Official Newsletter of the

Mid-Atlantic National Association of Credit Management

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midatlanticnacm.com

C REDIT N EWS
Inside This Issue:
26 Ways to Tighten Credit Control ....................... 1 New Members ............................................................ 2 New Consumer Credit Service ............................... 5 GOWBrowser Update ......................................... 5 New Credit Group Announcement........................ 6 Fundamentals of Credit Management Seminar ... 7 Employment Website Link .......................................... 8 NACM Staff List ..................................................... 8 106th Credit Congress Tape/CD order form ........ 9 Employment Highlights from CreditJobsToday......... 11 Event Calendar ..................................................... 12

July 2002

26 Ways to Tighten Credit Control Without Alienating Sales . . . Much

Getting along with sales has always been important and sometimes quite difficult. In the current fragile economic environment, credit professionals often find this tenuous relationship stretched even further as they search for ways to tighten controls on sales staff selling to customers who dont meet credit standards. In a recent subscriber survey, credit professionals shared their secrets for establishing a smooth relationship with sales and tightening credit controls where needed. Collections Inevitably, the problems between sales and credit focus on collections. As you will see, many credit managers find that the credit-sales relationship falls apart when the issue of collections arises. The credit professional who earns the respect of the sales department eliminates many of the departments collection issues. When they understand that we are working with them as a team, explains one credit manager, they trust my decision. Gaining that trust sometimes takes a little effort spread over many months.

Techniques The professionals responding to our survey shared the ways that they had improved the sales-credit relationship. Quite a few commented that it did not happen overnight but rather over a period of time, as the sales staff came to understand that the credit staff was trying to work with them, not against them. As the sales staff comes to trust the credit staff, there are fewer arguments when the credit department has to refuse a new customer or put an existing customer on credit hold. The accompanying sidebar details numerous ways credit professionals have worked to establish good relationships with sales at the same time they are trying to tighten the reins on extending credit to customers of questionable financial standing.

I also choose my battles, he continues, loosening up when little risk is involved. The credit manager who lets the salesperson win when the risk is slight will not be seen as inflexible. Then, when the risk is greater, the salesperson might be willing to give a NEW GROUP little and not insist on a particular sale. When sales and credit partner together, everyone wins. The salesperson make more sales, the credit and collection professional collects a higher percentage of the receivables, and the company prosperswhich is good for everyone concerned.

Announcing . . .
FORMING

The Central Pennsylvania Equipment Group See page 6 for more details

Most credit managers will find several techniques here that they can use to fine-tune the relationship with their own sales staff.
(continued on page 3)

Credit NewsJuly 2002

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WE L C O M E T O O U R N E W E S T M E M B E R S
New members* of the Mid-Atlantic NACM from June 1, 2002 to June 30, 2002.

Alpharma USPD Inc. Craig Casey Avatech Solutions Tamika Boone Foamex International Russ Rosenzweig

GE Supply Company Eric Nygaard Games Workshop Karen Zukowski

Griffith Electric Supply Co., Inc. Rupert Swindells Superior Products Connie Baker

*A new member denotes either a new company or a new contact for an existing member company.

We would like to congratulate Brian J. McCrudden, CCE of Aventis Behring, LLC and Steven Hatala, Jr., CCE of Novartis Pharmaceuticals Corp. for becoming Certified Expert Witnesses. Need an expert in the analysis of preference claims and defenses?

ACMs newest credit management tool Electronic Funds Transfer (EFT)

EFT offers you the ability to take advantage of the latest electronic capabilities by allowing you to receive payment information over the phone, fax or the internet, then depositing the item electronically via ACMs state-of-the-art encrypted website. Payment is typically received in 48 hours. In effect, the bank is being brought to your desktop! Under the exclusive ACM/NACM member benefit package, we take pride in our continued policy of no startup fees, no costly software, and no monthly minimum fees. For more information about EFT, check gua rantee, or credit card merchant services, we encourage you to call (800) 759-6786, or visit American Check Managements website at www.acmeft.net.

