Credit on the Go podcast, host Bob Shultz interviews Pam Krank, President of The Credit Department (TCD), about the evolving role of automation and AI in credit, collections, and receivables management. Pam shares TCD’s journey from a consulting firm in 1993 to a leading provider of outsourced credit management and “smart automation” solutions for mid-market companies managing complex, acquisition-heavy portfolios.
The discussion covers:
Must-have automation features: customizable templates, robust reporting, dispute tracking, payer-level accounting, and family tree exposure analysis.
Cross-functional connectivity: breaking down silos between sales, customer service, warehouse, and finance to pinpoint and eliminate root causes of disputes.
AI’s role: distinguishing true AI from rules-based workflow, leveraging AI to handle routine tasks, and managing accuracy challenges during implementation.
Implementation challenges: securing executive buy-in, proving ROI, and avoiding costly vendor delays through TCD’s prebuilt workflows and deep industry knowledge.
ROI drivers: enabling business growth without adding headcount, rather than purely reducing DSO.
Change management: overcoming staff resistance through training, education, and positioning automation as a way to elevate team skills and eliminate repetitive work.
Pam emphasizes that successful automation depends on selecting the right solution for the portfolio, ensuring strong training before and after go-live, and continuously engaging staff to maximize adoption and value. The conversation offers practical, experience-based insights for credit managers, finance leaders, and executives considering automation upgrades.
