Tag: B2B

In recent years, credit cards have surged in popularity among customers within the B2B credit industry. Why it matters: Knowing why this trend is happening is critical for B2B trade creditors as it holds the potential to alter financial strategies and influence business operations.

In the B2B credit industry, continuous learning is essential. Credit professionals must master a wide range of topics, from financial analysis to customer service. Designations through NACM’s Professional Certification Program, offer a pathway to gaining the major skills and knowledge needed for this dynamic profession.

Staying ahead often means embracing innovative tools and technologies. One such tool gaining traction is ChatGPT, an advanced language model that can assist credit managers in various aspects of their work.

Collecting important project information for payment documents, like preliminary notices or lien waivers, can pose a widespread challenge across the construction industry—and it can become frustrating when you realize essential project details are left behind when completing documentation.

B2B trade credit professionals are not confined to any one set of responsibilities or one single role. It’s a profession that branches out into multiple areas of work. Even for those who did not start out in the profession at the beginning of their career—credit has opened doors for new opportunities. Through NACM’s Professional Certification Program, credit professionals have the tools they need to explore more about their passion and learn new skills.

Gone are the days of cash and checks, as payment methods have taken a leap into the future. Last year, we surveyed credit professionals on customer payment methods from most to least common. Checks topped the list, closely followed by Automated Clearing House (ACH) payments.

At NACM, we pride ourselves on the professional advancement of our members. By providing them with opportunities to learn, grow and succeed, our members can not only improve but add value to the B2B credit profession—which is why NACM established its’ six-level Professional Certification Program, allowing credit professionals to widen their credit knowledge and skills, significantly improving their performance at the workplace.

Insurance is a form of protection and risk mitigation tool to protect against contingencies or unexpected loss. It serves its purpose in several instances—whether it’s your car, health or even your pet. Most people want to have a cushion to be prepared for unexpected circumstances, so, they pay for the protection. But how exactly does insurance function in the B2B trade credit industry?

Credit scores reflect how likely or unlikely a person is to pay any loaned amount of money back. Three digits, typically between the range of 300 to 850, can decide your fate in a multitude of purchases from vehicles to mortgages or student loans, for example. These scores are used by companies to determine the interest rates and credit limits you should receive.