Lessons on Letters of Credit

I'm back again with insights on FCIB's International Credit & Risk Management (ICRM) course. I just wrapped up module 7 on global payment mechanisms and started module 8 on letters of credit, guarantees and bonds.I learned that letters of credit (LCs) are one of the most versatile and secure payment instruments to use in international sales. Th...
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Fed Rate Hikes: When to Expect Results

Part of the Federal Reserve's responsibility is to keep the economy in good standing—prices that are not too high (boom) and not too low (bust). One tool the Fed has available to keep inflation in check is interest rates, but inflation today is more difficult for the Fed to control with interest rate hikes because there are other factors at play. S...
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Near-Term Recession Threat Diminished

On this week's episode of Extra Credit...🚨 Don't sound the recession alarm quite yet!🎙 A recession likely won't occur until later than originally expected, said NACM Economist Amy Crews Cutts.That's what the latest CMI report is saying! 
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Accepting Global Payments

I have just started the seventh module of the International Credit & Risk Management (ICRM) course, which focuses on the fundamentals of global payment mechanisms. And boy, there are so many factors to consider accepting international payments!Not only am I learning about various payment methods used in international payments, but ele...
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Threat of Recession is Diminished

​Economists now expect a U.S. recession to occur later this year than previously forecasted after several reports point to signs of economic resiliency. "We have a hard time believing the economy is in recession today, given a strong labor market and corporate earnings growth," Tim Holland, chief investment officer at Orion Advisor Solutions told F...
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Chapter 11 Bankruptcies Are Up 70% Annually

💰 Chapter 11 bankruptcy filings increased 70% year-over-year and Subchapter V filings are up 49%. With post-pandemic era financial aid no longer available, its time to leverage every possible risk mitigation tool both before and after a bankruptcy filing.🎙We've brought in some of the best experts for this week's episode of NACM's #ExtraCredit podca...
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Diving into Global Currency

As I enter my sixth week of the International Credit & Risk Management (ICRM) course, I'm gaining a deeper understanding about international trade credit, specifically the innerworkings of currency. Module 6 in particular, focuses on banking and currency terms and concepts. This is possibly the most anticipated module for me because it delves d...
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Unemployment Falls but Recession Fears Remain

Economists predict a slowdown in U.S. labor market activity this year with the continued battle of inflation and a looming recession. The current unemployment rate fell slightly lower to 3.4% in January, per the Bureau of Labor Statistics—and despite recession fears, the unemployment rate has remained historically low between 3.5 to 3.7% since Marc...
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Get Promoted Without Leaving Your Company

🎯 Hardworking employees naturally seek promotions and raises as a reward for their contributions. But sometimes it can be challenging to make large career jumps at the same organization.🎤 Hear tips from Eve Sahnow, CCE; JoAnn Malz; and Jason L. Mott, CCE on today's episode of NACM's Extra Credit podcast! 
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My First ICRM Review Session

​I'm officially finished with the fifth module of International Credit & Risk Management (ICRM) course! In this module, I learned about establishing credit lines and payment terms. I used information I learned from the previous modules to formulate my answers for the discussion posts. I received support from ICRM Instructor, Val Venable, C...
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Recession Fears Remain Despite Cooled Inflation

The Federal Reserve's aggressive interest rate hikes seem to have helped cool inflation, but many businesses still feel the strain of high prices—and some economists believe a recession is the only way to bring inflation down to the 2% goal.The Consumer Price Index (CPI) measured at 6.4% year-over-year in January, a slowdown from the 7.1% in Novemb...
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Most Credit Departments Still Rely on Paper Credit Applications

🎤 The latest episode of NACM's #ExtraCredit podcast is available now! Click HERE to listen. Like many industries these past few years, B2B credit has needed to adjust to a new digital reality. Most credit departments have adopted more technology and automation than ever before, except when it comes to digital credit applications. According to ...
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An ICRM Student’s Balancing Act

​As I continue my journey through the International Credit & Risk Management (ICRM) course, I'm gaining more knowledge about international trade. I'm currently working through the fourth module on risk mitigation. I'm looking forward to starting module five later this week on establishing credit lines in payment terms with the hopes of getting ...
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Looking Forward to Learning More

I finished NACM's Business Credit Principles course last week and received the certificate! As I submitted my very last quiz, I felt a great sense of accomplishment. The same feeling I'd get when I would run through the finish line in a track race—I would take the time to build my stamina and pace, then give it my all at the very end. As someone wh...
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Sales Plummet but Credit Lines Increase, CMI shows

☀ Good morning! Get your day started with today's episode of NACM's #ExtraCredit podcast!👂 Hear from NACM Economist Amy Crews Cutts as she talks about the January CMI report ... and why she is concerned to see sales drop as credit lines increase--a sign that inflation is taking its toll on businesses.
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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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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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