eNews Archive

As year-end approaches, credit professionals face a familiar haunting: customers suspending payments and disappearing into the night, causing cash flow challenges just when stability is needed most. From dodging payments to “ghosting” invoices, slow-paying customers can turn the year-end into a horror story for credit teams.

In the realm of credit management, each department operates under its own set of mysterious guidelines and formats for credit applications. While some cling to the familiarity of paper documents, others embrace the digital age with online portals, creating a patchwork of practices that can leave customers confused and frustrated.

The shadows of ineffective leadership loom large, threatening to trap credit leaders in a web of pitfalls that could spell disaster for their teams.

For credit managers working in construction, being proactive when it comes to fraud can be hard. With so many different schemes orchestrated to swindle your company out of materials or money, it can be a real nightmare for credit managers to know what to look out for, especially as fraudsters adapt.

From the steady stream of emails to an overflowing pile of credit applications awaiting your careful review, work can be overwhelming. Even after leaving for the day, it might still weigh heavy on your mind as you anticipate the next day’s workload. 

In the construction world, a mechanic’s lien is a vital legal instrument protecting laborers and suppliers. Without it, contractors and subcontractors lose legal protection, resulting in significant losses. Several factors influence lien rights. However, can other contracts or agreements, such as a non-disclosure agreement, override your right to file a notice or initiate legal proceedings?

As budgeting season kicks into high gear for many companies, credit managers are finding themselves ready to advocate for their department’s needs. Whether working solely on department budgets, helping to shape company-wide spending plans or anticipating risk, the process can be daunting.

Credit managers frequently dive into new projects, whether that’s implementing new technology or updating a credit policy. Effective project management is key to successfully completing any project, no matter its size.