While we don’t get our traditional conference opening network event, please come enjoy a live and festive interaction with other conference attendees including our lunch hosts. As a warm welcome, those who sign up will receive a GrubHub gift card to order lunch on the conference opening day. We’ll “talk shop” on the newest credit trends and get a bird’s eye view on how other companies are handling specific credit challenges including managing business responsibilities remotely. Help us kick off an 8-week Western Credit Conference opening. And… you just might learn a thing or two ~ Surf’s Up!
Leading When Shift Happens!
David Rosenberg, Locked On Leadership
Partnered with Dun & Bradstreet
9:00 - 10:00 AM
Remember when you first stepped into that leadership role? You were very excited, a little nervous, and eager to blaze your path to glory. But now, every day feels like a battle.
You’re dealing with change at a rate you’ve never seen before. How do you drive your team when you don’t know what tomorrow looks like, much less next week or next month? The good news is this isn’t really something new. You’ve been dealing with change your entire life, just not at the pace we’ve seen recently.
This mind-altering program will provide the tools you need to not only lead during change but to thrive in it, regardless of the speed or degree of change you experience.
Bankruptcy from the Creditor's Perspective
Rod Wheeland, CCE CAE, Wheeland Consulting; Rick Weisman, CCE, Financial Manager, Graybar
9:00 - 10:00 AM
A panel of credit executives discuss approaches to working with and managing bankrupt customers, including alert and monitoring services, internal communications, holding orders, stopping shipments in transit, decisioning process for continued sales to bankrupt customers, evaluating preference exposure and negotiating with trustees and DIPs, filing claims for existing account balances and administrative claims, and ultimately completing post mortems to see what might have been be learned.
Opportunities in Order-to-Cash
Chris Rios, Dun & Bradstreet
9:00 - 10:00 AM
To navigate the shifting landscape that lies ahead, your business needs strong cash flow. Join us for a live webinar with Q&A on Thursday, November 5 to learn key strategies you can start using right away to help manage and improve cash flow, while supporting your customers and driving operational efficiencies.
Christopher Rios, Vice President, Finance Solutions, Dun & Bradstreet, will review strategies you can begin applying today to effectively manage cash flow during evolving economic cycles, including how to:
Monitor critical changes to help protect your investment in A/R
Conduct a portfolio analysis and segmentation on your receivables
Implement personalized strategies to help improve cash flow
CFDD Educational Program: A Brave New [COVID] World: Concerns and Considerations When Dealing with a Customer in Bankruptcy That Has a PPP Loan
Jason Torf, Partner, Ice Miller LLP
4:30 - 6:00 PM
The Paycheck Protection Program created a lifeline for many businesses that were struggling early in the COVID-19 environment. Some businesses were able to obtain PPP loans before filing bankruptcy to have those funds available for use during the bankruptcy proceeding. But PPP loan proceeds are intended to be used for “authorized purposes.” The guidance from Congress and the SBA, which administers the PPP loan program, is murky, at best. This raises a multitude of issues for debtors in bankruptcy that wish to use their PPP loan funds and, in turn, raises concerns for vendors that continue to do business with those debtors. Can the bank that issued the loan block use of the funds? Do the officers and directors of the debtor have reasons not to cause the debtor to use the PPP funds to pay vendors? Might vendors that are paid from PPP loan funds have to return them? If PPP loan funds are used for operations and result in revenue, does the new cash become part of the prepetition lender’s cash collateral, potentially diminishing returns for unsecured creditors? Please join Jason for an interesting and very timely discussion of a topic that impacts any vendor to a debtor in bankruptcy that has a PPP loan.
Transitioning Credit Departments - Member Panel
Rob Hanus, Credit and Collections Manager, Honigman LLP; Jackie Mulligan, North America Credit Operations & Accounts Receivable, Proctor & Gamble
9:00 - 10:00 AM
A panel of seasoned credit executives discuss how their credit departments have had to alter and adjust during these unique times. Discussions will include new strategies to engage with customers, the consideration of extended terms, increasing bankruptcies challenges, and other strategies for managing portfolios. Oddly enough, times like this also bring new opportunities to review routines, best practices, and may present ways to gain efficiencies through automation or AI. These professionals will share transitioning to managing remotely and ideas they have used within their organizations to rally their teams.
