Making Your Credit Department Better

In today’s world, a business either stays with the times or gets left far behind. Current technology keeps changing quicker than we can grasp how to work with the changes made yesterday. Most Credit organizations provide the ability for their members to hold meetings with their peers to discuss common methods and difficulties. But BPCA treats your credit department as a part of the BPCA family, and provides a resource to make them perform their responsibilities better.

BPCA is an association that wants their members to have the best information possible to make their credit granting decisions easily and properly – within the limits of each member’s own credit policy.

There is a link on BPCA’s web page, www.bpca.org or www.industrycreditgroups.com, which will take you to the cost effective and complete BPCA Industry Interchange Report system.

The BPCA Interchange Reports contains payment experience of other members of your industry group. The industry information is provided by the BPCA members as they submit their Summary A/R Aging each month. Information (data files) provided by members are secured so no one is able to obtain the data in the raw format it is submitted to BPCA. This should relieve the perception Senior management might have regarding competitors being able to obtain your entire data file. Using The BPCA Interchange reports you will notice they provide a “Credit Score” and a “Risk” value on the Debtor. Many Credit Departments have moved to Scoring as the way to rate customers and to establish credit limits. Scoring is not a new thing, but now it is being provided to you on the Interchange Reports, and you are able to set your own parameters to fit your company’s credit policy. In addition to the industry information, there will be non-industry information. This is broken down separately, and you can see how the customer is paying all of their Creditors – not just in your industry.

The BPCA Interchange Reports are a superior way to obtain the information you need to make sound credit decisions. However, enhancements are continuous to improve the information you receive.

As an introduction to the BPCA Focus Reports, BPCA is offering each new member five (5) free reports. After the five free reports, you will be invoiced quarterly for each report you obtained (obtained includes viewing, saving or printing a report). Another PLUS is you are able to save the report on your PC for reference at a later time. Have you ever printed a report, and then not be able to find where you placed the hard copy? That is not a problem with BPCA. You are able to view any report you looked at (or printed) previously, and with no additional cost to you. All you have to do after you logon is go to “My Account” and click on “History”. This gives you the history of all reports your company has pulled, and you can re-print any report you require.

BPCA feels you will be pleased with the information provided to you on the BPCA Interchange Reports.