Bringing credit "home": a new wave in retail?

Article Abstract:

A department-store company is now handling its own private label credit program after a 16-year relationship with a third-party processor. The decision to bring home its credit program came after the company acquired Maison Blanche which already had a sophisticated and well-managed private label credit centers. The company simply expanded the Maison Blanche facility to allow for the processing of credit for the whole company. The new credit center now has 400 associates and is located in a 80,000-sq. ft. facility, as compared to 75 people and 10,000-sq.ft. of the original Maison Blanche center. New hardware, new software, new telephone systems, new department heads and new processes were also assigned to improve the credit facility. The transition to the new credit program was made easier through the assistance of the company's management information system department. The result is improved coordination between credit and merchandising.

Department Stores, Management, Case studies, Services, Credit departments

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Credit information - superhighway to the future

Article Abstract:

The role of credit managers is rapidly evolving as a result of the many changes in the business environment. Increasing competition and rapid economic globalization are reforming the business world. Information technology is likewise re-shaping business by providing companies with pertinent data as soon as they are needed. In response to these trends, companies attempting to succeed in this volatile world are reengineering and outsourcing their functions. These changes require credit professionals to take on a more strategic role by broadening their skills and performing more sophisticated tasks. They are no longer tied down to mere financial and accounting duties, and are getting more involved in strategy- and competition-related duties.

Evaluation, Practice, Credit managers

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