As a new credit manager, understanding antitrust laws is key for safeguarding your company's interests and ensuring compliance. These laws are designed to promote fair competition and prevent practices that can harm other businesses.
In this episode of Extra Credit, we start to break down the basics of antitrust laws, explaining what they are, why they matter and how they impact you.
By leveraging modern technology, offering flexible work environments and emphasizing the exciting nature of the credit management profession, businesses can inspire a new wave of professionals to join and thrive in the B2B credit field.
🎙️ Financial resilience has become a top priority for businesses. Credit managers play a pivotal role in this endeavor, leveraging their expertise to ensure stability and sustainability.
✨ Special Guest: Mike Davies, Manager of the Invoice-to-Cash Centre of Excellence at BlackLine, shares how B2B credit managers are leading the way in helping businesses build financial resilience.
📊 The 2024 State of AR Automation Survey is CLOSES TONIGHT! Take the Survey today to amplify your voice and contribute to the future of AR automation.
In our last Extra Credit episode with you back in February, we discussed the importance of bank references in making informed credit decisions. Today we’d like to delve into that topic a bit deeper and discuss how bank references can also help detect and prevent fraudulent activity.
This episode of Extra Credit is powered by Thomson Reuters Confirmation.
Download our joint white paper on Unlocking Financial Trust: The Role of Bank References in Establishing Creditworthiness. Thomson Reuters is a sponsor of NACM's 128th Credit Congress. Stop by booth #429 to speak with their experts!
Job satisfaction is the key driver of positive results. If an employee likes their job and all it has to offer them, they will stay loyal to the company. But job satisfaction can be broken down into many layers—and what one employee puts at the top of their list could be completely opposite of their colleague.
🎙️ In this episode, we dive deep into the vital role credit managers play within their organizations. Discover how making your voices heard can lead to significant improvements and drive success!
✨ Special Guest: Brian Morgan, Senior Director of Strategy for Invoice to Cash at BlackLine, shares strategies you can implement to elevate your role.
📊 The 2024 State of AR Automation Survey is NOW OPEN! Take the Survey today to amplify your voice and contribute to the future of AR automation. Complete the survey by May 31 to receive the full results and stay ahead of industry trends.
📍 Credit Congress Alert! Stop by booth #507 to meet with BlackLine experts. Whether you have questions or just want to chat, the team is excited to connect.
In recent years, credit cards have surged in popularity among customers within the B2B credit industry. In fact, a recent eNews poll revealed that 60% of credit professionals said that the number of customers paying with credit cards has increased in the last 12 months.
Customer payment portals have evolved in the last few decades with the growth of automation—playing a paramount role of processes in the B2B credit world. Portals allow an easier way for customers to make payments, manage financial interactions and submit invoices. However, the integration of automation varies across each portal—and catering to all of those differences across all platforms can possibly be difficult for credit managers.
The list of responsibilities for credit managers is growing exponentially, while resources are dwindling.
Automation not only helps with staffing shortages, but it can attract the new generation of credit managers.
"When we look at the younger workforce, they don't want to work for an organization that they perceive as living in the Stone Age," said Cindy Jacobson, former credit manager and senior solutions consultant at BlackLine. "Employees want to work for a company that is going to support them and provide the necessary tools."
Listen to the full episode to learn more.
Stop by booth #507 at Credit Congress to speak with BlackLine experts.
Collecting important project information for payment documents -- like preliminary notices or lien waivers -- can pose a widespread challenge across the construction industry.
Without sufficient and accurate job information, a company’s ability to secure payment through a mechanic’s lien or bond for their projects may be in jeopardy.
Luckily, construction credit professionals can use a special document with essential project information allowing the ability to preserve their lien rights and get paid.
This document is known as a job information sheet.
If you would like to learn more, visit our website or contact Chris Ring at ChrisR@nacm.org.
Understanding and improving customer onboarding is crucial because it not only influences the company's revenue but also shapes long-term customer relationships. A seamless and comprehensive onboarding process accelerates time-to-value, maximizes product adoption and reduces customer churn, thus leading to many positive outcomes.
Job descriptions are brief written explanations that outline the responsibilities and requirements for a role. Crafting the right job description to help attract the most qualified candidate is an art—and with millions of job listings on different websites, a well-crafted job description will help you stand out.
Providing employees with opportunities for career development is now an absolute essential for businesses to compete and retain skilled talent. It’s already the leading action employers across sectors are taking to address both skill and labor shortages, which means companies that don’t offer opportunities will lose out on top candidates.
In a fast-paced business world, customers are looking to get credit approval quickly. This places the credit department under pressure to make a fast decision while maintaining due-diligence standards.
⭐ Hear from Nuvo experts and learn how to improve your credit application approval process! Hint: It's all about balancing speed and accuracy.
Stop by booth #307 at Credit Congress from June 9 through the 12 to chat with Nuvo experts or attend their Solutions Hub session. Don't miss your chance to interact with AI prototypes that can mitigate fraud risk!
Take two minutes to complete our joint survey on trade credit operations for access to exclusive industry insights!
It's time to celebrate a monumental milestone--the 100th episode of NACM's Extra Credit podcast! 🎙️💯
Whether you've been with us since the beginning or just joined our community recently, we want to express our deepest gratitude for your ongoing support.
Over the past 100 episodes, we've explored a wide range of topics related to B2B credit management, from credit risk and collections strategies to mastering customer relationships and leading teams.
Here's to the next 100 episodes and beyond!
🤖 As credit departments become more modern with new automation platforms and software, credit managers must prepare to handle any challenges that come their way.
🔑 The best way credit teams can ensure the success of any technology transformation is with change management.
💡 Why it matters: It’s about managing change throughout your organization, ensuring everyone on the team is on board and making the most of software that tackles real, everyday pain points.
⭐ Hear from Danny Wheeler, AR Solutions Strategy Manager with BlackLine.
Stop by booth #507 at Credit Congress to speak with BlackLine experts. You can read more about Navigating Change Management in Finance Transformation Projects in the February issue of Business Credit magazine.
BlackLine is a proud Credit Industry Partner of NACM.
More women are taking on leadership roles in traditionally male-dominated professions and B2B credit is no exception. Although B2B credit has progressed significantly in terms of gender equality, women still face challenges due to their gender regardless of their position. During this Women’s History Month, we’re honoring women through their challenges and successes in their journey to becoming influential credit leaders!
Read the full story in the March issue of Business Credit magazine!
The role of credit professionals in modern organizations is multifaceted and challenging, with numerous responsibilities and pressures from various stakeholders. The evolution of technology, from computers to artificial intelligence, has transformed the credit management profession.
Signing a Non-Disclosure Agreement (NDA) has become standard practice for credit managers seeking access to sensitive customer financial information.
By committing to confidentiality, credit managers reassure customers that their data will be handled with the utmost care and discretion.
This proactive step not only fosters trust but also makes customers feel more comfortable and confident in sharing vital financial details knowing their information will be protected.
Learn more on our website.
Credit scores reflect how likely or unlikely a person is to pay any loaned amount of money back and these scores are used by companies to determine interest rates or credit limits you should receive. But credit scoring is not limited to the consumer sector only. In the B2B credit industry, credit managers can also use scores to help gauge how much credit to extend and make credit decisions.
The art of decision-making rests on the foundation of informed choices. Just like detectives, credit managers meticulously gather data from various sources, such as credit reports, financial statements and bank references, piecing together a financial puzzle.
Learn how the hunt for credit information has changed and how to perfect your strategy!
This episode of Extra Credit is powered by Thomson Reuters Confirmation.
Download our joint white paper on Unlocking Financial Trust: The Role of Bank References in Establishing Creditworthiness. Thomson Reuters is a sponsor of NACM's 128th Credit Congress. Stop by booth #429 to speak with their experts!
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.
The credit department plays a role comparable to that of a meticulously crafted recipe in baking. Just as a cake recipe demands precision in ingredient selection, mixing and timing, the credit department orchestrates a series of crucial processes to ensure the financial health and success of a business. Similar to baking, if you don’t include essential ingredients—such as baking soda or the perfect amount of flour—the cake won’t rise. So, how is this reflected in the B2B credit world?
Understanding Antitrust: A Guide for Credit Managers
3:41
Attracting the next generation of credit managers
4:38
How Credit Managers Build Financial Resilience for Businesses
5:00
2024 Credit Congress highlights
3:02
Prevent fraud with bank references
8:04
Top factors driving job satisfaction in credit management
4:35
Amplifying Voices: The Impact of Credit Managers
10:04
The rise of B2B credit card payments
2:52
Payment Portal Tips for Credit Managers
4:03
ChatGPT: Revolutionizing the credit industry
4:01
Bridging the Gap: Automation Solutions for Staff Shortages
12:30
The Power of Job Information Sheets in Infrastructure Projects
3:50
Balancing Speed and Risk in Credit Decisions
4:44
How to Craft an Effective Job Description
4:38
Upskilling in the AI-driven job market
4:36
How to Improve Your Credit Application Approval Process
14:53
🎉 Extra Credit Hits Triple Digits: Celebrating 100 Episodes!
5:05
The Key to Automation: Change Management
7:42
Breaking Barriers: Celebrating Women’s Influence in B2B Credit
5:56
The Evolution of Technology in Credit
5:17
Can NDAs Help Secure Customer Information?
3:38
Credit Scoring in B2B Trade: Explained
4:12
Credit Managers: The Financial Detectives
7:44
Proactive Strategies to Reduce Late Payments
4:03
The Perfect Recipe for a Successful Credit Department
3:59