Tag: Credit Management

The value of credentials in professions has risen in recent years. Though college degrees used to be the standard of experience needed to get a job—certifications are starting to boom. Being recognized as a certified credit professional shows commitment and dedication to your credit management career.

In today’s climate, being “eco-friendly” may just be an ethical façade. Greenwashing—a term coined in the 1980’s—is the act of claiming environmental credentials for a product or project that are unjustified or untrue. Its purpose is to create an impression among both existing and potential customers that the business carries out environmentally friendly activities, when in reality, it is just a cover up.

During this Mental Health Awareness Month, we are exploring how credit managers can feel happy and fulfilled in their careers. Happiness is not merely a byproduct of success but a powerful catalyst for it. Credit managers must cultivate a positive mindset to find the true purpose of their role.

Credit professionals must consistently learn to advance their careers, whether through on-the-job training and experience or formal education, supported by their company’s assistance. By earning designations through NACM’s Professional Certification Program, credit professionals can learn and enhance their skillset in various aspects of B2B credit.

NACM’s Professional Certification Program is geared toward all credit professionals—no matter where they are in their career. Whether just learning the ropes or a seasoned credit manager, refreshing your mind is always an option.

In the B2B credit industry, continuous learning is essential. Credit professionals must master a wide range of topics, from financial analysis to customer service. Designations through NACM’s Professional Certification Program, offer a pathway to gaining the major skills and knowledge needed for this dynamic profession.

Staying ahead often means embracing innovative tools and technologies. One such tool gaining traction is ChatGPT, an advanced language model that can assist credit managers in various aspects of their work.

Timeliness is essential in the credit management profession, as delayed actions can result in missed sales opportunities, financial losses and strained customer relationships.

More credit managers are improving cash flow forecasting, a technique for estimating a business’s future cash movements. However, this wouldn’t be possible without collections forecasting.