Extra Credit

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

Tell us what you love about Extra Credit and what topics you want covered! For this week's episode of Extra Credit, we invited five emerging credit leaders to share their experiences, lessons learned and plans for the future. An emerging leader refers to an individual who is in the process of developing and displaying leadership qualities, often in the early stages of their career. Emerging l...

Tell us what you love about Extra Credit and what topics you want covered! It might feel like the credit and sales teams are speaking two completely different languages. But by putting the company’s goals and objectives first, both departments can become an unstoppable force in driving positive business results. Connect with us on LinkedIn: @ Nacm-National @ FCIB

Tell us what you love about Extra Credit and what topics you want covered! In the modern-day world of social media platforms, influencers have become some of the most prominent figures within the marketing and advertising industries. It may be difficult to think that there are any similarities between social media influencers and credit professionals, but some influencer characteristics are key to...

Tell us what you love about Extra Credit and what topics you want covered! NACM’s Credit Managers’ Index fell 2.6 points in July to 52.4, nearly erasing the jump seen in June. NACM Economist Amy Crews Cutts says the decline can be linked to major drops in three factors—sales, dollar collections and dollar amount beyond terms. Connect with us on LinkedIn: @ Nacm-National @ FCIB

Tell us what you love about Extra Credit and what topics you want covered! Credit professionals have big plans to keep their businesses profitable and successful as the role of credit and accounts receivable (AR) departments continues to grow exponentially each day. In the next 18 months, 41% of credit professionals say their biggest focus for AR is to develop a stronger focus on customer relation...

Tell us what you love about Extra Credit and what topics you want covered! Business bankruptcies have soared to levels not seen since the Great Recession, and it is likely just the beginning. Another worrying trend in corporate bankruptcy is businesses filing for Chapter 11 more than once, also known as Chapter 22 bankruptcy. Connect with us on LinkedIn: @ Nacm-National @ FCIB

Tell us what you love about Extra Credit and what topics you want covered! Some encouraging economic trends and reports suggest that a soft landing may be in the cards, says NACM Economist Amy Crews Cutts, Ph. D., CBE. Find out why during this episode of Extra Credit! Connect with us on LinkedIn: @ Nacm-National @ FCIB

Tell us what you love about Extra Credit and what topics you want covered! The best credit decisions are made in a team environment and several different departments can provide input. A recent eNews poll revealed 97% of credit teams involve upper management in credit decisions, along with the sales team (26%), treasury (9%) and customer service (3%). Connect with us on LinkedIn: @ Nacm-National @...

Tell us what you love about Extra Credit and what topics you want covered! Trust is the foundation of any relationship, whether with your colleagues, friends or family. It can take years to build and seconds to break—and when it comes to leadership in the workplace, earning your team’s trust is the most effective way to improve engagement, retention and business productivity.  Connect with us on L...

Tell us what you love about Extra Credit and what topics you want covered! According to a PWC working capital study, 98% of interviewed CEO’s admitted they could be more confident about the visibility they have over cash flow. Learn how the credit department can create more visibility around AR with the help of automation. This episode is brought to you by BlackLine . Complete our State of AR Auto...

Tell us what you love about Extra Credit and what topics you want covered! On this special episode of Extra Credit, we take you to the Expo floor at Credit Congress in Grapevine, TX to hear how NACM has positively impacted the careers of several different credit professionals. Connect with us on LinkedIn: @ Nacm-National @ FCIB

Tell us what you love about Extra Credit and what topics you want covered! With the pandemic “free money” era officially coming to an end, many businesses that are on the margin are starting to struggle. As a result, corporate bankruptcies are on the rise across the U.S.---commercial Chapter 11 filings increased 105% in May year-over-year. This underscores the importance of an effective collection...

Tell us what you love about Extra Credit and what topics you want covered! NACM’s Credit Managers’ Index slipped 1.6 points in May to 52.2—nearly erasing three months of improvement. NACM Economist Amy Crews Cutts says this indicates the economy could collapse under the mounting pressure of lingering debt ceiling issues, interest rate hikes and continued stress in the banking sector.  Connect with...

Tell us what you love about Extra Credit and what topics you want covered! Automation can be a credit manager's best friend to reduce department turnover, connect with customers and spend less time chasing past-due payments---especially during periods of high interest when businesses rely heavily on accounts receivable departments for cash application. Complete our State of AR Automation surv...