Tag: Best Practices

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. 

The American Industrial Revolution, spanning the late 18th and 19th centuries, marked a shift from manual labor to industrialization, leading to the rise of big businesses and the formation of monopolies. This era also gave birth to antitrust laws aimed at preventing businesses from gaining too much power.

“The CBA demonstrates my commitment to professional development and continuous learning within the credit industry,” she said. “I hope that it will open doors for career advancement and provide me with the tools to excel in a credit management role.”

With sophisticated fraud schemes evolving rapidly, credit professionals must proactively identify and mitigate these risks before they impact their organizations.  

With automation, artificial intelligence (AI) and ever-advancing technology dominating conversations in the business-to-business credit field, it is easy to forget the importance of soft skills, especially for new credit managers eager to ride the tech wave as they continuously enhance their technical skills.

When it comes to mitigating risk and protecting a business from potential losses, the success of any credit department hinges on the credit investigation. That first look into a customer to assess creditworthiness, and determine the appropriate terms of sale, is a crucial stage in your relationship with that customer.

The B2B credit industry is constantly evolving, driven by new policies, technology and vendor offerings. However, the sheer volume of information and change can be overwhelming, even for the most seasoned credit professionals.

Charity Wyatt, CBA, credit specialist at Steel Dynamics, Inc., Roanoke Bar Division (Roanoke, VA), said that earning the Credit Business Associate (CBA) certification was a crucial first step toward her goal of achieving the Certified Credit Executive (CCE) designation. “The CBA certification will not only enhance my resume but also provide a solid foundation in credit principles, which is particularly valuable as I am relatively new to the credit field,” Wyatt said. 

By focusing on and refining soft skills, credit professionals can enhance performance, relationships and communication in credit management.