May 23, 2024

Job satisfaction is the key driver of positive results. If an employee likes their job and all it has to offer them, they will stay loyal to the company. But job satisfaction can be broken down into many layers—and what one employee puts at the top of their list could be completely opposite of their colleague.

Why it matters: This remains true for B2B credit professionals. Several factors can go into what promotes job satisfaction, both personally and professionally.

By the numbers: A recent NACM eNews poll revealed 30% of credit professionals say work-life balance is the highest component in overall job satisfaction, and another 30% said recognition for contributions most improved job satisfaction.

• In the U.S., 65% of employees are satisfied with their job and 74% of employees in the U.S. believe that company culture is one of the biggest contributing factors to job satisfaction.

If you are unsure what makes you happy professionally, it can cause unsettling feelings toward your purpose and place at your company. So, let’s take a deeper look into the top four components of job satisfaction to see which one fits you the best.

Work-life balance

Finding a balance between work and life can be tricky at times. When quarter-end or year-end projects start to pile up, and your typical eight-hour day of work is being taken home with you, it can lead to chronic stress and even burnout.

For professionals who work in credit and finance, the expectation is that quick and correct decisions are made when extending credit. As a credit professional of 35 years, Brett Hanft, CBA, credit manager at American International Forest Products (Portland, OR), believes everyone should know their limit of when it is time to step away and decompress.

“It's important to turn off everything, like work phone calls, as you walk out the door or take time away, knowing your well-trained team can handle the work in your absence,” Hanft said. “We all rely on the paychecks from our employers, but family comes first. Every day is not a given, so you need to make the most out of each day understanding that we will get the work done but we're also fulfilling ourselves and our lives outside of the work environment.”

Work culture

A company's work culture plays a big role in work-life balance as well. If the motto of a business is something like work hard, play never! or we are extremely fast-paced, for example, it may not be the best work environment for someone who places work-life balance at the top of their list of nonnegotiable needs.

Employees like to feel connected to their colleagues along with the mission and core values of the company—all of which improve productivity and engagement in the work they are given.

“I think a supportive work culture is placed as a very important need for employees these days,” said Erin Stammer, CCE, vice president of credit at PNW Railcars, Inc. (Portland, OR). “Some of that may stem from the pandemic when people had an opportunity to take a different look at what's important to them. Many employees now are less likely to endure a toxic workplace and are prioritizing their mental health, so they're not likely to stay at jobs where they're feeling under immense pressure, micromanaged and overall, not supported.”

Recognition for contributions

All employees like to see that their presence and work are valued at their company, as 92% of workers are more likely to repeat an action after receiving recognition for it. Recognition can take form in many ways. Managers who give their team members feedback is a form of recognition because it shows that their work is being looked over and their contributions count toward the greater good of the company.

“I believe that at a basic, human instinctual level, everybody wants recognition,” said Hanft. “Recognizing a job well done, an effort that went above and beyond expectations or just being recognized for the job that you're doing is something that everyone likes to hear. That reaffirmation is important. Hearing it from peers and from management and from your C-Suite team always goes such a long way.”

Professional development opportunities

Professional development does not have a time limit, but it can be a main source of job satisfaction for those who are just starting their career or going through career changes. The focus of professional development can also be influenced by generational differences and attitudes toward working.

“Even though each generation is different, every individual within them is different,” said Roxanne Price, CCE, CCRA, NACM chair elect and corporate credit manager at H&E Equipment Services, Inc. (Baton Rouge, LA). “You can’t make assumptions on what your team members may want because they are younger or in a different stage of their career. You have to find that balance and mix to accommodate all your employees as needed.”

The bottom line: No matter where you place your value for job satisfaction, it is important to communicate that with your upper management to fulfill those needs.

Whether it's about the latest technology or providing a thorough understanding of their terms and conditions, credit professionals are always striving to keep their customers well-informed and educated.

Why it matters: Counseling or educating your customers not only shows that you value them, but it enhances trust, business performance and professional reputation.

What they’re saying: Counseling or educating customers during the onboarding process is vital, as it shapes the customer relationship and future credit decisions. Brittany Yvon, CBA, CICP, credit manager at OMG, Inc. (Agawam, MA), sends her new customers a welcome packet that includes their terms, conditions of sale, return policy and bank information.

