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2nd ANNUAL MAXIMIZING CREDIT AND COLLECTIONS SUMMIT
Conference held in Toronto on January 8, 9 & 10, 2007
Chairs: David J. Santoro Jr., Accenture; Mitch Stolarchuk, FCI, Finning (Canada); Monique Cliche, Pfizer Consumer Health Care; Murray Pollard, Xerox Canada Inc.
CD-ROM: Approx. 10 hours of video presentations
To purchase, please contact Federated Press.
OPTIMIZING CREDIT AND COLLECTIONS
Panel: Future trends for maximizing the effectiveness of credit and collections
David J. Santoro Jr., Accenture; Steve Jackson, Husky Injection Molding Systems; Prabhat Chatterjee, Quality Meat Packers Limited; Clark Santos, Knowledge Solutions LLC
- How to take credit and collections to more of a strategic level
- Key motivating factors in managing the collections center
- Meaningful benchmarkming strategies: how to make a determination as to where your performance is today and where it should be in the future
- Streamlining internal processes: where there are opportunities to make improvements
"If you have less bad debts, that means your profit is higher, and that is our motive."
Video: 39 minutes
Case study: Leveraging the internet and e-commerce to maximize credit and colletions effetiveness at Livington International Inc.
Ricardo Forero, Livingston International Inc.
- E-commerce criteria for optimizing the credit function
- Protecting the assets of the company while reducing bad debt levels
- Using the Internet to build client relationships and offer easy payment options
- Challenges when deploying e-commerce across global operations
"E-commerce is fast becoming a useful tool for maximizing a company's worldwide reach, improving sales execution, reaching clients, building profitable customer relationships and slashing operational costs."
Video: 31 minutes
Training and motivation to empower collection staff
Fernando Heleno Jr., Scotiabank
- What skills are needed to hire a talented staff
- How to prepare for an interview
- Keys to leading and developing staff
- The results of a successful coaching relationship
"Seek out coaching opportunitie – it should not just be on a weekly meeting basis."
Video: 46 minutes • Overheads • Paper 10 pgs. (2,017 words)
Expanding the influence of the credit organization throughout the business
Medeleine Féquière, Abitibi-Consolidated Inc.
- Forging good communication lines between credit, sales, logistics, invoicing, customer service and treasury
- Evaluating risk, reward and alternatives, based on the entire customer portfolio
- Involving credit in the customer relationship through customer visits
- Educating credit staff on their strategic role in the organization
"Today's leading credit departments are becoming valuable business partners working with other departments to boost the bottom line and enhance customer relationships."
Video: 33 minutes • Overheads
EFFECTIVELY MANAGING YOUR CUSTOMERS
Reducing costs and improving credit control through customer self service options
Dave Love, Grand & Toy Ltd.
- Understanding the cost realization and reach in electronic self-service and billing
- Know what it costs to collect your accounts receivables
- Developing performance measures to quantifying the benefits of introducting technology to the credit management process
- Grand & Toy's latest e-invoicing initiatives
"Together, doing what it takes to help our customers be their productive best."
Video: 36 minutes • Overheads
Case study: Using credit scoring to establish commercial customer credit limites and manage risk at Finning (Canada)
Mitch Stolarchuk, FCI, Finning (Canada)
- Developing the scoring framework for mercantile (commercial) credit granting
- Developing qualitative scoring
- How can historical trends be included in scoring?
- What kind of decision progress can be devised?
- Using credit scores to trigger collections strategies
"Sort your scored customers from best to worst and use this analysis to establish a Cut-Off Score which should be documented in your credit policy.”
Video: 42 minutes • Overheads
Creditors' rights and remedies
David R. Byers, Stikeman Elliott LLP
- Legal framework for cresit and collections
- Creditors' rights and remedies: informal remedies for creditors; formal, legal and litigious remedies; and Technicalities of recovery
- How does insolvency affect your rights as creditor and how do you effectively exercice these rights?
"Generally, fraudulent conveyance laws allow creditors to set aside transactions where a debtor has transferred property for nominal consideration with the intent to defeat creditors."
Video: 37 minutes • Overheads
Remedies of a secured creditor: A bailiff's perspective on what actually happens from start to finish
Earl Boeko, Sterling Bailiffs Inc.
