# Problem

  • The inability to know for sure what the total outstanding exposure was to a particular customer. This left the company vulnerable to being overexposed to any one customer.  In addition, the process of gathering this information could take as little as 15 minutes or as much as 2-3 hours.

# Action 

  • Since each billing location had a unique billing code the first step was to meet with the IT team, and determine a way for each credit and collection specialist to "point" the individual billing codes up to a parent group.  
  • Meet with the CFO to determine the best method for calculating exposures on our rentals,  operating leases, finance leases and other tailored programs and ultimately determine if a real-time calculation could be presented.

# Result

  • After implemention any user could see within seconds not only how much credit exposure the company had with any individual customer, the user could drill down to see the exposure figures broken down by transaction types, individual sales order numbers and even individual assets that were shipped out on an order.  This information proved vital when attempting to establish or review credit lines.
  • This application also made it easier for a credit analyst to approve orders on accounts that they are unfamiliar with.

 # Problem  –

  • I inherited a problem customer account with several months of invoices outstanding, however the customer vehemently denied even having the equipment in their possession.  This left my company with the prospect of incurring further unpaid bills each month or having to write off the entire balance.

# Action –

  • I met with the company Controller to determine a strategy.  Test and measurement equipment periodically needs to be taken in for calibration. I decided to call the equipment manufacturer and provide them with the unique asset# of the equipment to see if it had been calibrated since the date of our oldest outstanding invoice.

# Result –

  • As it turned out the asset had been recently calibrated(sent in by the customer).  Once I presented the customer with this evidence, it was obvious that they had the equipment in their possession and agreed to pay all outstanding invoices ($11,000+) immediately.

#Problem –

  • Individuals posing as new and current customers were using stolen credit card numbers to obtain highly sought after (and expensive) test equipment. One unit in particular, Anritsu S332D, S331D (Sitemaster) was becoming very popular among these types. They used various fraudulent methods to acquire this equipment.

#Action –

  • I contacted our credit authorizer and explained our situation. They explained the credit card process step-by-step. This conversation provided me with some fresh ideas on how to protect our assets.

#Result –

  • I created a step-by-step written procedure that was adopted as SOP for all credit card transactions within the credit department. The use this procedure stopped our credit card fraud problem dead in its’ tracks.

#Problem –

  • An unknown company from Mexico presented our sales department with a large leasing opportunity.  Up until that point my company had never done a leasing transaction outside of the United States and the prospective customer was risky, credit-wise.

#Action –

  • I was installed as the chief point of contact for all internal and external parties.
  • Over the next several weeks I negotiated various options with representatives from my company (Vice-President of Sales, Controller, outside attorney) and several representatives from the customer and their attorney. Our discussion involved the use of acceptable security instruments in order to complete the deal.

#Result –

  • Our company successfully completed the largest lease transaction(at that point) to a foreign customer.
  • Since the company was not well established, they ended up paying a premium leasing rate that made the transaction very profitable.
  • My company was much more comfortable pursuing future international lease transactions.
  • I was presented with the "Presidential Service Award" by our CEO for my efforts in completing this deal.