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26 WAYS TO TIGHTEN CREDIT CONTROL

(continued from page 1)

1. Establish a prequalification process for use by both inside and outside sales forces for new and prospective customers. Once the sales force gets comfortable with this approach, it will not schedule meetings with prospective customers until it has put them through the inquiry process. It will also spend less time pursuing customers with a questionable ability to pay. 2. Show the sales staff over a one-year period that selling to poor credit-risk customers does not make sense. 3. Establish and definewith management support standards. Inform sales of the standards and require it to be included in the collection of past-due invoices. 4. Put corporate collection policy in writing and distribute to the sales staff. Give sales staff the responsibility to collect on slow pays. 5. Require preapproval from credit prior to approaching a new customer. By responding to queries from sales quickly, via e-mail, it is possible to slowly get buy-in to this approach from sales. 6. Limit the number of people who can override a credit hold. Have staff reduce credit limits on tardy customers. 7. Hold sales responsible for past-due amounts on unauthorized sales. Penalize the sales staff financially on unauthorized sales that are not collected. It will only take one or two penalties to get the attention of the whole sales staff. 8. Dont allow customer service to override soft credit holds. 9. Hold shipments on orders where the salesperson does not verify the credit limit before processing the order. 10. Rewrite credit and collection policies to reflect the fact that the salesperson will only get paid after the company has been paid. Once the sales reps realize that their bottom line will be affected, they become very interested in helping with collection efforts. 11. Charge sales reps for violations of company policy for not selling to past-due accounts. 12. Provide sales staff members with a copy of the credit and collection policy and procedures manual. Meet with them quarterly, perhaps at their sales meetings,

and answer any questions about the policy and other credit issues. 13. Change the compensation scheme for salespeople so they are not compensated if the company has to either write the receivable off or turn it over to a collection agency. 14. Enhance system so that sales can be provided with more accurate and more timely information about its accounts. 15. Educate the salespeople about the wonderful world of credit. Gradually, they will change their view of customers who are not paying on time and those taking unauthorized deductions. 16. Accomplish two goals with one technique accompany the salesperson on customer visits. This will not only improve the relationship with sales but as it gets to know the credit professional better, it will also sharpen the credit analysis performed to set a credit limit. 17. Create a report, broken down by salesperson, that captures account, sales, payment history, DSO, and write-offs. Present this data at sales meetings. When presented with the facts in black and white, most sales staffs are less reluctant to get credit involved before they call on a new potential customer. No salesperson wants to have the worst performance, even if it is on a list generated by the credit department. 18. Schedule regular meetings with the sales department to discuss and resolve issues related to short pays and disputed items. 19. Keep the sales department involved with accounts as they become past due. This way there are no surprises when a large customer is put on credit hold. 20. Use the sales department as an extension of the credit department to obtain more indepth information about the customer. 21. Try to look at things from the salespeoples point of view. Accompany them on a few sales calls, not to discuss credit issues, but to understand the problems and issues they encounter each day. 22. Stop selling to companies that have outstanding ba lances in excess of 90 days. By e-mailing the sales
(continued on page 4)

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26 WAYS TO TIGHTEN CREDIT CONTROL

(continued from page 3)

Dont Forget . . . Our Annual Golf Tournament in September

department the aged trial balances for their accounts, you can easily show it which customers are likely to fall into that category. 23. Involve the sales department in managing customer accounts from a credit standpoint. This crossfunctional approach, sometimes referred to as financial customer service, not only improves service to customers, but also speeds up collections. 24. Become a polite, but consistent, nuisance with sales on collection issues. Encourage it to contact credit at the first sign of a problem or it a potential new customer needs to be investigated. 25. Improve the visibility of the credit department within the company. As the credit department earns more respect overall, it is likely to spread to the sales department as well. 26. Distribute reports throughout the company showing DSP, best possible DSO, CEI, and percent of delinquencies 60 days or longer. This information can be broken down by division or branch, encouraging the different groups to compete against each other for the best figures. (Source: MCRCSurvey) Reprinted by permission 2002 IOMAs Managing Credit Receivables & Collections Report. Mary Schaeffer, Editor, 212/244-0360. http\\:www.ioma.com

