The InterConnection VOLUME 8
n
ISSUE 6
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NOVEMBER/DECEMBER 2020
Erica White, CCE, Named Robert M. Healy Credit Executive of the Year Lillian Novak, CGA Vice President of Education, Marketing, and Member Services NACM Connect
W
hile it is our norm to announce the year’s winner at our April Annual Meeting, circumstances we are all too familiar with made that impossible. We were hoping that there would be an opportunity to get together this fall, but that didn’t come to fruition either. Instead of waiting any longer, Phil Lattanzio, NACM Connect President and Patrick Nelson, Chairman of the Board presented the award to Erica White on October 12th in an event more private than usual. Nominated by three of her peers and voted in by unanimous decision, White has been involved with NACM National since joining Ferguson Enterprises’ Credit Department and NACM Connect since relocating to Chicago. Her history with NACM Connect includes chairing the local Builders Suppliers Credit Group and participating in the Northern Illinois Heating Wholesalers Group. In 2015 White was instrumental in getting the Elite Membership program off the ground – a program designed to get young credit professionals involved in the Association. This highly successful program has led to year-over-year interest in the group as well as increased participation in committees and other leadership positions, including the Board of Directors, from this demographic. The program now includes members from all regions within NACM Connect.
Erica White, CCE, NACM Connect Councilor, former NACM Connect Chairperson, poses at the NACM Connect Illinois Credit Conference in October, 2019 . Ms. White is the 2020 Robert M. Healy Credit Executive of the Year.
White strongly promotes and supports education and the advancement of her staff and all members of the credit profession. Luz Moreno, CCE, CICP with Klein Tools met Erica at the Graduate School of Finance and Credit Management. Moreno commented, “Erica was very helpful and offered to help me with preparing for my CCE exam. A good leader will motivate, encourage and support others to excel. These are the qualities I see in Erica White.” White has also spoken several times at NACM’s Credit Congress and the NACM Connect Conferences and Annual Meetings. In 2019 White was awarded NACM National’s CCE Designation of Excellence Award which recognized her involvement and contribution to the Association on both the National and local levels. As stated, she is a graduate of the Graduate School of
THE INTERCONNECTION
Finance and Credit Management and she holds a BA/BS Degree in Finance from the University of Missouri. She is currently the Councilor of the Board of Directors of NACM Connect as well as a Board member of NACM National. She is also a member of the Association of Credit Executives, an independent organization comprised of Senior Credit Executives. Her career with Ferguson has also expanded and she currently holds the position of Regional Credit Manager. Please join the past recipients of this distinguished award, the staff and the Board of Directors of NACM Connect in congratulating Erica White for this award and for all her accomplishments both personally and professionally.■
NOVEMBER /DECEMBER 2020
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2020-2021
Board of Directors CHAIRPERSON Patrick Nelson, MBA ACCO Brands, Inc.
In This Issue
VICE CHAIRPERSON Mike Hill, CCE MiTek USA, Inc.
Erica White, CCE, Named Robert M. Healy Credit Executive of the Year
1
NACM Connect Indiana/Michigan/Ohio Local Industry Group Meetings
17
Education Digest
3
17
NACM Connect Conference Thank You’s
3
NACM Connect Pennsylvania Local Industry Group Meetings NACM Connect Events Calendar
18
Illinois Construction Stuff and Stuff
4
NACM Connect Credit Heroes Credit Conference Exhibitor Booths Door Prizes
NACM Connect Member Spotlight
19
6
19
NACM Connect Credit Heroes Credit Conference Remaining LIVE Events
NACM Connect 2020 Annual Compensation Survey
8
Craig’s Corner
20
For Credit Managers, Every Day is a Negotiation
10
21
Credit Decisions Without Financials
12
NACM Connect Credit Reporting Solutions
Why You Should Use CLLA Certified Agencies
NACM Connect Industry Credit Groups
22
13
Welcome New Members and Reps
24
Caine and Weiner Quarterly Giveaway
14
Midwest Business Staffing
25
NACM Connect Illinois/Wisconsin Local Industry Group Meeting
15
IOC 2020-2021 Schedule
26
NACM Connect Missouri/Kansas Local Industry Group Meeting
15
Credit 101, 102 and 103
27
NACM Connect Nebraska Local Industry Group Meetings
NACM Southwest Quarterly Giveaway
29
15
Indiana Best Practices Discussion Group
30
NACM Connect National Industry Credit Group Meetings
16
Eastern Wisconsin Best Practices Discussion Group
31
NACM Connect New York Local Industry Credit Group Meeting
16
TREASURER Kevin Stinner, CCE, CCRA Simplot AB Retail, Inc. 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 DIRECTORS—TERMS ENDING 2022 John-John McEvilly, CBA, CICP PSAV Presentation Services Joe Lange, CCE, CCRA Brenntag Great Lakes, LLC 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. PRESIDENT Phillip J. Lattanzio, CCE, COO NACM/Chicago-Midwest SECRETARY Kerry Jensen, CPA NACM/Chicago-Midwest COUNCILOR Erica White, CCE Ferguson Enterprises EDITORIAL STAFF EDITOR Linda Herbst Senior Marketing Administrator ASSOCIATE EDITORS Lillian Novak, CGA V.P. of Education and Marketing Margaret Krafft Marketing Administrator THE INTERCONNECTION
NACM Connect Mission Statement
Value 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.
Vision Statement Striving to have the most comprehensive and leading NACM affiliate serving the commercial credit profession by consistently exceeding the members’ expectations.
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.
NOVEMBER / DECEMBER 2020
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Institute of Credit (IOC)
S
Education Digest
tart the process of earning your professional designation. If you would like more information, please contact the NACM Connect Education Department at 800.935.6226 or email Margaret Krafft at margaret.krafft@nacmconnect.org.
WINTER 2020/SPRING 2021 CBA
Rolling Meadows Basic Financial Accounting Available via Live Videoconference
Thursdays January 7 – March 11
VIA ZOOM Rolling Meadows, IL
Business Credit Principles Available via Live Videoconference
Mondays March 15 – May 17
VIA ZOOM Rolling Meadows, IL
Financial Statement Analysis 1 Available via Live Videoconference
Thursdays March 18 – May 27*
VIA ZOOM Rolling Meadows, IL
CONFERENCE
CBF
Rolling Meadows Business Law Available via Live Videoconference
Wednesdays March 17 – June 2
VIA ZOOM Rolling Meadows, IL
* No Class on April 15 (Chicago Annual Meeting).
