Tag: Best Practices

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. 

🎙️On today’s episode of Extra Credit…Year-end slowed or delayed payments have become common practice for businesses. Mastering strategies to handle these slow payers will keep cash flowing and risk at bay as you close out the year. Here’s your survival guide to tackling year-end collections so you can ward off any cash flow scares.

A personal guarantee, a legal commitment where an individual pledges to cover the business’s debts if the promise to pay an obligation is broken, has become a significant tool in the credit industry.

Deciding when to write off an account as bad debt is one of the most challenging calls that credit managers face.

As year-end approaches, credit professionals face a familiar haunting: customers suspending payments and disappearing into the night, causing cash flow challenges just when stability is needed most. From dodging payments to “ghosting” invoices, slow-paying customers can turn the year-end into a horror story for credit teams.

Earning one of NACM’s professional designations reflects not only a commitment to mastering the technical skills needed to thrive in the credit industry, but also a dedication to exhibiting best practices in an industry that is ever changing. For Whitney Styer, CCRA, assistant credit manager at Helena Agri-Enterprises, LLC, (Collierville, TN), earning her Credit Business Fellow (CBF) designation helped deepen her understanding of credit.  

NACM’s annual Credit Congress & Exposition is a chance for credit professionals from across the nation to grow their network, stay current on the latest industry trends and connect with others in their field. The various educational sessions and forums provide invaluable knowledge for long-term professional and personal growth.