Now it their third year, the three-hour Executive Exchange sessions at Credit Congress continued to spark interesting conversation and debate among topics dear to credit managers from throughout the United States and beyond.
Extended question-and-answer periods helped fuel such interactive sessions, especially in the respective collections and construction exchange sessions. Construction session moderator Karen Hart, Esq., of Bell Nunnally, started immediately in with an audience question, one regarding preliminary notices and state-by-state nuances. A robust discussion followed regarding statutory vs. non-statutory notices followed by an eventual consensus speaking to the immense value of the notice not only as a tool to retain lien rights, but also a valuable tool in of itself to reduce DSO (day’s sales outstanding).
Panelist Greg Powelson, Director of NACM’s Secured Transaction Services agreed, adding “beyond the notices sometimes just the collection of job information can get help you get paid. When the client knows you’re organized and consistent you’re more likely to get paid over someone who’s not.”
Following the conference, Powelson applauded the evolution of the Executive Exchange format and how much it brings out the ideas and experiences of the delegates in attendance: “You never know where these sessions are going to go; I’ve picked up new ideas every year. The members are more engaged, and the conversations more spirited every year.”
Note: See more on this story in this week's edition of NACM eNews, available late Thursday afternoon (EST).