Credt 101, 102 & 103 Rolling Meadows
Credit 102 Available via Live Videoconference
Wednesday, November 11
VIA ZOOM Rolling Meadows, IL
Credit 103 Available via Live Videoconference
Wednesday, December 9
VIA ZOOM Rolling Meadows, IL
All Credit 101, 102 &103 classes are from 9 a.m. to 4 p.m.
Exam Review Classes
Rolling Meadows Available via Phone Conference CBF
TBD
Rolling Meadows, IL
CCE
TBD
Rolling Meadows, IL
CBA
TBD
Rolling Meadows, IL
Tuition Must be Paid Before the First Class Begins. Online registration only through www.NACMConnect.org. Registrations will not be accepted past the registration deadline. Classes are subject to cancellation based on enrollment. Questions? Contact Margaret Krafft at 847.483.6420 or send an email to margaret.krafft@nacmconnect.org.
DESIGNATION EXAM DATES & DEADLINES Exam Dates Monday, November 9, 2020
Application and Paperwork Deadlines Friday, September 4, 2020
THE INTERCONNECTION
NACM Connect would like to acknowledge the support we received this year from our record breaking conference attendees, speakers, committee members, sponsors, exhibitors and scholarship donors. We are thrilled with the success of the event and the fact that we were able to bring you timely and relevant information. Special thanks to our Diamond sponsors, UTA and Dun & Bradstreet and to Uline’s support of the Robert L. Vodraska Scholarship Foundation with their annual four-figure donation. Although we missed seeing everyone this year, it was great to have participation from so many members that have not been able to participate in the past. The world is a crazy place, but from chaos comes growth and we have learned this year that today’s technology has a place in keeping our members educated. We are already planning next year’s events and hope to bring both live and virtual aspects to our conferences going forward.
Lillian Novak NOVEMBER / DECEMBER 2020
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News
Illinois Construction Stuff and Stuff customer’s name, but the Rush and Urgent are still hard-coded on the form. Then there is the occasional “Second request” I receive, sometimes weeks after I responded to the first request. I keep copies and proof of all of my responses, so I know I got back the first time, usually within an hour of receipt. If it was so much of a crisis, they wouldn’t have misplaced my response. Worse, I have to drop what I’m doing to respond a second time to a pushy rude-nik who couldn’t manage to keep track of my first response.
Norm Cowie, CCE
A
re there still hit-men out there? I mean, do they exist? Because I’ve just about had it. I’m completely fed up. Oh, I know you’re thinking to yourself, “Self, sounds like Norm is having another one of his rants.” And you’d be completely right, and it’s about something I’ve ranted about before. So consider this a refresher rant. My rant? Rush. Or more like, Rush. No, that doesn’t do it justice, it needs more font, a lot more font … and some caps, all caps… and exclamation points … yeah, lots of them, and underlines, like this,
RUSH!!!!!!! Sure, they might stick a ‘please’ in front of it, but never a ‘pretty please.’ And it doesn’t take the pushiness out of the faux crisis perpetuated by the exclamation points. And this guy Rush has a brother who goes by the name, “Urgent.” And Urgent is just as much an attentiongrabber as his brother Rush, so you have,
URGENT!!!!!!! They like hanging together, so you’ll often see them like this,
RUSH!!! URGENT!!! Then, in case the brothers failed to capture your attention, you might get an ORDER PENDING. All of this calibrated to instill a sense of life-saving anxiety where quite often the font on Rush and Urgent is the largest on the document. I don’t even have to tell you what I’m talking about, do I? Because if you’re a credit professional, you get letters like this all of the time, sometimes several or even many of them the same day, all of them THE INTERCONNECTION
demanding that you drop everything you’re doing, this minute, because one of your customers is applying for credit with someone else, and this ‘else’ demands immediate information about your credit history with your customer.
I don’t know who first started with the Rush/Urgent histrionics, but I’ve finally had it. I’m gonna obliterate the creep who started this obnoxious habit that has infected so many credit references.
But here’s the thing. These things are voluntary. I’m doing this for free. In fact, I’m being pressed to pull away from what my employer is paying me for to do something for a company who doesn’t give me a nickel. And sure, I get that I’m helping my customer, but when someone feels they need to add RUSH, URGENT, ORDER PENDING !!!!! the implication is that I don’t see how this serves my customer and that otherwise I won’t respond.
And any chance he’d do it for, say $100?
Some companies won’t even share their history or respond to credit references, though some of these very same companies who won’t share their history suffer no shame in sending out their own credit references. I keep a spreadsheet of these hypocrites because I only give credit information to those who reciprocate. And don’t tell me you won’t give references because you submit your history to D&B or something. We both know your information is buried anonymously in those reports, and you are requiring I sign up for D&B or purchase the information. Other companies imbed RUSH, URGENT automatically on every reference. How do I know this? Well, occasionally I’ve received such a form where they forgot to fill in our
Anybody know a hit-man?
Norm (BTW, I’ve got a new book out, MOONED, 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.) If you want to read more on what happened to me, visit my blog at www. normcowie.com, and read the one titled “I’m back … and front…” *Almost all of my previous articles are available in my new book, THE ILLINOIS MECHANICS LIEN STATUTES … AND OTHER CONSTRUCTION STUFF available at NACM/Chicago! ■ Norman Cowie, CCE is Director of Credit for Paramont-EO, Inc. Besides his regular column for InterConnection, he has written articles appearing in the Chicago Tribune, Cynic Magazine, Business Credit and the Herald News. His current book titled, "The Illinois Mechanics Lien Statutes … and other construction stuff" is available for sale through NACM Connect. He also has ten published humor/fantasy novels, some through traditional publishers Echelon Press, Quake Books and Draumr Publishing, although more recently he has transitioned over to Indie publishing. Norm can be reached at norm.cowie@paramont-eo. com, or feel free to visit him at www.normcowie.com which features past NACM Connect articles.