“We go over our welcome packet to ensure there are no surprises with any of the information I send to them and have them sign off on the information,” Yvon said. “We try to push for ACH by listing the benefits such as it being quicker and avoiding USPS delays.”

Credit professionals can also counsel their customers on best practices for their business. Carl Davidson, director credit and collections at Blue Water Industries LLC (Jacksonville, FL), educates his customers on construction lien laws by forwarding information about seminars in their area. “It’s one of the best things we can do because the customer sees that we're trying to help them and make sure that they're going to get paid so that they in turn can pay us timely.”

It is imperative to keep customers informed about the latest trends and developments to mitigate the risk of financial loss. Davidson arranges sessions with attorneys to alert his customers about upcoming changes, particularly those that may negatively impact suppliers and contractors.

“We also help them understand our process as far as how we invoice and how we send statements,” Davidson said. “It's amazing how many customers double pay us, first from a ticket and then an invoice, or from an invoice and then a statement.”

Through technology, customers can stay informed on any recent changes or updates. “Customers are able to track shipments, create quotes and make payments online using a portal,” said Ashley Kusiolek, AR specialist at Trinity Logistics (Seaford, DE). “We also have a PDF file that walks them step-by-step through the process, which is easy to send over to them."

Yes but: Credit professionals may counsel their customers on financials, such as credit scoring, to strengthen their financial position. But avoid sharing proprietary or competitive information with customers to comply with antitrust laws. Violations can lead to liability, financial loss and reputational damage for all involved.

Marlene Groh, CCE, ICCE, regional credit manager at Carrier Enterprises LLC (Charlotte, NC), won’t advise customers on financial analysis but she will help customers find resources to address concerns. “I tell customers what could be hurting their credit score but not what to do because that could lead to culpability,” she said.

Instead, Groh helps her customers by providing education or information on lien rights and how to secure them on their commercial jobs. Her company also offers programs to help manage business practices, such as financing options for customers.

Helping your customer succeed, rather than just making money, is the epitome of a good business. “Anybody who sees that you're trying to help them be successful, is going to trust you more and move you to the top of that pay list because they know that you're looking out for them,” Davidson said.

The bottom line: Consider prioritizing customer counseling and education to enhance trust, improve business performance and protect against financial risks, while avoiding the sharing of proprietary or competitive information.

Automation is at its all-time high across industries. B2B credit departments are considering implementing new technology and tools to better service their customers. Whether through ACH payments, online payment portals or the help of AI, credit professionals must know the most effective ways to use automation to their advantage.

For example, using automation software to complete the more repetitive or mundane tasks can help save time and allow staff to focus on other areas that need attention.

According to a recent eNews poll, 17% of credit professionals are looking for an automation vendor—and although the unknown may seem intimidating, knowing where to start will help immensely.

Why it matters: At NACM’s upcoming 128th Credit Congress in Las Vegas, credit managers can explore the Expo that showcases service providers representing diverse companies from the U.S. and abroad. Each company will demonstrate how their products and services can assist credit professionals in their daily responsibilities.

Credit Congress is the largest gathering of business credit and financial management service providers in the nation. With opportunities to speak with exhibitors one-on-one and see product demonstrations or sit in on presentations in the classroom theater Solutions Hub in the expo, credit professionals can gain valuable insights into the technologies shaping the credit management landscape, empowering them to make informed decisions for their departments.

The Expo Hall showcases services and solutions relating to banking and financial services, cash applications, credit management, software and technology, electronic commerce and more.

One of the best ways to learn about vendors and new tools all at once and conveniently is by attending the Solutions Hub, as it offers succinct, interactive forums, presentations and demos on credit-related topics. Each participating exhibitor will present product demonstrations and Q&A sessions in 20-minute segments.

The Solutions Hub Presenters include:

• Handle
• Emagia
• NACM’s Credit Managers’ Index (CMI)
• Sidetrade
• Bectran
• Highradius
• Nuvo
• BlackLine
• UTA
• Billtrust

The Solutions Hub is perfect for those interested in learning more about a product or service in a classroom-like environment.

What they’re saying: Automation processes should be incorporated into baseline knowledge of a credit manager. They play an essential role in effective credit management—whether through AR or customer portal payments, for example.

