Re-jiggering Credit and Collections Management

At the beginning of a year filled with many financial management challenges, here are two good questions to ask: “Is my company using credit risk policies and scoring models that were formulated last year or the year before? And what is my collections department using to determine who to collect from?”

Lyle Wallis, vice president of research for the Credit Research Foundation (CRF), was interviewed in the Jan 2009 issue of Oracle’s Financials Management newsletter http://www.oracle.com/newsletters/archives/archives_financialmanagement.html in an article entitled “Reduce Credit Risk with Accurate Scoring Models”. Wallis mentions automation as the only way to deal with the thousands of customers whose credit risk and worthiness is changing drastically. So along with everything else the global financial and economic crisis is causing us to re-think, companies need to re-jigger their credit and collections scoring models to “segregate customers that may be good credit risks from those in jeopardy of going out of business in the months ahead.” In other words, we need to evaluate what currently constitutes ‘good’ and ‘bad’ credit risk and criteria for collectability, and adjust operational policies, strategies, and metrics accordingly.

The abovementioned article touches on how companies can use technology to create scoring models to better identify and efficiently manage customers at most risk now and in the future. Oracle’s Credit to Cash products not only streamline the credit and collections scoring process, they also automate work assignment so collections agents focus on those customers who need that personal touch while automating collections activities for those customers who don’t. And once you’ve re-jiggered your scoring models, you may be surprised to learn who those customers are!

If you read the article in the Oracle newsletter and want to know more about what other companies are doing, Wallis has recently written one white paper, “Managing Receivables in the Midst of Today’s Economic Environment”, https://www.crfonline.org/publications/2008economy.pdf and one occasional paper, “Lessons for Businesses to Learn from Today’s Credit Crisis” https://www.crfonline.org/publications/Lessons_CFO.pdf available from the Credit Research Foundation.

Happy Reading! And Happy Re-jiggering!

Comments:

Buying and selling scrap gold is really the way to go these days if you put some effort into it it can be a worthy pastime. The most important thing you can do is make sure you verify the quality of the gold before you buy it.

Posted by Mark Emeries on February 01, 2010 at 02:39 PM PST #

Good post, thanks

Posted by Golf GPS Units on April 27, 2010 at 07:37 PM PDT #

Hi, I just thought I'd post and let you know your blog layout is messed up on the Samsung Mobile phone browser. Anyhow keep up the good work.

Posted by Big AssDolls on July 24, 2010 at 01:57 AM PDT #

Great post. A couple of days ago CNN investigated this issue. Just goes to show that people are interested in this area.

Posted by Cassey Gomoll on September 08, 2010 at 07:21 PM PDT #

Wait around, which is just what exactly it truly is everything regarding? WE don't learn i'd basically need to do any kind of work. Now i am beyond this particular activity

Posted by Ruben Fann on September 25, 2010 at 11:32 PM PDT #

There's latino colleges and black colleges.A white college would be racist simply because they would probally be practicing a kkk routine.

Posted by college grants on September 30, 2010 at 04:04 AM PDT #

Exceptional post, keep the good work. I am a recent graduate of the Fashion Institute of Technology in New York and am now currently working on the discussion board to bring all market pros in concert. I've gained a couple great ideas for my web page from reading this.

Posted by fashion merchandising on September 30, 2010 at 06:28 PM PDT #

I need to order my credit score and get started improving it today. I'm losing too much time getting my financial affairs back in order. Thanks for reminding me.

Posted by Find My Credit Score on October 12, 2010 at 01:14 AM PDT #

My brother visited this site quite frequently. I think I'll visit too.

Posted by Live Web Cams on October 24, 2010 at 08:25 PM PDT #

Interesting article and one which should be more widely known about in my view. Your level of detail is good and the clarity of writing is excellent. I have bookmarked it for you so that others will be able to see what you have to say.

Posted by Ina Maciej on October 27, 2010 at 08:08 PM PDT #

Sal is correct. I own two properties in the SF Bay Area that are ~$1.3M each. They both rent for $3,000/mo. I just lost a good tenant at one of them bc he wanted to rent for less which I wouldn't do. I can tell you at that range, good qualified tenants are hard to find these days, as people are the polar opposite these days when it comes to renting. Much more conservative than 5 years ago, obviously. So, as someone who ACTUALLY knows, bottom line Sal is correct.