NOVEMBER / DECEMBER 2020
PAGE 4
PAY YOUR NACM CONNECT MEMBERSHIP DUES QUARTERLY! AUTO RENEWAL PROGRAM IS AVAILABLE THIS OPTION HAS JUST BECOME AVAILABLE FOR BOTH
MEMBERSHIP AND GROUP DUES WHEN PAYING WITH A CREDIT CARD. Contact your Membership Consultant or NACM Connect’s Accounting Department for more information: accounting@nacmconnect.org.
Contact dawn.federico@clla.org for more information. nacmconnect.org
VISIT THE EXHIBITORS
VIRTUAL BOOTHS FOR A CHANCE TO WIN FABULOUS
DOOR PRIZES
2020 ONLINE
Conference and Expo October 14 through December 16
Thank You to Our Sponsors! DIAMOND SPONSORS
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PLATINUM SPONSORS
AGEN CY Certified by CLLA Endorsed by IACC
GOLD SPONSORS Credit Report Solutions
SILVER SPONSORS BRONZE SPONSORS
The Robert L. Vodraska Scholarship Foundation NOVEMBER / DECEMBER 2020
THE INTERCONNECTION
PAGE 7
UPCOMING LIVE CONFERENCE EVENTS TUESDAY, NOVEMBER 10 10:00 am CST Credit Improv
Curtis Litchfield, CCE, Land O’ Lakes/Purina Mills; Cheryl Pinson, CCE, Bunge North America; Erica White, CCE, Regional Credit Manager, Ferguson Enterprises
Have you ever gone to an NACM session based on the title or description and it didn’t quite cover what you thought it would? Have you ever wished there was one additional topic that you wanted to hear about that wasn’t offered? Now is your chance to have it all. Our Credit Improv class was designed with you in mind. An experienced panel of Credit Professionals will be available to discuss any credit related topic you want to know more about. Come prepared with your questions!
WEDNESDAY, NOVEMBER 11
Attendee Happy Hour on TEAMs
THURSDAY, NOVEMBER 12
10:00 am CST
Strategies for Success
Diana Crowe, Regional Director, NACM Southwest
Over the past several years, there’s been a growing/ continuing trend of companies expecting their employees to do more with less. As people retire or move on to other jobs, they aren’t being replaced. Instead, their workload is distributed amongst those who remain. What are best practices for managing the increasing volume of work (and still keep some level of sanity?!). In this session we’ll take a look at overall strategies for making the most of your time, establishing boundaries to help your prioritize, along with tools to help you maximize the return on the investment of your time.
MONDAY, DECEMBER 14
4:00 pm CST Vendor and Attendee Happy Hour on Zoom and Closing Comments from Phil Lattanzio, CCE THE INTERCONNECTION
NOVEMBER / DECEMBER 2020
PAGE 8
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Collection Services | UCC Services | Notice & Mechanic’s Lien Services | Education & Resources THE INTERCONNECTION
NOVEMBER / DECEMBER 2020
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News
For Credit Managers, Every Day is a Negotiation Andrew Michaels Editorial Associate, NACM
F
rom the first day of work to the eventual day of retirement, credit professionals are negotiating in which they will discuss a subject with the goal of reaching an equitable solution that benefits each party. Whether it’s negotiating with the sales team, fellow credit colleagues, or customers, the process requires a give and take on both sides of the table. There might not be a step-by-step rulebook per se, but there are tactics credit professionals can utilize to hold a successful negotiation. In today’s business world, the “old ways” of negotiation are no more, said Alexandra Carter, the director of the Mediation Clinic at Columbia Law School, in Forbes. Whereas people once “held [their] cards close and then tried to spring a surprise on [their] adversary,” Carter said negotiation is now about transparency. “You need to get clear on the problem you are solving, your needs, your concerns and your goals—and then be clear in communicating with the other person,” said Carter, who is a negotiation trainer for the United Nations. “Transparency creates trust. And trust creates deals.” Both parties involved in the negotiation process mustn’t hold a conversation like a game of table tennis, where each player focuses solely on what they want: a win. Instead, Carter said each side must try to steer the conversation to reach a middle ground by asking the right questions along the way. Credit Manager Brett Hanft, CBA, said when he picks up the phone to discuss an issue with his accounts payable team, accounting manager, or CFO, he not only asks questions, but also listens to the other person’s questions and concerns. Hanft said he and his credit colleagues at American International Forest Products (AiFP) set a goal to have an amicable conversation during all negotiations, knowing an aggressive mindset will get them nowhere. THE INTERCONNECTION
“
Everything is negotiable. Whether or not the negotiation is easy is another thing. Carrie Fisher, American Actress/Writer
After exchanging pleasantries, Hanft said he kicks off the discussion by sharing the reason for the call. More often than not, Hanft’s negotiations involve payment from a customer who is past due. In this case, questions to ask the customer may include, “Why are we in this situation?” “Is there something that you need that you don’t have in order to get the invoice processed?” or, “Is there a cashflow issue?” “When you ask a leading question and then listen, you’d be amazed at the information you get from the person,” the long-time credit manager said. “You want to spin it as, ‘What can we do to help you,’ rather than, ‘I don’t care what your excuses are.’ Saying, ‘We need to get paid or we’re sending you to collections,’ isn’t going to give you the end result you’re looking for when you’re trying to negotiate and benefit both sides.”
