Tag: Best Practices

As technology continuously reshapes the business-to-business credit field, the risk landscape transforms as fraudsters manipulate newer technology to attack businesses. With artificial intelligence becoming more advanced, credit managers are raising their defenses against synthetic fraud as it takes on new forms each day.

Extending credit is, in many ways, a calculated risk. You’re relying on your customer’s ability and willingness to pay on time, if at all. But smart credit professionals don’t move forward without clarity. By analyzing a customer’s financials, they get a clearer view of the hand they’re being dealt to make more informed credit decisions. But what happens if a customer refuses to share financials?

Certain credit practices are grounded in the roots of the profession, unchanging in a dynamic field where change is constant. Documentation is one of these habits, with thorough records of even the simplest day-to-day credit decisions protecting credit departments from risk down the line. 

Picture this: a scout leader perched at a mountaintop, shouting directions through a megaphone. The team reaches the summit quickly, but they’re exhausted, disoriented and less prepared for the next climb.  

For many credit professionals, NACM and FCIB’s Professional Certification Programs help form a bedrock of knowledge that assists them in their day-to-day work. Whether navigating a tricky conversation with a customer or setting firm standards for extending credit, knowledge gleaned from professional certification courses shines through.

Every facet of a credit manager’s day-to-day work relates to risk mitigation, as they work tirelessly to protect their company through each transaction. When you are uncertain about a customer and their ability to pay within terms, it is time to consider new protective measures.

Credit professionals are no strangers to forms, with the continuous exchange of documents between a customer and a seller dubbed the “battle of the forms.” With so many documents, it can be hard to decipher the exact terms, prompting many businesses to employ master service agreements (MSAs).  

For Nancy Burkard, CCE, senior credit manager at TD SYNNEX (Greenville, SC), earning her Certified Credit Executive (CCE) designation was a deliberate career move that helped her take a more active role in risk management.

For credit professionals, NACM and FCIB’s six Professional Certification Programs are tried-and-true paths to professional development. Regardless of whether you’re new to credit or need a refresher, each certification provides the knowledge and skills bringing you closer to your education goals.