Tag: Best Practices

“I remind myself every morning: Nothing I say this day will teach me anything. So, if I’m going to learn, I must do it by listening.” — Larry King, CNN. King emphasizes how much more you can learn by listening rather than speaking. However, that’s easier said than done for most people. In fact, studies show that people typically remember only about 20% of what they hear immediately after listening, with retention dropping significantly over time.

By earning certifications through NACM’s and FCIB’s six-level Professional Certification Programs, credit professionals can gain in-depth knowledge and learn about different strategies to thrive in their field. 

Earning a designation through one of NACM’s and FCIB’s six professional designation programs is not only an opportunity to deepen your knowledge and understanding of the credit field, but a means to boost your career with newfound creditability. 

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.