Hanft said he recently worked with an account where AiFP was getting prompt payments via ACH from a customer, including discounted payments and an increased sales volume. Shortly thereafter, the customer was paying their invoices three weeks late, turning their 10-day terms into nearly 30-day terms. Hanft took action by contacting the company’s president and asking what he and AiFP could do to help. By listening to the customer, the credit department learned the company was experiencing slow pay from its own customers, therefore, slowing their own cash flow. By listening to the customer, Hanft said he was able to learn their concerns and develop a suitable solution. “You want to be able to get paid and have your customer feel valued,” he said. “They don’t like being in a situation where they’re being paid late and they know they’re paying you late. Continued on page 18>>
NOVEMBER / DECEMBER 2020
PAGE 10
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THE INTERCONNECTION
NOVEMBER / DECEMBER 2020
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News
Credit Decisions Without Financials Michael Miller Managing Editor, NACM
A
credit investigation to determine the health and potential financial stability of a customer involves numerous steps. Similar to the board game Clue, credit professionals are trying to paint a picture. In the case of the game, players are searching for a murderer, the murder weapon and the location of the murder, asking questions along the way to help connect the dots and fill in the missing pieces. The same can be said for credit departments investigating a new customer or new order—searching for all the information possible to make the best-possible credit decision. Often, like in the game, not all the information will be available to paint this picture, but it is still the job of the credit department to support and protect the company. Not having financial statements is a gigantic hurdle for credit departments; however, this barrier can still be broken with the right about of pressure and information during the credit review process. In a recent NACM webinar, “No Financials, No Problem!” seasoned credit professional Ed Bell, Ph.D., CBA, ICCE, discussed the multi-step process that is making credit decisions without one of the key data points to extend credit. Throw a wrench into the mix like the COVID-19 pandemic and this scenario evolves into another creature. But the philosophy remains the same, gather the best information possible to make an accurate credit decision. “Things have changed dramatically in the last seven to eight months; this year is a different environment for us when it comes to credit situations,” Bell said. “The information gathering strategy with COVID-19 [is different especially with] limited customer visits and travel restrictions.” Financial risk analysis is described as an art—decision making with
references, information from trade credit groups, information about the customer’s products and industry, and the current economic climate.
CUSTOMER FINANCIAL DISTRESS
How much information is needed and how in-depth it will be depends on the amount of credit being offered. Smaller amounts will likely mean less information, but it’s still important to “Know Your Customer.” There are two ways of gathering this information: direct and indirect. The direct format comes through customer contact and other noncommercial sources like references—think doing this process internally as a credit department through sales reps, public records, speaking to the customer, etc. Indirect investigations involve information from a third-party source—credit data companies and reports such as the National Trade Credit Report and organizations like NACM and FCIB.
Changing payment patterns Changing buying or selling habits Shrinking cash flow Higher customer demands Large accruals Withholding financial information High DSO Changes in management Persistent rumors Tax liens
knowledge and experience (gut feeling)—and a science—using math, ratios and calculations. The credit reviews are a very subjective exercise of reviewing the extension of credit to customers based on the 5 Cs and 6 Ps of credit. One of the Cs—conditions— is extremely important right now with the pandemic, hurricanes, fires and political unrest across the U.S. “We’re not just looking at the numbers, if we were, we’d be missing potential customers and business,” which is where character come into play as well. Capital is the only “C” that is truly looked at on a quantitative level through financial statements. Why Have a Credit Review? Having a credit review process in place with or without customer financials helps set the appropriate risk and exposure for the customer, i.e., a credit limit and terms. It also protects assets against bankruptcy and other potential future nonpayment issues or write-offs. Without customer financial documents it is vital to gather as much information as possible. This can come in the form of bank and trade
THE INTERCONNECTION
Without financials, credit departments need to research performance information about customers, which can come from asking the customer to estimate sales volumes. This is one way to help find the customer’s position in the market and industry. A company’s size—the number of facilities and employees—can also be an indicator of their financial health. While more difficult in the current climate, customer visits can provide invaluable information like the condition of the facility and overall appearance. Determining customer financial distress, especially without financials, can be difficult. Bell introduced 10 warning signs. 1. Changing payment patterns: asking for extended terms, but why? Is there a cash flow issue or is this what a competitor is doing? 2. Changing buying or selling habits. Is the customer’s business increasing or are they prebuying to bulk up before a bankruptcy filing? 3. Shrinking cash flow, but this is hard to determine without financials. Continued on page 18>>
NOVEMBER / DECEMBER 2020
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Commercial Law League of America Certified Agencies
The Original Commercial Collection Agency Certification Program CLLA CERTIFIED AGENCIES DELIVER: • • • • • • • • •
•
Maximum dollar recovery Prompt remittance of funds Adherence to rigorous Code of Ethics Mandatory Surety Bond protection Separate trust accounts Reputable collection practices Agency stability Mandatory continuing education for agency executives Audited annually by an independent third-party CPA firm Endorsed by the International Association of Commercial Collectors (IACC)
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 certification is a voluntary, in-depth examination process that requires agencies seeking certification to meet or exceed standard financial guidelines. Only agencies with the highest standards earn the CLLA certification.
Look for the CLLA Certification Seal.
To find a CLLA Certified Agency near you visit www.clla.org/certification THE INTERCONNECTION
NOVEMBER / DECEMBER 2020
PAGE 13
Caine & Weiner News
Caine & Weiner 2020 Quarterly Giveaways NACM CONNECT
OCTOBER | NOVEMBER | DECEMBER
Place a collections claim with Caine & Weiner anytime during the months of October, November and December and become eligible to win a $150 Nordstrom 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.
