Challenges Facing the Construction Industry in 2023

πŸŽ™ Start your day with the latest episode of the Extra Credit #podcast!⭐ This week we talked with Chris Ring; Jerry Drake, CCE; and Isaac Kotila, credit support manager at Insulation Distributors, Inc. about the challenges expected to face the construction industry in 2023! 
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Journal Entry #2: Learning from Around the World

 As I enter my third week of the International Credit & Risk Management (ICRM) online course, I'm learning more about the nitty and gritty aspects of international trade. One of the newest topics I'm learning about is financial analysis, which is a challenging subject but necessary for successful credit management. It truly ...
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Listen: Get Your Credit Team Noticed by the C-Suite

It often feels like there is this invisible barrier between the credit department and the C-Suite, but it does not have to be that way. By establishing a strategic leadership culture, you will create a place where people want to work for you and where upper management recognizes your hard work. But leadership should not be confused with management ...
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Credit Professionals Have Big Plans for 2023

β˜€ Start your Friday with the freshest episode of our Extra Credit podcast! This one is all about New Year's resolutions in the credit profession.πŸŽ™ Hear from Natalie Pearson and Alicia Perez Johnson!πŸ† Also in this episode ... hear the winning Elevator Speech entry from Alicia Perez Johnson! 
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US Economy Ends 2022 on Mixed Note

The U.S. economy grew faster than initially thought in Q3 at 3.2% year over year, up from the 2.9% estimateβ€”sparking fears that the Fed could raise interest rates more than expected in 2023. However, "The final GDP report is one of most backward-looking readings the government releases, looking at the state of the economy nearly three months a...
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Creditors Beware of Subchapter V: Podcast

πŸŽ™ On today's episode of the Extra Credit #podcast, we take a look at how Subchapter V bankruptcy filings dilute a creditor's rights.πŸ“£ Hear advice from the experts, Jason Torf and Lynnette Warman! 
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Transform into a Strategic Leader

 πŸ₯‡ Credit professionals make dozens if not hundreds of decisions each dayβ€”decisions that play a massive role in the success or downfall of their company. But in order to get recognition from the C-Suite, creditors must adopt a strategic mindset.πŸŽ™ Hear from Nancy Watson-Pistole CCE ICCE and Jason L Mott, CCE about how to start changing upper ma...
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November CMI Falls to New Low as Downward Trend Continues

πŸ“‰ The November NACM Credit Managers' Index fell once again, this time by 1.2 points to a reading of 52.0, its lowest since May 2020 and the lowest non-recession, non-pandemic value recorded.πŸŽ™ Hear from NACM Economist Amy Crews Cutts about her latest recession outlooks. The latest episode for Extra Credit can be found here.
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How Midterm Elections Could Influence Economic Policy

Tuesday's midterm elections come as the U.S. economy sits top of mind for businesses and consumers. The Federal Reserve continues to battle stubborn inflation with aggressive rate hikes, which many economists predict will lead to a recession.Midterm election results will determine whether Democrats or Republicans will have control of the U.S. House...
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Is the Great Resignation Coming to an End?

πŸ’Ό On this week's episode of the Extra Credit podcast ... is the Great Resignation coming to an end as employees become increasingly concerned about job security? πŸš§ Also in this episode ... how a lack of skilled labor in the construction industry can hurt material suppliers.
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PODCAST: CMI Drops to New Low, Prepare for Recession

 πŸ“‰ Latest episode of Extra Credit: The October Credit Managers' Index dropped to 53.2 ... its lowest reading since June 2020.πŸŽ™ "We are not in a good position," said NACM Economist Amy Crews Cutts. Also hear from Jason Torf for some tips on how credit professionals can prepare for an economic downturn.
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Listen: When Should You Write an Account Off as Bad Debt?

πŸŽ™ This week's episode of Extra Credit just dropped! Hear how some credit professionals handle bad debt write-offs ... and a tip about staff retention at the end! 
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Assigning Workload to Collectors: Podcast

β€‹πŸ’Ό Having trouble deciding on the best way to assign workload to collectors? Its not a one size fits all approach.πŸ‘‚ Listen to this week's episode of the Extra Credit #podcast to hear how some credit professionals keep workload balanced so collections stay efficient.
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ACH Payments Are Now More Common Than Paper Checks: Podcast

πŸŽ™ The first Extra Credit podcast episode of October just dropped! This week's episode is all about change in the B2B credit industry.πŸ’Έ ACH has replaced paper checks as the most commonly used payment method in B2B transactions, according to an eNews poll.πŸ”Ž Payment methods are not the only part of B2B credit that has evolved. Credit professionals hav...
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Listen: Here's What Key Recession Indicators Show

⚑ Extra Credit is BACK with a hot new episode! βš‘πŸŽ™ This week we spoke with Amy Crews Cutts about the September Credit Managers' Index results AND what some key recession indicators are currently showing.Check it out! 
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Federal Reserve Expects Unemployment to Rise

​The Federal Reserve ramped up its fight against inflation last week with a 0.75% rate hike and hinted to more interest rate increases in the future. The Central Bank expects a jump in unemployment as a result. "There will very likely be some softening of labor market conditions," Fed Chair Jerome Powell said during a press conf...
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Bounce Back from Workplace Burnout: Podcast

πŸ’Ό Workplace burnout is becoming more common. Listen to the 2️⃣5️⃣th episode of NACM's Extra Credit podcast to learn how to spot the signs of burnout in yourself and your staff. 
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Podcast: Fraud in B2B Credit Management

πŸŽ™ This week's episode of NACM's Extra Credit #podcast is all about fraud. Credit departments have reported an increase in attempts to setup fraudulent accounts, and fraud can even take place during your product's journey to the customer. Learn how to spot fraud before it happens at every step of the order to cash process. 
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3 Trends in B2B Credit: Podcast

 β­ This week's episode of NACM's Extra Credit podcast hits 3️⃣ major trends in the B2B credit world!1. The manufacturing sector is indicating recession conditions, according to the latest CMI report. Hear from Amy Crews Cutts;2. Commercial bankruptcy lawyers discuss the latest trends. Hear from Sharon Beausoleil;3. and how to make an argu...
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Motivate Your Credit Department with Metrics: Podcast

What you do with the findings of metrics is as important as the metrics themselves. Several credit leaders in this week's episode of the Extra Credit podcast choose to use the results as a way to motivate their staff, whether it be with cash or the option the work from home. 
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