Jul 25, 2016

Posted by & filed under Business Credit Journal, Certification, Education.

Marsh,-Tawnya_MG_4203-on-background-copyBy: Tawnya Marsh, CCE, Columbia River Knife & Tool

What is GSCFM? I’m sure most of you reading this article already know what GSCFM stands for but just in case, the acronym is defined as the Graduate School of Credit and Financial Management. For me, GSCFM represents a plethora of education and opportunity.
I just completed my first year on the beautiful Dartmouth Campus. The education that NACM provides for this program is unsurpassed. While you only spend two weeks in class I felt like I spent an entire semester at Dartmouth with all of the information we received. The instructors that NACM pulls for this program are amazing. Topics from Cash Flow Analysis to Corporate Strategy, Public Speaking, and finally flowing into a program on Body Language, you really do touch all aspects of being a successful credit manager and leader.… Read the rest

Dec 14, 2015

Posted by & filed under Credit, International Business.

With the amount of fraud and terrorist group activity, U.S. government regulators as well as those from other established economies are watching more closely than ever for illegal activity. Businesses involved in global trade can easily get wrapped up in such activity, and it’s often by accident or for not taking that extra step of due diligence when a red flag arises. Most familiar with government agencies and regulators strongly believe that perfection is not the expectation, but honest and intentional effort and due diligence is. Perhaps the most profitable action is avoiding the mistake andthe regulatory ire that comes with the wrong business dealings. In short, know what not to do. The following are some mistakes to avoid:

Failure to Know Popular Transshipping Countries
Businesses or individuals in virtually any country can do transshipping, or reshipping, by posing as an end user who will then flip the goods, especially those with security sensitivity or with a military use, to buyers in nations where such exporting activities are banned.… Read the rest

Dec 14, 2015

Posted by & filed under Credit.

A well-thought-out credit policy focuses a company’s risk-based decision making and is a highly-regarded guide for conducting B2B credit-related business by all departments—even sales. In order to establish an effective credit policy, a credit department must first have an effective mission statement. Without this strong, secure base, anything built upon it is prone to instability or collapse. As such, the following are important considerations when crafting your credit department’s mission statement.

Risk Tolerance: A company needs to take an honest look at where it realistically wants to be positioned in the marketplace. In doing so, it also has to consider out how much risk will be tolerated to get there and whether top officials and company financiers are willing to go to such a level to make that happen.… Read the rest