International trade credit has come a long way from the merchant caravans and handwritten letters of early commerce. Rather than traveling extensively or waiting weeks for a response from global counterparts, today’s credit professionals are scheduling Zoom calls, sending emails and closing deals in minutes without ever leaving their office. 

When a customer is too indebted to reorganize and rebuild, they may execute a general assignment for the benefit of creditors (ABC), a mechanism where the customer (the “assignor”) assigns its assets to an assignee, typically for the purpose of liquidating the assignor’s business. This method of liquidating (whether through a wind-down process or, in certain instances, a going-concern sale) avoids the potential unpredictability and cost associated with a bankruptcy filing.

For Erica Burke, CBA, manager, credit and collections at Superior Essex International LP (Fort Wayne, IN), her desire to learn and grow sparked a journey toward the Credit Business Associate (CBA) designation.

Growing in a field as dynamic as business credit requires continued education, as credit managers rise to meet the new challenges each day brings. Earning a certification through one of NACM and FCIB’s Professional Certification Programs signifies that a credit professional has established themselves as an expert in their community prepared to take on any new obstacle in their way. 

Today, the Dominican Republic remains one of the fastest growing economies in Latin America and the Caribbean (LAC). This year, its nominal gross domestic product (GDP) is projected to grow between 3.7% to 4.5%, a result of a rebound in the nation’s tourism, mining and construction industries, according to IMF data and World Economics reports.

As conflict in the Middle East intensifies, the agricultural sector is bracing for added strain as disruptions to key resources push costs higher.

Remember sitting in grade school, staring at a math problem that made absolutely no sense until your teacher turned it into a word problem? Suddenly, numbers that once seemed abstract had context, and everything clicked. Similarly, for people outside the credit department, data can be equally confusing—until it is not.

As more credit department functions transition to online platforms, credit professionals may find themselves working with customers to find the best way to transition away from traditional payment methods towards more streamlined online platforms.

As credit professionals grow and advance in their careers, education is a vital tool allowing them to stay on top of the shifting landscape of business credit. With evolving technology and changing economic conditions transforming the work of credit managers, a professional certification from one of NACM and FCIB’s Professional Certification Programs signifies a professional’s dedication to growing in the dynamic field of business credit.