Tag: Best Practices

Credit managers like to know what’s coming next. Mitigating risk means following industry trends and economic cycles to see where the future might take your business. But what about the unpredictable?

No matter what you do for a living, nothing compares to your first day on the job. For the first week or two, your enthusiasm and curiosity are at an all-time high. You’re asking yourself all kinds of questions, like: What will I learn today? Who will I meet? What am I going to do? And who am I going to do it with?

Vulnerable to the unpredictable ebbs and flows of the market, it can be challenging for construction contractors to stay in business, and even harder for the creditors supplying them with labor and materials to predict exactly where they are headed.

A staggering $3.5 billion was lost due to imposter scams in 2025, according to the Federal Trade Commission, nearly triple the reported losses seen in 2020. New data shows that imposter scams were reported more than any other form of fraud, representing a third of fraud reports last year.

Collecting on overdue accounts can be time-consuming and stressful for credit teams, especially when they’re dealing with customers who are financially stretched. Uncomfortable as it is, the process is essential for maintaining sustainable cash flow and preserving customer relationships. 

It’s no secret that strong leadership is the key to success, and there’s no better way to build it than by promoting from within. In an effort to remain lean and efficient, credit departments may elevate internal talent into management roles. As organizational promotions have become common, many members find themselves managing former peers while redefining their role and authority.

Imagine you’re a sports coach stepping into a new role at a different school. After just your first week, you quickly realize that some changes need to be made. But as you begin adjusting, the team isn’t responding the way you had hoped—and you find yourself asking, what am I doing wrong?

Companies are constantly in the market for the right supplier, whether they’re expanding services, cutting costs or keeping pace with industry innovation. But when every solution promises to be the most advanced in the room, the sheer volume of choices doesn’t simplify the decision.