2017 Nov/Dec InterConnection Newsletter by NACM Connect

The InterConnection VOLUME 5

ISSUE 6

NOVEMBER/DECEMBER 2017

Customer Visits - A Valuable Tool for Any Credit Executive Want to improve payments, grow sales and build relationships? David Feigenbaum, CCE

ave you ever visited one of your customers? If the answer is “no” you’re not using one of the most valuable tools a Credit Executive has. There is no doubt that distance and travel expense are mitigating factors for many, but if you have a local customer base, or a few local customers from a more distant customer list, you should take the opportunity to visit. What is there to be learned from a customer visit? Customer visits can give you a view of your customer that

you never had before. The obvious first benefit is that you put a face with a name. Rarely do people appear as they sound on the phone and a new impression of the customer is almost always immediately derived from the first in-person encounter. A visit, usually in the company of the Salesperson, provides an up-close view of the customer and their business. A customer visit can serve many purposes and an agenda should be determined in advance. This is especially true if you don’t normally visit customers because it’s a good

bet your customer is asking “Why are they coming here?” If you’re visiting a slow paying customer to try to find out the reasons for the delinquencies, Sales should understand that there will be sensitive conversations taking place. It might be best if Sales sits in on the introductory part of the visit and any tour of the facilities but not Continued on page 4 >>

2017 Conference Update Lillian Novak, CGA

ith the NACM Central Region Conference held this year in St. Louis and the NACM Midwest Conference in Chicago under our belts, we are

looking forward to one more NACM Connect event in Indianapolis on November 15 & 16. The annual conferences are always the educational highlight of the year for many NACM Connect members with the opportunity to gain job-related knowledge, network with fellow members and learn what our Preferred Provider partners can offer to help make credit and collections a

more efficient operation for many companies. Our keynote speakers this year included historians, motivators and a former Navy Seal that shared what leadership lessons he learned during his time of service. And as always, economists were on hand to share the outlook of the local, national and world economies. The Robert Vodraska Scholarship Foundation will be the recipient of $4,669 from fundraising activities Continued on page 4 >>

2017-2018

Board of Directors CHAIRPERSON John Fahey, CCE Edward Don & Company VICE CHAIRPERSON Kurt Albright Uline, Inc. TREASURER Erica White, CCE Ferguson Enterprises DIRECTORS—TERMS ENDING 2018 Ed Cohen, MBA OMRON Automation Americas Larry Grogan, CCE BP Products North America Larry Lipschutz, CCE, CICP French Gerleman Patrick Nelson, MBA ACCO Michele Pancotto, CCE, CICP Wheels Clipper DIRECTORS—TERMS ENDING 2019 Mike Hill, CCE Mitek USA, Inc. David Sperduto, CCE VP Supply Corp. Rich Weiss, CBA Jaeckle Distributors Dave Zahller, CCE Tubular Steel DIRECTORS—TERMS ENDING 2020 Christine Culbreth ArcelorMittal International America Ed Stauber Wolters Kluwer Kevin Stinner, CCE, CCRA Crop Production Services Les Witrzek, CCE, CICP Kuriyama of America, Inc. PRESIDENT Phillip J. Lattanzio, CCE NACM/Chicago-Midwest SECRETARY Kerry Jensen, CPA NACM/Chicago-Midwest COUNCILOR Lawrence O'Brien, CCE, ICCE Potash Corporation

Editorial Staff

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

In This Issue Customer Visits - A Valuable Tool for any Credit Executive

2017 Conference Update

2017 Institute of Credit Class Schedules

Indiana Credit Conference

A Timely Course - How Classes Lead to Career Success

Dissecting the Website - Services Illinois Construction Stuff and Stuff

Caine & Weiner Giveaway WInners

Northern IL - Roundtable Discussion

Wisconsin - Roundtable Discussion

Missouri - Open House & Toy Drive

MO - Financial Statement Analysis I

Missouri - Roundtable Discussions

Michigan - Roundtable Discussions

Indiana - Roundtable Discussions

Ohio - Roundtable Discussions

Ohio - Business Credit Principles

Ohio - Roundtable Discussions

SAP Credit and A/R Users Group

2018 Insitute of Credit Class Schedule

Webinar: The Legal Environment of Credit - Part II

48 49

Credit Career Corner

Monitoring DSO Support Strategies for Collections and Controlling

Wisconsin Roundtable Meeting Photo Gallery

Welcome New Staff Member

Educating Customers About Credit

Thank you to our Sponsors and Silent Auction Donors

Missouri Credit Conference Photo Gallery

Webinar: 7 Proven Strategies for Reducing DSO and Improving Company Cash Flows

Illinois Credit Conference Photo Gallery

2017-2018 Advisory Board Members

Credit 101 Graduates

Credit Application Processing Service

Collections Giveaway Winners

Illinois Golf Outing Photo Gallery

Credit Group Meeting Calendars

Welcome New Members and Representatives

Caine & Weiner Announces Texas Office Expansion

NACM Connect Mission Statement

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

Vision Statement

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

Value Statement

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

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

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NOVEMBER/DECEMBER 2017

PAGE 2

Education Digest

Institue of Credit (IOC)

tart the process of earning your professional designation and register today for the NACM Connect Institute of Credit (IOC) Quarter for Winter of 2017/2018. If

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

CBA (Credit Business Associate) Course Schedule

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

Financial Statement Analysis I

Thursdays, 11/16 - 1/25

Creve Coeur, MO

Basic Financial Accounting Wednesdays, 12/6 - 2/21 Toledo, OH **Business Credit Principles **Financial Statement Analysis I

Mondays, 3/12 - 5/14

Rolling Meadows, IL

Thursdays, 3/15 - 5/17

Rolling Meadows, IL

CBF (Credit Business Fellow) Course Schedule

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

Business Law

Thursdays, 3/12 - 5/14

Rolling Meadows, IL

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

Exam Review Classes

Indiana

Exam Review Class Schedule (Exam Dates are Below)

November 15-16

All Exam Reviews can be done via Teleconference.

Review Class

Review Date

CBA

Tuesday, October 10

CBF

Tuesday, October 3

CCE

Wednesday, October 4

Book Today!

Exam Dates & Deadlines Application and Paperwork Deadlines

Exam Dates

Friday, January 26, 2018

Monday, March 5, 2018

Friday, April 20, 2018

Sunday, June 10, 2018

Friday, June 1, 2018

Monday, July 23, 2018

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

Webinar Topic

Date

Page

The Legal Environment of Credit - Part II

Nov 8

7 Proven Strategies for Reducing DSO and Improving Company Cash Flows

Dec 7

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NOVEMBER/DECEMBER 2017 PAGE 3

news

Customer Visits (cont'd) Continued from page 1 the financial aspect. The customer is the person who may make the decision for you. If the purpose of the visit is to meet a customer who is a growth target of Sales, the Salesperson is someone who can guide the conversation. This is not only your opportunity to help grow your company’s business, it’s a chance to make an ally of your Salesperson as they see how a professional Credit Executive understands all facets of the business and helps to increase volume while protecting one of your company’s largest assets. For those customers who are part of a large organization, visiting Accounts Payable may be the way to learn their system, have them understand yours and resolve unpaid items and deductions. And how many of you have considered visiting a prompt-paying customer to thank them for their business and their quick payments? Probably not many. But if you want to make a positive impression on a customer, that’s a good way to do it. How often does Credit, by any communications means, thank customers for paying promptly? To do it in person is something the customer won’t soon forget.

Here are some questions a visit can answer:

• Is your customer busy? • Are the phones ringing? • Are there trucks loading at the

docks to ship out their customers’ orders? • Are there empty desks of former employees who haven’t been replaced in cost-cutting measures? • Are the warehouse shelves bare except for some old, dead inventory? • Are the warehouse shelves too full, an indication of too much or slow moving inventory? • Does your customer look you in the eye when you discuss finances? These are a few of the possible subjects a visit can answer. For privately held customers who won’t share their financials with you long distance, this may be the opportunity to view them in private. Taking a customer out to lunch can take the formality out of the meeting and offer the opportunity for you to learn more about them and their business. For those of you who attend trade shows or NACM Connect Industry

Trade Group meetings (still the single best source of customer information anywhere), tie in customer visits. If you’re already traveling for your company, add an extra day in the field, it will pay for itself over the course of time. We’ve made numerous credit decisions that have been based, at least in part, on the information gained during customer visits. Those decisions have both helped avoid bad debts and increase sales. Customer visits are an excellent means of improving payments, growing sales and building relationships.

•

David Feigenbaum, CCE has been Director-Corporate Credit at Kichler Lighting, Cleveland, OH since 1999. A member of the credit profession since 1974, his prior experience includes tenures at Dun & Bradstreet, Westinghouse and General Electric. Since joining NACM in 1978, Mr. Feigenbaum has chaired the NACM Philadelphia Electrical Distributors Group, San Diego Credit’s National Fan & Lighting Group and is currently in his third term as Chairman of the NACM National Electrical Manufacturers’ Credit Group. He is a former member of the Board of Directors of NACM Greater Cleveland and has taught the NACM Business Credit Principles course. He was a nominee for the NACM CCE Designation of Excellence Award in 2017 and has presented at Credit Congress and numerous Regional NACM events.

2017 Conference Update (cont'd) Continued from page 1 held during the conference. Raffles, games of chance, a 50/50 and silent auctions were held to raise money for this important cause which helps to pay for the continuing education of credit professionals. With the NACM Great Lakes Conference still to go, we are looking forward to raising even more. A big thank you to all the members of

the Association that continually support the Foundation through donations to the Silent Auctions and the participation in fundraising activities. A special thank you goes out to Uline, The Chamberlain Group and Dun & Bradstreet whose annual donations are the primary source of our ability to offer spectacular prizes in our grand raffle.

THE INTERCONNECTION

Enjoy the pictorial recap of our events in this issue. And don’t forget next year’s conferences: September 18 & 19 in St. Louis, MO; October 17 & 18 in Rolling Meadows, IL; November 7 & 8 in Columbus, OH.

•

NOVEMBER/DECEMBER 2017

PAGE 4

NACM Connect

Are you selling to this customer?

I’ve got them on Credit hold.

Bob in their AP department always returns my calls.

They’ve always paid us within terms. We’ve sent that account to collections.

They took an unauthorized deduction on their last invoice.

Join this Industry Credit Group. Save time. Save money. Stay informed. Benefits of Industry Credit Group Membership: •

Exchange credit information on common customers.

•

Participate in discussions on accounts and delinquent account reports.

•

All Credit Groups are monitored by certified and trained NACM Connect administrators to insure compliance with Federal Antitrust Regulations.

