Internet as a Source of Credit Information

The amount of general information on the Internet is truly overwhelming: publications, periodicals, and news services. Internet access does make it easy for the credit executive to check out many more publications than one would normally purchase to read. All the major newspapers are available on the Web. Right now, the Wall Street Journal is one of several charging an access fee. Publications such as Fortune and the Economist are online, as is Business Credit (on the NACM site).

Also useful are the financial networks, such as CNN Financial News and Bloomberg. Finally, the Internet offers a fast, efficient, and effective way to communicate with customers.

E-mail seems to work faster and has an inherent friendliness that is a bonus in credit management situations. Somehow, people find it easier to compose e-mail messages rather than to use regular mail. Of course, the credit executive must ensure that e-mail messages adhere to the same standards as regular letters. A relaxation of style does not mean relaxing credit policy or normal business practices.

Much credit information is confidential in nature. The professional credit executives should take every precaution to maintain standard levels of confidentiality. This may mean using encryption or otherwise securing messages and transmissions. Security also means controlling access to the computer where e-mail messages are stored.