18092. Linking Business Strategies to Budgets
Speaker: David Osburn, David L. Osburn & Associates, LLC
This seminar explores the relationship between business strategies and budgets. The
importance of developing a clear strategy or business plan will be emphasized, including the vision statement, mission statement and overall company objective. Additionally, the evolution of the company’s strategy and role of the board of directors in crafting
and later executing the strategy through the CEO will be reviewed. This seminar will
also cover the evaluation of the company’s various business units from a budgetary
standpoint and how this analysis should tie directly to the company’s strategic plan.
Further, compensation issues, corporate culture and ethics as they impact both strategy and budgets will be discussed.
18093. A Look at Credit Applications
Speakers: oni Drake, CCE, TRM Financial Services, Inc. and
T
Lynnette Warman, Esq., Hunton & Williams LLP
Your credit application can be one of the most useful tools in your collection “arsenal.”
This session examines the credit application from not only a credit standpoint, but also
from a legal aspect. All of the information that should be included in a credit application is defined. Participants will learn how to not only make your credit application a
source of information, but how to utilize it to create an effective contract between you
and your potential customer and how you can strengthen your position in a collection
suit or even in bankruptcy when an effective credit application is presented.
18094. Frazzled, Floundering and Frustrated:
How to Manage Time and Stress B
Speaker: Robert Shultz, Quote to Cash Solutions (Q2C) LLC
What is stress and how can it be managed? This session addresses these questions
from a 360-degree approach. Specific relaxation and stress reduction techniques are
presented. Managers learn actions to take to reduce their staff’s stress as well. Effective
time management practices are reviewed, such as prioritizing, managing interruptions,
managing email, participating in effective meetings and better managing your calendar.
The session will explain how procrastination can be a silent killer and how to implement
the Five C’s of Goal Setting in your life. After taking a self-test to gauge your stress level,
a detailed checklist for action is offered to help participants become less frazzled.
18095. Those With the Best Risk Management Strategy Win
Speaker: Vernon Gerety, Ph.D., VGAdvisors LLC
This session discusses how successful companies use risk management techniques
to survive and succeed during the economic ups and downs. Using concepts from
Modern Portfolio Theory, this session explores how successful credit and collection
organizations manage their customers’ relationships, similar to how a Wall Street portfolio manager picks stock. Each customer relationship is evaluated based upon the
understanding of the risk versus reward trade-off and using diversification to control
systematic risk.
18096. Standby Letters of Credit
Speaker: Buddy Baker, Fifth Third Bank
(This session is an encore of session #18067.)
Many people think of standby letters of credit as nearly equivalent to cash. What they
don’t realize is that many letters of credit don’t get paid when called upon. Most often
this is due to misunderstanding how standbys work and then failing to present the documents correctly; indeed, occasionally it is not even possible to present the documents
that are called for. Sometimes it is because the bank that issued the standby is ordered
not to pay by a court either because the customer has gone bankrupt and payment is
deemed a preference (exactly what you thought the standby was protecting you against)
or because the customer claims you have no right to the payment and has managed
to get an injunction. And sometimes it is because the bank that issued the standby has
been declared insolvent and the regulators (e.g., the FDIC) have repudiated the standby.
This session will take an in-depth look at how standby letters of credit work and the
reasons they sometimes don’t. Learn how to protect yourself against non-payment.
Continuing Education Unit (CEU) Information
The Education Department of the National Association of Credit Management®
has reviewed the educational content of the sessions on the Credit Congress program. Participants attending these group-live sessions wi X\