Can We Talk?

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...

read more

CMI Trivia Quiz

In which country or kingdom was the concept of debits and credits formally established? China India England Persia Venice Egypt    Answer: Both India and Venice The concept of debits and credits as a financial transaction classification system was first used and...

read more

CMI’s Trivia Quiz

As recognized by the United Nations, there are currently 180 currencies across the world. Among all these currencies, how many countries do you think call their currency the "dollar?" 8 20 32 44 51 Answer: 20 The “Dollar" (symbol: $) is the name of 20 currencies,...

read more

CMI’s Trivia Quiz

Among all of the well-known credit cards today, which one was the first to be introduced as a dining and entertainment credit card?  American Express  Mastercard  Discover  Visa  JCB  Diners Answer: Diners    According to historian Jonathan Kenoyer, the concept of...

read more

The CMI Spirit – Adam Carliss

CMI is delighted to spotlight Adam Carliss for our September newsletter. Please read through his interview which conveys his passion for CMI, the collection business, and his zest for life. Q-1: What was the initial opportunity that brought you to CMI and into this...

read more

My Credit Self Esteem Is Taking a Hit

Dear Crabby, I’ve been the person in charge of credit at my company (over 200 employees) for the past two years, and I’m the third credit professional in the last eight years to have this position. I found out that the turnover was rather high (they left on their own)...

read more

CMI’s Credit & Collection Trivia Quiz

In terms of developing a credit scoring model, which benchmarking approach do you think would work best? Process benchmarking Financial benchmarking Functional benchmarking Best-in-class benchmarking Operational benchmarking Before we give you our answer, let’s take a...

read more

CMI’s Credit & Collection Trivia Quiz

Which financial ratios should credit professionals rely on the most? a) Profitability ratios b) Liquidity ratios c) Management Efficiency ratios d) Leverage ratios e) Valuation & Growth ratios There really is no right answer. In my view, it’s wide and various as to...

read more

Sweating the White Lies

Dear Crabby, I work at a mid-size company of about 150 employees and I’m part of a team of four collectors. I’ve been working at my company for over fifteen years and I have the title, Senior Collector. Over the past few months I’ve noticed that I’m getting more...

read more

CMI’s Credit & Collection Trivia Quiz

How many different kinds of bank letters of credit are there? •   3 •   4 •   5 •   6 •  More than 6    Answer: More than 6 A letter of credit (LC), also known as a documentary credit, bankers commercial credit, or letter of undertaking (LoU), is a payment...

read more

CMI’s Credit & Collection Trivia Quiz

This is a hard one but take a stab at it. How many countries have declared bankruptcy over the past 200 years? •   15 •   35 •   68 •   83 •  111   Answer: A total of 83 countries, including the world's biggest economies such as the U.S., Germany, Japan, and U.K.,...

read more

Don’t get hung up on!

Hi Everyone, From time to time I receive a claim in which the creditor has forewarned me that the debtor hung up on them. Subsequently, when I called the debtor, they told us that the creditor was saying this and that and they needed to abruptly end the call. Although...

read more

I Have a Secret Collection Amore

Our company is a small business with about thirty employees and I have been there about five years as the person in charge of collections. After I arrived, I inherited a long time customer who always had a very up and down payment record with us. Although he would pay...

read more

My 10 HOPES for the New Year!

Hi Everyone, It’s Hector the Collector and now that the New Year has begun, it’s also a time for me to set some HOPES for this year. I use the word “HOPES” because every year when I proclaim my “resolutions," I just get too overwhelmed trying to make them a reality....

read more

CMI’s Credit & Collection Trivia Quiz

In which country, principality or city was the first stock exchange established? China Venice Belgium London Constantinople     Answer: Technically Belgium but credit will also be given for choosing Venice. Please read below. When people think of stock markets, images...

read more

CMI’s Trivia Quiz

Which group of people developed the first cheques? The Romans The Vikings The Knights Templar The Merchants of Venice The Founding Fathers Answer: The Romans   The ancient Romans are believed to have used an early form of cheques known as praescriptiones in the 1st...

read more

The CMI Spirit – Eric Allen

As we are delighted to spotlight Eric Allen for our October newsletter, please read through his interview which conveys his passion for CMI and the collection business. Q-1: What was the initial opportunity that brought you to CMI and into this industry? A-1: I've...

read more

CMI’s Trivia Quiz  

Which country was the first to use paper as money? a) England b) India c) Spain d) China e) None of the above The answer is (d). The first bank notes were printed on paper nearly 1,400 years ago in China, during the Tang Dynasty. At first they were used for exchanges...

read more

Our Company is Discount Central

Dear Crabby, I’ve been reading your column for some time now and as the accountant at my company who is also managing some of the credit and collection functions, I finally decided to put pen to paper and seek your advice. My company is in the service business,...

read more

The CMI Spirit – Desiree Shelley

As we are delighted to spotlight Desiree Shelley for our April newsletter, please read through her interview which conveys her passion for CMI and the collection business. Q-1: What was the initial opportunity that brought you to CMI and into this industry? A-1: At my...

read more