by Paul Amante, CCE, Amer Sports
We have all heard the old saying that “Timing is Everything” and that couldn’t be more true now. It is interesting to me that we, as credit professionals, are always dealing with the dynamics of timing. We often find ourselves balancing the time we spend on certain activities such as planning and reporting versus the amount of time we spend dialing for dollars or negotiating payment plans. In the normal day to day activities of the credit department we are determining payment terms and credit limits and as such are answering the question of how much time will we give our customers to pay invoices. Similarly, we regularly determine how much time will we allow for a customer payment plan allowing a past due customer to make partial payments to resolve a past due balance. We have all likely grown into the habit of making these decisions.