November 2016 Credit Management magazine

CREDIT MANAGEMENT
THE CICM MAGAZINE FOR CONSUMER AND
COMMERCIAL CREDIT PROFESSIONALS
NOVEMBER 2016 £10.00
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CONTENTS
NOVEMBER 2016
www.cicm.com
REGULARS
4 Editor’s column
6 News
11 CICMQ news update
30 International Trade
34 Legal Matters - DWF
44 Forthcoming Events
48 HR Matters
52 New members
54 Branch News
59 Cr£ditWho? directory
63 Crossword
FEATURES
12 ASK THE EXPERTS
Stuart Hopewell and David Kerr give
an independent opinion on Pre Pack
administration sales.
14 FROM THE CHAIR
Laurie Beagle, FCICM outlines his hopes and
aspirations as the new CICM chair.
16 TOWN AND COUNTRY - COVER FEATURE
Sean Feast visits the credit services team at
Aggregate Industries, and has a tour around
one of Europe’s largest quarries.
20 RABBIT IN THE HEADLIGHTS
Frank Whitworth recalls more tales from his
every day working experiences as a High
Court Enforcement Officer.
22 THE FUTURE OF TECHNOLOGY
Steve Richardson delves deeper into SaaS
solutions.
24 SOAPBOX CHALLENGE
A credit control manager from Belfast needs
convincing about the effectiveness of IVAs.
CICM GOVERNANCE
25 COUNTRY FOCUS
Adam Bernstein takes a closer look at what’s
causing Russia’s current malaise.
29 TRADE TALK
Lesley Batchelor FCICM OBE emphasises the
importance of global economic integration.
34 LEGAL HELP FOR CICM MEMBERS
The CICM’s legal partner DWF provides legal
advice for members and readers.
36 MAKE YOUR CASE
Sean Feast asks the key players in trade
credit insuracnce to describe their most recent
products and innovations, and services ‘beyond’
credit insurance.
40 BENCH PRESS
Amir Ali gives the CCUA’s response to Lord
Justice Briggs’ Civil Courts Structure Review.
42 PAYMENT TRENDS
The latest monthly business-to-business
payment performance statistics.
46 EDUCATION
Debbie Tuckwood, CICM Director of Learning and
Development, highlights recent initiatives of the
CICM Vulnerability Group.
30
7
37
PRESIDENT
Stephen Baister FCICM
CHIEF EXECUTIVE
Philip King FCICM CdipAF MBA
EXECUTIVE BOARD
Laurie Beagle FCICM – Chair
Glen Bullivant FCICM
Sue Chapple FCICM
Larry Coltman FCICM
David Thornley FCICM(Grad) – Treasurer
Pete Whitmore FCICM – Vice Chair
ADVISORY COUNCIL
Laurie Beagle FCICM
Jason Braidwood FCICM(Grad)
Glen Bullivant FCICM
Sue Chapple FCICM
Larry Coltman FCICM
Kim Delaney MCICM
Eleimon Gonis MCICM
Victoria Herd FCICM(Grad)
Christelle Madie MCICM(Grad)
Debbie Nolan FCICM
Bryony Pettifor FCICM(Grad)
Allan Poole MCICM
Phil Rice FCICM
Charlie Robertson FCICM
Chris Sanders FCICM
Richard Seadon FCICM
Shakti Tanda MCICM(Grad)
David Thornley FCICM(Grad)
Debra Weston MCICM
Pete Whitmore FCICM
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www.cicm.com November 2016 3

CREDIT MANAGEMENT
CM
THE CICM MAGAZINE FOR CONSUMER AND
COMMERCIAL CREDIT PROFESSIONALS
the
Editor’s
column
HAVING A LITTLE FUN
ALONG THE WAY
ONE of the best bits about being a
journalist, and especially the managing
editor of Credit Management, is getting
out and meeting people. Those who
work in the credit industry are rarely dull, and
invariably have a good story to tell.
I first bumped into Phil Rice FCICM and his
team at our awards bash earlier in the year.
Now when I say ‘bumped’, I really mean it. I
had the pleasure of presenting them with an
award and as I announced the name, a great
surge of people started charging towards
me and the stage as though someone had
just opened the door on the first day of the
Harrods sale. It was a level of passion and
enthusiasm, perhaps aided by a few snifters,
that is reassuring to see in a world in which
we are often too quick to criticise, and
similarly too slow to praise.
Having extricated myself from the scrum, I
promised Phil I would come and see him, and
last month I got to fulfil that promise with a trip
to the Aggregate Industries’ site in Barden Hill
in Leicestershire. It was a genuine eye opener
to see Phil and his team operating as one,
with a shared ambition and commitment to
be better every day. I have worked in a good
many environments, and led a good many
teams, and think I can spot when something
is for ‘show’ or whether the employees really
mean what they say. At Aggregate Industries,
I can really say that they do, and it comes as
no surprise to learn that they have recently
been CICMQ-accredited for the fourth time
running. Neither is it a surprise to know that
they have been recognised as a CICM Centre
of Excellence.
All of us strive to be the best at what
we do. Personally, I have never been one
for fancy management speak, and abhor
those who adopt the David Brent school of
motivation, for the excellence in that character
was how painfully close he was to real life.
Leadership is first and foremost about getting
the job done, and having a little fun along the
way, in whichever industry you work.
So if Phil ever offers you a chance to have
a look around his quarry, I advise you to grasp
it with both hands. And if you ever get to
present his team with a trophy, enter into the
spirit of the occasion with both eyes open,
and your body armour tightly strapped.
CM MAGAZINE | CONTACT AND PUBLISHING DETAILS: ISSN 0265-2099
Publisher
Chartered Institute of Credit Management
The Water Mill
Station Road
South Luffenham
OAKHAM
LE15 8NB
Telephone: 01780 722910
Fax: 01780 721333
Email: editorial@cicm.com
Website: www.cicm.com
CMM: www.creditmanagement.org.uk
Managing Editor
Sean Feast
Deputy Editor
Alex Simmons
Art Editor
Andrew Morris
Telephone: 01780 722910
Email: andrew.morris@cicm.com
Editorial Team
Tom Berger, Imogen Hart and Iona Yadallee
Advertising
Anthony Cave
Telephone: 0203 603 7934
Email: anthony.cave@cabbell.co.uk
Printers
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2016 subscriptions
UK: £85 per annum
Overseas: £110 per annum
Single copies: £10.00
View our digital version online at www.cicm.com Log on to the Members’
area, and click on the tab labelled ‘Credit Management magazine’
Credit Management is distributed to the entire UK and international CICM
membership, as well as additional subscribers
Reproduction in whole or part is forbidden without specific permission. Opinions expressed in this
magazine do not, unless stated, reflect those of the Chartered Institute of Credit Management. The Editor
reserves the right to abbreviate letters if necessary. The Institute is registered as a charity. The mark ‘Credit
Management’ is a registered trade mark of the Chartered Institute of Credit Management.
4
November 2016 www.cicm.com
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CMNEWS
A
round-up
of news stories
from the world
of consumer and
commercial
credit.
By By Sean Feast and Alex Simmons
CONSUMER SPENDING
IMPACTS RETAILER CONFIDENCE
A
new study from Worldpay reveals
widespread uncertainty about trading
conditions across the retail sector. The
.payments processor claims retailers
that delay investments in their business in the
wake of the Brexit vote could be putting their
long-term prospects at risk.
Despite buoyant economic data from across
the retail sector, just under half (46 percent) of
UK retailers surveyed still believe there will be
a drop in consumer spending over the coming
year, versus 26 percent who believe trading
conditions will remain unchanged with 27
percent remaining undecided.
Retailers in London were more than twice
as likely to believe conditions will become
more challenging in the coming 12 months
than those across the rest of the UK. This stark
contrast in attitude suggests voter preference
could be influencing business behaviour as
much as available data.
Worldpay warns uncertainty over how Brexit
will impact trading conditions is causing many
retailers to delay vital investment needed to
modernise the sector and meet rapidly evolving
consumer shopping habits.
Nearly half (44 percent) of UK retailers
say the outcome of the Brexit vote has led
them to reconsider planned investments in
new technologies and channels to market,
something which Worldpay believes could limit
retailers’ ability to grow if left unchecked.
According to Worldpay’s research,
businesses selling through online channels
were far more confident about post-Brexit
trading conditions than those with only a
bricks and mortar presence, suggesting
that recent interest from overseas shoppers
taking advantage of currency fluctuations and
boosted online spending from non-UK cards,
which increased by 5.3 percent in the month
following Brexit, have served to reassure web
based retailers.
Dave Hobday, Managing Director of
Worldpay says recent high street data
suggests the UK retail economy remains
buoyant following the Brexit vote: “There are
clear opportunities for businesses to thrive in
post-referendum environment, in particular
multi-channel strategies that allow retailers to
broaden their customer base and appeal to
non-UK shoppers will enable businesses to
capitalise fully on the current competitiveness
of UK products internationally.”
Meanwhile according to the latest retail
study from insurance company AXA, while the
austerity years have hit independent shops hard,
small businesses are becoming a powerful force
for change in Britain’s communities.
The last decade has not been kind to
Britain’s little shops – they have seen costs rise
and profits shrink alongside family budgets, and
one in 10 local stores have closed down during
this period.
However, AXA’s research shows that the
survivors are quietly pulling together to improve
and sometimes save their communities, with
eight out of 10 participating in community
projects with other shop owners.
More than half of the retailers surveyed say
that their local shopping district is in decline
due to under-investment; 51 percent actively
lobby the local council for improvements to local
infrastructure and amenities, and one in five
are on a committee that organises community
events aimed at attracting outsiders to their
area.
Additionally, eight in 10 small retailers said
that they ensured their shops reflected their local
area’s history and character. In rural locations,
this brings important economic benefits – 72
percent of village shops provide retail space for
local craftsmen, artists and food producers, and
30 percent said their shop attracted tourists to
their village. Consequently, the pace of closure
of village stores – 300 a year – represents a
pending crisis in Britain’s countryside.
At the sharp end, those located in Britain’s
inner cities provide an informal support network
for homeless people; a quarter said they
provided help directly to those sleeping rough
in their locality. Likewise, a quarter have hired
someone previously living long-term on benefits,
and 15 percent have hired former prisoners
looking for a second chance.
The study also suggests that local shops
are a lifeline for Britain’s growing elderly
population, both financially and socially. A third
of independent shop owners said that local
pensioners would struggle to find an alternative
if they closed. worldpay.com/uk
6
November 2016 www.cicm.com
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CICM NEWS
ACCOUNTANCY BODIES
UNITE TO CLEAN DIRTY MONEY
THE first manifesto for Fighting Economic
Crime has been published by Consultative
Committee of Accountancy Bodies (CCAB),
the collective of five accountancy bodies –
ICAEW, ACCA, CIPFA, ICAS and Chartered
Accountants Ireland.
It highlights four key public policy areas
for improvement to the effectiveness and
capabilities of anti-money laundering (AML) in
the UK.
By including a clear and achievable fourpoint
plan to tackle money laundering and
terrorist financing, CCAB is urging the UK
Government to take the lead in strengthening
the AML regime, especially as the UK
considers the next steps for Brexit.
While welcoming the government’s
recently published Action Plan to counter
such devastating economic crime, CCAB says
that the Government must adopt the best
supervisory practices and not allow public
money to become tainted.
Anthony Harbinson, CCAB chairman and
director of Safer Communities, Northern
Ireland Department of Justice says the
Government needs to strengthen the
national AML infrastructure – which needs
specialist advice and support to ensure this
infrastructure is built on solid ground:
“While this manifesto is aimed at the
Government, CCAB also recognises that the
profession – professional bodies and their
members – have a vital role in combatting
economic crime. We are part of the solution,
with a commitment to report any identified or
suspected money laundering activity to the
Anti-Money Laundering Authorities, such as
the National Crime Agency.”
ccab.org.uk
BBA REPORTS SIGNIFICANT
GROWTH IN AGRI FUNDING
AS farmers across the country draw
harvest to a close, new industrywide
figures published by the British
Bankers’ Association (BBA) show that
bank lending to farms and other agricultural
businesses increased by £1.5 billion last year
– the largest rise since records began nearly
20 years ago.
New data from the BBA’s Annual Statistical
Abstract shows that high street banks
provided loans and overdrafts totaling £13.9
billion to agricultural, hunting and forestry
businesses in 2015 – a 12 percent increase on
the £12.4 billion total in 2014. Total lending to
these businesses in 2015 was at the highest
level on record.
The amount lent by major retail banks to
agricultural businesses in the East Midlands
expanded most quickly, increasing by almost
a third (32.8 percent) to the end of February
2015. Every region of the UK saw lending
expand in the same period, with the exception
of Wales which had seen a 21.5 percent
increase the previous year.
This means the total volume of borrowing
secured by this crucial part of the economy
has grown by over 50 percent in four years.
BBA CEO, Anthony Browne, says bankers
and farmers could not be more different in
the eyes of most people – the two sectors
are typically located in separate parts of the
country and play very different roles in the
economy:
“It’s important to recognise, however,
that both sectors share a mutually beneficial
relationship. The fresh produce that people
buy in shops or get delivered to their doorstep
is not only grown by farmers, it is funded
by banks. In the face of volatile commodity
prices, banks are supporting farmers through
these tough times. It is vital that farmers can
secure the finance that they need to invest in
crops, machinery or livestock.”
bba.org.uk
AWKWARD CONVERSATION FOR TALKTALK
TALKTALK has been issued with a
record £400,000 fine by the Information
Commissioner’s Office (ICO) for security
failings that allowed a cyber attacker to
access customer data ‘with ease’.
The attacker accessed the personal data
of 156,959 customers including their names,
addresses, dates of birth, phone numbers
and email addresses. In 15,656 cases, the
attacker also had access to bank account
details and sort codes. The data was taken
from an underlying customer database that
was part of TalkTalk’s acquisition of Tiscali’s
UK operations in 2009.
The data was accessed through an attack
on three vulnerable webpages within the
inherited infrastructure. TalkTalk failed to
properly scan this infrastructure for possible
threats and so was unaware the vulnerable
pages existed or that they enabled access to
a database that held customer information.
A criminal investigation by the Metropolitan
Police has been running separately to the
ICO’s investigation. ico.org.uk
The recognised standard
www.cicm.com November 2016 7

CICM NEWS
MISSING A TRICK IN
INTERNATIONAL TRADE
A
new report commissioned by World
First has found that the UK is losing
out on a potential £141.3 billion – more
than the combined UK government
budgets for health and defence in 2015/16 –
because of the SME export gap.
The report, entitled Thinking Global: The
route to UK exporting success, was conducted
by the Centre for Economics and Business
Research. Yet despite this renewed focus on
new markets and trade, the report found that
only five percent of UK SMEs have plans to
start exporting in the next five years.
However, by trading their goods and
services internationally the typical exporting
SME added over £287,000 in revenue over the
last 12 months with one in 10 (nine percent) of
SME exporters also saying that exports had
boosted their profits by more than 20 percent.
This means that even if only the five percent
of UK SMEs looking to export in the next few
years did so, they could add £33.7 billion to
UK GDP – a six percent boost to the overall
level of exports from the UK economy in 2015.
While significant opportunities from
exporting exist, SMEs identified a number of
barriers impacting their ability to export more
with language and culture proving a persistent
problem. Language was labelled the top
barrier by SMEs looking to enter the Asia-
Pacific region (23 percent) and South America
(21 percent), and the fourth highest barrier
for Africa and the Middle East (20 percent).
Similarly, culture was named as the biggest
barrier for SMEs wanting to enter Africa and
the Middle East (24 percent).
UK SMEs have reacted to the decision to
leave the EU with a mixed response. When
asked whether Brexit would impact their
business’ ability to export, more than two fifths
(42 percent) said that it would hinder them
versus only 19 percent who said it would help
them. Just over a third (35 percent) said it
would make no difference.
The analysis also shows that the UK ranks
in the bottom five across European economies
when it comes to the share of SMEs among
exporters. worldfirst.com/uk
INSOLVENCY REVIEW COULD HAVE UNINTENDED
CONSEQUENCES FOR CREDITORS
THE Insolvency Service has published a
summary of responses to the Review of the
Corporate Insolvency Framework, prompting
fears from some quarters of the credit
community that the Government is failing
to look at the detail in favour of accepting a
majority view.
Opinions were sought in four key areas
of proposed reform: the creation of a new
moratorium period for financially distressed
companies; provision to require essential
suppliers to continue to supply to a financially
distressed company on existing terms;
creation of a ‘new restructuring plan’ – a
company rescue vehicle that would enable a
‘cram down’ of classes of dissenting creditors;
and measures to encourage ‘rescue finance’.
Two thirds of respondents who commented
on the Moratorium proposal agreed in
principle that the introduction of a preinsolvency
temporary Moratorium would
facilitate business rescue. There was similar
support for the broad objective of helping
businesses to continue trading through the
restructuring process.
There was support too for the proposal
that a restructuring plan which could be made
binding in the face of opposition by a minority
of creditors would be a valuable addition
to the insolvency framework. Stakeholders
provided a range of valuable perspectives on
how the new plan might operate in practice.
In terms of the Rescue Finance proposal,
most agreed that a lack of finance rarely
prevents the rescue of viable businesses;
the existing framework does permit rescue
financing, and there is currently a market for
rescue finance.
But Philip King, Chief Executive of the
Chartered Institute of Credit Management
(CICM), said that there was a danger that
compelling arguments for and against the
various proposals were in danger of being
ignored: “We maintain our position that a
move to a new model similar to Chapter 11 for
UK businesses heading towards insolvency
could have serious, unintended consequences
for creditors, cashflow and thousands of small
businesses within the supply chain.”
gov.uk/government/organisations/
insolvency-service
BEIS LAUNCHES SMALL BUSINESS CONSULTATION
BEIS has launched a consultation seeking the
views of businesses on regulations that will
underpin the complaints process following
publication of The Enterprise Act 2016.
The consultation requires responses by
7 December, and Philip King of the CICM
is urging members of the credit community
to submit their views and comments to
governance@cicm.com as well as engaging
with the wider debate.
“Credit professionals are at the forefront
of the late payment debate so their views on
the complaints process and the regulation
underpinning it are essential. The Prompt
Payment Code, hosted and administered
by the CICM for BEIS, continues to
play an important and successful role in
changing payment culture, and alongside
the appointment of a new Small Business
Commissioner next year, we will collectively
help to support small businesses in resolving
payment disputes and helping them to avoid
payment issues in the future.”
gov.uk/government/organisations/
department-for-business-energy-andindustrial-strategy
8 November 2016 www.cicm.com
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BENCHMARKING UK
EXPORT FINANCE
THE British Exporters Association (BExA) has
launched its seventh Annual benchmarking
of UK Export Finance entitled Driving Export
Growth in Uncertain Times.
The Annual benchmarking analysis
follows on closely from BExA’s Brexit
Manifesto and identifies a number of key
areas of Government support that require
coordinated delivery through UK Export
Finance (UKEF), Department for International
Trade (DIT), Department for Exiting the
European Union (DEEU), Department for
International Development (DfID), Foreign
and Commonwealth Office (FCO) and the
British Business Bank using all the ‘levers of
Government’.
It focuses on: a cohesive Government
strategy for Brexit – ensuring UK exporters’
needs are realised under the new trade
agreements that will be required for trading
with the EU and other export destinations;
support to SMEs; UKEF Accessibility, flexibility
and resourcing; and UKEF medium term
financing support.
BExA believes that Brexit provides
Government with a once in a lifetime
opportunity to lay new foundations for UK
export growth. Several departments will have
a role to play and those departments engaging
with exporters need to be co-ordinated
and focused on utilising this opportunity to
achieve the objectives of the National Export
Challenge. bexa.co.uk
NEWS IN BRIEF
SERIOUS FAILINGS
The Financial Conduct Authority (FCA) has
fined Sonali Bank (UK) (SBUK) £3,250,600 and
has imposed a restriction preventing it from
accepting deposits from new customers for
168 days. It has also fined the bank’s former
money laundering reporting officer (MLRO),
Steven Smith, £17,900 and prohibited him
from performing the MLRO or compliance
oversight functions at regulated firms. Despite
having previously received clear warnings
about serious weaknesses in its AML controls,
SBUK failed to maintain adequate AML
systems between 20 August 2010 and 21 July
2014. fca.org.uk
CICM IN BRIEF
This month’s briefing includes details
of the best practice event on 8
November, the quarterly regulatory
update webinar on 10 November, a
new white paper from Graydon, and a
reminder to plan your goals for 2017
with the CPD development plan.
RIMILIA APPOINTS BRIAN MORGAN AS OPS DIRECTOR
RIMILIA has made major changes to its
executive team structure with the appointment
of Brian Morgan as Operations Director.
In the new position, Brian will be
responsible for delivering business services to
many of the top companies worldwide. He
will be also accountable for contributing
to Rimilia’s overall strategy and strategic
corporate partnerships.
Brian has over 20 years of experience in
managing credit departments including debt
management, risk management, managing
risk, cash allocation and the full order to cash
process.
He is a Fellow of the Chartered Institute
of Credit Management (CICM), a Fellow of the
Chartered Management Institute (CMI) and a
Chartered Manager with CMI.
Rimilia Commercial Director Steve
Richardson says Brian is a well-known
innovator in the credit world: “Brian will help
develop our strategy, customer support
and delivery including our new collections
module.” rimilia.com
BERKLEY APPOINTED VICE
PRESIDENT OF FENCA
LEIGH Berkley, President of the Credit
Services Association (CSA), has been
elected to the Board and appointed Vice
President of the Federation of European
National Collection Associations (FENCA).
This strategic re-positioning at the top of
the CSA sees Leigh taking over the role from
the CSA’s Chief Executive, Peter Wallwork,
who has stepped down to focus on the
growing number of member initiatives the CSA
continues to deliver in the UK. It will ensure
the CSA stays centre stage in Europe, and
allow Leigh to continue his close engagement
on European matters when his Presidency
of the CSA concludes at the end of February
2017.
In his new role, Leigh will be working
closely with the new FENCA President,
Erwin Falkner, to drive the interests of the
Associations’ members at the highest level:
“My main role will be to progress Codes of
Conduct for GDPR - the EU data protection
regulation – and also the pan-European Code
for collections,” he explains.
“The principal purpose will be to promote
common standards and hopefully forestall the
EU Commission bringing forward regulation
that is to the detriment of our members.”
The appointment ensures a continuity
of the CSA Board among their peers on a
European stage, and is particularly important
coming so soon after the UK’s vote to
leave the EU: “We need to ensure that we
continue to play a leading role in promoting
and protecting our members’ interests,
particularly in light of a new Pan European
Code,” he continues.
“My appointment means I can continue
the excellent work that Peter has started,
allowing him more time to focus on issues
closer to home. As Vice President of FENCA
and hopefully as an ongoing member of the
CSA Board, I can not only continue our UK
lobbying and stakeholder engagement, but
also ensure our European interests remain
fully represented.”
Having spent three years on the FENCA
Board, Peter was thanked for his hard
work, dedication and commitment by Piotr
Badowski, Treasurer of FENCA, as well as for
his professional insight. The appointments
were announced at the FENCA World
Congress in Berlin in September.
fenca.org csa-uk.com
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www.cicm.com November 2016
9