•

Analyze relevant data to make unilateral credit decisions.

•

Expand your professional network.

•

Membership can more than pay for itself with one insightful decision.

NACM Connect www.nacmconnect.org 847.483.6400 info@nacmconnect.org

To learn more about joining an Industry Credit Group in your area contact Themis Vlahos at 847.483.6428 or email themis.vlahos@nacmconnect.org.

THE INTERCONNECTION

NOVEMBER/DECEMBER 2017 PAGE 5

Indiana Event

2017 NACM CONNECT credit conference

—·— Indianapolis, IN november 15-16 Great Lakes Region Conference

—·—

W e dn e s day - n ov e m b e r 1 5 8:15 – 9:15 a.m.

THE GOOD, THE BAD & THE UGLY - Opening Keynote Speaker: Jim Cali, CPA, CFF, CGMA, Director of Internal Audit, Bi-State Development Being A Leader with Intention Paul Lushin, Lushin & Associates

Electronic Transactions, Where The Click Is Mightier than the Pen Bruce Nathan, Lowenstein Sandler; Andrew Behlmann, Lowenstein Sandler

New Tools and Features of the National Trade Credit Report Phil Lattanzio, CCE, NACM Connect

Collection Conversation Kevin Stinner, CCE, CCRA, Crop Production Services

1:30 – 2:45 p.m.

Unclaimed Property Audits Today Kenneth Kovacevich, True Partners Consulting LLC

Is Your Ship Stranded at Sea? Demystifying Chapter 15 of the Bankruptcy Code and Recent Cross-Border Insolvency Developments Bruce Nathan, Lowenstein Sandler; Phil Gross, Lowenstein Sandler

3:15 – 4:30 p.m.

Credit Reporting – For Users by Users Judy Wagner, CCE, MBA, Roche Diagnostics; Julie Harvey, Conn-Selmer; Neal Bohannon, Irving Materials; Kyle Rich, Koorsen Fire & Safety

Preferences Thomas Fawkes and Brian Jackiw, Goldstein & McClintock

9:45 – 11:00 a.m.

11:30 a.m. – 12:30 p.m.

4:30 – 5:30 p.m.

Reception and Networking Event - Hosted by the Exhibitors

t h u r s day - n ov e m b e r 16 Toot Your Own Horn - Elevating the Credit Department Phil Lattanzio, CCE, NACM Connect

NACM National Update Robin Schauseil, NACM; Chris Ring, NACM

User Friendly Cash Flow Susan Thomas, CCE, Eli Lilly & Co.

Why is Mentoring Important? Susan St. Angelo, My Trusted Partner

1:00 – 2:15 p.m.

Coloring your Success - Power of Persuasion Diana Crowe, IAB Inc.

Alternatives to Bankruptcy Jonathan Sundheimer, Barnes and Thornburg

2:15 – 3:30 p.m.

ECONOMIC UPDATE - Closing Keynote Speaker: JOHN V. DUCA, Federal Reserve Bank of Dallas

8:30 – 9:45 a.m.

10:15 – 11:30 a.m.

3:30 – 4:30 p.m.

Networking Hour - Open Bar & Silent Auction Wrap-up

Conference registration and details at www.nacmconnect.org To opt out of further faxes contact susan.rooney@nacmconnect.org THE INTERCONNECTION

NOVEMBER/DECEMBER 2017

PAGE 6

news

A Timely Course On the job training lead to classes which lead to honing skills and career success! Kathy Antione, CCE

love a fun joke and a friend recently shared this one with me. What did the Leaning Tower of Pisa say to Big Ben? If you have the time, I have the inclination. Okay, groan and we'll move on. How does this relate to credit you ask? I was in a role earlier in my career that required both collections and financial statement analysis skills. I remember learning about the financial ratios the company was using to help determine creditworthiness and risk of their customer portfolio like the Debt-to-Equity ratio. Then learning how to calculate the Cash Conversion Cycle to determine if it was likely the

customer would be paying within the terms granted. My supervisor at the time encouraged me to take a course to deepen my understanding of financial statement analysis. I signed up for the NACM Connect’s 10-week Financial Statement Analysis I course. I remember my NACM Connect instructor, Larry Grogan, and how passionate he was on the topic and all the resources and knowledge he brought to the class. I left the class able to apply some of what I had been learning in class to my role and wanting to apply more. I still hear Larry teaching us to create a Cash Flow statement using an income statement and two balance sheets. He would say “start with Net Income and add back the non-cash items like depreciation”. I have continued to hone my financial statement analysis skills by entering thousands of financials and establishing a risk rating for each

customer at another company. Now I am eight months into a new role as a Senior Financial Analyst at US Foods. I am getting to dig deeper into financials and yes, I still hear that voice in my head when I am creating cash flow statement for customers that don’t provide them. “Start with Net Income and then add back non-cash items like deprecation.” I still remember his teaching us about sources and uses of cash when I am creating a Cash Flow statement from two income statements and a balance sheet too. What course are you thinking about taking at NACM Connect? Can you make the time? You never know how a course could spark your interest and propel your career forward if you have the inclination.

•

Dissecting the Website: Services Learn more about what's available on the NACM Connect website. Lillian Novak, CGA

embers always seemed surprised by the number of products and services available through NACM Connect. Of course, there are the big ones like education, group services and credit reporting solutions.

But we also offer a number of services that are less known and that might help you save time and money in your department. The Services link on the website’s ribbon can help you get acquainted with some of these services. You can find information there on our Credit Application Processing Service and Credit References. Or any of our Membership Consultants can help explain those services to you. There is also information on how to get preferred rates on credit card

THE INTERCONNECTION

processing, what free benefits come along with providing you with your trade data – and how those benefits can help you manage your portfolio, and on National’s Credit Manager’s Index. Don’t forget to take some time to browse the website to learn more about how we are here to help. Or contact your Membership Consultant if you would like an in-person visit for a guided tour.

•

NOVEMBER/DECEMBER 2017 PAGE 7

nacm connect

ORDER FORM

The Illinois Mechanics Lien Law Statutes ...and other construction stuff

For over a decade Norm Cowie, CCE, has been writing an award-winning column for the NACM Connect newsletter, the InterConnection. His column breaks down, in his humorist fashion, the This seminar is designed as an interactive and informative forby Credit Illinois Lienprogram Act section section, professionals. making it far moreinteraction easy to comprehend for non-legal This is a dynamic and relevant event that includes group and case studies tominds. ensure

maximum program retention. Benefits include improved cash flow, increased profits, improved He topics has alsowill included in his column situations that customer interactions and increased sales. The following be discussed in this program:

arise in a typical credit department of a company related to the construction field, and in most cases in any typical credit department. For the first time, these articles have been accumulated into a book that we are pleased to offer at the member price of $29.95 plus S&H. Besides a great, funny read, this book will serve as a must-have reference guide to the often difficult-tointerpret Illinois Mechanics Lien Act.

QUANTITY ($29.95 each) ADD $4.95 S&H

$4.95

TOTAL:

BOOK ORDER INORMATION Name____________________________________________________________________________________________________________ Company___________________________________________Address________________________________________________________ City___________________________________________________ State __________________ Zip_________________________________ Phone ________________________ Fax _________________________ Email ________________________________________________ Mobile ___________________________________________________________________ Do you accept text messages?

Yes No

Payment Information   

Check enclosed—(payable to NACM Connect) mail to: 3005 Tollview Drive, Rolling Meadows, IL 60008 Credit card—Pay by phone upon receipt of invoice: 1.800.935.6226 Please invoice me. Questions? Contact Lillian Novak at lillian.novak@nacmconnect.org or call 847.483.6478

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

NOVEMBER/DECEMBER 2017

PAGE 8

News

Illinois Construction Stuff and Stuff Norm Cowie, CCE

e got scammed. One of those credit card things.

Worse, a phone order credit card scam. A preventable one, if only our rules had been followed. A dude, no, not a dude … a slug … one evolved from vomit and explosive diarrhea, calls one of our employees on a particularly inattentive day, and asks for a large shipment of wire. Wire, in case you didn’t know it, is most often made from copper and a nonconducting jacket to keep the copper warm. And copper has two primary uses, one, to conduct electricity, and two, to be stolen to be melted down to sell to someone to make wire to conduct electricity. And no, no, no, I don’t want to hear anything about pennies. They aren’t copper. They are made from zinc, with just a bit of a copper covering, and haven’t been made from copper since 1857, when they were mostly copper and part nickel. Yes, you read that right, a penny used to be made of nickel. A nickel, of course, is made out of nickel and copper, and has more copper than a penny. I could go on, but for your sake I won’t. Anyway, said slime-ball calls our not-veryaware salesperson, and asks him to send a bunch (defined as more than I want to think about) to a not-so-very-nice suburb of Chicago. And he offers to pay with a credit card.

everyone in our company (not excluding said salesperson) … in January 2016, May 2016, December 2016, and most recently in May 2017 along with a fun anecdote about how someone burned one of our competitors with a similar scam. In other words, pretty often. A rule is only as good as the employees who follow the rules, so I guess this rule wasn’t good enough, because said employee went ahead and shipped the order. The slimy vomit diarrhea slug was so happy he called again and ordered more wire. The same day. And I guess he was so excited we shipped the first one that this time he sent some of his bug-eating Renfields in to pick up the wire before we caught onto his nefarious evil-doings. And he paid over the phone again. I know what you’re thinking. We were geniuses, right? Sucking them into our store so we could apprehend the henchmen, and then get them to turn on the evil villain. I wish. Instead, two grunts came into our store, we helped them load more expensive wire into their vehicle, and cackling madly they took off with our wire.

With someone else’s credit card.

Did we check their identities? Nope. Did we demand that they card-swipe while they were physically in the building? Nah. Did we ask to see the credit card? Of course not.

Who is not from our state.

Do our policies say to do all of this? Yep.

Over the phone.

The story doesn’t end here, because they did it five more times over the course of three days.