“Technology and automation are here to stay in the credit profession,” said Charles Edwards, Jr., CCE, vice president of credit operations at SRS Distribution, Inc. (Mc Kinney, TX). “Tech’s role in credit management is only going to continue to become more pronounced—and those who embrace technology will outperform those who do not. Virtually all of SRS Distribution and Heritage Family of Companies credit processes have some form of automation from: initial credit decisions, account setup, billing, dunning, order releases, preliminary notices, waivers and more.”

The bottom line: Check out NACM's 128th Credit Congress& Expo for opportunities to explore diverse automated tools from various vendors to help enhance daily responsibilities.

Notarization ensures the authenticity and integrity of important documents, preventing potential fraud and forgery. With the advent of electronic notarization (or e-notarization), organizations can now have documents notarized in a more efficient, secure and convenient manner.

Why it matters: Understanding and implementing e-notarization can streamline the authentication process for vital construction credit documents, enhancing efficiency and reducing potential delays in project timelines.

Notarization is a process that authenticates signatures, ensuring signers are who they say they are, and understand and willingly sign documents. It involves a Notary Public, an official who has the legal authority to say that documents are correctly signed or true or to make an oath (promise) official.

A Notary performs a variety of official fraud-deterrent acts related to the signing of important documents called notarizations, or notarial acts.

• A Notary is required to adhere to written rules without substantial personal discretion, unlike a judicial official.

Electronic Notarization

In 2006, the National Association of Secretaries of State (NASS) supported laws for electronic notarization or e-notarization in several states.

• An Electronic Notary (or E-Notary) electronically notarizes documents without people needing to be present in one room.

E-notarization is becoming increasingly popular in the construction credit sector. In some construction projects, a property owner or general contractor may want a notary to confirm the signer’s identity, especially if they don’t personally know the subcontractors involved.

According to DeAnna Leahy, CCE, corporate credit manager at Sunroc Corporation (Orem, UT), the increased use of e-notaries in construction credit processes is due to the following factors:

• Efficiency and convenience: With e-notarization, documents can be notarized remotely, saving time and resources for both construction creditors and their clients.
• Enhanced security: E-notarization's advanced encryption and authentication measures make notarized documents more secure than traditional paper-based methods.
• Remote work trends: Construction creditors and clients may not always be able to meet in person, making remote notarization a practical solution.

Yes, but: Not all states allow e-notarization for all types of documents, and regulations may vary. Documents that require notarization for legal validity are eligible for e-notarization if permitted by state law.

Construction credit documents that may need notarization:

• Loan agreements
• Mortgages or deeds of trust
• Mechanics' (Construction) liens, lien releases
• Affidavits of completion or sworn statements
• Joint check agreements

What they’re saying: Tina McGlamory, lien manager at Trulite Glass & Aluminum Solutions, LLC (Peachtree City, GA), says that some vendors and attorneys allow them to use e-notaries when filing liens. “Most of the time, for e-notarization, they’d want an original copy mailed to back up their file,” she said. “If that's the case, we would scan and send them the notarized original by email for filing.”

The problem with e-notarized lien waivers is that some states, such as Florida or North Carolina, will require you to keep records of the notarized documents. Alissa Brown, credit manager at Koch Air LLC (Evansville, IN), says she would prefer to use e-notary more often but many of their contractors still require them to mail original waivers to them.

While e-notarization can streamline construction credit processes and offer greater flexibility, understanding its legal and practical considerations is essential.

Construction creditors should be aware of the following key points regarding e-notarization:

• Legal validity: E-notarized documents are considered legally valid, provided they comply with applicable state laws and regulations.
• Verification: E-notarized documents should include the electronic signature and seal of the notary, along with evidence of any changes made to the document.
• Compliance: Construction creditors should ensure that e-notarization processes comply with relevant state laws and industry regulations.
• Risk management: While e-notarization offers benefits in terms of efficiency and convenience, construction creditors should also consider risk management factors, such as data security and fraud prevention.

“E-notarization does not completely eliminate the need for in-person notaries, as there may still be circumstances where physical presence is required or preferred,” Leahy said. “However, it significantly reduces the need for in-person meetings, especially for parties located in different geographical areas.”

The bottom line: Despite its limitations and varying regulations, e-notarization offers a more efficient, secure and convenient method for authenticating critical construction credit documents that can enhance workflow processes and accommodate remote work trends.

Interested in learning more about e-notaries? Reach out to Chris Ring of NACM’s Secured Transaction Services (STS) at This email address is being protected from spambots. You need JavaScript enabled to view it..