Thanks to those that were able to make it for our 17th CFO Club discussion. We had a very interactive discussion.
Note Summary
Customer Contracts/Risk
- Most are limiting their liability or considering it
- Depends on
- Supplier agreements (are your suppliers/mfgs passing along the risk to you) – i.e. Laser Welders, Major Gas Suppliers
- Go to market philosophy (managing risk vs being an easy to work with local company)
- Business mix and industry selling into
- Discussed laser welders and their slow down in sales
- Many have specialists in their company that sell and then evaluate customers for laser, automation sales including setup and training
- Many are managing their risk be declining to make connections for customers
- One distributor just recently implemented the declination, a few customers left as a result, but not as bad as they expected
- Horton can help design contracts, Andy Kaplan (attorney) can as well if you’d like something more intense
State Vacation Policy Changes
- Discussed a handful of states that have made changes that have challenged HR policies and departments
- Complexities if a location/business is located near a border, which state law applies
- Free resources
- Mineral – typically offered for free by your Benefits Broker
- EPL Policy – HR/Labor Hotline free within your policy
Credit Card Vendors for Employee Cards
- IWDC program by 5th 3rd Bank has worked for some (get money back), Southwest Airlines for others to get free flights for employee travel (conventions, meetings, etc.)
- Employees’ cards could get flagged by the IRS, i.e. points/miles earned not being reported
Credit Card Charges to Customers
- Discussed various strategies to avoid eating the credit charges
- Encouraging ACH or charging 3% surcharge
- Offering better terms
Potential topics of interest:
- Union negotiations
- Voice over IP
Upcoming Dates
- CFO Club 8/20 – 11 EST/8 PT
- AI usage in finance (AP, etc.)
- Healthcare offering and strategies (what’s worked)
- GAWDA SMC Tampa 10/8-11
- If enough people are in attendance we may try and host a happy hour/small group, let us know if you’ll be there and are interested
- CFO Club 10/15 – 11 EST/8 PT
Keep sending additional topics our way.
Have a great day!
Tony Hopkins
Tony Hopkins is a Senior Vice President of Horton’s Risk Advisory division, where he leads the M&A and Welding and Gas practice groups. He provides clients with comprehensive, cost-effective and innovative solutions to meet their most complex, risk-related challenges.
Material posted on this website is for informational purposes only and does not constitute a legal opinion or medical advice. Contact your legal representative or medical professional for information specific to your legal or medical needs.
