36 Understanding Credit Risk For Dummies, Graydon Special Edition Monitor Customers with a CIP Top‐notch credit information providers have monitoring sys- tems for clients’ use. Many credit information providers have a monitoring system that automatically alters a rating (either up or down) based on an event change – perhaps the filing of new accounts or changes in directors. Using that system can let you know if the credit limit you set for a customer six Applicationmonths ago is still relevant. If your credit information pro - vider doesn’t have a monitoring system in place, shop around for a new one! And if you don’t have a credit information provider, get one! LoopRelease in Line Management & Don’t keep that new information you’ve collected all to your- self! Liaise with your boss and other senior management and keep them apprised about the company’s clients. Voice your Deploymentconcerns. No one likes nasty surprises! Here’s your chance to become a hero – or at least to say, ‘I told you so!’ Continue3rd to IBM Fight Limited Fraud Edition Despite all your due diligence, you may still be taken in by a fraudster. Fraud happens all the time, and no one is immune. Commercial fraud is a multi‐billion‐pound threat that shows no signs of abating. And it covers every industry sector, not just fast‐moving consumer goods (FMCG). Don’t become complacent. Ensure detection methods are in place or, better by yet,Eric utilise Minick, a credit information Allan provider Wagner, (such as Graydon UK Ltd), which featuresClaudia a specialist Ring fraud-detection team. Stick to Your Guns As a credit professional, you hold a great responsibility for the good of your company. Never forget that! Refuse to be rushed into opening an account – even if you have the head of sales breathing down your neck. Be diligent and thorough, ensure that everyone follows the procedures, and don’t agree to credit account facilities until you’re 100 per cent sure. You won’t totally avoid bad debts, but you’ll avoid most of them! These materials are © 2017 John Wiley & Sons, Inc. Any dissemination, distribution, or unauthorized use is strictly prohibited. 36ApplicationUnderstanding Release Credit & Deployment Risk For Dummies, For Dummies Graydon® Special, Edition 3rd IBM Limited Edition Published by JohnMonitor Wiley & Sons, Inc. Customers with a CIP 111 River St. Hoboken, NJ 07030-5774 www.wiley.com Top‐notch credit information providers have monitoring sys- tems for clients’ use. Many credit information providers have Copyright © 2017 by John Wiley & Sons, Inc. a monitoring system that automatically alters a rating (either No part of this publicationup or down) may be based reproduced, on an stored event in a changeretrieval system– perhaps or transmitted the filing in any form or by any means, electronic, mechanical, photocopying, recording, scanning or otherwise, except as permittedof new under accounts Sections 107 or or changes108 of the 1976 in directors. United States Using Copyright that Act, system without the prior writtencan permission let you of know the Publisher. if the Requestscredit limitto the youPublisher set for permission a customer should six be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, (201) 748-6011,months fax ago (201) is 748-6008, still relevant. or online If at your http://www.wiley.com/go/permissions credit information pro- . vider doesn’t have a monitoring system in place, shop around Trademarks: Wiley, For Dummies, the Dummies Man logo, The Dummies Way, Dummies.com, Making Everythingfor Easier,a new and one! related And trade if you dress don’t are trademarks have a creditor registered information trademarks of John Wiley & Sons, provider, Inc. and/or get its one! affiliates in the United States and other countries, and may not be used without written permission. IBM and the IBM logo are registered trademarks of International Business Machines Corporation. All other trademarks are the property of their respective owners. John Wiley & Sons, Inc., is not associated with any product or vendor mentionedLoop in this book.in Line Management LIMIT OF LIABILITY/DISCLAIMER OF WARRANTY: THE PUBLISHER AND THE AUTHOR MAKE NO REPRESENTATIONSDon’t OR keep WARRANTIES that new WITH information RESPECT TO THE you’ve ACCURACY collected OR COMPLETENESS all to your- OF THE CONTENTSself! OF Liaise THIS WORK with AND your SPECIFICALLY boss and DISCLAIM other ALLsenior WARRANTIES, management INCLUDING and WITHOUT LIMITATIONkeep them WARRANTIES apprised OF FITNESSabout FORthe A company’s PARTICULAR PURPOSE. NO clients. Voice WARRANTY your MAY BE CREATED OR EXTENDED BY SALES OR PROMOTIONAL MATERIALS. THE ADVICE AND STRATEGIES concerns.CONTAINED HEREIN No one MAY likes NOT BE nasty SUITABLE surprises! FOR EVERY Here’s SITUATION. THIS your chance WORK IS to SOLD WITH THEbecome UNDERSTANDING a hero THAT– or THEat least PUBLISHER to say, IS NOT ‘I ENGAGEDtold you IN RENDERINGso!’ LEGAL, ACCOUNTING, OR OTHER PROFESSIONAL SERVICES. IF PROFESSIONAL ASSISTANCE IS REQUIRED, THE SERVICES OF A COMPETENT PROFESSIONAL PERSON SHOULD BE SOUGHT. NEITHER THE PUBLISHER NOR THE AUTHOR SHALL BE LIABLE FOR DAMAGES ARISING HEREFROM. THE FACT THAT AN ORGANIZATION OR WEBSITE IS REFERRED TO IN THIS WORK AS A CITATION AND/OR ContinueA POTENTIAL SOURCE OF FURTHER to INFORMATIONFight DOES Fraud NOT MEAN THAT THE AUTHOR OR THE PUBLISHER ENDORSES THE INFORMATION THE ORGANIZATION OR WEBSITE MAY PROVIDE OR RECOMMENDATIONS IT MAY MAKE. FURTHER, READERS SHOULD BE AWARE THAT INTERNET WEBSITES LISTEDDespite IN THIS all WORK your MAY due HAVE diligence, CHANGED ORyou DISAPPEARED may still BETWEEN be taken WHEN in THISby a WORK WAS WRITTENfraudster. AND WHENFraud IT happensIS READ. all the time, and no one is immune. Commercial fraud is a multi‐billion‐pound threat that shows For general informationno signs on ofour abating. other products And and it coversservices, everyor how toindustry create a custom sector, For not Dummies book forjust your fast‐moving business or organization, consumer please goods contact (FMCG). our Business Don’t Development become Department in thecomplacent. U.S. at 877-409-4177, Ensure contact detection [email protected] methods ,are or visit in placewww.wiley.com/ or, better go/custompub. For information about licensing the For Dummies brand for products or services, contact BrandedRights&[email protected], utilise a credit information. provider (such as Graydon UK ISBN: 978-1-119-41595-4Ltd), which (pbk); features ISBN: 978-1-119-41594-7 a specialist fraud-detection (ebk) team. Manufactured in the United States of America 10 Stick9 8 7 6 5 to4 3 2Your 1 Guns Publisher’sAs Acknowledgments a credit professional, you hold a great responsibility for the good of your company. Never forget that! Refuse to be Some of the rushedpeople who into helped opening bring an thisaccount book to– even market if youinclude have the the following: head Project Editor:of sales Carrie breathing A. Burchfield down yourBusiness neck. BeDevelopment diligent and thorough, ensure that everyone follows theRepresentative: procedures, Sueand Blessing don’t agree Editorial Manager:to credit Rev account Mengle facilities until you’re 100 per cent sure. You Production Editor: Siddique Shaik Acquisitionswon’t Editor: totally Steve avoid Hayes bad debts, but you’ll avoid most of them! These materials are © 2017 John Wiley & Sons, Inc. Any dissemination, distribution, or unauthorized use is strictly prohibited. 36TableUnderstanding of Credit ContentsRisk For Dummies, Graydon Special Edition Monitor Customers with a CIP INTRODUCTION ............................................................................................... 1 AboutTop‐notch This Book credit ................................................................................... information providers have monitoring sys-1 Iconstems Used for clients’in This Book use. .......................................................................Many credit information providers have2 a monitoring system that automatically alters a rating (either Beyond the Book .................................................................................. 2 up or down) based on an event change – perhaps the filing of new accounts or changes in directors. Using that system CHAPTER 1: What Drives Effective Release can let you know if the credit limit you set for a customer six andmonths Deployment? ago is still relevant. ........................................................................ If your credit information pro- 5 Continuousvider doesn’t Delivery have and a monitoring Continuous system Feedback in place, .............................. shop around5 Continuousfor a new Integrationone! And if andyou thedon’t Continuous have a credit Delivery information Pipeline provider, .................................................................................................. get one! 7 Deploying what you have, virtualizing what you don’t ............... 8 Decreasing expensive failures ....................................................... 9 Scaling complex releases and deployments.............................. 10 LoopEliminating in Line the Release Management Weekend and Improving TeamDon’t Morale keep .......................................................................................that new information you’ve collected all to your-12 self! Liaise with your boss and other senior management and CHAPTER 2: Bestkeep Practices them apprised for about Deployment the company’s clients. Voice