THE INTERCONNECTION
NOVEMBER / DECEMBER 2020
PAGE 14
Credit Group Meeting Calendar
NACM Connect Illinois/Wisconsin Local Industry Credit Group Meetings DATE
GROUP
MEETING LOCATION
November 10
Electrical Distributors Credit Group
Zoom Meeting
November 11
Institutional Credit Association
Zoom Meeting
November 12
Northern Illinois Heating & Plumbing Wholesalers Credit Group
Zoom Meeting
November 17
Metal Distributors Credit Group
Zoom Meeting
November 17
International Credit Professionals Credit Group
Zoom Meeting
November 18
Floor Covering Credit Group
Conference Call
November 19
Ad Media Credit Group
Zoom Meeting
November 19
Basic Material Credit Group
Zoom Meeting
December 8
Masonry Credit Group
Zoom Meeting
December 10
Northern Illinois Heating & Plumbing Wholesalers Credit Group
Zoom Meeting
December 15
Electrical Distributors Credit Group
Zoom Meeting
December 15
Metal Distributors Credit Group
Zoom Meeting
December 16
Floor Covering Credit Group
Conference Call
December 17
Ad Media Credit Group
Zoom Meeting
NACM Connect - Missouri/Kansas Local Industry Credit Group Meetings DATE
GROUP
MEETING LOCATION
November 6
Central Illinois Electrical Distributors
Zoom Meeting
November 12
Kansas City Builders Credit Group
Zoom Meeting
November 17
Midwest Regional Food Credit Group
Conference Call
November 18
Electrical Distributors Credit Group
Zoom Meeting
November 20
Refrigeration & Warm/Cool Air Credit Group
Zoom Meeting
December 10
Midwest Regional Food Credit Group
Conference Call
December 16
Electrical Distributors Credit Group
Zoom Meeting
NACM Connect - Nebraska Local Industry Credit Group Meetings DATE
GROUP
MEETING LOCATION
November 10
Nebraska Builders Credit Group
Conference Call
December 8
Nebraska Builders Credit Group
Conference Call
THE INTERCONNECTION
NOVEMBER / DECEMBER 2020
PAGE 15
Credit Group Meeting Calendar
NACM Connect National Industry Credit Group Meetings DATE
GROUP
MEETING LOCATION
November 10
National Metal Industry Raw Material Group
TEAMs
November 11
Northeast Regional Metal Distributors
TEAMs
November 11
National RV / Manufactured Housing Credit Group
Zoom Meeting
November 11
National Electrical Manufacturers Credit Group
Zoom Meeting
November 17
National Horticultural Credit Group
Zoom Meeting
November 17
National Plumbing, Pipe & Heating Credit Group
TEAMs
November 18
National Home Centers & Building Materials Credit Group
Zoom Meeting
November 19
National Consumer Products Credit Group
TEAMs
November 19
National Metal Producers Credit Group
Zoom Meeting
November 19-20
National Steel Mill Credit Group
Zoom Meeting
November 20
National Circuit Board Suppliers Credit Group
Zoom Meeting
December 15
National Paper Packaging Credit Group
Zoom Meeting
December 17
National Metal Producers Credit Group
Zoom Meeting
December 18
National Underground Utilities Credit Group
Zoom Meeting
NACM Connect - New York Local Industry Credit Group Meetings DATE
GROUP
MEETING LOCATION
November 10
Western New York Food Credit Group
Conference Call
November 11
Rochester Plumbing & HVAC Credit Group
Conference Call
November 13
Buffalo Building & Construction Credit Group
Conference Call
November 17
Central New York Building Credit Group
Conference Call
November 19
Rochester Building Credit Group
Conference Call
November 20
New York Best Practices Group
Conference Call
November 24
Buffalo Plumbing & Electric Credit Group
Conference Call
December 8
Western New York Food Credit Group
Conference Call
December 9
Rochester Plumbing & HVAC Credit Group
Conference Call
December 11
Buffalo Building & Construction Credit Group
Conference Call
December 17
Rochester Building Credit Group
Conference Call
December 21
Albany Building Credit Group
Conference Call
December 22
Central New York Building Credit Group
Conference Call
THE INTERCONNECTION
NOVEMBER / DECEMBER 2020
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Credit Group Meeting Calendar
NACM Connect Indiana/Michigan/Ohio Local Industry Credit Group Meetings DATE
GROUP
MEETING LOCATION
November 5
Michiana Credit Association Credit Group
Zoom Meeting
November 10
Grand Rapids Electric Industrial Supply Credit Group
Conference Call
November 11
West Michigan Heating & Plumbing Wholesalers Credit Group
Conference Call
November 12
Lumber & Building Materials Credit Group
Conference Call
November 12
Indiana Wholesale Floor Covering Credit Group
Conference Call
November 12
Columbus Wholesale Electric Credit Group
Conference Call
November 17
Automotive Suppliers Credit Group
Conference Call
November 17
Indiana Electrical Suppliers Credit Group
Conference Call
November 18
Metal Service Center Credit Group
Conference Call
November 18
Indianapolis Building Trade Suppliers Credit Group
Conference Call
November 18
Cincinnati Construction Suppliers Credit Group
Conference Call
November 18
Cleveland/Akron/Canton Food Suppliers Credit Group
Zoom Meeting
November 19
Michigan Electric Supply Credit Group
Conference Call
November 19
Indiana Best Practices
Zoom Meeting
November 19
Cincinnati Dayton Wholesale Electric Credit Group
TEAMs
November 25
Plumbing & Heating Wholesalers Credit Group
Conference Call
December 8
Grand Rapids Electric Industrial Supply Credit Group
Conference Call
December 8
Fort Wayne Building Materials Credit Group
Conference Call
December 9
West Michigan Heating & Plumbing Wholesalers Credit Group
Conference Call
December 10
Michiana Credit Association Credit Group
Zoom Meeting
December 10
Columbus Wholesale Electric Credit Group
Conference Call
December 15
Automotive Suppliers Credit Group
Conference Call
December 15
Indiana Electrical Suppliers Credit Group
Conference Call
December 16
Indianapolis Building Trade Suppliers Credit Group
Conference Call
December 16
Cleveland/Akron/Canton Food Suppliers Credit Group
Zoom Meeting
December 17
Cincinnati Dayton Wholesale Electric Credit Group
TEAMs
December 23
Plumbing & Heating Wholesalers Credit Group
Conference Call
NACM Connect - Pennsylvania Local Industry Credit Group Meetings DATE
GROUP
MEETING LOCATION
November 11
Building Trades Credit Group
Conference Call
November 17
Construction/Plumbing & Heating Credit Group
Conference Call
November 18
Food Suppliers Credit Group
Conference Call
November 24
Electrical Suppliers Credit Group
Conference Call
December 9
Building Trades Credit Group
Conference Call
December 16
Food Suppliers Credit Group
Conference Call
THE INTERCONNECTION
NOVEMBER / DECEMBER 2020
PAGE 17
Event Calendar
DATE
EVENT
TIME
PRESENTER / INSTRUCTOR(S)
October 14 December 16
NACM Connect Fall Credit Conference Credit Heroes
November 11
NACM Connect Live Zoom CREDIT 102
9 a.m. – 4 p.m.
Richard Bellis, CCE
November 18
NACM Connect - Wisconsin Live Zoom Wisconsin Best Practices Discussion Group
12 p.m. – 2:00 p.m.
