Extra Credit

Tell us what you love about Extra Credit and what topics you want covered! Credit professionals are wired for change, always adapting to new technologies and innovations. With so many options available, finding the right product or service can be overwhelming.  Those who have a clear strategy and a willingness to learn can more effectively narrow their choices, and the Credit Congress Expo Hall is...

Tell us what you love about Extra Credit and what topics you want covered! Not every customer has a perfect credit score or strong balance sheet, but that doesn’t mean they aren’t worth doing business with. Marginal customers often stand in a gray area: high potential, but higher risk.  The challenge is to identify whether open, unsecured credit can be extended to a marginal customer or whether ot...

Tell us what you love about Extra Credit and what topics you want covered! As day-to-day communication shifts to largely online, it is critical that credit professionals make the most of every conversation, whether it is in-person or virtual. From facial expressions to tone to body language, there is a lot to keep in mind in conversation to ensure that you are not only making your point clearly bu...

Tell us what you love about Extra Credit and what topics you want covered! From education to networking to vendor-shopping, Credit Congress is a one-of-a-kind experience for credit managers that stays with attendees even after the convention doors close.  As we prepare for next year’s Credit Congress in St. Louis, many credit professionals are weighing the benefits of attending Credit Congress nex...

Tell us what you love about Extra Credit and what topics you want covered! As a leader, it can be easy to focus on your own perspective. After all, you’re ultimately responsible for making key decisions. However, leadership isn’t just about giving orders; it’s about guiding your team and ensuring their needs are met.   Leading selflessly, with love and compassion not only fosters trust but also st...

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 reduc...

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 sk...

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 fr...

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 an...

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...

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 col...

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 com...

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,...

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 lear...

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 cred...

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 uncertain...

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.   Whe...

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 a...

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...

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 signific...

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.  Con...

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 b...

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...

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, s...

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 miti...