As we usher in the new year, we thought we’d examine the shifting currents of the workforce. Let’s unravel the latest labor trends and workforce challenges identified in eNews poll questions. A recent poll indicated that 32% of credit professionals point to an increased workload as a big challenge while navigating layoffs or workforce adjustments within their credit team closely follow. Maintaining team morale amid the fear of potential layoffs is a challenge for 14% of respondents and another 14% have struggled to hire and retain skilled credit managers.

The NACM Credit Managers’ Index (CMI) ended 2023 just 0.7 above where it started the year. In December, the Index gained 0.3 to a reading of 52.6. The CMI continues to show considerable weakness but remains above the contraction threshold. “It points to considerable decline in credit conditions that are leading indicators of economic activity,” said NACM Economist Amy Crews Cutts, Ph.D., CBE. “The Fed’s aggressive stance to fight inflation has hit businesses through increased borrowing costs. The CMI is showing these stresses with higher delinquencies on accounts receivables and increa…

In a year marked by innovation, resilience and dynamic shifts in the B2B credit profession, the National Association of Credit Management (NACM) has been at the forefront, delivering a wealth of insightful content and expertise. As we bid farewell to 2023, it’s time to reflect on the profound impact of NACM’s contributions—articles, webinars, podcasts, white papers and more—that have guided credit managers through challenges, uncovered opportunities and set the pace for success. Join us on a journey through the pivotal moments and top-notch insights from 2023.

General liability insurance, also known as business liability insurance, is pivotal in the construction world as it helps cover claims of bodily injury or property damage. But that may change in Illinois as the state’s Supreme Court held commercial general liability (CGL) policies can provide coverage in Illinois for damage caused by inadvertent construction defects. 

The world’s biggest shipping companies are rerouting vessels away from the Red Sea as the global supply chain faces severe disruption amid conflicts related to the Israel-Hamas war. “The Iran-aligned Houthis of Yemen are playing an escalating role in the conflict in the Middle East, attacking shipping in the Red Sea and firing drones and missiles at Israel in a campaign they say aims to support Palestinians in the Gaza war,” reads a Reuters article. 

New Year’s resolutions often symbolize a fresh start and a commitment to improvement—a chance to become the best version of yourself in both your personal and professional lives. As we approach the New Year, credit managers are presented with limitless opportunities for growth and success.

Credit management is a risky business. Every credit decision is directly influenced by ever-changing micro- and macro-economic factors. To better mitigate risk, credit professionals must be proactive in their credit limit assessments for new and existing customers. According to a recent eNews poll, most credit professionals review existing customer credit limits on an annual basis (64%), while some reassess credit limits as frequently as every six months (23%). Others reassess credit limits less often, such as 18 months (4%) or 24 months (10%) at a time. The frequency of reviewing credit li…

Learning a new language requires patience and practice to fully grasp its nuances. It is a form of communication with words, abbreviations and symbols to relay meaning. Even simpler abbreviations such as EOD (end of day) or WFH (work from home), acronyms simplify communication and present a sense of belonging when using the terms correctly—especially in your workplace. Credit professionals across all industries have their own abbreviations or terms to use relative to their department and customers, but some terms are universal—and every credit professional should have an idea of what they m…