Business Practices Archive

The B2B automation market, once dominated by a few key players, is now saturated by hundreds of service providers. This makes finding the right automation vendor much more challenging.

Imagine a stretch of land where financial institutions are as elusive as an oasis in the desert—that’s a banking desert, an area devoid of bank branches.

Cybersecurity has emerged as a critical component of credit management, earning its place as the unofficial sixth ‘C’ in the traditional five Cs of credit (Character, Capacity, Capital, Conditions and Collateral). As businesses increasingly rely on digital platforms for transactions, data storage and communication, the risk of cyber threats has escalated, making it essential for credit professionals to prioritize cybersecurity in their risk assessments. Why it matters: Factoring in the risk cybersecurity poses in credit decisions is no longer a choice but a necessity to safeguard sen…

The credit department aims to maximize safe sales, requiring tough decisions. Denying credit is a last resort but sometimes essential.

Month-end close, also known as financial close, is a protocol to maintain and finalize your company’s financial records for the month. Documentation, team reviews and reconciliation of all financial transactions in that time period are processed, which can be both tedious and time-consuming because of its importance.

While startups often present exciting opportunities for growth and innovation, they also come with significant uncertainties. Unlike established businesses, startups typically lack a proven track record, stable cash flow and robust financial history, making the assessment of their creditworthiness a complicated challenge.

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.