Magazine article Business Credit

Elevator Speech Is an Opportunity to Market Expertise of Credit Professionals

Magazine article Business Credit

Elevator Speech Is an Opportunity to Market Expertise of Credit Professionals

Article excerpt

The skills a credit professional must utilize at any given moment, and the types of situations in which they must use them, can be dizzying. For starters, trade creditors oversee perhaps the largest asset any company holds- its accounts receivable portfolio. Credit managers must understand not only how to read a financial statement, they must also be able to sniff out the clues held within these statements that ultimately point to a customers ability and willingness to pay their bills going forward.

Commercial creditors have to be adept at identifying and warding off payment risks from a variety of sources; from currency fluctuations to cyber fraud to bankruptcy proceedings and beyond. They have to be able to work fluently with a variety of software applications and understand where trends are leading their industry. They need to converse meaningfully with colleagues, customers and managers, enabling the types of relationships that ease the frictions to positive cash flow caused by payment delays. They also must have that extra sense to be able to determine what's behind the numbers, and whether a customer is all it appears to be on paper.

With so many skill sets in play, trade creditors still have another skill to master that will impact the future of not only their own careers, but of those engaged in the broader profession. …

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