In many companies, credit professionals are expected to be both generalists and specialists. Credit professionals must become generalists because it is in their company's best interest - and therefore in their best interest to do so. No matter what additional duties become the responsibility of the credit department, the obligation to safeguard the company's investment in accounts receivable remains paramount.
Some of the additional tasks that the credit manager or credit department may be asked to complete include:
Credit managers who lose sight of their primary responsibility are unlikely to find that senior management will accept the excuse that the credit department staff was distracted by special assignments. On the other hand, new assignments should not be avoided or shunned by the credit manager. The advantages of accepting new assignments include:
Many companies are enthusiastic about the team approach to problem solving. It has been proven that a collaborative approach in which employees from different disciplines are brought together to problem solves results in creative solutions, a greater sense of teamwork, and a better outcome than an individual could accomplish alone.