September 20, 2002

Pleasant Valley Golf Club

Stewartstown, PA
For more information contact Audra Wisnom at 410-785-6419

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NACM Mid-Atlantic Announces

New Credit Service

NACM Mid-Atlantic and OneCreditSource.com have teamed up to provide consumer credit reports to NACM members. NACM Mid-Atlantic continues to research and build strategic relationships with quality credit related companies, so their members have access to the tools necessary to make accurate credit decisions. OneCreditSource.com provides on- line consumer credit reports to a vast array of clients, and is known for their industry leading customer service. What does OneCreditSource.com have to offer? OneCreditSource.com has a unique relationship with the three major credit reporting agencies (TransUnion, Equifax & Experian) that allows them to return consumer credit reports on- line. All transactions are secure, which keeps the website safe from prying eyes. Plus, OneCreditSource.com is web based so there is no software to install or maintain. Finally, there are no annual or monthly minimum fees associated. How do I begin to utilize this service? Visit the credit reporting section of NACM Mid-Atlantics website at http://midatlanticnacm/creditinfo/index. html. Then click on the OneCreditSource.com logo, and simply fill out the new client page, or call your local NACM Mid-Atlantic representative, Nancie Makowski at 800-220-7237 x117 and she can answer any que stions you may have. Upon completion, an OneCreditSource.com representative will call and get you into compliance per the Fair Credit Reporting Act.

*** For a free on-line demonstration please call Robin at 800-955-1356 x282 ***

GROUPS ON THE WEB BROWSER UPDATE INFORMATION

With all of our recent additions and upgrades to Groups on the Web, we have found that some older internet browsers cannot process some of our reports/data. In order to use all of the features and to fully utilize our Groups on the Web site, we strongly recommend that you upgrade your browser to their current versions. The most recent version of Internet Explorer is 6.0 , and the most recent version of Netscape is 6.2 .

You can download the latest program updates free on the web.
For Internet Explorer: http://www.microsoft.com/windows/ie/downloads/ie6/download.asp For Netscape: Http://wp.netscape.com;computing/download/index.html
If you have any problems or questions about this, please contact Jason Gardner at 410-785-1975 x115.

Credit NewsJuly 2002

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MONTHLY MEETINGS YOU WONT WANT TO MISS!!

M I D-ATLANTIC NACM ANNOUNCES...

a formal meeting of The Central Pennsylvania Equipment Group on August 21, 2002. This group is comprised of manufacturers or wholesale distributors of building, construction and/or transportation materials, equipment or supplies. The group will incorporate factual discussion on accounts located in the Central and Southern Pennsylvania areas. The concept is simple: Exchange Information and Reduce Losses!
Please take a moment to complete and return the attached form. Fax to Jeanne Long at 410-785-1993 before August 14, 2002.

Yes, I am interested in participating in the August 21, 2002 meeting.

(MEETINGS WILL BE HELD AT CLEVELAND BROTHERS IN HARRISBURG)

No, I am not interested. I am not interested at this time, but would like NACM to keep me
updated on the status of this group. Name of company: ___________________________________________ Contact name: ______________________________________________ Phone #: _____________________ Fax #: _______________________ Email: _____________________________________________________

FOR MORE INFORMATION CALL JEANNE LONG AT

410-785-1975 EXT. 126

FOR THE PROTECTION OF ALL MEMBERS, NACM MEETINGS ARE SANCTIONED BY THE NATIONAL ASSOCIATION OF CREDIT MANAGEMENT AND ARE GOVERNED IN ACCORDANCE WITH ALL ANTI-TRUST RULES AND REGULATIONS.

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Fundamentals of Credit Management

New to the Credit Function? Want to Know How to Get Some Help? Receivables Management Got you Down? Credit Losses Rising?

