Does the form fit the function?

Article Abstract:

Information gathering is critical to credit grantors, and this creates a need for a credit application form that is not only attractive but functional for the efficient control of retail credit procedures. JBS Services Corp. met the challenge of designing and administering a private label credit card program for 47th Street Photo, whose high-priced merchandise exceeds normal credit card limits. The form had to comply with all legal regulations, provide a copy for the applicant, incorporate a return envelope for convenience, be simple and usable, while covering all the needed data, and had to catch the attention of customers. The finished product is described and photographed for illustration. This credit program also includes an 'instant credit' option and a catalog version of the form.

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Collection scoring: effective tool for determining collection priorities

Article Abstract:

Credit granting relies on effective collection systems, and an innovation in credit scoring techniques is a method called collection scoring (CS), designed to assess priorities in collection. Defined as a tool for determining the risk forecast of future customer behavior, the CS forecast obtained can also be used for better collection of delinquent accounts. The basic concept, applications of CS models, and computation of the scores are described and compared to traditional roll rates. An example with typical scoring results is discussed, and the implementation of collection strategies, priorities, and integration with account balance data and the collection function are demonstrated. Advantages of CS and the data requirements of the system are listed.

Innovations, Economic aspects, Commercial finance companies, Comparative analysis, Roll-over credits, Roll over credits

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Timesavers in collection management

Article Abstract:

Suggestions for collecting accounts include having a clear-cut, current collection policy; using collection letters; keeping collection telephone conversations on track; keeping preparation time to minimum; asking the customer simple questions; always directing the conversation to payment of the account; and avoiding lengthy analyses of the telephone call.

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