Tag: Survey

Israel’s almost $500 billion economy—the most developed in the Middle East—was healthy for most of 2023. Then on Oct. 7, Hamas launched an attack on Israel that quickly became the deadliest of the five wars fought between the sides since Hamas seized control of the Gaza Strip in 2007. It’s been more than one month since that attack and the economic implications are beginning to surface. Customers in Israel are paying on average 41 days beyond terms according to FCIB’s October Credit & Collections Survey. Nearly three in every four credit managers say payment delays are increasing due to the…

The holiday season is one of the most anticipated sales periods for businesses every year—and holiday spending surged to record levels over the last three years amid pandemic-era stimulus money. Despite inflationary pressures and high interest rates, spending is expected to grow between 3% and 4% to roughly $966.6 billion. Although this is a slower growth rate than the past three years, it is consistent with the average annual holiday increase of 3.6% from 2010 to 2019, according to the National Retail Federation (NRF).

NACM’s Credit Managers’ Index (CMI) fell 1.4 points to 51.2 in October. The CMI remains just barely in expansion territory above 50 and its lowest levels seen outside of a recession, said NACM Economist Amy Crews Cutts, Ph.D., CBE.

Many credit professionals spend a lot of time trying to resolve customer disputes, and disputes tend to become more common during times of economic volatility as a way for customers to stretch payment terms. Disputes end in the customer’s favor more than 75% of the time for one in every four credit professionals, according to an eNews poll. One in every five credit professionals say more than 5% of their past dues are tied up in disputes. The disputes factor in NACM’s Credit Managers’ Index fell 2.5 points to 47.3 in September, its lowest level since April of 2009.

Credit managers have a special skill that no other professional has—the ability to predict the future. But it’s not based on magic.

NACM’s Credit Managers’ Index (CMI) gained 1.8 points to 52.6 in September. The improvement is welcome, but the CMI appears stuck on the precipice of a recession in business activity, said NACM Economist Amy Crews Cutts, Ph.D., CBE.

Fraudulent credit applications are on the rise—a concerning trend in the B2B credit world. A recent eNews poll revealed that 44% of credit professionals have seen an increase in fraud attempts from new customers filling out credit applications.

In an ever-evolving global marketplace, outsourcing has emerged as a strategic tool that businesses of all sizes leverage to enhance efficiency, reduce costs and remain competitive. Credit departments may choose to outsource certain credit tasks on a permanent or temporary basis depending on the needs of the company.

Deciding whether to separate or combine credit and collection functions requires careful evaluation. A recent eNews poll revealed that 34% of departments separate credit and collection functions while 66% mix the two.