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Credit Q&A - Lori Martin

Director of Global Credit and Collections at Twist Bioscience

What is your background?

I have a B.S. in Economics from the University of Massachusetts Amherst and 40 years in the credit and collection industry. My experience includes working for service and manufacturing companies, and I’m currently in the bio-tech industry.

How did you first enter the field of Credit & Collections?

My first job out of college was as an International Credit Coordinator at a shoe manufacturing company in Waltham, MA.  I worked for a seasoned credit professional who taught me all the nuances of international credit and introduced me to NACM, which led me to a long career in the credit and collection space.

What is your current job title and what are your responsibilities?

I am currently the Director of Global Credit and Collections at Twist Bioscience.  I was hired less than two years ago to create the company’s accounts receivable organization. I’m responsible for collections, billing, and cash application.  We outsource our functions to offshore partners in India and Europe, and in the US we work with a small onshore team on both the east and west coasts.  Cash application and billing are done in India and 80% of our collections are handled by ABC-Amega, with the remaining accounts managed by a European outsourcing partner.

Can you describe your typical day?

A typical day for me is attending Zoom calls for four to six hours, developing and documenting new processes, leading cross-functional projects, and addressing emails.  Like many companies today, we are challenged with having limited resources and underdeveloped systems and processes, so we are focused on process improvements and on developing best practices.

What would you say are your greatest accomplishments in this industry?

I’m most proud of the work I’ve done to drive performance in each organization I have worked for by creating or restructuring teams, meeting goals, coaching individuals, and developing their careers. I also led NACM New England as Chairman of the Board early in my career.

What advice would you give someone thinking of entering the field?

My advice for entering any field is to educate yourself, take initiative, and volunteer to take on new responsibilities. Also, read, read, read to become a subject matter expert!

If you weren’t working in credit, what do you think you’d be doing career-wise?

I had two other career paths that interested me: criminal justice and interior design. The business route appeared more lucrative when I was in college, but I still miss the idea of being a Probation Officer or an Interior Designer.