Magazine article Business Credit

Credit Professionals Never Go Away

Magazine article Business Credit

Credit Professionals Never Go Away

Article excerpt

It may be the nature of the beast, but I have been adversely affected in my career by business cycles since 1980. I am still in the profession after intervals in sales, customer service and telemarketing Since the events of September 11, 2001, credit professionals have faced shrinking corporate budgets and losses of positions. Some of us are still hanging in there and hanging around.

When I review the current literature and critical issues, the nature of the position and challenges have not changed much. The tools have changed but the techniques are the same. There is no substitute for a good credit and collections professional in a corporation. Short-sighted corporations have filled the void with contract workers and low level clerks but the tasks don't go away. Ultimately, they have to pay for it with increased bad debt reserves and write-offs. One area that has not been emphasized is the improvement in customer service levels by credit professionals. Customers expect and deserve to have accurate accounting from invoices, credit memos, cash applications and returns. …

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