Now our policies are pretty explicit about all of this, and here for your reading pleasure is our policy on this particular practice. “You can’t do this.” You read that right, our policy is that we won’t accept such a charge. And to be clear about it, our friendly neighborhood credit manager (me) sent this policy to

You know what happened on the sixth time? They got a different salesperson, one who knew the rules, and this guy alertly called our resident credit manager, and this time the sales didn’t go down. Neither did a sting. We called the police

THE INTERCONNECTION

for help, and asked them if they would do a sting to catch our slug, but they said they couldn’t help unless the stakeout was near a donut shop. They wished us well anyway and complimented us on the procedure we had that our salesperson didn’t follow, and agreed it would have stopped it cold had it been followed. But they did have one very helpful suggestion that might help prevent a phone order credit card scam - They said to ask the person attempting to charge the name of bank issuing the credit card. If the slug only stole the number but don’t have the physical card, he may not know what bank issued the card. Then Google one of the many websites that will validate Bin Codes, many for free, and enter the number. If the bank matches, it’s either valid, or the crook guessed the correct bank, or the crook has the physical card, or the crook knows about Bin Codes and already checked it out himself. Otherwise, make a strong policy and make sure your sales staff follows it. (*Almost all of my previous articles are available in my new book, THE ILLINOIS MECHANICS LIEN STATUTES … AND OTHER CONSTRUCTION STUFF available at NACM Connect!)

•

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 w w w. n o r m c o w i e . c o m w h i c h f e a t u r e s p a s t NACM Connect articles.

NOVEMBER/DECEMBER 2017 PAGE 9

Midwest Business Staffing

Credit Career Corner | New Opportunities

www.nacmmidweststaffing.com Job #

Title

Location

772

Cash Application Representative

Naperville, IL

• Apply all remittances and charge-backs accurately and in a timely manner. • Create Accounts Receivable General Ledger transactions. • Identify or deny unknown charge-backs. 776

Collections Specialist

Deerfield, IL

• Review aging of assigned portfolio of approximately 800 accounts with credit limits < $25k. • Identify high risk / delinquent accounts and initiate collection action, including but not limited to placing

orders on hold and contacting customer for payment via email, fax, and/or phone, documenting customer contact and collection actions taken in the accounts receivable system and physical file as needed. • Make recommendations on accounts receivable reserve for accounts within assigned portfolio. 775

Credit Manager

St. Louis, MO

• Manage a clerical staff that includes a receivables clerk and a collection clerk. Oversee the receivable

and collection processes, which include cash receipts, weekly COD preparation and calls, recording of postmarks, and late payment fee credits. • Be responsible for the collection of delinquent accounts. Ability to negotiate terms of customers with special circumstances as well as capability of temporarily suspending deliveries. Negotiate and push ACH Debit terms for all customers.

Contact Leslie Harrison, leslie.harrison@nacmconnect.org Paula Carruth, paula.carruth@nacmconnect.org Monika Howard, monika.howard@nacmconnect.org

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

- Audrey Hepburn

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

THE INTERCONNECTION

NOVEMBER/DECEMBER 2017

PAGE 10

News

Monitoring DSO Support Strategies for Collections and Controlling Matthew M. Meyer CCE

SO represents days sales outstanding, which can be calculated many different ways. The basic concept is to determine how long it takes to collect an invoice over a period of fiscal measuring periods; monthly, quarterly or annually. The math divides the receivables by the sales by the period. We use a rolling three-month calculation. My company takes the current month’s receivables, dividing it by another formula adding up the last three months of sales divided by 90 days. Our consolidated goal across 3 companies is 45 days. Example: (50,000,000 / ((40,000,000+41,000,00 0+42,000,000)/90) = 36.59 DSO management gets tricky when you consider the nuances of varying terms offered, cash flow expectations, shipping variances (domestic and foreign), customer payments scheduled, invoicing processes and collections and profit retention. DSO helps you forecast incoming payment receipts in a general way over the course of a month. When your company borrows money for various expenses, DSO allows for your accounting team to figure out how much carrying a receivable over the average of approved terms will cost you. The cost of money provides your sales team a gauge for determining if the profit margin expected for a given customer stands strong even after the cost of money is in play when approving extended terms or tolerating a longer than preferred collection period. After determining how much carrying a receivable will cost your company, deciding if the value is supported by profit retention, the

accounting team can forecast how much profit the company will earn. There are many ways to achieve optimum DSO’s but it takes teamwork between all parts of your company; sales, accounting, credit, collections and customer service. Sales needs to clearly communicate contractual agreements among the extended team to vet if the agreement will stand up to profits expected and cost of money. If the sales team balances the benefits of expected sales supported by extended terms of sales offers, taking into consider how much money they want to earn vs how much money they’ll have to spend, they will have a better idea if they should make that deal. The accounting team supports the sales team by providing visibility to expected profit measuring the cost of the time it will take to carry a sale receivable until it gets paid. The sales team can grow their business in accordance with profit expectations as measured in the balance sheet. Nuances abound in deference and guidelines to support the sales team when communicating requirements for terms approval and adherence. All the departmental teams want to grow

THE INTERCONNECTION

the business but they also want it to be profitable. Predicting cash flow well allows a company to forecast how they will use their money, repay debt, and/or potentially take on more debt. It’s a complex business forecasting cash using accounting models, history over previous years and the seasonality of funds outstanding. A solid DSO goal aligned with historical results, provides a forecast model for how much cash in receipts will come in over a months’ time. Customers have a myriad of ways to receive invoices, schedule payments and determine a starting date for when the clock starts ticking to schedule their payment. Customer service, cash credit and collections can optimize processes using supplier websites submitting invoices for payment, provide copies, log payment inquiries and often get remittance Continued on page 13 >> NOVEMBER/DECEMBER 2017 PAGE 11

nacm connect

The clock is ticking. Secure your receivables with UCC filings.

99 Cents Only Stores Bon-Ton Stores

Nine West Holdings

Charming Charlie

NYDJ Apparel

Chinos Intermediate Holdings (J Crew)

Payless

Claire's Stores

Sears Holdings

David's Bridal

Toms Shoes

Evergreen AcqCo (Saver's)

Tops Holding II

Fairway Group Holdings

True Religion

Gymboree

Velocity Pooling Vehicle

rue21

Indra Holdings Corp (Totes)

19 distressed retailers have over $3.7 billion in debt maturing over the next 5 years. The number of retailers filing for Chapter 11 bankruptcy protection is headed toward its highest annual tally since the Great Recession.

It’s never been more important to be a secured creditor. Contact NCS to develop a UCC program that's right for you! ®

Securing Your Tomorrow ®

NCScredit.com 800.826.5256 NCSsales@NCScredit.com

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

NOVEMBER/DECEMBER 2017

PAGE 12

news

detail. Emailing and mailing invoices are common but effective only if the invoices are being routed to the correct recipient(s) who will enter the invoice into their system and schedule the invoice within approved and agreed upon terms of sale. Customers who have strict schedules for processing payments should be reminded to enter invoices for payment providing sufficient lead time submitting

“

problem with the invoice, contact the customer and agree on resolution. Collection departments should regularly update their agings and quickly contact all customers with past due invoices. Collection attempts can include emailing the appropriate contact, calling Accounts Payable or checking customer supplier websites. Pricing disputes and terms pushback surface quickly when a customer is contacted early, or in collection terms,

There are many ways to achieve optimum DSO’s but it takes teamwork between all parts of your company...

payments so receipt can be confirmed within the terms approved. ACH and wire payments are the most efficient ways to transmit, receive and track payments allowing a customer to wait until the due date of the invoice. Customers who mail checks should be reminded to mail their payment with a couple days buffer to get it there in time. Efficient processes to distribute invoices in accordance with customers’ requirements is complex, diverse and essential. Often customers with longer shipping times will start their schedule in accordance to agreed upon terms of sale, on the day they receive their invoice copy. When your collection department knows the parameters required by those customers – their shipping times and payment schedules, they can decide if they wish to provide some latitude when requiring payment within terms or provide a grace period. Cash application is a great process to assist in determining how closely a customer is meeting the payment requirements agreed to. When applying cash, it is often easy to notice when invoices have fallen past due. A quick note can be sent to the collection department to determine if there is a

when they are 1 – 30 days past due. Remember, although an invoice might be 1 – 30 days past due, if extended terms have been approved the actual invoice can be much older. The longer that receivable is carried the more it affects DSO results, cost of money and value through profit retention. It is not uncommon to discover an invoice is billed at standard terms but the customer is under the impression they have a longer period to pay. This dispute can be settled easily enough. The collection team will need to collaborate with the sales team to establish the terms they agreed to and if the customer fits the credit criteria to approve extended terms when requested. If your system will support the analysis it is helpful to run individual account DSO reporting. Knowing how customers trend in payment habits help structure your game plan when trying to subtly bring customers closer to their terms of sale agreements.

your receivables in the various terms in their approved categories. This review supports cash forecasting but also provides visibility for credit to ask sales for support on why certain customers have longer terms. Sometimes it is inevitable a customer is approved with longer terms. For other accounts, however, appropriate terms can be updated to reflect the business arrangement you are currently in vs the outdated agreement when the account was created which were often under different circumstances and expectations. Benchmarking against Best Possible DSO provides a realistic comparison assisting in determining what your goal should be. DSO is a report card for the financial health of a company and the results achieved by several departments, notably, cash, credit, collections and customer service. DSO results also provides an outline how to manage receivables introducing efficient and effective processes supported by your ERP systems. Collaborating between sales, credit and accounting allows the team to agree on how to move forward. DSO reflects how well expectations are communicated to sales departments and customers supporting growth of the business while adding value through profit retention. Matt Meyer is a Credit, Collection and Cash Manager @ Valtris Specialty Chemicals, Independence, Ohio

•

A regular analysis of your aging by individual accounts specific to terms of sale will provide visibility to how far out your receivables are scheduled prior to payment. Even more importantly this analysis shows the percentage of

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NOVEMBER/DECEMBER 2017 PAGE 13

NACM connect

The Staff Bonus that Pays for Itself. This holiday season, reward your staff members with the empowerment of membership in NACM Connect!

Limited Time Offer

2 Years For the Price oF 1

November 1 - December 31

For each staff member that becomes an Associate Member of NACM Connect the benefits received will outweigh the cost of membership: • Two Years for the Price of One for each Associate signed up during this period* • Additional coupons to use toward NACM Connect products and services per Associate* • Three free credit reports from the National Trade Credit Report database per Associate

($45 value)

For more information on how to take advantage of this offer, please contact your local Membership Consultant.

Leslie Harrison Illinois

847.483.6485

leslie.harrison@nacmconnect.org

Frank Schetski l 414.232.4565 l frank.schetski@nacmconnect.org Wisconsin, Nebraska and Northern Illinois Forest Troutner Indiana, Ohio Mike Dennis Michigan

847.483.6411

248.607.6786

Jim Hugo l 440.658.3114 Ohio - Cleveland Rochelle Wilson Missouri

forest.troutner@nacmconnect.org

mike.dennis@nacmconnect.org

jim.hugo@nacmconnect.org

314.677.2803

Todd Fierstein l 716.839.1200 Upstate New York

rochelle.wilson@nacmconnect.org

todd.fierstein@nacmconnect.org

*Price and additional coupons vary depending on number of Associate Members. Two years for the price of one promotion applies only to new Associate Memberships.

