Swot Analysis Of Graco Inc, A Minneapolis Based Company Essay
908 WordsApr 25, 20164 Pages
I work as a Credit Representative for Graco Inc, a Minneapolis based company. Graco Inc is a manufacturing company provider of premium pumps and spray equipment for fluid handling in construction, manufacturing, processing and maintenance industries. As a Credit Representative, we handle both the Credit and Collection functions. In Credit, customers are evaluated on their credit history based on financial statements, credit reports and trade references to determine the financial risk. Our goal is to support sales by extending credit and terms to customers. On the other hand, as Collectors, we perform collection efforts to ensure accounts are paid on time and resolve any outstanding balances. Customers whom tends to struggle on payments and pay late on their bills, our leverage is to hold orders to collect debt.
As technology advances over the years, we have experienced and noticed that the trend in how payment are received have shift tremendously. Twenty years ago, check was the preferred way of payment. In today’s world, more and more payments are done by credit cards. Credit card transactions are instance that provides a faster payment method.
At Graco Inc, we have put controls and processes in place over the years to ensure that the credit card process is secured. Although we have put in many hours to close the gaps between the credit card processes, we are still exposed to many credit card risks. We receive credit card information via email, fax and/or over the phone.