August 21, 2002

NACM Mid-Atlantic Office 224 Schilling Circle Hunt Valley, MD 21030
Breakfast/Registration 8:309:00 am Presentation 9:0010:30 am

If you answered YES to any of these questions, you need to attend the Fundamentals of Credit Management Seminar offered by the NACM Mid-Atlantic and the Credit Research Foundation!! At this seminar, youll learn:

Present er: Lyl e Walli Tools of the Trade Credit R s, CCE e s e a rch Fou The Basics of Receivable Management ndation
Credit Fundamentals Measures of Performance How to Evaluate a Customer Controlling Credit Risk Exposure Basic Collection Procedures
Registration must be received by:

$50 per person for Mid-Atlantic NACM members $85 per person for non-members

Name(s) _____________________________________________________________ Company __________________________________________ NACM # __________ Phone _______________________________ Fax ___________________________ Email _______________________________________________________________

August 16, 2002

Mid-Atlantic NACM, P.O. Box 864 Hunt Valley, MD 21030
Phone: 410-785-6419 Fax: 410-785-9651

q Please bill by company for $__________. q Check enclosed for $__________ payable to Mid-Atlantic NACM q Charge credit card for $________ Circle One - Master Card, Visa, Amex
Card Number _______________________________________ Exp. Date _________ Signature of Cardholder _________________________________________________

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Dont put it off another day!

Now, its easy to jump start your credit career. Go now to our web site: www.midatlanticnacm.com Click on Employment Need a job?
Our job site was built exclusively for credit pos itions. We now have more trade credit and colle ction jobs than the New York Times , the Washington Post, the Wall Street Journal, and the next two largest credit niche job sites put together!

Mid-Atlantic NACM Staff Extension List

President 127 William Von Hagel Accounting 105 Heidi Fleshman 110 Brenda Miller Collections 103 Jerry Insley 104 Sheila Clayton 102 Anne Novotny 129 Lavy Mammen Education/Membership/ Newsletter Editor 119 Audra Wisnom Industry Groups 121 Sharon Bucci 126 Jeanne Long 123 Barbara Pasko Interchange/Reports

Searchable and database-driven, giving you great flexibility:

Post your resume on the site Great traffic by employers Searchable by keyword See how many times employers look at your resume Set up a search agent Anonymously have the jobs that meet your criteria sent to you as soon as they are posted You set the criteria to your exact specs Easy to use

117 Nancie Makowski 116 Trisha Daily 114 Michelle King Computer Services 115 Jason Gardner

Need a great candidate?

Youll reach the best talent pool in the world on the Mid-Atlantic NACM job site! There is no better place to post all of your credit, collections, and A/R jobs. Post a job Great traffic Great talent Cost effective Search the rapidly growing resume database Database-driven Searchable by keyword, enabling you to look for specific skill sets Set up a resume search agent Resumes meeting you exact specs e-mailed automatically to you.

Sales & Contracts 111 Jennifer McCoy

Sales Dept. Direct Dial Phone Numbers Jenny 443-463-8433 Jerry 443-463-8434

In Association with Credit Today

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Page 9

e iss th ? m u o s Did y t Congres i Cred

SESSION #

National Association of Credit Management 106th Credit Congress & Exhibition

Audio CD/Tape Order Form

SESSION TITLE & SPEAKER TUESDAY, JUNE 11

Orde r Onw

L ww.c mc-n ine et.co m

$20.00 PER SESSION FOR TAPES or $25.00 PER SESSION FOR AUDIO CDs

CM9399

OPENING GENERAL SESSIONSheldon Bowles, Entrepreneur & Best-selling Author (High Five!) WEDNESDAY, JUNE 12

CM9335 CM9336 CM9339 CM9340 CM9341 CM9342 CM9343 CM9344 CM9345

SUPER SESSONChoose to Change and Win (based on the best-seller, Who Moved My Cheese?); Dr. Gary Bradt Bankruptcy ReviewBruce Nathan, Esq., Davidoff & Malito Country Risk Analysis Hans Belcsk, S.J. Rundt & Associates, Inc. Cash Flow OptimizationPatrick Connelly, CCE, Tech Data Corporation Volunteer Board Leadership Training: Best Practices in Governance (Pt 1 of 2) - Glenn Tecker, Tecker Consultants, LLC Credit Basics (Part 1 of 3) - James McIntyre, CCE, McIntyre Enterprises, Ltd. Bottom Line Impact Benefits to Trade Credit Insurance(moderator) Thomas Raspanti, Creditek Risk Management Group, LLC Capturing and Moving Customer Payments ElectronicallyTom Palie, Conversant Communications Challenges and Issues of Managing Credit in the Building and Construction Credit Arena (Pt 1 of 2) Michael Holden, Esq., Holden Brodman PLC THURSDAY, JUNE 13