Neil Cline
November 19
NACM Connect - Indiana Live Zoom Indiana Best Practices Discussion Group
10:30 a.m. – 12:00 p.m.
Matt Fluegge
December 9
NACM Connect Live Zoom CREDIT 103
9 a.m. – 4 p.m.
Richard Bellis, CCE
Access to all content
For Credit Managers, Every Day is a Negotiation <<Continued from page 10 They respect the fact that you have a partnership and a relationship you want to preserve, so they’re doing what they can to find a way for us to meet in the middle.” Negotiations come in many forms, Hanft noted, and do not always revolve around payment plans or addressing a past due account. The
lumber industry and many others may also negotiate credit limits, especially during today’s economic climate when prices are high. Finding common ground in those situations is a matter of negotiating early payments and/ or spreading orders over time to get money on invoices that are coming due before there’s increased exposure to the account balances.
“Ultimately, you want everything from what you’re trying to get from the conversation,” Hanft said. “But, it’s smart for you to also look at what you’re willing to give up, so you’re still able to have a satisfactory conclusion.” ■
Credit Decisions Without Financials <<Continued from page 12 4. Higher customer demands 5. Large accruals 6. Withholding financial information despite previously being comfortable sharing it. 7. High DSO 8. Changes in management 9. Persistent rumors 10. Tax liens
There is no one-size-fits-all credit option, but there are ways to combat potential problems down the line. Credit departments can reduce or shorten payment terms; require partial payment or prepayment; use letters of credit; have customers sign personal guaranties; use other forms of security agreements; purchase credit insurance policies; sell only on credit cards; or as a last resort, stop selling to the customer.
THE INTERCONNECTION
Having the full picture is the most efficient and effective way to make a credit decision, but some situations don’t always allow for that. Like in Clue, asking questions is the best way to get there without guessing if someone is the murderer or if the credit department is making the right decision. ■
NOVEMBER / DECEMBER 2020
PAGE 18
Member Spotlight
NACM Connect Member Spotlight Amber Walker from Cope Plastics, Inc.
A
mber serves as the Corporate Credit and Collections Manager at Cope Plastics, Inc. where she is responsible for managing the Credit and Collections and the Accounts Receivable departments. Amber ensures that business processes are aligned for her industry by analyzing consumer financial data and increases sales while mitigating risk. She conducts audits to ensure her departments are within compliance regulations for their various roles. Amber implements financial reporting to the Director of Finance to ensure financial mechanisms align with the Corporate Strategic Plan. “I do so by identifying key barriers/core problems, while troubleshooting these barriers, to obtain resolution on complex problems,” states Amber. “At times, I must make decisions under conditions of ambiguity. These decisions are key to producing effective end results.” Amber works with Rich Steinkoenig, Credit Solutions Consultant, and other consultants at NACM Connect Credit Report Solutions. “The services that NACM Connect has provided to myself, as well as the company, has been an integral part of our overall
Amber Walker, Corporate Credit and Collections Manager at Cope Plastics, Inc. talks about how she has benefited from using services from NACM Connect. View Amber’s video at NACM Connect’s YouTube Channel. The above photo of Amber Walker is linked to the video.
success,” says Amber. “When I came onboard with Cope Plastics, they were a part of NACM Connect, but they were not utilizing the enormously valuable programs and partnerships that NACM has to offer. From the educational training, the annual conferences ...to networking with other individuals... all have been a tremendous help to our credit department.”
Amber has over 15 years of experience in Customer Relations with an extensive background in finance, customer service, quality assurance & training, performance reporting analysis, business implementations, and process improvements. ■
NACM CONNECT 2020 CREDIT PROFESSIONALS COMPENSATION SURVEY NACM Connect has launched their third Credit Professionals Compensation Survey. This year’s survey will include questions related to COVID-19 and its effect on the credit department as well as information relevant to credit professionals including designations, certifications and emerging trends in credit department hiring. The survey will provide detailed information covering compensation information for each credit department position benchmarked. The deadline participate is November 30, 2020. The results will be tabulated and are expected to be available in February 2021 and will be free to each participating member. Non-participating members can purchase a copy of the results for $200. This survey and its results will be exclusively available to member companies of NACM Connect. For more information, contact Leslie Harrison, SPHR at 847.483.6485 or visit nacmconnect.org.
THE INTERCONNECTION
NOVEMBER / DECEMBER 2020
PAGE 19
Craig’s Corner
CRAIG’S
CREDIT CORNER WHAT IS NEW AND EXCITING IN THE WORLD OF CREDIT INFORMATION TOOLS THAT HELP MITIGATE RISK.
Craig Smith, Director of NACM Connect Credit Report Solutions Contact Craig Smith, Director of Credit Solutions by calling 847-483-6484 or visit www.nacmconnect.org and click on Credit Report Solutions.
Have You Looked at Equifax Commercial Credit Reports Lately? Many people realize Equifax has one of the largest consumer databases in the world, but did you know they also have approximately 33 million credit reports on businesses? If you have not checked into the commercial Equifax credit report, you may be surprised. Equifax has made two recent significant acquisitions that will expand the trade in their credit reports. Last year they purchased PayNet and this year Ansonia was acquired. PayNet manages the largest proprietary database of small business loans, leases and lines of credit. Ansonia is a credit agency most noted for its transportation and logistics industry trade data with more than $1.3 trillion in accounts receivable data. Adding these two sources of commercial trade information will enhance the value of the Equifax credit report. The PayNet data has already been added to the Equifax report and Equifax is working to bring in the Ansonia information next. Here are some additional reasons to consider adding Equifax reports to your credit decision process:
• Equifax is one of the two credit agencies most frequently pulled reports on Canadian businesses.
• Online access to 33 million commercial companies and has corporate linkage to about 6 million businesses.
• NACM Connect negotiated a new agreement with Equifax to lower
NACM 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.
pricing for our members.
