The need for talented collectors has never been greater as economic challenges weigh on the cashflow of businesses. In order for your collections team to get the best results, they need to be assigned workload in a way that makes the most sense for your company. That way one collector does not become overwhelmed and unable to complete their daily tasks.

The September NACM Credit Managers’ Index rose slightly from its two-year low from a reading of 55.0 to 55.6. While the small improvement is encouraging, many respondents have a more urgent tone when describing business conditions, said NACM Economist Amy Crews Cutts, Ph.D., CBE.

When lending to construction contractors, credit professionals should carefully review financial performance and cash flow. The main concerns of bankers are within areas related to how contracts are managed and how contractors expand their businesses. If suppliers who sell to construction companies are unable to receive the materials needed, it can delay projects and bolster costs. But with major shifts in the economy, such as high inflation rates, the delays in the supply chain have caused gross profits of contractors to decline 12%, said Dev Strischek, principal of Devon Risk Advisory Gro…

Over the past year, development has finally gotten the attention it deserves. As it turns out, development is both a driver of attrition and incentive for recruitment. So, whether they’re coming or going, employees prioritize opportunities for growth—and leaders committed to cultivating robust and stable staffs must prioritize it too.

Construction input prices decreased 1.4% in August compared to the previous month, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics Producer Price Index data. Nonresidential construction input prices fell 1.4% for the month as well.

All eyes are on the economy as business leaders wait to see if the Federal Reserve will push the U.S. into a recession or pull off a soft landing. Opinions about the outcome are somewhat mixed—Oxford Economics predicts a “mild recession” come 2023; Goldman Sachs says the U.S. remains on a “narrow path” to a soft landing; and TD Securities puts the chance of a recession at 50% in the next 18 months.