronted them on this, they hemmed and hawed, and tried to blame the ‘girl in the office’ again, and I told them firmly that I expected them to properly list us on their sworn statements, as required in Section 5 of the lien statutes, which clearly state it is the duty of the owner to require and the duty of the contractor to provide a statement in writing naming all subcontractors and materialmen and the amounts due to them. Do you hear me, their duty, not an option.

“

each had received affidavits claiming the material was taken from paid stock.

Yeah, the specialty lighting made specifically for those projects were just everyday stock material sitting in our customer’s shop. Yep, that was their story.

My customer lied to me. Shocking.

Both GCs contacted our customer, and suddenly they came up with some more money. But now I was the bad guy. Because I had the audacity to be lied to by them, they figured the owner of our company had to know

They promised to abide, but now that my suspicions were on high alert, I paid attention and over the succeeding months they paid us a quarter of a million dollars, and get this, they didn’t ask for a single waiver.

They promised to abide, but now that my suspicions were on high alert, I paid attention and over the succeeding months they paid us a quarter of a million dollars, and get this, they didn’t ask for a single waiver.

So I called them again when they had $50k from two projects in 120 days where our lien rights were running out.

I told them we needed payment or we would start liens. I also demanded to see the sworn statements for both jobs, and they said the GCs didn’t require any waivers. I was blunt, and told them I found this hard to believe.

But they stuck to their story and promised to pay within a few days, and when that didn’t happen, I contacted them and they offered a payment of about a third of the balance.

I told them that was unsatisfactory and contacted the GC’s for both jobs, and learned … gasp … that each had paid our customer months before and that CREDITCONNECTION

asking for waivers up front, but will you notice those quietly not asking at all? ■

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

Norm’s most recent book, MOONED, is now available in hardcover. MOONED is a young adult book adults can read about a dog and cat turned into were humans by their werewolf master. Fun action. Check it out on Amazon.

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

what a mean guy I was, so their owner sent a lengthy lie-ridden email to my boss piteously complaining and telling him how little I knew about how the construction industry works.

The truth is, if they didn’t send fraudulent waivers, they would have had to get waivers from us, and we would undoubtedly have been paid quicker, and without having our lien rights compromised. Instead, they used us as an interest free banking institution, and paid us when it became convenient to them.

The moral of this story is if you have a slow paying account with significant balances, be aware if they don’t approach you for waivers, because this might mean your rights are being compromised.

Get Connected Now!

https://www.nacmconnect.org/interconnection-hub

NACM Connect InterConnection Online Community Hub

It’s sort of like proving a negative and not something you would normally look for. But maybe you should, because you’re gonna notice the customers SEPTEMBER / OCTOBER 2021

PAGE 9

NACM Connect Benefits of Using a Certified Collection Agency Continued from page 1

The agency’s business must be commercial-related and must have been in operation for a minimum of four years. Compliance with all relevant federal and state laws including but not limited to the Bureau of Consumer Financial Protection, Fair Debt Collections Practices Act, Privacy Act of 1984, HIPPA, GrammLeach-Bliley, FCRA and the Telephone Consumer Protection Act is required.

The agencies must authorize CLLA or an independent third-party agent to conduct an in-person on-site visit and interview the key employee. Each year a third-party CPA audit firm examines the financial statements of the certified agency to ensure funds in the trust bank account(s) are equal to or in excess of the trust liability at the end of each quarter for the past year. Agency personnel must meet certain annual continuing education requirements.

These are just some of the criteria to qualify as a CLLA certified agency.

Both of our collection agency partners, Caine & Weiner and NACM Southwest are CLLA certified. ■

Why CHOOSE a CLLA Certified Agency?

Protection of Client Funds www.clla.org/list-of-certified-agencies/

IN-PERSON

VIRTUAL CREDITCONNECTION

VISIT www.nacmconnect.org/insight-2/ SEPTEMBER/OCTOBER 2021

PAGE 10

CASH APPLICATION AUTOMATION TAKE THE EFFORT & ERRORS OUT OF RECONCILIATION Esker’s Cash Application automation solution streamlines the cash application process by auto-matching all types of incoming payments to open invoices and intelligently capturing remittance data to provide 3-way matching and accurate reconciliation. As a result, your business benefits from optimized cash flow, receivables visibility and collections efficiency.

