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Our Subscribers Say...
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!
- Steve Savino
Manager of Credit & Collections, ASSA Abloy Americas Division, New Haven, CT
Credit Today's Resource Directory and their online e-mail forum (ListServ) provide information on almost any credit-related topic you can think of. It is a great way to exchange information with other credit professionals. As the saying goes, "You don't know what you don't know."
- Scott Goen,
Credit Manager, Big Lots Stores, Inc., Wholesale Division
"We've recently started using the ListServ tool within Credit Today. This is phenomenal and powerful forum for gaining immediate feedback, ideas, and suggestions, relative to any credit topic under the sun, all in a real-time e-mail format."
-Javier Vela, Senior Credit Manager, Global Credit Services, JDA Software Group Inc.
"Being a part of the Credit Today online community is like having the expertise of hundreds of credit managers at your fingertips. These credit execs are willing to help you solve topical business issues as they arise. In the current environment of ever increasing competing priorities which reduce our opportunities to meet peers out of the office face-to-face, this is the most valuable tool you can have on your desktop! It's important that we have a mechanism to reach out to our counterparts quickly to exchange knowledge as well as to stay on top of industry trends."
- Victoria Artis, Director of Customer Financial Services, Pfizer, Inc.
"Over the last 10 years I've seen Credit Today evolve from a monthly credit publication into a quality source of information and guidance for the B2B credit community. The website, with its user friendly form downloads, will take you from examples of new account credit applications to bankruptcy forms and everything in between.
The Credit Today ListServ has become the pre-imminent 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
"There are numerous credit periodicals available to the credit professional today. How good is Credit Today? Is it relevant? I always have to read it late, or online because my credit analysts want to read it the minute it comes in. When my staff wants to read a publication before I have a chance to read it then something is working in that publication. We have cancelled our other subscriptions. When you have the best you do not need the rest."
Ron Woods
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
"I love Credit Today and read every issue cover to cover. For me, the greatest perk of a subscription is ListServ. I believe Credit Today's ListServ members may be the most knowledgeable Credit brain trust in existence today. I have saved and categorized hundreds of contributions on a wide variety of topics which I refer to often. It's an easy and cost effective way to network and learn."
Doug M. Thomas
Kimberly-Clark Customer Financial Services |
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Credit Manager's Forum: Visit to Solve Problems
Visit to Solve Problems "As a credit manager, it is your responsibility to collect receivables when due and maintain a constant cash flow. Part of this is negotiating with customers to pay down debt that has gotten out of hand. When large sums of money are owed, customers cannot always see a light at the end of the tunnel. It's always bleak, and they're always looking for that 'one big chance' when they can pay you off entirely and say 'How about that?!' Unfortunately, that day doesn't usually come.
"Visiting customers will enable you to work on a one-on-one basis, and show your customer that you are concerned and that it has a friend at your company. You have to anticipate all of the customer's excuses and/or reasons for not paying. The customer knows, and it knows that you know, that it can afford to pay you something now. Talking in person will allow you to find out how much the customer can afford to pay each week or month.
"But before you go to the meeting, you'll want to recheck references and update your credit reports. Do whatever you have to do to be 'ready.' Don't walk away from the meeting without a mutual understanding. When you get back to your office, follow up with a written agreement."
Thanks to: Russell L. Heller, Credit Manager, Mitsui Machine Technology, Inc., Glendale Heights, Illinois
Credit References
"As a twelve-year credit professional, I feel an obligation to provide credit references when requested over the phone or in writing.
"In order to evaluate the creditworthiness of new customers, my staff depends on accurate credit information from trade references. I believe sharing information fulfills a responsibility to other credit professionals.
"Dun & Bradstreet, TRW, and NACM are valuable sources of credit information, but they do not offer the 'personal comments' obtained over the phone with another supplier.
Profiles: The Best Credit Departments in the World
For more information on credit, collection, and A/R management issues, check out Credit Today's
Credit Department Profiles
Learn what's working at credit departments ranging anywhere from Fortune 50 operations to those with just one (overworked) person. Just a few of the world's leading credit departments featured include Campbell Soup Company, Georgia Pacific, Serta Matress, BJ Services Company, USA, Hachette Filipacci Magazines, VF Jeanswear, USXpress, and Canon USA.
Credit Department Profiles
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"Credit references can be a time-consuming task. However, my company can provide a prompt response if the supplier gives us the account number we have assigned our customer. This makes it easier for us to access our accounts receivable system and correctly identify the customer."
Thanks to Lori Martin, Credit Manager, Office Specialists, Wakefield, Massachusetts
Empowerment Is Nothing New
"Empowerment, employee involvement, team building, and TQM have been an important part of our department's success--even before such terms were fashionable! Decisions are made daily, and staff members must be empowered to make decisions if they are going to be effective. For the 13 years I have headed this department, my staff members have always been given the freedom to act and react on their own. They know I have the confidence in them to make the right decisions.
"With new technology being introduced continuously, employee involvement is a must to be sure that the tools available are the best for those who are required to rely on them. To build an effective team, everyone's input is needed. You sell any idea short without everyone's involvement."
Thanks to Lance E. Harvey, CCE, Corporate Credit Manager, Agway Petroleum Corporation, Syracuse, New York
Editor's Note: The above article originally appeared in the Credit & Collection Manager's Letter, a newsletter purchased by Credit Today in 2006. This article originally appeared prior to 2000.
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Outlook 2012
This month's survey explores...
- What the top problems are facing credit execs currently, and
- What the top improvement initiatives are.
Click here to participate!
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February 2012
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