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Our Subscribers Say...
"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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Justin Brands, Inc. (A Berkshire Hathaway company)
Fort Worth, Texas
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Ron Woods
Corporate Credit Manager-World Wide
Thales Navigation, Inc.
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Fulton Paper Company
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Kimberly-Clark Customer Financial Services
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Paul Brunner
Corporate Credit Manager
Mitsubishi Electric Automation, Inc. |
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Welcome to
Credit Today Online
Credit Today is the premier online portal for trade credit professionals. This web site and all the resources within are for subscribers to Credit Today Online. If you are new to our site, please feel free to browse some of our sample articles now!
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Larger Firms More Likely to Be Using Credit Scoring
The survey showed that roughly 16 percent of all respondents are now using credit scoring. The top table shows how prevalent the practice is by industry. The lower table shows the breakdown by A/R portfolio size. As you can see, the larger firms, with A/R balances over $200 million, are much more li . . . keep reading
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Coface Says Global Recession Is Over
Having accurately predicted every recession for the past 27 years, global credit insurer Coface has earned some forecast credibility. So its January 18 announcement at its Country Risk Conference in Paris that the global recession is over gives some reason for at least cautious optimism. The sing . . . keep reading
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Raising Risk Awareness With Bad-Debt Reserves
Put a dollar value on the credit risks people take, and they start paying closer attention. That's the logic behind this major corporation's bad-debt reserve policy. Divisions see the implications of their sales decisions translate into bad-debt reserves right away - even while the accounts remain c . . . keep reading
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Leadership Profile: Victoria Artis, Director of Customer Financial Services, Pfizer, 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. . . . keep reading
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Make Sure Your Credit Staff is Organized to Fit Your Needs
By Dave Schmidt
Once credit departments reach a certain size, typically four to six people, adjusting the mix of staff skill levels and how work is distributed, without making any other changes, can significantly improve performance. Making the wrong moves, on the other hand, can result in diminishing returns. P . . . keep reading
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8 Tips to to Help Jump Start Your Written Communications
Credit staffers who are top performers and who get ahead know how important it is to write memos, reports, etc., that are clear and concise. Here are some ideas for improving your writing skills: 1. Selecting a style. To start, ask yourself, "Who will read this document?" Knowing yo . . . keep reading
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Case Study: A Recession Dividend - Motivation to Improve Credit and Collection Processes from Start to Finish
The harder you've been hit by recession, the stronger your motivation to improve your processes and procedures. And that's a good thing. This company, pounded by the housing construction slump, has restructured everything from appraising customer risk to systematically pursuing delinquents to reporting credit and collection efforts and results to management. When the housing bubble burst, annual housing starts plunged in two years from 1.8 million to 500,000. "With lower sales, we needed to budget more carefully," says Ron Tuturice, director of credit services at Certainteed, which is geared to new housing with a contracting and distribution customer base. "We needed to take stock. Do we need to do things differently than we did before? The answer was 'yes.'" . . . keep reading
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Let Me Help You Get Paid!
There probably never was a time in credit and collections when it was a good idea to just sit back and wait for your money to come in. But, if there was, it's long gone now. You've got to be proactive, and the less sophisticated your customers are about the financial side of their businesses, the more proactive you've got to be. Lake Steel, Ltd. sells to a wide variety of customers, but many are subcontractors working on construction projects under general contractors. "General contractors don't like to hear the word 'lien,'" notes Credit Manager C.B. Sehorn. "Their aim is to create as few problems as possible. They don't want suppliers contacting their bonding companies or the owners of their jobs." . . . keep reading
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Bigger Companies' Payment Performance on the Upswing
While small business continues to struggle, bigger companies are doing better-and paying their suppliers sooner. The CFO 2009 Credit Risk Report shows that mid-caps (publicly traded companies headquartered in the U.S. with annual revenues of $100 million to $1 billion) have recovered sharply since p . . . keep reading
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This month's topic: Processing of Credit Applications
Click here to participate!
We're examining:
- What information is being captured on credit applications
- What additional information is being requested during the credit app process (such as personal guarantees, financial statements, resale certificates, etc.)
- What the primary challenges are relative to the processing of credit apps
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March 2010
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