I am saddened to report the death of Oswald
Royaards on 9 August, 2016 in The Netherlands
at the age of 81. He may not have been known
personally to many credit professionals in
the United Kingdom, but his impact upon the
credit profession throughout Europe borders
on the legendary. A credit man to the core, he
was in fact one of the co-founders of VVCM,
the Dutch credit management association,
being their Chairman for a full 13 years. He
was substantially involved in establishing
training courses in The Netherlands, leading to
their Certified Credit Manager qualification.
Beyond his home country, Oswald served
as one of the early Presidents of the Federation
of European Credit Management Associations
(FECMA), an initiative promoted by the UK in
1986 under the inspiration of Sir Roger Cork,
and he took his commitment to promoting
cross-border co-operation and understanding
seriously. So much so that he was an
enthusiastic supporter of the establishment of
a national association in Germany, BvCM. He
became BvCM Honorary Chairman, and his
legacy is undoubtedly reflected in the success
of both the Dutch and German associations.
The Netherlands owes much to his
enthusiasm and commitment, serving on
numerous committees, promoting best
practice and inspiring generations who
followed. At the Pan European Credit
Management Congress in Budapest in 2013,
I had the great honour and privilege of
presenting Oswald with the FECMA Lifetime
NEW DEPUTY
VICE-PRESIDENT
AT IPA
THE Insolvency Practitioners Association (IPA)
has appointed Lloyd Hinton FIPA of Insolve
Plus as its next Deputy Vice-President. He is
expected to become IPA President in April
2018.
Lloyd has been a member since 2001,
an IPA licence holder since 2007, is a fellow
of the Association, and is Chairman of the
Examinations and Training Committee. He
is also a member of the IPA Council and has
been progressively active in the Association’s
activities since joining the Young Professionals
Networking Committee some ten years ago,
which he went on to chair. He also sat on the
editorial board of Insolvency Practitioner and
was the Vice Chair of MSC.
Lloyd will support the work of the President
and Vice-President over the next 18 months,
drawing on his experience from firms that
specialise in helping SMEs and sole traders in
financial difficulty.
“The IPA continues to play a pivotal role
in widening the public’s knowledge and
understanding of the work of insolvency
practitioners; working with the professional
bodies that shape policy and providing
an ever-widening range of services to its
membership to raise standards,” Lloyd says.
OBITUARY
Dr Oswald Royaards CCM
Achievement Award – a sculpture by Dieter
von Levetzow, which beautifully represented
what was a life’s work. He was a gifted narrator
and his speech of thanks mixed the Dutch,
German and English languages – typical of the
man that nobody should be left out.
A nice man in a hard world – a team creator,
team leader and team player. He was what
credit management is all about and will be
sorely missed. RIP.
Glen Bullivant FCICM
The IPA continues to play
a pivotal role in widening
the public’s knowledge
and understanding of
the work of insolvency
practitioners.
NEWS IN BRIEF
RUNNING THE RISK
A new survey conducted by business insurance
provider SME Insurance (SMEi) suggests
that 34 percent of UK SMEs polled could be
uninsured for the biggest risks they face.
Of those firms that have insufficient
insurance cover, 34 percent chose cyberattacks
from a list of major risks as the biggest
threat to their business. Public liability is
ranked in second place by 28 percent of SMEs,
followed by crime at 19 percent.
When it comes to cyber-crime, 30 percent
of respondents state they would be most
vulnerable to computer viruses, while 22
percent claim data theft is the sole digital
threat. According to 15 percent of respondents,
a lack of security awareness amongst its
employees may be leaving their business
vulnerable online. smeinsurance.com
OUTDOOR PURSUIT
SHOOSMITHS has advised the sellers on the
disposal of retailer, Rohan Group, to H. Young
Holdings. Founded in 1972, Rohan provides
outdoor activity clothing, operating 55 stores
across the UK and employs over 250 full time
staff. The Group has experienced steady
growth over recent years with sales of around
£28 million. Roger Cann, Managing Director
at Rohan, says the new deal will provide the
resources for further development of the
Rohan brand: “It will also ensure the company
continues to expand and provide high quality
outdoor clothing to its loyal customer base.”
shoosmiths.co.uk
PREMIER LEAGUE
PARAGON Bank’s asset finance division,
Paragon Bank Asset Finance, has acquired
one of the UK’s asset finance brokerages,
Premier Asset Finance (Premier). The initial
consideration for the purchase is £8.5 million,
payable in cash. A further £12 million is
payable over the following five years, subject
to performance conditions. Headquartered in
Edinburgh, Premier sources in excess of £100
million of lending per annum to a range of SME
customers. Working together, Paragon Bank
Asset Finance and Premier say they will focus
on expanding their asset finance business
across a range of asset classes including
wheeled assets, plant and machinery and IT.
paragonbank.co.uk/lending/asset-finance
INITIAL PRE-PAYMENT
Bibby Financial Services (BFS) has launched
100 percent Initial Pre-payment (IP) for
commercial businesses. The initiative is
described as being available with immediate
effect on factoring, invoice discounting
and export finance facilities for qualifying
commercial businesses with turnover
between £300,000 and £5 million.
bibbyfinancialservices.com/
GROWING CIRCLES
Forums International has added Moore
Stephens as its Corporate Insolvency Partner in
support of its UK forums. Forums International
currently operates nine forums for credit
and finance professionals across a variety of
industries. The forums are designed to be a
community of peers who come together to
share experiences and work to find solutions to
common problems. forumsinternational.co.uk
10 November 2016 www.cicm.com
The recognised standard

CICM BEST PRACTICE
QUALITY ACCREDITATION BY
THE CHARTERED INSTITUTE OF
CREDIT MANAGEMENT
The 12-strong credit team at John Lewis
Partnership has now become CICMQ
re-accredited, and the assessor’s report
had no immediate recommendations for
improvement.
The business, which includes department
store John Lewis and Waitrose, became the
first retail company to achieve CICMQ
RE-ACCREDITATION FOR JOHN LEWIS
re-accreditation following its success in 2014.
Joy Randev, Manager Accounts
Receivable, explains the importance the
company places on maintaining success:
“CICMQ was one of our annual objectives
that are set by our directors,” he says, “so it is
great news to achieve re-accreditation.”
The team has also automated its
processes since the initial accreditation,
helping to improve the reporting function,
something that Joy says is hugely important:
“To become a CICMQ-accredited team you
really have to know what you’re doing, have
clear job descriptions for every team member,
and active key performance indicators and
objectives.”
GREAT
EXPECTATIONS
CICMQ re-accreditation has been awarded
to EDF Energy (UK), in what is another
example of a household-name company
seeking further business accolades.
Over the past two years, the revenue
management team has seen an internal
merger of two departments, organisational
restructure, streamlining through reduced
staffing levels and the implementation of a
new system.
But these challenges were overcome.
The credit management team has
seen continuous improvement, and its
accreditation is highly valued by the wider
business.
“The accreditation is now used in EDF
Energy’s bid process,” says Sue Chapple,
Head of Revenue Management at EDF
Energy. “It is an expectation of a number
of our customers as a standard entry
requirement into some tender processes.
“This expectation ensured we worked
hard to gain and retain the accreditation,”
she continues. “Not being a CICMQ
business is definitely not on our radar.”
MILEAGE ON
ACCREDITATION
The regional newspaper group Local
World has become CICMQ re-accredited,
following its acquisition by publishing
business Trinity Mirror.
Since its initial accreditation, the credit
team has had to manage this acquisition
and the operational challenges, while
it has also been running a nationwide
programme to forge more constructive
relations with Local World’s sales
department.
The project saw the credit team travel
in excess of 5,000 miles to present to
every sales team within Local World’s
portfolio, as Mark Mackey, Head of
Credit Management and Customer
Services explains: “It was both a logistical
challenge, literally involving planes, trains
and automobiles, and also a challenge
in some places where our role within the
business was little understood.
“We have received overwhelmingly
positive feedback from the sales division,
and that has led to positive results,” Mark
concludes.
MOTIVATING
SUCCESS
TalkTalk Business has reached a two-time
CICMQ milestone following year-on-year
performance improvement, according
to its Head of Credit and Risk Sharon
Dunlop.
“Accreditation is viewed highly within
the business, and the team works hard
every single day to succeed and improve.
“We employ clear objectives with
bonus driven targets,” she adds. “That,
together with concise communication,
is the key to running a successful credit
department.
“The team needs to fully understand
the department’s objectives and how
they are performing against these, while
stakeholders, who have a professional
and productive outlook of the team,
continue to engage with us to ensure
business support.”
With this strong team, the CICMQ
report from assessor Chris Sanders
notes TalkTalk is already planning its
award entry for the CICM’s British Credit
Awards.
Third-time accredited Siemens is in the ‘upper
quartile’ of all accredited organisations,
according to assessor Chris Sanders.
Active in over 200 countries, the global
engineering and technology company says
continuing with CICMQ is important as it
harbours extended communication with likeminded
companies, which in turn ensures
its internal processes are at the highest
standards.
Siemens is a constantly evolving business,
and Gail Armstrong, its Head of Cash
Collection Services, explains this progression
is vital within the technology sector: “This very
GOING GLOBAL
much applies to the credit department as well,
we have recently moved into a global arena,
where best-practice sharing around the globe
is deemed business as usual.”
With the understanding that the credit
function is often the first point of post-sale
contact, Gail adds that establishing solid
relationships is crucial for the longevity of
future business: “We have recently further
developed our strategic roadmap, using the
concept of Nine Mandatory Elements, which
focuses employees on improving its core
business competencies.”
This roadmap was highlighted by Chris
Sanders: “The new programme is driving
quality and performance,” he says, “and
improves efficiency demonstrating the credit
function is not standing still as continuous
improvement never stops.”
Siemens’ people and the way that they
are trained has also helped it to achieve
re-accreditation, Gail continues: “First and
foremost, credit management needs to take
care of its people, from their wellbeing to
career aspirations and training requirements.
Ensuring the processes used are lean and
seamless will ensure our customers see the
benefits.”
The recognised standard
www.cicm.com November 2016 11

ASK THE EXPERTS
UNPACKING
THE
PRE PACK
This month, the Pre Pack Pool will have been in existence for a year.
Stuart Hopewell, CICM Vice President, and David Kerr, Chief Executive
of IPA, give an independent opinion on Pre Pack administration sales
to connected parties.
12 November 2016 www.cicm.com
The recognised standard

THE Pre Pack Pool was originally set up
as part of the reforms recommended
by Teresa Graham in her report into
Pre Packs in the summer of 2014. After
endorsement by the then Business Secretary,
Vince Cable, an ‘Oversight Group’ comprising
the insolvency bodies, creditor bodies and
other stakeholders such as the Institute
of Directors (IOD) worked hard to create a
working format for the Pool.
Dr Cable wanted to be able to put a
statement to Parliament by March 2015 that
the Pool was set up, which presented the
Group with quite a challenge. In the event,
although the statement was issued on time,
the Pool couldn’t begin taking cases until
November 2015. This coincided with the
implementation date of a new Statement of
Insolvency Practice 16.
In brief, ‘connected party’ Pre Packs
(where the business is in effect sold back to
the original directors/owners) can be referred
to the Pool for an independent ‘endorsement’
(or not). This opinion will then form part of
the Insolvency Practitioners’ (IP) report, a
public document open to inspection by any
interested party, the objective being to give
some ‘comfort’ particularly to creditors that
the transaction is reasonable. Creditors can
then make a more informed judgement as to
whether to supply the ‘newco’.
While referral is purely voluntary, the
Government has retained the power to
take statutory measures within five years if
the voluntary process is deemed not to be
working.
UP AND RUNNING
Having appointed 20 reviewers principally
from the ranks of the Institute of Chartered
Accountants in England and Wales (ICAEW)
and the IOD, the Pre Pack Pool was launched
on 2 November. While it is fair to say that
the system wasn’t universally met with
enthusiasm by the ‘trade press’, once the
benefits of referral were outlined at road
shows and other events organised by ICAEW,
R3, Insolvency Practitioners Association (IPA)
and individual IP firms, the profession was
more positive.
One of the most common misconceptions
was that the Pool would in some way be
‘checking the work of the IP’, when in fact it is
for the acquiring party to make an application.
Another was that the process would be time
consuming, but the web based process and
the commitment to respond within a maximum
of 48 hours allays such fears. In fact, the
majority of cases have been handled in well
under this time frame.
A SLOW START
In its first year numbers of referrals have been
slightly disappointing, but this must be set
against the benign insolvency environment
recently with low interest rates meaning the
number of companies struggling is at an alltime
low.
When Teresa Graham’s report was
compiled she used 2010 statistics that
showed around 600 companies being
‘pre packed’, of which 63 percent were to
connected parties. Compare that number with
only 340 companies falling into administration
in total in Q2 2016.
There have been 37 cases referred to date
STAR GAZING So what is the future for the Pool? We
continue to strive to get our messages across…that
this is a fully independent body set up to give creditors’
confidence in the process. Regular articles have
appeared in Accountancy Age, Recovery Magazine,
City AM and of course Credit Management to this end.
with all but five receiving a positive response.
While not all regulators have sent in statistics,
we are confident that approximately one third
of all connected Pre Packs are coming to the
Pool. What is interesting is that the value of
deals far exceeds Teresa Graham’s stated
average transaction value of approximately
£100,000. If we ignore the ‘extremes’ (the
highest being £65 million, the lowest just
£15,000) the average to date is a shade under
£500,000.
Included in this data are companies as
diverse as a high street chain of stores (not
BHS), an offshore oil field support company,
several from the construction trade and even
an overseas entity that has a base in London
and sought a positive response from the Pool
as part of its re-structuring.
In terms of insolvency practices there has
been a fair spread of medium to large firms
acting as administrators, with 18 different
firms represented so far.
PLUS POINTS
Now that the process is established, reaction
from stakeholders is increasingly positive. In a
recent article published in Recovery Magazine,
James Hillman of Irwin Mitchell Solicitors said
‘A positive opinion from the Pool provides
a clear indication from an independent and
experienced third party that the proposed
transfer is not unreasonable’. In the same
article James Snowdon of CBW (a corporate
recovery specialist) said: ‘The fact that a
connected party’s bid had been reviewed by
the Pool provided a degree of confidence and
trust. I would suggest this was evidenced
by the unanimous support I received for my
(administration) proposal’.
Oliver Parry, Communications Director at
the IOD recently explained: “The Pre Pack
Pool is an important step in de-stigmatising
the pre-pack administration regime,
which in many cases represents by far the
best outcome for creditors of distressed
businesses. “Creditors of a business which
has undergone a pre-pack to a formerly
connected party (usually a director or
directors) will be able to draw comfort from a
positive opinion from the Pool.
“This independent view will confirm that
the Pre Pack was a genuine and necessary
attempt to rescue a terminally distressed
company, and not a strategic manipulation
of the process to benefit specific individuals
or institutions. “The IOD has been supportive
of this initiative from its original concept and
is pleased to see it in action.” In a further
endorsement, Neil Bennett of Leonard Curtis,
who chairs the IPA’s’ regulatory committee
and handled the high street chain mentioned
earlier told us: “This was one of our earliest
and largest cases where an application
was made to the Pre Pack Pool. The speed
with which the process was dealt with
helped to enable an orderly and rapid sale
of the business. Our proposals were also
subsequently approved by the major creditors,
including a substantial number of landlords.”
STAR GAZING
So what is the future for the Pool? We continue
to strive to get our messages across…that
this is a fully independent body set up to give
creditors confidence in the process. Regular
articles have appeared in Accountancy Age,
Recovery Magazine, City AM and of course
Credit Management to this end. We have been
taking the message to all corners of the UK
talking to IPs, solicitors and other members
of the business community. However, as
mentioned earlier the regime is purely voluntary
and it depends, to some extent, on IPs
complying with the Statement of Insolvency
Practice (SIP 16) requirement to make
prospective purchasers aware of the benefits of
using the Pool, but ultimately on the willingness
of those purchasers to engage and incur the
cost of a Pool application. Credit managers can
help in this by taking a stance. If credit were
only given where a Pre Pack had been referred
to the Pool, then perhaps directors would think
twice before ignoring the Pool. Indeed, it may
go against the grain to grant credit at all in a
Pre Pack situation but a positive response from
the Pool should go some way to giving the
newco some credibility.
Ultimately, however if the system is seen
not to work then the ‘reserve powers’ exist to
completely ban connected party sales (Small
Business Enterprise and Employment Act 2015)
and surely that would be a retrograde step
when Pre Packs have been shown to preserve
jobs and generate a higher bid for a failed
business than in a ‘fire sale’ (the expiry date on
this power is May 2020, so there’s time to make
it work!)
Could the remit of the Pre Pack Pool be
extended? A revised SIP 13 referring to the
disposal of assets in insolvency process (not
just a pre pack), seeks to ensure ‘transparency
in all dealings’, ‘require adequate disclosure to
creditors’ and ‘provide creditors (and others)
with sufficient information so that a reasonable
and informed third party would conclude the
transaction was appropriate’ and ‘provide
creditors with a sufficiently detailed justification
of why a sale to a connected party was
undertaken’.
As creditors are often regarded as
particularly ‘disengaged’ when it comes to
insolvency outcomes perhaps there is a role
for the Pool to represent their interest in all
connected sale situations?
WHAT LIES AHEAD?
While the Pool got off to a slow start referrals
are now gathering momentum. We firmly
believe it has a crucial role to play in changing
the perception and acceptance of the Pre Pack
process.
As the ‘strap line’ says we are there to give
creditors that independent view and confidence
that the system is not being abused.
The recognised standard
www.cicm.com November 2016 13

FROM THE CHAIR
CHAMPION
CHALLENGES
Laurie Beagle FCICM, EIICM outlines his hopes and aspirations as
the new CICM chair.
I
feel very privileged and proud to be
appointed Chair of the Chartered Institute
of Credit Management. Having joined the
CICM in 1983 and become a Fellow in 1990,
I definitely see this appointment as the pinnacle
of my career.
Firstly, I would like to introduce myself.
Having initially been a member of the Thames
Valley Branch, I moved north in 2007 and am
the current Chair of the Sheffield and District
Branch. Like many of you reading this I didn’t
start my career in credit. I was in retail, window
dressing, shipping and Accounts payable before
joining the finance team at Sperry Marine. Then
I began working in credit in the timber industry
followed by the IT sector with Digital Equipment.
Shortly after my world was shattered when
I was made redundant. At the time, however, I
didn’t realise that this would present me with
many new opportunities and I would begin
experiencing many different aspects of credit
management: business and credit information;
consultancy; and training and credit forums
which we run in the UK and Europe for various
industries.
My current position is Managing Director
of Forums International and while I may have
had many roles and titles over the years, I
am passionate about my profession, credit
management. I was on the Executive Board when
we were granted the Charter, and it made me
feel very proud to be a CICM member. This,
was in my opinion, a defining moment for the
Institute.
I see the Executive Board as a team that
works closely with the Chief Executive, Advisory
Council and the SMT at the CICM headquarters.
As Chair I see my role as being to lead and
support the team in delivering our three core
strategic objectives to ‘Engage’,‘Promote’ and
‘Support’. Having worked in many aspects of
the credit profession, and with my interaction
with credit professionals across many different
industries and geographies, I believe I will
bring to the Board experience, awareness,
professionalism and an open mind.
There is, and always will be, many challenges
and we don’t have a magic wand. But you, the
members, are vital to the future of the CICM
and this leads me firstly to a ‘big thank you’ to
all those who are involved at branch level. We
know that you all have day jobs and families,
and that being involved at branch level is
purely voluntary. What you are delivering to
the members, however, is so important. How we
maximise the branch network in the future is an
ongoing topic of discussion, and how we can
continue to add value. I hope we can share what
is working well and lend help and guidance
where further support is needed.
Two of the key areas we also need to focus
on are profitability and membership. A strong
financial infrastructure and management are
key to ensuring we have the funds to deliver
programmes and build the CICM of the future.
In terms of membership, the Charter helped
further raise our profile which not only helped
to attract new members but also support our
existing professionals. We will continue this
positive trend with various initiatives, closer
ties with appropriate colleges and educational
establishments and the apprenticeship scheme,
all of which I hope will have a positive impact in
the next 12 months.
One of our greatest challenges is always to
demonstrate just how far we have come over the
years. We need to continue to engage with the
whole membership and encourage the more
experienced members to support their younger
team colleagues to become CICM qualified and
receive the many benefits of CICM membership.
I am excited about the future as a champion of
the CICM and the credit profession. I also look
forward to working with my colleagues Pete
Whitmore, David Thornley, Sue Chapple, Glen
Bullivant and Larry Coltman.
My goal for the next two years is to serve the
membership to the best of my ability and be
actively involved in developing the CICM of
the future. Please contact me and let me have
your thoughts and opinions email: governance@
cicm.com
Laurie Beagle FCICM, EIICM
14 November 2016 www.cicm.com
The recognised standard

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The recognised standard
www.cicm.com November 2016 15

TOWN AND COUNTRY
CONCRETE
IDEALS
In the first of a new series, Sean Feast visits the credit services team at
Aggregate Industries, and has a tour around one of Europe’s largest
quarries.
IT’S 8-45am and after a journey of two hours up the
M1 I finally arrive at my destination, Bardon Hill
in Leicestershire. The large Aggregate Industries
signs are complemented by much smaller ones
asking you to reverse park. It’s a safety thing. Indeed,
the first thing you learn about Aggregate Industries is
their passion for safety.
I’m visiting Phil Rice FCICM and his 30-strong
team at the shared services centre (SSC). Theirs
is a modern building with the people sub-divided
into further specialist teams based on regions and
discipline. Having just achieved CICMQ accreditation
for the fourth time, and recently becoming a Chartered
Institute of Credit Management Centre of Excellence,
Phil is justifiably proud of his employees, and their
close association with the Institute.
Every one of his department is a CICM member
and nearly all are qualified or currently studying. The
youngest member is Bradley Abbot, the first CICM
Trailblazer apprentice. Although he looks terrifyingly
young (he should, given that he is only 16), he already
possesses a calm assurance and confidence that is a
feature of the SSC.
MORNING HUDDLE
I arrive in time for the morning ‘huddle’, the individual
team leaders reviewing the principle activities of the
day. It gives me a chance to see the office in action,
as Phil talks me through what the department is
responsible for. It’s a long list: opening new accounts;
allocating cash; collecting overdues and due debt; and
managing risk.
Crucially, Phil explains, they work very closely with
the commercial colleagues: “It used to take two weeks
to open a new account,” he says, “and today we can do
it in a day.”
The credit services team not only assists in
generating new business; it also plays an essential role
Our adage is that we never say ‘no’.
We will always find a way of doing business
and finding a trading solution that is good
for us and good for our customers.
in re-generating dormant accounts, and has created a
dedicated ‘reactivation’ team delivering tangible results
running into millions of pounds.
“Our adage is that we never say ‘no’. We will always
find a way of doing business and finding a trading
solution that is good for us and good for our customers.”
Customers range from white van man to
multinational corporations, with credit limits of between
£5,000 and £25 million. The team handles huge numbers
of inbound/outbound calls – something in the region of
250,000 each year – confirming Phil’s view that credit
managers are first and foremost customer services
people.
Some of the numbers are mightily impressive: 98
percent of those calls were handled by just 13 staff.
The wider team manage upwards of 50,000 invoices
every week - taking payment by cheques, BACS, credit
cards and the American Express AMEX AP scheme. For
their work with the latter, they won Project of the Year
in the CICM British Credit Awards 2016. They resolve
thousands of customer queries and juggle tens of
thousands of pieces of paper: “The construction industry
still likes a paper trail,” Phil laughs.
ELEVATED STATUS
Since Phil joined the business in 2009, he has sought
to elevate the team’s status among his peers, and is
delighted with the support he receives from the CFO
and Vice President of Finance, both of whom are strong
advocates of continual learning. He has made simple
changes to further enhance customer service, including
extended opening hours (which includes Saturday
mornings) and agreed SLAs for both their internal
and external stakeholders. He has also introduced a
customer portal, enabling customers to make payments
remotely.
As well as the specific business improvements, Phil
has also introduced a sense of fun and camaraderie
within the team that is instantly apparent. A fiercely
contested table football competition, live music at
lunchtime and regular exceptional achievers’ awards
(and the largest silver trophy I have ever seen outside
of professional sport) are just three examples. They
also recently had a visit from Tim Lodge, a Paralympian
rower, as an example of triumph over adversity.
16 November 2016 www.cicm.com
The recognised standard

FRONT
COVER
FEATURE
With the first part of my tour completed, Phil
presents me with a box of personal protection clothing,
comprising an orange high-viz jacket and trousers,
steel-capped boots, hard hat, eye protectors and gloves.
I look for all the world like I am about to step foot on an
oil rig or the set of a disaster movie. Happily, it is less
dramatic, and I am introduced to Steve Harle, the Works
Manager.
Steve is a Geordie, although his accent is now
somewhat softened by years of working overseas and
‘down south’. We clamber aboard his Ford truck to
drive the short distance to the quarry, climbing high
into the hills to a viewing platform to look down upon
what can only be described as the biggest hole in the
ground I’ve ever seen.
A THING OF BEAUTY
To Steve, it’s a thing of beauty. Its sides are stepped, and
along those steps (or ‘benches’ as they are known) a
small convoy of fully-loaded dumper trucks make their
way slowly to an areas known as the surge pile, and
an early stage of how the granite is treated. There has
already been some sorting completed on the quarry
floor, with rocks of a particular size picked individually
and placed in a wagon. In other cases, mighty diggers
scoop great bin loads of granite, filling each truck to
capacity, their weight blinking at us in red numbers on
the side of the cab. Each can carry the better part of 100
tonnes. From up high, the trucks look for all the world
like Tonka toys. When we get close, however, their
enormous size is almost difficult to conceive. Especially
when Steve tells me that those huge tyres can still
puncture.
Steve’s not happy. Bunching the trucks too closely
together impacts the flow of granite to the surge, and
means one truck has to wait while the other unloads. It’s
not efficient, and he’ll have a word.
To say that the site is busy would be an
understatement. They are currently at level 15 and
they will reach Level 20 by 2019 and the quarry will
close. It is shaped in a cone to ensure the integrity of
the site, and the base is getting progressively smaller.
All around us are vehicles of every shape and size
including water bowsers to deal with the dust. There
are no fewer than 600 vehicle movements a day. Of the
three million tonnes of granite quarried each year, at
least one million tonnes leave by train; the quarry has
its own railway siding and up to four train loads are
despatched every day.
Accreditation is not only great
kudos for the company, but is
also recognition of the individual
contribution made by every
member of the team.
The process is bewildering: drill rigs dig holes
where the surveyors tell them to and into which the
explosive charges are set. Typically, they will charge
and fire twice a week, each explosion bringing
between 20 – 40,000 tonnes of rock for the sorting to
begin. More than 15,000 tonnes are brought out every
day.
PRIMARY CRUSHER
From the surge pile, rocks go to the primary crusher
which is like a huge mortar and pestle. Depending on
the size of the product required (200mm, 75mm, 20mm
etc), the granite is then sent through a secondary and
then a tertiary crusher. Recently they installed a new
line that washes the stone, and turns product that might
have previously been sold off cheap into something that
commands a higher premium. It has more than paid for
itself already.
“If we mine a tonne then we want to sell a tonne,”
Steve says. “That is our mantra and currently we sell
more than 99 percent of what we quarry. We produce up
to 12 different products but actually sell some 256. This
is because our customers have special orders where we
need to wash and mix to achieve a specific blend that
they are looking for.”
continues on page 18 >
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www.cicm.com November 2016
17