IMPROVE AR ACCURACY CENTRALIZE PAYMENT INFO

via real-time visibility of AR performance & incoming cash

by retrieving remittances & payment files in one place

CREDITCONNECTION

www.esker.com/AR

INCREASE PROCESS EFFICIENCY

by accelerating cash application & exception management

SEPTEMBER / OCTOBER 2021

PAGE 11

CREDITCONNECTION

SEPTEMBER/OCTOBER 2021

PAGE 12

NACM Connect

Will Blockchain Show Its Full Promise?

NACM National, Editorial Getting the most out of blockchain will entail collaboration among interdisciplinary teams and disciplines, said SIMBA Chain’s Anjon Roy during the NACM and FCIB webinar, Blockchain Technologies & Decentralized Finance. “I think we’re only scratching the surface of what’s possible,” Roy said. Presently, about 80% of the conversation around blockchain is dominated by people in the technology field and 20% in other domains such as supply chain management, he added. “For blockchain to show its true promise, we need to reverse that trend to achieve a higher level of impact.” More opportunities will materialize as other fields, including business-to-business credit, work with the technologies supporting blockchain, he explained.

“That’s when the opportunities really become apparent.” Wasson and Roy touted the benefits of blockchain technology, including its promotion CREDITCONNECTION

of transparency. Roy likened it to a Google spreadsheet. Similarly, everyone in the transaction chain has access to it. However, each person can only add to it; they cannot erase content, and there is not a master.

“Everyone owns co-equal copies,” Roy said. The copies “automatically keep in sync by something called consensus algorithms. Blockchain enables multiple separate entities to share a single version of the data and keep that data in sync among themselves, thus removing the need to reconcile, message, propagate, sync or otherwise maintain versions.” Parties to the blockchain transaction decide what is transparent and what is secure.

In addition to the data stored in the transaction, “you can have executable code and intelligence [incorporated] that is also shared,” he added. So, although the transaction is transparent, “you do not necessarily know who is behind the transaction,” Roy explained.

“The network predetermines what information is private. It’s a curious mix of transparency and security.”

Blockchain melds together several different types of complex and abstract technologies. “It takes things from cryptography, encryption and decentralized databases and brings them together in a manner that creates more complexity,” Roy said. Blockchain is secure because “there’s no single point of failure so it gives you a level of security that you wouldn’t otherwise have in a traditional centralized system,” he continued. With traditional decentralized databases as you add more entities that share this database, points of attack increase with each addition. The same, however, is not true for blockchain transactions, Roy said. “An attacker would have to take over 51% of the nodes, and that is a lot harder to do—especially when it’s a large network.”■

Coming Soon with Your Help – An All New NACM Connect Website Continued from page 1

Marketing Manager, with your suggestions. His email address is gabriel.castillo@nacmconnect.org.

Here are some thoughts on items you might want to comment on: 1. What is the one feature you love about our current website design that you would like us to keep?

2. What features would you like us to incorporate that we don’t current offer on our current design?

3. What features need further improvement?

4. Do you have an example of a website design that you love? Send Gabe the link!

5. Any additional suggestions?

All ideas are welcome – none too little or too big. This is your Association and therefore your website. We’d like to deliver what the membership wants. ■ SEPTEMBER / OCTOBER 2021

