Tag: Best Practices

For most credit managers, a credit application is a vital step in the credit approval process. It’s a document that neatly outlines all the pertinent information that a credit manager needs to know about their customer, from its corporate legal name to the number of years they’ve been in business. No step epitomizes the oft-repeated mantra of credit management, “Know Your Customer,” quite like the credit application.

As a credit professional, a large part of your job involves engaging with customers–whether they’re next door or overseas. However, the task of properly identifying a customer can be challenging when businesses operate under similar names, use DBAs (Doing Business As) or are part of a parent-subsidiary structure.

NACM’s and FCIB’s six-level Professional Certification Programs does its part in shaping the credit professionals’ story, providing them all the knowledge and tools needed to conquer their challenges like a hero uses their superpowers to defeat their enemies.

On today’s episode of Extra Credit…There are moments throughout your career when you might be looking for guidance. Whether you are just getting acquainted at your very first job, you’ve made a career transition or you just need some advice, a mentor can make a world of difference in your confidence at work.  

“I remind myself every morning: Nothing I say this day will teach me anything. So, if I’m going to learn, I must do it by listening.” — Larry King, CNN. King emphasizes how much more you can learn by listening rather than speaking. However, that’s easier said than done for most people. In fact, studies show that people typically remember only about 20% of what they hear immediately after listening, with retention dropping significantly over time.

By earning certifications through NACM’s and FCIB’s six-level Professional Certification Programs, credit professionals can gain in-depth knowledge and learn about different strategies to thrive in their field. 

Earning a designation through one of NACM’s and FCIB’s six professional designation programs is not only an opportunity to deepen your knowledge and understanding of the credit field, but a means to boost your career with newfound creditability. 

Mergers and acquisitions (M&As) can be transformative for businesses, often leading to greater efficiencies, market expansion and cost savings. However, for credit professionals, these transactions can introduce a range of complexities and risks.