TOWN AND COUNTRY
continued from page 17
>
Applications for the products vary considerably.
Aggregate Industries has recently provided the Asphalt
being used to resurface the runway at East Midlands
Airport. Its products can also be found at The Olympic
Park (all delivered by ship and train and barge) and
the Kelpies in Scotland, and the concrete pour for
The Shard also has the Aggregate Industries’ seal of
approval....they supplied the ready mixed concrete.
As well as Asphalt and Aggregates, the company
also provides concrete products (used for curbing,
staircases and railway station platforms etc), ready
mixed concrete, sand and gravel, specialist sands
(the sort used for sports pitches and water filtration),
rock armour (‘gabions’), track ballast, and every point
in-between, including quality decorative stone and
roofing tiles. Nothing is wasted. They also have a large
road surfacing operation that is involved in Motorway
and Highway projects and airport runways and large
carparks.
From the bottom of the quarry we follow one of the
huge dumper trucks back to the surface. Steve takes
care not to get too close; rocks have been known to fall
off. We head for the control room, a comparatively small
hut from where the whole site is monitored. Outside is
a small convoy of Land Rovers - they seem to be our
constant companion. Inside is a bewildering array of
screens and displays that tell us that all is well and that
the plant is performing to its optimum capacity.
CICMQ ACCREDITATION
Steve drives us back to the main office and bids us
farewell. But the day is far from over. Glen Bullivant
FCICM, a CICM Vice President, has arrived, wearing
a typically understated tie. It is the hallmark of all
distinguished gentlemen, I am led to believe, and
something that I will no doubt aspire to in the future.
Glen is here for the serious business, to present
the CICMQ accreditation to Phil and his team who are
SAFETY FIRST: Sean Feast and Phil Rice FCICM.
understandably delighted. “Since becoming one of the
first to achieve CICMQ, we have never looked back, and
the senior management has been extremely supportive
throughout,” Phil tells me. Glen congratulates everyone
present: “Accreditation is not only great kudos for
the company, but is also recognition of the individual
contribution made by every member of the team,” he
says. “Getting better never stops,” he adds.
With the formalities completed, it’s time for a
celebratory lunch and orange juice laid on by the
Aggregate Industries’ catering team before it is at last
the hour for me to depart back to London. It has been a
welcome day of discovery, of getting to know Phil and
his team, understanding more about their achievements,
and the workings of one of the country’s largest
quarries. And of dressing up.
If we mine a tonne then we want to sell a tonne. That is
our mantra and currently we sell more than 99 percent
of what we quarry. We produce up to 12 different
products but actually sell some 256.
18 November 2016 www.cicm.com
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The recognised standard
www.cicm.com November 2016 19

OPINION
RABBIT IN THE
HEADLIGHTS
Frank Whitworth continues the series with a second Day in the Life of an HCEO
article, including on incident where a shotgun was waved in his face.
20 November 2016 www.cicm.com
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Back in the 80s my car was kept full of coins, with any
acquired small change always being allocated to the
ashtray for those telephone emergencies. I quickly
learned the location of just about every telephone box
within 25 miles.
WE all know how infuriating it is
when we get into the car to go on
a journey, trying to set the satellite
navigation and it won’t let you
because it doesn’t recognise the address or
the postcode you are trying to input. Can you
imagine the world of enforcement before the
Sat Nav or worse, the mobile phone?
Back in the 80s my car was kept full of
coins, with any acquired small change always
being allocated to the ashtray for those
telephone emergencies. I quickly learned
the location of just about every telephone
box within 25 miles. You could do that then
because the country was divided up into
‘bailiwicks’. Each Sheriff’s Officer had his own
bailiwick and pretty much knew every serial
defendant in the area on a first name basis.
By the mid 80s British Telecom had
invented the phone card, which meant the
ashtray became redundant. These cards were
only available in fixed denominations. The
problem was they could not be topped up
and there was no way of knowing how many
units were still left on a card. This resulted in
many telephone calls ending abruptly, without
notice, and subsequently the ash tray was reemployed
as a phone card tray instead.
We arrived with the
documents at the farm
gate only to be told that
the gun, which was being
pointed right at my chest,
was loaded and that in
his opinion a bailiff was
no different to a rabbit!
One day I set off with a writ to enforce
where the address given was just a house
name and an area and, of course, no
postcode. This was a common occurrence, so
I headed straight to the local post office who
obliged with brief directions referring to the
property being at the ‘back of beyond’ several
miles up a little known track. Although this
was very useful I quickly became confused
and needless to say, very lost.
My second course of action was to ask
anyone who happened to be about, if they
knew the property. As usual, no one had ever
heard of the place. That was until I asked a
little old lady carrying a weighty shopping
bag, who said she knew of the house and was
going that way and would welcome a lift. So in
she jumped and off we went.
Enforcing a writ usually meant making the
best use of the element of surprise in the days
and hours before the notice of enforcement.
“What name might you be looking for,”
asked the lady as we bumped down the road
normally frequented by the local dairy herd.
“You will be needing that property just over
there and you can drop me off outside.” I
sheepishly obliged realising there was only
one dwelling at our chosen destination, and
my cover was well and truly blown.
Do I wait until she has gone inside and
then knock on the door or do I identify myself
whilst she is still in the car?
“Thank you for the lift young man. We don’t
get many visitors in these parts. You better
come in, we have been expecting you!” An
hour later I left the ‘back of beyond’ with the
contents of a rusty tin containing crumpled
five pound notes.
They say you never forget staring down the
barrel of a shot gun. I certainly don’t.
This defendant was being evicted from his
house, where he had lived his entire life, to
make room for the M62 motorway.
We arrived with the documents at the farm
gate only to be told that the gun, which was
being pointed right at my chest, was loaded
and that in his opinion a bailiff was no different
to a rabbit!
It is no surprise that we did not proceed
on that occasion. However, we had a job to
do and gun or no gun we had to find a way of
getting possession.
The heavy machinery was already in use
just a few hundred yards away from the house
and we were under pressure to get the job
done without delay. The most obvious course
of action would be to go straight to the police
and have the man arrested. But the defendant
would still have to come back to clear out
the farm contents, including all the sheep. He
could not do that if he was in jail.
I visited all the neighbouring properties
and learned the defendant, who was in his
seventies, had inherited the farm some 30
years earlier and only ever went out to visit
the local auction mart every fortnight. I also
learned that he had lived there his entire life
and had no family.
Somehow I had to find a way of getting to
actually speak with the man and not the man
with the gun. So I turned up on my own with
only my faithful golden retriever for company,
one evening in my walking boots and woolly
hat, praying that he would not recognise me
as one of the crowd wearing suits from the
previous visit.
A public bridal way crossed part of the
land and it wasn’t long before I spotted the
defendant who warned me to keep my dog on
the lead so as not to bother his sheep. I asked
him if he was the man I had read about in the
local paper. He said he didn’t know because
he did not read the paper. I asked him where
he was going to move to and he just shrugged
his shoulders. It turned out that he could not
read. No one had bothered to actually visit
the man before. All the paperwork had gone
unread and now he was a frightened old man
trying to defend his territory.
For the next three hours I sat in his kitchen
drinking tea and just chatting. He had no idea
that he was entitled to proper compensation
for the compulsory purchase of his farm and
land and also for the farming business.
Once he realised, he was quite content to
move out. The farm had no central heating or
modern appliances and hadn’t made much
money the entire time he had been there. He
was also very lonely.
Three weeks later he moved into a new
bungalow in the village, less than a mile from
the auction mart and my job was done.
The recognised standard www.cicm.com November 2016
21

OPINION
THE FUTURE OF
TECHNOLOGY?
Is Software as a Service (SaaS) just a new buzzword, the latest trend only to be replaced with
the next big thing – or is it the future? Steve Richardson delves deeper.
TO examine this, we need only look
at the way IT Systems/solutions
used to be delivered in a time when
organisations had large IT development
teams principally because there was no real
alternative.
This would usually start with the
annual budgeting round where functional
departments had to provide outline
requirements to the IT Department for projects
they wanted to be undertaken to deliver some
kind of system and functionality to aid their
business process.
These would all be costed up and then
would compete against all the other wish list
of projects across the organisation on the
basis of their business case – just like rock,
paper, scissors a shortlist process would be
undertaken, as a rule of thumb: reduction
in costs beats increased sales; sales
beats customer satisfaction; and
customer satisfaction and
retention beats costs.
Therefore, anything that was back office
business process related which didn’t result in
a significant cost saving rarely got approved
unless it was considered strategic like
replacing the Accounting and ERP system.
However, if a project did get approved then
the development process would begin.
Typically, the team of analysts and developers
assigned to the project would have no
detailed knowledge or understanding of the
specific business area. As the Project Sponsor
you would be expected to assign staff from
your team to be involved in the project all
the way through thus reducing your team’s
capability in the short-term and the project
would take anywhere between nine to 18
months to complete.
Along the way, the project would get
re-scoped to avoid overrunning against the
budgeted cost and while some of the key
functionality was removed from scope there
was an expectation that even more savings
and benefits could be made. Depending on
SaaS solutions will usually be highly
configurable, the trend is away from out
and out customisation not only due to
the expense but also the constraint
on being able to take the latest
innovative update quickly and
without major rework.
the size of the project you would have been
introduced to the concept of phasing, which
basically meant you will get Phase one, you
may get Phase two, anything after that could
be pretty much forgotten.
Finally, the project would deliver a system
that had inbuilt ‘GUTI’ appeal (get used to it)
or as we like to say in the technology world
‘features’.
IN-HOUSE SUPPORT
The system would then be handed over to
the in-house support team and, like with any
fast moving business, any expertise gained
in developing the new application is lost, as
those involved move onto their next project
– IT developers generally like developing
new applications rather than maintaining
existing ones. Therefore, enhancements that
improve the application get overlooked and
its benefits decrease. Over a short period
of time, a number of system workarounds
become commonplace until the system is
made redundant, replaced with another freshly
developed solution, or generically replaced
with the standard workings of a new ERP
system.
22 November 2016 www.cicm.com
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CONSIDER THEREFORE
SAAS SOLUTIONS THAT ARE
PROVIDED ALL INCLUSIVE:
• Software Licence
• Activity based transparent pricing
• Hardware and infrastructure
• Project management
• Support staff
• No hidden costs
• No extortionate consultancy fees
SaaS solutions were born
out of the changing way
that IT departments are
structured. Keeping up
with the fast paced and
changing landscape of
solutions and technology
has become very difficult
for organisations that
wish to cover all business
requirements using inhouse
development teams.
THE BIRTH OF SAAS
SaaS solutions were born out of the changing
way that IT departments are structured.
Keeping up with the fast paced and changing
landscape of solutions and technology has
become very difficult for organisations that
wish to cover all business requirements
using in-house development teams. Where
these teams exist (a lot of organisations
have outsourced this scarce and expensive
resource) they are focussed on the core
functions of the business, generally those
that maintain their competitive edge such as
operational systems and sales portals. This
has enabled a new breed of providers to be
created who specialise in functional areas –
AR, AP, HR, Finance – and are able to provide
a very rich and deep functionality that was
previously out of the realms of possibility with
any in-house development team. Furthermore,
unlike the in-house team that quickly moves
onto the next project, it is absolutely in
the SaaS providers’ interest to continually
innovate, adapt and enhance their product and
service offerings to keep customers engaged
and the benefits flowing. They are therefore
able to maintain and grow a team around their
products to provide the support required and
to deliver those enhancements.
VALUE FOR MONEY
The move towards more standardised business
processes has also enabled the cost of these
solutions to become much more affordable.
In the days of in-house development, the
typical cost of a system was in the hundreds
of thousands with payback typically within
two years if you were lucky. Those systems
also came without a guarantee of working or
to deliver benefits, and the margin between
success and failure was very thin.
SAAS V STANDARDISATION
SaaS solutions are proven and have clients
that can provide testimony of benefits
delivered. Solutions are quick to implement,
typically six to ten weeks, and ultimately if
the solution does not deliver as expected
there is always the option to walk away at a
fraction of the cost of an in-house or customer
development system gone wrong. SaaS does
not necessarily mean standard, however.
Solutions are usually highly configurable,
and the trend is away from out and out
customisation due to expense and constraints
on being able to take the latest update quickly
and without major rework. Business process
optimisation is generally what the SaaS
solution will have, therefore being prepared
to change your business process is key to
achieving the benefits.
HIGHLY INTUITIVE APPLICATIONS
SaaS solutions have evolved to be highly
intuitive such that they do not require
extensive training manuals – not many people
had lessons on how to use the Internet for
example. There are certain protocols and
standards that are built into the applications
which as users of technology we have
become accustomed to (anecdotally – the
windows game of Solitaire was principally
designed to enable players to get used to
using the mouse!)
The recognised standard
www.cicm.com November 2016 23

SOAPBOX CHALLENGE
INVOLUNTARY ACTION
A credit control manager, based in Belfast, needs convincing
about the effectiveness of IVAs.
SOAPBOX
challenge
A
person with multiple debts and an
inability to pay them couldn’t fail
to be seduced by the plethora of
advertisements for a solution that
promises to make them debt free within five
years. But just how successful are Individual
Voluntary Arrangements (IVAs) and do they
offer any benefit to the small unsecured
creditor?
As an unsecured trade creditor I will share
with you my recent experiences. In one month
our company received Annual Reports for
three IVAs with the same Supervisor from a
major firm of Insolvency Practitioners.
In the first report received, the debtors’
monthly contributions in the interlocking IVAs
are up to date but ‘the debtors have failed
to comply with my request for an updated
income and expenditure account and are
hereby notified of the fact that they are in
breach of the terms of the arrangements’. This
happened the previous year and I do not know
My experience with IVAs would also suggest that the
smaller unsecured creditor has no influence on the
outcome of proposals anyway as the major creditors
(that is to say the bank, mortgage provider, credit card
company etc) vote in favour in the majority of cases. We
end up tied into an agreement and are prevented from
taking further action to collect our debt.
if the information was ever received.
The second report related to a case where
a one-off lump sum payment was to be made
to the arrangement. The report states that:
‘Funds in the sum of £25,000 were due to be
realised for the benefit of creditors in June
2015. These funds have yet to be received.
The matter is currently being addressed’.
Over a year has passed and the issue still not
addressed.
The third report shows that the arrears in
monthly contributions, already five months
behind in 2015, have doubled since last year.
Again: ‘The Supervisor is currently in the
process of requesting the required information
to conduct an income and expenditure
review’. Why bother I ask myself? The
arrangement has clearly failed.
It seems obvious to me that the
Supervisor’s persistence with these cases is
solely to protect his firm’s fees. My experience
with IVAs would also suggest that the smaller
unsecured creditor has no influence on the
outcome of proposals anyway as the major
creditors (that is to say the bank, mortgage
provider, credit card company etc) vote in
favour in the majority of cases. We end up tied
into an agreement and are prevented from
taking further action to collect our debt.
Am I alone in feeling cynical about the
role of the Insolvency Practitioner? Do other
readers share my frustrations? If you do, then
I’d love to hear from you through the editor.
24 November 2016 www.cicm.com
The recognised standard

COUNTRY FOCUS
Shivering
BEAR
‘The bear is feeling cold right now’, so say the world’s
economists. Adam Bernstein takes a closer look at
what’s causing Russia’s current malaise.
continues on page 26 >
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www.cicm.com November 2016 25

COUNTRY FOCUS
THE Russian economy is suffering following
its March 2014 annexation of the Crimea, it’s
ongoing involvement in Ukraine (which the
country denies) and the remarkable drop in
the price of oil. While Forbes has since 2008 named
Moscow the ‘billionaire capital of the world’ its wealth
is diminishing and the economy is in recession. Even
its Finance Minister, Anton Siluanov, recognised as
much when he spoke in November 2015: “Next year
will not be simple,’’ he said in an interview with Russian
state television, adding, “the latest predictions show
that the price of our main exports could be lower than
predicted.”
However, the situation in 2016 while not great hasn’t
been quite so bad.
Yes, the growth potential for Russia is not good and
its GDP has slowed every year since 2010 – it grew 0.7
percent in 2014 and shrank by 3.7 percent in 2015. The
figures for 2016 are looking a little rosier. As Focuseconomics
noted in August (2016), while the economy
contracted 1.2 percent in Q1, the downturn was softer
than expected and more recent data shows that parts of
the economy are gradually leaving the recession behind.
Further, an increase in the oil price from Q1 to Q2
have supported a gradual improvement in the Russian
industrial sector.
So where is Russia now and how can firms still export
to, and do business, with the country?
OVERVIEW
Russia is a market that cannot be ignored. It has 144
million people, spans nine time zones and is the largest
country in the world with a landmass of 17 million square
miles – one ninth of the global total. It was, in April 2016
at least, the world’s 14th largest economy by Gross
Domestic Product (GDP) according to the International
Monetary Fund. It’s also number 51 in the World Bank’s
Ease of Doing Business ranking (latest figures June
2015) and is making progress in meeting President
Putin’s target of reaching 20th position by 2018. Not bad
considering that Russia started from 123rd in 2011(out of
185 where Chad now sits).
As might be expected, Russia’s overseas forays have
led to sanctions and an impact on trade. But despite
the European Union’s (EU) restrictive measures, which
are highly targeted, there are still many opportunities
for firms to do business in Russia. Indeed, the country
is investing and modernising, and this is providing
opportunities – it’s looking for foreign investment,
expertise, technology and resources.
But as the US Government notes: ‘Its seriously
underdeveloped infrastructure poses challenges,
especially in accessing markets outside of major
cities. Conducting business might be impeded by
burdensome regulatory regimes; widespread corruption
and inadequate rule of law; inconsistent application
of laws and regulations; lack of transparency; and a
non-level playing field for competition due to the
continued presence of large state-owned, or statecontrolled,
enterprises dominating strategic sectors of
the economy.’
But looking positively, there is, according to the
UK Government, a desire of Russian companies to use
international accounting and legal standards, a respect
for brands including retail and luxury, and an anticipated
increase in the number of Russian mid- and small-sized
businesses. The Russian market has a young and well
educated workforce;strong transport links and logistics
in many, but not all places; and offers access to supply
chains that could lead to exports to other markets in the
26 November 2016 www.cicm.com
The recognised standard

But looking positively, there is,
according to the UK Government,
a desire of Russian companies
to use international accounting
and legal standards, a respect for
brands including retail and luxury,
and an anticipated increase in the
number of Russian mid- and smallsized
businesses.
Commonwealth of Independent States that were once
part of the Soviet Union.
So while Russia has the smallest population of the
BRIC (Brazil, Russia, India and China) economies, in per
capita terms, it’s the wealthiest by a considerable margin
($14,611 in 2013) and it has a large and growing middle
class of discerning consumers.
TRADING PLACES
Setting up in Russia opens doors to the fledgling
Eurasian Economic Union. A former customs union
set up between Russia, Kazakhstan and Belarus, it now
includes Armenia and also Kyrgyzstan. The organisation
is aiming for free movement of goods, services, capital
and labour.
Russia is also now a full member of the World Trade
Organisation (WTO) and has committed to change
its customs duty rates to permit access to the Russian
services market; apply recognised food safety and
animal and plant health measures; simplify import
licensing procedures; andfurther protect intellectual
property.
MARKET OPPORTUNITIES
There are a number of sectors that overseas companies
can exploit that include engineering, mining, biotech
and pharmaceuticals, consumer goods, education,
energy, tourism, telecoms, finance and legal and the
World Cup in 2018.
Some estimates believe that, as might be expected
of a former communist state, more than 70 percent of
existing capital assets are in need of modernisation. This
means opportunities for energy efficient manufacturing
technologies, machine tools, spare parts and
components and advanced materials for manufacturing
and assembly.
MINING AND MANUFACTURING
Russia is known to have one of the largest reserves of
metals, ferrous and non-ferrous, in the world. With a
high level of domestic integration, from extraction to
processing, there is demand for machinery, consultancy
and help with environmental improvements to the
industry.
Russian heavy industry is in need of updating its
manufacturing technologies and equipment. The annual
market demand for new metal-machining equipment is
estimated at over $1.5 billion.
PHARMACEUTICALS
Pharmaceuticals in Russia is reported to be worth
some $18 billion a year and the country has a
strategy – Pharma 2020 – which has as its aim drug
development and greater domestic manufacturing.
Indeed, DSM Group, one of Russia’s analyst agencies
in the pharmaceutical sector, reckons that in 2015 the
Russian pharmaceutical market grew by almost 12
percent. The sector is looking for help with research and
development and the manufacture of active ingredients.
CONSUMER GOODS
Consumer goods was worth $597 billion in 2013, although
that figure may have declined since the introduction
of sanctions following Russia’s overseas excursions.
Opportunities exist for premium alcoholic and nonalcoholic
drinks, high quality confectionary,organic,
natural, gluten free food,and fashion and high-end and
luxury products including vehicles.
ENERGY
Energy is a major part of the Russian economy, and one
of the reason’s the overall economy suffering presently.
Its oil and gas market is 25 percent of GDP, 50 percent
of federal revenues, is valued at $50 billion a year and is
predicted to grow in size (but not necessarily turnover
until the price of oil rises). Sanctions imposed following
the Crimean annexation aren’t universal and only apply to
equipment and services suitable for use in oil exploration
or production in waters deeper than 150 million in the
offshore area north of the Arctic Circle and shale fracking.
It’s worth noting that Russia’s energy policy (says the
Moscow Times) of pumping 10.6 million barrels of oil a
day is nearly four billion barrels annually further Russia
has proven oil reserves 100 billion barrels. This means
there are opportunities for UK companies in conventional
oil and gas fields, construction of LNG plants, and
downstream oil-refining facilities.
However, as a note of caution, Russian oil and gas
companies are aiming to use more local equipment
in their operations and may well substitute away from
foreign suppliers. This may be enforced by law and
Russian standards.
The state atomic energy corporation, Rosatom is
currently exploiting its position as a world leader and
has orders for more than 80 stations worldwide – the
Russian Times has reported that Rosatom had foreign
orders worth $110 billion in 2015. Foreign firms may be
able to establish a relationship with Rosatom and also the
decommissioning sector.
Renewables is presently small in Russia, but interest
is growing with concomitant opportunities to supply
equipment and expertise.
JSC Rossetti is the largest electricity distribution and
transmission grid company in Russia and it’s working with
foreign energy companies to modernise. It’s presently
looking for new technologies such as automated control
systems,smart grids, and systems to improve control and
operation.
The recognised standard
www.cicm.com November 2016
27

www.portfoliocreditcontrol.com
oc
re o
THE
CREDIT CONTROL
RECRUITMENT
SPECIALISTS
We know Credit Control and we also understand
what makes agood Credit Controller and the
correct skills to succeed in this industry.
If you are planning to recruit on atemporary
or permanent basis please get in touch with the
Credit Control recruitment specialists on
0207 650 3199
OR CONTACT US AT
recruitment@portfoliocreditcontrol.com
We look forward tohearing from you.
www. portfoliocreditcontrol.com
28 November 2016 www.cicm.com
The recognised standard