- Application of the Personal Property and Security Act (PPSA) to consignment goods and passing of title to goods shipped
- Retaking or repossession of goods ans subsequent notice of intention to sell
- Self remedy available under the PPSA
- Notice to other secured creditors
"The purpose of the Personal Property and Security Act (PPSA) is to allow a seller to register its interest in the personal property of a debtor in order to secure payment of the debt and to establish a priority position in the collateral."
Video: 37 minutes • Paper 44 pgs. (9,367 words)
MANAGING RISK
Aligning financial risk analysis and credit limits to streamline the order to cash processes
Monique Cliche, Pfizer Consumer Health Care
- Aligning financial risk analysis and credit limits to streamline the order to cash processes
- Managing credit risk through implementation of key policies, work processes and organizational design
- Credit scoring method based on value weight assigned to the qualitative and quantitative element in your credit decision process
- The benefits, risks and drawbacks of financial risk management and customer segmentation
"Risk management techniques can also streamline your order cash processes, allowing you to speed-up the credit decision process, control your debt and prioritize your efforts."
Video: 45 minutes • Overheads
Managing credit and collections performance in a global environment
Eric Mukandila, Fasken Martineau DuMoulin LLP
- Successes and challenges of managing an international AR portfolio
- Managing credit and collections across multiple locations and cultures from a centralized location
- The financial perspective for a law firm
- Managing complex global credit risks and credit limits management
- Dealing with different labour laws for credit and collections staff
"In a global economy, a credit manager or director has to be cogniscent of the legal collection framework so as to ensure conformity with legislation of countries where clients are located."
Video: 27 minutes • Overheads
Legal framework for cross-border, international and cross-provincial collections
Neil Abbott, Gowlings LLP
- Reciprocal enforcement I the U.S., UK, and other commonwealth countries
- Enforcement of foreign judgements in Ontario
- Choosing your governing law in a credit agreement
- Security for costs for foreign litigants
"One of the keys to effective cross-border, international and cross-provincial collections is to have a firm knowledge of the different laws of credit and collections."
Video: 51 minutes • Overheads
Using credit insurance to minimize accounts receivable risks
David Dienesch and Neill Cooke, Aon Reed Stenhouse Inc.
- Why use credit insurance?
- Benefits: as an insurance tool, sales tool and financing tool
- Using credit insurance to demonstrate sound corporate governance
- Companies most inclined to purchase credit insurance
"Credit insurance is an insurance policy that covers the losses associated with unpaid receivables."
Video: 48 minutes • Overheads
RE-ENGINEERING CREDIT AND COLLECTIONS TO FACE THE FUTURE
Credit decision automation using eCredit
Anna Yu and, Xerox Canada Ltd.; Dan Dougherty, eCredit
- Effective decision automation: impact across the organization
- How the organization benefits speed, consistency, accountability, efficiency and effectiveness
- 5 components of effective decisioning: Origination, information gathering, scoring, decisions, and actions
- What does eCredit do?
"Best practice for decision process: keep it simple at first and fine-tune the process as historical information is collected."
Video: 11 minutes • Overheads
When and why should yu outsource your collection process?
David J. Santoro Jr., Accenture
- Benchmarked savings associated with credit and collections outsourcing
- Upstream dependencies and considerations in outsourcing the end-to-end order to cash process versus only collections
- Technology considerations in terms of workflow, reporting and collector performance management
- What to look for in a BPO provider
"Everybody has a wish list, a realistic list and we always try to work within the parameter of the system. Oftentimes IT people tend to forget this."
Video: 48 minutes
Using loan workouts and alternative collection strategies to enhance bad debt administration
Murray Pollard, Xerox Canada Inc.
- Early detection of problematic loans
- Using loan workouts: why are the needed?
- Evaluating the security of the loan
- Determining the root causes underlying the problem
- Customer retention: collections as opportunities for future business
- Monitoring the borrower
"A loan workout is the process of finding a way for the borrower to pay back a defaulting loan in a way that is acceptable to the lender."
Video: 32 minutes • Overheads
The debt buying market in Canada
Charles McLean, RecoverCorp Inc.
- Debt buying as an infant market in Canada compared to the U.S.
- Reasons for market hesitation: fears of poor public perception, loss of business, lack of need for capital
- Pricing issues
"Even without the major banks the market continues to grow with sales in the retail, telco and sub prime lender markets."
Video: 22 minutes • Overheads
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