D&B Credit: Maximize Insights from Credit Reports
From: Dun and Bradstreet You can have all the data in the world, but without analytics and insights, you won’t have much. As with data, the value of a credit report lies in the users’ ability to extract information from it, which can often be as difficult as reading a foreign language. Uncovering truth and […]
How Much Credit Should You Grant Your Customers?
Credit professionals field questions daily from their sales department, senior management, customers and others along the supply chain. However, one of the most important questions for creditors comes from themselves. “How much credit should I grant my customer?” Pam Krank, president with The Credit Department Inc., reviewed this question in detail this month during a […]
CFDD & NACM: Supporting Both Organizations
Republished from the CFDD National Newsletter Having served on both my local NACM Affiliate Board and CFDD Chapter’s Board, you might think I would have a unique perspective on both organizations, but actually, there are quite a few CFDD Portland Chapter members, past and current, that have served on both boards. We have a uniquely […]
The Risky Business of Extending Credit to Ch. 11 Debtors
Once a thriving toy retailer, Toys R Us is no more. Debt struggles repeatedly struck the popular chain store in 2016 and led the company to hire a law firm for corporate restructuring the following year. In September 2017, the century-old New Jersey-based company filed for Chapter 11 bankruptcy, only to decide to liquidate in […]
General Contractors are Enforcing Statutory Right to Inspect Subcontractor Payroll Records
Written by: Christopher Ng Yes, California’s Assembly Bill 1701 was a doozy. For those of you not yet familiar with the new law, to make a long story short, AB 1701 makes a direct contractor (California speak for “general contractor”) jointly liable for the unpaid wages, fringe benefits, or other benefit payments or contributions of […]
Why Contribute?
The main reason is without trade data, you would be missing a very important piece of information to assist you in making your credit decisions. Credit is a privilege. The decision to extend credit is based in part on current, factual information, which includes that payment history. Increase leverage with customers Reduce fraud Reward prompt […]
New Federal Law Allows Consumers to Place Free Credit Freezes And Yearlong Fraud Alerts
Starting September 21, 2018, consumers who are concerned about identity theft or data breaches can freeze their credit and place one-year fraud alerts for free. Under the new Economic Growth, Regulatory Relief, and Consumer Protection Act, consumers in some states – those who previously had to pay fees to freeze their credit – will no […]
Five Tips for Successful Data Monitoring
Is bad data negatively impacting your business? What if you could identify data quality issues before they wreak havoc on your organization? You can with a proactive data monitoring solution. Here are five tips for developing a strategy for round-the-clock monitoring. Know your starting point: Benchmarking your data with a full volume data analysis is […]
Credit Manager and Debtor: A Psychological Dance
“Nothing involving human relationships is clear or simple,” said Kelly Jameson, Ph.D., a psychotherapist and presenter at NACM’s 122nd annual Credit Congress in Phoenix last month. A romantic relationship between human beings is a complex “psychological dance” comparable to the relationship between a credit manager and a debtor. During an exploration of the nine stages […]