Beware the “Reviewed” Financial Statement

In these unpredictable times, regretfully there are going to be instances where the scruples of some customers, for whatever reasons, may begin to fall short. Consequently, we need to be vigilant about the validity of financial statements submitted to support...

Eight Ways to Undermine Your Company Culture

We often hear and read about ways to improve a company’s culture, but we often don’t realize the things that may be going on which are negatively impacting a company’s culture. Following below is my list (not totally comprehensive) of what I believe can nibble at...

What do you think?

How often do you need to renegotiate a past due payment agreement? Not very oftenSomewhatA fair amount, especially in an unstable economyIt seems like all the timeChoose It’s frustrating when payment agreements are not upheld but it’s also important to recognize that...

What do you think?

To what extent do you help a customer to resolve the reason(s) for non-payment?Almost never as I don’t want to get involved and send the wrong messageI listen and I'm empathetic and very lightly make some suggestions.A fair amount and try to advise them as best...

What do you think?

How often do you use statistics to analyze your work?Never - not even sure what they areOn occasion - just the basic measurements Sometimes - we find them useful for improving our operationAlways - they help us immensely in understanding all aspects of our business...

What do you think?

At what point should Sales get involved in a collection situation?Never - as they usually give in to unfounded excusesAs necessary - when you as the credit/collection professional are trying to resolve a dispute against the product or serviceFrequently - as we work in...

What do you think?

Does it help or hurt one’s credit career when being assigned to a different position within the company? Very helpfulSomewhat helpfulNot helpful at allPossibly detrimentalChoose I’ve been hearing from some credit professionals informing me they have been assigned to...

What do you think? 

What's the most important thing for you when doing your credit & collection job?Collecting a large outstanding account.Helping sales to get the new client.Making sure you stay motivated.Keeping a tight lid on past due accounts.Working with past due accounts...