TRADE TALK
GLOBALISATION –
A GREATER GOOD?
Does globalisation harm developing countries? Lesley Batchelor OBE believes openness
to international markets spurs innovation and investment.
THERE has been much stated about
the pros and cons of globalisation.
Critics include groups such as
environmentalists, anti-poverty
campaigners and surprisingly, trade unionists.
They claim that globalisation helps the
richest countries to continue to dominate
world trade at the expense of developing
countries. The role of Least Economically
Developed Countries (LEDC) in the world
market is mostly to provide the north and west
with cheap labour and raw materials.
Proponents of globalisation point to the
number of people globally who have benefited
from it. According to the World Bank,
between 1981 and 2010 we witnessed the
single greatest decrease in material human
deprivation in history. At a time when the
population of the developing world increased
by almost 60 percent, the number of those in
extreme poverty (subsisting on less than $1.25
per day) has dropped from around 50 percent
to around 20 percent.
There are no guarantees that the wealth
from inward investment will be used to benefit
a local community. Profits are invariably sent
back to the More Economically Developed
Countries (MEDC) where the Transnational
Companies (TNCs) are based. Economies
of scale that TNCs can use often drive local
companies out of business, however the
transitory nature of a TNC is that if it becomes
cheaper to manufacture elsewhere it will close
the operation with the resultant job losses.
Likewise, the TNC home country may lose
out in the job market to a LEDC thus creating
an imbalance in both trade and social mobility.
Removing barriers
Globalisation has been happening for
centuries, however it has accelerated
over the last 50 years mainly due to the
rate of innovation in communication and
transportation technologies. Movement
of goods, people and services has never
been easier and that in turn is bringing more
questions about the need to trade and how
to govern its growth. Freedom to trade is the
cornerstone on which organisations like the
World Trade Organisation (WTO) is founded,
promoting free trade between 164 countries
who are all committed to removing barriers
between them.
The biggest companies are no longer
national but multi-national corporations with
subsidiaries in many countries, becoming
TNCs. Although globalisation is probably
helping to create more wealth in developing
countries – it is not helping to close the gap
between the world’s poorest countries and the
world’s richest. Unsurprisingly, the majority of
TNCs are based in the US and UK.
Factors attracting TNCs to a country
include cheap raw materials and labour
supply, good transport links and infrastructure
and access to markets where the goods are
sold. These factors can be seen in many
emerging markets and are often linked to the
rising middle classes in these markets. With
hundreds of millions of people estimated
to join the middle classes in Africa, South
America, China and India, the opportunities
are very tempting for British and American
companies.
Economic Integration
Given the sheer number of people that have
been lifted out of absolute poverty and
especially now, when our own economy is
beginning to feel so fragile and vulnerable, can
we afford to start worrying about the impacts
of globalisation at this stage?
Are we not just part of a moving system
of civilisation that sees cultures, empires
and regimes ebb and fall? Of course, if that
was simply the case this would all be quite
straight forward, however the next stage of
globalisation begins skewing market forces
that can take their toll as internationalisation
steps in.
So ‘drawbridge up versus drawbridge
down’, as The Economist recently wrote.
The fact is, along with boosting our country’s
economic resilience and addressing global
challenges such as climate change, promoting
economic integration is one of our three
strategic priorities.
Surely economic integration can be a
powerful force promoting efficient markets
and reform. We have seen that globalisation
increases competition in product markets,
it widens the range of financing sources
available for investment, it allows countries
to opt into institutional arrangements of a
higher standard and it imposes strict discipline
on governance, legal, regulatory and other
institutions.
Openness to international markets,
globalisation if you will, also spurs investment
and innovation within businesses and
economies as a whole. Economic integration,
and through it globalisation, empowers
entrepreneurs and consumers alike. They also
create new incentives and opportunities for
everybody involved in a modern economy.
So let’s support integration through
cross-border financial flows and investment,
trade finance, infrastructure, improved skills
and standards in SMEs, policy dialogue and
partnerships with institutional investors. This
may not be the best time to change the plan.
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www.cicm.com November 2016 29

INTERNATIONAL
TRADE
MONTHLY ROUND-UP OF THE LATEST STORIES
IN GLOBAL TRADE BY ANDREA KIRKBY.
SHIPPING THROUGH
THE WINTER FOG
AS the days grow shorter I’m reminded
of that distressingly dour character in
Game of Thrones who keeps saying
‘winter is coming’. I’m afraid it is,
economically speaking.
It’s worrying that shipping is still
doing so badly. The Baltic Dry Index, my
favourite lead indicator, has just turned down
after a good run. That may not be a long
term trend, but more worrying is the fact that
container shipper Hanjin has
gone bust. That partly reflects overinvestment
by shipping companies in huge
new container ships, but it also reflects the
fact that global growth simply hasn’t been
fast enough to fill them. (Exporters may well
find they have cargoes stuck on board; since
Hanjin can’t pay its bills, few ports are letting
its ships dock.)
Euler Hermes says not only is the world
seeing lower growth, it’s also seeing higher
risks. That’s a toxic mixture. We already know
about the potential for trouble in China, and
the low oil price, and Brexit; but Italian banks,
the Turkish political situation, and Trump,
together with 2017 elections in France and
Germany, all pose further risks – as well as
the possibility of another Greek bailout being
needed.
Atradius is also downbeat, saying that
the decline in insolvencies in developed
markets has now stalled, and in some
cases, we’re seeing increased bankruptcies.
It’s particularly worried about Norway and
Australia – both heavily dependent on
commodities – and Greece, and points out
that in many countries, insolvencies are still
way above pre credit crunch levels.
Sometimes a picture is worth a
thousand words. When I look at Atradius’
chart, I notice something rather depressing;
there are far more countries in the
‘deteriorating’ row and ‘high risk’ column than
there are in ‘stable’ or ‘low risk’. That’s not a
trend I like.
Robust risk management needed, says
Atradius. But robust credit management is
vital too, I think!
WE’RE NOT IN KANSAS ANY MORE...
THE lesson about having local ‘boots on the
ground’ is born out by the story of Landia
mixers. A Kansas wastewater plant rejected
Landia’s offer of full maintenance services,
instead using a local mechanic. When Landia
learned three of its submersible mixers were
being replaced, it asked why – and quickly
found out the maintenance had been poorly
carried out using sub-standard generic parts.
Landia took back and completely
refurbished two of the failing mixers – and
has seen off a threat to its business.
The other lesson to be learned, I
suppose, it that’s it’s not over once you
get the sale – you’ve got to support your
product and your brand. And, of course,
you’ve got to get paid – but we knew that
already!
30 November 2016 www.cicm.com
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MOODY’S WOEFUL PROPHECY
MOODY’S has done its own work on Brexit
and it’s worried. If the UK doesn’t keep single
market access, the ratings agency says, the
credit rating will have to be downgraded
again (Moody’s already cut the rating to Aa1
negative immediately after the referendum
result). It has already cut its forecasts
of growth for the next two years, and it
doesn’t believe new trade agreements – for
instance with India and China – can replace
EU business, pointing out that if you’re
exporting advanced technical equipment or
sophisticated services, the EU and EEA is a
FILL THAT HOLE!
INSTARMAC, with French partner Vert Bleu,
has been fixing the scenic coast road in the
overseas French territory of La Reunion.
When you’ve already got regular hazards
like rocks falling on you from high volcanic
cliffs, tight curves, and the sea on one side,
the last thing you need is a hole where a
manhole cover ought to be. That’s where
Instarmac comes in, with its flowable
polyester resin mortar providing a fix that can
withstand extreme wear and tear – and sets
quickly so the road can be reopened in just 40
minutes.
Instarmac exports to 30 different countries,
including Chile and Iceland. The secrets of
success? First, having an innovative and high
spec product – but secondly, having partners
who know how to apply it. They’re on the
lookout for more!
huge market – emerging markets aren’t (yet,
and for some time to come). It also worries
that while manufacturers may benefit from a
limited single market agreement, providers
of services – more important for the UK and
also less price sensitive – are likely to find
‘passporting’ won’t be available.
Whether or not you believe Moody’s
analysis, one thing’s certain – if it does
downgrade again, we’re likely to see some
significant currency volatility. Keep an eye on
sterling and think about hedging if you have
major exposures.
SLOW TRAIN TO NOWHERE
TALK to anyone who invests in emerging
markets and they’ll tell you Mark Mobius is
a veteran investor who knows his onions.
So when he says low interest rates aren’t
working, it’s worth hearing his argument.
The idea behind low or negative interest
rates is that if banks and companies aren’t
making a return on cash, they’ll have to lend
their money out or invest it in production
or marketing. But, he says, instead what’s
happening is that markets are slowing to a
halt, as banks find the risk of lending too high
for the reward of a low interest rate, and low
growth makes companies even less willing to
invest.
But he’s also worried about pensions.
Pension funds usually invest in government
bonds for long-term income to pay their
pensioners. Now, they’re being forced to take
higher risks if they want to be able to keep
paying out – and that’s stoking the possibility
of a nasty mini-crisis.
Mobius thinks the central banks need to
sing a new tune. But in the meantime, we
seem to be stuck with stagnation.
HUNGARY’S SURPRISE UPGRADE
STANDARD and Poor’s surprised everyone
with their credit rating upgrade for Hungary.
The country’s PM may not be popular with
EU leaders, but the country has regained its
investment grade status after languishing in
junk bond territory for six years.
The budget deficit has been cut,
employment is rising, and the economy
should be growing at 2.5 percent a year over
the medium term – all reasons to be cheerful.
There’s a strong manufacturing base
in life sciences, electronics, and tech – all
opportunities for capital goods manufacturers
and services companies. And there’s also
a fair amount of infrastructure investment
going on – through Hungary’s road and rail
infrastructure is already pretty good, energy
in particular has seen a slug of EU funds to
boost its efficiency.
It’s a market that should deliver reasonable
growth prospects for those with the right
product and a good marketing strategy. But
watch out – though I don’t reckon anyone
takes the threat to ‘throw Hungary out of
Europe’ seriously, the political situation is not
risk-free.
NEWS IN BRIEF >
ANOTHER RESPONSE
TO BREXIT
LUSH cosmetics is one of relatively few firms
to have taken immediate action instead of
waiting to see how things pan out. It already
had a German factory as well as its Poole
headquarters, but now it’s moved more of its
business to Dusseldorf and says any growth in
the business will benefit its EU operations.
I wonder how many exporters may follow
suit – growing the business within the EU and
letting the UK just tick along with its domestic
business? Good for them, maybe – but not so
good for the country.
NOT SO MUCH SPRING
IN THE BOK
EULER Hermes thinks this year will be tough
in South Africa, forecasting insolvencies up
ten percent, and more job losses, which could
impact the consumer market.
There’s a whole host of problems. Low
commodities prices have hit the important
mining sector, while agricultural output has
been affected by drought. Unemployment is
high, and to add to that, there’s a culture of
late payments and credit risk is high.
It can still be worth trading with South Africa
– it’s a big market for mining and construction
equipment, for instance – but make sure you
keep your ear close to the ground and control
your customers’ credit tightly.
FOR THE LATEST
EXCHANGE RATES VISIT
CURRENCYUK.CO.UK OR
CALL 020 7738 0777
Currency UK is authorised and regulated
by the Financial Conduct Authority (FCA).
HIGH LOW TREND
GBP/EUR 1.1873 1.1029 Down
GBP/USD 1.2293 1.2281 Down
GBP/CHF
CURRENCY UK
1.29684 1.20512 Down
GBP/AUD 1.7786 1.6204 Down
GBP/CAD 1.7516 1.6210 Down
GBP/JPY 136.4605 127.3870 Down
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www.cicm.com November 2016 31

ADVERTORIAL
SUPERCHARGE
YOUR GROWTH WITH
THIS INNOVATIVE
PAYMENT SOLUTION
Companies seeking long-term competitive advantage are accelerating
cash collection and driving business growth by leveraging a new
solution from American Express®.
ALL too often, irregular payment cycles make
it hard to ensure a company’s cash flow
stays healthy. Add to this the complexities
.of managing lending policy, and credit
managers’ remit becomes even more demanding.
While they need more than ever to have robust
systems in place, they also have the opportunity to use
innovative and flexible tools to drive customer loyalty
and help the business grow.
It’s in this context that, building on decades of
experience working with businesses around the globe,
American Express® introduced its Working Capital
Solutions, which can speed up payments via a debtneutral
credit source whilst reducing administration for
both the supplier and buyer.
FASTER PAYMENT FOR SUPPLIERS,
FLEXIBLE CREDIT OPTIONS FOR
CUSTOMERS
The solution accelerates collections and helps to
alleviate potential cash crunches, enabling businesses
to free up working capital, which can in turn be used
to drive growth measures throughout the business. It
reduces receivables days for suppliers while extending
the buyer’s payable days, making cash available sooner
and for longer than with traditional invoicing. As a
result, Client/Supplier relationships are strengthened
since the ability to provide an additional line of credit
and more flexible terms plays a key role in increasing
loyalty and customer retention. Add access to this mix
and you create a powerful tool for growth.
‘‘The key benefit of Working Capital Solutions
is that it allows our corporate clients to speed up
payments to suppliers whilst offering their customers
a tool for growth,’’ says Karen Penney, vice-president
and general manager for American Express Global
Corporate Payments in the UK. ‘‘This can then generate
competitive advantage on both sides.’’
SO HOW DOES IT WORK?
The supplier starts by identifying key customers, and
then gives them the option to pay via American Express
using a secure online payments platform.
Upon receiving an invoice, the buyer provides
approval to their supplier who then draws down the
funds on their account, receiving them within five
banking days. The buyer then pays American Express,
with more flexible payment options of up to 55 days.
‘‘Essentially it’s a solution that balances the
opposing payment interests between buyer and
supplier, creating a win-win relationship,’’ explains
Penney.
LAYING THE GROUNDWORK TO
CREATE GROWTH
Working with such a wide range of corporate clients,
American Express is well aware that no two payments
processes are alike. That’s why they’ve made sure
Working Capital Solutions can complement your
company’s existing operations.
“It’s reassuring for our clients to know they don’t
have to change anything, that ordering and invoicing
systems remain the same’’ adds Penney. ‘‘The solution
is straightforward to apply, and once in place it
provides a streamlined payment process that can
really boost operations efficiency.’’
It’s clear that Working Capital Solutions offer more
than just a short-term financial kick. Whilst addressing
immediate challenges, it also provides benefits that
are more holistic and long-term.
Collection can be accelerated at the same time as
the framework for growth is created. A more symbiotic
relationship between supplier and client brings a
distinctive competitive advantage. At the same time
areas such as credit risk, insurance cost and overall
collection costs can be reduced.
When you optimise your cash collections whilst
strengthening key customer relationships, you’re
laying the groundwork for driving business growth.
Working Capital Solutions is available as part
of the American Express suite of Business
Payment tools www.americanexpress.com/uk/
supercharge
32 November 2016 www.cicm.com
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GOODS SOLD
Ordering and invoicing
procedures remain the same
YOUR
COMPANY
£
£
PAID IN
5 DAYS
£
£
BENEFITS
Accelerated
cash generation
Drives
business
growth
BENEFITS
Flexible
payment options
Improved
cashflow
AMERICAN EXPRESS ®
WORKING CAPITAL SOLUTIONS
YOUR
CUSTOMER
UP TO
55 DAYS TO PAY
‘‘The key benefit of Working Capital Solutions is that
it allows our corporate clients to speed up payments
to suppliers whilst offering their customers a tool for
growth, this can then generate competitive advantage
on both sides.’’ - Karen Penney
PART of the LafargeHolcim group,
Aggregate Industries (AI) has more than 350
operations across the UK, Channel Islands
and Northern Europe. In an industry where
geographical location has a strong influence
over choice of supplier, AI was looking for
ways to create competitive differentiation
within the building materials sector.
It needed an innovative and flexible
payments solution that would accelerate
cash flow, drive growth, and give potential
customers another driver to choose AI over
its competitors.
Working with American Express, AI
devised a programme that enabled it to
extend payment out to 90 days for selected
customers, considerably longer than the
conventional arrangements it already
Case Study 2:
GIVING AGGREGATE INDUSTRIES
A COMPETITIVE EDGE
had in place. This additional line of credit
and increased flexibility helped create a
differentiator that grew existing business
and attracted new customers. It also
accelerated cash flow by a full calendar
month.
The solution required no set-up costs
or major process changes for either AI or
the customer, making it easy to market
and implement. Sales to customers on the
scheme saw a significant monthly increase
compared to the same periods in the
previous year.
This innovative collaboration between
AI and American Express won ‘Project
of the Year’ at the hotly contested 2016
CICM British Credit Awards in collaboration
with American Express.
Case Study 1:
CASH-ACCELERATOR
TO POWER GROWTH
FOR WESTCOAST
WESTCOAST is a wholesaler for the
computer industry’s household name
brand products, from tablets to
telephones, monitors to MP3 players.
Westcoast has found access to capital
challenging. Operating in a risk-averse
market characterised by cash flow
gaps, Westocast turned to American
Express with the objective to meet
market demand whilst ensuring faster,
easier customer payments.
‘‘In our business, positive cash flow
is absolutely key,’’ says Westcoast’s
Finance Director, Sunil Madhani. ‘‘It
allows us to generate cash, which we
can then use for other activities that
benefit not only our suppliers, but also
our customers, and helps us to grow.’’
For Mr. Madhani, American Express
Working Capital
Terms apply
Solutions offered an
alternative payment system that was
straightforward and complemented
Westcoast’s existing operations. Via
the electronic payments platform, it
receives payment just five days after its
customer’s authorisation - quicker than
conventional invoice terms.
As both a supplier and buyer,
Westcoast has also been able to utilise
the multi-million pound credit facility
it has with American Express, allowing
them to buy at competitive prices. This
additional facility for optimised cash
flow management helped create short
term and long term improvements in
liquidity and profitability. It supported
Westcoast’s growth by helping to
improve liquidity planning and
streamlining processes.
’’The flexibility and the incremental
nature of the facility that American
Express offers is clearly a great benefit
to me and my customers,’’ adds Mr.
Madhani.
American Express Services Europe Limited has its registered office at Belgrave House, 76 Buckingham Palace Road, London SW1W 9AX, United Kingdom.
It is registered in England and Wales with Company Number 1833139 and authorised and regulated by the Financial Conduct Authority
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www.cicm.com November 2016 33

LEGAL MATTERS
THE DEFINITION OF INSANITY
Einstein is often attributed as saying: ‘The definition of insanity is doing something
over and over again and expecting a different result’. When it comes to enforcement
Civil court users should take heed!
DD +44 (0)113 261 6124 E jeffersen.gledhill@dwf.law W www.dwf.law/recover
Jeffersen Gledhill
THE latest quarterly Civil Justice Statistics
show that the most common method of
enforcing a monetary judgment remains
applying for a Warrant of Control.
Indeed, the number of Warrants of Control
issued per quarter has recently increased by
around four percent compared to the same
quarter last year – if replicated over the course
of the year, this would translate to an eyewatering
309,688 Warrants. In practice though
(and as most consumer and commercial
credit professionals will, no doubt, attest to),
with limited (and diminishing) resources in
the County Court, waiting for a Bailiff to even
attend may take some time; as to whether they
are likely to be best-equipped or prepared to
execute the Warrant as a creditor might expect.
As Paul Rock noted in his systematic
description of the debt-collection process in
England Making People Pay, ignorance can play
a significant role:
‘In part, (creditors’) choice of weapons is
constrained by their ignorance of the debtor and
their unwillingness to devote time, thought or
money to enforcement …’
So what can we share? First and foremost,
Nicola Dominy and Elaine Kempson’s Can’t pay
or won’t pay remains a useful tool in deciding
which debtors it is appropriate to take to Court.
Second and when you have a Judgment or
Order, DWF’s strategic thinking surrounding
enforcement shines through:
• Orders to Obtain Information: You can
apply to the Court for an Order requiring an
officer of a debtor company (or a debtor in
person) to attend Court to provide information
about their means and/or on any other matter
needed to enforce the judgment or order. What
is sought in the standard Order and Record of
examination form though and, perhaps more
importantly, what is missing?
• Warrants of Control: The County Court
Bailiff clearly still has a place, particularly in the
consumer environment. Part Warrants, where
a Warrant is issued for part of a Judgment
or Order, can be an effective tool obtaining
payment of an initial, more manageable sum
and then getting debtors to engage in future
arrangements – a ‘behavioural approach’ to
debtor management.’
• Writs of Control: ‘Where a Judgment or
Order for an unregulated debt is between
£600 and £5,000, creditors have the choice of
either issuing a Warrant in the County Court or
transferring to the High Court for a Writ. Court
fees for a Warrant are up to £110, against £66
for a Writ; even accounting for the fixed costs
allowed for legal representatives the difference
in cost for issue is nominal but in service it’s
significant – a real “no brainer”. Find the best
partners you can in the High Court Enforcement
market and benchmark regularly.
• Third Party Debt Orders: You can also
apply to enforce your debt directly against
third parties who owe your debtor money, i.e.
financial institutions. With most people opting
to only bank and save with the same institution,
a savvy credit professional can sometimes
“hit the jackpot” with those debtors who have
clearly got money in their account and just
don’t want it in their creditors’!
• Charging Orders: A charge only provides
security against whatever equity is in a
debtor’s property. Although vast swathes of
Charging Orders are regularly secured by and
on behalf of creditors, many often do little to
enforce and translate these securities into
recoveries efficiently. However, Courts are often
sympathetic to creditors in demonstrable cases
of ‘contumelious neglect’ or refusal to pay
where, without sale, it is clear that the debt will
not be paid off.
• Attachment of Earnings Orders: If the
debtor is an individual in employment then it
may be possible to obtain an order to deduct
money directly from their wages, with the Court
to decide the amount of any deduction based
upon the debtor’s means. Is the debtor’s reply
form really disclosing sufficient information to
make an Attachment of Earnings Order at the
right level though?
Beyond that, the strategic use of insolvency,
as discussed in our last article, remains
one of the most effective ways of recovering
funds quickly from a debtor who is solvent but
unwilling to pay their debt.
You need to consider which method of
enforcement or insolvency is more likely to
achieve success and then how best to execute
it. As Einstein did say: ‘The world as we have
created it is a process of our thinking. It cannot
be changed without changing our thinking.’
This information is intended as a general
discussion surrounding the topics covered
and is for guidance purposes only. It does
not constitute legal advice and should not
be regarded as a substitute for taking legal
advice. DWF is not responsible for any activity
undertaken based on this information.
Jeffersen Gledhill is Legal Recoveries and
Operations Manager at leading law firm
DWF and has over a decade’s experience in
debt litigation, enforcement and insolvency.
Jeff is an avid supporter of the CICM, having
presented at numerous conferences, as well as
being very active in branch activities. Jeff also
provides in-house training and consultancy
services to clients.
AS A CICM MEMBER YOU CAN RECEIVE FREE LEGAL ADVICE FROM DWF
VISIT THE CICM WEBSITE AND CLICK ON THE FREE ADVICE LINE.
34 November 2016 www.cicm.com
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Filter out the
time wasters
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Now multi-award winning credit insurer
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Powered by
The recognised standard
www.cicm.com November 2016 35

