3JM Company Inc.

Published Articles by David Balovich

Published in: Creditworthy News
Date: 5/3/00

The viability of every business activity is a result of daily changes in
its net working capital. We define net working capital as current assets [working capital] minus current liabilities.

For the credit department that means converting as much of the account receivable into cash and avoiding bad debt write off. This is generally accomplished by qualifying the customer base using character, capacity and capital and strengthening the customers promise to pay through the use of profitability enhancements; guarantees, security agreements, letters of credit, joint check agreements, etc.

Many credit departments are very successful in their endeavors while others struggle to maintain acceptable performance standards and often fall short of their goals.

Why? We believe it has to do with the attitude and philosophy of key personnel in the organization towards credit and collections. Over the past fifteen years, we at 3JM Company have studied successful credit operations and developed a seven-step program that we believe makes the difference between a successful credit operation and one that continually falls short of the organizations expectations.

We would like to share our program with you. The cost is minimal but you will have to do more then read this column to obtain it. 

Send a number 10, self-addressed, stamped (. 33) envelope to Seven Step Program care of 3JM Company, PO Box 406, Lake Dallas, TX 75065. 

We will send you a copy of our program.

I wish you well.

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