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NOVEMBER/DECEMBER 2017

PAGE 14

wisconsin event

Roundtable Discussion Meetings In Wisconsin Frank Schetski, CGA

he Wisconsin membership held two Roundtable discussion meetings in October. The first was "Negotiation Skills for the Credit Professional", with Moderator Brad Robinson from Caine & Weiner. Brad also moderated another roundtable meeting in Elkhart Lake with the

credit professionals "Best Practices" discussion group. Visit the association website at www. nacmconnect.org to see the upcoming November roundtable discussion meeting schedule. Meetings are scheduled in Fox Valley, Milwaukee

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and Madison. Upcoming discussion topics include, " The Customer From Hell! How to Deal With the Worst of the Worst" and " Credit Card Surcharging 2.0 - Managing Your Program". Check out the dates and topics and register today.

â&#x20AC;˘

NOVEMBER/DECEMBER 2017 PAGE 15

news

ACM Connect is happy to introduce to you our new Membership Consultant, Mike Dennis. Mike will be responsible for membership sales and group services in Michigan and the Toledo area. He is located in Clinton Township, MI and comes to NACM with over 25 years of sales and operations experience. Mike spent 17 years in the sales division for an automotive supplier to the engineering and design divisions of the big three as well as the technical and design segments of the educational environment. Mike also has vast experience in non-profit and commercial facility

MIKE DENNIS

Welcome New Staff Member operations management. Mike Dennis can be reached in his office at 248.607.6786 and by email at mike.dennis@nacmconnect.org.

â&#x20AC;˘

Mike Dennis, Membership Consultant for the state of Michigan and the Toledo area of Ohio. Reach him at mike.dennis@nacmconnect.org or 248.607.6786.

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NOVEMBER/DECEMBER 2017

PAGE 16

news

Educating Customers About Credit Michael Miller, Editorial Associate

Helping educate your customer ultimately helps you.

large majority of consumers in the United States are credit card holders. In 2015, the Federal Reserve reported 70% of U.S. consumers had at least one credit card, meaning roughly 174 million people were credit-active. With these types of numbers it would seem it’s the norm to charge it, yet this could not be further from the truth in business credit. “It’s a privilege to have credit,” said Graybar Electric Company Financial Manager Rick Weisman, CCE. This is his No. 1 takeaway when trying to educate his customers about what he does for them as a credit professional. “It works as a partnership,” he added. Weisman is used to dealing in good faith with customers since he is typically unsecured as a supplier on a project. Education is a great tool and can help during the most common scenarios in the credit industry. In the end, if you extend credit, you are expecting to be repaid. One way to move this process along is to help your customers get paid. “It’s important to help them with best practices to ensure they protect their own accounts receivable,” said Weisman. Since he doesn’t want to step on any toes and tell his customers how to do business, he asks questions first about their processes. “Is there a person assigned to collect A/R such as a bookkeeper? A/R is the lifeblood of a company, so I’ll usually ask the owner about this and if there is any training involved.” “Collections is the biggest topic of concern with customers,” said Crop Production Services Credit Manager

Kevin Stinner, CCE, CCRA. Many of his customers do not know how to collect money or have the education and training for modern credit. This is where Days Sales Outstanding (DSO) becomes a problem. Some of Stinner’s wholesale customers are facing year-

“

implementing the credit application as part of their daily business activities. If his customers are not getting paid, Stinner will also refer them to collection agencies that are reputable and not unreliable.

It’s a privilege to have credit. In the end, if you extend credit, you are expecting to be repaid.

over-year changes of 20 days. “The end of the year is when DSO should be at its lowest in agriculture,” he added. It is important to help your customer generate income so this money will eventually return to you to pay off the debt. If Weisman’s customer isn’t getting paid, he usually assists with this by helping with lien and bond claims. This is a “best practice” to help payments flow downstream. Unfortunately, Weisman said, not all his customers take this route. Some don’t want to jeopardize their relationship with the general contractor or hurt their chances at future employment. “This is a cautionary tale of how to do business,” said Weisman. “This is not the best way to work—it’s a death sentence.”

In agriculture there is no mechanic’s lien, so Stinner assists his customers with an agriculture security agreement and financing statements. He also wants his customers to have better cash terms to make their relationship a win-win. Weisman will also educate his customers on contract terms and conditions as well as payment terms. Other items of interest Weisman reveals to his customers include what competitors are doing and certain trends in the industry. Educating customers about potential fraud is a major point he tries to get across to customers, as well.

•

Stinner is also shocked that so many of his customers do not have a credit application for their customers. Most large companies have applications, yet Stinner works with smaller, independent businesses that do not follow this practice. “Having a credit application is important when it is time for collections,” said Stinner. He is trying to educate his customers to start

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NOVEMBER/DECEMBER 2017 PAGE 17

nacm connect

thank you for your support! NACM Connect would like to show our appreciation to the Silent Auction donors and Conference Sponsors for their contributions in making our conferences a success!

Sponsor s NACM Southwest • Caine & Weiner • Dun & Bradstreet • NACM Secured Transactions • UTA Vantiv • IAB • Midwest Business Staffing • National Trade Credit Report (NTCR) • Equifax

Silent Auction Donor s

· ·

ACCO ALL Erection & Crane Rental Audio Technica Crescent Electric Dun & Bradstreet Funko, LLC Ginsey Home Solutions Guardian Industries Helen of Troy, L.P./OXO John Jaeger, CCE Judy Wagner, CCE Klein Tools, Inc. Laura Harper M-D Building Products Michelle Pancotto, CCE Midwest Business Staffing MiTek USA, Inc. NACM Connect NACM National Outlook Group Primex Family of Companies Progessive International Shop-Vac Spirit of Chicago The Chamberlain Group Uline Uniek, Inc Wilton Industries Wooster Brush Zidian

· ·

· · · ·

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NOVEMBER/DECEMBER 2017

PAGE 18

missouri event

NACM Missouri Credit Conference

SEPTEMBER 12 &13

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NOVEMBER/DECEMBER 2017 PAGE 19

illinois event

NACM Connect Credit Conference

OCTOBER 18 & 19

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NOVEMBER/DECEMBER 2017

PAGE 20

illinois event

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NOVEMBER/DECEMBER 2017 PAGE 21

nacm connect

We Have the Solution!

NACM Connect provides a full suite of credit information solutions throughout the customer life cycle. Our service is offered exclusively to members at discounted prices. Additionally, we will assist you with setup, training and continued support for all of our products and solutions. Our credit information solutions will help you increase efficiency, reduce costs and maximize profitability for your organization.

NACM Connect Credit Solutions

• Hundreds of companies buying credit reports through NACM Connect • Substantially reduced pricing due to NACM Connect’s National Buying Discount • Flexible payment methods, Deposit Accounts, Subscriptions, Pay As You Go • 125 years of experience helping members improve credit decisions • US Domestic, International and Consumer Credit Information • Revenues go to NACM Connect to help fund Education, Groups and Networking programs • Credit decisioning and Portfolio Account Management Tools available • CRM / Salesforce.com system data integration • Credit Application Processing and Collections Services Available • Support your NACM Connect Association

Compare Information from Several Credit Bureaus with Only One Contact Preferred Providers Program

Domestic Business Reports

International Business Reports

Dun & Bradstreet

Equifax

Experian

NACM National Trade Credit Report

Company

OneCreditSource.com Skyminder

Consumer Reports/ Employment Screening

FCIB

Equifax Canada

Get Started Today!

Call Craig Smith today at 847.483.6484 or email craig.smith@nacmconnect.org to learn more about our credit reporting solutions. Be sure to ask about our FREE trial offers.

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NOVEMBER/DECEMBER 2017

PAGE 22

news

OCTOBER 4

Fall 2017: Credit 101 Graduates!

Incoming Chairperson of the NACM Chicago/Midwest Board of Directors, Larry O'Brien, CCE, ICCE

From left: Kimberly Burns (Leeco Steel); Shaakira Grant (LaSalle Systems Leasing, Inc.); Heidi Vega (Hu-Friedy Manufacturing); Ewelina Kaga (Hu-Friedy Manufacturing); Instructor Rich Bellis, CCE; Amy Pyzdrowski (VanDrunen Farms); Gekeetah Williams (Transcendia, Inc.); Adriana Tamburello (Transcendia, Inc.); Oralia Huizar (Echo, Inc.); Dee Serritella (Crescent Electric Supply Co.)

NACM Southwest Collections Quarterly Giveaway Winner

ongratulations to the Jul-AugSept winner of the NACM Southwest Collections and NACM Connect Quarterly Giveaways.

The winner for the Great Lakes Region is listed below. The next giveaway is a $150 Zappo's gift card. Each claim you place with NACM Southwest Collections

during this quarter will be eligible for one entry into the drawing. Please support this important partner!

â&#x20AC;¢

July-August-September Winner $150 Coach Gift Card

Venita Stoker, Aireconomics

October-November-December Giveaway

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NOVEMBER/DECEMBER 2017 PAGE 23

nacm connect

We have you covered:

B2BLifecycle Start to Finish

Prospecting

Capture more customers with business marketing and prospecting tools.

Acquisitions

Acquire the right customers with business acquisition products.

Management

Grow, monitor and retain business credit accounts with portfolio management tools.

Collections

Improve delinquency returns with business collections management tools.

Experian’s Business Information Services is a leader in business data and predictive insights. To schedule a demonstration or trial of Experian’s BusinessIQSM platform, please contact your NACM Connect sales representative. BusinessIQ has comprehensive business credit tools that let you manage your entire portfolio — from the time a credit application is received through the collection of delinquent accounts. © 2017 Experian Information Solutions, Inc. • All rights reserved. Experian and the Experian marks used herein are service marks or registered trademarks of Experian Information Solutions, Inc. Other product and company names mentioned herein are the property of their respective owners.

