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Our Subscribers Say...
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."
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"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."
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"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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Problems With Deductions?
Deductions are growing worse all the time. In fact, at many companies, deductions are more significant risks than bad debts. Here you'll find solutions to help you cope with this big problem and save tens, if not hundreds, of thousands dollars for your company. Learn the top 5 causes of deductions, how to reduce unearned discount deductions, how to resolve post-audit claims, and how to read routing guides and compliance manuals for fun and profit!
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Taking Control of Deductions: Improved Communications Get to the Root Cause of Deductions, Down By a Whopping 40 Percent in Just Four Months!
"Deduction rich" is how Senior Credit Manager Scott Patterson ironically describes the electrical supply industry. Short payments, if not the norm, certainly aren't aberrations. Distributors--a major class of customers--are especially adept at the deduction game. They go over invoices with fine tooth combs, and, if they find any excuse to deduct, they pounce. And if the supplier acquiesces without much fuss, that type of deduction becomes routine. They have, in Patterson's words, "cracked the code." When he arrived at the division four months ago, he found deductions extremely high, and he set the credit staff to work researching every single deduction to determine the root cause. They went to the respective departments to bring these errors to their attention. "We let them know how much extra work they're creating for us," he says. "The problem spread across all of the departments from Order Entry to Cash Application." . . .
keep reading
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Deductions - Who's At Fault
When deductions mushroom, and you have to spend hours and days checking to see if they're authorized, whose fault is it, anyway? "Most likely, it's yours," says one veteran New Jersey credit manager. "Deductions began as a nuisance, developed into a major cause for concern, and now, in some cases, disrupt day-to-day business. "When we looked into our situation, we concluded that 80% to 90% of the time, deductions resulted from company-initiated errors. I suspect that it's much the same with other companies, but admitting it is a new approach." Searching for the Causes - What causes deductions? It could be any number of things, including: . . .
keep reading
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Beating the Bounty Hunters
Not everyone can do this, but here's a story we just love about an innovative and aggressive approach to combat a post audit claim. This one's fun. A while back, a credit exec we know received a no . . .
keep reading
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How do you measure your deduction/disputes?
April 12, 2010
We are attempting to develop a meaningful measure for open customer deductions/disputes in AR. We've thought about Deduction DSO, % of AR, % of Sales and % of Past Due AR as some of the measures. We also are considering the length of time for the deduction to be resolved and cleared. I am interested how you measure your deduction/disputes. . . .
keep reading
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Strategies for Recovering Unearned Discounts
Problems with customers taking unearned discounts? Here are six strategies to prevent customers from paying late and taking the discount: - Dispel the standard practice myth. Some customers believe unearned discounts are standard industry practice. Contact trade
. . .
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Coping With Customer Deductions
It may seem hard to believe, but accounts receivable has grown at a faster pace than either inventory or sales during the past two and a half decades. Although much of this buildup in A/R has its root . . .
keep reading
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Reduce Error-Related Delinquencies
Even if your company prides itself on excellence in the areas of receiving orders, shipping, and invoicing, anything less than 100% accuracy can lead to problems. Anytime ordering, shipping, or billin . . .
keep reading
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And Now We Have to Pay Interest?
It's bad enough that as trade creditors we've become banks of last resort. But along with supplying customers with their working-capital needs, are we going to have to pay them interest on early payme . . .
keep reading
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This month's topic: Credit Card Usage
Click here to participate!
We're examining:
- What percentage of credit departments are currently accepting credit cards
- What percentage of sales are paid via credit card
- The various ways by which credit cards can be accepted (phone, web interface, etc.)
- Which merchant accounts are most popular
- What discount rates are being charged
- Lessons-learned when setting up an account
- ... and much more!
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September 2010
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Webinars
