COVID-19 has caused us to cancel TWO of our annual Forums this year, but the CRF team is still committed to delivering the valuable information that was planned for those events. With that in mind, we brainstormed ideas to deliver those sessions and more in a timely and convenient format for the community. The result is the first ever CRF Week!

What is CRF Week? Five days of pre-recorded, high-end education sessions will be posted online for easy access. This allows us to share the important topics and content that we had planned to deliver at our March and August Forums.

How do I participate? Each day, several sessions will be shared on our website. Simply login to the site to access the sessions. Since the sessions are pre-recorded and posted online, you can access them at any day and time that is convenient for you.

What is the cost? All sessions will be available AT NO COST to CRF MEMBERS! Non-Members can gain access to all of the recorded sessions for a fee of $350.

Schedule

Monday, 7/20 Tuesday, 7/21 Wednesday, 7/22 Thursday, 7/23 Friday, 7/24
Cannabis – A Review of Policy, Practice & Banking Policy, Strategy & Practices in Bring Employees Back from a Remote Working Environment (Part 1) Policy, Strategy & Practices in Bring Employees Back from a Remote Working Environment (Part 2) How Digital Transformation of Accounts Receivable is a Catalyst for Becoming a Winning Credit Team The Latest Payment Update Provided by The Federal Reserve
Customer-Centric AR: Making Cashflow & Customer Relationships the Priority The Economic, Consumer and Practitioner Impacts Caused by COVID-19 Creating Working Capital Opportunities Through Invisible Banks Social Media Strategy in Collections A Round Table Discussion on Issues Impacting Creditors in a COVID-19 Environment
Managing Multiple Accounts Payable Platforms Assessing Your Order-to-Cash: Processes & Technologies Private Equity in a Post-COVID Environment Maintaining a Focus on Bad Debt Reserves – an Update on CECL Credit to Cash – a Case Study in the Practice of Automation
Maintaining Credit Relevance During a Recession Antitrust for the Credit Professional How to Monitor a Remote Workforce for Productivity Scoring Models  
How to Protect Your Energy Level as We Transition Out of the COVID-19 Pandemic        

 

Session Abstracts

Cannabis - A Review of Policy, Practice & Banking

How Do We Sell, Collect, Apply and Mitigate Risk in the Cannabis Space? This discussion addresses, the most current operational issues and practices of the order-to-cash cycle related to this industry segment. Our experts will share their points of view with a lens on practitioner, market and banking issues as it applies to cannabis.

Managing Multiple Accounts Payable Platforms

The more accounts payable platforms your customers use, the greater the impact on how you send invoices and receive payments. This session offers a panel discussion that will focus on the trends behind the growing use of A/P platforms and strategies to address their impact on A/R processes. 

Customer-Centric AR: Making Cash Flow & Customer Relationships the Priority

Not long ago, all but your biggest customers had to submit to your invoicing and payment processes. Now, due to changing expectations, shifts in workforce demographics and the “new normal” of remote working, even your smallest customers demand an invoicing and payment experience that works for them. We’ve entered the era of Customer-Centric AR. In today’s current climate, however, many companies are facing the reality of having to prioritize cash flow over customer relationships. This discussion will focus on the current state of AR and how to balance short-term needs with long-term stability. You’ll learn: what a customer-centric approach to receivables is; how to choose between cash flow and customer relationships; what economic and lifestyle factors are driving this change; real examples of organizations who have transformed.

Maintaining Credit Relevance During a Recession

Business Continuity During a Recession — Credit Management in Times of CrisisThis session will look at important lessons about business continuity in times of crisis. How prepared were businesses for this unpredicted recession and changes unleashed by the COVID-19 crisis? What were the key impacts on global business? Which key indicators were/will be important drivers to recover from the recession? And what steps can businesses undertake to swiftly prepare and react in case of signs that may lead to a significant downturn in the economy.

Policy, Strategy & Practices in Bringing Employees Back From a Remote Working Environment

The Coronavirus threat will still be active when many employers begin to return their employees to the job. What will you do when:

  • Employees refuse to return?
  • When some have been sick but not diagnosed?
  • When social distancing measures remain in place?
  • When some parts of the country (or even your city) are “more open” than others?
  • What should employers do to prepare?  

Two experts will guide employers through the snares of legal, logistical and practical considerations as the nation returns to work.

How to Protect Your Energy Level as we Transition Out of the COVID-19 Pandemic

A Personal Development Offering: There is a lot of information out there on how to protect ourselves physically (hand washing, masks, etc.) and financially (PPP loans, unemployment, etc.) but not a lot of information on how to protect ourselves mentally and emotionally. This program is designed to fill that gap. As we cycle through this pandemic, it’s more important than ever to take a purposeful approach to your energy management. The session will provide tools and strategies to help you create calm, build resilience, and set a positive example for your team or organization.

The Economic, Consumer & Practitioner Impacts Caused by COVID-19

Change Management Needs post Covid 19 – This session addresses issues associated with economic and customer realities through a panel of practitioner and subject matter experts.

Assessing Your Order-to-Cash Processes and Technologies

As we continue to evolve across the globe into what many are now calling the “new normal,” many businesses have been and are facing a set of new challenges forcing them to evaluate their overall financial health and the tools and processes that contribute to it. This session will address key identifiers for assessing your current order-to-cash processes and how crucial technology is in adapting to this new normal. Key topics include: A single source for customer truth – how to build a consolidated view of global receivables; metrics for managing the challenges of COVID-19 and other credit risk exposures; best practices in KPIs and reporting; ERP system vs. bolt-on solutions: the pros and cons; how to manage around IT constraints.

