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Credit professionals have reported an increase in payment delays as customers feel the pressure of inflation, supply chain issues and overarching economic volatility. Now is the time for credit professionals to remind customers of any late fee or interest rate policies to encourage timely payments.

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Mistakes in the credit department can be costly for a company, but in some cases, it is the only way to learn. Hear how some credit professionals make the best out of failing.

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Like so many other industries, B2B credit was once a male-dominated profession. In fact, the acronym NACM once stood for the National Association of Credit Men up until 1958 when the ‘M’ was changed from representing the word men to management. 

Women have not only joined the credit management profession—they have excelled in the industry. That’s why we want to take the opportunity during Women’s History Month to celebrate female credit leaders who bring a special perspective to the field.

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NACM’s Credit Managers’ Index (CMI) improved for the first time since October with a 1.1-point jump from 51.3 to 52.4. While this is a sign that a recession will likely happen later than originally forecasted, many credit professionals remain cautious, said NACM Economist Amy Crews Cutts, Ph.D., CBE.

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Bankruptcy courts are getting busy as more large companies have filed for bankruptcy last month than in any January since 2010. Total commercial filings increased 12% year-over-year, Subchapter V filings are up 49% and commercial Chapter 11 filings increased 70% … and insolvencies are only expected to pick up with a vengeance as we head further into 2023. Hear from the experts about the best bankruptcy risk mitigation tools! 

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Hardworking employees naturally seek promotions and raises as a reward for their contributions. But sometimes it can be challenging to make large career jumps at the same organization. 

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Like many industries these past few years, B2B credit has needed to adjust to a new digital reality. Most credit departments have adopted more technology and automation than ever before, except when it comes to digital credit applications. According to an eNews poll, more than half of credit professionals say only 25% or less of credit applications they receive are online, while 18% have fully digitized the credit application process and no longer accept paper.

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NACM’s Credit Managers’ Index (CMI) fell 0.3 to 51.3 in January, continuing its downward trend over the last nine months. But more concerning is that the sales factor has seen the most significant decline in the last 12 months and is now in contraction territory for the first time since May 2020 at 49.8—a drop of 21.3 points year-over-year. Hear from NACM Economist Amy Crews Cutts.

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The construction industry is expected to face many hurdles this year amid economic turbulence--between supply snags, project delays, labor shortages and climate. 

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It often feels like there is this invisible barrier between the credit department and the C-Suite, but it does not have to be that way. By establishing a strategic leadership culture, you will create a place where people want to work for you and where upper management recognizes your hard work. But leadership should not be confused with management because they are not the same. 

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