eNews Archive

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…

Notarization ensures the authenticity and integrity of important documents, preventing potential fraud and forgery. With the advent of electronic notarization (or e-notarization), organizations can now have documents notarized in a more efficient, secure and convenient manner. Why it matters: Understanding and implementing e-notarization can streamline the authentication process for vital construction credit documents, enhancing efficiency and reducing potential delays in project timelines. Notarization is a process that authenticates signatures, ensuring signers are who they say they…

Automation is at its all-time high across industries. B2B credit departments are considering implementing new technology and tools to better service their customers. Whether through ACH payments, online payment portals or the help of AI, credit professionals must know the most effective ways to use automation to their advantage. For example, using automation software to complete the more repetitive or mundane tasks can help save time and allow staff to focus on other areas that need attention. According to a recent eNews poll, 17% of credit professionals are looking for an automation …

Whether it’s about the latest technology or providing a thorough understanding of their terms and conditions, credit professionals are always striving to keep their customers well-informed and educated. Why it matters: Counseling or educating your customers not only shows that you value them, but it enhances trust, business performance and professional reputation.

Private equity (PE) refers to investments made into private companies by partnerships, which buy, manage and sell these companies. These partnerships, known as private equity firms, run these investment funds for institutional and accredited investors. Why it matters: Understanding the role of private equity groups can help predict potential credit risks and inform investment decisions for both institutional and accredited investors. Pros of private equity Access to capital: Private equity groups grant companies access to capital that it may not be able to raise on its own. Sca…