Extra Credit

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Whether you’re checking in with your small cohort in the credit department or taking a few minutes to go over financials at the monthly all-staff meeting, preparing for a presentation can be stressful. Hear how to create an engaging and concise presentation that covers all the important data vital to accurately capture the plight of your credit department.

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

📊Most credit tasks, such as reviewing accounts, managing collections, customer research and handling disputes, are inherently time-consuming due to their complexity and the need for attention to detail. 

⚒️These tasks often involve manual processes, multiple data points and regular follow-ups, all of which can drain resources and slow down overall efficiency.  

⏩Streamlining these tasks allows credit teams to focus on high-priority activities, improve cash flow, reduce errors and enhance decision-making. 

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

What sets successful credit departments apart in today’s fast-paced market? It’s the rise of the 10X credit manager—professionals who build strong customer relationships, identify critical trends and drive innovative strategies.

Join NACM as we talk about 10X credit managers with Ali Kidwai, senior manager of product and implementation at Bectran. Topics covered include:

✅ Why the 10X credit manager is vital for future success
✅ How companies can nurture and empower this talent
✅ The tools and policies transforming credit departments 

Listen now and reshape your credit strategy! 

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The credit approval process is a critical responsibility for credit managers. It allows businesses to assess a customer’s creditworthiness, minimize the risk of bad debt and make informed decisions about extending credit. Whether onboarding new customers or increasing credit limits, establishing an efficient credit approval process can significantly impact a company’s revenue and strengthen long-term customer relationships.

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From handling customer disputes to managing cases of bankruptcy, credit professionals are often faced with high-stress situations. However, prolonged stress can lead to burnout, particularly during the year-end when workloads intensify.

Credit professionals must recognize the telltale signs of burnout and carry out proactive solutions to prevent it in themselves and in their team members. This will improve the health and performance of your department.

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The new year brings resolutions, renewed optimism and motivation to achieve credit department goals. By setting goals and creating a plan to achieve them, credit professionals can secure their department's long-term success.

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💵Year-end slowed or delayed payments have become common practice for businesses. Oftentimes, companies that operate seasonally or are facing tight economic conditions will hold off on non-essential payments, saving their credit debt for last. 

📈Many customers intentionally make late payments so they can report a stronger financial position at the end of each quarter or year.

🧠Mastering strategies to handle these slow payers will keep cash flowing and risk at bay as you close out the year. Here’s your survival guide to tackling year-end collections so you can ward off any cash flow scares.

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Join us for a conversation with Chelsea Starley, enterprise account executive with Coface, as we explore the role that business information plays in smart credit decisions. 

• Key information every credit manager needs to know about customers.
• Why business data is a credit manager's best asset.
• How inaccurate information strains team relationships.
• Tips for collecting information under the pressure of fast decisions.
• Inspiring examples of business data to navigate international markets. 

This episode is a must-listen for credit managers eager to enhance their decision-making skills. 

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Many NACM members find time to volunteer time and give back to their communities, whether it’s in their local neighborhood or their professional fields. Volunteering their time has allowed members to develop deep connections and build networks outside of their work that give way to mentorship and career advancement. 

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📢When you’re at work, it feels like there is nothing scarier than getting called into the boss’s office. Whether it’s a performance review or notes on a recent project, getting feedback can be tough. For many supervisors, it’s just as hard to give this feedback as it is for employees to receive.

🗣️As a credit manager, you may be accustomed to being on the receiving end of all kinds of criticism from clients, for better or for worse. But how do you navigate critiques within the workplace without hurting morale?

Connect with us on LinkedIn: @Nacm-National @FCIB