MAKE YOUR CASE
PRODUCTS AND
INNOVATIONS
In the second part of his two-part feature, Sean Feast asks the key
players to describe their most recent products and innovations, and
services ‘beyond’ credit insurance.
ATRADIUS
What services do you provide ‘beyond’ the core
credit insurance offering?
The traditional Credit Insurance proposition is
changing as market expectations look more often
towards non-standard cover solutions in place of the
more typical whole turnover offering. Atradius was one
of the first ‘traditional providers to anticipate this trend
and we set up our special products team, based in the
London market over ten years ago. Atradius SP is now
one of the leading players in this segment.
Atradius Collections is a significant element of our
overall offering and is offered at zero additional cost
to customers and has been steadily growing in terms
of portfolio size and volume and also geographical
footprint, with expertise now available in 25 locations
around the globe and with collection capabilities in
96 percent of countries. The collections capability
is sometimes underappreciated as a ‘nice to have’,
but in reality it represents a unique selling point for
Atradius as insured customers gain automatic access to
collections expertise and provides a premium service
often at no extra cost.
What is your latest innovation/product and
explain why it is of essential use to credit
managers?
When we talk about trade receivables the need for
a robust risk management strategy is typically the
headline advice offered and it no surprise therefore
that the Atradius strapline indicates, managing risk
and enabling trade. These core elements are what
customers are actually buying, the access to expertise,
to information and to the accumulated experience
about trading risks around the world. Applying our
knowledge, and consulting with customers to establish
These core elements are what customers are
actually buying, the access to expertise, to
information and to the accumulated experience
about trading risks around the world.
what is critical to them, we have developed an online
world class tool to support customers (and brokers)
in managing their risk portfolio. The tool is intuitive,
informative, and enables customers to quickly identify
potential issues and more importantly to anticipate
opportunities.
COFACE
What services do you provide ‘beyond’ the core
credit insurance offering?
Our key services include business information in
the form of credit reports, credit opinions, country
assessments etc as well as third-party collections.
What is your latest innovation/product and explain
why it is of essential use to credit managers?
We have a number of recent product innovations
including TradeLiner, TopLiner, CofaMove, Policy
Master and Cash Master.
TradeLiner offers solid cash flow protection and
efficient credit management support to bring you peace
of mind, financial stability and ultimately facilitate the
healthy growth of your business. It is also a customised
solution, due to the many options available to cover
various types of risks.
TopLiner is a supplemental cover which goes beyond
typical credit insurance and stands apart. With TopLiner,
Coface delivers expertise by providing a straight
assessment of the cost of your credit risk. You can
evaluate it against your net margin to ensure that your
commercial transaction remains profitable.
CofaNet, Coface’s online credit management tool, is
complemented by CofaMove, a smartphone App which
enables you to manage CofaNet whilst on the move.
CofaMove improves responsiveness in risk-taking
and monitoring as well as providing real time credit
management guidance to sales teams on the road.
Fully interfaced with CofaNet Essentials, Policy
Master has been designed to simplify our clients’
daily management of their credit insurance cover.
CofaNet Cash Master facilitates our clients’ financing
arrangements. Thanks to a secured certificate of
cover generated by Cash Master, our clients’ financial
partners receive accurate information on the quality of
their customers and a breakdown of insured invoices.
36 November 2016 www.cicm.com
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EULER HERMES
What services do you provide ‘beyond’ the core
credit insurance offering?
Bonding - We are a leading provider of Surety Bonds
within the UK and Europe where we benefit from the
reach of our global network and financial solidity. Our
Bonds cover a wide range of sectors for contractual
and commercial surety. By being proactive, innovative
and maintaining core underwriting principles, we have
been able to assist clients across various transactional
scenarios offering a viable alternative to bank
guarantees.
Collections - Our global commercial debt collection
offering provides our customers with access to
collection and negotiation services. This covers the
amicable, pre-legal solutions aimed at preserving
customer relationships and goodwill, to the last resort
scenarios of judgements and enforcement; including
access to specialist lawyers with local expertise in 130
different countries.
World Agency - Our World Agency services
cover the full range of market-leading multi-line
risk management solutions. We listen to our clients
requirements and create something unique which
allows safe sales expansion throughout the world.
With our World Program, clients can benefit
from economies of scale for their subsidiaries by
consolidating their purchase, through a tailor-made
credit insurance solution, optimising risk management
and corporate governance. Our Excess of Loss (XoL)
product offers non-cancellable cover designed
to protect businesses with internal strong credit
management practices against exceptional losses.
Transactional Cover offers tailored solutions related
to political risk, mid-term policies, structured deals or
single transactions. It is a customised policy designed
to mitigate risks such as contract interruption, nonpayment,
confiscation with political violence and
enables businesses to secure limits (non-cancellable up
to eight years) on a single risk transaction (up to $125
million per transaction) often in the short-to medium
term.
It enables our clients to take advantage of attractive
investment, financing and trade opportunities in
international markets.
Our aim is to partner with businesses to help
them deliver profitable growth -without the right risk
mitigation measures, growth into new markets can be
stunted. The value we bring to businesses operating
in these markets includes our worldwide expertise in
risk assessment, and deep knowledge of the markets,
leveraging our global footprint.
What is your latest innovation/product and
explain why it is of essential use to credit
managers?
Our small business customers can now act 24/7 to
protect current and future cash flow by using a new
online application process for Simplicity, our ‘fixed
premium, fixed cover’ trade credit insurance product.
Many small businesses routinely offer trade credit
to key customers, or to gain new contracts, but in doing
so run the risk of not getting paid. Simplicity protects
against this risk, and because it is designed for smaller
firms, it minimises policy administration by providing
fixed cover for a fixed premium (known as blind cover).
A new quick quotation service and online
application process, allows businesses to research the
level of cover, cost and apply for Simplicity whenever
they want. Policyholders also gain access to our global
risk database and insight on potential customers.
NEXUS CIFS
What services do you provide ‘beyond’ the core
credit insurance offering?
We offer debt collection through our partners STA
International. This is a unique offering branded ‘First
Place’ whereby we offer policy enhancements if STA is
used for debt collection including a higher payout on a
claim where STA has been employed and a contribution
to legal costs if legal action is required. We have also
recently launched a ‘free’ debt collection service with
STA whereby the collection costs are added to the
principal debt and interest and if possible collected by
STA.
We also offer First Limit available only to CIFS
policyholders as a means of gaining a credit opinion
for relatively low credit exposures without reference to
a credit underwriter. The application is very quick and
easy and a simple yes/no response is given to a pre-set
amount, normally a credit limit of £10-£20k. It ties in
with the main underwriting system and also shows the
‘available limit’ which can be any amount up to the
overall policy limit. You can see at a glance which First
Limit customers have higher available limits and target
your sales accordingly.
What is your latest innovation/product and
explain why it is of essential use to credit
managers?
Our newest product is First Select, a comprehensive
data base of company information including contact
email addresses and telephone numbers. The data
base can be filtered by company size, trade sector,
location and other criteria to produce a list for use
by sales and marketing. The unique feature is that
all companies in the database have been vetted and
approved for a First Limit (see above) so have passed
a credit check. On this basis the sales team won’t be
wasting time sourcing leads that ultimately prove to be
futile as they end up being refused credit by the credit
control team.
The recognised standard
www.cicm.com November 2016 37

WE ALL HAVE MOUNTAINS
TO CLIMB, SO WHY NOT MAKE
IT EASIER ON YOURSELF
Get in touch with us to discuss the additional benefits our
approach can bring to your business when compared with
your existing Trade Credit Broker.
Contact us now on:
T: 01279 437662
E: enquiries@efcis.com
W: www.efcis.com
38 November 2016 www.cicm.com
The recognised standard

EDUCATION
OPENING
more DOORS
With CICM qualifications
Studying can improve your career prospects by OPENING DOORS
that previously appeared firmly closed.
You can start at either Certificate or Level 3 Diploma level.
Fees vary according to the amount of support required and some
teaching centres hold information evenings.
EVENING CLASSES
CICM teaching centres offer classroom-based learning in Credit Management (trade, export & consumer), Accounting Principles, Business
Law and Business Environment towards the CICM Certificate and Level 3 Diploma in Credit Management and some offer study towards
the CICM Level 5 Diploma in Credit Management.
IN-COMPANY CLASSES
Some teaching centres and CICM Credit Academy offer in-company classes for CICM qualifications. Contact CICM Learning and
Development for further details. Fees depend on location, length of course and are generally cost effective for groups of 10 learners or
more.
VIRTUAL CLASSROOM
The CICM Credit Academy offers the opportunity to study in a virtual classroom through the web for the Certificate and Level 3 Diploma
in Credit Management examined units Credit Management (trade, export & consumer), Accounting Principles, Business Law and Business
Environment and Level 5 Diploma subjects. Classes are led by an experienced tutor, are interactive and you have plenty of opportunity to
ask questions and test your knowledge.
SUPPORTED HOME STUDY
Supported home study suits those who wish to receive tutorial support, but would like some flexibility. This is a practical option if you are
unable to attend college on a regular basis for the Certificate and Level 3 Diploma in Credit Management examined units or CICM Level 5
Diploma in Credit Management. You work mainly by yourself with light touch tutor support.
UNSUPPORTED HOME STUDY
This provides the cheapest and most flexible option to study the Certificate and Level 3 Diploma examined units and Level 5 Diploma
units. As a minimum requirement you would need to purchase relevant study texts/guides prepared by CICM for these units and
specialist text books. Studying by this method offers no tutorial support you work alone.
TRAINING DAYS
CICM and some learning providers offer programmes of one-day training days which link to CICM assignments (see CICM website for the
CICM Training Directory). In some cases, organisations can have their own training linked to CICM awards and CICM would be pleased to
advise on this.
T: +44 (0)1780 722909 | E: professionalqualifications@cicm.com | www.cicm.com
THE RECOGNISED STANDARD IN CREDIT MANAGEMENT
39

BENCH PRESS
ONWARDS
AND UPWARDS
Amir Ali gives the CCUA’s response to Lord
Justice Briggs’ Civil Courts Structure Review.
THE Civil Court Users Association
(CCUA) welcomes the final report of
Lord Justice Briggs and has now had
time to consider its position on the
points raised.
Given that the court will cover money
claims up to £25,000, it is clearly the case
that our members’ claims will form the vast
bulk of those issued as soon as the court
goes live. As set out in our response to the
interim report, our members already enjoy
an effective and largely automated service
from the County Court Business Centre and
the County Court Money Claims Centre. The
existence of any advantages of the Online
Court to our members at the initial stages
up until Judgment is therefore questionable,
whereas the risks if the system proves less
effective, either in the short or long-term, are
considerable. While the CCUA has never been
opposed in principle to the online court, it is
absolutely essential that it functions correctly
immediately upon introduction and that the
service is at least as good if not better than the
systems it replaces.
ALTERNATIVE RESOLUTION
The Association notes the importance placed
on Alternative Dispute Resolution (ADR).
While ADR certainly has its place, it is simply
inappropriate for some claims. In particular
with debt claims, it is often the case that the
claimant is eager to engage but the defendant
is extremely reluctant. Going down that route
in those circumstances can simply waste
time and increase cost. We appreciate that
compulsory ADR is not suggested in the
report, but we would be extremely concerned
to avoid any move towards that.
ACCESS TO JUSTICE
The final report repeats previous concerns
regarding access to justice, particularly as
regards litigants in person. There appears
to be less recognition of the points raised
by the Association, whereby claimants also
suffer access to justice concerns due to
unscrupulous defendants rendering claims
uneconomic due to persistent and blatant lack
of adherence to court orders and the CPR. We
suggested that fixed costs could be introduced
as a deterrent to this behaviour and are
disappointed that this has not been taken up.
The ‘limited fixed recoverable costs regime’
suggested in the report causes the Association
serious concern. Unless such costs are
sufficient and adequate, this will also prevent
access to justice. The current absence of
sufficient costs in the small claims track means
that cases are often rendered uneconomic.
Extreme care should be exercised to ensure
that the same system is not simply extended
to include all claims up to £25,000, as that will
also extend the impact of an existing problem.
The report is at pains to point out that
lawyers will not be expressly prevented from
operating within the online court. However,
unless adequate costs are available, these
proposals are likely to achieve that outcome
whether intended or not. Again, this is a point
to access justice regarding claimants that wish
to exercise their choice to be represented, but
will not be able to recover the cost of doing so.
COURT FEES
Further to the above, the Association
welcomes the final report’s concern regarding
the increase in court fees and the impact this is
undoubtedly having on access to justice, while
appreciating that this does not fall within the
report’s remit.
TRIAGE
Providing it is conducted effectively, the
Association is extremely keen on the idea of
triage and would have liked to see the concept
developed further. Cases vary enormously in
complexity and this often has little connection
to the size of the claim. Allocation to a limited
number of tracks is a very generalised and
arbitrary approach. A quick review of the case
once a defence is filed followed by specific
directions could be of huge benefit to the
efficient running of that case. For example,
a defence based on the content of a written
agreement could be sent for a quick and easy
decision on the papers, spurious defences
could be quickly struck out, whereas a
complex matter could be given the structure
and time it deserves.
CENTRALISATION AND DIGITISATION
The Association welcomes the report’s
focus on centralisation and digitisation.
However, there are many areas where more
fundamental change is required, particularly in
enforcement.
CASE OFFICERS/CASE LAWYERS
The Association sees the benefit of this
proposal for improved case management and
is reassured by the standards of qualification,
training and oversight set out in the report.
ENFORCEMENT
We share the final report’s view that
enforcement is one of the areas where there
is most scope for improvement. For that
reason, we are very disappointed that this
has been parked for further review, while at
the same time welcoming the fact that the
need for a thorough review has at least been
acknowledged.
The Association fully supports the idea
that enforcement should fall under the remit
of a single, unified service, and agrees that a
fundamental review and centralisation of the
rules on enforcement would be beneficial. The
forms and orders used to communicate could
be updated at the same time, for increased
effectiveness.
The report disagrees with the Association’s
observation that enforcement need not
necessarily be a court function, stating
the necessity for judicial oversight. Before
enforcement is commenced, every creditor
must obtain a Judgment, so judicial oversight
has already occurred. Some methods of
enforcement will still require further judicial
40 November 2016 www.cicm.com
The recognised standard

The Association fully supports the idea that enforcement
should fall under the remit of a single, unified service,
and agrees that a fundamental review and centralisation
of the rules on enforcement would be beneficial.
oversight, such as charging orders, but where
enforcement is fundamentally an administrative
process it is difficult to see why this needs to
remain a court process.
Having said that, we would always accept
that there would need to be a mechanism for
recourse to the court in the event of concerns
being raised. Also, our view that enforcement
could be outside of the court has largely
arisen due to an historic inability of the court
to provide an effective enforcement service.
If the court is able to address that, then our
members will be satisfied. We simply believe
that outsourced enforcement is possible and
could be considered.
We are very pleased that the final report
has been persuaded by the Association’s
idea of shifting the onus of responsibility
onto the Judgment debtor who cannot pay
a forthwith Judgment. Our suggestion was
that the Judgment Order should require more
proactivity in engaging with the Judgment
creditor, for example ordering the provision
of income and expenditure information and a
payment proposal.
However, in the event that this was ignored,
we do not share the report’s view that the
next step would necessarily be committal.
Rather, that could open up the route for better
provision of information to the Judgment
creditor. A persistently non-cooperating
Judgment debtor should not be able to hide
behind data protection legislation. There are
provisions already in the statute book under
the Tribunals, Courts and Enforcement Act
2007 (TCEA 2007) which could be introduced
to supply information to the Judgment creditor
from other sources once the Judgment
debtor has demonstrated an unwillingness to
cooperate.
Whilst on the subject of the TCEA 2007, we
believe that any review of enforcement should
also consider the other measures already on
the statute book, such as fixed deductions for
Attachments of Earnings.
The report ultimately seems reluctant
to open enforcement of goods to High
Court Enforcement Officers (HCEO), either
for consumer contract regulated debts or
those under £600. There is once again the
suggestion of incorrect behaviour on the
part of HCEOs. The Association is unaware
of any evidence of this supposed incorrect
behaviour and would welcome sight of it. We
are sceptical it exists. We would also point out
that private sector enforcement has worked
effectively in the criminal courts for a long
time and with minimal complaints. We are
also aware of the substantial efforts made by
HCEOs in recent times to ensure thorough
training and correct behaviour, for example to
identify and deal appropriately with vulnerable
debtors.
As regards debts under £600, the report
suggests that High Court enforcement would
be too expensive. There is no mention of
economies of scale and the fact that the
charges could be substantially lower if
volume of work increased. The Association
continues to strongly support consideration
of the opening up of both of these areas to
the HCEO. There are many ways in which
appropriate safeguards could be implemented
to deal with any remaining concerns.
The report acknowledges that there are
reasoned arguments for the above and also
acknowledges that the work undertaken by
Court Bailiffs can be subject to significant
delay. The Association would point out that
delay is not the only issue and repeats its
longstanding concern that performance data
regarding the work of County Court Bailiffs is
currently extremely limited.
The report notes that residential possession
claims can be subject to particular concerns
regarding treatment of the potentially
vulnerable. We do not believe there is any
basis for concern regarding the conduct of
HCEO in that role, but this could obviously be
closely monitored during a trial period.
CONCLUSION
While there are elements of the report which
receive the Association’s full support, overall it
has come as something of a disappointment
and raises considerable concerns. In
particular, there are no obvious advantages
to our members in replacing the CCBC and
CCMC for claims under £25,000, but there
are considerable risks if the online court is
less effective, either in the short or long term.
The extension of a limited fixed recoverable
costs regime for all claims up to £25,000 could
further impact access to justice and increase
expense to our members. Most disappointing
is the absence of any early proposals for
reform of enforcement. The Association would
strongly urge that a full review of enforcement
should be undertaken as soon as possible
and that there should be a commitment that
comprehensive enforcement reforms will be
implemented at least at the same time, or
preferably before, the introduction of the online
court. Otherwise, this issue risks falling behind
and being overlooked yet again.
The Association continues to strongly support
consideration of the opening up of both of these areas
to the HCEO. There are many ways in which appropriate
safeguards could be implemented to deal with any
remaining concerns.
The recognised standard
www.cicm.com November 2016 41

London -3.4
+7.3
Getting Worse
PAYMENT TRENDS
Northern Ireland
FINGERS CROSSED
Region Sector
Jason Braidwood FCICM(Grad), Head of Credit and Collections at Creditsafe Group,
Getting Better -3.0 +0.5 North -2.9 West -2.7 -2.6 -0.8
Scotland
8 7 6 5 4 3 2 1 0 0 1 2 3 4
15.9 DBT
Yorkshire & Humberside Mining & -0.3 Business Admin
International
Agriculture
Business
Getting Worse
Quarrying
& Support
Bodies
from home
West Midlands +11.6 -1.1
+5.9
+6.8 +6.6
+3.8
Getting Better
+0.2 East Midlands
analyses the latest monthly business to business payment performance statistics.
Scotland -1.1
+11.4 East Anglia
Public
Energy Northern Supply
Administration
IT & Comm
Ireland
+0.8 Wales
Getting Better -3.0 +0.5 North
21.1 -2.9 West -2.7
DBT
I
North West Yorkshire &
seem to remember when completing Top my Five Prompter consumer confidence Payers which we all regard Bottom Five Five Poorer Poorer Payers
Humberside
Yorkshire & Humberside Payers -0.316.0 DBT
analysis last time I was relieved to say that as an underlying indicator +3.8 of economic
14.9 DBT
South West
Mining &
Business Admin
Getting Worse
Sector Sept 16 Change on Aug 16
Sector Sept Quarrying 16 Change on & Support Aug 16
the improvements we’d seen in July had performance. The good news is that we
West Midlands -1.1
just about continued, and that while Financial we and have Insurance seen a small 9.0 improvement
+0.2 South +2.8from East
Retail Mining and Quarrying 30.6 +11.6 +11.6 +6.8
East
Midland
were not yet back to the brighter numbers Public Administration this month, and while 11.3 it has not -2.9taken us
International Bodies 23.0 +0.2 East +6.6Midlands
13.2 DBT
and trends seen in the Spring, the sharp Health setbacks
in May had been put behind us. IT and Comms it is another step in 13.1 the right -2.7 direction.
Agriculture +11.4 19.3 East
& Social
London -3.4
back to where we 12.9 were in July -0.2 or the spring, Business Admin & Support 20.7 +6.8 West
Midlands
Wales +5.9Anglia
+7.3 Northern Ireland
12.4 DBT
Manufacturing Interestingly though, 13.2 if we -2.6 are looking
Business from Home 18.4 15.2 +3.8 DBT
+0.8 Wales
Getting Worse
London
Top Five Five Prompter Payers Payers
14.3 DBT
+3.8 South West B
Sector Sept 16 Change South on Aug West 16
+0.2 South East
14.2 DBT
Financial and Insurance 9.0 +2.8
Public Administration London 11.3 -3.4 -2.9
My concern at that time was whether we
could hold onto these positive trends through
the rest of 2016 given that last autumn had
seen a very poor period that took some time
to rectify. Well, as I look at the trade payment
databases for September, while there has
to try and understand consumer
behaviour from these numbers perhaps
it is also worth looking at the Entertainment
and Hospitality sectors, which should also
be indicative of consumer attitudes. You will
been a slight worsening of performance remember earlier in the year that both these
Health & Social 12.9 -0.2
in general terms, it does not seem to have sectors were our star performers, regularly
IT and Comms 13.1 +7.3 -2.7
noticeably pushed us back and we remain posting figures of less than ten days beyond
Manufacturing 13.2 -2.6
well ahead of where we were a year ago. terms, and while they have both drifted out
Getting Worse Public
In fact if you take a longer view you Top can Five Prompter to something Payers nearer 14-15 and are no longer Bottom Five Energy Poorer Supply Payers Administration
see payment days are now pretty much in appearing at the top of our table they do Getting Better
Bottom Five -3.0 Poorer -2.9 Payers
Region Sept 16 Change Aug 16
line with the average for the year as a whole, appear to be trending in the right direction.
allowing for the better Spring and then West the Midlands In other encouraging 12.4 news -1.1 Manufacturing East Anglia Mining &
Getting Worse
22.1 +11.4
Quarrying
& Support
step back in May/June, and are well ahead East Midlands of has continued its 13.2 steady improvement +0.2 and Northern Ireland 21.1 +7.3
2015, even more so when compared to South 2014. West finds itself back in 14.2 our top five +3.8 for the first North West +11.6 16.0 +6.8 +0.5
We must now keep our fingers crossed London that time, we’ve also seen 14.3 some improvement
-3.4
Scotland 15.9 -1.1
this month’s slight worsening is no more South than East 14.4 +0.2
Wales 15.2 +0.8
a blip and that we can continue on this track
Top
Top
Five
Five
Prompter
Prompter
Payers
Payers
and move into next year in a positive frame
of mind.
INDUSTRY SECTORS
I make no excuse for starting the trade
sector analysis in returning to the Retail
sector as we have done previously. On the
whole, if retailers are paying their suppliers
on time then that usually means they are
doing well and this can be seen as a sign of
7Sector
Region
8 6 5 4 3 2 1 0
Energy Supply
+0.2
+11.4
+0.8
Public
Getting Administration
Worse
from the Transport sector. However,
Construction has slipped to its second worst
position of the year, but with the increase
being only just more than one day it is to be
hoped that this can be reversed. Also on the
bright side, we’ve seen the Public Sector and
Public Sector-affiliated industries recover
some of the lost ground from last month and
once again establish themselves towards the
top of our charts.
It is not all bright news however and last
month’s encouraging performance from
Business Support sector has been well and
truly reversed, with payments on average
over 20 days beyond terms we’re back to the
somewhat disappointing norm for this sector
that we’ve seen over the last year or so. It
would also be remiss not to highlight the
poor showing from the Mining and Quarrying
+3.80 South 1 2 West 3 4 5 6 7 8
+0.2 South East
London -3.4
Getting Better
East Midlands
East Anglia
Wales
+7.3 Northern Ireland
Scotland -1.1
IT & Comms
Manufacturing
Hospitality
IT & Comms
-2.7
Region Sept 16 Change on Aug 16
Business Admin
Region Sept 16 Change on Aug 16
West Midlands 12.4 -1.1
East Midlands 13.2 +0.2
South West 14.2 +3.8
London 14.3 -3.4
South East 14.4 +0.2
sector this month, although for once this
doesn’t seem to have carried through into the
rest of the utilities industry. Finally, a sudden
step back from Agriculture is something of a
surprise as this sector is usually one of the
most steady.
REGIONS
Last month we noted that the capital had
slipped back, but this month that trend
appears to have been reversed and indeed
we are now seeing a Days Beyond Terms
(DBT) figure that is the second lowest we’ve
recorded in the last 18 months. Whether or
not you regard London’s dominant place in
the UK’s economy as a good or bad thing, any
improvement is surely a cause for celebration.
On the other hand, last month’s
surprisingly good figures from Northern
Ireland led us to speculate as to whether the
province had turned a corner and had put
Northern Ireland
Internationa
Bodies
+6.6
B
Getting B
R
Getting WE
N
N
S
W
42 November 2016 www.cicm.com
The recognised standard

Sector
Sector
Getting Better
Energy Supply
-3.0
Public
Administration
-2.9
IT & Comms
-2.7
Manufacturing
-2.6
Hospitality
-0.8
Getting Worse
Mining &
Quarrying
+11.6
Business Admin
& Support
+6.8
International
Bodies
+6.6
Agriculture
+5.9
Business
from home
+3.8
Region
7 6 5 4 3 2 1 0
0 1 2 3 4 5 6 7 8
0
land
+0.5
rside
ands
+0.2
11.4
+0.8
+3.8
+0.2
+7.3
g Worse
Top Region Five Prompter Payers
0 1 2 3 4 5 6 7 8
Getting Better
-1.1
North West
-0.3
-1.1
ndon -3.4
Yorkshire & Humberside
West Midlands
East Midlands
Scotland
Getting Worse
its traditional role of worst-paying part of the
country behind it. Well this month appears to
have
East
answered
Anglia
that question in the negative –
once again we are seeing days beyond terms
of more than 20 which I am sad to say has
been Wales the average over the last two years. I
am not expecting to see a return to the norm
reversed anytime soon but it would be great
if this South month turned West out to be no more than a
hiccup.
Region When looking at regions that Sept are 16 either Change on Aug 16
reverting
West Midlands
South to type or East bucking the trend, the
12.4 -1.1
other big mover is East Anglia, which has had
East a terrible Midlands month and gone from 13.2 its usual place +0.2
South in the West top two or three best paying 14.2 regions +3.8
London to the bottom of the chart. Let’s 14.3 hope this is -3.4
South little more East than a statistical anomaly
Northern Ireland
14.4 as it does +0.2
seem that every six months or so East Anglia
has an especially bad month before falling
back into its traditionally better ways.
To end on a positive note however, both
parts of the Midlands appear to have stepped
into the space vacated by East Anglia (and
indeed Yorkshire and Humberside too) and
are now clearly the promptest paying parts of
the country. It will be fascinating to see if this
continues through October.
Top Five Prompter Payers
+0.2
+11.4
+0.8
+3.8
+0.2
+7.3
Getting Better
Sector Sept 16 Change on Aug 16
-1.1
Financial and Insurance 9.0 +2.8
Public Administration
+0.5
11.3
North West
-2.9
Health & Social 12.9 -0.2
IT and Comms 13.1 -0.3 -2.7
Manufacturing 13.2 -2.6
-1.1
East Midlands
East Anglia
Wales
London -3.4
South West
South East
Northern Ireland
Last month we noted that the capital had
slipped back,
Bottom
but
Five
this
Poorer
month
Payers
that trend appears
to have been reversed and indeed we are now
seeing a Days Beyond Terms (DBT) figure that is
the second lowest we’ve recorded in the last 18
months.
Northern
Ireland
21.1 DBT
Northern
Ireland
21.1 DBT
Scotland
15.9 DBT
Yorkshire &
Humberside
IT & Comms
14.9 DBT
-2.7
Region Sept 16 Change on Aug 16
East Anglia Mining & 22.1 Business +11.4 Admin East International
Getting Worse
Quarrying
& Support Midlands Bodies
Northern Ireland 21.1 +7.3
13.2 DBT
North West +11.6 16.0 +6.8 +0.5 +6.6
West
Scotland 15.9 Midlands -1.1
East Anglia
Wales Wales 15.2 12.4 +0.8
DBT
22.1 DBT
15.2 DBT
North West
16.0 Public
DBT
Bottom Five Energy Poorer Supply Payers
-3.0 -2.9
Getting Better
Sector Sept 16 Change on Aug 16
Mining and Quarrying 30.6 +11.6
International Bodies 23.0 +6.6
Scotland
Business Admin & Support 15.9 20.7 +6.8
DBT
Agriculture 19.3 +5.9
Business from Home 18.4 +3.8
Administration
Wales
15.2 DBT
South West
14.2 DBT
Region
North West
16.0 DBT
London
14.3 DBT
Yorkshire &
Humberside
14.9 DBT
West
Midlands
12.4 DBT
South West
14.2 DBT
East
Midlands
13.2 DBT
London
14.3 DBT
South East
14.4 DBT
East Anglia
22.1 DBT
South East
14.4 DBT
Manufacturing
-2.6
2
2
1
1
Agr
+
The recognised standard
www.cicm.com November 2016 43

