Grand Rapids Annual Meeting | June 20
NACM Connect is gathering its members in Grand Rapids, MI, at our 2024 Annual Meeting! We’ve lined up a great educational agenda and the after-education networking festivities are on us! See you on June 20th.
For more information please contact Lillian Novak at lillian.novak@nacmconnect.org.
Sheraton Grand Rapids Airport
5700 28th Street East
Grand Rapids, MI 49546
9:15 AM — 5:00 PM EDT
9:15 – 9:30 A.M.
Opening Remarks
Phil Lattanzio, CCE, President & COO NACM Connect
9:30 – 10:30 A.M.
AR KPI’s You Should Track & Share within Your
Organization
Mike Nortman, Business Development Manager, Esker
In this session, we will uncover the pivotal Key Performance Indicators (KPIs) that drive success in accounts receivable (AR) management. Join us for an engaging discussion where we delve into the essence of AR KPIs, unravel their significance, and learn how to leverage them effectively to optimize financial health and operational efficiency.
10:45 A.M. – 12:00 P.M.
AI and the Credit Department
Jason Torf, Partners Tucker Ellis LLP
While artificial intelligence (AI) has been around for decades, there have been enormous advances in the technology over the past several years that have now made it viable for business applications, including credit. AI stands to transform the credit industry as we know it, and the benefits of AI are apparent: automation of customer onboarding and underwriting, predictive analytics, data management, collections, and forecasting is now possible, which could in the future substantially expedite decision making and reduce credit department labor costs. There are, however, substantial risks: the technology is still developing, is still prone to errors, and cannot – at least at this time – navigate around unforeseen events and replace the experience and judgment of tenured (human) credit professionals. During this presentation, we will discuss the benefits and opportunities of integrating AI into your company’s credit function, along with the legal and business risks and challenges associated with the current AI technology.
1:00 — 2:00 P.M.
The Impact of Bankruptcies – Deeper Than You Think
James Brown, Partners Founder and Owner, BKWire.com
In the year 2023, more than 18,000 businesses filed for bankruptcy, which affected over 400,000 creditors. Such bankruptcy filings can have significant impacts on your company, and it’s crucial to be aware of the potential risks. If one of your customers files for bankruptcy, it can negatively affect your business, and the impact can even extend beyond that if your customer’s customer also files for bankruptcy. In this session, we will delve into this topic in greater detail and learn how to use data to uncover the hidden effects of bankruptcy filings on your business. It’s important to take proactive measures to safeguard your company and arm yourself with the knowledge you need to mitigate the risks and protect your business in the long run.
2:15 – 3:30 P.M.
Economic Update
Chris Kuehl, Armada Corporate Intelligence (Virtual)
Once again we will be ending our day of learning with Chris Kuehl’s insights into the current state of the economy. Always a don’t miss, get an idea of where the economy may be heading in the months ahead.
