May 23, 2024

Posted by & filed under Credit Insurance.

Written By: Allianz Trade Economic Research

The 2024 and 2025 global economic landscape remains one of a world grappling with sluggish growth and evolving geopolitical dynamics, while central banks and policymakers navigate through inflationary pressures and economic uncertainties.

Global GDP growth is expected to be modest, staying below 3% over the next couple of years. Advanced economies are projected to maintain a steady growth rate of 1.6% in 2024, whereas emerging markets will experience a slowdown, growing at around 4%. The economic gap between the US and Europe, which was significant in 2023, is anticipated to narrow. The US economy is forecasted to grow by 2.4% in 2024 and 1.7% in 2025, while the Eurozone will see slower growth at 0.7% in 2024, picking up to 1.5% in 2025.… Read the rest

May 23, 2024

Posted by & filed under AI, Collections, Construction, Lien Law.

Written By: – A Preferred Partner of NACM CS

In today’s rapidly evolving financial landscape, artificial intelligence (AI) is not just a buzzword but a transformative force reshaping various industries, including credit management. As credit managers and accounts receivable professionals, it’s natural to approach new technologies with caution. However, AI stands not as a threat to replace jobs but as a powerful tool to enhance efficiency, accuracy, and decision-making in daily workflows. This article aims to demystify AI for beginners in the credit management field, illustrating its benefits and why it should be embraced, not feared.

Understanding AI in Credit Management

AI encompasses a range of technologies capable of performing tasks that typically require human intelligence.… Read the rest

May 23, 2024

Posted by & filed under Credit, Surcharging.

Jamilex Gotay, editorial associate, NACM

In recent years, credit cards have surged in popularity among customers within the B2B credit industry.

Why it matters: Knowing why this trend is happening is critical for B2B trade creditors as it holds the potential to alter financial strategies and influence business operations.

What they’re saying: “Severe inflationary pressures over the past three and a half years have driven margins down significantly, and more businesses have started to accept credit cards in B2B trade at a drastically accelerated rate,” Andrew Behlmann, partner at Lowenstein Sandler LLP (Roseland, NJ) said during a live NACM webinar, Just a Little off the Top: Strategies for Reducing the Growing Cost of B2B Credit Card Acceptance.Read the rest

May 23, 2024

Posted by & filed under Credit.

We appreciate your participation in the NACM Commercial Services Foundation fundraising portions of the event. Your contributions raised nearly $2700.00 in Portland and $5000.00 in Spokane for future scholarships!! THANK YOU!

We would also like to express our gratitude to all our members for participating in the Gather and Grow—Credit Professionals Event. Your involvement and support made the event a resounding success.

A special thank you goes out to all those who donated to the foundation fundraiser. Your generosity is helping to create valuable scholarship opportunities for the future.

Thank you once again for your incredible support and participation! (See list Below)

Alaina Worden, CCE
American Tradesmen
Brett Hanft, CBA & Zendra Hanft
CAD of Spokane Inc
Clara Nemeth, CGA, CCE
Cinola Restaurant & Lounge
Coast Cutlery
Columbia Sportswear Co
Costco Wholesale
CPM Development
Dunn Carney LLP
DuPree Building Specialties
Erin Stammer, CCE
Fueled Coffee Company
Inland Welding Supply DBA
A-L Compressed Gasses
Jen’s Bagels & Pastries LLC
Kai USA Ltd
Karol Saito, CBF
Keen Inc
Kilgore TEC Products Inc
Kim Jones, CBA
Kodiak BP LLC

Mighty Johns Portable Toilet
& Septic Service Inc
Modern Glass
NACM Commercial Services
NACM National
Northern Republic
Nutrien US LLC
OrePac Building Products
Pacific Metal Company
Pacific Steel & Recycling
Parr Lumber
Peet Shoe Dryer
Ponderosa Bar & Grill
Shannon Japport
Sheryl Rasmusson, CCE
Spokane House of Hose
Star Rentals
Tawyna Marsh, CCE
The Bearded Ginger
Bar and Grill
WCP Solutions
ZAK Designs Inc

Read the rest

Mar 28, 2024

Posted by & filed under AI, Credit.

Written By: Jeremy L. Kahn, Principal at Berman Fink Van Horn

In April 2023, a series of inadvertent leaks of sensitive information by Samsung employees highlighted the potential risks associated with the use of generative AI. A Samsung engineer input confidential source code and asked ChatGPT to check the code for errors. And then another employee shared additional code with ChatGPT and requested “code optimization.” And then, yet a third Samsung employee created minutes of a confidential company meeting by feeding a word-for-word transcription of the meeting into ChatGPT. In each instance, the employee inadvertently—but publicly—disclosed Samsung’s confidential information to the public.

How could Samsung have prevented this? With a well-written AI policy and employee training specifically on the acceptable uses of generative AI.… Read the rest