Managing Credit, Receivables & Collections
Managing Credit Receivables and Collections provides information to the business credit community. It focuses on keeping credit and collection professionals up-to-date on the latest legal changes, technology and news affecting the profession. Additionally, it regularly surveys its subscribers as to the best ways they perform the credit and collection function. This information is disseminated in the newsletter. Each issue contains 5-7 articles, 6-10 short news clips, a profile on the back page and a calendar of upcoming seminars and conferences. An international supplement is included quarterly. Topics covered include: credit, collections, billing, accounts receivable, bankruptcy, legal issues, preferences, working with sales, making customer visits, salary and career information, DSO numbers, benchmarking data, credit scoring, technology, EDI and XML.
July 2009 - Table of Contents
To the large number of factors pushing credit departments toward automating risk analysis can now be added another: the ongoing recession. In today’s volatile economy, a highly creditworthy customer can become insolvent tomorrow, meaning that automated credit decisioning and scoring, in addition to lowering DSO and increasing productivity, have become virtual survival best practices for many companies.
ESSENTIALS OF COLLECTIONS LAW. St. Louis, July 9; Atlanta, July 10; Nashville, July 27; Memphis, July 28; New York City, August 14; Raleigh, NC, Sept. 16; Sacramento, CA, Sept. 21; Oakland, Sept. 23. Contact: National Seminars Group, 877-736-4636; snipurl.com/fexa.
CRF CREDIT & AR OPEN FORUMS. Chicago, August 10-12, 2009; Pittsburgh, Oct. 19-21. Contact: CRF, 410-740-5499; www.crfonline.org. …
For proactive credit executives, periods of economic downturn—while no one likes them—are a time to prove your value to top management. One way to accomplish this is to extend the expertise of the credit function beyond the traditional area of investigating the creditworthiness of your company’s customers to checking the financial health—and threat of bankruptcy—of its critical suppliers.
MCRC Survey: What and When Are Credit Pros Outsourcing? What Credit Department Structure Is Right for Your Company? How to Meet Mexico and EU e-Invoicing Mandates What You Need to Know About SEPA (Single Euro Payments Area) Cash Flow Analysis for Forecasting and Risk Management Accounts Receivable and ERP—Making Them Work Together How to Demonstrate Your Value to the Company by Helping Purchasing Study the Financials and Evaluate the Creditworthiness of Your Company’s Key Suppliers.…
Collection Effectiveness Index Sees Record Decline
The Credit Research Foundation (CRF; www.crfonline.org) first quarter, 2009, National Summary of Domestic Trade Receivables (NSDTR) survey reveals the greatest quarter-over-quarter decline in the collection effectiveness index (CEI) since it was created. CRF developed the CEI in 1995 to augment days sales outstanding (DSO), best possible DSO, average days delinquent (ADD), percent current, and percent over 91 days past due. The CEI identifies, as a percentage, the total receivables collected…
At the recent 2009 International Credit Executives (I.C.E.) Conference, two credit managers offered valuable advice on handling increased global risk in today’s risk-centric environment. At the panel, Managing Credit in a Global Credit Crisis: A New Way of Managing Receivables and Doubtful Accounts, the panelists were Gene Perry, director of credit at Exterran, a global full-service natural gas compression company, and Dave Weidinger. Weidinger is senior director of credit and AR at the McGraw Hill Companies and FCIB chairman. FCIB (Association of Executives in Finance, Credit & International Business) sponsored the conference.
In spite of the many benefits to be gained by using auto-cash application software to expedite collection and deductions processes, MCRC’s new Credit & Collections Benchmarks & Analysis survey reveals that just one-third (34.2 percent) of respondents have such a system in place (see Table 1). That means fully 65.8 percent of responding credit pros are still applying cash manually, costing them in both time and accuracy since data-entry staff must key in each cash application individually.
Measuring and maximizing performance are key goals for credit professionals charged with “doing more with less” in these challenging times. However, what are the best standards against which to measure gains in efficiency and performance of a wide range of credit tasks—and what are the best practices for maximizing that performance? MCRC’s new Credit & Collections Benchmarks & Analysis survey contains a wealth of data addressing this important question.
Credit pros who use wholesale lockboxes are finding that their value is enhanced during the current recession. That’s because besides shortening the receivables cycle for high-dollar, low-volume, business-to-business mail payments, wholesale lockboxes deliver more complete information rapidly to the credit department and the company’s finance function.
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