PAGE 13

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

GROUP

MEETING LOCATION

September 9

Northern Illinois Heating & Plumbing Wholesalers Credit Group

Ditka's, Oakbrook, IL

September 14

Masonry Credit Group

Ditka's, Oakbrook, IL

September 14

Electrical Distributors Credit Group

Zoom

September 15

Institutional Credit Association Credit Group

Ditka's, Oakbrook, IL

September 21

Metal Distributors Credit Group

Ditka's, Oakbrook, IL

September 16

Ad Media Credit Group

Zoom

September 23

Basic Material Credit Group

Zoom

October 12

Electrical Distributors Credit Group

Zoom

October 14

Northern Illinois Heating & Plumbing Wholesalers Credit Group

Greek Islands, Lombard, IL

October 19

Floor Covering & Wall Tile Credit Group

Conference Call

October 19

Metal Distributors Credit Group

TBD

October 21

Ad Media Credit Group

Zoom

October 28

Basic Material Credit Group

Ditka's, Oakbrook, IL

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

GROUP

MEETING LOCATION

September 9

Kansas City Builders Credit Group

Big Biscut, Shawnee, KS

September 10

Mid Missouri Credit Group

Bartolino's, St Louis, MO

September 14

Midwest Agricultural Group

Il Bel Lago, St Louis, MO

September 15

Caterpillar Dealers Credit Group

Conference Call

September 17

Refrigeration Warm/Cool Air Suppliers Credit Group

Bartolino's, St Louis, MO

September 22

Electrical Distributors Credit Group

Bartolino's, St Louis, MO

October 14

Kansas City Builders Credit Group

Tabards, Overland Park, KS

October 20

Electrical Distributors Credit Group

Bartolino's, St Louis, MO

October 22

Refrigeration & Warm/Cool Air Suppliers Credit Group

Bartolino's, St Louis, MO

NACM Connect - Pennsylvania Local Industry Credit Group Meetings DATE

GROUP

MEETING LOCATION

September 8

Building Trades Group

Marzoni's, Altoona, PA

September 15

Food Group

Bravo-Waterfront, Homestead, PA

September 21

Construction/Plumbing & Heating Group

Bravo, Cranberry Township, PA

September 28

Electrical Suppliers Group

Bravo-Waterfront, Homestead, PA

October 13

Building Trades Group

Marzoni's, Altoona, PA

October 19

Construction/Plumbing & Heating Group

Bravo, Cranberry Township, PA

October 20

Food Group

Bravo-Waterfront, Homestead, PA

October 26

Electrical Suppliers Group

Bravo-Waterfront, Homestead, PA

CREDITCONNECTION

SEPTEMBER/OCTOBER 2021

PAGE 14

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

GROUP

MEETING LOCATION

September 8

West Michigan Heating & Plumbing Wholesalers Credit Group

Brann's, Wyoming, MI

September 9

Indiana Wholesale Floor Covering Credit Group

Conference Call

September 9

Lumber & Building Materials Credit Group

Conference Call

September 9

Michiana Credit Association Credit Group

Hilton Garden Inn, Elkhart, IN

September 9

Columbus Wholesale Electric Credit Group

Conference Call

September 14

Electric Industrial Supply Credit Group

Brann's, Wyoming, MI

September 14

Fort Wayne Building Materials Credit Group

Don Halls Gas House Restaurant, Fort Wayne IN

September 15

Metal Service Center Credit Group

Antonio's, Canton MI

September 15

Indianapolis Building Trade Suppliers Credit Group

Blakley Corp. Conference Room, Indianapolis IN

September 16

Michigan Electric Supply Credit Group

Antonio's, Canton MI

September 16

Cincinnati Dayton Wholesale Electric Credit Group

Century Inn, Cincinnati, OH

September 21

Automotive Suppliers Credit Group

Conference Call

September 21

Indiana Electrical Suppliers Credit Group

Conference Call

September 22

Plumbing & Heating Wholesalers Credit Group

Ferguson Enterprises Conference Room, Indianapolis IN

September 22

Cincinnati Construction Suppliers Credit Group

Rusty Bucket & Tavern, Liberty Township, OH

September 22

Cleveland/Akron/Canton Food Suppliers Credit Group

Papa Joe's, Akron, OH

October 5

Michiana Credit Association Credit Group

Hilton Garden Inn, Elkhart, IN

October 12

