Contracts are the foundation of construction projects. They provide written documentation of what the scope of the work will be, terms, budget, obligations and more. It is imperative to thoroughly read the terms you will be agreeing to before signing any contract at all.

The construction industry presents unique challenges for credit professionals due to its complicated nature. For example, credit professionals must assess the risk associated with multiple parties involved in a single project. Cash flows in construction often depend on project milestones and payments, making it challenging to predict when and how payments will be received.

Credit managers have a special skill that no other professional has—the ability to predict the future. But it’s not based on magic.

In the wake of a tumultuous economy and consistent interest rate hikes, more companies are under significant financial distress, struggling to pay debts and survive. This has given rise to “zombie companies”—businesses that are able to continue operating but are essentially insolvent and no longer profitable. Zombie companies serve as a chilling reminder of the complexities and challenges lurking within the economic landscape.

Today’s workplace has up to four different generations all working together. Take a look around your office. You’ll most likely see a mix of Baby Boomers (1946-1964), Gen X’ers (1965-1980), Millennials (1981-1996) and Gen Z’ers (1997-2012). The dynamics among different generations often give rise to perceptions, misconceptions and even the occasional workplace stigma. But if leveraged strategically, each generation can learn from each other and add value to the credit team.

What a week. The Republican-led House continues to demonstrate that it isn’t afraid to flip the table as it attempts to redefine “business as usual” in the House. First, a recap of the shutdown showdown.

NACM’s Credit Managers’ Index (CMI) gained 1.8 points to 52.6 in September. The improvement is welcome, but the CMI appears stuck on the precipice of a recession in business activity, said NACM Economist Amy Crews Cutts, Ph.D., CBE.

Just as a football team relies on every player’s commitment and passion to achieve victory, an organization thrives when its employees are fully engaged. Re-engaging employees is like reigniting the spark in a team that has momentarily lost its momentum. It’s about tapping into their potential, revitalizing their spirit and reminding them of their vital roles in the collective pursuit of success.

Fraudulent credit applications are on the rise—a concerning trend in the B2B credit world. A recent eNews poll revealed that 44% of credit professionals have seen an increase in fraud attempts from new customers filling out credit applications.