Antitrust for the Credit Professional

Antitrust law has a great impact on best practices credit professionals should follow when making credit decisions and obtaining information from – and communicating with – other credit professionals. The speakers/authors of the recently published document “A Business Guide to Antitrust for Credit Professionals” prepared for Credit Research Foundation, will discuss:

  • How credit professionals can navigate within the bounds of antitrust law, including the Robinson Patman Act, when making their credit and other business decisions
  • What matters can and cannot be discussed and what information can and cannot be exchanged with other credit professionals, both one-on-one and in a credit group or other group setting
  • The applicability of antitrust law to decisions concerning joining and participating in an involuntary bankruptcy petition and serving on an unsecured creditors’ committee
  • The interaction between responding to customers’ requests for extended terms and antitrust law
  • The potential consequences of antitrust violations, and how to protect your company from those consequences.
Creating Working Capital Opportunities Through Invisible Banks

Today’s financial supply chain is complex and inefficient. It’s a fact that traditional financial intermediaries, whether they are banks, asset-based lenders, factors, or others, simply don’t have visibility to key inputs of the working capital life cycle. Today, there are innovative technologies designed to solve this fundamental problem. Learn how companies can optimize their working capital through financial technology solutions.

Private Equity in a Post-COVID Environment

Industry experts will discuss the impacts of Private Equity (PE) in a post COVID-19 environment.  This presentation includes an overview of the current landscape of PE, trends in the marketplace and impacts of PE through the lens of the credit executive.

How to Monitor a Remote Workforce for Productivity

For most companies, having an entirely remote workforce is uncharted territory. With COVID-19, companies were not prepared to be thrust into this situation and were wholly unprepared. Beyond individual capabilities of working from home, management of remote teams introduces a new dynamic that many Credit and Collection managers have never had to learn before. There are a number of challenges faced by this new reality including:

  • Technical infrastructure
  • Communication
  • Scheduling
  • Dealing with decentralized systems and processes
  • Most importantly – productivity tracking

For years, individuals have been asking management for the ability to work remotely as a way to provide better work/life balance. In most companies however, this was seen as an undesirable, counterproductive move. Being remote does not have to impact the bottom line. In fact, it can have the opposite impact. With specialized solutions designed to improve collaboration, effectiveness and efficiency, managers can gain visibility to productivity metrics while also providing greater employee satisfaction with the great equalizer of work/life balance, working from home. During this session, the presenters will discuss how to overcome the common challenges and how teams can operate successfully in the “new normal.” 

How Digital Transformation of Accounts Receivable is a Catalyst for Becoming a Winning Credit Team

This session discusses how a digital transformation of Accounts Receivable can support your organization’s drive to becoming a winning credit team.  An experienced credit champion will share a real-life example of how one can achieve a full-payment processing rate of 97% and improve customer satisfaction.

Scoring Models

This session discusses how B2B scoring has evolved from basic benchmarks into powerful decision support and portfolio management tools. The presentation describes the progression from disparate agency ratings to powerful multi-variable and trend-based scoring models to identify account and portfolio risk; and provides some thoughts on where it goes from here.

Social Media Strategy in Collections

Social Media and Its Impact on Contemporary Collection Activity – This session will offer a best practices discussion on the application and impacts of social media in today’s collection processes. It will discuss and define sources of data and how to successfully incorporate this opportunity into your capabilities.

Maintaining a Focus on Bad Debt Reserves - An Update on CECL

Join Dr. Steve Isberg, Senior Research Fellow at CRF and Chair of the Accounting Department at Towson University, for an update on the FASB ruling for Current Expected Credit Loss (CECL). Steve has done extensive research on the subject and will share his thoughts on his publications and findings as it relates to actions credit departments can be taking against the same.

The Latest Payment Update Provided by The Federal Reserve

B2B Payment Efficiency: Now Is a Critical Time for ChangeFor years, challenges persist that prevent greater adoption of business-to-business (B2B) electronic payments and straight-through processing. The COVID-19 crisis further complicates challenges associated with paper/manual processes. However, change is possible, and now is the time to address B2B payment efficiency improvements. When the moon is in the Seventh House, and Jupiter aligns with Mars, then peace will guide the planets, and love will steer the stars. This is the dawning of the Age of Aquarius. The song lyrics are not the answer, but perhaps the stars are aligned for B2B payment efficiency improvements. During this session, Guy Berg will answer these questions: Why now, why is this a critical time for change? What are the possibilities? How can I get involved?

A Round Table Discussion on Issues Impacting Creditors in A COVID-19 Environment

This lively round table discussion addresses key observations in the current distressed landscape and ultimately how credit organizations should be thinking about the same. The team of knowledgeable and well experienced attorneys share their insights into both out-of-court restructuring and bankruptcy activity in the moment. The session concludes with strategy that can be applied in planning for the wave of activity that appears to be on the horizon.

Credit to Cash - A Case Study in the Practice of Automation

The Credit-to-Cash function (CTC) is one of the most important areas within the finance function and impacts working capital, cash flow and customer relationships. As a result, companies are actively evolving their CTC function to automate task-oriented, transactional activities and empowering their people with dynamic and actionable tools and insight. The results of these initiatives not only increase efficiency and productivity, but also deliver an enhanced customer experience and improved cash flow.