Electric Industrial Supply Credit Group

Brann's, Wyoming, MI

October 12

Fort Wayne Building Materials Credit Group

Don Halls Gas House Restaurant, Fort Wayne, IN

October 13

West Michigan Heating & Plumbing Wholesalers Credit Group

Brann's, Wyoming, MI

October 14

Columbus Wholesale Electric

Conference Call

October 19

Indiana Electrical Suppliers Credit Group

Conference Call

October 19

Automotive Suppliers Credit Group

Conference Call

October 20

Indianapolis Building Trade Suppliers Credit Group

Blakley Corp. Conference Room, Indianapolis IN

October 20

Metal Service Center Credit Group

Antonio's, Canton, MI

October 21

Michigan Electric Supply Credit Group

Mojave Cantina, Clawson, MI

October 21

Cincinnati Dayton Wholesale Electric Credit Group

Century Inn, Cincinnati, OH

October 27

Plumbing & Heating Wholesalers Credit Group

Ferguson Enterprises Conference Room, Indianapolis IN

October 27

Cincinnati Construction Suppliers Credit Group

Rusty Bucket & Tavern, Liberty Township, OH

October 27

Cleveland/Akron/Canton Food Suppliers Credit Group

Papa Joe's, Akron, OH

NACM Connect - Nebraska Local Industry Credit Group Meetings DATE

GROUP

MEETING LOCATION

September 14

Omaha Builders Credit Group

TBD

October 12

Omaha Builders Credit Group

TBD

CREDITCONNECTION

SEPTEMBER / OCTOBER 2021

PAGE 15

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

GROUP

MEETING LOCATION

September 14

National Paper Packaging Credit Group

NACM Connect, Rolling Meadows, IL

September 15

National Manufactured Housing Credit Group

River Terrace, Gatlinburg, TN

September 16

National Electrical Manufacturers Credit Group

Zoom

September 16

National Metal Producers Credit Group

Zoom

September 16 & 17

National Steel Mill Credit Group

Zoom

September 17

National Underground Utilities Supply Credit Group

Zoom

September 17

National Leisure Living Credit Group

Zoom

September 23-24

National Metal Buildings & Components

Hilton Garden Inn Woodlands, Houston, TX

October 13-14

Home Healthcare, Nursing Home & Food Groups

TBD

October 13-14

National Water Products Credit Group

Zoom

October 21

National Coated Paper Credit Group

Zoom

October 14-15

National Garage Door & Operating Devices Credit Group

Ritz Carlton, Sarasota, FL

October 19

National Professional Apparel Credit Group

Zoom

October 19 - 20

National Lawn & Garden Credit Group

Louisville, KY

October 21-22

Meatpackers of America

Hotel Valencia, San Antonio, TX

October 22

National Truck, Trailer & Waste Equipment Credit Group

Conference Call

NACM Connect - New York Local Industry Credit Group Meetings DATE

GROUP

MEETING LOCATION

September 8

Rochester Plumbing/HVAC

Conference Call

September 10

Buffalo Building & Construction Credit Group

Eagle House, Buffalo, NY

September 14

WNY Food & Beverage Supply Group

Eagle House, Buffalo, NY

September 17

Best Practices Group

Eagle House, Buffalo, NY

September 21

CNY Building Group

Colemans, Syracuse,NY

September 28

Buffalo Plumbing/Electric Group

Eagle House, Buffalo, NY

October 8

Buffalo Building & Construction Credit Group.

Eagle House, Buffalo, NY

October 12

Western New York Food & Beverage Supply Credit Group

Eagle House, Buffalo, NY

October 13

Rochester Plumbing & HVAC Credit Group

Conference Call

October 18

Albany Building Credit Group

Conference Call

October 19

CNY Building Credit Group

Colemans, Syracuse, NY

October 21

Rochester Building Group

Cerames, Rochester, NY

October 26

Buffalo Plumbing & Electric Credit Group

Eagle House, Buffalo, NY

CREDITCONNECTION

SEPTEMBER/OCTOBER 2021

PAGE 16

Event Calendar TIME

PRESENTER / INSTRUCTOR(S)

Zoom Videoconferencing

9 a.m. – 4 p.m. CST

Dave Condon, CCE

NACM Connect MO 2021 Gateway Conference

Orlando’s Banquet & Event Center Maryland Heights, MO 63043

8 a.m. – 5:30 p.m. CST

Varies

September 16

NACM Connect MO 2021 Gateway Conference

Orlando’s Banquet & Event Center Maryland Heights, MO 63043"

