Already embroiled in a years-long conflict with Russia, the Ukrainian economy is experiencing new stress as the conflict in the Middle East escalates. As oil prices rise in response to the war in the Middle East, Ukraine could see inflation raising by 1.5 to 2.8 percentage points, according to Reuters. National Bank of Ukraine Governor Andriy Pyshnyi said Ukraine’s central bank would remain steadfast with their target of lowering inflation to 5%.

Acquisitions bring about significant changes for companies, often involving major shifts in ownership, leadership and culture. Companies may experience restructuring to increase efficiency, integrating technology or talent, changing reporting structures and altering customer services. Typically, there is no disruption to the order-to-cash cycle. However, contacts may change, making it more challenging for credit managers to stay in communication and collect payment.

For many credit professionals, bankruptcy can be one of the most stress-inducing business experiences. It is often a costly and lengthy process, testing a company’s financial resilience and the emotional bandwidth of everyone involved. Important deadlines arise quickly, notices are frequently sent by ordinary mail and failure to act on certain notices before deadlines can result in the loss of your company’s rights and claims.

Mechanic’s lien laws are the bedrock of the construction credit field, offering credit managers protection as they await payment during long projects. As credit managers work in multiple states, they will encounter two distinct types of liens: full price liens and unpaid balance liens. While both offer protection, it is critical that credit managers understand what type of lien they are filing.

The role of credit professionals has never been more important. Through various economic challenges and industry changes, credit teams have led initiatives, improved operations and made strategic decisions to mitigate risk.

With the global credit landscape always in flux, education is a critical tool for credit managers across the field. Earning a designation through one of NACM and FCIB’s Professional Certification Programs prepares credit professionals of all experience levels for the new, unique challenges that appear in the ever-shifting world of business credit.  

Bordered by Mexico, Guatemala and the Caribbean Sea, Belize has flourished, welcoming tourists from around the world. Though culturally and geographically attractive, the country’s modest economy is consistent with other small developing states.

Payment delinquency is a common but costly reality for credit professionals. Although cash flow issues are the primary cause of payment delays, sometimes the fault lies with internal inefficiencies on the servicing company’s end. Distinguishing between the two causes can help determine who is responsible for the delay and how to respond.

In a field as vast and dynamic as business credit, building a strong professional network is critical to staying afloat in an ever-changing industry. Career changes, whether it be a promotion to a new position or a new company, may present new challenges for credit professionals, but having a network of peers in the field to lean on can help them rise to new challenges.