The Credit Internship
Credit managers must be supervisors but more importantly they must be teachers. An apprenticeship or internship with knowledgeable credit managers could be offered in which the credit manager could teach outsiders in his own office for a fee. There are many advantages to this type of arrangement. The student would be working on real problems, with an expert. The teacher would be in his own office. The process of explanation would require fresh approaches and stimulate both the student and the teacher. The greatest benefits in this kind of program would be to the intern's employer, who will have his analyst get on the job training for a small fee.
Publication Name: Credit & Financial Management
Credit and collections: ten rules for effective management
Ten rules for collections include: employing a full-time professional credit manager; setting objectives based on corporate cash and profit plans; approving each customer individually; selling credit to customers only if affordable; ensuring that customers understand terms of payment and pay promptly; asking for late payments right away; asking past-due customers to pay before hiring a collection agency; hiring professional collection agencies when necessary; resolving customer complaints quickly and investigating their cause; and speeding cash flows or creating new ones when conducting cash flow audits.
Publication Name: Cashflow Magazine
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