Extra Credit

Tell us what you love about Extra Credit and what topics you want covered! 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.  Connect with us on LinkedIn: @ Nacm-Nati...

Tell us what you love about Extra Credit and what topics you want covered! 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...

Tell us what you love about Extra Credit and what topics you want covered! 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 score...

Tell us what you love about Extra Credit and what topics you want covered! 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...

Tell us what you love about Extra Credit and what topics you want covered! 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. Connect with us on LinkedIn:...

Tell us what you love about Extra Credit and what topics you want covered! 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, i...

Tell us what you love about Extra Credit and what topics you want covered! All credit management responsibilities stem from one essential skill—the ability to form strong relationships. Business relationships have many layers, all of which credit managers must master. In global trade, credit professionals should try to understand the cultural differences of their customers overseas to ensure a suc...

Tell us what you love about Extra Credit and what topics you want covered! NACM’s Credit Congress & Exposition is an annual conference established to bring credit professionals together from across the nation to network and learn about various topics in the credit industry. But with the abundance of educational programs and professional growth opportunities, it can be challenging to know where...

Tell us what you love about Extra Credit and what topics you want covered! In the final Extra Credit episode of 2023, we reflect on the trends of the Credit Managers' Index (CMI). The CMI points to a considerable decline in credit conditions that are leading indicators of economic activity. Complete the CMI every month for the next 12 months and automatically be entered into a drawing to win...

Tell us what you love about Extra Credit and what topics you want covered! Credit management is a risky business. Every credit decision is directly influenced by ever-changing micro- and macro-economic factors. To better mitigate risk, credit professionals must be proactive in their credit limit assessments for new and existing customers.  Connect with us on LinkedIn: @ Nacm-National @ FCIB

Tell us what you love about Extra Credit and what topics you want covered! Joining NACM is not merely a membership; it's an investment in a network that propels your career forward and surrounds you with a community that shares in your successes and supports you in times of professional challenges.  Connect with us on LinkedIn: @ Nacm-National @ FCIB

Tell us what you love about Extra Credit and what topics you want covered! The global economy faced severe headwinds in 2023 that tested its resilience—a banking crisis, tight monetary policy and some of the worst geopolitical tension seen in years. Still, the U.S. defied recession fears. Hear about the events that shaped the financial landscape of this past year and what lies ahead. Connect with...

Tell us what you love about Extra Credit and what topics you want covered! As the new generation of credit professionals takes over the B2B credit industry, they are approaching customer relationships differently. However, the goals remain the same—create a strong sense of trust, improve customer service and mitigate risk. Connect with us on LinkedIn: @ Nacm-National @ FCIB

Tell us what you love about Extra Credit and what topics you want covered! NACM’s Credit Congress & Expositio n started off as a mission to bring together credit professionals from across the nation to network, learn and stay informed about the latest changes in the credit world. Now, it is more than just an annual hub of credit knowledge—it’s a catalyst for career growth and professional deve...

Tell us what you love about Extra Credit and what topics you want covered! Amid the intricate tapestry of commerce, there exists a silent but pivotal protagonist: the B2B credit management function. Credit management has played an integral role in shaping the financial health and stability of businesses throughout history. Credit is a critical cornerstone upon which the world of commerce rests—and...

Tell us what you love about Extra Credit and what topics you want covered! An independent study of NACM members revealed those who hold certifications average 6% higher salaries than those who do not, and many credit managers hold more than one certification. Learn what credit managers have to say themselves about the value of professional certifications.    Connect with us on LinkedIn: @ Nacm-Nat...

Tell us what you love about Extra Credit and what topics you want covered! Burnout has become a corporate vampire, draining the life out of employees through emotional exhaustion and lost productivity. By understanding the causes of and the preventative measures for burnout, credit professionals can maintain the physical and mental well-being of their credit team as well as improve performance in...

Tell us what you love about Extra Credit and what topics you want covered! Just as a football team relies on every player’s commitment and passion to achieve victory, an organization thrives when its employees are fully engaged. Learn about lessons that every credit leader can learn from football to energize their teams and score business success. Connect with us on LinkedIn: @ Nacm-National @ FCI...

Tell us what you love about Extra Credit and what topics you want covered! The term "ghosting" is not just for the dating world.  Picture this during Halloween season ... you've extended credit to a customer, and everything seems to be going smoothly. Invoices are sent, but suddenly, it's as if your customer has vanished into thin air. They're not responding to calls or em...

Tell us what you love about Extra Credit and what topics you want covered! 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. Complete the CMI every month for the next 12 months and automatically be entered into a dra...

Tell us what you love about Extra Credit and what topics you want covered! A recent eNews poll revealed that one quarter of credit professionals use ChatGPT in some capacity for their work. Hear about the advantages and disadvantages of using ChatGPT in the credit department. Connect with us on LinkedIn: @ Nacm-National @ FCIB

Tell us what you love about Extra Credit and what topics you want covered! The role of a credit manager extends far beyond credit and collections. The credit department is the backbone of every business that supports other teams and drives success.  Connect with us on LinkedIn: @ Nacm-National @ FCIB

Tell us what you love about Extra Credit and what topics you want covered! A recent eNews poll revealed that 34% of departments separate credit and collection functions. Regardless of the chosen strategy, open communication and well-defined procedures are essential to ensure the success of either approach. Connect with us on LinkedIn: @ Nacm-National @ FCIB

Tell us what you love about Extra Credit and what topics you want covered! Subchapter V small business bankruptcies are up 43% year-over-year in August, the 13th consecutive month of increase. This upward trend is likely to continue through the rest of the year and beyond. The pros and cons of Subchapter V bankruptcy is a matter of perspective.  Connect with us on LinkedIn: @ Nacm-National @ FCIB

Tell us what you love about Extra Credit and what topics you want covered! Onboarding new employees isn't just about completing paperwork and handing out company policies; it's about setting the stage for success and nurturing a sense of belonging. Connect with us on LinkedIn: @ Nacm-National @ FCIB