When it comes to data collection, not all CFOs face the same challenge. Join us as Jeff explains the massive data collection task he faced upon entering the CFO office and how he met it head on by introducing technologies and best practices designed to allow the firm to collect and analyze its daily data deluge.
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“Revenue is really the key indicator. We look at our loss rates, analyze our originations on a static pool basis, and look at losses by month of origination. We break this down by product type, by collection type, by underwriter, and by broker, so that we can get an understanding of the trends in losses.”
“I had a boss who told me that the only stupid question is the one that you don’t ask. I have found that to be a guiding light for me over my career. I have never been afraid to ask a question if I don’t know something, and today, for me in my management role, I find that more applicable than ever before.”
“We needed to be making better decisions as far as how we were pricing our assets and servicing our customers and how these decisions were impacting our profitability went. So we created a unit that we call the business intelligence unit. We brought in a statistical modeling package from IBM by the name of SPSS to help do some statistical analysis, identify trends, manage the portfolio, and help us to look forward.”
- Jeff’s Site