CM9350 CM9351 CM9352 CM9353 CM9354

Corporate Profits and Quality of Earnings (Pt 1 of 2) - George Gallinger, Ph.D., Arizona State University Knowledge ManagementMary Rau-Foster, RN, BS, ARM, JD, Foster Seminars and Communications Legal Environment of CreditWanda Borges, Esq., Borges Donovan How to Write a Credit Line RecommendationGeorge Schnupp, CCE, IMC Agrico Proactive Portfolio/Risk Management Decisioning Through Internet ScoringMichael Banasiak, Predictive Business Decision Systems; Peter Connolly, Wright Express; Blanca Perez, Florida Power & Light; Martha Metroka, Experian Fighting E-Commerce Credit FraudAlvin Cameron, Digital River, Inc. International Credit and Risk Management: How to Get Started and Keep GoingPaul Beretz, CICE, Pacific Business Solutions Challenges and Issues of Managing Credit in the Building and Construction Credit Arena (Pt 2 of 2) - Michael Holden, Esq., Holden Brodman PC How to Do Business in MexicoIgnacio Pumarejo Gonzalez, Pumarejo, Sanchez Rochin & Marquez Leading & Succeeding in Your OrganizationBill Balduino, D&B Risk Management Practices; Patricia Clifford, D&B Winning Culture Champion (continued on page 10)

CM9355 CM9356 CM9358 CM9359 CM9360

C r e d i t N e w s M Au J p an lr y y i el 2 2 2 2 0 0 0 0 0 0 0 1 1 2 1 1 (continued from page 9) SESSION # SESSION TITLE & SPEAKER THURSDAY, JUNE 13 (continued) CM9365 CM9366 CM9368 CM9369 CM9370 CM9371 CM9372 CM9373 CM9374

Page 1 0

Working Capital: Who Owns It and How Do You Measure It? - Maria DAlessandro, CCM, CPA, Wachovia Treasury Consulting; Lloyd Straits, CCM, Northrop Grumman Understanding How Culture and Negotiating Influence the International Credit ManagerPaul Beretz, CICE, Pacific Business Solutions Advanced Issues in BankruptcyWanda Borges, Esq., Borges Donovan; Bruce Nathan, Esq., Davidoff & Malito; and Charles Tatelbaum, Esq., Cummings & Lockwood Conflict ResolutionMary Rau-Foster, RN, BS, ARM, JD, Foster Seminars and Communications Corporate Profits and Quality of Earnings (Pt 2 of 2) - G. Gallinger, Ph.D., Arizona State University Volunteer Board Leadership Training: Best Practices in Governance (Pt 2 of 2) - Glenn Tecker, Tecker Consultants, LLC Making the Decision and Collection BasicsJames McIntyre, CCE, McIntyre Enterprises, Ltd. The Electronic Credit Department: The Internet and Legal Issues Affecting the Credit ProfessionalScott Blakeley, Esq., Blakeley & Blakeley LLP Effective Credit & Collection Policies and Procedures to Manager Risk in a Dawn Economy (moderator) Tom Corbett, CreditRiskMonitor.com

To receive an order form please call Audra Wisnom at 410-785-6419 or go to www.cmc-net.com.

Credit NewsJuly 2002

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NACM Mid-Atlantic would like to thank the record number of 64 member attendees who helped make this years Credit Congress another great success!
Bruce Nathan & Bill Von Hagel discussing Bruces Bankrupcty presentation during Credit Congress in Las Vegas. Bill Von Hagel (left) & Roger Greene, Chairman (right) present Bob Long with Certif icate of Appreciation during Credit Congress for Bobs tenure on the

