Tag: Best Practices

🎙️On today’s episode of Extra Credit, climate change is increasing the frequency and intensity of severe weather events and natural disasters around the world. 

The credit department aims to maximize safe sales, requiring tough decisions. Denying credit is a last resort but sometimes essential.

Month-end close, also known as financial close, is a protocol to maintain and finalize your company’s financial records for the month. Documentation, team reviews and reconciliation of all financial transactions in that time period are processed, which can be both tedious and time-consuming because of its importance.

Great leaders can create impactful change, build sustainable relationships and leave a legacy of culture. But what happens when they leave?

While startups often present exciting opportunities for growth and innovation, they also come with significant uncertainties. Unlike established businesses, startups typically lack a proven track record, stable cash flow and robust financial history, making the assessment of their creditworthiness a complicated challenge.

Automation and technological advancements have gained a significant presence in everyday credit processes—whether to provide easier ways to receive payments, communication with customers or overall efficiency. However, technological innovations always come with risk.

Climate change is increasing the frequency and intensity of severe weather events and natural disasters around the world. As of July 9th, the United States has experienced 15 weather and climate disasters in 2024 that have each caused more than $1 billion in losses.

As a new credit manager, understanding antitrust laws is key for safeguarding your company’s interests and ensuring compliance.

Late payments can be a headache for even the most successful businesses in any industry—putting cash flow, customer relationships and business costs at risk. While most companies use late fees or other penalties to encourage their customers to timely pay, early payment discounts can also be a successful strategy to ensure timely (or early) payments.