The days are largely over for a credit professional who merely sets credit lines and collects payments. By providing value-added consultative services, a credit professional can improve the strength of their customers, reduce risk in their portfolios and likely increase sales as the allegiance of customers is given to the company that brings them the best overall value. Key direction areas for credit professionals to deliver to their customers, including: Managing and Forecasting Cash Flow, Improving Creditor Relationships, A/R and A/P Management, Financing Alternative and Comparative Statistics. Source: NACM
BIIA comment: In the recent BIIA survey credit managers stressed the point that regular visits to key customers and the involvement of credit management in the selling process was a key element in preserving liquidity.