Credit

Q. I work in Accounts Payable and would like to know who would be the business owner of credit applications? Would this be Accounts Payable, Contract & Supply or Finance? Do you have any information… Read More

Q. How does AR collaborate with sales when it comes to setting and communicating customers’ credit limits and/or handling late payments? A. (Answered by the IOFM Advisory Panel) ----- Our AR… Read More

Q. Within your organization, who completes supplier credit applications? And is that group also responsible for the Vendor Master File?  A. (Answered by the IOFM Advisory Panel) ----- Our commodity… Read More

Q. I have a question for my AR/C&C colleagues: Do you have a credit committee in your company and if so, what is their role, scope and objective? A. (Answered by the IOFM Advisory Panel) ----- We do… Read More

Q. With the state of the economy, companies are trying to minimize risk. We have many private companies with six figure credit limits. 1. Do you request financials statements? Most recent audited… Read More

Q. I have created our credit application in an Excel format for ease of entry by our customers. It looks much better and allows for macros and hyperlinks. However, this presents a challenge when the… Read More

Q. I am having a challenge with trying to keep up with assigned credit limits on accounts. Due to many price increases in raw materials, fuel, and packaging items, we have had four price increases… Read More