FORTHCOMING EVENTS
Full list of events can be found on our website: www.cicm.com/events
CICM EVENTS
2 NOVEMBER
CICM CREDIT SOLUTIONS
SHOWCASE
LONDON
It’s going to be a popular event – with a fantastic
opportunity for you to see the latest products and services
that can make your life easier and help you work better,
faster and more effectively – all in one place, all in one day!
Attendance is FREE TO CICM MEMBERS and lunch and
refreshments will be provided.
CONTACT : E: events@cicm.com or call T: +44 (0)1780
722902 now to reserve a place.
VENUE : HAYS CREDIT MANAGEMENT, 107 CHEAPSIDE,
LONDON, EC2V 6DN.
2 NOVEMBER
CICM BRISTOL AND WEST BRANCH
– DNA OF A CREDIT MANAGER
BRISTOL
The evening will offer an opportunity to network with likeminded
Credit Professionals and see the results of the DNA
of a Credit Manager compiled, and presented, by Hays.
CONTACT : E: bristolandwestbranch@cicm.com.
VENUE : HAYS Recruitment, Hartwell House, 55-61 Victoria
St, Bristol, BS1 6AD.
2 NOVEMBER
CICM LONDON BRANCH – WINES OF THE
WORLD
LONDON
“Wines of the World” Tasting Experience hosted by
Gilbert Winfield Dip WSET, BSc of the Association of Wine
Educators and Circle of Wine Writers. Cost to Members and
guests is £15.00 per head payable in advance.
CONTACT : Alan Church, London Branch Chair, or Kabir
Gulabkhan, Education Officer on E: londonbranch@cicm.
com.
VENUE : HAYS RECRUITMENT, 107 CHEAPSIDE, LONDON,
EC2V 6DN UNITED KINGDOM
8 NOVEMBER
CICM CORPORATE PARTNER, SAFE
COMPUTING – FINANCIALS, HR & PAYROLL
AND PRE-EMPLOYMENT SCREENING
ROADSHOW 2016
MANCHESTER
It’s the time of year to review the effectiveness of your
financial and people management systems.
Can you afford not to take just two hours out of your day to
discover how Safe can drive you towards a more profitable,
efficient and compliant business?
CONTACT : http://safe-financials.co.uk/the-villageroadshow/
VENUE : VILLAGE HOTEL, PAMIR DRIVE, ASHTON-UNDER-
LYNE, OL7 0LY
10 NOVEMBER
FREE CICM WEBINAR: QUARTERLY
REGULATORY UPDATE – KEY CHANGES
THAT WILL AFFECT THE CREDIT INDUSTRY)
ONLINE
Key changes that will affect the credit industry
CONTACT : E: events@cicm.com for more information.
10 NOVEMBER
CICM NORTH EAST BRANCH – THE JUDGE
NEWCASTLE UPON TYNE
Since his last appearance at the Branch, His Honour Judge
CPD
6
CPD
2
CPD
1
Circuit (based at Newcastle Crown Court). So we are
looking forward to learning about the new twists and turns
in the life and times of the region’s judiciary. Entertaining
and informative guaranteed! From: 18:00 arrival for
18:30pm start
CONTACT : This is always one of our most popular events
so to register your interest and secure your place (with
numbers), please email northeastbranch@cicm.com by
Friday 4 November 2016.
VENUE : OLD GEORGE INN (UPSTAIRS BAR), OLD GEORGE
YARD (JUST OFF THE BIGG MARKET) NEWCASTLE UPON
TYNE. NE1 1EE
15 NOVEMBER
CICM CORPORATE PARTNER, SAFE
COMPUTING – FINANCIALS, HR & PAYROLL
AND PRE-EMPLOYMENT SCREENING
ROADSHOW 2016
BOREHAMWOOD
It’s the time of year to review the effectiveness of your
financial and people management systems.
Can you afford not to take just two hours out of your day to
discover how Safe can drive you towards a more profitable,
efficient and compliant business?
CONTACT : http://safe-financials.co.uk/the-villageroadshow/
VENUE : VILLAGE HOTEL, CENTENNIAL AVE, ELSTREE,
BOREHAMWOOD, WD6 3SB
23 NOVEMBER
CICM LAW CONFERENCE 2016
LONDON
The 2016 CICM Law Conference will be chaired and hosted
by Corporate Partner DWF LLP in London’s iconic Walkie
Talkie building.
CONTACT : Please email events@cicm.com
VENUE : DWF LLP, THE WALKIE TALKIE BUILDING, 20
FENCHURCH STREET, LONDON, EC3M 3AG
1 DECEMBER
CICM EAST OF ENGLAND BRANCH –
INSOLVENCY EVENING
BRENTWOOD
The CICM East of England Branch would like to invite all
East of England branch members, and those from London,
Kent, Sussex and Surrey, Chilterns, and Thames Valley
Branches, and all other CICM members, to Brentwood for
their next free to attend event of 2016.
Time: 18:00 Light Refreshments, Start: 18:30, Finish 20:30.
CONTACT : To apply for a place at this free to attend event,
generously sponsored by FRP Advisory LLP, please email
eastofenglandbranch@cicm.com
VENUE : FRP ADVISORY, JUPITER HOUSE, WARLEY HILL
BUSINESS PARK, THE DRIVE, BRENTWOOD, ESSEX CM13
3BE
TRAINING DAYS
10 NOVEMBER
HANDLING YOUR OWN SMALL CLAIMS CASES
VENUE : LONDON
16 NOVEMBER
GETTING STARTED IN CREDIT CONTROL AND COLLECTIONS
VENUE : LONDON
17 NOVEMBER
CREDIT TEAM LEADERSHIP
VENUE : LONDON
18 NOVEMBER
CICM WEBINAR - TELEPHONE COLLECTIONS
VENUE : ONLINE
22 NOVEMBER
DEVELOP YOUR CREDIT CONTROL SKILLS
VENUE : LONDON
25 NOVEMBER
CICM WEBINAR - NEGOTIATING AND INFLUENCING SKILLS
VENUE : ONLINE
25 NOVEMBER
CICM WEBINAR - TIME MANAGEMENT
VENUE : ONLINE
29 NOVEMBER
HANDLING CALLS FROM CUSTOMERS WHO ARE VULNERABLE
VENUE : LONDON
6 DECEMBER
NEGOTIATING AND INFLUENCING SKILLS
VENUE : LONDON
OTHER EVENTS
7-8 NOVEMBER
10TH ANNUAL EUROPEAN ANTI MONEY
LAUNDERING FORUM
LONDON
The Financial Crime and Corruption Association – 10th
Annual European AML AND Financial Crime Conference
http://www.cicm.com/wp-content/uploads/2016/08/
Events_Industry_10thAnnualEuropeanAMLConference_
Nov2016.pdf £100 DISCOUNT FOR CICM MEMBERS.
CONTACT : Download registration form from site.
VENUE : MERCHANT TAYLORS’ HALL, LONDON, EC2R 8JB
13 NOVEMBER
ICTF’S ANNUAL GLOBAL TRADE SYMPOSIUM
– FT. LAUDERDALE, FL
FORT LAUDERDALE, FL. USA
http://www.ictfworld.org/mpage/GlobalSymposium2016
CONTACT : info@ictfworld.org Phone: 410-522-5015
VENUE : THE RITZ-CARLTON, 1 NORTH FORT
LAUDERDALE BEACH BOULEVARD, FORT LAUDERDALE, FL
33304, UNITED STATES MINOR OUTLYING ISLANDS
22 NOVEMBER
FORUMS INTERNATIONAL
– ECF (EMEA CREDIT FORUM)
AMSTERDAM
CONTACT : For more information and an information pack,
E: ecf@forumsinternational.co.uk.
24 NOVEMBER
MALG CONFERENCE & EXHIBITION 2016
LONDON
Join industry leaders and frontline workers to discuss
some of the fundamental issues facing the debt advice and
creditor sectors.
CONTACT : Conference Manager David Legg at
davidleggmalg.org.uk Book now - pay later.
VENUE : ROYAL COLLEGE OF PHYSICIANS, 11 ST
ANDREWS PLACE, REGENT’S PARK, LONDON, NW1 4LE
7 DECEMBER
FORUMS INTERNATIONAL – ITRF
CPD
9
(INTERNATIONAL TELECOMS RISK
FORUM) –
18 NOVEMBER
MARLOW
CICM WEBINAR - CREDIT MANAGEMENT IN A NUTSHELL
Earl has been appointed Circuit Judge by HM the Queen,
CONTACT : For more information and an information pack,
VENUE : ONLINE
44and deployed by The November Lord Chief Justice 2016 to www.cicm.com
the North East
E: itrf@forumsinternational.co.uk. The recognised standard
CPD
6
CPD
2
CPD
8

BE ONE CLICK AWAY
FROM OUR WEBSITE
How to set up a great one click link to the CICM website on
your mobile phone. Follow these four simple steps...
Step 1 Step 2 Step 3 Step 4
Go to cicm.com > Click highlighted icon at bottom of screen > Click add to Home screen icon
> Click add icon at top right of screen > CICM icon will appear on your screen
Step 1 Step 2 Step 3 Step 4
Open cicm.com in Google Chrome browser > Tap Menu button > Tap add shortcut to Home screen
> Icon will appear on your screen. Menu button on other Android devices may be displayed differently.
T: +44 (0)1780 722900 | WWW.CICM.COM
THE RECOGNISED STANDARD IN CREDIT MANAGEMENT
45

EDUCATION
help!
PEOPLE IN VULNERABLE
CIRCUMSTANCES -
COULD WE DO MORE?
Debbie Tuckwood, CICM Director of Learning and Development highlights
recent initiatives of the CICM Vulnerability Group.
www.cicm.com
46 November 2016 www.cicm.com
The recognised standard

THE CICM Vulnerability Group formed
this year with an impressive group of
collections experts looking to share best
practice and achieve better outcomes
for customers in vulnerable circumstances.
Work has focused on improving collector
training and the effectiveness of company
policies in this area.
TRAINING IS OFTEN FRAGMENTED
Companies have built a range of processes
for handling calls with consumers in arrears,
focused around the common financial
statement. However the group questions
whether collectors have sufficient skills to
handle calls with vulnerable customers.
They highlight the difficulty of supporting the
most vulnerable who are often reluctant to
answer the phone or engage in conversations.
They want to help collectors find the words
to persuade customers to take up further
professional support. The group believes
that companies could do more to support
collectors in this area. Training is often
fragmented and not always directly related
to collections work when developing skills. It
is easier to focus on technical skills such as
completing common financial statements and
flagging accounts when potential risks are
identified rather than developing the advanced
soft skills required.
NEW ADVANCED SOFT SKILLS TRAINING
As a result, the group has specified training
which brings together key elements. This
training focuses on advanced soft skills for
collectors who potentially are handling calls
from customers in vulnerable situations. It
aims to complement any company training
on procedures such as how to complete a
common financial statement. Developed by a
CICM trainer who is an expert in the field, the
training helps collectors identify vulnerability
more effectively, and aims to improve the
customer experience and raise the proportion
who take up money and debt advice. The
group believes that this specialist advice is
key to helping customers get back on track
with payments. CICM is now delivering the
programme both as an open training day and
tailored in-company training for teams.
Handling calls from customers
who are in vulnerable circumstances
Looking to develop practical skills to
identify and effectively interact with
customers in vulnerable circumstances?
This practical one-day training programme gives
opportunities to develop and practice new skills
Who is it for?
Managers and staff involved in handling potential calls
with people in vulnerable circumstances
What will it cover?
• Personal circumstances which can lead to
vulnerability
• How to identify vulnerability and proceed
> Techniques to identify the issue
> Warning signs from the customer
> Personal skills to take the conversation forward
> Data protection issues
> How to comply with organisational and regulatory
requirements
> Understanding the limits of your role
> How to effectively end the call
• How and where to signpost your customer
> Identify organisations you already partner with/
processes in place
> Review a selection of common support organisations
available to your customer
> Techniques to promote the benefits of using that
service
• Bringing it together
‘An informative, great day! The CICM trainer is
very good, with an easy manner which helps
embed the principles of the course effectively.’
BOOK NOW FOR TRAINING IN
LONDON ON 29 NOVEMBER 2016
For more information email: training@cicm.com
THIS
PROGRAMME
CAN BE TAILORED
FOR TEAMS AND
DELIVERED
IN-COMPANY AT
YOUR OFFICES
POLICY FOCUS
The Group will focus next on policies because
they perceive in some cases a disconnect
between both a company’s vision and policies
for vulnerable customers and the practice
of collections teams. In particular the group
identified difficulties in achieving effective
and consistent outcomes for vulnerable
customers. Debbie Tuckwood, CICM
Director of Learning and Development, urges
organisations who are interested in this work
to get in touch, ‘We welcome new members
to bring fresh perspectives and ideas to
the group. We are excited by initiatives
because we believe it will bring practical
support to collections teams and help
consolidate a wealth of best practice
information and resources in this area.’
You can find out more about how to get
in touch and other developments on the
CICM website (www.cicm.com).
The recognised standard
www.cicm.com November 2016
47

HR MATTERS
HR ROUNDUP
Gareth Edwards looks at cases involving voluntary
overtime, holiday pay and new apprenticeship systems.
DOES a job applicant seeking compensation
for discrimination, rather than the job, gain
protection?
In Kratzer v R + V Allgemeine Versicherung
AG (AV), a German company advertised graduate trainee
jobs. The graduates needed relevant work experience
and a good university degree in one of a few specified
fields, including law. The degree had to be under oneyear-old
or be due to be completed.
Mr Kratzer, a qualified lawyer and former manager
with an insurance company applied. His application
received an automatically generated rejection as he
was not a recent graduate. He complained demanding
€14,000 compensation for age discrimination.
AV apologised for their automatically generated
rejection and invited him to interview. Kratzer declined,
suggesting settlement before interview.
In the German courts, Kratzer claimed age
discrimination and additionally sex discrimination
as he discovered that AV had employed only four
female trainees, despite the genders of the applicants
being evenly split. The German court sent the case to
the European Court of Justice (ECJ), asking: is there
protection against discrimination where an individual is
not seeking employment, just the status of a job applicant
to claim compensation? Is this an abuse of EU law?
The ECJ confirmed that the directives protect those
seeking employment or already in employment. An
individual who submits a job application with the sole
purpose of seeking compensation for discrimination has
no protection; they are not entitled to claim its protection
or compensation.
VOLUNTARY OVERTIME AND HOLIDAY PAY
In Brettle v Dudley Metropolitan Council the Employment
Tribunal (ET) held that, provided payments for
voluntary overtime were ‘intrinsically linked to the work
performed’ and were ‘paid in such a manner, and with
sufficient regularity to be considered a part of normal
remuneration’, then they should be included in holiday
pay.
The case follows a number of high profile holiday
pay cases that have clarified the payments that workers
should receive during annual leave. As a starting point
all workers are entitled to paid annual leave. Regulations
require workers to be paid a week’s pay in respect
of each week of leave. In this latest case, the ET held
that voluntary overtime, together with voluntary out
The Government wants to encourage
more and better quality apprenticeships,
and so from April 2017 its funding of
apprenticeships in England will change.
of hours standby time and related call out payments,
were capable of being normal pay provided they were
intrinsically linked to the work performed and paid with
sufficient regularity.
Employers should monitor the payments that
staff regularly receive and ensure that holiday pay
corresponds with normal remuneration. They will
also need to consider that even where workers are
performing overtime on a voluntary basis, this will
impact upon holiday pay.
Importantly these principles only apply to leave
under regulation 13 of the Working Time Regulations
1998 (the entitlement to four weeks’ annual leave).
Workers in the UK are entitled to an additional 1.6 weeks’
annual leave under regulation 13A of the Working Time
Regulations 1998 to which these principles do not apply.
NEW APPRENTICESHIP SYSTEM
The Government wants to encourage more and better
quality apprenticeships, and so from April 2017 its
funding of apprenticeships in England will change. The
Government has published detailed guidance about the
new system and is seeking further input.
Under the new regime, apprenticeships are seen
as formal training where an apprentice works towards
achieving an approved standard or framework whilst
employed. The training will be partially funded by the
government and employers will be required to pay an
‘apprenticeship levy’ of 0.5 percent of the annual pay bill.
However, all employers will be allocated a £15,000 ‘levy
allowance’ which will be offset against their levy liability.
Only employers with a pay bill of more than £3 million
each year will pay the apprenticeship levy.
All earnings (e.g. bonuses, commissions, pensions
contributions) will be subject to Class 1 secondary NICs
when calculating the ‘pay bill’.
The funds collected from each employer will
be available to that employer via a new ‘digital
apprenticeship service account’ for their apprenticeship
training. The funds will only be available for 18 months
after entering the account, thereafter they are lost.
The guidance confirms that the Government is
seeking further views on the introduction of the system,
in particular over: whether employers should be able to
assign a portion of their apprenticeship funds to support
the training of an apprentice by another employer or
an apprenticeship training agency; a proposal that the
Government pays 90 percent towards the cost of training
and assessment and the employer pays the rest; and
proposals for extra support for employing 16 ‐- 18 year
olds and those with additional needs.
Gareth Edwards is a partner in the employment team
at Veale Wasbrough Vizards. gedwards@vwv.co.uk.
48 November 2016 www.cicm.com
The recognised standard

THE CICM MAGAZINE FOR CONSUMER AND
COMMERCIAL CREDIT PROFESSIONALS
CM April 2016.indd 1 22/03/2016 11:42
THE CICM MAGAZINE FOR CONSUMER AND
COMMERCIAL CREDIT PROFESSIONALS
CM September 2016.indd 1 23/08/2016 14:30
THE CICM MAGAZINE FOR CONSUMER AND
COMMERCIAL CREDIT PROFESSIONALS
CM July/August 2016.indd 1 21/06/2016 12:00
THE CICM MAGAZINE FOR CONSUMER AND
COMMERCIAL CREDIT PROFESSIONALS
CM June 2016.indd 1 20/05/2016 11:19
CM
Credit Management magazine for consumer
and commercial credit professionals
CREDIT MANAGEMENT
CM
APRIL 2016 £10.00
FALLING STAR
THE INDUSTRY SPEAKS OUT
ON THE EU REFERENDUM
www.cicm.com
CREDIT MANAGEMENT
CM
SEPTEMBER 2016 £10.00
DESERT STORM
THE CHALLENGE OF DOING
BUSINESS IN SAUDI
www.cicm.com
CREDIT MANAGEMENT
CM
JULY / AUGUST 2016 £10.00
TOOTH
AND NAIL
SPEAKING OUT ABOUT
DIRECT DEBIT CLAWBACKS
www.cicm.com
CREDIT MANAGEMENT
CM
JUNE 2016 £10.00
BROKEN
CHINA
THE DRAGON RUNS
OUT OF PUFF
THE CICM'S HIGHLY ACCLAIMED MAGAZINE
www.cicm.com
SPECIAL
FEATURES
IN DEPTH
INTERVIEWS
ASK THE
EXPERTS
GLOBAL
NEWS
LEGAL
MATTERS
INTERNATIONAL
TRADE
CURRENCY
EXCHANGE
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MATTERS
MOBILE DIGITAL
EDITION
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STUDIES
THE LEADING JOURNAL FOR CONSUMER AND COMMERCIAL CREDIT PROFESSIONALS
TO SUBSCRIBE CONTACT: T: 01780 722903| E: ANGELA.COOPER@CICM.COM
CICM MEMBER
EXCLUSIVE
Your CICM lapel badge demonstrates your
commitment to professionalism and best practice
TAKE PRIDE IN
WEARING YOUR BADGE
If you haven’t received your badge
E: cicmmembership@cicm.com
The recognised standard
www.cicm.com November 2016 49

PARTNERS
WITH THE BEST
IN BUSINESS
Hays Credit Management is the award winning national specialist division of Hays
Recruitment, dedicated exclusively to the recruitment of credit management professionals
in the public and private sectors. Whether you are looking to further your career in credit
management, strengthen your existing team, or would simply like an overview of the
market, it pays to speak to the market leaders.
hays.co.uk
We specialise in company information with
extensive company coverage, financial risk
metrics and comprehensive corporate
structures. Our Credit Catalyst combines our
international, standardised financial data with
a bespoke credit platform, so you can work
more efficiently, make better quality decisions
and spot risk quickly.
• Assess financial risk and corporate stability
• Get insight on the financial health of individual
companies and across your portfolio
• Manage your data more efficiently
bvdinfo.com
Data Interconnect provides integrated
e-billing and collection solutions via its
document delivery web portal, WebSend. By
providing improved Customer Experience
and Customer Satisfaction, with enhanced
levels of communication between both
parties, we can substantially speed up your
collection processes.
datainterconnect.com
American Express is a globally recognised provider
of payment solutions to the business sector
offering flexible collection capabilities to meet
company cashflow objectives across a range of
industries. Whether you are looking to accelerate
cashflow, create a competitive advantage to drive
business or looking to support your customers
in their growth American Express can tailor a
solution to support your needs.
www.americanexpress.com
Sidetrade helps Credit managers to reduce
excess DSO by up to 50percent and
increase Sales-to-Cash efficiency up to
80 percent. Its innovative, market-leader
solutions, which complement ERP, aim to
secure customers by reducing payment
delays and controlling risk. With clients of
all sizes and all industries in 65 countries,
Sidetrade enables 120,000 sales and financial
users to collaborate through its Cloud, thus
accelerating cash-flow generation.
www.sidetrade.com
Key IVR provide a suite of products to assist
companies across Europe with credit
management. The service gives the end-user
the means to make a payment when and
how they choose. Key IVR also provides a
state-of-the-art outbound platform delivering
automated messages by voice and SMS.
In a credit management environment,
these services are used to cost-effectively
contact debtors and connect them back into a
contact centre or automated payment line.
keyivr.co.uk
Tinubu Square is a trusted source of trade
credit intelligence for credit insurers and for
corporate customers. The company’s B2B
Credit Risk Intelligence solutions include the
Tinubu Risk Management Center, a cloudbased
SaaS platform; the Tinubu Credit
Intelligence service and the Tinubu Risk
Analyst advisory service. Over 250
companies rely on Tinubu Square to protect
their greatest assets: customer receivables.
tinubu.com
Rimilia provides award winning Cash
Application & Cash Allocation software
products that deliver industry leading
tangible benefits like no other. Having
products that really do what they say is
paramount – add to that a responsive
and friendly team that are focused
on new and ongoing benefit realisation and
you have the foundations for successful long
term business relationships.
rimilia.com
50
November 2016 www.cicm.com
The recognised standard

