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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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More Self-Improvement Ideas
The following ideas were submitted by readers in response to a question on self-improvement: "A good college course for a credit manager to take is Psychology, although in this business perhaps Abnormal Psychology would be more appropriate at times. "Another good course is Business Law, which gives you the ability to read and comprehend contract language and the Uniform Commercial Code.
"Dun & Bradstreet has excellent courses directed at training the credit personnel. Seminars in law and communication are also available and directed toward credit personnel.
"One very fine way to pick up techniques is to attend meetings held by credit organizations such as the NACM where credit people interact to exchange ideas, problems, and resolutions, thereby offering the hands-on experience of others."
Russell L. Heller
Credit Manager
Mitsui Machine Technology, Inc.
Glendale Heights, Illinois
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"I find self-improvement courses the greatest help in keeping highly motivated for this demanding job. Seminars such as "Conflict and Confrontation" pave the way in dealing with customers, co-workers, as well as personal relationships. Every six months or so I get rejuvenated by attending a seminar or reading a book, or listening to a tape while on a drive. The aim is to keep a positive mental outlook. I highly recommend this type of study for the collector. Too easily we can become bogged down listening to problems. Often we feel like we are being chewed out, day after day, as we are expected to problem solve to produce a happy customer who will ultimately pay.
HR & Personnel Resources For Credit Execs
Valuable resources to help you deal with the "people side" of credit and collections management. Many of our articles are based upon the hard data that we have gathered in our annual Credit Today Salary and Job Satisfaction Surveys.
Click here to check it out...
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"Our organization is service related, where high quality is foremost in sales and service representatives, and technicians. Therefore, my approach to collections must be sensitive to the resolution of the customer's needs rather than to create a no-win situation which means a no-pay situation. After all, the majority of our customers do repeat business. This is true of many types of service organizations.
"Being in the know of your business' policies and procedures is as important as the facts listed on the bill. Comlink Incorporated is a major network integrator for both voice and data that has constantly changing technology and products. Understanding our contract format and the knowledge of warranty and service contracts are a must in order to collect. I feel very fortunate that all employees have the opportunity to learn what we sell and how it works by in-house seminars offered to all employees.
"Anyone starting out in this field who plans to do medical collections needs a background in insurance law and billing procedures for both commercial and workman's compensation, as well as awareness of Medicare and Medicaid regulations. It's clearly not just a case of calling a patient and collecting the bill.
"The best tip is to have all the facts on collecting and the right frame of mind to stay on top of the situation. This, by all means, does not mean to monopolize the conversation. Listening for clues often tells you the collection avenue to take, which is another seminar--'Being a Good Listener!'"
Jean Joubert
Credit & Collections
Comlink Inc.
Marlborough, Massachusetts
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"With due respect to the normal credit and collection/business courses taken, the most unique outside course I attended not only improved networking with other credit professionals and attorneys, but it also provided up-to-date information on a vast array of collection problems involving the collection of consumer accounts.
"New ideas and collection techniques, bankruptcy, statutes, judgments, offsets, repossessions, and updates on laws and regulations were among the many topics discussed in this three-day conference held by The National Association of Retail Collection Attorneys. One primary purpose of the conference was to socialize informally for the exchange of ideas and contacts between attorneys and creditors. The knowledge, contacts, and materials derived from the conference wax well worth the time, effort, and money spent.
"The National Association of Retail Collection Attorneys is a not-for-profit corporation servicing the credit community. The address is: NARCA, 1515 N Warson, Suite 109, St. Louis, MO 63132."
Stephen I. Pribila
Assistant vice president, collections
First Commonwealth Federal Credit Union
Lehigh Valley, Pennsylvania
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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