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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."
-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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HR Resources For Credit Execs
To move ahead in business, you must be skilled at dealing with people. Whenever we poll our Members about what their biggest problems are, people-related issues - more than DSO or bankruptcies or credit risk - are always at the top of the list! So one of our goals is to continuously bring our Members the best thinking anywhere to help succesfully manage the people issues in the credit field. Here you'll learn what's working and what's not from those in the trenches, as well as hard data from our benchmarking surveys, including our industry-leading Salary & Job Satisfaction Survey. Ensure that all members of your credit department work to their potential... Resources you'll find here: Everything you'll need to know about motivating your staff, the role of incentives, interviewing and hiring, downsizing, managing bosses, staffing and pay issues.
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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 measurement and bad-debt measurement, he says, "they ca . . .
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THROW STRIKES!
Sometimes the best challenges we receive are the simplest - and also the most obvious. They also can be the most difficult to attain. But being simple, obvious and difficult doesn't mean we shouldn't always strive to achieve them! During the re . . .
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Generalists and Specialists
More and more often, credit managers are expected to be both generalists and specialists. As middle managers in an era of downsizing, mergers, re-engineering and reorganizations, credit professionals have of necessity developed a "can-do" and a "will . . .
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Three Steps to Better Teamwork
By Peggy Morrow
How well is your team working together? It is one of the keys to doing more with less in these lean times. Your team needs to work together as productively as possible. If it isn't, here are some ideas that may help. 1. Embrace the differen . . .
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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 . . .
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What's Your Excuse?
It was 1962, and UCLA coach John Wooden, age 52, was a very good basketball coach. He'd never won an NCAA title, but then a lot of coaches never had. That year, a funny thing happened. His team made the final 4 and tied the score with 10 second . . .
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Auditing Credit Performance
All departments at Cargill Hybrid Seeds (St. Peter, Minn.) have undergone high performance team training for the past two years to improve existing processes and develop and implement new processes. Results are to be assessed by the corporate auditin . . .
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Can a Credit & Collections Supervisor be exempt if they are not managing or directing any staff?
April 12, 2010
Can a Credit & Collections Supervisor be exempt if they are not managing or directing any staff? I am hope I can classify this person as exempt under the administrative exemption. "Primary duty must be the performance of office or non-manual work directly related to the management or general business operations of the employer or the employer's customers. As such, this includes the exercise of discretion and independent judgment with respect to matters of significance". So wouldn't making credit decisions be related to general business operations and be exercising discretion/judgment with respect to matters of significance? . . .
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Fighting Employee Fraud
Employee fraud is a huge problem. The perpetrators, obviously, are employees who have been given access to money or to recordkeeping and transactions that translate to money. In other words, anyone working in the credit department or who handles cred . . .
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Building a Superior Credit Staff
"Your wrong about this, and here's why." That's hardly music to anybody's ears, especially when coming from a subordinate. But for this veteran credit manager--who prides himself on building a staff of capable, self-confident, self-starters--it's a s . . .
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Accepting a New Job
A friend of mine, let's call her Pam, recently accepted a job with a company as the credit manager. When she arrived on her new job, she was met by her new boss, the CFO, who told her there were some "problems." Specifically, the CFO said there was a . . .
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Progressive Discipline for Credit Employees
Ignoring employee behavior and performance problems is an abdication of management responsibility. Ignored problems only fester and grow. But what is the best way of coping with these problems? George Huyler, who as vice president of human resources . . .
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"Everyone or No One"
"Many companies are running the credit department as a team rather than operating like an assembly line," says John Davis, Ph.D., CCP, of Davis Consulting (Richardson, Texas). However, the team approach raises compensation questions. How do you rewar . . .
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Credit Cooperation
"You can't succeed if you try to dictate credit policy to other departments," says a New Jersey credit manager. "The key to improving Credit's numbers is to find ways for all departments to work together." What does it take to get managers actively w . . .
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Managing Your Time
Time is your scarcest resource. Don't schedule your time--budget it. Here are a few tips on successful time management: Use the "4-F" method for handling paperwork: File it. Find someone to delegate it to. Forget it (trash it). Finish it. . . .
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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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