Most credit tasks, from reviewing accounts to managing collections to handling disputes, are inherently time-consuming due to their complexity. These tasks require a keen eye for detail, often involving manual processes, multiple data points and regular follow-ups, all of which can drain resources and slow down overall efficiency. 

NACM’s Credit Managers’ Index (CMI) fell 1.2 points to 54.1 in December. Coming off the 26-month high set last month, the weaker reading is driven by a large drop in sales revenue and dollars collected on due and past-due invoices.

Armed with the knowledge and experience gained through nearly two decades in the B2B credit industry, Roxanne Price, CCE, CCRA, corporate credit manager at H&E Rentals (Baton Rouge, LA), is prepared to lead NACM into the future with respect to the industry’s age-old principles.

After a strong fourth quarter as the year closes, Poland’s economy is expected to continue to expand in 2025. With economic growth spurred on by increased consumption and infrastructure funding, the economy should remain strong despite predictions that inflation will pick up slightly in the new year.  

On today’s episode of Extra Credit…Most credit tasks, such as reviewing accounts, managing collections, customer research and handling disputes, are inherently time-consuming due to their complexity and the need for attention to detail.

It’s no secret that B2B credit management is a forward-thinking career. From building customer relationships and mitigating risk to forecasting business and economic trends, credit managers are focused on shaping the future. By setting goals and creating a plan to achieve them, credit professionals can secure their department’s long-term success.

There are very few professions that have not been touched and reshaped by the introduction of artificial intelligence. AI technology holds the potential to revolutionize professions through its ability to streamline day-to-day workflows, with increased efficiencies giving way for more impactful work. 

When considering the work of a credit manager, it is impossible to overstate the importance of interdepartmental communication, especially when it comes to the relationship between credit and sales. While the two departments work in tandem, with the sales team securing customers the credit team will then manage, in some offices, the two can be a bit isolated. 

In person customer visits, face-to-face meetings between a representative from your company and your customer at their location, are becoming less common. Video conferencing platforms like Zoom and Microsoft Teams have reshaped how businesses interact with customers, providing more convenient and cost-effective solutions.