Education Above and Beyond

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"The first additional training I would suggest is computer training in certain software. This will give you additional time to concentrate on immediate credit problems. Computer training should include a course in Electronic Data Interchange. One of the most useful courses I have taken is a course in negotiations. This is extremely important to a credit person because a good negotiator can win when others lose. Business law is another course that will help in credit and collections. Business communications should be a part of any credit person's training.

Editor's Note: This article originally appeared in the Credit & Collection Manager's Letter, which Credit Today purchased in 2006. This article was a Forum column.

"All credit personnel should at least take a class in salesmanship. This will increase their understanding of the sales mentality and better prepare them to communicate with the sales personnel and talk their language.

"A well-rounded credit person stands a much better chance of accomplishing personal goals as well as the goals of the company by being able to see the whole picture and by being prepared to communicate with all levels of management."

C. Darrell Dockery, CCE
Credit & A/R Manager
Coty, Inc.
Sanford, North Carolina

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"One of the courses my company recommends for its managers is the Dale Carnegie course in 'Effective Speaking and Human Relations.' I have found the course to be very helpful in developing my self-confidence. It has also given me the ability to express myself with my co-workers. Part of my job entails going to our other branches and going over credit policy and procedures. Speaking in front of an audience is not nearly as difficult as it would have been if I had not had this training.

"Another course that I feel is very beneficial to credit managers is 'How to Stop Worrying and Start Living.' We all know that the next phone call could be a potential disaster. But even if it is, we must keep all problems in perspective and learn not to let them overwhelm us. If you let your worries overwhelm you, it is counterproductive."

Judy Johnson
Credit Manager
Herr Foods, Inc.
Nottingham, Pennsylvania

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"In 1989 I took a nine-month paralegal course. In 1990 I became a certified paralegal-legal assistant. This has been a great asset to the credit union and to myself. I feel more comfortable talking with our attorneys and member attorneys, since I now know some of the legal language and aspects of the law. After I became a paralegal, our attorney allowed me to do a number of things that he had done for us in the past. Due to this, our monthly attorney bill has been cut by 50%."

Bev Rainsdon
Collection Supervisor
East Idaho Federal Credit Union
Idaho Falls, Idaho

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Credit Today's HR Issues Today

To move ahead in business, you must be skilled at dealing with people. Credit Today gives you the best and most insightful reporting on how to succeed in your career and how to ensure that all members of your credit department work to their potential. You'll find what you need to know about motivating your staff, the role of incentives, interviewing, downsizing, staffing and pay issues. Many of our articles are based upon the hard data that we have gathered in our annual Credit Today Salary and Job Satisfaction Surveys.

Credit Today's HR Issues Today

"I recently took a course that focused on reviewing feedback from supervisors, direct reports, and peers on a number of issues relating to their perception of my style and business judgment. The course was very informative and provided tremendous insight into how others view my leadership style, management skills, and decision-making process. More important, it forced me to look inward and assess where improvement was needed, and provided confirmation on certain aspects of my management style."

Scott Mathisen
Credit Manager
Texas Instruments, Inc.
Plano, Texas

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"As a credit manager, it is imperative that you have multiple perspectives in dealing with customers and your own company personnel. Several years ago I was involved in attending the Xerox Professional Selling Skills Program. This program gave me a very different perspective in dealing with my sales group as well as my customer base. I have also been involved in team building and communications programs. In addition, I have taken courses on executive presentations, or 'Train the Trainer' programs. All these courses have allowed me to add or refine skills that, along with my credit education, helped me become more successful.

"For new people starting out in the credit field, I would recommend the program that NACM has developed at the Credit Business Associate level. This program details specific courses to take, such as Introduction to Credit Management, Credit and Collection Principles, Financial Analysis, and Business Communications."

Harvey S. Goldstein, CCE
Corporate Credit Manager
U.S. Silica
Berkeley Springs, West Virginia

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.