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www.experian.com/b2b

NOVEMBER/DECEMBER 2017

PAGE 24

illinois event

NACM Connect Fall Golf Outing

SEPTEMBER 22

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NOVEMBER/DECEMBER 2017 PAGE 25

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

GROUP

MEETING LOCATION

November 9

Northern Illinois Heating & Plumbing Wholesalers Credit Group

Ditka's, Oakbrook Terrace, IL

November 14

Electrical Distributors Credit Group

Ditka's, Oakbrook Terrace, IL

Metal Distributors Credit Group

Ditka's, Oakbrook Terrace, IL

November 15

Institutional Credit Association Credit Group

Ditka's, Oakbrook Terrace, IL

November 16

Ad Media Credit Group

Cumulus Media, Chicago, IL

Basic Material Credit Group

Ditka's, Oakbrook Terrace, IL

WISCA Credit Group

Devon, Oakbrook Terrace, IL

December 8

Electrical Distributors Credit Group

Bob Chinn's, Wheeling, IL

December 12

Metal Distributors Credit Group

Ditka's, Oakbrook Center, IL

Masonry Credit Group

Parker's, Downers Grove, IL

December 14

Northern Illinois Heating & Plumbing Wholesalers Credit Group

Wildfire, OakBrook. IL

December 19

Floor Covering & Wall Tile Credit Group

NACM Connect, Rolling Meadows, IL

December 21

Ad Media Credit Group

Osteria Via Stato, Chicago, IL

NACM Connect National Industry Credit Group Meetings November 7

National Home Centers Credit Group

Marriott Hollywood Beach, Hollywood, FL, 2-day

November 9

National Electrical Manufacturers Credit Group

Embassy Suites Atlanta, Atlanta (Buckhead), GA, 2-day

November 9

National Suppliers to Window Manufacturers Credit Group

AC Hotel, Liberty Township, OH, 2-day

November 9

National Consumer Products Credit Group

Marriott Hollywood Beach, Hollywood, FL, 2-day

November 9

National Circuit Board Credit Group

Flamingo, Las Vegas, NV

November 16

National Manufactured Housing Credit Group

The Mission Inn, Riverside, CA

November 16

National Steel Mill Credit Group

Paris Hotel, Las Vegas, NV, 2-day

December 5

National Agricultural Credit Conference

Edison Hotel, New York, NY, 2-day

December 8

National Paper Packaging Credit Group

Menger Hotel, San Antonio, TX, 2-day

December 11

National Metal Producers Credit Group

Hotel of South Beach, Miami Beach, FL, 2-day

December 14

National Underground Utilities Supply Credit Group

Embassy Suites Jamaican Court, Orlando, FL, 2-day

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NOVEMBER/DECEMBER 2017

PAGE 26

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

GROUP

MEETING LOCATION

November 2

Lumber & Building Materials Credit Group

Pietro's, Grand Rapids, MI

November 2

Michiana Credit Association Credit Group

Luchesse's, Elkhart, IN

November 8

West Michigan Heating & Plumbing Wholesalers Credit Group

Brann's, Wyoming, MI

November 9

Indiana Wholesale Floor Covering Credit Group

Conference Call

November 9

Columbus Wholesale Electric Supply Credit Group

McNaughton-McKay Conference Room, OH

November 13

Indianapolis Building Trade Suppliers Credit Group

Blueberry Hill, Indianapolis, IN

November 14

Electric Industrial Supply Credit Group

Main Street Pub, Kalamazoo, MI

November 15

Michigan Electric Supply Credit Group

Antonio's, Canton, MI

Cincinnati Construction Suppliers Credit Group

Stonecreek Dining Company, West Chester, OH

Metal Service Center Credit Group

Antonio's, Canton, MI

Cincinnati Dayton Wholesale Electric Credit Group

Century Inn, Cincinnati, OH

November 17

Fort Wayne Building Materials Credit Group

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

November 21

Indiana Electrical Suppliers Credit Group

Becker Conference Room, Indianapolis, IN

Automotive Suppliers Credit Group

Conference Call

Plumbing & Heating Wholesalers Credit Group

Conference Call

Cleveland/Akron/Canton Food Suppliers Credit Group

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

December 12

Electric Industrial Supply Credit Group

Bonnie's Place

December 13

West Michigan Heating & Plumbing Wholesalers Credit Group

Brann's, Wyoming, MI

December 14

Michiana Credit Association Credit Group

Luchesse's, Elkhart, IN

Columbus Wholesale Electric Supply Credit Group

McNaughton-McKay Conference Room, OH

December 15

Fort Wayne Building Materials Credit Group

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

December 19

Indiana Electrical Suppliers Credit Group

Becker Conference Room, Indianapolis, IN

Automotive Suppliers Credit Group

Conference Call

December 20

Indianapolis Building Trade Suppliers Credit Group

Blueberry Hill, Indianapolis, IN

December 21

Cincinnati Dayton Wholesale Electric Credit Group

Montgomery Inn - Boathouse

December 27

Plumbing & Heating Wholesalers Credit Group

Conference Call

Cincinnati Construction Suppliers Credit Group

Information exchange only

Cleveland/Akron/Canton Food Suppliers Credit Group

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

November 16

November 22

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NOVEMBER/DECEMBER 2017 PAGE 27

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

GROUP

MEETING LOCATION

November 15

Electrical Distributors Credit Group

Bartolino's, St.Louis, MO

November 17

Refrigeration & Warm/Cool Air Suppliers Credit Group

Bartolino's, St.Louis, MO

November 21

Midwest Regional Food Credit Group

NACM Misoouri Office, Creve Coeur, MO

November 29

Agriculture Credit Group

Il Bel Lago, Creve Coeur, MO

December 1

Mid Missouri Construction Credit Group

Addison's, Columbia, MO

December 6

Agricultural Credit Group

Bartolino's, St.Louis, MO

December 13

Electrical Distributors Credit Group

Bartolino's, St.Louis, MO

December 15

Refrigeration & Warm/Cool Air Suppliers Credit Group

Bartolino's, St.Louis, MO

December 19

Midwest Regional Food Credit Group

Il Bel Lago, Creve Coeur, MO

NACM Connect - Nebraska Local Industry Credit Group Meetings DATE

GROUP

MEETING LOCATION

November 15

Omaha Builders Credit Group

The Enterprise Center, Omaha, NE

December 20

Omaha Builders Credit Group

Teleconference

NACM Connect - New York Local Industry Credit Group Meetings DATE

GROUP

MEETING LOCATION

November 9

Rochester Plumbing & HVAC Credit Group

Humphrey House, Penfield, NY

November 10

Buffalo Building & Construction Credit Group

Eagle House, Williamsville, NY

November 14

Western New York Food & Beverage Supply Credit Group

Ilio DePaolo's Restaurant, Blasdell, NY

November 16

Rochester Building Credit Group

Cerame's Restaurant, Rochester, NY

November 17

Benchmarking Credit Group

Cerame's Restaurant, Rochester, NY

November 20

Erie Building Credit Group

Ruby Tuesday, Erie, PA

November 21

Central New York Building Credit Group

Coleman's Pub, Syracuse, NY

November 22

Upstate New York Energy Credit Group

Conference Call

November 23

CNY Benchmarking Credit Group

Spaghetti Warehouse, Syracuse, NY

November 28

Buffalo Plumbing & Electric Credit Group

Eagle House, Williamsville, NY

December 12

Western NY Food & Beverage Supply Credit Group

Ilio DePaolo's Restaurant, Blasdell, NY

December 14

Rochester Plumbing & HVAC Credit Group

Humphrey House, Penfield, NY

December 15

Buffalo Plumbing & Electric Credit Group

Eagle House, Williamsville, NY

December 18

Albany Building Credit Group

Scarborough's, Latham, NY

December 19

Central New York Building Credit Group

Coleman's Pub, Syracuse, NY

December 21

Rochester Building Credit Group

Cerame's Restaurant, Rochester, NY

December 26

Buffalo Plumbing & Electric Credit Group

Eagle House, Williamsville, NY

December 27

Upstate New York Energy Credit Group

Conference Call

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NOVEMBER/DECEMBER 2017

PAGE 28

Event Calendar DATE

EVENT

LOCATION

TIME

PRESENTER / INSTRUCTOR(S)

November 8

NACM Connect Illinois Credit 102

NACM Connect Rolling Meadows, IL

9 a.m. – 4 p.m

Rich Bellis, CCE

NACM Connect Webinar The Legal Environment of Credit - Part II

________________________

11 a.m. – 12 p.m.

Wanda Borges, Esq.

NACM Connect Illinois - Lincolnshire Roundtable Discussion

Half Day Brewing Company Lincolnshire, IL

12 p.m. – 1:45 p.m.

Frank Schetski

NACM Connect Wisconsin - Fox Valley Roundtable Discussion

Perkins Restaurant Appleton, WI

8 a.m. – 10 a.m.

Matt Fluegge

NACM Connect Wisconsin - Milwaukee Roundtable Discussion

Point Burger Bar Milwaukee, WI

12:15 p.m. - 2:15 p.m.

Matt Fluegge

NACM Connect Wisconsin - Madison Roundtable Discussion

Rodeside Grill Windsor, WI

12:15 p.m. - 2:15 p.m.

Matt Fluegge

NACM Connect Indiana - Indianapolis Credit 103

Roche Diagnostics Corporation Indianapolis, IN

9 a.m. – 4 p.m

Judy Wagner, CCE, MBA

November 13

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

NACM Connect Rolling Meadows, IL

8 a.m. – 4 p.m

Linda Hass

November 14

NACM Connect Indiana - Indianapolis Emerging Leaders Series

Main Event Entertainment Indianapolis, IN

5 p.m. — 7 p.m.

__________________

November 15

NACM Connect New York - Buffalo Lunch Roundtable Discussion

Original Pancake House Williamsville, NY 14221

9 a.m. – 10:30 a.m.

TBA

NACM Connect Missouri Lunch Roundtable Discussion

Chris’ Pancake & Dining St. Louis, MO

8 a.m. – 9:30 a.m.

Staci Cima, CCE

November 15 & 16

NACM Connect Indiana - Indianapolis 2017 Credit Conference

Sheraton Indianapolis Hotel at Keystone Crossing Indianapolis, IN

8 a.m. – 5 p.m.

Various

November 16 - January 25

NACM Connect Missouri Financial Statement Analysis I

NACM Connect Creve Coeur, MO

6 p.m. – 9 p.m

Curtis Litchfield, CCE

November 16

NACM Connect New York - Rochester Lunch Roundtable Discussion

International House of Pancakes Rochester, NY

9 a.m. - 10:30 a.m.

TBA

December 5

NACM Connect Ohio - Columbus Roundtable Discussion

Star Leasing Company Columbus, OH

8:30 a.m. – 10:30 a.m.

Greg McBride

December 6

NACM Connect Ohio - Dayton Roundtable Discussion

NACM Connect Dayton, OH

8:30 a.m. – 10:30 a.m.

Greg McBride

NACM Connect Illinois Credit 103

NACM Connect Rolling Meadows, IL

9 a.m. – 4 p.m

Rich Bellis, CCE

NACM Connect Webinar 7 Proven Strategies for Reducing DSO and Improving Company Cash Flows NACM Connect Michigan - Grand Rapids Roundtable Discussion

________________________

10 a.m. – 11 p.m.

