eNews Archive

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…

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…