EMPLOYMENT HIGHLIGHTS from CreditJobsToday.com

For more information of the following job openings check out our website at www.midatlanticnacm.com and click on the employment link.
Credit Correspondent Black & Decker; Towson, MD Must be able to speak French Education background in business. Accounting or Finance a plus. Degree is not required. Good communication skills- verbal and written. Good time management skills. Ability to handle and prioritize numerous projects. Position involves working in an advanced A/R system to manage a group of accounts from a financial services perspective. They deal with any issue which can affect the A/R balance of the customer. The collector is the key contact and problem solver for this type of issue. Key Functions: Review of referred orders, solicit account regarding past due receivables, credit line approvals and reviews up to 20k, cash application when required, resolving disputes utilizing various tools and sources of information, and interacting with customer via phone and internet. Credit and Collections Representative DAP Inc.; Baltimore, MD DAP Inc., a leading manufacturer of caulks, sealants, adhesives, coatings and other home improvement products has an excellent opportunity available for a Credit and Collections Representative at our World Headquarters located in Canton's historic district of Baltimore. Responsibilities include: * Administer credit policy (Process credit applications through account research) * Create internal and external correspondence * Prepare month-end reports Individual must have 2 years experience in general accounting or credit and customer service. Excellent verbal and written communication skills as well as Word and Excel a must. Accurate entry of alpha and number data required. International Credit Manager Smyth Corporate Staffing, Phila, PA Global industrial products manufacturer seeks an international credit expert to join their well established , professional commercial credit department. The successful candidate will have a minimum of 3 years international, export credit experience, knowledge of letters of credit, export documentation and political risk analysis. Great Philadelphia location. Sal. to 65K. Degree a must. MBA a plus. Director of Credit & Collections Philadelphia, PA Reporting to the CFO, this Director of Credit & Collections will lead the overall corporate direction of the national credit & collections function. Monitor the credit and accounts receivable performance of the regions and identify areas where individual region improvement is required. Serve as a resource for regions in addressing difficult accounts receivable issues. Assist the National Accounts Group in the review and approval of new and prospective national account customers. Assist regional company management with credit review for credit limit requests greater than $100,000. Assist the Internal Audit group in monitoring region compliance with Corporate Credit & Collections policies and procedures. Will direct and oversee regional credit and collections managers throughout the U.S. Develop standard job descriptions for region credit positions including, Credit Manager, Credit Analyst, Collections Specialist and A/R Sp ecialist. Assist regions in recruiting for accounts receivable and credit positions. Work with Corporate Human Resources to develop training programs to improve the qualifications of the region credit and collections staff and to assist in raising the qualifications of all existing associates to minimum standards as set by corporate management. Develop and monitor the effectiveness of standard compensation and incentive programs for region credit associates. Supervisor, Credit & Collections Cablevision Systems Corp., Bethpage, NY Responsible for managing an annual portfolio of 265 million dollars and supervise the daily credit and collections activity for nine National and Regional ad sales divisions. Apprise of department status & seek advise on prioritizing department and company objectives. Credit & Collection issues and overall customer service-related issues. Personnel and HR related issues for staff. Outside rep agreements, collection agency and bankruptcy-related issues. Customer service related issues. Placement and management of accounts placed for collection, bankruptcy filings, legal issues related to credit and collections.

Audra Wisnom FOR THE PROTECTION OF ALL MEMBERS, NACM MEETINGS ARE SANCTIONED BY THE NATIONAL ASSOCIATION OF CREDIT

COMING EVENTS
July 15, 2002 Defense of Claims for Defective ProductsTeleconference Information: 410-740-5560 July 16, 2002 Credit Card Payments Go B2B and Legal Developments Affecting the Credit Professional Hunt Valley, MD August 12, 2002 Reduce Deductions & Control Your ChargebacksTeleconference Information: 410-740-5560 August 14,-16 2002 Fundamentals of Credit Management Hunt Valley, MD August 21, 2002 Credit Research FoundationCredit and Accounts Receivable Open Forum Embassy Suite Lakefront Chicago, IL September 9, 2002 EscheatmentTeleconference Information: 410-740-5560 September 2002 Credit Scoring & Technology New Jersey King of Prussia, PA Maryland September 12, 2002 Advanced Collection Techniques Baltimore, MD Information: 410-785-6419 September 20, 2002 Annual Golf Tournament Stewartstown, PA Information: 410-785-6419 October 2002 MD & VA Liens and Bonds Baltimore, MD October 22, 2002 General Membership Meeting Bankruptcy Updates New Jersey October 23, 2002 General Membership Meeting Bankruptcy Updates King of Prussia, PA October 24, 2002 General Membership Meeting Bankruptcy Updates Maryland