C. Organizing the Credit Department (part of Business Credit Principles)
The properly organized credit department plays a critical role in managing accounts receivable portfolio risk to protect profits, prevent potential losses and help the company sell more products or services.
This module discusses the role of the credit department from an organizational point of view. Proper structuring of the credit department—from a one-person operation to a multi-tiered, multifunctional entity—ensures that the role of credit contributes to the overall success of any company regardless of size.
After viewing this module, students should understand:
- Organizational options for the credit department.
- Centralization vs. decentralization.
- Responsibilities of management.
- Effective credit policies and procedures.
- How to build a strong credit team.
Toni Drake brings over 30 years of oil and gas credit experience to the table. Toni holds a CCE, NACM’s most prestigious designation. After earning her CCE, she went on to attend and excel at NACM’s Graduate School of Credit and Financial Management to further her education in the field of credit. Toni continues to support the credit profession as a speaker and instructor at events like NACM’s annual Credit Congress.