eNews Archive

De-escalating customer conflicts is a routine part of the job for trade credit managers. Why it matters: Understanding and effectively managing customer conflict is vital because it directly influences a business’s financial well-being, reputation, and overall trajectory. To address this challenge, we have compiled a list of proven strategies that credit professionals employ to effectively manage and de-escalate even the most difficult customer scenarios. #1 Say less, listen more By listening to your customer, you promote expression and understanding, speeding up the journey to …

AI is a rapidly evolving technology that has the potential to greatly benefit various industries and professionals. However, this article aims to clarify several common misconceptions about the use of AI in B2B credit and related industries. #1 “AI will replace my job.” This misconception stems from the widespread fear that AI will replace human jobs, rendering many roles obsolete and leading to significant unemployment. However, this is not the case, as history has shown that innovation such as the move from desktop solutions to client servers or the introduction of Business Process Au…

Inflation levels remain above the Federal Reserve’s target rate of 2%. The latest figures show U.S. inflation sitting at 3.36%, but business and consumer sentiment would suggest that prices are much higher. After falling for much of last year, inflation accelerated again at the start of 2024, reducing the likelihood of early rate cuts. The Fed’s next interest-rate meeting is set for June 11, and the overwhelming consensus of economists is that there will be no rate cuts from the current level of 5.25% to 5.5%. Why it matters: Interest rates determine the cost of borrowing and the abil…

NACM’s Credit Managers’ Index (CMI) improved 2.6 points to 54.4 in May, regaining ground from last month. Why it matters: The CMI has showed no clear trend of improvement or decline in the last two years since the world emerged from the pandemic, but business outlook remains pessimistic.

Credit professionals in the B2B industry have a wide range of responsibilities in their role. Whether you are a credit analyst, credit manager, risk analyst, or any synonymous title to those listed—there are a few aspects that all professionals in credit have in common: assessing creditworthiness, mitigating risk and optimizing company sales.

Credit holds temporarily suspend or reduce credit limits for customers who miss payments or exceed their credit limit. Why it matters: Although often used as a last resort, implementing credit holds is necessary as it aids in mitigating risk, ensuring financial stability and maintaining positive customer relationships.

Outsourcing is a common business practice among companies that use external providers to complete business processes and tasks. Outsourcing became a recognized business strategy in the 1990s as companies shifted the responsibility of some in-house processes to outside firms. Some companies use a shared services model, staffed by their employees, where like business functions are consolidated into a single unit that operates as its own entity to deliver services to the entire organization.

Job satisfaction is the key driver of positive results. If an employee likes their job and all it has to offer them, they will stay loyal to the company. But job satisfaction can be broken down into many layers—and what one employee puts at the top of their list could be completely opposite of their colleague. Why it matters: This remains true for B2B credit professionals. Several factors can go into what promotes job satisfaction, both personally and professionally. By the numbers: A recent NACM eNews poll revealed 30% of credit professionals say work-life balance is the highest comp…