Chris Quass

Brann’s Steakhouse & Grille Grand Rapids, MI

11:30 a.m. – 1:30 p.m.

Terry DeBruine

NACM Connect Missouri Open House and Toy Drive

NACM Connect Creve Coeur, MO

4 p.m. – 6 p.m.

__________________

December 8

NACM Connect Ohio - West Chester Networking Luncheon & Discussion

UNO Pizzeria & Grill Union Centre West Chester, OH

11:30 a.m. – 12:30 p.m.

John Hoffert

December 12

NACM Connect Indiana - Elkhart Roundtable Discussion

Mid-City Supply Co., Inc. Elkhart, IN

11 a.m. – 1 p.m.

Stu Boswell, CBF

November 9

November 10

December 7

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NOVEMBER/DECEMBER 2017 PAGE 29

NACM Connect

Let’s face it, you need to make the best credit decisions as efficiently as you can. Your company depends on you finding answers and sharing them as quickly as possible. But when you rely on a flood of data to make those decisions, it’s not always easy and arriving at the best answers can be time consuming. With D&B Credit solutions, evaluating the most complete and current credit-risk insights is simpler and more efficient than ever. Comprehensive, intuitive and dynamic, this platform lets you make smart credit decisions faster. Keep a close eye on your key accounts and better monitor your entire portfolio, which gives you the information and time you need to drive growth by building valuable relationships with customers, partners, and colleagues. With powerful segmentation tools and personalized alerts, your entire team will be able to: • Tag customers for flexible organization, monitoring and reporting • Segment customers by the characteristics that are important to you. • View past 12 month trends in summary or detail form Talk to your NACM Connect rep to learn more about D&B Credit!

THE INTERCONNECTION

NOVEMBER/DECEMBER 2017

PAGE 30

nacm connect

Welcome New Members and Reps New Members

New Representatives

Abest Group Mike Shebasta

Rapid Displays Barbara Bridger

Ardagh Group Michelle Gibson

Accella Performance Materials David Henke

Rocky Brands, Inc. Renee Stickel

Butterball Farms, Inc. Josh Halker

Arrow International Robert Jirousek

Rocky Brands, Inc. Kandy Griffin

ASB Greenworld, Inc. Trina Saxon

Rocky Brands, Inc. Amy Williams

Crystal Flash Ltd. Partnership of Michigan Charles Kroll

Associated Materials/Gentek Theresa Backof

Rocky Brands, Inc. Samantha Thompson

Carlisle Construction Materials LLC Narci Munoz

Site Supply, Inc. Steve Hallarn

CTL Aerospace Inc. John MacLeod

Southern Pipe & Supply Co. Inc. Kevin Giles

Custom Cast Stone, Inc. Heather Case

TMW Systems, Inc. Scott Cunnigham

Ferguson Waterworks Kimberly Holmer

TMW Systems, Inc. Rosalie Anderson

Hannon Electric Gary Griswold

Truck Centers, Inc. Debbie Harper

Hufcor, Inc. Diana Ford

Valley Interior Products Barb Omer

J. Wm. (Bill) Weilemann

Direct Energy Lisa Seeger Dot Foods, Inc. J. Michael Wray Fortune Growers, LLC Suzanne Hough Foundation Building Materials Jennifer Fisher Future X Doug Wilson GLT Products Janet Nutt Kingspan Insulated Panels, Inc. Tom Boles RW Conklin Steel Supply, Inc. Stephanie Conklin

Nebraska Beef Company Ken Bell Nook Industries, Inc. Seth Appleby Nook Industries, Inc. Charmayne Addison Paychex, Inc. Karyn Rando Potter Signal Kimberly Hartman Randa Accesories Cindy Buelow

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NOVEMBER/DECEMBER 2017 PAGE 31

Caine & Weiner News

Caine & Weiner Announces Texas Office Expansion Jennie Hirtzel

aine & Weiner announced the relocation of their Dallas office location to accommodate enhanced client productivity and continued market development growth. “This move is the second expansion relocation in the Dallas market over the past 18 months, which is in alignment with our strategic incentives to broaden our domestic based human capital resources in a thriving business environment. Our client’s requirements remain our number priority and we stand at the ready to exceed their expectations, moreover to be a viable resource to any project-based internal or outsourcing opportunities. Flexibility and turnkey solutions are at the core of our commitment as a single-source partner,” said Greg

Cohen, President & CEO. “The Texas office is newly designed as a stateof-the-art facility with several Caine & Weiner key members of our leadership team home-based, and is a key resource among our five full-service call centers, and this growth signifies another milestone in our long history of service.” The 13,000 sq. ft. office, strategically located in the Dallas-Fort Worth Metroplex at 12005 Ford Road in Dallas (I-635/I-35 corridor), increases Caine & Weiner’s current capacity to 150 associates in Dallas. “The newly constructed and furnished space provides our agents and management team a wonderful environment in which to work

extremely hard achieving effective and efficient superior results for our clients on a daily basis,” said Mark Milstein, Chief Operating Officer of Caine & Weiner. “Our Dallas location already provides clients with a variety of commercial, consumer and first party service solutions and we expect to expand all facets of our operation at our new office.” Shamaria Smallis, Caine & Weiner’s Vice President-Human Resources pointed out, “The new space provides a secure professional workplace with fantastic amenities. Our recruiting team is excited about continuing the expansion of our Dallas location, including additions to the staff in a variety of departments and positions.

•

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

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

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

Todd Fierstein

Gateway Region Senior Manager, Client Services

Upstate New York Region Regional Director, Alliance Partner

terri.cramer@caine-weiner.com

todd@nacmconnect.org

502.425-0308

Warren Northern

716.839.1200

Jim McGee

Midwest Region Manager, Client Services

Midwest/WIsconson/Omaha Region Assistant VP, Client Services

warren.northern@caine-weiner.com

jim.mcgee@caine-weiner.com

847.407.2330

THE INTERCONNECTION

847.407.2348

NOVEMBER/DECEMBER 2017

PAGE 32

news

Caine & Weiner Collections Quarterly Giveaway Winner

ongratulations to the Jul-AugSept winner of the Caine & Weiner Quarterly Giveaway.

The winner is listed below. The next giveaway is a $150 Zappo's gift card. Each claim you place with Caine &

Weiner Collections during this quarter will be eligible for one entry into the drawing. Please support this important partner!

•

July-August-September Winner $150 Coach Gift Card

Leena Kayani, ACCO Brands

October-November-December Giveaway

Credit 101, 102, 103 Series Upcoming NACM Connect 2017 Class Dates Credit 101

Credit 102 • November 8

• TBA

Credit 103 • December 6

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

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

$460 per class Non-Members

Visit www.nacmconnect.org for more information and registration. THE INTERCONNECTION

NOVEMBER/DECEMBER 2017 PAGE 33

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

Northern Illinois

2017 Lunch Roundtable Discussions What’s New in the Wild Wild World of Credit Reporting Presenter: Nick Pokrifcak NACM Connect

September 26 Tuesday

The Customer From Hell! How to Deal With the Worst of the Worst Presenter: Frank Schetski NACM Connect

November 8 Wednesday

12 p.m. – 1:45 p.m. Cost per Meeting $25 members $50 non-members One coupon per person

Location: Half Day Brewing Company

(private back room)

200 Village Green Lincolnshire, IL 60069

Attendance at any of above roundtable discussion is worth .175 Continuing Education Units/CCE Recertification points

Name________________________________________________________________ Designation(s)_________________________ Member#___________________ Please write your name as you would like it to appear on your name badge.

Company___________________________________________________________ Address_____________________________________________________________ City_______________________________________________ State _______ Zip_____________ Phone _______________________ Fax _______________________ E-Mail ____________________________________________________________ Mobile _______________________ Do you accept text messages?

qYes qNo

Online registration is available on www.nacmmidwest.org q q q

Check enclosed—(payable to NACM Connect) mail to: 3005 Tollview Drive, Rolling Meadows, IL 60008 Please invoice me: Credit card—Pay by phone upon receipt of invoice: 1.800.935.6226 Check—Mail upon receipt of invoice. Coupon—Limit one coupon per person.

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

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

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

NOVEMBER/DECEMBER 2017

PAGE 34

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

2017 Wisconsin

November Roundtable Discussions

Credit Card Surcharging 2.0 Managing Your Program

Presenter: Matt Fluegge, National B2B Executive Consultant, Vantiv (the nation’s largest credit card processor)

Fox Valley q

Thursday, November 9

8 a.m. - 10 a.m. (breakfast)

Location: Perkins Restaurant 3030 East College Avenue (Hwy 441 at the East College Ave. Exit)

q Milwaukee

q Madison

12:15 p.m. - 2:15 p.m. (lunch)

Thursday, November 9

Friday November 10

Location: Point Burger Bar 10950 West Good Hope Road

Location: Rodeside Grill 6317 Rostad Circle

Milwaukee, WI 53224

Windsor, WI 53598

(Hwy 45 at the Good Hope Road east exit)

Appleton, WI 54915

(I-90/94 & Highway 19 exit)

Cost per Meeting

$25 members, $50 non-members. One coupon per person is valid. Pre-registration is required. Attendance at this roundtable discussion is worth .2 Continuing Education Units/CCE Recertification points Name________________________________________________________________ Designation(s)_________________________ Member#___________________ Please write your name as you would like it to appear on your name badge.

qYes qNo

Online registration is available on www.nacmmidwest.org q q q

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

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

NOVEMBER/DECEMBER 2017 PAGE 35

missouri Event

4rd Annual NACM Connect Missouri

Open House & Toy Drive December 7th 4 pm-6 pm

u’re Invi ted Brin Join ga ! toy us to d ! o

NACM Connect Missouri Office 12101 Woodcrest Executive Drive, Suite 145 Creve Coeur, MO 63141

nat e.

This holiday season help bring a smile to a child We’re welcoming NACM Connect Missouri members with holiday treats on Thursday, December 7th at the NACM Connect Missouri office for our 4th Annual Open House & Toy Drive. Donate a toy and receive a free drink ticket for an after-hours networking opportunity that night, 6:30 pm at Edgewild Bistro, 12316 Olive Blvd., Creve Coeur, MO 63141 You can help bring the joy of the holiday season to less fortunate children by bringing a new and unwrapped toy (which will be donated to Toys for Tots). This is a GREAT opportunity to help needy children and families, celebrate the holiday season and connect with friends and colleagues! Can’t make it? Feel free to drop off a donation at the office anytime before December 7.

