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.
October 2008 - Table of Contents
In today’s economic climate, credit pros at many companies are finding that gaining approval from CFOs for credit automation spending has become a lot more challenging. However, since the automation of credit functions is often the single most effective path to gaining competitive efficiencies and lowering costs, proactive credit managers must go the extra mile to present a compelling ROI to win approval for such initiatives.
The potential for a recession in the United States reminds vendors of the financial challenges customers face to be profitable in coming quarters. States also are finding it more difficult to meet their budgets due to declines in corporate and sales tax revenue, increased foreclosures, and weak consumer spending. Indeed, 25 states project budget deficits for 2009.
As overseas sales by U.S. companies continue to hit new records every month, more credit pros than ever are navigating the often tricky waters of international credit. Especially in emerging markets or with new customers, offering open account terms may pose unacceptable risks (see the accompanying table). That means becoming familiar with the often complex universe of export letters of credit (LC).
Creditors conducting business internationally sometimes are required to provide certified translations of documents. These may include contracts or invoices for judicial and legal proceedings against a debtor. The court conducting the proceedings will not accept a general summary of the document in the target language. In order to be accepted by courts or other authorities, the document must be a certified translation of the source text.
The Credit Research Foundation (CRF) 2nd Quarter 2008 National Summary of Domestic Trade Receivables (NSDTR) survey reveals a slight improvement in days sales outstanding, average days delinquent, and percent over 91 days past due, indicating that most credit pros responding to this survey are successfully monitoring receivables to ensure cash flow despite the economic slowdown and rising delinquencies.
ESSENTIALS OF COLLECTIONS LAW. Albuquerque, Oct. 7; Phoenix, Oct. 8; Las Vegas, Oct. 10; Pittsburgh, Nov. 4; Miami, Nov. 10; Denver, Nov. 13; Seattle, Nov. 19. Contact: National Seminars Group, 877-736-4636; snipurl.com/fexa.
FCIB-MSU FOREIGN EXCHANGE MANAGEMENT ONLINE COURSE. Starts Oct. 12. Contact: FCIB, www.fcibglobal.com/events/FX_Course.html.
FCIB INTERNATIONAL CONFERENCE AND WORKSHOP IN EUROPE. Lisbon, Portugal, Oct. 12-14. Contact: FCIB, www.fcibglobal.com/newsite/events/online_course.html. …
2nd Quarter 2008 Business Bankruptcies Jump—Again
Compared with the second quarter of 2007, chapter 7 filings were up a dramatic 62.5 percent while chapter 11s showed an increase of 16 percent and chapter 13s rose 14 percent. For the 12-month period ended June 30, 2008, compared with the same period ended June 2007, chapter 7 filings were up 53 percent; chapter 11s, 29 percent; and chapter 13s, 14 percent. Total business bankruptcies for the second quarter…
Implementing Portfolio Scoring to Enhance Collections How to Spot Troubled Companies’ Warning Signs Accounts Receivable and ERP—Making Them Work Together Meeting the Challenge of Serving on a Creditors Committee What You Need to Know About SEPA (Single Euro Payments Area) Top Strategies to Control Costs in the Credit Department…
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