Treasury officials have warned lawmakers to come to an agreement prior to the X-date of when reserves will run dry. The X-date depends on both tax collections and government payments, and if there is not enough money to provide for the country’s financial obligations, the likelihood of a default is very high.

Lien rights grant legal authority for contractors, subcontractors and suppliers to file a mechanic’s lien against the owner’s property or, in the case of a government project, the right to make a bond claim. It is also a security to force payment. But statutory changes like with Texas’ recent property code make it harder to protect those lien rights. In order to protect their lien rights, credit professionals must inform their customers of statutory changes immediately.

A company’s success is measured by its sustainability. With several environmental, economic and social challenges today, companies have to consider what steps to take now in order to prepare for the future—which is where ESG standards fit in.

Rebuilding a credit department or becoming credit manager at a new company is no easy task. Where do you start in addressing issues and improving efficiency? Do you hire internally or externally? How do you improve department culture? Start with these seven steps to get your credit department on the right track.

As one of the most popular forms of communication in the work world, email provides an instant way to get your message across and conduct business. Several advantages come with email communication and almost all workplaces use the tool to communicate internally and externally. In fact, 75% of credit professionals said they use email as their primary form of contact with customers, according to an eNews poll—followed by phone call (21%) and text message or postal service (3%).

Bankruptcies remain top of mind as commercial Chapter 11 and Subchapter V filings have increased significantly over the past few months. Small business Subchapter V’s increased 81% year-over-year in April and commercial Chapter 11 filings were up 32%, per Epiq Bankruptcy.

Cash flow is the backbone of every business. Supply chain financing is just one tool available to companies to get paid faster in a volatile economy.