CMA Member Poll: Your thoughts on internal credit scoring systems. (148 responses)
- • We use one and it is essential 15%
- • We use one and it is helpful 18%
- • We use one and it is inconsistent 4%
- • We do NOT use one but would like to 14%
- • We do NOT use one and have no plans to 44%
- • Other: 5%
Jeffrey McLellan – We have developed our own credit worksheet that has become invaluable in approving credit and establishing credit limits for our new accounts. It is also a tool that is easy to understand for our sales staff as they analyze why/how we come up with credit decisions.
F. Scott Wilson – We use Equifax credit scoring and reports. With the size of our company and the number of different regions and businesses we sell into, creating a credit scoring system internally isn’t going to be as effective, and would chew up a lot of time and other scarce resources. I have set up credit scoring systems at other companies to good result, but it just isn’t a fit here.
You can participate in CMA’s monthly polls on CreditManagementAssociation.org.