Technology Archive

As more credit department functions transition to online platforms, credit professionals may find themselves working with customers to find the best way to transition away from traditional payment methods towards more streamlined online platforms. Why it matters: While the advantages of electronic payments may be clear from a credit manager’s perspective, with more efficient payment methods cutting down on delayed payments, customers accustomed to paying a certain way may require a bit of convincing before making the switch. By the numbers: Only 11% of credit managers have all of thei…

Business-to-business (B2B) credit has come a long way from 30 years ago. Back then, you either had to make a phone call, mail a letter or knock on someone’s door to conduct business. Nowadays, credit professionals can work virtually from anywhere, holding virtual meetings, emailing documents and sending messages instantaneously. Why it matters: As more companies embrace digital methods, more credit professionals are adapting their practices accordingly. However, a recent shift from handwritten signatures to electronic signatures has brought enforceability to the forefront for many credit…

In credit management, your day-to-day work varies. One day you might spend hours determining the best terms for a customer with a rocky credit history while on others you might be settling a mounting pile of disputes. No matter what the day brings you, data is likely playing an important role in how you make those tough credit decisions.   Why it matters: Data is important when working in credit, so it is critical that credit managers are well-versed in how to work efficiently and effectively in Excel. While …

Artificial intelligence has quickly evolved from a buzzword to a daily operational tool. Credit departments across construction, distribution and manufacturing are feeling the shift. Whether teams are interpreting payment behavior, communicating with contractors or supporting sales and operations, AI is helping credit professionals work faster and smarter. But here’s the key insight: AI is only as good as the prompts it’s given. Just like a calculator needs the right formula, AI needs clear, structured input to produce reliable results. That’s why mastering “AI prompting” has become a pr…

Every credit manager knows the all-too-familiar sinking feeling that comes when your office tech is not working. Whether it’s as complicated as your automated collections system malfunctioning or as simple as your laptop not responding, it can be hard to know when and how to ask your IT department for help.  

In a profession as data-reliant as credit management, it can be easy to get lost in a mess of spreadsheets. With so much data to consider with every credit decision, it is vital that credit managers have a dashboard that clearly presents pertinent data not just for them, but for their companies.  

New technology reshapes the business credit profession, as each innovation reframes the work of a credit manager by automating everyday tasks. Unfortunately, just as technology can transform a credit manager’s work, it can give rise to creative ways for fraudsters to take advantage of businesses.  

In business-to-business (B2B) credit management, the sheer volume of data—from financials and payment histories to market trends—can overwhelm teams. Data automation and Robotic Process Automation (RPA) can transform these tasks, rapidly processing and analyzing critical information. By cutting down manual work, these tools enable faster, more accurate credit decisions while minimizing risk, making credit management smarter and more efficient.