Business Practices Archive

This year’s slowed job market presents numerous challenges for job seekers. With evolving industry demands, technological advancements and economic shifts, finding the perfect job has become increasingly difficult. Why it matters: For those on the hunt for a new job, it’s important to consider various factors that may hinder the job search and identify strategies to improve their marketability in the job market. Last year, the labor market tightened after a period known as the “Great Resignation.” The trend was sparked by many factors including pandemic burnout, interest rate hik…

As the chilly season of ghouls, ghosts and gore begins, we’re reminded of one of the scariest scenarios plaguing credit managers; the curse of cash flow problems. Whether the issue is seasonal for you or only pops up every once in a while, cash flow issues can trouble even the most experienced credit professionals, regardless of whether it is your company or your customer experiencing the slowdown. 

Letters of Credit (LCs) are one of the most versatile and secure payment instruments used in international sales. However, securing an LC is becoming increasingly challenging in today’s global business environment. Credit professionals seeking letters of credit must now invest more time and resources in ensuring they meet evolving criteria.

Whether you’ve started a new position, or your company has recently merged with another, you might have a hard time managing customers you inherit from previous credit managers. Regardless of how you’ve gained these customers, there are several problems that might arise.

As a credit manager, you’re no stranger to a thoroughly filled email inbox. Whether it’s an email from customers, team members or new credit applications, it can be hard to stay on top of all of it and even harder to keep it organized.

Communication methods for B2B credit managers have evolved significantly over the years. Traditionally reliant on face-to-face meetings and postal correspondence, credit managers now benefit from a range of digital tools such as email and online portals and text messages.

In the four years since Congress amended the bankruptcy code to assist small business reorganizations, credit managers still have mixed opinions on the success of these filings.  

NACM’s Secured Transaction Services (STS) provides and prepares construction credit professionals with several tools for success. STS handles projects and assists credit professionals in securing corporate receivables to ensure profitability.