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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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Customer Visits--Have a Plan and a Backup Plan
"When visiting a customer face to face, you need to have a plan on what you expect to come away with if all goes well, and a backup plan if the situation is more complicated than anticipated. It is critical that you let customers talk first. They have to get everything out that they have to say with minimal interruptions. You must be a patient, attentive listener and you must empathize with them. Then ask for the check. You must close the visit by asking for the check!
"Credit people generally deal with negative situations. That's why when I travel to visit a troubled customer, I always try to visit at least one or two healthy customers in the area. I do this for a number of reasons. It prevents me from developing the attitude that all our customers are in trouble. It gives me the opportunity to develop a model of what a healthy customer looks like.
"It also gives the owner a chance to showoff his or her operation. This is particularly enjoyable. You can see the owner's pride while he or she is showing you around. Good customers never meet the credit people, and the PR you get from stopping by just to say hello is immeasurable.
"These good customer face-to-face visits really payoff if a special situation arises, or if you need to contact customers about something that has come up on their account. You've already made your business personal, so you're liable to get a much warmer reception and a better explanation.
Credit Management Portal
Unparalleled resources to help you with all aspects of the credit function: partnering with sales, reducing DSO, efficient ways to manage A/R, credit reporting resources, how today's credit leaders are solving problems, analyzing cash burn rates, the importance of working capital, best practices in all phases of the quote to cash process, from receipt of the the order through use credit applications and checking credit, through the collection process...
Check out Credit Today's
Credit Management Portal
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"When we visit with accounts payable people to reconcile an account, we always take a little token of appreciation. Whatever it is that you take, it should have your company's insignia on it. Whether it's a coffee mug, a pen or a T-shirt, it's a way of saying thanks for their time and effort.
"Remember, all that accounts payable people get is beatup. They don't get the type of rewards that sales and marketing people get. So when you've visited them at their place of business and thanked them with a small token of appreciation, what sort of response do you think you'll get next time you call them with a question on your account?
"Face-to-face visits are invaluable PR builders with both your customers and your sales personnel. Do them correctly, and you'll find Sales inviting you to visit their customers in the future."
Chuck Mendeljian
Director of Credit Service
Echlin, Inc.
Branford, Connecticut
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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