The answer to the above choices is probably that there is no one real choice. It depends on many factors that include:
- Size of the company and the role you play
- Parameters and nature of your job responsibilities
- Type and volume of business that the company does
- Company structure and culture
For example, in some industries like heavy machinery that is sold on credit, not only is the machinery a high priced ticket item but the subsequent parts and repairs can also add up to large amounts. What this means is that as accounts become delinquent, they’re usually past due with large balances. In this case, the first option of collecting a large outstanding account might give you a great feeling. Of course, why these accounts are becoming delinquent in the first place is probably the bigger issue to resolve but given the circumstances, collecting the big fish every so often may be the most important thing in your credit and collection job.
At the same time, like many jobs, credit and collections has its share of stress, which in turn can impact one’s motivation. Let’s face it, we’re getting pulled from every direction — sales, customers, executives, and our staff. While trying to maintain the goals of our credit and collection department, we’re also trying to balance the needs of others, and this can make staying motivated quite difficult.
After making your choice and seeing the results, I’d love to hear from you regarding any thoughts or ideas you may have on this poll accordingly.
Nancy Seiverd, President, CMI Credit Mediators, Inc.