The recognised standard
For further information and to discuss the opportunities of entering into a Corporate
Partnership with the CICM, contact Peter Collinson, Director of Business Development
and Marketing on 01780 727273 or email peter.collinson@cicm.com
Sanders Consulting is a niche consulting firm
specialising in improving Credit Management
Leadership & Performance for our clients.
We provide people and process focussed
pragmatic solutions, consultancy, strategy
days and performance improvement
workshops and we are proud to manage and
develop the CICMQ Programme and the
Best Practice Network on behalf of the CICM.
For more information please contact:
enquiries @chrissandersconsulting.com.
chrissandersconsulting.com
Credica are a UK based developer of specialist
Credit and Dispute Management software.
We have been successfully implementing our
software for over 15 years and have delivered
significant ROI for our diverse portfolio of
customers. We provide a highly configurable
system which enables our clients to gain
complete control over their debtors and to
easily communicate disputes with anyone in
their organisation.
credica.co.uk
CreditForce by Innovation Software is the
leading Collections and Working Capital
Management Systems used globally in over
26 countries and by over 20 percent of the
Top 100 Global Law Firms. Our systems
improve cash flow, reduce DSO, automate
cash allocation, control risk, automatically
generate intelligent workflows and tasks,
speed up query resolution and manage the
entire end-to-end collections cycle. Fully
integrated with over 40 leading ERP and
Accounting systems and delivered locally
or through Microsoft-Azure’s secure cloud
solutions.
www.creditforceglobal.com
Begbies Traynor is the UK’s leading Corporate
Rescue and Recovery practice, handling
more than 1000 cases per year. We operate
from a network of 37 UK offices, with clients
ranging from SME’s to quoted companies
and global banks.
As a business we have a close relationship
with CICM members and understand the
key role they play in the ongoing financial
health of their organisations. We also
understand the pressures that many face and
have developed a creditor services offering
to support their aims. Whether this is utilised
as a basic free consultation by phone, or a
full suite of services to cover all claims in any
insolvency, we can work with members to
provide a tailored solution.
begbies-traynor.com
M.A.H. is a global leader in Export Debt
Collection & Trade Dispute Resolution
Services. Headquartered in Switzerland,
we specialise in resolving cross-border
cases swiftly and amicably. Our mission is to
ensure that all creditors receive full payment
for products or services sold out of the UK
without expensive and lengthy litigation.
Having recovered payments from 112
countries, we rank as first choice among major
international exporters, export credit insurers,
governmental organisations, and other B2B
customers in all industries.
mah-international.com
DWF is one of the UK’s largest legal
businesses with an award-winning reputation
for client service excellence and effective
operational management. Named by the
Financial Times as one of Europe’s most
innovative law firms and independently
ranked first of all top 20 law firms for quality
of legal advice and joint first of all national law
firms for service delivery and responsiveness.
www.dwf.law/recover
Safe’s Credit Control module manages the
entire credit lifecycle, from credit checking
through to cash collection and beyond,
providing detailed analysis of performance.
Safe’s single, intuitive and easy-to-use
application seamlessly brings together the
necessary data and tools you require to
achieve your objective of creating a profit
centre culture within your credit control
function.
safe-financials.co.uk
Think Inspire and Create Ltd - No Ordinary
Consultancy. The newly-launched consultancy
offers an inspired service that supports
businesses and encourages their people
to embrace change. We are committed to
sharing our passion and experience in credit
management, Performance management and
Process improvement.
Our vision is to make sure that the changes
you create are sustainable and enduring.
www.thinkinspireandcreate.com
Graydon UK provides its clients with
Credit Risk Management and Intelligence
information on over 100 million entities
across more than 190 countries. It provides
economic, financial and commercial insights
that help its customers make better decisions.
Leading credit insurance organisations,
Atradius, Coface and Euler Hermes, own
Graydon. It offers its seamless service through
a worldwide network of offices and partners.
graydon.co.uk
The recognised standard
www.cicm.com November 2016 51

NEW CICM MEMBERS
THE INSTITUTE WELCOMES NEW MEMBERS WHO HAVE RECENTLY JOINED
MEMBER BY EXAM
NAME
COMPANY
MEMBER
NAME
COMPANY
Paul Michael Tierney
Bhavna Gandhi-Ketchen
John Matthews
Maura Adams
Collection House Ltd
Hotels 4U.com
ASSOCIATE
NAME
COMPANY
Terena Askey
David Stevens
Marisa Galeadebono
Laura Brown
Benedict Hands
Sarah Reis
BT plc
DAF Trucks Limited
Go Plc
Saint Gobain
Sandvik Ltd (Halesowen)
Wolverine Europe Ltd
AFFILIATE
NAME COMPANY NAME COMPANY
June Walton
Axtell
Daisy Johnson
Hays Credit Management
Rebecca Wisbey
Hays Credit Management
Julian Donnelly
James Rosa Associates Ltd
Christopher Sweeting
Able Investigations & Enforcements
Mark Hawkins
Ace Enforcement Ltd
N·ndor Gyetval
Alcoa-Kofem
Nathan Jowett
Andrew Wilson & Co
Debra Whitelaw
Andrew Wilson & Co
Scott Bukowski
Autodata Products Ltd
James Shuttleworth
Bridgewater Support Solutions Ltd
Lauren Brooks
Bridgewater Support Solutions Ltd
Simon Rodger
Bristow & Sutor
Simon Tiffin
Bristow & Sutor
Thomas Mills
Burges Salmon LLP
David Jefferis
Burges Salmon LLP
Elizabeth Yendoll
Burges Salmon LLP
Bridget Cocking
Burges Salmon LLP
Sian Marshall
Burges Salmon LLP
Stacey Bolton
Capita Education Recruitment
Heena Rach
Carbon Trust Loans
Anca - Cristina Simion
Ceragon Networks
Alexandru-Raul Savu
CJL Debt Recovery Ltd
Zoe Tucker
Coventry University
Samantha Andrews
Croydon Council
Heather Bauer
DAF Trucks Ltd
Mihai Trifon
DHL
Craig Poynton
Eclipse Enforcement Ltd
Hayley Mackenzie-Wright
Equita Ltd
Deborah Kemp
Evolve Hospitality
Adam Ramsden Farnell Element 14
Joseph Reed Farnell Element 14
Andrew Harris Farnell Element 14
Christopher Taylor
FIS Payments (UK) Ltd
Sophie Altur
G2V Group
Stacie Lithgow
Gazprom Marketing & Trading Retail
Thomas Whelan
Greene King Brewing & Retailing Ltd
Natassja Chandler
Greene King Brewing & Retailing Ltd
Feyisayo Bolarinwa
Imperial College London
John Freeman
Informa UK Ltd
Maxine Hawkins
Ingram Micro UK Ltd
Shazya Shakur
Investis Ltd
Amanda Baker
Karro Food Ltd
Petya Burgess
Lodge Tyre Co Ltd
Amit Sohal
Manrose Manufacturing Ltd
Antoaneta Spassova
Marston’s Plc
Alexandru Vasilescu
Mayfair Cars Ltd
Georgia Ireland
Paul Aslin
Rosetta Pozzuto
Claire Seaton
Aiden Collins
Charlotte Austin
Michelle Holmes
Sonia Preston
Mark Adams
Claire Orr
Benjamin Tailor
Julie Hennessy
Christopher Carter
Sheetal Patel
Erkan Kizmazoglu
Chelsey Wood
Charlotte Kemp
Leah Brindle
William Turner
Rebecca Payne
Jordana Lambert
Michael Banks
Emma Ramsden
Jade Swailes
Alan Rollo
Heidi Dowd
Furhan Warner-Malik
Daniella Hedley-Booth
Victoria Armstrong
Katie Steward
Sana Munir
Lyn Newsome
Amie Salazar
Thomas Evans
Charmaine Bailey
Carol Howell
Diane Finister
Anna Pronina
Lucy Sleath
Lauren Bain
Craig Frayne
Ciprian Trifon
Juliet Stadden
Douglas Newton
Judita Ubartaite
Naline Oliveira
MGB Insurance Brokers Limited
Midland Quarry Products Limited
Motor Insurers’ Bureau
Myunidays Limited
Newbury Investments (UK) Ltd
nGAGE Recruitment Ltd
Olleco
Orolia Ltd
Penham Excel Ltd
Redcentric Solutions Ltd
Saint Gobain
Sandwell MBC
Sheffield County Council
Sony DADC UK Limited
Sony DADC UK Limited
StepChange Debt Charity
StepChange Debt Charity
StepChange Debt Charity
StepChange Debt Charity
StepChange Debt Charity
StepChange Debt Charity
StepChange Debt Charity
StepChange Debt Charity
StepChange Debt Charity
StepChange Debt Charity
StepChange Debt Charity
StepChange Debt Charity
StepChange Debt Charity
StepChange Debt Charity
StepChange Debt Charity
StepChange Debt Charity
StepChange Debt Charity
StepChange Debt Charity
StepChange Debt Charity
StepChange Debt Charity
StepChange Debt Charity
Tenet Group Ltd
The Ritz-Carlton Hotel, DIFC
Tokio Marine HCCñInternational Group
Trinty Mirror
Burges Salmon LLP
Novartis Pharmaceuticals Ltd
White & Case LLP
52 November 2016 www.cicm.com
The recognised standard

2016 EXAM RESULTS
CONGRATULATIONS
Congratulations to all of the following, who successfully achieved Diplomas in Credit Management.
LEVEL 3 DIPLOMA IN CREDIT MANAGEMENT - ACICM
NAME MAIN ORGANISATION LOCATION
Emily Newman Ageas Insurance Ltd Eastleigh
Claudia Walters- Pierrehumbert Aitchison Raffety High Wycombe
Andrew Fox Amey Group Services Ltd Oxford
Syed Ahmed Annodata Ltd Kings Langley
Shaun Osbaldstone ARRK Europe Ltd Gloucester
Susan Smith Astec Europe Ltd Dudley
Natasha Kunker Autoglass Ltd Bedford
Anna Thornhill Avanti Gas Ltd Chesterfield
Amber Edwards BNP Paribas Birmingham
Meirion Kania Body Temple Ltd Stoke on Trent
Salvatore Imbesi BSN medical ltd Hull
Richard Scott Cisco Systems International BV Amsterdam, Netherlands
Vanessa Harkin E.ON UK Nottingham
Mandira Aich Elsar Limited Northwood
Veronica Gutu Gilbarco Veeder-Root Basildon
Philip Meenan Hanson UK Bristol
Pravin Roche Hertz Dubai, UAE
Mirko Cerretani Huntsman Tioxide Stockton on Tees
David Jones Informa UK Ltd Colchester
James Baptist MBNA CORPMEM1 Chester
Neale Darracott MBNA CORPMEM1 Chester
Heather Shaw MBNA CORPMEM1 Chester
Adam Lawrence MBNA CORPMEM1 Chester
Jacqueline Newman NHBC National House Building Council Milton Keynes
Andreea Popescu Office Depot CORPMEM1 Cluj-Napoca, Romania
Iulia David Office Depot CORPMEM1 Cluj-Napoca, Romania
Derek Campbell Ravenace Metals Ltd Smethwick
Caroline Hickman Rhodar Leeds
Taryn Wright Robert Walters London
Caroline McChrystal Tenet Group Ltd Leeds
Vincent Legrand Vf Northern Europe Ltd Nottingham
Thomas Bowden NCC Group Manchester
Rob Casey Assist Recruitment UK Ltd Bury
Matthew Coppenhall UK Fuels Ltd Crewe
Joanne Davies Afton Chemical Limited Bracknell
William Dorey PricewaterhouseCoopers Southampton
Louise Edwards Manheim Auctions Leeds
Susan Fordbird Emerson Process Management Europe Leicester
Matthew Francis Reed Online Ltd London
Preetpal Garcha Aggregate Industries Coalville
Sylvie Haffner Dentsu Aegis Network London
Martin Heward Callcredit Information Group Ltd Leeds
Emma Hovell Aggregate Industries Coalville
Caroline Kirkham V W R International Ltd Lutterworth
Kayleigh Kisiel Kohler Mira Ltd Gloucester
David Moore Gb Eye Ltd Sheffield
Stacy Naylor
Wetherby
Kieran O’neill Local World Leicester
Scott Padbury BBC Centre of Excellence Cardiff
Peter Roberts UK Fuels Limited Crewe
Daniel Smith Maples and Calder Services Europe Ltd Leeds
Paul Smith Tata Steel Europe Limited Port Talbot
Michelle Whitby Marston’s Plc Wolverhampton
Edward Winterbourne R C Cutting & Co Ltd London
Tomas Bouska International Personal Finance Ltd CORPMEM1 Leeds
Ben Johnson Balfour Beatty WorkSmart Newcastle Upon Tyne
Marie Vachkova Edwards Services s.r.o. Lutin, Czech Republic
Pavel Burda Edwards Services s.r.o. Lutin, Czech Republic
Kelly Griffiths Thomas Eggar Solicitors Crawley
LEVEL 3 DIPLOMA IN DEBT COLLECTION - ACICM
NAME MAIN ORGANISATION LOCATION
Kabbir Din Places for People CORPMEM1 Preston
LEVEL 5 DIPLOMA IN CREDIT MANAGEMENT - MCICM(GRAD)
NAME MAIN ORGANISATION LOCATION
Sajiv Gupta Avnet Technology Solutions Bracknell
Jackie Noden Randstad UK Holding Luton
The recognised standard
www.cicm.com November 2016 53

BRANCH NEWS
CICM HQ
BIKERS AND BEARDS
Credit Management’s own Art Editor, Andrew
Morris, recently completed The Distinguished
Gentleman’s Ride among 60 other riders in
Peterborough raising £4,500 in the process.
Founded in Sydney by Mark Hawwa in
2012, the first ride in 2012 brought together
over 2,500 riders across 64 cities. The
success of the event encouraged the founder
to consider how it could be used to
support a worthy cause.
In 2015, over 37,000 participants in
410 cities in 79 countries raised over $2.3
million (US) for prostate cancer research.
Pictured is Andrew on his black and
yellow Ducati Scrambler resplendent in
his finest tweed.
THE Sheffield and District Branch held a
seminar on Successful Legal Collections,
kindly presented and sponsored by
Shakespeare Martineau Solicitors.
The evening started with a buffet and
allowed plenty of time for networking
opportunities. It was good to see a few new
faces as well as old attending this event.
Branch Chairman Laurie Beagle then
introduced Helen Carey and Hayley Brown
who presented this very entertaining and
informative seminar.
Helen discussed the options available
when considering ‘going legal’, pre-action
protocols, legal routes and enforcement
options, offering various hints and tips on best
practice.
Hayley then went on to discuss the
potential for insolvency when pursuing a debt
through legal action, informing on statutory
demands, bankruptcy, winding-up petitions
and the liquidation process.
The seminar concluded after a debate on
the potential new pre-action protocols and the
obligations that this would place on creditors,
SHEFFIELD AND DISTRICT
SUCCESSFUL LEGAL COLLECTION
Left to right Carl Goodman, Hayley Brown, Helen Carey, Laurie Beagle.
to which there was unanimous disapproval!
At the end of the presentation there was
a period for the attendees to ask questions
and this was keenly taken up, leading to some
lively discussions on the subject matter.
The feedback to the evening has been very
positive with most people commenting that the
quality and content of the presentation was
pitched just right and of practical use.
Author: Carl Goodman
To include your branch reports in the December issue of CM, please submit your copy via email to
branches@cicm.com Please ensure all photographs are high res (1MB+) and copy doesn’t exceed 400 words.
54 November 2016 www.cicm.com
The recognised standard

FULL NAME
Angela Jennings
SOUTH WALES BRANCH
INTERVIEW TECHNIQUES
THE South Wales Branch, in conjunction with
our corporate partner, Hays Recruitment, held
an event at Hays’ office recently.
This was one of the events that Hays is
running throughout the country, and was all
about CVs and interviews.
For those of us that haven’t had an
interview, or needed to update a CV, it was
a great refresher and amazing to learn how
interview techniques have changed. I strongly
recommend that you attend the next one of
these when it hits your area.
After the event we held a very interesting
question and answer session, with many
really good points and myths being raised and
addressed.
The next South Wales event will be on 20
October, 2016, and we are having a post-Brexit
vote panel discussion.
Want to know more? Drop the committee an
email: southwalesbranch@cicm.com
Author: Steve White
CURRENT JOB TITLE
Senior Credit
Controller
COMPANY NAME
Canal and River Trust
NUMBER OF YEARS IN CREDIT
MANAGEMENT
15+ (Okay, I have lost count)
NUMBER OF YEARS IN CURRENT ROLE
11 years
HOW DID YOU GET INTO CREDIT
MANAGEMENT?
By default really, I studied administration
at college. An opportunity arose in credit
management, although at the time I was
unaware of what the role fully entailed,
I haven’t looked back really. It is a job
which is varied and keeps me interested
and motivated.
WHAT IS THE BEST THING ABOUT
WHERE YOU WORK?
The people and work ethics
WHAT MOTIVATES YOU?
New projects, anything I can sink
my teeth in to which in the long term
improves processes, save costs and
creates efficiency in day to day activities.
60SECONDS
WITH
WHAT IS YOUR FAVOURITE MEAL?
Mmm all sorts but my main one is
spaghetti Pomodoro, yum!
WHAT IS YOUR FAVOURITE HOLIDAY
DESTINATION?
Italy, it’s such a beautiful place.
THAMES VALLEY BRANCH
COFFEE, CROISSANTS AND ATRADIUS
THE Thames Valley Branch invited Gideon
Jones and Yvette Gray from Atradius to
talk about their core business functions of
collections and risk management.
In the UK Atradius is located in Cardiff, and
it has over 160 offices in 50 different countries.
It is the second largest credit insurer in the
world, with access to information on 100
million companies worldwide and makes over
20,000 credit decisions on a daily basis. It is a
diverse Business working with different sized
companies, from SMEs to global corporations.
Credit Insurance is the heart of its business,
and it deals in the domestic and international
trade markets. Global B2B Trade is growing
at two times the rate of GDP and expected to
reach $86 trillion by 2020 – 80 to 90 percent
of this trade is conducted through credit.
This is risky when there is little to no financial
information available for some regions.
It has been forecast that by 2050 the
emerging markets of China, India, Brazil and
Mexico will account for more than 50 percent of
world GDP.
Unsurprisingly, the uncertainty caused by
the decision of the UK to leave the European
Union has sparked a downward revision of
GDP forecasts, which has led to worsening
of bankruptcy projections in a number of
advanced markets. It will have a big impact in
many Eurozone countries, particularly those
with high exposure to the UK.
Gideon focused on China and Brazil as they
are challenging regions, the former affecting
our economy even if we are not actually doing
direct business there. Chinese output is 25
percent more than requirement, communication
can be difficult and it has outlawed debt
collection from being practiced. Brazil has had
an unstable economy for years and it is still
difficult to progress legal action there.
Yvette provided information on Atradius’
diverse and experienced collections team,
which is spread throughout 24 offices
worldwide. It offers dedicated account
managers for customers with the required
cultural knowledge and language skills, and
uses local agents and lawyers and engages
with third party collections resulting in an
average collections success rate of 59 percent.
The Thames Valley Branch would like to
thank Yvette Gray and Gideon Jones for such
an interesting and informative presentation. We
also want to thank Verizon for providing the
venue and food free of charge and for the 34
attendees who made the event such a great
success!
Author: Ruth Howard (ACICM)
NAME THREE PEOPLE YOU WOULD
INVITE TO A DINNER PARTY AND WHY?
Filippo, he’s my partner and he probably
would be upset if he didn’t get an invite,
plus he’s an important person in my life.
Second person would be Hannah my best
friend who I have known for eight years
and met whilst working at CRT. And the
third person would have to be my mum
not to upset the applecart.
WHAT IS YOUR FAVOURITE PASTIME/
RELAXATION ACTIVITY?
Horse riding for definite, it’s a good
way to de-stress and also get out in the
countryside.
IF YOU WERE TO HAVE ONE SPECIAL
POWER, WHAT WOULD IT BE AND WHY?
To be able to travel through time, this way
I get to see what’s in the future.
WHAT IS THE BEST/WORST QUALITY IN
A LEADER?
A good leader is one who can motivate
and lead a team of people bringing out
the good qualities in others. The worst
quality is not being passionate about what
they do, their attitude and how they apply
themselves greatly influences a team
whether good or bad.
IF YOU WEREN’T WORKING IN CREDIT
MANAGEMENT, WHAT WOULD YOU BE
DOING?
I always wanted to do nursing as a child
so would probably fulfil my childhood
ambition.
The recognised standard
www.cicm.com November 2016 55

DON’T MISS YOUR
CAREER MOVE IN
At Hays Credit Management, our consultants are all affiliate members of
the CICM and understand both the demands you face and the skills you
need to thrive within your industry. We can therefore offer you personalised
career advice and the support that you need.
MEDIA BILLER
ESTABLISH NEW PROCESSES
West London, up to £32,000
Due to the expansion of its finance team, an exciting
opportunity has arisen at this renowned international
media business for an experienced biller. Managing
your own portfolio of clients, you will be responsible
for timely billing analysis, month end reporting, PO
reconciliation, regular meetings with managers and
clients and creating reports. You will have strong
Excel skills and SAP/DDS system experience would
be desirable. This role would suit a deadline driven,
hardworking and confident individual who is able
to excel in a fast-paced working environment. In return,
the company offers competitive benefits and modern
offices with exceptional on-site facilities.
Ref: 2818538
Contact Julia Foster on 0203 465 0020
or email julia.foster2@hays.com
CREDIT CONTROLLER
BOOST YOUR CAREER
Leeds £21,000-£24,000 + excellent benefits + pension
This market-leader prides itself on being at the cutting
edge of its industry. As a result of business growth, the
firm is looking for an ambitious credit controller to join
its well-established team. Managing a set of corporate
accounts, you will be responsible for the effective and
timely collection of overdue debt, build strong working
relationships with other departments, resolving complex
queries and ensuring all cash is allocated in a timely
manner. Knowledge of the full credit cycle, previous
experience within a similar role, excellent verbal and
written communication skills and the ability to work
effectively with other departments is essential. This
role also offers CICM study and exceptional career
advancement opportunities. Ref: 2778040
Contact Catherine Hill on 0113 200 3735
or email catherine.hill@hays.com
This is just a selection of the many
opportunities we have available for credit
professionals. To find out more, visit us online.
hays.co.uk/creditcontrol
56 November 2016 www.cicm.com
The recognised standard

NEXT BIG
CREDIT
Fulfil your potential at Bio-Rad, a recognised global leader in the growing
life science search and clinical diagnostics markets. The organisation has
over 7,800 employees and a robust network of operations that serves over
150,000 customers worldwide.
ORDER TO CASH (OTC) CASH
APPLICATIONS CLERK
DEVELOP AND SUSTAIN
TRANSACTIONAL PROCESSES
Watford, £competitive + benefits
An exciting opportunity has arisen for proactive and
driven individuals to join Bio-Rad’s OTC team. In this
role, you will demonstrate timely application of cash
to outstanding receivables, identify and resolve all
issues for daily cash application. Process remittances,
direct debits and credit cards and address corrective
activities to ensure targets are met. You will participate
in financial statement close cycle and produce regular
cash applications reports. You will have extensive SAP
experience in credit management and cash applications,
knowledge of treasury including payment methods,
payment types and cash application control and speak
either Dutch, Flemish, French, German or Spanish.
Ref: 2861996
Contact Nosh Hanif on 01923 205286
or email nosh.hanif@hays.com
ORDER TO CASH (OTC) CREDIT
AND COLLECTIONS CLERK
MAXIMISE CUSTOMER COLLECTION
AND DISPUTE MANAGEMENT PROCESSES
Watford, £competitive + benefits
An exciting opportunity has arisen for proactive and
driven individuals to join Bio-Rad’s OTC team. In this
role, you will help to define processes including but not
limited to planning, executing and controlling credit risk
and collection. Participating in and controlling regular
team outputs, you will manage corrective action against
team error rate as well as identify and resolve issues
from all stakeholders, participate in financial statement
close cycle and produce regular credit and collections
reports. You will have extensive SAP experience in credit
management and cash applications, knowledge of credit
collections and speak either Dutch, Flemish, French,
German or Spanish.
Ref: 2862021
Contact Nosh Hanif on 01923 205286
or email nosh.hanif@hays.com
Working for Bio-Rad, you will receive first class
training and development as well as excellent
benefits package. For more information,
please visit hays.co.uk/jobs/bio-rad
The recognised standard
www.cicm.com November 2016 57

PROGRESS WITH CONTINUING
PROFESSIONAL DEVELOPMENT (CPD)
The CICM Continuing Professional Development (CPD)
programme offers the tools to develop and achieve in your
credit management career. Undertaking CPD provides a focused
training and development plan that can be constantly reviewed
and updated. The benefits are reflected in your ongoing personal
achievement, experience and growth as a professional.
CPD also offers benefit to your employer, the ability to manage
your own self-development demonstrates a key strength and
highlights the potential of linking learning to actions and theory
to practice.
Get started today, visit www.cicm.com to download your
Development Plan and Progress Record.
BUILD SKILLS DEVELOPMENT
THEORY THROUGH QUALIFICATIONS
UP TO DATE KNOWLEDGE AND INFORMATION
NETWORKING
www.cicm.com
CPD
CPD
10
10
58 November 2016 www.cicm.com
The recognised standard