Global Credit Amongst the "New Pandemic"
Mabel Luen & Gary Mendell, Meridian Finance
9:00 - 10:00 AM
Demand for trade credit was growing even before the pandemic. And it has continued evolving in COVID-time. Now you’re facing even greater challenges. How much credit should you extend to your customers? What terms should you offer? When will you get paid? Where will you find working capital? Can you still obtain credit insurance? How much will it cost? Will it cover coronavirus risks? This presentation will discuss credit demand today and what you can do to manage it.
• How demand for trade credit has evolved in COVID-time
• Why debtors really need and want longer payment terms
• How to evaluate debtor creditworthiness in this environment
• Recognizing/managing accounts receivable nonpayment risks
• Don’t allow pandemic excuses to mask other credit problems
• How the credit insurance market has adapted to the new risks
• Best practices for obtaining and using credit insurance now
Stress Management Strategies for a 2020 Lifestyle
Erin Bair, Founder, Phoenix Consulting
9:00 - 10:00 AM
2020 has brought an unprecedented amount of disruption to everyone’s life. Some of us have found that our usual stress management strategies are no longer adequate in the wake of these changes, while others may have started the year already feeling on the cusp of burning out. We have little control over so much in the external world, but we can cultivate routines and practices that restore some of our resources internally. In this class we’ll explore ways to reduce stress and increase our capacity for resilience.
During this coronavirus pandemic, the majority of businesses have employees working from home. Even as the states begin to reopen from the mandated “lockdown”, many companies and employees alike have found advantages to working remotely. Home computers or other remote locations are more vulnerable than ever to cyber-attacks. Organizations need to build people-centric cybersecurity strategies to protect against business email compromises or email account compromises. Increasingly risky websites are being transmitted through corporate emails. The speaker will discuss some of the newest trends in cyberattacks which are continually evolving and growing. Ransomware can hit in seconds. During this pandemic, credit card use is higher than ever, and some cyber-crime groups live to target payment card information. This program has been designed to offer real-life examples and practical steps which may be taken to thwart business-fraud and cyber-crime.
Brain Snacks – Best Practices to Save You Tons of Time
Neal Otto, Jump-Start Computer Training, Inc.
Tested in the workplace, in the classroom, and refined into bite-sized videos, and available to you. With Brain Snack you get the information when you need it in digestible bite-sized pieces. One two-minute video can save you two-minutes per day for the rest of your career. Save two minutes per day and save a full workday every year – two minutes per day, ten minutes per week, 40 minutes per month, 280 minutes per year. . . one full workday.
Three techniques that will save you minutes per day:
Excel – Ditch VLookup and Index/Match, maximize Excel’s new Xlookup for easy data lookups
Microsoft Teams – locate the information when you need it quickly and easily
At Loss for Words – One technique that brings your writing from so so to wow
Full Price vs. Unpaid Balance Liens
Chris Ring, NACM National Secured Transaction Services
Some states—31 states to be exact—have provisions that limit an owner’s liability to subcontractors and suppliers to unpaid funds of the job’s original contract amount. If the owner pays the general contractor prior to the lien being filed, lien rights can be reduced or eliminated altogether. This session is designed to help construction credit professionals understand the risk associated with maintaining security on job accounts in an unpaid balance lien state and the steps they can take to protect themselves. We’ll also discuss states where owners can be made to pay twice and the importance of serving notices that would protect this right.
Credit Card Surcharging Goes Mainstream in 2020
Matt Fluegge, Worldpay & Michael Williams, United TranzActions
An unprecedented number of B2B companies are implementing credit card surcharging as it now enters the mainstream and becomes the norm. We will answer questions regarding exactly how a company might implement a compliant surcharge program. We will learn what is permitted and what is required through the Card Network regulations, discover the latest changes regarding states laws, and identify other roadblocks which might be in the way to your substantially reducing or eliminating credit
Sales Tax in 2020
Matt MacNeil, Avalara
Find out what changes are happening in 2020 for sales tax. Transaction based taxes have undergone several major changes since the Supreme Court case involving Wayfair and drop shipments. This discussion will cover:
• The current state of sales tax in the U.S.
