We have all heard the expression about the tree falling in the woods with no one around, does it make a sound? To relate this to Industry Credit Groups, if an alert posted by a member of your group results in your company avoiding a big loss, does senior management ever hear this?
Within the confides of group confidentiality, do you ever tell your superiors that you rejected the new customer your salesmen “finally” landed because the RFI you requested shows 2 members recently withdrew credit or the alert just posted told you that a member placed them for collection. Do they know that their company got paid in full on the bankrupt account because of what you learned about UCC’s or Lien Laws as part of a group discussion? Or are they aware that the expensive new software package that you voted against was the result of first-hand information gathered at a group meeting by asking people who are actually using it?
May I suggest giving your management a tour of the anscers website, show them the alert page, how you can do an RFI and get instant feedback from the group or check the anscers credit report for historical information. Tell him about your monthly discussions on best practices and how that has not only made you a better credit manager but provided you with tools to save the company money. Emphasize that you cannot get this information if you miss the meetings or conference calls. However, make it clear to them that the information is confidential and any slip can jeopardize your standing in the group and potentially cut off the stream of information.
Making more of your financial team aware of the group benefits, will not only insure group renewal, but encourage them to allow you to attend conferences such as the Western Region Credit Conference or other educational seminars.
Have a great October.
Larry Convoy, Supervisor-Industry Credit Groups
firstname.lastname@example.org – 818-972-5323