by Nancy Seiverd | Oct 13, 2020 | Feature Article
Last year after I wrote the article, What I Look for in Choosing a New Credit Manager, I have continued to receive inquiries from credit professionals asking for my thoughts, especially in this economy, about changing jobs. Bearing in mind that I’m not...
by Nancy Seiverd | Sep 9, 2020 | Feature Article
I received a call the other day from the president of one of our clients to get my thoughts from a credit and collection perspective on what to do with a shipment that their customer put on hold. Our client, a specialty plastics film manufacturer, received an order...
by Nancy Seiverd | Aug 11, 2020 | Feature Article
As most of you have already noticed, bankruptcies are on a dramatic rise. According to the American Bankruptcy Institute, it’s estimated that in 2020 there will be about 7,300 total commercial filings. This is a 30% increase over 2019, in which there were 5,519...
by Nancy Seiverd | Jul 14, 2020 | Feature Article
Not to sound cliché, but extraordinary times call for extraordinary measures. With the economy struggling, and even customers that we thought were “built to last” experiencing tight budgets and cash flow problems, we never know who the next serious past due account...
by Nancy Seiverd | Jun 9, 2020 | Feature Article
Like many of you, I’m taking several deep breaths as the business community carefully moves forward from a self-imposed 2-3 month hibernation. Stepping out carefully to adhere to the working normal, we are grateful for still being able to fully support our...
by Nancy Seiverd | May 12, 2020 | Feature Article
In these trying and emotional times, when our lives have been horribly disrupted by health and financial challenges, we still need to get up every day and do things to retain some semblance of normalcy. Some of what we do may be new and refreshing, and other...
by Nancy Seiverd | Apr 7, 2020 | Feature Article
Dear Clients, Colleagues, and Friends,Without question, whether it’s customers or suppliers, everyone is concerned about their business and how other businesses may affect them. With the latter in mind, I am pleased to inform you that as your collection...
by Nancy Seiverd | Mar 18, 2020 | Feature Article
For the month of March 2020, I was planning on sending out our regular newsletter but in view of the Coronavirus pandemic, I thought it would be more appropriate to address this issue with some thoughts and ideas for your consideration. The first thing I...
by Nancy Seiverd | Feb 11, 2020 | Feature Article
As a credit risk management professional, I’m often requested by clients to share my thoughts on various credit risk management issues. One topic that recently came up was whether the company should centralize each global credit operation into one very large hub in...
by Nancy Seiverd | Jan 7, 2020 | Feature Article
As tax season is now upon us, there’s often the opportunity for accounting firms to take on new business clients. Without question, it’s always nice whenever a new client knocks on the door and there’s the hope that a small initial tax return can gradually evolve into...
by Nancy Seiverd | Nov 12, 2019 | Feature Article
It’s so nice to have customers you feel are good as gold. They’re the ones who’ve been with you for years — maybe even generations. They order on a regular basis, in large amounts, and always pay on time. They’ve contributed to your company’s long-term success and...
by Nancy Seiverd | Oct 8, 2019 | Feature Article
From time to time a few of our clients will find themselves without a credit manager and have reached out to CMI for assistance in finding a replacement. This request is not an easy one since by virtue of its products, services, size, number of employees, and the...
by Nancy Seiverd | Sep 10, 2019 | Feature Article
For many companies, deductions continue to be a serious problem that are costly, cause confusion, and impact customer relationships. Usually the reasons for deductions fall into one of the following categories: 1) Pricing errors between the invoice and the purchase...
by Nancy Seiverd | Aug 13, 2019 | Feature Article
Unless you’re a company that is extremely cash rich or can turn on the credit line spigot with your bank just by clearing your throat, most companies from time to time will have a crimp in their cash flow. For some companies, this is a short and temporary...
by Nancy Seiverd | Jul 15, 2019 | Feature Article
As originally published in the Credit Research Foundation 2Q 2019 CRF News. Have you ever thought about from where the concept of benchmarking originated? Like most people, I never really gave it much thought. But interestingly, way back in the days before mass...
by Nancy Seiverd | Jun 19, 2019 | Feature Article
In the Wild West days of collections, collectors went out to the customer’s location to “persuade” them to make good on their payment obligations. Unfortunately, the term “persuade” didn’t always have the best of meanings and other terms, such as “intimidate and...
by Nancy Seiverd | May 16, 2019 | Feature Article
If every company manufactured and delivered their products and services perfectly all the time, the courts would be a very quiet and boring place to work. The reality however is that commercial disputes come in all flavors, colors, shapes, and sizes in which the sheer...
by Nancy Seiverd | Apr 17, 2019 | Feature Article
As many of you already know, the last step in the collection process on a commercial delinquency is the filing of a suit against the debtor, especially when the balance due is large and there remains some viability of collecting. Although every effort is taken...
by Nancy Seiverd | Mar 18, 2019 | Feature Article
With all of my years in the credit and collection field, I have probably spoken to thousands of debtors of every kind. Without question, it has been a tremendously valuable lesson in understanding the psychology behind the payment of money. From this life-long...
by Nancy Seiverd | Feb 18, 2019 | Feature Article
Like Ernie is discussing with Bert, including interest on past due accounts is not always an easy idea to implement. As a case in point, not too long ago our office received a claim for $85,000 for the sale of electrical supply products. In reviewing the statement of...
