Article Abstract:
The credit industry is constantly being subjected to forces of change. Given the turbulence of the industry, credit managers cannot use past successes as bases for present or future performance. Industry leaders need to be able to compete, both domestically and globally, if they want to remain in the business. A competitive company continually strives to be tougher, leaner, faster and more diverse than the competition. In the 1990s, the areas where competition in the credit industry is fiercest include customer base, internal leadership, the right location for headquarters, community involvement, human resources, diversity management, technology, corporate education and training, and communication with government officials.
User Contributions:
Comment about this article or add new information about this topic:
Article Abstract:
The credit industry is changing rapidly, and the International Credit Assn (ICA), whose membership represents credit grantors from virtually every industry, must also change. In addition to continuing current programs and activities, the ICA plans to standardize, restructure, and strengthen its organization in order to increase its nationwide influence, its vitality, and its value to members. Bylaws are being changed, and responsibilities of officers and board members at all levels are being clarified in order to enhance communication and involvement throughout the association.
User Contributions:
Comment about this article or add new information about this topic:
Article Abstract:
Effective credit management and risk reduction call for the use of an Interactive Decision System (IDS). The approach allows credit managers to analyze the interactions among sales, marketing, collections, authorizations, customer service and credit policy data on a continuous basis. Analysis of these aspects calls for their interrelation within the credit cycle. As a comprehensive profit-oriented technique, the IDS takes into account the three components of profit: risk, response and revenue.
User Contributions:
Comment about this article or add new information about this topic: