NACM Credit Congress: Preparing for Next Economic Downturn

Even though it has been six years since the great recession in the United States, history illustrates that economic downturns typically repeat themselves. Being proactive now can help better position credit managers and their companies to be prepared if a disaster strikes. A group of expert panelists discussed this very topic on Tuesday during NACM's 119th annual Credit Congress in St. Louis.

“Companies are becoming a lot more attuned to hiring specialists as they need them. That's a danger for professionals in a specialists position,” said NACM Economist Chris Kuehl, Ph.D., a panelist during the "Positioning You and Your Company for the Next Downturn" education session Wednesday. “Do I really want a credit manager full time?” is a real and dangerous questions businesses may ask themselves. 

The session  was moderated by Al Carmenini, of Al Carmenini, LLC, and its panelists included: Mark Filippini, CCE, credit manager for Akzo Nobel Chemicals Inc.-North America; Camillo Gomez, Ph.D., senior vice president of quantitative research for CreditRiskMonitor, Inc.; and Chris Kuehl, who is also managing director for Armada Corporate Intelligence.
The panel gave advice on the importance of credit professionals to advocate for themselves and their position, along with voicing the risks they see with customers. “You want to be crying wolf,” said Filippini. “You want to put yourself out there.”

- Jennifer Lehman, NACM marketing and communications associate

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