What: Holiday Open House & Toy Drive When: Thursday, December 7, 2017 4 pm–6 pm Where: NACM Connect Missouri Office 12101 Woodcrest Executive Drive, Suite 145 Creve Coeur, MO 63141 Questions? Contact Rochelle Wilson at rochelle.wilson@nacmconnect.org or call 314.677.2800. THE INTERCONNECTION

NOVEMBER/DECEMBER 2017

PAGE 36

missouri Event NACM Connect Institute of Credit - CBA Certification Course

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

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

Instructor

Curtis Litchfield, CCE

Registration Deadline November 2

Thursday Evenings, November 16 – January 25

6 p.m. – 9 p.m. CST

NACM Connect │ 12101 Woodcrest Executive Drive, Suite 145 │ Creve Coeur, MO 63141

Cost*

$450, member (plus $115 textbook fee) Two coupons are valid per person.

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

qYes qNo

Online registration is available on www.nacmgateway.org q

Check enclosed—(payable to NACM Connect) mail to: 3005 Tollview Drive, Rolling Meadows, IL 60008

Please invoice me: Credit card—Pay by phone upon receipt of invoice: 1.800.935.6226 Check—Mail upon receipt of invoice.

I am using ___ coupon(s) for this event.

All payments must be received one week prior to class start date. Cancellation Policy: Cancellations must be received in writing, via fax e-mail or mail, no later than two weeks prior to the event date to qualify for a full refund. Cancellations received later than two weeks prior to the event date do NOT qualify for a refund of registration fees. Sorry, phone cancellations cannot be honored. If you have any questions, please email info@nacmconnect.org. *Registration fees increase by $80 for members and $160 for non-members if registration form is not submitted two weeks prior to start of class.

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

NOVEMBER/DECEMBER 2017 PAGE 37

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

NACM Missouri

2017 Roundtable Discussions

WAKE UP AND LEARN Breakfast Roundtable Meetings

Credit Proctology Moderator: Kevin Stinner, CCE, CCRA Crop Production Services

August 23 Wednesday

Tools to automate your credit department Moderator: Staci Cima, CCE Crescent Parts & Equipment

November 15 Wednesday

8:00 a.m. – 9:30 a.m. Location

Chris’ Pancake & Dining 5980 Southwest Avenue St. Louis, MO 63139

Cost Per Meeting

$25 members, $50 non-members One coupon per person (Breakfast Included)

CEU points and CCE recertification points are available for each meeting. Name ___________________________________________________________ Company _________________________________________ Please write your name as you would like it to appear on your name badge.

Address____________________________________ City ______________________________________ State ________ Zip____________ Phone_____________________________________ Fax ______________________________Mobile ________________________________ Email______________________________________________________________________ Do you accept text messaging? qYes qNo

Online registration is available on www.nacmgateway.org q q q

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

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

NOVEMBER/DECEMBER 2017

PAGE 38

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

Eastern/Western New York

2017 Roundtable Discussion Series Ways to Safely Sell Higher Risk Accounts

Collecting on Judgements Buffalo - July 19th q Rochester - July 20th q

q q

Canadian Collections & Legal Issues

October 18th - Buffalo October 19th - Rochester

How to Effectively Work with Your Sales Team

Buffalo - August 16th q Rochester - August 17th q

q q

November 15th - Buffalo November 16th - Rochester

Please select each meeting you plan to attend. All meetings are from 9 – 10:30 a.m. Moderator(s) to be announced.

Buffalo Location:

Original Pancake House 5479 Main St. Williamsville, NY 14221

Rochester Location:

International House of Pancakes 556 Jefferson Road Rochester, NY 14623

Cost per Meeting

$25 members, $50 non-members, one coupon per person is valid. Breakfast Included. CEU points and CCE recertification points are available for each meeting.

Name ___________________________________________________________ Company _________________________________________ Please write your name as you would like it to appear on your name badge.

Online registration is available on www.nacmupstateny.org q q q

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

Email this form to registration@nacmconnect.org. You will receive an invoice shortly. THE INTERCONNECTION

NOVEMBER/DECEMBER 2017 PAGE 39

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

NACM Connect Michigan

December Lunch Roundtable Discussion

LUNCH AND LEARN CONQUERING THE DEDUCTIONS

GIANT

Thursday December 7

11:30 a.m. – 1:30 p.m. Brann’s Steakhouse & Grille 4157 Division Ave S. Grand Rapids, MI 49548

Moderator: Terry DeBruine, BISSELL Homecare, Inc.

• What Department is ultimately responsible for resolution of all deductions?

• Who is willing to help? A/R is not always on the front line. • Does your Company just worry about processing the charge or do they address the root cause of the deduction?

Cost per Meeting

$30 members, $60 non-members. One coupon per person is valid. Lunch included. Attendance at this roundtable discussion is worth .2 Continuing Education Units/CCE Recertification points Name________________________________________________________________ Designation(s)_________________________ Member#___________________ Please write your name as you would like it to appear on your name badge.

qYes qNo

Online registration is available on www.nacmgreatlakesregion.com q q q

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

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

NOVEMBER/DECEMBER 2017

PAGE 40

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

2017 Indiana

December Lunch Roundtable Discussion

SETTING CREDIT LIMITS WITHOUT FINANCIAL INFORMATION ▪ ▪ ▪ ▪ ▪

Moderator: Stu Boswell, CBF

Role of Experian and D&B Reports Review of trade references Importance of bank reference information How to use sales “discovery” information Art versus science

Tuesday December 12 11:00 a.m. – 1:00 p.m.

Location:

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

Cost per Meeting

qYes qNo

Online registration is available on www.nacmgreatlakesregion.com q q q

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

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

NOVEMBER/DECEMBER 2017 PAGE 41

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

2017 Ohio

December Breakfast Roundtable Discussion

CREDIT INSURANCE

MUCH MORE THAN RISK MITIGATION Moderator: Greg McBride, Euler Hermes North America

Why Trade Credit Insurance? Each time you grant credit to your customers, your company is exposed to the risk of non-payment. Credit insurance ensures your invoices will be paid and allows you to manage the commercial and political risks of trade. This can ultimately help your business avoid catastrophic losses and safely grow sales.

When your receivables are insured, your company can: ▪ Grow sales safely, domestically and abroad, to new and existing customers ▪ Protect your business from risk of customer default and catastrophic loss ▪ Reduce bad-debt reserves ▪ Obtain greater access to funding and secure better finance options ▪ Expand export markets and offer competitive terms overseas

Tuesday, December 5

8:30 a.m. – 10:30 a.m.

Location:

Star Leasing Co. 4080 Business Park Drive Columbus, OH 43204

Cost per Meeting

$25 members, $50 non-members. One coupon per person is valid. Breakfast included. Attendance at this roundtable discussion is worth .2 Continuing Education Units/CCE Recertification points Name________________________________________________________________ Designation(s)_________________________ Member#___________________ Please write your name as you would like it to appear on your name badge.

qYes qNo

Online registration is available on www.nacmgreatlakesregion.com q q q

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

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

THE INTERCONNECTION

NOVEMBER/DECEMBER 2017

PAGE 42

ohio event

BASIC FINANCIAL ACCOUNTING

Accounting is the language of business. It provides a framework for capturing business transactions in a coherent manner. More formally, accounting is defined as “the process of identifying, measuring, and communicating economic information to permit judgments and decisions by users of the information.” This course will provide participants with a good understanding of accounting and how the accountant thinks about transactions. With the knowledge, participants will gain a strong foundation to comprehend financial information contained in financial statements.

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

Introduction to Accounting and Business Analyzing Transactions The Adjusting Process Completing the Accounting Cycle Accounting Systems Accounting for Merchandising Businesses Inventories Sarbanes-Oxley, Internal Controls, and Cash Receivables Fixed Assets and Intangible Assets Current Liabilities and Payroll Statement of Cash Flows Accounting for Partnerships and Limited Liability Corporations Corporations: Organization, Stock Transaction, and Dividends

NACM Connect Institute of Credit

Certification Course

Instructor

David Condon, CCE

REGISTRATION DEADLINE: NOVEMBER 22, 2017 * Dates

December 6 – February 21 (Wednesday evenings)

Time 3:30 p.m. – 6:30 p.m.

Location

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

Cost

$450, member (plus $350 textbook fee) Two coupons are valid per person.

$900, non-member (plus $700 textbook fee)

qYes qNo

Online registration is available on www.nacmgreatlakesregion.com q q q

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

Cancellation Policy: Cancellations must be received in writing, via fax e-mail or mail, no later than two weeks prior to the event date to qualify for a full refund. Cancellations received later than two weeks prior to the event date do NOT qualify for a refund of registration fees. Sorry, phone cancellations cannot be honored. If you have any questions, please email info@nacmconnect.org. *Registration fees increase by $80 for members and $160 for non-members if registration form is not submitted two weeks prior to start of class.

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

NOVEMBER/DECEMBER 2017 PAGE 43

2017 Ohio

December Breakfast Roundtable Discussion

CREDIT INSURANCE

MUCH MORE THAN RISK MITIGATION Moderator: Greg McBride, Euler Hermes North America

Wednesday, December 6 8:30 a.m. – 10:30 a.m.

Location:

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

Cost per Meeting

qYes qNo

Online registration is available on www.nacmgreatlakesregion.com q q q

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

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

NOVEMBER/DECEMBER 2017

PAGE 44

NACM connect

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

Linda Hass, SAP Consultant

Monday, November 13, 2017 NACM Connect 3005 Tollview Drive Rolling Meadows, IL 60008

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

Non-Member Fees

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

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

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

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

 Beginner  Intermediate  Advanced

You will be invoiced for this meeting. Please submit payment once invoice has been received. Upon receipt of the invoice, if you wish to pay by credit card please call 1-800-935-6226.

Please e-mail your discussion topics to themis.vlahos@nacmconnect.org. Fax this registration form to 847-483-6428 no later than Monday, November 6, 2017. For more information, please contact Themis Vlahos, CCE at 800-935-6226, ext. 6428.

