CMA Daily News

It's the time of year to review potential write-offs

Not every company is of the size or type that needs to follow Sarbanes-Oxley rules of due-diligence for a write-off. If yours is, or you just want to be fully prepared consider sending your potential write-offs to CMA Collection Division. Third-party activity before a write-off helps fulfill Sarbanes-Oxleys rules for a write-off.

Place bad debts with CMA for immediate collection action. CMA will use our resources to trace skipped accounts and maximize the collection percentage. Every account collected reduces your year end write-off amount.

Download place_trace_collect.pdf

How it works:

• Identify the accounts that are potential year-end bad debt write-offs.
• Place them with CMA Collection Division using anscers.com or Download place_trace_collect.pdf Place and your Trace is FREE!
• CMA will Trace any skipped accounts, and look for assets on accounts with a judgment.
• CMA will collect on as many accounts as possible. For those we can not collect, you will receive a closing report that satisfies the due diligence requirements for a write-off according to Sarbanes-Oxley.

Place, Trace, Collect is a win-win situation for you. Your account will be collected, or you will be protected by performing due diligence before claiming a write-off.

To find out more about CMA Collection Division go to creditservices.org, anscers.com

Kill Junk Mail - Protect Your Identity

TechCrunch Blog has posted information about a new website launching tonight set to help you kill junk email.

Click through to the post.

They also mention several other sites for mail reduction and identity protection.

Improving Written and Verbal Communication

You may not have given a lot of thought to it, but your oral and written communication abilities have a tremendous effect on your professional success. In today's credit industry, communication skills are as important as technical know-how: They influence how others perceive you as well as your ability to accomplish tasks. In fact, members of the Financial Leadership Council—a distinguished group of finance executives convened by Robert Half International—recently identified communication skills as an essential interpersonal ability for today's finance and credit professionals.

The council—made up of executives from business and private industry, public accounting, academia and professional associations—recently met to discuss current and future challenges in these fields and brainstorm potential solutions. Following are some tips from the council on mastering oral and written exchanges as highlighted in an extensive report, Charting the Future of the Accounting, Finance and Audit Professions:

• Plan ahead. Before writing a report or email, consider what you'd like your message to accomplish. What should recipients feel, think and do after they read it? The response you receive—or don't receive—is a great way to measure your communication effectiveness. If you don't get your intended results, study the message to pinpoint where you may have been unclear.
• Spelling counts. Your electronic messages can be easily forwarded to others, so be sure that your communications are professional and polished. Though IM and email tend to encourage informality, it's still essential to adhere to punctuation, spelling and grammatical rules. Also, avoid any acronyms that some members of your audience might not understand.
• Find a mentor. Even if you feel confident in your abilities, a more seasoned professional can help you take written messages and oral presentations to the next level. Seek a mentor who is known for his or her diplomacy and effective communication skills. Such a person can be invaluable in helping you determine the styles and avenues that are consistent with the culture of your particular organization. You can learn, for example, when it's best to communicate via email or when a personal or telephone meeting would be most appropriate.
• Volunteer for presentations. The most effective professionals can communicate confidently with clients as with colleagues. To work on these skills, you could volunteer to make presentations at work, join a group such as Toastmasters or take on a speaking role within your local industry association.

Source: Robert Half Finance and Accounting and Accountemps

NACM Western Region Credit Report Nov 1, 2007

Success is the NACM Western Region Affiliates joining forces to create a powerful business credit report. Sharing data, from participating affiliates, we have created a rich business credit report for a great member price.

Members selling into the Western Region will find this combined data invaluable to your credit decisions. Many local members have a growing sales territory, by creating this business credit report your local NACM Affiliate is growing with you.

NACM Western Region Affiliates—joining forces for your success!

Available November 1, 2007 on anscers.com.

Credit Research Foundation 2007 Resource Guide

Update: 2:25 pm I put the wrong link in the post, my apologies. Here is the correct link.

I have been surfing the net a bit this morning preparing for my talk at CFDD tonite., and found a great item on the CRF site.

A 98 page resource guide for the Credit Manager in PDF format. Click here to access.

The only problem with it is that is does not list NACM affiliates as resource providers - but it does give you many choices for everything from credit reports to dispute resolution.

Too Casual for Comfort?

While employees have embraced dress-down Fridays and casual work environments, a recent survey suggests that workers might not want to hang up their business suits just yet. Ninety-three percent of managers polled by Robert Half International said a person’s style of dress at work influences his or her chances of earning a promotion. So if you’re angling for the top spot, dress like the person who’s in it. Here are some additional tips for choosing the right workplace wardrobe:

• Put your best foot forward. Keep your shoes polished and in good condition.
• Get a brand-new bag. Invest in a quality briefcase, messenger bag or purse, since this item is visible and used daily.
• Don’t overdo it. Less is more when accessorizing. Steer clear of distracting jewelry or accoutrements. 
• Keep scents subtle. People shouldn’t catch a whiff of your perfume before they catch sight of you. You want to be known for your expertise, not your choice of fragrance.
• Have a spare. Even on casual days, keep a jacket and extra hosiery handy. If you’re called into an important meeting or asked to greet a client, you’ll be prepared.

One thing to remember about dressing up for work: When you look good, you’ll feel more confident. And that confidence will be reflected in your performance, something your manager will be sure to notice.

Source: Robert Half - workvine.com

Selling Your Company on the Value of WRCC

You found an awesome educational event that you want to attend, now you need to sell your boss on the value to the company.

Attached is a flyer that outlines that average training cost per employee- per year vs. the training cost at WRCC. Download wrcc_tell_the_boss.pdf

Please send your feedback or any other thoughts on how to sell the conference value to the Boss.

California's Fair Debt Collection Practices Act

Here is a great link to the Office of the Attorney General - talking about the Consumers right under the California Fair Debt Collection Practices Act.

This act protects consumers transactions but as we find with other consumer protection laws, businesses and lawyers tend to use these laws to defend themselves also.

Business Videos for Education and Motivation

Here is a link to some of the top business related videos on You Tube. Great content from some of the top business writers today.

http://www.squidoo.com/videosthatchange/

cc: Prelegal Department

Members of a CMA Industry Credit Group exchanged a Hot Tip that increases the response to a past due demand letter.

At the very bottom of the letter add; cc: Prelegal Department

This cc: sends the message that their account is under review for further action.

What do you think of this technique? Please click Comments under this post on the CMA Daily News site to respond.