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05-13-2021 – How to Structure a Credit Department – Free Webinar for Members
May 13 @ 12:00 PM - 1:00 PM
Speaker: Pam Krank, President, The Credit Department, Inc.
How to Structure a Credit Department
A typical Credit Department structure begins with one person creating processes while utilizing available technology until the need arises to add team members to assist in managing the receivables. The challenge for Credit Managers is in knowing which processes, technologies, and team members will give them the right combination to best manage the receivables while minimizing costs.
In this session you will learn:
- How the type of trade receivables portfolio drives structure of the department
- The role of process improvement in Credit Department structures
- Automation necessities in Credit Management
- Matching skill sets to your portfolio
The art of when and how to add appropriate team members to a Credit Department.
Pam Krank is President of The Credit Department, Inc. known as TCD (www.tcd.com ), a unique trade receivables management outsourcing firm headquartered in St Paul, Minnesota that she began in 1992. TCD currently manages nearly $1 billion in commercial client trade receivables assets daily. Her firm’s mission is to help global clients maximize cash flow and earnings by providing outsourced, automated, virtual commercial Credit Department services delivered through their hosted cloud platform, SMART. As a top expert in the field of trade receivables management, Pam is called on to professionalize Private Equity owned, Privately-held, and Publicly-traded companies’ trade receivables assets to achieve best-in-class results.
Prior to starting TCD, Pam was a Credit Supervisor at the Fortune 100 Company, 3M, for 13 years. Her 40 years of global trade credit management experience working in and consulting with over 500 manufacturers, distributors, and service companies represent an unparalleled level of experience and expertise in the industry.
Pam is a graduate of the University of Minnesota’s Credit and Financial Management program and a former instructor in the Graduate School at the University of St Thomas. She is a featured speaker for regional, national, and global industry webinars and conferences on valuing and managing trade receivables assets.
Thank you for being a part of NACM Business Credit Services!
Enjoy your Memorial Day weekend!