Journal Entry #3: The Beauty of Virtual Learning

I am going on my fourth week of the International Credit & Risk Management (ICRM) online course and I am slightly behind. Not only was I struggling with some aspects of the discussion posts but I also had a six-day family vacation in Puerto Rico. Luckily the instructor was very understanding and let me enjoy my trip while helping me with my que...
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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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Challenges Facing the Construction Industry in 2023

🎙 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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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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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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Journal Entry #1: Navigating International Trade Credit

I've just completed my second week of FCIB's International Credit & Risk Management (ICRM) online course and it's been nothing short of a very pleasant experience. Although I've only brushed the surface of international trade credit, I've already learned so much.In the two modules I've completed so far, I've learned about the basics of how inte...
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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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Economic Growth Remains Strong but Subject to Change

​Economic data shows that U.S. economic growth remained steady in the last quarter of 2022. In December, payrolls rose by $223,000 while the unemployment rate fell to 3.5% and average hourly earnings eased by 0.3%, per Wells Fargo. Job openings fell to 10.46 million in November. Not only that, "ISM manufacturing fell to 48.4 in December, while the ...
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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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Credit Professionals Have Big Plans for 2023

☀ 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.🎙 Hear from Natalie Pearson and Alicia Perez Johnson!🏆 Also in this episode ... hear the winning Elevator Speech entry from Alicia Perez Johnson! 
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Labor Market Remains Tight, But Not for Long

Despite the Fed's aggressive interest rate hikes and stubborn inflation, the labor market remains tight. The unemployment rate is sitting at a historical low of 3.7% and average hourly earnings rose 5% year-over-year, "well above a pace that would be consistent with the Federal Reserve's 2% inflation goal," reads an article from Bloomberg.However, ...
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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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NACM's CMI Forecasts Trouble Ahead in 2023

🎙At the start of 2022, economic activity was bursting at the seams as businesses recovered from the depths of the pandemic. But roughly one year later, NACM's Credit Managers' Index is painting a very different picture of the U.S. economy … and credit professionals sense trouble ahead.Hear from Amy Crews Cutts in today's episode of Extra Credit #po...
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Construction Outlook Remains Positive for 2023 Despite Challenges

Like all other industries, construction has grappled with the ongoing effects of the COVID-19 pandemic, inflation and supply chain issues. "As many industries brace for an economic downturn heading into the new year, the construction industry is tasked with managing increased lead times and increasing costs from material prices to labor, while also...
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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% estimate—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

🎙 On today's episode of the Extra Credit #podcast, we take a look at how Subchapter V bankruptcy filings dilute a creditor's rights.📣 Hear advice from the experts, Jason Torf and Lynnette Warman! 
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Political Risk Increases in Egypt Despite IMF Financial Support

The new International Monetary Fund (IMF) executive board approved a 46-month, $3 billion financial support package for Egypt, saying it "will catalyze additional funding of about $14 billion," per Reuters. This financial arrangement, Extended Fund Facility (EFF), aims to reduce government debt to less than 80% of gross domestic product (GDP) in th...
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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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