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Igniting the Credit Revolution

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Covers the state of credit today and what can be done to change it.

Covers the state of credit today and what can be done to change it.

Published in: Business

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  • 1. ER$ Consulting Services In Collaboration with CMA Presents Igniting the Credit Revolution January 26, 2010 Webinar Copyright © Eddy A. Sumar 2006
  • 2. By Eddy A. Sumar, MBA, CCE, CICE Igniting the Credit Revolution Copyright: Eddy A. Sumar 2006
  • 3.
    • kindle
    Provoke Incite Inspire Awaken
  • 4.
    • Innovation
    Conversion Development Change Transformation Breaking the Status Quo Upheaval and an Alteration
  • 5.
    • Agreement
    Cooperation Coordination A State with no Friction and Conflict Harmony
  • 6.
    • On the Cutting board
    • Feelings of frustrations
    • Division between credit & sales
    • State of conflict
    • It is a necessity in this new age of economic Uncertainty
    Why Ignite the Credit Revolution? The State of Credit Today...
  • 7. ” I am for the restoration of order, but not for the restoration of the old order." (Honore’ Mirabeau) The Cutting Edge ……. A Strategic Response……..
  • 8.
    • “ Everything requires effort: the only thing you can achieve without it is failure.”`
    20,000 Quips and Quotes The Cutting Edge ……. Break the Status Quo… Failure is not an option…...
  • 9.
    • “ The right of commanding is no longer an advantage transmitted by nature; like an inheritance, it is the fruit of labors, the price of courage.”
    The Cutting Edge ……. Invent yourself…… …..The Path of Survival and the Way to Thrive…….............
  • 10.
    • Need to take Courage
    • Need to Change
    • Need a New Vision and New Image
    • Need to envision a New Reality
    • Need Revolution and Renewal
    What does this mean? Doing what is right The Cutting Edge
  • 11.
    • Role of credit
      • Vital & essential
      • Lifeblood of economy
    • Benefits of granting credit
    • Role of credit Manager
    Significance of Credit & the Credit Professional … ..It is all about Positioning & Marketing…………………
  • 12. What can help us achieve our mission? Understanding the paradox! Resolving the old age Conflict Changing the perception of credit
  • 13.
    • Roles of sales and credit are different
      • Values
      • Rules
      • Thinking patterns
      • Language and dialects
      • Culture
      • Beliefs
  • 14.
    • Goals conflict
    • Sales: Sell, Sell and Sell
    • Credit:
      • Minimize risk
      • Maximize cash flow
      • Lower DSO and Increase profit
      • Minimize bad debt & write-off
  • 15.
    • Nature of sales
      • Urgency
      • Immediacy
      • Time is of the essence
  • 16.
    • Nature of credit
      • Built on trust
      • Requires due diligence
      • Requires Time
  • 17.
    • Negative Perception
      • Obstacle
      • Hindrance
      • Anti-Sales
      • Bad guys
      • Sales prevention Dept
      • Stop Sign
      • Enemy
      • Inhibitors of sales
      • Necessary evil
  • 18.
    • Why the Negative Perception?
      • Lack of communication
      • Lack of understanding
      • Lack of management support
      • Lack of credit education
      • Lack of credit leadership
  • 19. How can we resolve the conflict? How can we reach a state of Harmony ?
  • 20.
    • Negative
      • Obstacle
      • Hindrance
      • Anti-Sales
      • Bad guys
      • Sales prevention
      • Stop Sign
      • Enemy
      • Inhibitors of sales
      • Necessary evil
    • Positive Perception
      • Aid
      • Help
      • Pro-Sales
      • Good guys
      • Sales invention Dept
      • Yield & Caution Sign
      • Friends
      • Openers of sales doors
      • Necessary force for good
  • 21.
    • Changing perception [ HOW ]
      • Education
      • Communication
      • Seeking understanding
      • Obtaining management support
      • Credit leadership
      • Alignment with sales
    Obtaining management support
      • Seeking understanding
    Education Communication Credit leadership Alignment with sales
  • 22. Perspectives Leading the Way to the Cutting Edge ……. The Path to Perfect Harmony……...
    • Psychological perspective
    • Sociological perspective
    • Anthropological perspective
    • Political perspective
    (The Antidote)
  • 23. The Cutting Edge ……. The Path to Perfect Harmony……... Realities & Conclusions The Cutting Edge
  • 24. The Cutting Edge ……. Ignite the Credit Revolution……... 1. Change is the only constant 2. People in organizations belong to different tribe 3. Perception could be altered Realities
  • 25. The Cutting Edge ……. Break the Status Quo……... Conclusions 1. We need to be aware of the state of credit . Where we are and where do we want to be. 2. Be willing to change and adapt to new realities . 3. We need to adopt a new vision and a new image and initiate the change. 4. We need to seek the support of management, sales, marketing and a credit friendly culture .
  • 26. The Cutting Edge ……. Invent Yourself……... The Cutting Edge Recommendations
  • 27. The Cutting Edge ……. Reach the Cutting Edge!……... “ It is not the strongest of the species that survive, not the most intelligent, but the one most responsive to change.” Charles Darwin
  • 28. The Cutting Edge ……. The Path to Perfect Harmony……... "The greatest discovery of any generation is that a human being can alter his life by altering his attitude." ( William James )
  • 29.
    • "I have three precious things which I hold fast and prize. The first is gentleness; the second is frugality; the third is humility, which keeps me from putting myself before others. Be gentle and you can be bold ; be frugal and you can be liberal ; avoid putting yourself before others and you can become a leader among men ."
    • - Lao-Tzu
  • 30.
    • “ Be gentle…
    • Be frugal…
    • Be Humble…
    • And
    • Become a leader Among men .” Lao-Tzu
  • 31. The Cutting Edge …. The Path to Perfect Harmony… “ We make a living by what we get, we make a life by what we give .” Sir Winston Churchill
  • 32. Ignite the Revolution ……. Experience the Renaissance ……... Credit and Sales a Perfect Harmony