Tag: Best Practices

On today’s episode of Extra Credit…Most credit tasks, such as reviewing accounts, managing collections, customer research and handling disputes, are inherently time-consuming due to their complexity and the need for attention to detail.

Retirement is one of the most significant decisions in a professional’s life, and for credit managers, it comes with its own set of unique challenges. The transition from an active career to retirement requires careful planning and thoughtful consideration of numerous factors—from financial stability to passing the torch to the next generation of leadership.

Among the core responsibilities of a credit professional is the credit approval process, enabling a business to assess a customer’s creditworthiness, minimize the risk of bad debt and make informed decisions about extending credit. For larger credit requests or riskier customers, the decision may need to be reviewed by senior management or a credit committee to ensure alignment with the company’s risk tolerance.

Nicole Anderson, CBA, credit account specialist II at Apogee (Owatonna, MN), earned her Credit Business Associate (CBA) designation due to her passion for learning. “I knew the CBA would help me improve in my role as a collector,” she said. “It shows I’m willing to invest the time and effort to become a better, more valuable employee.”

On today’s episode of Extra Credit…From handling customer disputes to managing cases of bankruptcy, credit professionals are often faced with high-stress situations. However, prolonged stress can lead to burnout, particularly during the year-end when workloads intensify.

For a B2B credit manager, the news that a customer has filed for bankruptcy can feel like a gut punch—especially the first time it happens. It’s a painful and unavoidable reminder of the unpredictability of business and the risks that come with extending credit.

Whether you’re new to the profession or changing careers, education is vital for success in credit management. With NACM’s six-level Professional Certification Program, credit professionals of all levels can broaden their knowledge and sharpen their skill set to progress in the B2B credit field. 

Over the past 25 years, businesses have increasingly moved from paper-based invoicing to digital and automated invoicing systems. The shift suggests that the invoicing process will eventually be completely paperless.

Having spent just two years in the credit field, Melinda Parrish, CBA, credit manager at Archer Daniels Midland Company (Decatur, IL), earned her Credit Business Associate (CBA) to increase her knowledge in the credit world. “I figured if I was going to take classes, I might as well be working towards a certification at the same time,” she said.