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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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Checklists
Here you'll find a series of handy checklists designed to help you make sure you've "covered your bases" in many credit, collection, and accounts receivable procedures.
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Collection Communication Checklist
Have you reviewed your collection letter series lately? Usually, that's the type of thing you put on auto-pilot and then rarely - if ever - pay attention to it again. But it's important to periodi . . .
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Bankruptcy Warning Signs For Drivers: a Checklist
Your drivers are truly on the "front lines" of your business and are often in a position to see things that no one else (including sales) can see. Here's a handy checklist of warning signs of a potential bankruptcy, designed specifically for drivers. . . .
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Bankruptcy Checklist - Day 1
We recently loaded what we believe is a world-class credit policy to the Download area of our website. It's a 39-page document that details how one large consumer brands company's credit department operate. In going over it, we were impressed with the well-thought out details. But the task of building a great department is not something you can do overnight. You've got to systematically tackle one project at a time, and aim to go after the most important, or highest impact projects first. (That's what prompted last week's "Low Hanging Fruit" column.) . . .
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Preparing for the Collection Call - A Checklist
Prior to making any collection call, it is important to gather all the important information you have available and be fully prepared. Here's a checklist for both beginning and experienced collectors to make sure you've covered all your bases prior to making the call. This checklist includes 14 components to ensure you are prepared for just about anything! . . .
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Collection Visit Checklist
Some customer visits are just to say hello, develop a relationship, and learn more about the customer. Others are more task-oriented and aimed at collecting. These can be more intense. Either way, you . . .
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Invoice Component Checklist
Perhaps the most important document in the cash gathering process is the invoice. Your invoice should make it easy for the customer to issue payment. Here's a handy checklist to help you make sure your invoices have everything they need. . . .
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Acquired Receivables: Detailed Checklist
This is a great checklist to use if you are responsible for a newly acquired receivable portfolio. The sooner you can get this information, the more likely the receivables will be clean. If you are the acquiring company, this will give you something to use when you sit down with your counterpart about the receivables you are bringing in-house. Keep in mind, this is also a great checklist to use in your due diligence BEFORE purchasing a company and its receivables. You probably won't use all of these items prior to purchasing a company and its AR, but it will give you a good sense for what you SHOULD be asking in advance. The last thing you want is to find "skeletons in the closet" after you've already agreed on a price. This could also be potentially useful in gaining leverage in negotations with the company (and A/R) you are negotiating to buy. Finally, a third consideration for this checklist is to that is a very good way to make sure your own receivables are in ship-shape order. If YOUR company were to be purchased, would you be able to know that your own receivables were in perfect shape to turn over to someone else? Use this to find out. . . .
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From our Benchmarking Survey: Checklists of 100 Items You Can Include on Your Credit App
In addition to the basic components found on most credit applications -- basic company and contact information, a signed credit agreement, reference and signed authorization to contact same, personal guaranty, request for financial reports, and the amount of credit being requested -- there is still a substantial amount of information that can be elicited via a credit application. In fact, Credit Today's Benchmarking Survey on the credit application process identified over 100 items that can be included on a credit application. They are summarized below in a checklist that you can review whenever you are designing a new credit application or looking to update your current application. . . .
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Bankruptcy Issues
