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For AR Success, Participate in Your Industry Credit Groups

Originally Published: April 2014


FOR AR Success, Participate in Your Industry Credit Groups

Source: Managing Credit, Receivables & CollectionIOFM, July 2012

In a business climate characterized by volatility and growing risk, AR and credit pros need-more than ever-to thoroughly assess the creditworthiness of current and potential customers, something that is by definition a moving target.

This is one area where there’s definitely strength in numbers. If hundreds or even dozens of trade vendors in the same industry are able to systematically pool data on the financial health, payment practices, and default risk of thousands of customers, AR departments are the clean winners. The is exactly what happens in an Industry Credit Group.