Journal Entry # 3: Overcoming Failure

I've finally passed the halfway point in my Business Credit Principles journey and let me tell you—it's gotten tougher.Up until this point, I've cruised my way through each section passing with only one quiz attempt, which I take pride in, until I reached the international trade and finance business insurance modules. And then it finally ...
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Journal Entry #2: Challenging Myself to Learn More

As I continue along in my Business Credit Principles journey, the concepts are starting to stick. Each concept directly or indirectly ties into the bigger picture of B2B credit. As I approach the halfway mark of the course, I am diving into the legal side of credit along with the historical context of how and when certain laws were formed.I've noti...
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Journal Entry #1: Grasping the Core Concepts of Credit

​I've been working here at NACM for roughly six months now as an editorial associate. I recently started working my way through the Business Credit Principles course so I could gain a better knowledge of the B2B credit topics I write about. As someone who does not have a background in credit, this course has been a lifesaver.I'm only a few modules ...
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Late Payments Are Rising, When Should You Follow-Up With Customers?

🎙 Today's Extra Credit podcast features a NEW host ... NACM's Kendall Payton! We are so lucky to have her on our Editorial Team!🔥 This is an episode you won't want to miss! Learn about the latest payment trends from Adam Ross, CCE; Matthew Laux; and Martin Smith with Ash Grove Cement Company. 
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European Energy Crisis Expected to Last for 2023

​The energy crisis in Europe is far from over. A recent report from the IEA stated Europe could face a major natural gas shortage of 27 billion cubic meters this year, nearly 7% of the region's annual consumption, according to CNN Business.Despite Russia's cut-off of its energy supply to Europe, the energy crisis has been kept at bay thanks to warm...
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COVID Surge in China Dampens Economic Growth

Despite the potential for growth in 2023, the road to recovery for China's economy won't be a straight path. China lifted many restrictions under its zero-COVID after roughly three years—resulting in a surge of cases across the country. Strict COVID lockdowns dampened economic growth and hurt global supply chains, but now the surge in infections is...
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Bank of Japan Makes Surprise Monetary Policy Change

Japan's unexpected turn on its monetary policy has rattled global markets as the Bank of Japan (BoJ) loosened its 10-year yield curve cap. "The Bank of Japan caught markets off guard by tweaking its yield controls to allow the yield on its 10-year JGB to move 0.5% either side of its 0% target, up from 0.25% previously, in a move aimed at cushioning...
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Mashup: Communication, Payment Portals and Supply Chains

 🎙 On this week's episode of Extra Credit, we have a mashup of three important topics!📣 How best to communicate the urgency of payment to customers with Yazmin Yepez. 💻 Tips for easing the pain of customer payment portals with Kimberly Tatum. 🚢 Why knowledge of the supply chain is no longer optional in B2B credit with Shaun Papperman...
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Inflation is Slowing, But Not Enough for Fed

The Consumer Price Index (CPI) report revealed a 7.1% rise in prices year over year in November, down from 7.7% in October and the 9.1% peak in June, according to the U.S. Bureau of Labor Statistics. This is the fifth straight month prices have declined, but experts are hesitant to start celebrating too soon."Even if inflation is waning, the global...
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November's Strong Job Report is Bad News for the Economy

Despite high interest rates and recession concerns, the hiring market remains strong—with up to 263,000 new jobs added in November and a steady unemployment rate of 3.7%, according to a report from the Bureau of Labor Statistics.The results of the latest job report make the Fed's fight against inflation more challenging. The latest data could force...
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Fed Expected to Continue Rate Hikes, Recession Fears Grow

Even with some easing in recent months, inflation remains well above the Federal Reserve's target range of 2%. The Fed has aggressively raised rates this year and they don't plan to let off the gas any time soon. "Two of the Fed's regional presidents, John Williams and James Bullard, warned on Monday that the inflation threat hasn't faded," reads a...
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A National Rail Strike is Closer than Ever

​The largest rail union, SMART-TD, voted against a tentative agreement on Monday, once again raising the likelihood of a nationwide rail strike. The Brotherhood of Maintenance of Way Employes (BMWED) is set to strike on Dec. 5, but said it would extend the cooling-off period if larger unions voted not to ratify the deal, according to CNBC.Sick time...
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Top Qualities to Look for When Hiring Credit Staff

🎤The latest episode of Extra Credit is ready for listening! Hear about what qualities credit professionals look for in new credit staff.
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Inflation Pressures Ease in the US

Both consumer and wholesale prices eased in October, according to the Bureau of Labor Statistics. The Consumer Price Index slowed to 7.7% year over year, down from 8.2% last month, resulting in Wall Street's largest boost since 2020, per CNN Business. And prices at the wholesale level rose 8% year over year, down from 8.4% in September—the fourth s...
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Customers Use Credit Departments as a Lender in Tight Economy

 🎤 This week's episode of the Extra Credit podcast takes a look at how credit professionals notice their customers conserving cash toward the end of each year.
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US Economy Predicted to Remain Stagnant Despite GDP Growth

The U.S. economy grew significantly in the second half of this year, as Thursday's GDP report showed an increased annualized rate of 2.6% over the last quarter. But economic statistics still point to the possibility of recession due to a slowdown in consumer spending, according to CNN Business.Former Treasury Secretary Larry Summers said the talk o...
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Service Sector Resilient Despite Steady Inflation

Despite talks of a potential recession and inflation's tight hold on the U.S. economy, the services sector remains resilient. Jeffrey Roach, chief economist for LPL Financial, said business activity is at its highest since December 2021, which is an "important breakpoint, as the consumer showed stable demand for services after the headwinds of war,...
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Inflation to Impact Consumer Spending Ahead of Holidays

As the holiday season approaches, gift spending is expected to drop $30 billion—with a 58% consumer cut back, according to Forbes. This is largely due to the fact that inflation is taking a large bite out of consumer wallets—steering spending away from non-essential holiday purchases toward household goods."40% of holiday shoppers say that inflatio...
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Rail Union Rejects Labor Deal, Potential Strike Threat Returns

​Railroads are back to the bargaining table after the U.S.'s third-largest railroad rejected the Biden administration's tentative railway labor agreement Monday. More than 11,000 members of the Brotherhood of Maintenance of Way Employees Division of the Teamsters (BMWED) voted with 56% against the tentative agreement, per NBC News."Railroaders are ...
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eNews Poll: 45% of Credit Departments Report Increased DSO

NACM's recent eNews poll on Days Sales Outstanding (DSO) shows 45% of credit departments have seen an at least 5% increase within the past year. 20% say DSO has decreased and 35% report that DSO levels remained the same.Nathan Hutton, CICP, global credit manager at Donaldson Company, Inc. (Minneapolis, MN) has seen a fairly stable DSO over the past...
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