My Collection Manager Is too Nicey-Nicey
Dear Crabby, I’ve been enjoying your column and now find myself writing to you for help. Our staff collector was trained to be very polite, understanding, and to be reasonably, “accommodating” to our customers, as many of them have been with us for decades. I would...
How a Curious Credit Manager Uncovered a Terrible Fraud Situation
One of the most important aspects in executing the functions of a credit manager is to keep one’s eyes open, especially for the possibility of a fraudulent situation. Although there are countless examples of how fraud can rear its ugly head from internal and external...
The CMI Spirit – Cheryl Carliss
As we are delighted to spotlight Cheryl Carliss for our August newsletter, please read through her short interview which conveys her passion for CMI and the collection business. Q-1: What was the initial opportunity that brought you into the collection profession? How...
When the Debtor Contacts You After Submitting Your Claim
Hi Everyone, It's Hector the Collector here and as always, it’s a pleasure to work with you. Just a quick thought that I'd like to run past you. You know how sometimes a debtor may contact you after you’ve given me the claim and I’ve contacted them? Perhaps you’ve...
Excuse Me, Is this the Argument Room?
From time to time we at CMI receive an inquiry from a potential client with a heads up that their conversation with the customer got a little intense. In a recent inquiry, we were informed that after making several prior requests for payment, suddenly during the last...
The Real Meaning of Being Your Trusted Outsourcing Partner!
What’s the meaning of being a trusted outsourcing partner who can confidently fulfill a range of a client's needs? Every new business relationship is usually met with a dose of skepticism, since the supplier and customer each have their concerns about fulfilling their...
A Signed Credit Application Really Helps Us Help You
Hi Everyone, It's Hector the Collector here and as always, it’s a pleasure to work with you. Just a quick thought that I'd like to run past you. If you could, please kindly include the Customer Credit Application when sending over the claim. As we read over it,...
When Sales Professionals Can Get into the Mind of Credit
Back in February after I published my article, "When Credit Managers Understand the Mind of Sales," I received several requests from credit managers around the world for an article supporting their perspective. As I mentioned last time, when sales and credit...
Trying to light a fire under a burned out collector!
Dear Crabby, I’ve been having a problem at my company over the past couple of years trying to keep our collection people from getting bored and burned out in their jobs. Our company sells a magazine on credit and most customers who fill out the order form from the...
The CMI Spirit – Guy Lang
As we are delighted to spotlight Guy Lang for our April newsletter, please read through his short interview which conveys his passion for CMI and the collection business. Q-1: What was the initial opportunity that brought you into the profession? How long have you...
If DSO doesn’t mean Days Sales Outstanding, then what does it mean?
As credit and collection professionals, we’re always under pressure from upper management to get the DSO down. Many years ago when I was just getting started, I remember learning that DSO is often determined on a monthly, quarterly or annual basis. Not to bore you but...
Need to know the truth!
Dear Crabby, I'm at my wits end. I have a customer who has gone through good and bad times over the years (decades) and our president continues to do business with him no matter how bad the bad times get. My problem is that one of those bad times has produced one...
I Completely Messed up on a Collection Call
Dear Crabby, This is embarrassing but I completely messed up on a collection call. Here’s what happened. I had been calling one of our regularly delinquent, but long term, customers for the past three months and dealing with several broken promises. Then last week...
When Credit Managers Understand the Mind of Sales
It’s been said over and over that credit professionals should walk in the shoes of sales professionals and vice versa. Why is that so important? It’s because by experiencing each other’s challenges and frustrations, there will be a better understanding of what it...