8:30 a.m. – 4:30 p.m. CST

Varies

September 21

NACM Connect Emerging Leaders Roundtable

Zoom Videoconferencing

12 p.m. CST

Jeff Weber Jared Silver

October 5

NACM Connect Live Zoom CBF Exam Review

Zoom Videoconferencing

5 p.m. – 8 p.m. CST

John Jaeger, CCE

October 6

NACM Connect Live Zoom CREDIT 102

Zoom Videoconferencing

9 a.m. – 4 p.m. CST

Dave Condon, CCE

October 7

NACM Connect Live Zoom CCE Exam Review

Zoom Videoconferencing

5 p.m. – 8 p.m. CST

John Jaeger, CCE

October 12

NACM Connect Live Zoom CBA Exam Review

Zoom Videoconferencing

5 p.m. – 8 p.m. CST

John Jaeger, CCE

DATE

EVENT

September 8

NACM Connect CREDIT 101

September 15

CREDITCONNECTION

LOCATION

SEPTEMBER / OCTOBER 2021

PAGE 17

Join an NACM Connect Industry Credit Group

√

Place a Check Mark Next to Your Group!

If you placed a check mark then you are benefitting from networking with other credit executives in your industry.

Group members share invaluable 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 12 additional participating NACM affiliates―at no cost! In compliance with the Federal Antitrust Regulations, group activities are monitored by NACM trained and certified administrators.

If you did not place a check mark, contact Themis Vlahos, CCE, CGA, Director of Group Services by email at themis.vlahos@ nacmconnect.org or call him at 800-935-6226 x6428.

NATIONAL

ILLINOIS, NEBRASKA, WISCONSIN

MISSOURI

 Agricultural Credit Conference

 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

 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

 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 & Building 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 CREDITCONNECTION

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

SEPTEMBER/OCTOBER 2021

PAGE 18

Caine & Weiner Giveaway

$150

2021 Quarterly Giveaways

JULY | AUGUST | SEPTEMBER Place a collections claim with Caine & Weiner anytime during the months of July, August and September and become eligible to win a $150 gift card good towards Chili’s, On The Border or Maggiano’s Restaurants.

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.

CREDITCONNECTION

SEPTEMBER / OCTOBER 2021

PAGE 19

NACM Connect Member News

Welcome New Members & Reps

e m o Welc msbers beer w MewmM

Ne

Ne

Connection Katie Barnaby Conserv FS Jake Burris Custom Air Ventilation & Heating Carolyn Arote Life Fitness David Malley Graham Corp.

Jake Burris Lidestri Foods Inc. Kelly Maland Morley-Murphy Company Todd Boerschinger Panasonic Corporation of America Luz Moreno Safe Fleet Mindy Massey Total Energy Systems Michelle Gifford Urschel Laboratories Inc Jignesha Patel Wabash National Corp Kandy Moyer

Congratulations

New Designees!

NEW REPRESENTATIVES Wilma Dourney Arm-R-Lite Door Manufacturing Co. Vickie Katashuk Agilix Solutions, LLC. OBA/French Gerleman

Nicholas Paisley Parts Town Rianne McIntosh Performance Pipe Mark Hanley Quantum Polymers Inc

Jennifer Shortridge Atlas Oil Co

Linda Litschgi Roho Inc.

IIese O’Keefe Austin Powder Company

Danny Riffel Russell Stover Chocolates, LLC

Shannon Vinson Certified Power Inc.

Steve Harpring Site Supply Inc.

Kathy Raby Connexion

Brian Chambers Sysco Chicago, Inc.

Leah Coble F&M Mafco

Shanda McJunkins T Marzetti Co

Travis Palmer Foley Equipment Company

Angela Jolliffe The Garland Company Inc.

Chris Piatek Klein Tools Inc.

Tara Bumgardner Trimfoot Co. LLC

Nancy Hopf Magid Glove & Safety Mfg. Co., LLC

Jill Hill Value Drug Company

Carolyn Ricker Mike-sells Snack Food Co.

Noelle Landwehr Wittenstein Holding Corporation

David Henke Mississippi Lime Company

Jason Roush Zippo Manufacturing Company

Craig Lydigsen Nestle USA Automne Heather Newly Weds Foods Inc Katie Peltier Next Generation Films, Inc.

Eugenio DeVita, CBA Essendant Management Services, Inc.

Laura Anklam, CBF BissellHomcare Inc.