THE INTERCONNECTION

NOVEMBER/DECEMBER 2017 PAGE 45

NACM connect

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

CONNECT Institute of Credit

2018 Class Schedule CBA Courses Course Description

Spring 2018

Business Credit Principles

Mondays 3/12 - 5/14

Summer 2018

Fall 2018 Mondays 8/20 - 10/29*

Available through videoconferencing

Thursdays 6/14 - 8/16

Basic Financial Accounting

Available through videoconferencing

Thursdays 3/15 - 5/17

Financial Statement Analysis I

Thursdays 8/23 - 10/25

Available through videoconferencing

CBF Courses Course Description

Spring 2018

Business Law

Mondays 3/12 - 5/14

Summer 2018

Fall 2018

Mondays 8/20 - 10/29*

Credit Law

Evening Class Times: 5:30 â&#x20AC;&#x201C; 8:30 p.m. * No Classes on September 3 (Labor Day)

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

Professional Certification Program Test Dates Application and Paperwork Deadlines

Exam Dates

January 26, 2018

Monday, March 5, 2018

April 20, 2018

Sunday, June 10, 2018 Credit Congress, Phoenix, AZ

June 1, 2018

Monday, July 23, 2018

September 14, 2018

Monday, November 5, 2018

Classes are subject to cancellation based on enrollment.

For more information on becoming a certified credit professional, please visit the NACM Connect website at www.nacmconnect.org, or contact Lillian Novak by phone at 800-935-6226,or via email at lillian.novak@nacmconnect.org.

THE INTERCONNECTION

NOVEMBER/DECEMBER 2017

PAGE 46

NACM Connect

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

CONNECT Institute of Credit

Registration Form Name: __________________________________________________________________________________________ Company:______________________________________________ Phone:____________________________________ Address: _______________________________________________ Fax: _____________________________________ City: __________________________________________ State: ____________________ Zip: ____________________ Email Address: ______________________________________________ Member Number: ______________________

Course Fees:

q Member – $450 (plus textbook fee*)

Non-Member –$900 (plus textbook fee*) Two coupons are valid per person. *Additional rush charges may occur if registration is not submitted two weeks prior to start of class.

Please check your selection from the courses listed below Course Name

Required Textbook*

Textbook Fee Member

Textbook Fee Non-Member

qCAP: Business Credit Principles

Principles of Business Credit

$100

$200

qCAP: Basic Financial Accounting

Accounting

$350

$700

qCAP: Financial Statement Analysis I

Understanding Financial Statements

$115

$230

qACAP: Business Law

Business Law Today

$365**

$730**

qACAP: Credit Law

Business Law Today

$365**

$730**

ISBN: 9781133607601

ISBN: 10:0132655063

Version subject to change.

By Warren, Reeve and Duchac

By Lyn Fraser-Aileen Ormiston

By Miller-Jentz

ISBN: 10:0538452803

By Miller-Jentz

ISBN: 10:0538452803

* Textbook editions can change at any time. If you are not purchasing a book through NACM Connect, please confirm the edition with Lillian Novak, lillian.novak@nacmconnect.org, before you buy. All students must have same edition - no exceptions. ** The same textbook can be used for both classes in most cases. Prices are subject to change without prior notice - Classes are subject to cancellation based on enrollment A 20% surcharge applies to late registrations and rebooking

qWinter

qSpring

qSummer

qFall

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

Online registration is available on www.nacmmidwest.org/chicago q q q

Check enclosed—Payable to NACM Connect and mailed to: 3005 Tollview Drive, Rolling Meadows, IL 60008 Please invoice me: Credit card—Pay by phone upon receipt of invoice: 1.800.935.6226 Check—Mail upon receipt of invoice. I am using ___ coupon(s). Limit two coupons per person.

Email this form to registration@nacmconnect.org. You will receive an invoice shortly. THE INTERCONNECTION

NOVEMBER/DECEMBER 2017 PAGE 47

nacm connect

The Legal Environment of Credit - Part II Wednesday, November 8, 2017 11 am - 12 pm CT

WEBINAR

About the Webinar This program will discuss more of the legal intricacies of credit. In this 60-minute session, participants will learn: • How to create a guaranty that is enforceable and bullet proof, including personal guaranties, corporate and cross-corporate guaranties • Collection processes and lawsuits and what every credit professional should know about preparing your account for litigation • How to manage and preserve the documents necessary to win your lawsuit • What are the various aspects of litigation, including the types of answers and affirmative defenses must commonly used by debtors and how to be the bestwitness possible to recover the unpaid funds for your company. About the Presenter

Wanda Borges, Esq.

Wanda is the principal member of Borges & Associates, LLC, a law firm based in Syosset, NY. For more than 29 years, Ms. Borges has concentrated her practice on commercial litigation and creditors’ rights in bankruptcy matters, representing corporate clients and creditors’ committees throughout the United States in Chapter 11 proceedings, out-of-court settlements, commercial transactions and preference litigation. She is the Immediate Past President of the Commercial Law League of America and has been an Attorney Member of its National Board of Governors, a Past Chair of the Bankruptcy Section and a past member of the executive council of its Eastern Region. Ms. Borges is a member of the American Bar Association, the American Bankruptcy Institute, the Hispanic National Bar Association and the Turnaround Management Association, and is an associate member of the International Association of Commercial Collectors. She is a regular lecturer for NACM and its Affiliated Associations on commercial and corporate law (including ECOA, the Uniform Commercial Code and FCRA), insolvency matters, creditors’ rights issues, antitrust law and the Sarbanes-Oxley Act of 2002.

WEBINAR REGISTRATION Participation points are available for this webinar.

Date Wednesday, November 8, 2017

Time 11a.m. — 12p.m. CST

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

Name_______________________________________________________________ Member #____________________________________________ Company___________________________________________Address________________________________________________________________ City____________________________________________ State _________________________ Zip_________________________________________ Phone ________________________ Fax _________________________ Email _______________________________________________________ Mobile __________________________________________________________________________ Do you accept text messages?

qYes qNo

All payments must be made prior to receiving link for the webinar. q Check enclosed—(payable to NACM Connect) mail to: 3005 Tollview Drive, Rolling Meadows, IL 60008 q Please invoice me. Credit Card—Pay by phone upon receipt of invoice: 1.800.935.6226. Check—Mail upon receipt of invoice. q I am using a coupon for this event. Cancellation Policy: Cancellations must be received in writing, via fax, email or mail, no later than two weeks prior to the event date to qualify for a full refund. Cancellations received later than two weeks prior to the event date do NOT qualify for a refund of registration fees. Sorry, phone cancellations cannot be honored. If you have any questions, please email info@nacmconnect.org.

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

NOVEMBER/DECEMBER 2017

PAGE 48

NACM connect

7 Proven Strategies for Reducing DSO and Improving Company Cash Flows Thursday, December 7, 2017 10 am - 11 am CT

WEBINAR

About the Webinar In this live presentation, we will discuss how quick collection on customer accounts can be tricky — many companies struggle with a high Days Sales Outstanding (DSO) value, which leads to greater challenges like: • Damaged customer relationships • Negative company cash flow • Stunted revenue growth

Join us for a 60-minute live webinar to discover how technology can lead to seven proven strategies to reducing DSO and getting company cash flow in the green. About the Presenter

Chris Quass Chris Quass is a Senior Mid Market Account Executive for Esker, a worldwide leader in cloudbased document process automation software, with his focus on accounts receivable & collections management automation. Chris has over 12 years’ experience with customer payment processing, with an expertise in providing software-as-a-service solutions that compliment an organizations current IT environment while improving their productivity, efficiency and environmental impact. Chris attends a variety of NACM events throughout the year representing Esker & helping NACM members improve their current Accounts Receivable processes.

WEBINAR REGISTRATION Participation points are available for this webinar.

Date Thursday, December 7, 2017

Time 10a.m. — 11a.m. CST

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

qYes qNo

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

NOVEMBER/DECEMBER 2017 PAGE 49

NACM Connect

2017-2018 Advisory Board Member Volunteers 2017-2018 Missouri Advisory Board CHAIRPERSON Kevin Stinner, CCE Crop Production Service

DIRECTORS Term Ending 2018 Rob Hanus Carhartt, Inc. COUNCILOR Jim Montague, CCE Lippert Components, Inc.

VICE CHAIRPERSON Curtis Litchfield Land Oâ&#x20AC;&#x2122;Lakes/Purina Mills SECRETARY Staci Cima Crescent Parts & Equipment DIRECTORS Term Ending 2018 Debbie Harper, CCE Truck Centers, Inc. Jason Mott MFA, Inc. DIRECTORS Term Ending 2019 Brent Heizelman Mid-Kansas Cooperative Assn. Tiffany Sudduth American Metals COUNCILOR Chuck Levy, CCE John Fabick Tractor Company

2017-2018 Great Lakes Advisory Board

2017-2018 Upstate New York Advisory Board CHAIRPERSON

Bonnie Bonavito Try It Distributing

SECRETARY Deborah Coder NOCO Inc. DIRECTORS Term Ending 2021 Deanna Jonas, CCE Daikin Applied DIRECTORS Term Ending 2022 Anthony Mitchell Crop Production Services

2017-2018 Nebraska Advisory Board CHAIRPERSON Gary Kennett Nebco Inc. VICE CHAIR Terri Lawver Hornady Manufacturing DIRECTORS Term Ending 2018 Janet Henseleit Vulcraft - Division of Nucor CFDD REPRESENTATIVE Brett Bartling Warren Distribution

2017-2018 Wisconsin Advisory Board CHAIRPERSON

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

DIRECTORS Term Ending 2018 Cindy Fredericksen Regal-Beloit Corporation

SECRETARY Caroline Perkins, CCE Mickey Thompson Performance Tire

COUNCILOR Rich Weiss, CBA Jaeckle Distributors

COUNCILOR Bonnie Shantler

CHAIRPERSON

Michael Gould Logicalis, Inc.

Eleanore Jones Lakeside Manufacturing

Diana Hoffman Rockline Industries

Mary Hotvedt, CCE Waupaca Foundry

THE INTERCONNECTION

NOVEMBER/DECEMBER 2017

PAGE 50

NACM Connect

Ease Your Workload

with NACM Connect’s

Credit Application Processing Let Us Contact the References for You

How the Credit Application Processing Service Works

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.

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. Fax the credit application to 937.228.6114 or email to businesscredit@nacmconnect.org.

Pricing is as follows:

We will contact up to …

Rush Processing

(24 hrs)

$25.00

Regular Processing (4-5 business days) $20.00

Additional information subject to availability: Secretary of State

$5.00

UCC Records

$5.00

(up to the 5 most recent filings)

4 Trade References and 1 Financial Institution Legible applications submitted with accurate contact information will ensure a quick turnaround, saving you time to focus on other important department operations! Upon completion, trade reference information will be forwarded including those references that did not reply after three attempts. *US & Canada only*

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 p 847.483.6400 f 847.253.6685 www.nacmconnect.org

THE INTERCONNECTION

NOVEMBER/DECEMBER 2017 PAGE 51

The InterConnection 800.935.NACM

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