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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-eminent 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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The BEST of... Credit & Collection Manager's Letter
Credit Today recently acquired the original newsletter in the credit space - Credit & Collection Manager's Letter. Edited by founding editor Wayne Muller, the newsletter contains much classic wisdom for credit, collections, and accounts receivable professionals. This material is too good to not post for our members and beyond.
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How Well Do You Listen?
The French philosopher Albert Camus once observed: "Great ideas come into the world as gently as doves. Perhaps then, if we listen attentively, we shall hear amid the uproar of empires and nations a f . . .
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10 Principles to Follow When Establishing Your Credit Policy
A few weeks ago, we discussed the critical importance of credit policies in our tip of the week ("To Get the Big Bucks, You'll Need a Current, Active, Living, Breathing Credit Policy") and challenged our readers to make sure you give more than a cursory look at this important task. This week we'll dig in a bit deeper, offering up some really spot-on advice on this subject from our old friend Joseph M. Jackson, CCE, Executive VP and Chief Credit Officer at MacSteel Service Centers, USA. The essence, says Jackson is that "you have to make certain the policy protects cash flow without impeding your ability to compete." Jackson lists several characteristics you should consider when setting up your credit policy: . . .
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Should Credit Think Like Sales? You Bet!
"Sometimes it's difficult to work well with salespeople," observes one Ohio credit manager. "You may find that you just don't relate too closely with the way they think, but it's well worthwhile to make an effort to understand their perspective." He suggests these 10 rules for getting salespeople or anyone else, for that matter, to work with you: . . .
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A Risk Scoring System That Makes the Grade
Without a comprehensive and consistent credit scoring system, a credit manager cannot assess the creditworthiness of a new or existing customer. This can ultimately lead to collection problems and potential bad debts. In order to be more comprehensive and consistent in his credit scoring, this manager of credit and treasury services has developed a ten-variable credit risk scoring system on which he bases his credit decisions. . . .
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Credit Investigations--Digging Deeper
There are credit applicants out there who will tell you anything they think you want to hear. But you can't let that chilling thought freeze the decision-making process. You've got to use the best information sources available to you, probe them deeply, and never lose sight of the value of that old, reliable, "gut feeling." The Dun & Bradstreet report on a prospective customer did not inspire much confidence. There had been a UCC filing and other apparent difficulties. But the report also referenced a parent company, so Credit Manager Tim Mayfield of EFTC (Phoenix, Ariz.) pulled a report on them as well. That was when things got even muddier. . . .
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Preparing for the Future
There is no question that preparing yourself and your staff for the new skills and knowledge that will be required in coming years is of paramount importance in the credit field. The good news is that . . .
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Preventing Check Fraud
According to Gerald Stephens, senior vice president and product director of payments at Bank of America (Concord, Calif.), as many as 15 fraudulent checks are written every second in the United States . . .
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Why The Credit Department is a Critical Area of Customer Support and Steps to Take to Improve Customer Satisfacton
"The second person a customer will have contact with after the salesperson is usually someone from the credit department," says one senior credit manager. "How this contact is handled can affect a customer's perception of the entire organization, either positively or negatively. That's why it's so important to recognize the credit department as a critical area of customer contact within your company. Make sure your people are making the most out of every customer contact." Here are some of his ideas for improving customer satisfaction: . . .
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Core Competencies for Credit Staffers
What are the most important "core competencies" for credit staffers? Well, one of them is "business perspective," according to one Iowa credit manager. Noting that staffers need to focus on DSO measu . . .
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The Right Combination
"We have automatic dunning cycles. We call customers, and we write to them. We try to stay on top of slow payers as much as possible. The biggest credit challenge," continues Steven A. Fistel, directo . . .
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The Importance of Proof of Delivery
By Christine Alfonso
A veteran of 10 years in credit and collection management, Christine Alfonso has been in her present position since 1996. Solar Services sells and services solar heating systems in both the commercial . . .
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Placing a Priority on Customer Visits
Sure, customer visits are important. But how much time can a busy credit manager allot to them? One California company has solved this problem by appointing four "area credit representatives" (ACRs) l . . .
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Selling Your Value
I was recently surprised and disappointed to hear that a friend--a credit manager who I knew and respected--had lost her job due to a reduction in force (a.k.a. reengineerng). I was surprised because . . .
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Bankruptcy Issues