Natalie Hawn, CBA WSM Industries

Anthony M. Mitchell, Jr., CBF Nutrien Ag Solutions, Inc.

Korin Herzog-Colombe ACCO Brands, Inc. Jared Silver, CBA M. Holland Company

CREDITCONNECTION

SEPTEMBER/OCTOBER 2021

PAGE 20

BEST-IN-CLASS PEOPLE, BEST-IN-CLASS EDUCATION Social Media

Blog ■

Educated 900,000+ Credit Professionals Seminars

Extra Credit Videos

Infographics

White Papers

Webinars At NCS, we believe customer service is the cornerstone of our business. Our clients rely on us for our superior knowledge and support. We strive to be leaders in our industry and are always looking for ways to educate our customers – to help them make the best financial decisions possible.

We have educated more than 900,000 credit professionals through NCS events, resources, and social media. We even provide customized training and education programs for our clients, so they can get the most out of our products and services. We interact with not just your credit team, but also your financial, IT, legal, operations and sales teams.

Throughout your AR life cycle, we have resources to help get you paid. From beginning with UCC and Mechanic’s Lien services to end with our Collection services, we have you covered.

Contact us today to secure more sales! ®

Securing Your Tomorrow ®

NCScredit.com 800.826.5256 NCSsales@NCScredit.com

Collection Services | UCC Services | Notice & Mechanic’s Lien Services | Education & Resources CREDITCONNECTION

SEPTEMBER / OCTOBER 2021

PAGE 21

NACM Connect

Compliance Plays Crucial, Sometimes Complicated Role in Credit Management

that is also shared,” he added. So, although the transaction is transparent, “you do not necessarily know who is behind the transaction,” Roy explained.

“The network predetermines what information is private. It’s a curious mix of transparency and security.”

Blockchain melds together several different types of complex and abstract technologies. “It takes things from cryptography, encryption and decentralized databases and brings them together in a manner that creates more complexity,” Roy said. Blockchain is secure because “there’s no single point of failure so it gives you a level of security that you wouldn’t otherwise have in a traditional centralized system,” he continued. With traditional decentralized databases as you add more entities that share this database, points of attack increase with each addition. The same, however, is not true for blockchain transactions, Roy said. “An attacker would have to take over 51% of the nodes, and that is a lot harder to do—especially when it’s a large network.”■

NACM National, Editorial Getting the most out of blockchain will entail collaboration among interdisciplinary teams and disciplines, said SIMBA Chain’s Anjon Roy during the NACM and FCIB webinar, Blockchain Technologies & Decentralized Finance. “I think we’re only scratching the surface of what’s possible,” Roy said. Presently, about 80% of the conversation around blockchain is dominated by people in the technology field and 20% in other domains such as supply chain management, he added. “For blockchain to show its true promise, we need to reverse that trend to achieve a higher level of impact.” More opportunities will materialize as other fields, including business-to-business credit, work with the technologies supporting blockchain, he explained.

“That’s when the opportunities really become apparent.” Wasson and Roy CREDITCONNECTION

touted the benefits of blockchain technology, including its promotion of transparency. Roy likened it to a Google spreadsheet. Similarly, everyone in the transaction chain has access to it. However, each person can only add to it; they cannot erase content, and there is not a master.

“Everyone owns co-equal copies,” Roy said. The copies “automatically keep in sync by something called consensus algorithms. Blockchain enables multiple separate entities to share a single version of the data and keep that data in sync among themselves, thus removing the need to reconcile, message, propagate, sync or otherwise maintain versions.” Parties to the blockchain transaction decide what is transparent and what is secure.

In addition to the data stored in the transaction, “you can have executable code and intelligence [incorporated]

IN-PERSON

VIRTUAL SEPTEMBER/OCTOBER 2021

PAGE 22

NACM Southwest Giveaway

$150

2021 Quarterly Giveaways

JULY | AUGUST | SEPTEMBER Place a collections claim with NACM Southwest anytime during the months of July, August and September and become eligible to win a $150 gift card good towards Chili’s, On The Border or Maggiano’s Restaurants.

Each claim you place will be eligible for the drawings.

Enter as often as you like!

For information on placing claims, please contact Kelly Hall at 317.225.4281.

