Magazine article Business Credit

Mike Meyer, CCE

Magazine article Business Credit

Mike Meyer, CCE

Article excerpt

Not In My Original Plan ...

Like most credit people, working in credit was not my original plan. However, my career was not thrust upon me--I applied for the position of Credit Manager. I graduated from college with a BS in Accounting in 1982. My goal was to join a company in accounting or finance and move up the corporate ladder, or possibly travel the U.S., but during the four years of college, my goals and priorities changed. It wasn't until 1995 that I responded to an advertisement for a position as Credit Manager.

Nobody Talked About Being A Credit Manager

When I graduated, college did not prepare anyone for the field of business credit. Different aspects of credit were mentioned in the course studies, but nobody talked about being a Credit Manager. Once I was hired for my credit position in 1995, I started looking for educational opportunities that would enhance my skills. My new company was already a member of NACM: what a blessing! I started making phone calls and asking questions of NACM South Central in Louisville, and also had access to workshops and seminars through our membership.

People Don't Even Realize Their Company Sells Product On Credit

I have been in the field of credit for 11 years, now. I find that most people don't understand the function of business credit; they don't even realize their company sells product on credit. The credit department of any business must first educate their co-workers regarding the credit function before processes can be established between departments.

I Had To Adjust My Thinking

My first credit position was with a car and truck dealership. I worked with the parts and service accounts for cars and semi tractors; and on both consumer and commercial accounts. In my opinion, consumer credit is a bigger challenge--there are many more rules and regulations that a company must follow.

My second and current position is with an office furniture manufacturer, Jofco Inc.: that is, Jasper Office Furniture Company. I handle credit and collections for all accounts. When I started, my biggest challenge was working with the bigger dollar value of the orders: I had to adjust my thinking. When I started at Jofco, they had no credit department. My first priority was to lower the DSO. To do this, I had to create credit and collection policies, educate my co-workers on what I did and what I expected from them, and convince the sales department that we worked for the same company.

I Needed A Push And She Gave Me One

I had help from many people within NACM and CFDD, and owe a big "THANK YOU" to Phyllis Truitt, CCE of Evansville. …

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