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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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Making Accounts Payable Feel Appreciated
In many companies, accounts payable people feel estranged, contends one veteran credit manager we know. "They work hard, and they're rarely given any appreciation by their employers. So they have the potential to bond more closely with suppliers that they talk to every day and that seem to care more about them than their own companies do!" This may or may not square with your experience. Either way, her observations and advice are worth pondering. She has found that, eventually, A/P clerks who have bonded with appreciative suppliers begin to divulge information to these suppliers--information that not all suppliers receive. "Most people like to do their jobs and do them well," she explains. "However, when they're forced to follow payment policies they don't believe in, they sometimes want to rebel against their employers. They want to help the suppliers." How does she get A/P clerks to feel so appreciative? By taking these steps:
- Being genuinely and sincerely interested in getting to know them. "We get on a first-name basis with the accounts payable people," she says. "We get to know all about them, their families, and their interests."
- Being thoughtful and fair. "We try not to cause them any more problems than they already have," she continues. That is, rather than call and berate or threaten accounts payable clerks (who are usually hamstrung by their own companies' payment policies anyway), she tries to understand their positions.
By getting the clerks to talk openly, she finds that they may say something like, "We're six months behind, I have no help at all, and all our customers are calling and complaining to me." "We support them and show that we understand what they're going through," she says. The company's collectors have no "scripts" to follow. They are free to communicate on a person-to-person basis. - Caring. "We're really interested in what happens to clerks," she says. For example, when she calls and finds an A/P clerk is out sick, she will either fax a note or call the next day to see how the person is doing. "Their own companies often don't care that they were sick," she says, "but we do."
- Showing appreciation: She also makes an effort to show her appreciation to A/P people whenever the opportunity arises. She thanks them for getting payments out, for looking out for her interests, and for investigating problems that might arise. "People like to be appreciated," she explains. "In many cases, employers don't do this with their people, so we do it."
Often, the "thank you" takes place over the phone. Just as often, it's in the form of a short thank-you note. It may read something like, 'Thank you. Every time I call you, you take care of my account. We appreciate so much your efforts.' Response to this kindness from accounts payable people? "It's usually something like, I can't believe you did this. Thank you!" she replies. It is also not uncommon for her to send thank-you notes to supervisors, complimenting them on their clerks. Certainly, she does not single out clerks in a way that makes their colleagues look bad: 'We got the runaround from everyone else in your department, but this employee got us paid.' Rather, the notes are generic in nature: 'What a great employee you have! She can always answer my questions.'
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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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