If you are interested in looking into accessing Equifax credit reports, contact your NACM Connect Consultant working with members in your State or myself for a free sample report. Just reach out to one of our consultants listed below: • Craig Smith – Chicago and surrounding suburbs Craig.smith@nacmconnect.org 847-354-1248 • Neil Cline – Wisconsin, Nebraska, Northern and Western IL Neil.cline@nacmconnect.org 847-483-6469 • Rich Steinkoenig – Missouri, Kansas, Michigan, Central IL Rich.steinkoenig@nacmconnect.org 314-677-2804 • Darren Greene – New York, Ohio (except SW Ohio) Darren.greene@nacmconnect.org 614-406-5884 • Jim Kelly – SW Ohio, Indiana, Pennsylvania Jim.kelly@nacmconnect.org 513-795-1740
Contact Craig Smith, Director of Credit Solutions by calling 847-483-6484 or visit www.nacmconnect.org and click on Credit Report Solutions.
THE INTERCONNECTION
NOVEMBER / DECEMBER 2020
PAGE 20
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
OPTION
OPTION
OPTION OPTION
OPTION
OPTION
OPTION OPTION
(CONSUMER) OPTION OPTION
(CONSUMER) OPTION
Questions? Contact Craig Smith @ craig.smith@nacmconnect.org or call 847.483.6484 THE INTERCONNECTION
NOVEMBER / DECEMBER 2020
PAGE 21
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 an 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 • Grand Rapids Lumber & Building
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
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
• 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 • Columbus Wholesale Electric Supply • Ft Wayne Building Materials • Grand Rapids Electrical/Industrial Suppliers
THE INTERCONNECTION
• 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
NOVEMBER / DECEMBER 2020
PAGE 22
NACM Connect industry Groups
roups
G Industry Credit Notes from Themis:
Stay Connected with NACM Connect!
NACM Connect Industry Credit Groups are still meeting during the pandemic lockdown via ZOOM video conferencing, TEAMS and conference calls. These calls give group members an opportunity to see a friendly face, or to talk business, and everything in between. The response to these calls has been overwhelmingly positive because it has provided an outlet to get real-time information from other group members. With ZOOM and TEAMS meetings, members can turn on their camera or choose to turn off their camera and participate via audio. Group members always follow federal, state and local Anti Trust rules and regulations during all meetings.
Face to face group meetings are the best way for group members to meet, network and discuss industry payment trends and hot topics. During this Corona Virus pandemic with travel bans and stay at home executive orders, group members need to stay connected with each other and stay on top on how this crisis is affecting their industries.
In a climate of uncertainty, getting back to the basics of good old-fashioned communication is keeping our groups grounded and in touch. Participating and exchanging information confirms the value of being a member of an industry credit group. â&#x2013;
Even though NACM Connect has cancelled all in person meetings until December 31, 2020, our groups are still meeting via conference calls, Zoom and TEAMS.
Member must the referring ation to press gift card, ir contact inform 0 American Ex $5 the e the vid for pro fy NACM er and an n mb * To quali joi 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
THE INTERCONNECTION
NOVEMBER / DECEMBER 2020
PAGE 23
Member News
elcomeres W emb New Members New M
Welcome New Members & Reps
American Burglary & Fire Inc. Veronica Cannon
NEW REPRESENTATIVES
Jonquille Lingard Interface Security Systems
American Foods Group Steve Molthen
Shayne Daws Aleris International, Inc. (Novelis/ Aleris)
Cisco Co. Beth Gramman
Matthew Stanfill Amcor Rigid Plastics USA, LLC
Vicky Cook Lanxess Corp.
CITCO Water Terry Hensley
Sharmaine Cooper Avery Dennison Label & Packaging
Darlene Korisko Lyman-Richey Corp.
FCC North America, Inc. Andrew Hill
Tiffanie Knapp Batteries & Bulbs Inc.
Ann England NFocus Consulting, Inc.
GE Current (a Daintree Company) Kelly Foley
Emily Fusco Big Dutchman Inc.
Cheryl Patterson Novelty Inc.
GEON Performance Solutions Dave Bilic
Michael Piccirillo C A Curtze Co.
Neeley Gilbert Owens Corning
GEON Performance Solutions Matthew Meyer
Luke Tourdot Caleres
Bridget Quinlan PPG Industries Inc.
Lakeshore Recycling Systems Inc. Denise Ragona
Kaleigh Lorsbach Caleres
Terry Gallien Quanex Building Products
Lexington Home Brands Ron Teglas
Kaleigh Lorsbach Campbell & Fetter Bank
Caroline McClellan Rich Products Corporation
NAGASE Specialty Materials NA LLC Kristin Falbo
Christy Griner Carboline Company
Annie Holland Rich Products Corporation
Eric Valdez Carboline Company
Stephanie Barber Rich Products Corporation
Chelsea Zemba Chelsea Building Products, Inc.
Clay Deye Tape Products Co.
The Chapin and Bangs Company Kimberly Bailardo
Harry Soose Jr. Civil and Environmental Consultants Inc.
Jamie Weiler Target-Specialty Products
Times Microwave Systems Ragib Noor
Automne Heather Coilplus Inc.
We Find Plants Jason Moore
Scott Carpenter Company Wrench, Ltd.
New Concepts Development Joel Shinbrooden Technipaq, Inc. Janette Bryant
Ken Fouty Fouty & Company Inc. Janet Linback French Gerleman
Suzan Corder JSW Steel USA Ohio Inc.
Robert Orme The Sherwin Williams Company Lisa Calabretta Upstate Niagara Cooperative, Inc. Brittany Beck Watlow Electric Manufacturing Co. Paul Kurjanski Wolters Kluwer
Jamie Dixon Gilmore Jasion Mahler, LTD
THE INTERCONNECTION
NOVEMBER / DECEMBER 2020
PAGE 24
Midwest Business Staffing
An NACM Connect Company
Need a Credit Professional?
Midwest Business Staffing is Your Solution
Finance Focused Staffing Our knowledge of the Credit, Collection and Finance industry and our thorough and hands-on approach to hiring is more specialized than other staffing agencies. Our goal is to reduce your hiring risks and time-to-hire as much as possible, while finding you the qualified candidates you want. Whether itâ&#x20AC;&#x2122;s direct-hire, temporary-to-hire or temporary staffing, Midwest Business Staffing connects top talent from entry to senior and executive level managers in the credit industry.
