Extra Credit
Welcome to Extra Credit, a weekly podcast from the National Association of Credit Management. You can expect to hear from different credit professionals each Friday. We’ll help you stay informed about the latest in the B2B credit world.
Episodes
Tell us what you love about Extra Credit and what topics you want covered!
For many credit professionals, burnout does not happen all of a sudden—it creeps in slowly, like a phantom in the shadows. The pressure of the job, from managing high-risk accounts to chasing down mounting receivables, can begin to haunt even the most experienced professionals.
If left unchecked, burnout can lead to reduced productivity, job dissatisfaction ...
Tell us what you love about Extra Credit and what topics you want covered!
Credit managers can sometimes take on too much responsibility—from handling customer disputes to managing collections. A balanced workload significantly improves team performance and efficiency.
By delegating tasks, credit managers can ease their own workload while empowering team members to think independently, develop skills and take initiative—ultimately a...
Tell us what you love about Extra Credit and what topics you want covered!
Lien and bond rights are essential tools for protecting payments in the construction industry. Whether you’re a general contractor (GC), subcontractor or material supplier, these legal rights provide leverage when payments are delayed or withheld. However, these rights and the processes to enforce them vary significantly from state to state.
Tell us what you love about Extra Credit and what topics you want covered!
In business-to-business (B2B) transactions, when customers aren’t satisfied with a product or service, they request a deduction—typically in the form of a short payment on an invoice or credit taken on a check.
Customer deductions typically require approval from the credit department, as they directly affect collections and terms outlined in the contractual a...
Tell us what you love about Extra Credit and what topics you want covered!
Gathering job information for a construction project is an important part of the work of a credit manager. Having pertinent details on the customer, contractors and the project itself help the credit manager understand what to expect when they embark on a project.
While this process is closely tied to the credit manager’s role, the task of collecting the info...
Tell us what you love about Extra Credit and what topics you want covered!
With the role of credit managers expanding each day with new responsibilities, outsourcing tasks within the credit department can be a key part of a risk mitigation strategy.
Collections brings a lot of problems for credit managers, making it one of the first processes many departments decide to outsource. Third-party collections improves cash flow by having...
Tell us what you love about Extra Credit and what topics you want covered!
When most people think of a credit professional, they picture someone focused on collecting payments and monitoring customer balances or credit scores. In reality, the job extends far beyond credit and collections.
The multi-faceted nature of the credit professional makes them an asset to the organization, facilitating communication, improving efficiency and ...
Tell us what you love about Extra Credit and what topics you want covered!
The credit and sales departments both spend their days closely monitoring customers and transactions, albeit from different perspectives, making it easy for each department to recognize the needs of the other.
As the credit team works to mitigate risk by carefully considering the possible ramifications of each transaction, they rely on the sales team to bring...
Tell us what you love about Extra Credit and what topics you want covered!
Join us for this special Industry Insight episode with Shane Norman, CCE, senior account executive with Handle, as he discusses his 20-plus years of credit experience, and shares his perspective, both managing credit risk and now working with hundreds of credit teams nationwide.
Today we're talking about:
- Lessons learned as a credit manager
- The future ...
Tell us what you love about Extra Credit and what topics you want covered!
Join us for this week's episode on the power of proper documentation!
Certain credit practices are grounded in the roots of the profession, unchanging in a dynamic field where change is constant. Documentation is one of these habits, with thorough records of even the simplest day-to-day credit decisions protecting credit departments from risk down the lin...
Tell us what you love about Extra Credit and what topics you want covered!
The nature of credit and collections requires credit managers to always keep an eye out for risk on the horizon, whether it’s concern towards a customer’s persistent cash flow issues or a weariness towards extending credit in a country with growing political instability.
Why it matters: During periods of economic uncertainty, customers may begin acting errati...
Tell us what you love about Extra Credit and what topics you want covered!
Sales and credit are two sides of the same coin, both aiming to grow the business, but from different perspectives. While sales focuses on closing deals, the credit team works to manage risk, ensuring customers are financially reliable and contract terms are sound. These different priorities can often lead to tension.
When the sales team understands the “why...
Tell us what you love about Extra Credit and what topics you want covered!
When a salesperson is pushing for a credit manager to finish their credit investigation and determine a credit line so they can close the sale, it is important that credit managers find a balance between speed and risk. Organizing the workflow within the credit department to accommodate these requests can help ease stress and take some pressure of credit mana...
Tell us what you love about Extra Credit and what topics you want covered!
🕵️♀️ Scene 1: The Case File
Did you hear that? A company’s accounts receivable (AR) suddenly spiked. Collections slowed, and cash reserves dropped. The Chief Financial Officer (CFO) smells trouble. Soon after, you’re brought in to investigate the scene of the crime. You’re left wondering...was it overdue invoices? Was it an ineffective collection? Are they j...
Tell us what you love about Extra Credit and what topics you want covered!
Artificial intelligence (AI) has transformed how the world operates, integrating itself into nearly every facet of business. For credit departments, AI is being used to enhance email communication, draft demand letters, review contracts and even predict collection trends.
Despite its rapid advancement, AI presents significant challenges, particularly regardin...
Tell us what you love about Extra Credit and what topics you want covered!
As a credit manager, you’re no stranger to difficult customers. Whether there is a disagreement over a late payment or a clash over company policies, conflict can pop up anywhere in a credit manager’s day to day work. Mastering emotional intelligence can help credit professionals de-escalate conflict and ease tensions.
Connect with us on LinkedIn: @Nacm-Natio...
Tell us what you love about Extra Credit and what topics you want covered!
This week we are talking about building relationships outside of the credit department!
The last decade has seen tremendous evolutions within the business credit field, with advancing technology transforming the credit management profession. With technology’s growing importance in modern credit processes, the relationship between credit and IT departments is m...
Tell us what you love about Extra Credit and what topics you want covered!
We’re diving into one of the most valuable tools available to global credit managers—the FCIB Credit & Collections Survey.
The monthly survey serves as a global pulse check on real-world credit conditions. It gathers input from credit professionals across key international markets, on things like payment behavior, risk levels, and economic confidence. The ...
Tell us what you love about Extra Credit and what topics you want covered!
The construction industry is a layered ecosystem where giants and startups share the same job site, each with unique risks and rules. In a highly competitive industry, the Disadvantaged Business Enterprise (DBE) Program provides marginalized businesses with a fair opportunity to compete and thrive.
However, rising fraud, such as firms posing as DBEs or using ...
Tell us what you love about Extra Credit and what topics you want covered!
The CMI documents trends in accounts receivables that could help credit professionals anticipate and prepare for changes. By taking the time to complete the CMI each month, credit managers are able to give back to the profession by strengthening an economic indicator that is central to so many credit professionals risk mitigation strategy.
Popular Podcasts
Whether you’re a scaredy-cat or a brave bat, this collection of episodes from iHeartPodcasts will put you in the Halloween spirit. Binge stories, frights, and more that may keep you up at night!
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
On Health Stuff, hosts Dr. Priyanka Wali and comedian Hari Kondabolu tackle all the health questions that keep you up at night with hilarity and humanity. Together they demystify the flashy trends, and keep you informed on the latest research. You can rely on Health Stuff to bring you real, uninhibited, and thoughtful health talk of the highest caliber, and a healthy dose of humor.
The World's Most Dangerous Morning Show, The Breakfast Club, With DJ Envy, Jess Hilarious, And Charlamagne Tha God!