Hi everybody,

Everyone knows the saying “Change is the only constant.” Though the phrase comes from Heraclitus, a Greek philosopher from circa 500 BC, it was Benjamin Franklin who gave it a twist that feels particularly on point this month: “Change is the only constant in life. One’s ability to adapt to those changes will determine your success in life.”

Adaptation to change certainly is a requirement of our industry. Not only is the topic the theme of ELFA’s convention in October, but we’re all facing real business adjustments given the disclosure laws going into effect soon in California. I have had quite a few discussions with colleagues recently about how the new regulations will affect us all. Many have not understood the urgency (the law takes effect December 9, 2022), don’t appreciate the scope of impact (disclosure must accompany commercial deals under $500,000*) or don’t grasp the new workflow requirements (a customer must sign a disclosure agreement before they can receive a contract to sign).

Wow, that’s a lot of change, and it’s only the beginning. Soon the states of New York, New Jersey, Connecticut and Utah will follow California’s lead.

But to paraphrase Ben, change creates opportunity for those who learn fast and adapt. To learn how our industry must adapt to these forthcoming regulations, attend ELFA’s July 28 webinar where I will join a panel of industry colleagues to share thoughts on the topic. You can register for this event here: https://register.gotowebinar.com/register/5670043350242320396.

As always, if you’d like to discuss this issue or any others, please drop me a note at dnelson@tamaracknow.com.

Cheers to change!
- Daniel Nelson, CEO, Tamarack

*The law does not apply to banks or true lease transactions.

In this issue:

• Tamarack Trail Mix: Running collector worklist assignments outside nightly job stream
• KLC Financial dramatically streamlines operations with Tamarack’s AI platform
• Are you ready for the new California and New York disclosure requirements?
• ELFA Ops & Tech: Next generation innovation in payments
• Tamarack at the 2022 ELFA Annual Convention
• Faces of Tamarack: Get to know Amy Mimick
• Remote work is here, there, everywhere. Are you ready?

Running collector worklist assignments outside nightly job stream

For many organizations, the collector worklist assignment occurs each night during the job stream within the aging process. In this throwback Trail Mix edition, we outline how customers can run worklist assignments outside of the job stream.

KLC Financial dramatically streamlines operations with Tamarack’s AI platform

Within months of the implementation of Tamarack’s AI platform, KLC Financial, Inc. has realized significant improvements in its operational efficiency. By implementing custom reporting using Tamarack’s Data Console business intelligence framework, KLC has dramatically reduced the amount of time dedicated to completing the company’s complex monthly commission process.

Are you ready for the new California and New York disclosure requirements?

On July 28, Tamarack’s Daniel Nelson will be participating in a webinar hosted by ELFA. In this timely webinar, Nelson and other panelists will discuss upcoming changes to disclosure requirements in California and, soon after, New York. Attendees will have the opportunity to learn all about the latest legal, operational and system integration information concerning commercial financing disclosure laws.

ELFA Ops & Tech: Next generation innovation in payments

This year’s ELFA Operations & Technology Conference and Exhibition in New Orleans on Sept 12-14 promises to stimulate discussion on today’s most pressing technology trends. One of the most talked about topics is the use of technology to transform the payments world. On Wednesday, Sept 14 from 8 to 9:15 a.m., Tamarack’s Scott Nelson will join a panel of industry leaders and experts to unpack the possibilities technology provides to the worlds of accounts receivable and accounts payable. If you would like to discuss this topic before the conference, contact Scott Nelson at snelson@tamaracknow.com.

Tamarack at the 2022 ELFA Annual Convention

The theme for the 61st ELFA Annual Convention on Marco Island, Florida (Oct. 9-11), is “Welcoming Change as Opportunity.” This topic is one Tamarack has championed for several years. At this year’s conference, President and Chief Digital Officer Scott Nelson will participate in the following two panel discussions:

• Change is on the Horizon: Is Equipment Finance Ready for Standardization? Monday, Oct. 10 from 10:45 to 11:45 a.m.
• The Future of Risk Management is Precision. Tuesday, Oct. 11 from 11 a.m. to noon.

If you are attending the ELFA convention, mark your calendars for these engaging discussions. If you are unable to attend and would like to learn more about these topics, contact Scott Nelson at snelson@tamaracknow.com.

Get to know Amy Mimick

Since joining Tamarack in 2015, Amy Mimick has been instrumental in the company’s growth. In her role as manager of finance and human resources, she is an integral member of the leadership team. But Amy is much more than that. She is a wife, mother, world traveler and a monarch butterfly guardian.

Remote work is here, there, everywhere. Are you ready?

Everyone is talking about remote work. Experts predict that some sort of remote work environment is here to stay. For companies, the question isn’t “when will it go away?” but, rather, “how can we adapt to this new work environment?” and “how can we leverage it to create a competitive advantage?” In this blog post, Tamarack’s Scott Nelson explores how innovative companies use distributed workflows to operate in the sweet spot where productivity, differentiation and innovation combine to create a sustained competitive advantage.

See more posts and connect with us at TamarackNow.com

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