1. The document discusses igniting a credit revolution by changing the negative perception of credit and achieving harmony between credit and sales departments. 2. It argues that education, communication, and obtaining management support are needed to shift credit from a negative obstacle to a positive aid for sales. 3. The document provides recommendations for initiating change, seeking a new vision and credit-friendly culture, and becoming more responsive to reach harmony between credit and sales.

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