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I think Credit Today is fantastic. You cover many practical topics in the credit field that I use regularly. Just one recent example—a conversation on the ListServ about preferential payments—gave me tips that I used in an actual case. The specific information I picked up from this one discussion saved me $10,000, enough to cover my membership for many years!|
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Manager of Credit & Collections, ASSA Abloy Americas Division, New Haven, CT
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Credit Manager, Big Lots Stores, Inc., Wholesale Division
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The Credit Today ListServ has become the pre-eminent online forum, providing an opportunity for discussion and comments (and occasional humor) from an impressive list of credit professionals."
David Dungan, Director of Credit
Justin Brands, Inc. (A Berkshire Hathaway company)
Fort Worth, Texas
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Corporate Credit Manager-World Wide
Thales Navigation, Inc.
"The newsletter, coupled with the website and the ListServ, are to us, more valuable than any other credit publication, bar none. I try to use at least one article out of each newsletter for departmental training/discussion sessions."
D. Mark Constantine
Corporate Credit Mgr
Fulton Paper Company
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Doug M. Thomas
Kimberly-Clark Customer Financial Services
Credit Today Online
Credit Today is the premier online portal for trade credit professionals.
This web site and all the resources within are for Members of Credit Today Online.
Making Credit the Department of 'Know'|
A key credit metric, right up there with DSO and bad debts, should be optimum use of the department's abundance of financial knowledge and information. That may be harder to measure month by month, but over time the payoff in problems avoided and opportunities seized with customers, suppliers and other business partners can be enormous. . . . keep reading
An Explosion of Credit Information Resources|
The credit reporting market is more competitive than ever and the dominant players are facing intense competition. Here we provide a detailed rundown of what's new and what's happening. You might be surprised at the range of options you have. The competion is spurring innovation as well. We'll give a snapshot of what you'll find and also what you should be looking for in the following three areas:
We also give you specific strategies on how to evaluate and choose the right provider for your needs as well as how and where to conduct your research. . . . keep reading
- Credit Reporting Services
- Commercial Credit Scoring
- Portfolio Monitoring Tools
If, in your judgment, approving an application for credit would represent a clear and present danger to your accounts receivable asset, you should have the authority to turn it down. But, in most companies, credit authority is not that clear cut. That's why credit management tends to be a complex mixture of judgment and negotiation--or, perhaps more accurately, selling. . . . keep reading
'If It's Good Enough for Norway . . .'|
This case study looks at the concepts of express warranties, implied warranties, and a sales agreement's implied warranty of fitness for a particular purpose. What exactly do those mean and why are they potentially important to a credit exec? We'll put it this way: you might be surprised at how much your sales rep's spiel has so much legal weight. . . . keep reading
Trends: A New Tool For Assessing the Credit of Small Businesses in Emerging Markets|
In today's developed countries, much planning and business growth is financed by credit. Using a credit rating and other tools, lenders have tools to enable them to assess an organization's ability to pay back a loan. However, in developing counties, credit ratings are not common and many businesses operate in a cash environment, greatly reducing the potential for growth and creating bottlenecks for their local economies. This article explores a new tool developed to help assess the creditworthiness of small businesses overseas. . . . keep reading
How much does that slow mail in Canada affect my DSO?|
We have a branch in Canada that bills separate for their shipments. On their U.S. accounts which they bill in U.S.funds: it is taking approx 10 days for them to receive checks from date mailed. We on the other hand get our mail in about 3 or 4 days. I know this may sound elementary, but can anyone tell me, if we have an average 2.6M monthly in cash receipts in Canada, how much is it costing to have these extra 6 days DSO? Is this clear as mud? . . . keep reading
Managing Credit in Global Turmoil|
Today it's Ukraine. Tomorrow, who knows? If you're selling internationally, you have to be alert to political and economic upheavals and prepared for the potential consequences in delinquencies and bad debts. Here's how one corporate giant is triumphing in the global market place. . . . keep reading
Credit Today Benchmarking: Best Practices For Evaluation of Suppliers|
One of the best things about our survey on the evaluation of suppliers by credit departments was the chance to tap into some of the industry's best minds for ideas. One question asked for "best practices" and we came up with a great list. Here are highlights from this question.
. . . keep reading
- the importance of setting limits
- how to leverage the same psychology with suppliers that credit uses when setting up new customers
- important internal political considerations when undertaking this function
- a great way to use technology to be efficient and systematic
- some easy (and free) ways to vet your suppliers
- and much more...
Helping Customers Manage Their Cash Flow|
The logic of seasonal credit terms is the fact that customers just won't have the money until they're well into their selling seasons. But will they still have that money when your payment date arrives? This credit manager stops that question from even coming up. . . . keep reading
Meeting the Information Challenge of Selling Abroad With an International Credit Application|
Ancient map makers labeled unexplored areas Terra Incognita. In a real sense, any foreign market you enter will be terra incognita for a while. There will be contact, shipping, payment and other information you'll need, and the best place to gather and keep it all together can be an international credit app. In this article we explore the process by which a savvy credit exec constructed his firm's international credit app; what did they need that was different? And you can see for yourself what they did. . . . keep reading
What do you call your credit department?|
At the risk of getting several dozen emails (or more) I am going to ask this. It is very basic but honestly after all my years of doing this I really don't know the difference or if one is more correct that the other. Is it a "Credit and Collection Department (using Collection in the singular)" or a "Credit and Collections Department (Collections in the plural)"? Would those of you who have actually wrestled with this in the past let me know what you concluded and why? . . . keep reading
Credit Today's Collection Training: Closing the Door on Payment Delays|
Imagine making collection calls all day long to debtors equipped with repertoires of legitimate excuses for delaying payment. They don't have the money or they have too many other bills or they have some combination of both. And they're entitled by law to assert them. That's what these collectors are up against, but in January their collections soared by 49 percent over December. Here's how. Learn...
. . . keep reading
- a common mistake by collectors when starting a collection call - what you should definitely not say
- the most important thing to do to control the call after you make your opening statement in your first collection call
- the key "soft skills" needed to excel in collections