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COPYRIGHT 2004 National Association of Credit Management
Every day, we as credit professionals face the ongoing challenge of exceeding corporate expectations in terms of managing and controlling critical accounts receivable business information. Improving working capital, reducing DSO, optimizing internal efficiency while maintaining superior customer satisfaction levels is a goal we all aspire to in today's challenging business environment. We all know the impact that these initiatives have on the financial success of our individual organizations.
As a credit professional, achievement will be measured by innovation, creativity and the ability to find and implement alternative policies, procedures and systems. This strategic business solution may focus on internal as well as external strategies.
In most organizations, the accounts receivable base is the largest tangible asset, yet the tools provided are typically the weakest link. Analyzing trends, collecting money, and resolving disputes without the proper mechanisms can lead to a significant deterioration in profit margins and an unnecessarily inflated DSO. Here at Johnson and Johnson, we strive to achieve success using technology as an aid, in order...
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