The Commercial Foreign Credit Group (CFCG) is a member-driven credit group comprised of senior credit executives from manufacturers, distributors, and service providers who engage in or contribute to global commerce. Formerly known as the Cleveland Foreign Credit Group, CFCG began as a regional organization based in Cleveland, Ohio, where members met monthly to discuss various credit challenges and opportunities around the world.
CFCG’s objective is to maintain a dynamic network of global credit leaders and provide them with access to country payment trends, country credit risk and related credit discussions. The group provides its members with regular opportunities to network, share ideas, and with access to education that supports informed decision-making to avoid credit risk.
Making good credit decisions is dependent upon having the best information available. CFCG members can access the latest customer A/R data from creditors, receive expert educational training, and network with like-minded credit professionals. Benefits of membership includes:
Flash Reports are used by members to find out the most current notifications of events that impact the creditworthiness of their customers — bankruptcies, new ownership, accounts placed for collection, NSF checks, and Final Demand are all posted through the group’s interchange system, GoAmega. Flashes are easy to submit through the GoAmega portal, which allows members to view notifications in real-time. The portal also allows members to push Flash notices to the CFCG email distribution group.
Quarterly DSO surveys and member discussion forums are additional benefits of membership.
Networking and Education
Monthly group meetings and annual events always include roundtable account discussions and workshops to develop credit, collection management, and leadership skills. Whether meeting in person or virtually, one of the greatest benefits of CFCG membership is the ability to network and develop relationships with professionals in similar industries.
Group meetings usually include educational programming to keep members informed about the latest trends in credit management.
ABC-Amega also sponsors a free webinar series with programming presented by topic experts in credit, collections, bankruptcy, business operations, the economy, global trade and more. These programs provide members with additional opportunities to stay on top of industry trends and learn applicable skills from experts in the field.
Discounted Collection Services from ABC-Amega
ABC-Amega provides a broad range of B2B accounts receivable management solutions at special rates for CFCG members, including third-party global commercial debt collection and first-party accounts receivable outsourcing. Our certified collection representatives work as an extension of our members’ A/R departments to achieve the highest rate of return on the accounts they place, without jeopardizing the relationships they’ve built with their clients.
- Locate your customer in the GoAmega portal;
- Select the ‘Submit a Claim’ button in the customer record;
- Complete the ‘Submit a Claim’ form, including all necessary information and supporting documentation
Check out other credit management articles that we provide below
- Basic Outline for Developing a Credit Policy
- Cash Flow and DSO
- Credit and Collection Policy Basics
- Credit Extensions are Loans
- Credit Group Spotlight: GAIN
- D/P, D/A and Their Use in International Sales Transactions
- DuPont Analysis
- Final and Binding Arbitration: A Quicker, Cost-Effective Alternative to a Lawsuit
- Measure and Manage Collection Efficiency Using DSO
- Receivables Based Financing
- Resolving A/R Disputes
- The Proforma Invoice and Its Value in Export Sales
- Understanding the Balance Sheet
- Understanding the Cash Flow Statement
- Understanding the Income Statement