For more information visit www.nacmconnect.org.

CREDITCONNECTION

SEPTEMBER / OCTOBER 2021

PAGE 23

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.

YOU HAVE A NEW RESOURCE AVAILABLE! County coverage includes: Cook | DeKalb | DuPage | Grundy | Kane | Kankakee Kendall | Lake | McHenry | McLean | Peoria | Will Winnebago and more..

Cost for each search:

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 CREDITCONNECTION

SEPTEMBER/OCTOBER 2021

PAGE 24

Credit Application Processing

Credit Application Processing NACM Connect Will Do the Work For You Let Us Contact the References for You We will contact the references and forward the responses directly to you. The trade information will be merged onto the NACM National Trade Credit Report and you will receive the report, which may include additional payment history contributed from NACM members nationwide.

Pricing:

How the Credit Application Processing Service Works NACM Connect’s Credit Application Processing Department can assist you and your team to help streamline the process, reduce the cost of internal processing and provide you with a more thorough and comprehensive picture of the applicant.

Three Ways to Submit your Credit Application:

Rush Processing (24 hrs) ..........................................$25.00

1. Fax the credit application to 937-433-0307* or

Regular Processing (4-5 business days) .............$20.00

2. Email it to businesscredit@nacmconnect.org, or 3. Upload it to www.nacmconnect.org/services/ credit-application-processing

Additional Information (Subject to Availability): Secretary of State ......................................................... $5.00 UCC Records ................................................................... $5.00 (up to the 5 most recent filings)

We will contact up to four Trade References and one Financial Institution. Legible applications submitted with accurate contact information will ensure a quick turnaround, saving you time to focus on other important department operations! *US and Canada only

This service is available with your membership and the first three are free!

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

NACM Connect

3005 Tollview Drive, Rolling Meadows, IL 60008 • Phone: 847.483.6400 • Fax 847.253.6685 nacmconnect.org

CREDITCONNECTION

SEPTEMBER / OCTOBER 2021

PAGE 25

NACM Connect Emerging Leaders

LUNCH & LEARN

Emerging Leaders Group is geared towards younger members new to the credit industry!

nacmconnect.org

CREDITCONNECTION

EMERGING LEADERS New and Existing Customer Evaluations ─ Tips and Tricks, Financial and Otherwise

GUEST SPEAKERS: JEFF WEBER, ULINE

JARED SILVER, M. HOLLAND COMPANY

FREE ZOOM ROUNDTABLE DISCUSSION WHEN

Tuesday, September 21, 2021 12:00 ─ 1:00 p.m. CST Via ZOOM Registration Deadline: September 20, 2021

COST

FREE

Questions? Contact Lillian Novak at lillian.novak@nacmconnect.org or call 847.483.6478 SEPTEMBER/OCTOBER 2021

PAGE 26

Missouri

NACM CONNECT MEMBER SOCIAL EVENT sponsored by

Editorial Credit: Frank Romeo / Shutterstock.com

ST. LOUIS CARDINALS You work hard, so isn’t it time for a little break to recharge? Escape from routine and have some fun this summer. Grab some colleagues and enjoy a cold one while catching a game at Busch Stadium.

$30 per person ($80 Value) One coupon per company may be used for this event.

This event is open to NACM Connect members and guests. One guest per member can be accommodated. Tickets will be available strictly on a first-come, first-served basis.

VS

MILWAUKEE BREWERS

TUESDAY, SEPTEMBER 28 Registration Deadline: Friday, September 17

Time: 6:45

pm

Busch Stadium

700 Clark Street | St. Louis, MO 63102 Legends Club, Suite 306

If you have any questions, please contact Rochelle Wilson at rochelle.wilson@nacmconnect.org or 314.677.2803

All registrations for NACM Connect events are taken online only.

While registering online, you will have the opportunity to choose your payment method.

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

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

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

Cancellations received later than one week 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.

Register today - there are a lmited number of tickets available.

CREDITCONNECTION

SEPTEMBER / OCTOBER 2021

PAGE 27

CreditConnection NACM Connect 3005 Tollview Drive Rolling Meadows, Illinois www.nacmconnect.org 800.935.NACM

Stay Connected