ifo chapter meeting tampa florida september 9 2014
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IFO Chapter Meeting Tampa, Florida September 9, 2014. Presentation by: Scott Tillesen. Today’s Agenda. About Tech Data Corporation Accounts Receivable Management Cash Application Credit Cards Fraud Debtors Prison And … whatever else the group would like to discuss.

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Presentation Transcript
today s agenda
Today’s Agenda
  • About Tech Data Corporation
  • Accounts Receivable Management
  • Cash Application
  • Credit Cards
  • Fraud
  • Debtors Prison
  • And … whatever else the group would like to discuss
accounts receivable mgmt
Accounts Receivable Mgmt.

Need to take a tough stand

The Seller part is done, now the Buyer needs to pay

Importance of a ‘route of escalation’

Stick to a process

Have one or more outsourced steps

The value of a strong credit application

The importance of a new account process

Collection of A/R:

cash application
Cash Application
  • U.S. Invoicing: 22,000 invoices / $30+ million daily.
  • EDI, Email, Internet, and Paper payment.
  • Payment via: wire transfer 53%, ACH 10%, check 35%, credit card 2%.
  • All payments made to banks*
  • Check by phone
  • Handled by Accounting Department
cash application continued
Cash Application - continued
  • Remittance detail via EDI transaction, bank OCR or keyed, emailed files.
  • Cash Application Rules:

Rule #1. Application is by customer direction only.

Rule #2. If customer doesn’t supply application directions, re-read Rule #1.

  • Objective of minimizing contact.
  • Typical problems with misapplied credits
credit cards
Credit Cards
  • High-cost alternative for a low-margin business.
  • Without encouragement: $200,000,000 annually.
  • Tokenization for PCI compliance
  • Gateway / Acquirer Processor
  • “Level” of processing: I, II, III.
  • Evaluation surcharge opportunity.
  • Individual customer financial performance.
fraud schemes case 1 the pretender
Fraud Schemes –Case #1 The Pretender

Background

End user: US Dept. of Information Sciences

Product: $160,000 of HP Computers

Customer: Reilly Computer Services, Tampa FL

Financing: Direct payment to De Lage Landen

Scheme

Mimic real website site, email, and purchase orders

Outcome

Recovered the shipment, alerted Federal authorities

fraud schemes case 2 familiar faces
Fraud Schemes –Case #2 Familiar Faces

Background

End user: Various

Product: Computers

Customer: Several dozen

Financing: Regular supplier credit lines

Scheme

Malware intrusion to capture ID’s and Passwords

Ship to freight forwarders, ultimately to Eastern Russia

Outcome

Stopped shipments in transit to freight forwarders, recovered some shipments at freight forwarders. Alerted federal authorities. Required password changes on affected accounts. Implemented additional security features.

fraud schemes case 3 work at home
Fraud Schemes –Case #3 Work at Home

Background

End user: Various

Product: Computers

Customer: Several dozen

Financing: Regular supplier credit lines

Scheme

Malware intrusion by fraudsters to capture ID’s and Passwords

Unwitting accomplices thru www.CareerBuilder.com

Forward products to freight forwarders, then to eastern Russia

Outcome

Recovered some shipments at freight forwarders and at the homes of unwitting accomplices. Alerted local and federal authorities. Required password changes on affected accounts. Implemented additional security features.

fraud schemes case 4 classic bust out
Fraud Schemes –Case #4: Classic Bust-Out
  • Background

End User: Two Retailers

Product: Computer Display Devices

Customer: California Based

  • Scheme

Make legitimate purchases by the Customer, “arms’-length” B2B resale at a discount, dissolve the Customer business.

  • Outcome

Perpetrators were investigated, brought to trial, and convicted.

jailing debtors
Jailing Debtors

Credit in America – Initial funding & expansion

Colony to colony differences

Stability of statute law

Efficiency of legal system

Colonial bankruptcy

Halt race to file individual suits

Reduce incidence of fraud

Equitable distribution

Provide a second chance

Three colonies had debt discharge

jailing debtors continued
Jailing debtors - continued

English law creditor’s rights

Sale of personal and real property

Jailing if debt unsatisfied or if potential of fraud.

Debtor’s prison

Possibly were a deterrent

Seldom were effective

Indentured servitude

Federal abolishment in 1833

United Nations prohibited slavery or servitude in1948

jailing debtors the case of h beatty chadwick
Jailing debtors –The Case of H. Beatty Chadwick

Lawyer and respected citizen

Wife filed for divorce

She claimed he sent money out of the country

Court ordered him to retrieve the money

One year later was imprisoned

Released after spending14 years in prison when: “… incarceration had lost its coercive effect and would not result in him surrendering the money.”

slide14
Scott Tillesen

Vice President Credit & Customer Care – The Americas

Tech Data Corporation

5350 Tech Data Drive, MS A#-18

Clearwater, Florida 33760

Email: [email protected]

Phone: 727-538-5880

LinkedIn: www.linkedin.com/in/tillesen

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