• The states that tax remote sales and how those rules may evolve in 2020
• New requirements for marketplace sellers
• International sellers and cross-border compliance
• Impact of Covid-19 on tax collection and future government budgets.
Challenges & Solutions in Mexico Under COVID-19
Romelio Hernandez, HMH Legal
Understand the impact of Covid-19 in Mexico to this day, including limitations in the justice system, how this has impacted debtors and created challenges in debt collection efforts, all while coming up with the best possible solutions and creative strategies to position seller or lending companies at a strategic advantage to collect debt or secure ongoing or future transactions.
Liquidity as a Crucial Financial Indicator
Rod Wheeland, CCE CAE, Wheeland Consulting
In these current days of limited reserves for most every industry, the ability of a company to successfully manage its cash conversion cycle and balance sheet is crucial to survival. To the trade creditor, an analysis of this tells an important story about credit risk, delinquency, and bad debts. Join this program for a walk through how a credit professional should be watching these indicators and assessing risk associated with them.
Small Business Chapter 11: Expanded Debt Limits Under the CARES Act Means a Dramatic Increase in Filings.
Scott Blakeley, Esq. & Ron Clifford, Esq.
The small-sized business customer posed unique challenges to credit teams pre-COVID, from the lack of transparency as to their financial condition, at times limited customer reporting and their honoring invoice terms. As Covid cases resurge in a number of states forcing reclosures and shutdown orders, Covid-impacted customers are facing a liquidity crisis and insolvency risk, resulting in a dramatic increase of Chapter 11 filings under the small business chapter. The CARES ACT increased the debt limit for filing to $7.5 million. This significant increase in debt threshold means more small to mid-sized customers resorting to the small business chapter 11. What strategies may the credit team use to manage the credit risk, yet still preserve a trade relationship?
Best Supply Chain Practices When Dealing with Distressed Customers Amid COVID-19
Jason Torf, Partner, Ice Miller LLP
The current COVID-19 environment has and will continue to cause serious financial distress for your customers and supply chain problems. Now, more than ever, it is critical for you, as vendors, to understand the proactive role you can take to maximize recovery and minimize risk as more of your customers experience financial distress. This approach starts even before your customer files bankruptcy. Your customer's financial difficulty does not automatically mean you need to cease doing business together. At the same time, it also does not mean that you should take on unnecessary risk. You will hear about various rights and remedies available to enhance your rights when selling to customers in financial distress. When utilized properly, these tools can improve your status as a creditor and can enable you to continue to do business with a financially distressed customer while offering significant risk protection. Your takeaway from this webinar will be useful knowledge with a practical toolbox to help you minimize risk and maximize recovery when dealing with a financially distressed customer, often in a manner than enables you to maintain the relationship.
Negotiating for the Win-Win
Diana Crowe, Regional Director, NACM Southwest
Today’s business climate requires credit professionals to be skillful negotiators striking a balance between risk and reward when dealing with your customers. In this session, we’ll review the art of negotiation – what it is – what it is not and some tips and tricks for successful negotiating to achieve the win-win outcome.
National Trade Credit Report (NTCR) Updates and Enhancements
Gina Calabrese Sylvester, CMP, CGA; NACM Tampa
The NTCR and NACM share a common vision: Empower credit professionals with information and tools that lead them to success in their credit decisioning and credit management roles. By leveraging the data contributed by members for members, the NTCR brings fresh, targeted, relevant data to users in each report. The NTCR tools help drive efficiency with the ability to make decisions more quickly using the updated score, by identifying risk on heat maps via the Portfolio Risk Analysis (PRA) or by winning back valuable staff time by automating credit reference checks and support credit success. The Insight2 Report brings two trusted sources together for one comprehensive report, streamlining more data for credit professionals and the Industry Analysis Report provides insight into the payment behaviors of customers of specific industries. Join us to learn more about all of these enhancements and new products