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The holiday season is one of the most anticipated sales periods for businesses every year—and holiday spending surged to record levels over the last three years amid pandemic-era stimulus money. Despite inflationary pressures and high interest rates, spending is expected to grow between 3% and 4% to roughly $966.6 billion. Although this is a slower growth rate than the past three years, it is consistent with the average annual holiday increase of 3.6% from 2010 to 2019, according to the National Retail Federation (NRF).

Customer payment portals have become a seemingly permanent aspect of B2B trade with the growth of the internet and technology. These portals, such as Ariba or System Applications and Products in Data Processing (SAP), make it easier for the customer but often more difficult for the credit department.

The U.S. economy remains resilient with robust job growth, steady consumer spending and strong GDP growth of 4.9%—all despite one of the most highly anticipated recessions ever. However, many factors continue to weigh on the economy and have the potential to offset the positives. A recent eNews poll revealed more than two-thirds of credit professionals believe a recession is around the corner if we are not in one already, while only 31% see the chance of a soft landing.

Every journey to success begins with education. Whether you aspire to secure a significant promotion, a raise or greater respect in the credit industry, it’s crucial to demonstrate your dedication to your profession. NACM’s Professional Certification Program is a way for credit managers to elevate their careers and showcase their expertise. An independent study of NACM members revealed those who hold certifications average 6% higher salaries than those who do not, and many credit managers hold more than one certification.

NACM’s Credit Managers’ Index (CMI) fell 1.4 points to 51.2 in October. The CMI remains just barely in expansion territory above 50 and its lowest levels seen outside of a recession, said NACM Economist Amy Crews Cutts, Ph.D., CBE.

Protecting security interests is essential for creditors to secure their rights and claims in the event of a debtor’s default or bankruptcy, ensuring the collateral serves as a valuable asset to satisfy debt. To do so, trade creditors can file a Uniform Commercial Code lien, also known as a UCC filing, a legal document that serves as a public notice of a secured transaction, providing information about a creditor’s interest in the debtor’s personal property collateral.

Burnout has become a corporate vampire, draining the life out of employees through emotional exhaustion and lost productivity. By understanding the causes of and the preventative measures for burnout, credit professionals can maintain the physical and mental well-being of their credit team as well as improve performance in the workplace.

Combining business with opportunities for fun, relaxation or adventure is a popular trend on the rise in the travel business world—also known as “bleisure,” or the mix of business and leisure. Work life and personal life usually have a clear separation, but the traditional views of business travel are starting to change. Attending business meetings by day and unwinding at a beachfront or exploring the local area by night offers professionals several advantages of productivity.