Posted by Aspen on November 13, 2010 at 06:54 AM PST #

Most factory systems require a subscription, but not all, But the price on new systems and the new features almost make the old systems obsolete. With the newer systems you can upgrade to not only to just your area but you can even get maps for all parts of the world, it amazes me with the one I bought that showed all the interest places all the restaurants and historic sites that I did not know existed as I drove down the road, and has other people input information the things available is just incredible. I have one that connects to my 17 inch laptop with speakers hooked into my ford and it is way cool to use, with updated traffic sources weather and all the things it gives is just amazing plus my computer is wifi and if I want to buy another program for another area I stop where it shows local wifi connections and connect for free update and am on my way. My system cost $60.00 from staples but they have the gar-min and tom toms as well but are a little fore money. The one I have tells me how fast I am driving if I am over the speed limit as well as directions. Way cool than the old days.

Posted by car gps navigation| on January 05, 2011 at 12:13 AM PST #

I would probably use this info bro, but where do you get this info?

Posted by bailey hats on January 08, 2011 at 05:51 PM PST #

This is getting a bit more interesting after reading again, but I'm not quite sure that this is what I'm looking for. But thanks mate!

Posted by chicago breast augmentation on January 18, 2011 at 11:33 PM PST #

Believe nothing you hear, and only half of what you see.

Posted by big busty tit babes on January 25, 2011 at 05:03 AM PST #

Nice post. Love your blog

Posted by Deividas Kripas on January 27, 2011 at 07:12 PM PST #

The family that prays together stays together.

Posted by der duft der liebe on January 28, 2011 at 06:26 PM PST #

I found your site from wikipedia and read a few of your other blog posts.They are cool. Pls continue this great work. Later on other fantastic American rock acts such as Lynrd Skynrd, The Eagles, America, the Allman Brothers, and the Doobie Brothers would come on the scene and shake up the world with their string of hit songs.

Posted by Olaf on January 31, 2011 at 10:39 PM PST #

You sure do know what youre talking about. Man, this blog is just great! I cant wait to read more of what youve got to say. Im really happy that I came across this when I did because I was really starting to get bored with the whole blogging scene. Youve turned me around, man!

Posted by Ruth on February 03, 2011 at 11:34 PM PST #

I'll share this review to 2 of my blogs. I'll think everyone else will enjoy this :).

Posted by bailey hats on February 14, 2011 at 09:47 PM PST #

Really nice and great article, thanks!

Posted by goodman air conditioners on March 05, 2011 at 12:20 AM PST #

When are you going to post once again? You genuinely entertain me!

Posted by diet solution review on March 07, 2011 at 02:29 AM PST #

If you could electronic mail me with a few hints concerning how you produced this weblog site glance it awesome , I will be definetely greatful!

Posted by guyana recipes on March 08, 2011 at 02:04 AM PST #

In addition, from the 17th century to the mid 20th century, French served as the pre-eminent international language of diplomacy and international affairs as well as a lingua franca among the educated classes of Europe. The dominant position of French language has only been overshadowed recently by English.

Posted by teach and learn french fast on March 13, 2011 at 04:14 AM PDT #

As a result of France's extensive colonial ambitions between the 17th and 20th centuries, French was introduced to America, Africa, Polynesia, South-East Asia, and the Caribbean.

Posted by teach yourself french on March 13, 2011 at 09:30 PM PDT #

French is a descendant of the Latin language of the Roman Empire, as are national languages such as Italian, Portuguese, Spanish, Romanian and Catalan, and minority languages ranging from Occitan to Neapolitan and many more. Its closest relatives however are the other langues d'oïl and French-based creole languages. Its development was also influenced by the native Celtic languages of Roman Gaul and by the (Germanic) Frankish language of the post-Roman Frankish invaders.

Posted by learn french software on March 14, 2011 at 06:35 PM PDT #

I know , it's never simple To compose a quality article like things like this. I like this all Ones approach to this post. might you provide me The thing Here's how how to compose a great content ?

Posted by Abel Salvadge on March 16, 2011 at 12:47 PM PDT #

Pretty good post. I just chanced on your blog and wished to say that I actually have very enjoyed reading your blog posts. Any approach I will be subscribing to your feed and that I hope you post again soon.

Posted by Ace Check Cashing on March 16, 2011 at 04:24 PM PDT #

Hi to everyonw My name is gedLymnAneddy and I'm just wondering how how alive this forum is . So, I justwant to know : how long should i wait before I'll get an answer to my questions. Thanks

Posted by gedLymnAneddy on April 08, 2011 at 07:30 AM PDT #

In addition, each season favors different handbag colors. All greens are very popular in the spring, while red and orange are often seen in autumn. Winter favorites are white and all shades of blue.

Posted by Louis Vuitton Handbags on April 14, 2011 at 05:23 PM PDT #

I like foregathering utile info, this post has got me even more info! .

Posted by Andrew Pelt on April 21, 2011 at 03:53 PM PDT #

Post a Comment:
Comments are closed for this entry.
About

bocadmin_ww

Search

Archives
« April 2014
SunMonTueWedThuFriSat
  
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
   
       
Today