Tag: Best Practices

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.  

As budgeting season kicks into high gear for many companies, credit managers are finding themselves ready to advocate for their department’s needs. Whether working solely on department budgets, helping to shape company-wide spending plans or anticipating risk, the process can be daunting.

Credit managers frequently dive into new projects, whether that’s implementing new technology or updating a credit policy. Effective project management is key to successfully completing any project, no matter its size.

The recent weather events remind us that natural disasters can have a significant impact on communities and businesses. In late September, Hurricane Helene touched down on northern Florida and caused major flooding in North Carolina and Georgia. It killed more than 230 people and resulted in roughly $225 billion in economic loss. Just last week, Hurricane Milton made landfall in Florida creating at least $160 billion in damage and economic loss.

The debate over whether to combine or separate credit and collections functions is a hot topic in the B2B credit industry. Companies on both sides of the argument offer compelling reasons for their approach.

As a credit manager, you’ve likely grown accustomed to the everyday grind that your work brings: reviewing credit reports, determining credit limits and working with customers. While your day-to-day workload is vital to your company’s success, you may need to take a step back and think, who is going to take over when I leave my position?

“I want to show that I am dedicated to my job and that I have plans to continue developing and growing as a professional in the credit industry,” said Cristal Gonzalez, CBF, credit analyst at Mueller, Inc. (Ballinger, TX).