eNews Archive

In an era where digital transactions reign supreme, customer payment portals have emerged as a convenient and efficient way for businesses to manage receivables and streamline payment processes. However, while the benefits of customer payment portals are undeniable, their implementation and maintenance come with their own set of costs and considerations for credit departments. Why it matters: Customer payment portals are here to stay, so credit departments must create a strategy to best approach each portal. Some credit managers approach payment portals by assigning one credit mana…

As the volume of accessible data grows, it may be time to rethink approaches to customer research. Gone are the days of relying solely on traditional data sources to paint a financial picture of customers. Why it matters: Social media can enrich research efforts and add depth to your understanding of customers, helping you make more informed decisions. Each social media platform has its own personality. From the casual banter of X (formerly Twitter) to the polished professionalism of LinkedIn, understanding the nuances of each platform is essential for effectively navigating the sea o…

Spearheading daily challenges and taking on the unexpected is expected. But let’s face it—no leader can do everything by themselves. Why it matters: Delegation is one of the most essential skills of management. It not only takes some of the workload off the shoulders of a leader, but it gives your team the opportunity to grow and learn in the process. A delegation of authority is a document that identifies the most effective model of distributing responsibilities and power to those involved in certain decisions. The best example is how those at the entry level handle more routine resp…

In today’s climate, being “eco-friendly” may just be an ethical façade. Greenwashing—a term coined in the 1980’s—is the act of claiming environmental credentials for a product or project that are unjustified or untrue. Its purpose is to create an impression among both existing and potential customers that the business carries out environmentally friendly activities, when in reality, it is just a cover up. This article aims to unearth the hidden truth of greenwashing and explain how its repercussions are headed for the construction industry. Nearly 500 randomly selected websites make arou…

During this Mental Health Awareness Month, we are exploring how credit managers can feel happy and fulfilled in their careers. Happiness is not merely a byproduct of success but a powerful catalyst for it. Credit managers must cultivate a positive mindset to find the true purpose of their role. Why it matters: The key is to leverage practical strategies to infuse joy and fulfillment into every aspect of being a credit manager. By the numbers: According to a Zipdo report, approximately 53% of Americans are currently unhappy at work while 85% of people are dissatisfied with their jobs w…

The March consumer price index (CPI) showed a 3.5% increase compared to March 2023—while the probability of a June rate cut has quickly plunged from 56% to 17%. Though March’s inflation reading was significantly down from the pandemic-era peak in 2022 (the highest level since 1981), it remains above the Fed’s overall target of 2%. Why it matters: Credit professionals should closely monitor these inflation trends to anticipate potential impacts on their credit portfolios and adjust risk management strategies accordingly. A February Consumer Food Insights Report showed U.S. consumers pr…

For much of the last year, advocates in DC have acknowledged that a comprehensive Farm Bill reauthorization, which includes a wide array of programs such as crop insurance, farm subsidies, forestry, rural housing and infrastructure, and nutrition programs like SNAP (formerly known as food stamps), was highly unlikely to pass in this cycle’s deeply divided Congress, especially given the narrow majority held by Republicans in the House. But that hasn’t stopped Democrats in the Senate and Republicans in the House from working on their wish list. Last week, both the House and the Senate release…

NACM’s April Credit Managers’ Index (CMI) fell back to where it started in 2024 with a 3.1-point drop. Why it matters: Now sitting at 51.8, the Survey erased the major gains made in February and March. “After two months of improvement, the CMI has fallen back to near where it started the year, in expansion but weakly so,” said NACM Economist Amy Crews Cutts, Ph.D., CBE.