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.
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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...
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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.
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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...
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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 ...
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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 ...
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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.
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During turbulent economic times, it is challenging for businesses to maintain stability. With heightened risk, traditional lending often tightens leading more companies to seek financing from private sources.
Connect with us on LinkedIn: @Nacm-National @FCIB Follow us on X: @Nacm_National @FCIB_Global
Tell us what you love about Extra Credit and what topics you want covered!
Tell us what you love about Extra Credit and what topics you want covered!
Automation is changing the way credit managers do business across industries. For construction credit professionals, efficiency and accuracy is vital, and new technology might be able to help make tough credit decisions faster.
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This week, NACM hosted its 129th Credit Congress & Expo in Cleveland, Ohio—and things kicked off strong.
The opening general session featured keynote speaker Brant Menswar, who delivered a powerful message on staying focused and hitting your goals, even when things feel uncertain.
We caught up with a few attendees to hear what their biggest takeaways were...
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Credit professionals are often focused on supporting others—customers, colleagues and businesses—but they can sometimes forget to take time to care for themselves. In today’s shaky economy, many are facing growing challenges, which can lead to stress and a need for self-care.
Connect with us on LinkedIn: @Nacm-National @FCIB Follow us on X: @Nacm_National @F...
Tell us what you love about Extra Credit and what topics you want covered!
Tell us what you love about Extra Credit and what topics you want covered!
When it comes to hiring new credit managers, it can be hard to choose which candidate will be the best fit at your company. From the technical skills on their resume to their professional presence during a job interview, there is a lot to consider when hiring for a role a multi-faceted ...
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It’s no secret that companies across industries are grappling with the ripple effects of shifting supply chains, severe weather events, rising costs and mounting tariffs.
By developing a crisis management plan, credit professionals can shift from a reactive approach to a proactive one, helping to minimize risk and improve decision making.
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By incorporating additional KPIs with DSO, credit managers can provide a clearer view of department performance, enhancing understanding for management and leading to more informed credit decisions.
Connect with us on LinkedIn: @Nacm-National @FCIB Follow us on X: @Nacm_National @FCIB_Global
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🧭 Being a leader is hard but leading during stressful periods where internal or external stressors seem to add pressure to your credit team can be even harder.
🚨Whether your company is undergoing a merger that throws everyone’s day-to-day work through a loop or economic instability brings added stress to everyone’s days, workplace challenges can pop up at ...
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Collecting payment can be a hassle, no matter who you are. There’s nothing more frustrating for B2B credit professionals than collecting payment from customers with outstanding debt. Before thinking of sending a customer to collections—or worse, court—you have the option of sending a demand letter to communicate the severity of the issue and help prompt payme...
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📚Education plays a pivotal role in shaping a professional’s career by providing the foundational knowledge and skills necessary to succeed in a competitive job market. Beyond that, education also fosters personal growth, boosts confidence and builds a strong network that can support career advancement.
🧠By continuously learning, you not only improve your cu...
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💼The last few decades have seen waves of women joining the credit field, breaking into male-dominated offices and paving the way for other women to not only excel in credit positions but climb the ladder into leadership roles.
✨For women’s history month, we decided to highlight the women in the profession who have pushed against the status quo and ...
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Despite its importance, credit managers at times forgo a credit application leaving them vulnerable down the line. Other times credit managers may have to consider alternatives to a credit application when a customer doesn’t agree to one, which could leave greener credit managers on unfamiliar terrain.
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There are moments throughout your career when you might be looking for guidance. Whether you are just getting acquainted at your very first job, you’ve made a career transition or you just need some advice, a mentor can make a world of difference in your confidence at work.
For women in credit management, mentorship has helped to advance them in a field wher...
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Antitrust trials can have significant implications for defendants, industries and the economy. As a credit professional, understanding antitrust laws is paramount for protecting your company’s interests and ensuring regulatory compliance.
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