Tag: Credit Management

In B2B credit management, where numbers often speak louder than words, it’s easy to overlook the human element behind the figures. However, credit managers are not calculators; they are visionaries, strategists and above all, individuals with voices longing to be heard. Whether they’re negotiating credit terms with customers or collaborating with internal teams, credit managers want to matter. They want a seat at the table, not just as silent observers, but as valued contributors whose opinions shape decisions and outcomes.

Competition creates significant consumer benefits, including increased innovation, efficiency, variety, quality and lower prices. Antitrust laws, which prevent companies from unfairly dominating markets or stifling competition, ensure that customers have options. Why it matters: Understanding and complying with antitrust laws is essential in the credit industry to preserve competition, prevent violations that could lead to severe penalties including fines and imprisonment, and maintain a company’s reputation and future business opportunities.

Credit managers are the link between customers and many other business functions such as marketing, sales, logistics, customer service, accounts payable and treasury. The responsibilities of a credit manager often overlap with the traditional roles in other departments. Why it matters: Understanding the interconnectedness of the credit department with other business functions is critical for effective collaboration and ensuring a smooth flow of operations.

In response to global conflicts, the U.S. and its allies have increased economic sanctions and enforcement measures against various countries. Businesses can minimize their exposure to these changes by regularly monitoring sanction updates, understanding applicable laws, integrating sanctions compliance into regulatory processes and strengthening Know-Your-Customer (KYC) policies. Why it matters: The noticeable surge in, attention to and enforcement of international trade requirements and regulations underscore the need for credit managers to stay vigilant and be aware of potential …

Adhering to a corporate credit policy is essential to managing and assessing credit risk, setting payment terms and ensuring a healthy cash flow. Having a policy in place to follow establishes the guidelines to maintain financial stability and build trust with customers while minimizing the potential for bad debt. Although a credit policy is one of the most important documents in credit management, many credit departments do not have a credit policy set in place. Establishing a sound credit policy empowers the credit department to not only be an asset to the company but also play a key role…

The causes of late payments are diverse and can negatively impact stakeholders across various industries—everything from supply chain delays, cash flow issues and invoicing errors. Credit managers must use proactive strategies to encourage timely payments from habitual and sporadic late payers.

Conflict is unavoidable. It can arise at any moment in your personal life and professional settings, whether between peers or even within yourself. But what do you do when conflict crosses over the line of leadership?

Total bankruptcy filings increased 18% year-over-year in 2023—likely due to high interest rates, maturing business loans and inflation. Chapter 11 bankruptcies increased 72% year-over-year and Subchapter V filings rose 45%, according to a report from Epiq. “While representing a substantial year-over-year increase, total bankruptcy filings remain lower than the pre-pandemic total of 757,816 recorded in CY2019,” the report reads.