In a world where cash continues to rule, credit managers and other credit leaders perform a critical role
Their efforts enable companies to stay in business, to report healthy profits, to grow, to attract investment and to pay their staff and suppliers. Without them, some companies would struggle to survive while others would fail to achieve their
full growth potential. It is for these reasons that the prominence of the credit management profession within the business community has grown considerably during and since the financial crisis. We have found that those credit professionals who tend to advance the fastest have commercial nous, strong people management skills and positive, proactive relationships with their colleagues in sales and across the wider business.
The relationship between sales people and credit managers could be deemed one of the most important relationships in business. It is due to their combined efforts that companies not only make sales, but also see the cash from those sales reach their bank accounts. This relationship is evolving and today’s credit managers must play a strategic role within their companies by working closely with sales and operations teams and showing where they can add value.
Individuals tend to find the credit profession through many different routes. Often, they will have started out in finance, sales or another business function and then moved into credit at a later date. Nevertheless, many credit managers share common personal characteristics and business challenges.
“The best credit managers are those who can communicate clearly, who are able to motivate themselves and their teams, and have an appetite for delivering results that are RECOGNIZED by their peers in senior management. They will harness the knowledge and expertise of their profession, and use this knowledge not simply to keep the cash flowing through the business, but also to enable new business and turn an opportunity into a closed deal.” – Philip king, CICM
How to fast track a career in Credit Management?