Tag: Best Practices

In business-to-business (B2B) credit management, the sheer volume of data—from financials and payment histories to market trends—can overwhelm teams. Data automation and Robotic Process Automation (RPA) can transform these tasks, rapidly processing and analyzing critical information. By cutting down manual work, these tools enable faster, more accurate credit decisions while minimizing risk, making credit management smarter and more efficient. 

Earning a professional certification can be a transformative milestone in a credit professional’s career, opening doors to career growth and advancement. In recent years, hiring managers have increasingly valued certifications over traditional four-year college degrees. NACM and FCIB’s six-level Professional Certification Program helps both new and experienced credit professionals gain the practical knowledge and skillset needed to stand out and thrive in the B2B credit industry. 

Being a leader is hard but leading during stressful periods where internal or external stressors seem to add pressure to your credit team can be even harder. Whether your company is undergoing a merger that throws everyone’s day-to-day work through a loop or economic instability brings added stress to everyone’s days, workplace challenges can pop up at any moment. But what can leaders do to ease tensions and calm their credit teams?

Economic uncertainty complicates the work of credit managers. As the changing tides of the economy become unpredictable, risk increases. Credit managers across industries have seen volatility in pricing, as wide-reaching economic uncertainties like tariffs, trade wars and supply chain issues send ripples across the economy. While price fluctuations are somewhat of a constant in the ever-changing world of business credit, it can still be difficult to predict and even harder to navigate.  

In the construction industry, getting paid can often be a waiting game. Any disruption in the payment flow—from the general contractor to the material supplier—may lead to significant delays in both payment and the overall project timeline.

NACM and FCIB’s six-level Professional Certification Program has proven to transform careers for credit professionals. Each designation unequivocally expands the knowledge base and skill set in various aspects of business credit. In addition to gaining credibility in their role, each designee walks away with valuable insights and experiences of personal growth. 

Designations earned through NACM and FCIB’s six-level Professional Certification Program transform credit professionals of any level to outstanding leaders in their field.  

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.