Dorann Guenard dorann.guenard@nacmconnect.org 847.483.6434
Midwest Business Staffing 3005 Tollview Drive Rolling Meadows, IL 60008
Follow us
Our placement fees are far below the industry average, and we guarantee our candidates will match your job criteria. Discover the difference a partner like Midwest Business Staffing can make and let us help you make an ideal match today!
Partner with Us Since 1993, Midwest Business Staffing clients have relied on our expertise to better understand their needs and to provide the best selection of qualified candidates. We offer a broad selection of employment verifications including: Criminal Record Checks, Drug and Alcohol screening, Education Verification, Social Security Number Tracing and more. All candidates are thoroughly interviewed in credit/collections and accounts receivable skills. Our credit industry expertise allows us to better assess candidate potential. Credit and Finance classes are offered at no charge to all temporary employees while they are on assignment through the NACM Connect Institute of Credit.
THE INTERCONNECTION
NOVEMBER / DECEMBER 2020
PAGE 25
Institute of Credit (IOC)
Institute of Credit
2020/2021 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 WINTER 2020 Basic Financial Accounting (10 weeks)
SPRING 2021
Thursdays January 7 – March 11
Business Credit Principles (10 weeks)
Mondays March 15 – May 17
Financial Statement Analysis I (10 weeks)
Thursdays March 18 – May 27*
CBF COURSES Business Law (12 weeks)
Wednesdays March 17 – June 2
* No Class on April 15 (Chicago Annual Meeting).
COURSE FEES Member – $450 (plus textbook fee**) Two coupons are valid per person.
Non-Member –$900 (plus textbook fee**)
**Additional rush charges may occur if registration is not submitted two weeks prior to start of class.
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
NOVEMBER / DECEMBER 2020
PAGE 26
Credit 101, 102, 103
2020: ILLINOIS Available through live videoconferencing 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
CURRICULUM
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 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
CREDIT 101, CREDIT 102, CREDIT 103 THE INTERCONNECTION
NOVEMBER / DECEMBER 2020
PAGE 27
Credit 101, 102, 103
Members: $230 (per class) Non-Members: $460 (per class) Two coupons are valid per person
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
October 7
CREDIT 102
CREDIT 103
November 11
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.
Register online at nacmconnect.org
THE INTERCONNECTION
NOVEMBER / DECEMBER 2020
PAGE 28
NACM Southwest Collections
NACM Southwest Collections
2020 Quarterly Giveaways
OCTOBER | NOVEMBER | DECEMBER
Place a collections claim with NACM Southwest anytime during the months of of October, November and December and become eligible to win a $150 Nordstrom 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 Kelly Hall at 317.225.4281. For more information visit www.nacmconnect.com
THE INTERCONNECTION
NOVEMBER / DECEMBER 2020
PAGE 29
Indiana
WEBINAR ZOOM MEETING INDIANA BEST PRACTICES DISCUSSION GROUP We understand that information in today’s credit world is vital. Participating in a Best Practices Discussion Group will provide you with credit-specific education, contacts in the local credit community and the opportunity to share ideas with fellow colleagues. About the Best Practices Discussion Group Unlike traditional credit groups, the NACM Connect Indiana Best Practices Discussion Group is not industry specific. Your entire company may attend each meeting including your associates, members of the credit department and even the CEO of your organization. Any NACM Connect member company is welcome to join the group. Each meeting will discuss best practices and no specific customers will be mentioned. About the Group Meetings Four times each year, the Best Practices Discussion Group will hold a roundtable discussion. Local meetings will be held in the Indianapolis, Indiana area. We will focus on various credit-related topics relevant to today’s business professional. NACM personnel, a member company or guest speaker will facilitate a lunch meeting.
Objectives of the Best Practices Discussion Group • Determine necessary improvements for your credit and/or accounting departments and organization.
Next Meeting Topic: PCI COMPLIANCE Presenter: Matt Fluegge FIS/Worldpay
Date: Thursday, November 19, 2020 11:30 a.m. - 1:00 p.m. EST Location: Webinar/Zoom Meeting For More Information or to Register: Please contact Kelly Hall at kelly.hall@nacmconnect.org or 317.225.4281
• Analyze how other organizations achieve high performance levels. • Use gathered information to enhance your company’s performance.
nacmconnect.org THE INTERCONNECTION
NOVEMBER / DECEMBER 2020
PAGE 30
Wisconsin
WEBINAR ZOOM MEETING EASTERN WISCONSIN BEST PRACTICES DISCUSSION GROUP We understand that information in today’s credit world is vital. Participating in a Best Practices Discussion Group will provide you with credit-specific education, contacts in the local credit community and the opportunity to share ideas with fellow colleagues.
Next Meeting Topic: Why Alerts Are Still Alive in the Credit Industry Today
About the Best Practices Discussion Group
Guest Presenter: Neil Cline (NACM Connect)
Unlike traditional credit groups, the NACM Connect Wisconsin Best Practices Discussion Group is not industry specific. Your entire company may attend each meeting including your associates, members of the credit department and even the CEO of your organization. Any NACM Connect member company is welcome to join the group. Each meeting will discuss best practices and no specific customers will be mentioned. About the Group Meetings Four times each year, the Best Practices Discussion Group will hold a roundtable discussion. Local meetings will be held in the Sheboygan/Kohler/Plymouth Manitowoc/Fond du Lac area. We will focus on various credit-related topics relevant to today’s business professional. NACM personnel, a member company or guest speaker will facilitate a lunch meeting.
Objectives of the Best Practices Discussion Group • Determine necessary improvements for your credit and/or accounting departments and organization.
Date: Wednesday, November 18 12 p.m. - 2:00 p.m. Location: Webinar/Zoom Meeting For More Information or to Register: Please contact Frank Schetski at frank.schetski@nacmconnect.org or 414.232.4565
• Analyze how other organizations achieve high performance levels. • Use gathered information to enhance your company’s performance.
nacmconnect.org THE INTERCONNECTION
NOVEMBER / DECEMBER 2020
PAGE 31
The InterConnection
800.935.NACM
Stay Connected