Managing risk in a buyer's market

Collecting the right customer data, and analyzing it, is the key to better credit and collections. Top companies live by 5 best practices to manage credit risk and build profitability for large, high-volume accounts receivable portfolios, including: 1. Production-quality customer- or account-level p...

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Bibliographic Details
Published inCollections & Credit Risk Vol. 7; no. 3; p. 49
Main Author Cleveland, Jeffrey
Format Trade Publication Article
LanguageEnglish
Published New York SourceMedia 01.03.2002
Subjects
Accounts receivable
Best practice
Collections
Credit bureaus
Credit collections
Credit risk
Customers
Guidelines
Payoffs
Portfolio management
Risk assessment
Telecommunications
Time series
United States
US
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Summary:Collecting the right customer data, and analyzing it, is the key to better credit and collections. Top companies live by 5 best practices to manage credit risk and build profitability for large, high-volume accounts receivable portfolios, including: 1. Production-quality customer- or account-level performance and characteristic data must be captured. 2. Analytic data must be stored and kept outside the production/operational mainstream. 3. Data must be captured from all points along the credit life cycle. 4. Users must have unfettered access to data. 5. Organizational structure must be built around skill sets needed for detailed data manipulation.
ISSN:1093-1260