Business Practices Archive

Over the past 25 years, businesses have increasingly moved from paper-based invoicing to digital and automated invoicing systems. The shift suggests that the invoicing process will eventually be completely paperless.

A personal guarantee, a legal commitment where an individual pledges to cover the business’s debts if the promise to pay an obligation is broken, has become a significant tool in the credit industry.

Deciding when to write off an account as bad debt is one of the most challenging calls that credit managers face.

As year-end approaches, credit professionals face a familiar haunting: customers suspending payments and disappearing into the night, causing cash flow challenges just when stability is needed most. From dodging payments to “ghosting” invoices, slow-paying customers can turn the year-end into a horror story for credit teams.

As budgeting season kicks into high gear for many companies, credit managers are finding themselves ready to advocate for their department’s needs. Whether working solely on department budgets, helping to shape company-wide spending plans or anticipating risk, the process can be daunting.

Credit managers frequently dive into new projects, whether that’s implementing new technology or updating a credit policy. Effective project management is key to successfully completing any project, no matter its size.

The debate over whether to combine or separate credit and collections functions is a hot topic in the B2B credit industry. Companies on both sides of the argument offer compelling reasons for their approach.

The recent weather events remind us that natural disasters can have a significant impact on communities and businesses. In late September, Hurricane Helene touched down on northern Florida and caused major flooding in North Carolina and Georgia. It killed more than 230 people and resulted in roughly $225 billion in economic loss. Just last week, Hurricane Milton made landfall in Florida creating at least $160 billion in damage and economic loss.