Business Practices Archive

Automation and technological advancements have gained a significant presence in everyday credit processes—whether to provide easier ways to receive payments, communication with customers or overall efficiency. However, technological innovations always come with risk.

Climate change is increasing the frequency and intensity of severe weather events and natural disasters around the world. As of July 9th, the United States has experienced 15 weather and climate disasters in 2024 that have each caused more than $1 billion in losses.

Late payments can be a headache for even the most successful businesses in any industry—putting cash flow, customer relationships and business costs at risk. While most companies use late fees or other penalties to encourage their customers to timely pay, early payment discounts can also be a successful strategy to ensure timely (or early) payments.

As a new credit manager, understanding antitrust laws is key for safeguarding your company’s interests and ensuring compliance.

In a landmark 5-4 decision in Harrington v. Purdue Pharma that will significantly reshape corporate bankruptcy practice, the U.S. Supreme Court resolved a circuit split regarding the authority of a bankruptcy court to approve releases in favor of non-debtor entities without the consent of impacted third parties. Reversing the decision of the Second Circuit, the Supreme Court’s narrow majority held that such non-consensual releases—other than in the context of asbestos-related claims—are not authorized under the Bankruptcy Code. 

In today’s fast-paced business world, multitasking has become a key skill for professionals across industries. Multitasking is the ability to perform multiple tasks at the same time. It can sometimes look like juggling meetings or handling various projects both big and small.

Supply chain compliance is vital for businesses to maintain ethical standards, mitigate risks and uphold reputation contributing to long-term success and resilience in a globalized economy. Why it matters: To avoid security, financial or other risks from vendors, credit professionals must adopt best practices in supply chain compliance.

Since Colorado first legalized medical cannabis in 1996, more than half of the U.S. has legalized marijuana for recreational use today. But possession and distribution or sale remains illegal under federal law—meaning any money that can be traced back to state cannabis operations could expose banks to significant regulatory risk. Why it matters: Understanding the implications of liability is key for everyone in states where marijuana is legalized and for those conducting business with companies in these states. For credit professionals, there are many questions regarding how or if you sh…