Cr£ditWho?
CICM Directory of Services
FOR INFORMATION,
OPTIONS AND PRICING
PLEASE EMAIL:
anthony.cave@cabbell.co.uk
COLLECTIONS
Controlaccount PLC
Compass House, Waterside
Hanbury Road, Bromsgrove
B60 4FD
T: 01527 549522 (Sales dept)
E: sales@controlaccount.com
W:www.controlaccount.com
Controlaccount has over 30 years of Credit Management and
Debt Recovery experience, helping National and International
SMEs and blue chip organisations, across a wide range of sectors.
We provide a fast, proactive collection service on a no-collection,
no-fee basis, and for some clients a zero cost option,
utilising the late payment act to fund collection procedures. Our
trained collectors take into account your need to recover debts,
whilst maintaining your reputation and preserving customer relationships.
If we can’t recover your outstanding debts through our
collection process, then our service won’t cost you a penny; and
with our additional in-house legal & Trace service as well as our
credit reporting and corporate monitoring services we are ready
to help you every step of the way.
Blaser Mills LLP
Rapid House
40 Oxford Road, High Wycombe,
Buckinghamshire. HP11 2EE
T: 01494 478660/478661
E: Jackie Ray jar@blasermills.co.uk or Gary Braathen
gpb@blasermills.co.uk
W: www.blasermills.co.uk
Established in 1888, leading multi-disciplinary law firm Blaser
Mills specialises in services for businesses and individuals.
The Firm has particular expertise in Dispute Resolution and
Debt Recovery working with experienced credit managers and
finance directors providing solutions to both contested and
uncontested claims.
Blaser Mills provides an experienced team including CICM
qualified legal representatives and the Firm is cited in the
Legal 500 law directory based on quality of work and strong
client feedback.
Offices in Aylesbury, London (Central), London (Harrow), Old
Amersham, Rickmansworth, Staines-on-Thames.
Think Inspire and Create Ltd
T: 0844 414 6056
E: info@thinkinspireandcreate.com
W: www.thinkinspireandcreate.com
Think Inspire and Create Ltd - No Ordinary Consultancy
The newly-launched consultancy offers an inspired service that
supports businesses and encourages their people to embrace
change. If you want to drive forward sustainable change in your
business, Think, Inspire and Create Ltd can optimise the way you
deliver your strategy.
Using a unique Think, Create and Inspire ethos the team works with
businesses, embedding cross-skilled consultants within companies,
to facilitate creative thinking, set goals and find enduring solutions
to challenges.
Think, Inspire and Create Ltd is committed to sharing its passion and
experience in the following areas:
• Credit management • Performance management • Operational
design & Management • People Engagement • Process Change
Management • System design and deployment • Organisation
design.
Our vision is to make sure that the changes you create are sustainable
and enduring. Find out more www.thinkinspireandcreate.com
COURT ENFORCEMENT SERVICES
Premium Collections Limited
Office 3, Caidan House Business Centre, Canal Road,
Timperley, Altrincham, Cheshire, WA14 1TD
T: 0161 962 4695.
F: 0333 121 3843
E: enquiries@premiumcollections.co.uk
W: www.premiumcollections.co.uk
Premium Collections Limited has the credit management solution
to suit you. Operating on a national and international basis we
can tailor a package of products and services to meet your
requirements. Staffed by dedicated professionals with over 60
years combined experience of handling virtually every type of
debt issue, the company was formed in December 2002 and
is owned by our Managing Director, Paul Daine FCICM. Paul’s
particular areas of expertise are the motor finance, insurance
and international debt collection sectors. Services include B2B
collections, B2C collections, international collections, absconder
tracing, asset repossessions, status reporting and litigation
support.
INTERNATIONAL COLLECTIONS
Lovetts Solicitors
Lovetts, Bramley House, The Guildway, Old Portsmouth
Road, Guildford, Surrey GU3 1LR
T: +44(0)1483 457500 E: info@lovetts.co.uk
W: www.lovetts.co.uk
Lovetts has been recovering debts for 30 years! When you
want the right expertise to recover overdue debts why not use a
specialist? Lovetts’ only line of business is the recovery of
business debts and any resulting commercial litigation.
We provide:
• Letters Before Action, prompting positive outcomes in more than
80 percent of cases • Overseas Pre-litigation collections with
multi-lingual capabilities • 24/7 access to our online debt
management system ‘CaseManager’
Don’t just take our word for it, here’s recent customer feedback:
“...All our service expectations have been exceeded...”
“...The online system is particularly useful and is extremely easy
to use... “...Lovetts has a recognisable brand that generates
successful results...”
CONSULTANCY
Court Enforcement Services
Wayne Whitford – Director
M: +44 (0)7834 748 183
T : +44 (0)1992 663 399
E : wayne@courtneforcementservices.co.uk
W: www.courtenforcementservices.co.uk
High Court Enforcement that will Empower You!
We help law firms and in-house debt recovery and legal teams to
enforce CCJs by transferring them up to the High Court. Setting us
apart in the industry, our unique and Award Winning Field Agent
App helps to provide information in real time and transparency,
empowering our clients when they work with us.
• Free Transfer up process of CCJ’s to High Court
• Exceptional Recovery Rates
• Individual Client Attention and Tailored Solutions
• Real Time Client Access to Cases
CREDIT INFORMATION
M.A.H. INTERNATIONAL CORPORATION
Breitenweg 6, 6370 Stans, Switzerland
Ms. Melina Schuler – Business Development Manager
T: ++41 41 618 30 54
F: ++41 41 620 90 26
E: m.schuler@mah-international.com
W: www.mah-international.com
M.A.H. is a global leader in Export Debt Collection & Trade
Dispute Resolution Services. Our head office is located
in Stans, our group law office in Zurich. We specialise in
resolving cross-border cases swiftly and amicably (99
percent of our cases are settled out of court).
We have recovered payments from 112 countries on all five
continents for exporters and other B2B customers of all sizes
in all industries. We rank as first choice among international
export companies, export credit insurers, and governmental
organisations.
Our mission is to ensure that all creditors receive full payment
for products or services sold out of the UK without expensive,
stressful, and lengthy litigation.
Contact us to benefit from our personalised, full-package,
No Collection – No Fee services, provided by our qualified
multilingual global negotiators, collection attorneys, and
affiliate local partner law firms in 65 countries.
The recognised standard
Sanders Consulting Associates Ltd
T: +44(0)1525 720226
E: enquiries@chrissandersconsulting.com
W: www.chrissandersconsulting.com
Sanders Consulting is an independent niche consulting firm
specialising in leadership and performance improvement in all
aspects of the order to cash process. Chris Sanders FCICM, the
principal, is well known in the industry with a wealth of experience
in operational credit management, billing, change and business
process improvement. A sought after speaker with cross industry
international experience in the business-to-business and businessto-consumer
markets, his innovative and enthusiastic approach
delivers pragmatic people and process lead solutions and significant
working capital improvements to clients. Sanders Consulting are
proud to manage CICMQ on behalf of and under the supervision
of the CICM.
CoCredo Limited
Missenden Abbey, Great Missenden, Bucks, HP16 0BD
T: 01494 790 600
E: helpdesk@cocredo.com
W: www.cocredo.co.uk
We provide live online company credit reports and related business
information within the UK and overseas. We have direct feeds from
Dun & Bradstreet, Companies House and other premium providers.
We provide business information on over 256 million companies
across 221 countries. Our information is updated over 500,000
times per day and we have some excellent tracking mechanisms
which provide proactive daily monitoring of changes in the global
information on record. We can offer a wealth of additional services
including XML Integration, D.N.A portfolio management, CoData
marketing information, Companies House documents, Consumer
and Director Searches. We pride ourselves in delivering award
winning customer service, offering you unrivalled support and
analysis to protect your business.
www.cicm.com November 2016 59

Cr£ditWho?
CICM Directory of Services
FOR INFORMATION,
OPTIONS AND PRICING
PLEASE EMAIL:
anthony.cave@cabbell.co.uk
Company Watch
Centurion House, 37 Jewry Street, LONDON. EC3N 2ER
T: +44 (0)20 7043 3300
E: info@companywatch.net
W: www.companywatch.net
What would happen if one of your key customers failed? Do
you rely on company information that is up to 18 months’ old?
Company Watch provides a credit management system that’s
predicted around 90 percent of company failures. Not only
that, our interactive system allows you to input more up-to-date
accounts, and to stress-test company financials to generate an
instantly updated analysis of a company’s financial health. With
a portfolio and email alert system, and a user interface showing
5-year trends along with everything you need to know at a
glance, Company Watch is an invaluable resource in the credit
management process.
CREDIT INFORMATION
Graydon UK
66 College Road, 2nd Floor,
Hygeia Building, Harrow,
Middlesex, HA1 1BE
T: +44 (0)208 515 1400
E: customerservices@graydon.co.uk
W: www.graydon.co.uk
Graydon UK is a specialist in Credit Risk Management and
Intelligence, providing access to business information on over
100 million entities across more than 190 countries. Its mission
is to convert vast amounts of data from diverse data sources into
invaluable information. Based on this, it generates economic,
financial and commercial insights that help its customers make
better business decisions and ultimately gain competitive advantage.
Graydon is owned by Atradius, Coface and Euler Hermes, Europe's
leading credit insurance organisations. It offers a comprehensive
network of offices and partners worldwide to ensure a seamless
service.
EFCIS Limited t/as ICBA UK
Specialist Trade Credit Insurance Broker
The Office, Mill House Farm, Mill Street, Hastingwood,
Essex, CM17 9JF
T: 01279 437662
E: amoylan@efcis.com
W: www.efcis.com
EFCIS Limited - Trade Credit Insurance, Debt Collection, Dispute
Resolution and Legal action for small/medium & multinational
businesses. EFCIS secures limits for clients where the financials
alone do not support the full limit. We are tenacious when
negotiating settlement of claims, securing full payment for claims
and proactively working with our clients in claims avoidance.
We are the industry’s only Broker to develop policy compliance
software to ensure client’s maximum benefit and protection
from the policy. We believe that a well-managed ledger supports
business growth within increased profit and an improved return
on investment.
CREDIT MANAGEMENT SOFTWARE
Creditsafe Business Solutions
Bryn House, Caerphilly Business Park, Van Rd,
Caerphilly, CF83 3GG
T: 0292 088 6500.
E: ukinfo@creditsafeuk.com
W: www.creditsafeuk.com
Creditsafe is Europe’s most used supplier of credit & business
intelligence. Creditsafe have helped over 60,000 customers
across Europe and the USA with a range of products which
includes our UK, European and International Company Credit
Reports, which reach over 129 countries and 90m companies;
customer and supplier Risk Tracker and our 3D Ledger product
which has captured over 35 million Trade Payment Data
Experiences since its launch in 2012. All of which will help
companies manage their exposure to risk, make informed
decisions in relation to credit limits whilst looking at how you
can identify gaps within your sales ledger to prioritise collections
and leverage sales.
Top Service Ltd
2&3 Regents Court, Farmoor Lane, Redditch,
Worcestershire, B98 0SD
T: 0152 750 3990.
E: enquiries@top-service.co.uk
W: www.top-service.co.uk
Top Service is the only credit reference and debt recovery
agency to specialise in the UK construction sector. Top Service
customers benefit from sector specific information, detailed
payment history intelligence and realtime trade references in
addition to standard credit information. There are currently
3,000 construction sector companies subscribing to the service,
ranging from multi-national organisations to small family firms.
The company prides itself on high levels of customer service
and does not tie its customers into restrictive contracts. Top
Service offers a 25 percent discount to all CICM Members as
well as four free credit checks of your choice.
BUREAU VAN DIJK
Northburgh House,
10 Northburgh Street,
London,
EC1V 0PP
T: +44 (0)20 7549 5000
E: bvd@bvdinfo.com
W: www.bvdinfo.com
We specialise in company information with extensive company
coverage, financial risk metrics and comprehensive corporate
structures.
Our information helps you make better quality decisions.
•Assess financial risk and corporate stability
•Get insight on the financial health of individual companies and across
your portfolio
•Manage your data more efficiently
Our Credit Catalyst combines our international, standardised financial
data with a bespoke credit platform, so you can work more efficiently,
make better quality decisions and spot risk quickly.
•Comprehensive coverage of companies across the globe
•Standardised reports so you can benchmark and compare companies
•Financial strength indicators from a range of providers
CREDIT INSURANCE
Arthur J. Gallagher
Insurance Brokers Limited
7 Floor, Temple Point, 1 Temple Row
Birmingham B2 5LG
T: 0121 203 3127
W: www.ajginternational.com
With the risk of default by customers still a major threat to UK and
Global companies there has never been a better time to consider
trade credit insurance. Arthur J. Gallagher’s Credit and Surety team,
which now includes the 2014 – CICM award winning ‘broker of
the year’ team, has considerable experience and market influence
and recognises the unique nature of the credit insurance market.
Our team of experienced professionals deal with a wide range of
businesses, from SME to large corporate and global risks. Please
contact us to discuss how a specifically tailored trade credit solution
can benefit your business
Innovation Software
Innovation Software, Innovation House,
New Road, Rochester, Kent, ME1 1BG.
T: +44 (0)1634 812300
E: jay.inamdar@innovationsoftware.uk.com
W: www.creditforceglobal.com
Innovation Software are the authors of CreditForce, the leading
Collections and Working Capital Management Systems. Our solutions are
used in over 26 countries and by over 20 percent of the Top 100 Global
Law Firms.
Our solutions have optimised Accounts Receivables processes for over
20 years and power Business Intelligence, with functionality to:
• improve cash flow • reduce DSO • control risk
• automate cash allocation • speed up query resolution
• improve customer relationship management
• automatically generate intelligent workflows and tasks
• manage the entire end-to-end collections cycle.
Fully integrated with over 40 leading ERP and Accounting systems,
including SAP, Oracle, Microsoft Dynamics and product partners with
Thomson Reuters Elite we can deliver on either your own computing
infrastructure or through Microsoft Azure’s award winning and secure
cloud service.CreditForce remains the choice solution for world class
businesses.
Book a demonstration by calling T: +44 (0)1634 812 300 or visit
www.creditforceglobal.com for more information.
Co-pilot Limited
73 Flask Walk, London, NW3 1ET
T: +44(0) 20 7813 2182
E: info@co-pilot.co.uk W: www.co-pilot.co.uk
Credit Managers who manage large or multiple ledgers have come to
realise that they need to use specialist software to achieve or maintain
performance improvement – be that risk, collections or both.
For many Credit Managers a key question is where to start. How do
you examine and evaluate the options? How and when do you start the
budgeting process? What are the steps?
Co-pilot has advised on credit management software for a number of
years. We have good knowledge of the available solutions, what’s good,
how they work and what type of solution best fits given situations. We
combine this with considerable experience of credit management Best
Practice so that you can pull everything together into one place and
achieve a flexible and sustainable position going forward.
We work with you through a structured evaluation process which is
designed to enable you to have a clear view of what you can achieve
going forward, what is practicable, the business case implications,
the preferred supplier(s) and what the implementation process would
sensibly look like (in our opinion, there is no such thing as “Plug and
play”).
60
November 2016 www.cicm.com
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Cr£ditWho?
CICM Directory of Services
FOR INFORMATION,
OPTIONS AND PRICING
PLEASE EMAIL:
anthony.cave@cabbell.co.uk
Prof. Schumann GmbH
innovative information systems
Weender Landstr. 23, 37130 Göttingen, Germany
T: +49 551 38315 0 F: +49 551 38315 20
E: info@prof-schumann.de W: www.prof-schumann.de
Our Credit Application Manager (CAM) is a leading credit risk
management solution for major corporations, as well as insurance,
factoring and leasing companies. In their daily work, CAM allows
credit and sales managers to call up all the available information
about a customer or risk in a few seconds for decision support: realtime
data from wherever they are. CAM keeps an eye on customers
whose payment behaviour stands out or who have overdue invoices!
CAM provides an up-to-date forecast of customers’ payments.
Additionally, CAM has automated interfaces for connecting to
leading suppliers of company credit data, payment record pools and
commercial credit insurers. The system is characterised by its great
flexibility. We have years of experience in consulting and software
support for accounts receivable management.
Safe Computing Limited
20, Freeschool Lane, Leicester, LE1 4FY
T: 0844 583 2134
E: info@safecomputing.co.uk
W: www.safe-financials.co.uk
Designed to manage your customer credit accounts effectively,
Safe Credit Control enables your credit management team to:
• Improve cash flow
• Reduce debtor days
• Increase customer service
• Cut the cost of cash collection
• Eliminate manual processes
• Speed up the query resolution process
Safe’s unique approach is centred on changing the perception
of the credit control function from a series of reactive processes
to proactive ones. Credit controllers are traditionally regarded
as an essential element in business to chase late payments
and respond to customer queries. Safe Credit Control has taken
the concepts of customer relationship management (CRM) and
applied it to the credit control function, providing a softer,
service orientated team of customer service representatives.
Credica Ltd
Building 168, Maxell Avenue, Harwell Oxford,
Oxon. OX11 0QT
T: 01235 856400
E: info@credica.co.uk
W: www.credica.co.uk
Our highly configurable and extremely cost effective Collections and
Query Management System has been designed with three goals in
mind:
• To improve your cashflow
• To reduce your cost to collect
• To provide meaningful analysis of your business
Evolving over 15 years and driven by the input of 1000s of Credit
Professionals across the UK and Europe, our system is successfully
providing significant and measurable benefits for our diverse
portfolio of clients.
We would love to hear from you if you feel you would benefit from
our ‘no nonsense’ and human approach to computer software.
STA International
3rd Floor, Colman House,
King Street , Maidstone , ME14 1DN
T: +44(0)844 324 0660.
E: enquiries@staonline.com
W: http://www.stainternational.com
GETTING BUSINESS PAID
STA is an award winning B2B and B2C debt collection, confidential
credit control and tracing supplier. ISO9001 quality accredited, and
with the CSAs Collector Accreditation Initiative, duty-of-care is as
important to us as it is to you. Specialising in international debt, in the
past 12 months we’ve collected from 146 countries worldwide. “Your
Debts Online” gives you transparent access to our collection success
and detailed management information, keeping you in control of your
account. We look forward to getting your business paid.
Tinubu Square UK
Holland House,
4 Bury Street, London
EC3A 5AW
T: +44 (0)207 469 2577
E: uksales@tinubu.com
W: www.tinubu.com
Tinubu Square offers companies across the world the appropriate
SaaS platform solutions and services to significantly reduce their
exposure to risk, and their financial, operational and technical
costs. Easy to implement, our solutions provide an accurate
picture of a customers’ financial health through the entire
order-to-cash cycle, improve cash flow, and facilitate control
of risk across the organization whether group-wide or locally.
Founded in 2000, Tinubu Square is an award winning expert in
the trade credit insurance industry, with offices in Paris, London,
New York, Montreal and Singapore. Some of the largest
multinational corporations, credit insurers and receivables
financing organizations depend on Tinubu to provide them with the
means to drive greater trade credit risk efficiency.
Data Interconnect Ltd
Unit 7, Radcot Estate, 7 Park Rd, Faringdon,
Oxfordshire. SN7 7BP
T: +44 (0) 1367 245777 F: +44 (0) 1367 240011
E: sales@datainterconnect.co.uk
W: www.datainterconnect.com
Data Interconnect provides integrated e-billing and collection
solutions via its document delivery web portal, WebSend. By
providing improved Customer Experience and Customer Satisfaction,
with enhanced levels of communication between both parties, we
can substantially speed up your collection processes.
Rimilia
Corbett House, Westonhall Road, Bromsgrove, B60 4AL
T: +44 (0)1527 872123
E: enquiries@rimilia.com
W: www.rimilia.com
Rimilia excels in the design, development and implementation of
Intelligent Finance Solutions that drive value from existing manually
intensive finance processes associated with accounts receivable,
cash allocation, credit management, bank reconciliation and cash
forecasting. Based in the heart of the UK, our operations extend to
Europe, USA and Asia. Experienced in the field of technology and
accounting, our approach to business revolves around integrity
and enabling organisations to unlock their full potential though
innovation. Rimilia is proud to be a leading innovative supplier of
finance solutions that make a positive change to the blue chip clients
it supplies.
FINANCIAL PR
Gravity London
Floor 6/7, Gravity London, 69 Wilson St, London, EC21 2BB
T: +44(0)207 330 8888. E: sfeast@gravitylondon.com
W: www.gravitylondon.com
Gravity is an award winning full service PR and advertising
business that is regularly benchmarked as being one of the best
in its field. It has a particular expertise in the credit sector, building
long-term relationships with some of the industry’s best-known
brands working on often challenging briefs. As the partner agency
for the Credit Services Association (CSA) for the past 13 years,
and the Chartered Institute of Credit Management since 2006, it
understands the key issues affecting the credit industry and what
works and what doesn’t in supporting its clients in the media and
beyond.
INSOLVENCY
Begbies Traynor Group plc
340 Deansgate, Manchester, M3 4LY.
T: 0161 837 1700 F: 08432181728
E: michael.locke@Begbies-Traynor.com
W: www.begbies-traynorgroup.com
Begbies Traynor is the UK’s leading independent Corporate
Rescue and Recovery practice, handling more than 1000 cases
per year. We offer a bespoke solution for credit professionals, that
is used by many of the UK’s leading companies. Benefits of this
system include;
• Access to a bespoke online case management system
• UK coverage at creditors meetings;
• Assistance with retention of title claims;
• Proactive monitoring of dividend prospects
• Advice on antecedent transactions;
• A dedicated relationship manager to assist with your insolvency
portfolio and answer any queries.
The recognised standard
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Cr£ditWho?
CICM Directory of Services
FOR INFORMATION,
OPTIONS AND PRICING
PLEASE EMAIL:
anthony.cave@cabbell.co.uk
LEGAL MATTERS
DWF LLP
Neil Jinks FCICM – Director
M: +44 (0)7740 179 515
T: +44 (0)121 647 2524
E: neil.jinks@dwf.law
W: www.dwf.law/recover
Described by market commentators as “blazing a trail”, DWF is one
of the UK’s largest legal businesses with an award-winning reputation
for client service excellence and effective operational management.
Named by the Financial Times as one of Europe’s most innovative
law firms and independently ranked first of all top 20 law firms for
quality of legal advice and joint first of all national law firms for service
delivery and responsiveness. DWF offers a full range of cost effective
debt recovery solutions including pre-legal collections, debt litigation,
enforcement, insolvency proceedings and ancillary services including
tracing, process serving, debtor profiling and consultancy.
PAYMENT SOLUTIONS
CICMos (CICM Online Services)
WWW.CICM.COM
T: 01780 722 907.
E: training@cicm.com
W: www.cicmos.com
CICMOS has been designed to help busy credit managers by
providing them with a suite of online tools to support and
quickly develop their teams. The virtual learning centre is an
open platform system, accessed via the website, which is
easy to use, modular and each module is completely optional,
which means the system can be tailored to suit specific
requirements and time constraints. This wide ranging system
is more than just a training tool it is easy to set up and use
and can be accessed securely via the CICMOS website for a
low annual subscription.
RECRUITMENT
PORTFOLIO
CREDIT CONTROL
Hays Credit Management
107 Cheapside, London, EC2V 6DN
T: 07834 260029
E: karen.young@hays.com
W: www.hays.co.uk/creditcontrol
Hays Credit Management is working in partnership with the CICM
and specialise in placing experts into credit control jobs and
credit management jobs. Hays understands the demands of this
challenging environment and the skills required to thrive within
it. Whatever your needs, we have temporary, permanent and
contract based opportunities to find your ideal role. Our candidate
registration process is unrivalled, including face-to-face screening
interviews and a credit control skills test developed exclusively
for Hays by the CICM. We offer CICM members a priority service
and can provide advice across a wide spectrum of job search and
recruitment issues.
ANTI MONEY LAUNDERING
American Express
76 Buckingham Palace Road,
London
SW1W 9TQ
T: +44 (0)1273 696933
W: www.americanexpress.com
American Express is working in partnership with the CICM and is
a globally recognised provider of payment solutions to businesses.
Specialising in providing flexible collection capabilities to drive a
number of company objectives including:
•Accelerate cashflow
•Improved DSO
•Offer extended terms to customers
•Provide an additional line of bank independent credit to drive
growth
•Reduce risk
•Create competitive advantage with your customers
As experts in the field of payments and with a global reach,
American Express is working with credit managers to drive growth
within businesses of all sectors. By creating an additional lever
to help support supplier/client relationships American Express is
proud to be an innovator in the business payments space.
PROFESSIONAL BODIES
Chartered Institute of
Credit Management (CICM)
The Water Mill, Station Road, South Luffenham,
OAKHAM, LE15 8NB
T: 01780 722910 E: info@cicm.com
W: www.cicm.com
The Chartered Institute of Credit Management (CICM) is Europe’s
largest credit management organisation. The trusted leader
in expertise for all credit matters, it represents the profession
across trade, consumer, and export credit, and all credit-related
services. Formed over 70 years ago, it is the only such organisation
accredited by Ofqual and it offers a comprehensive
range of services and bespoke solutions for the credit professional
(www.cicm.com) as well as services and advice for the
wider business community (www.creditmanagement.org.uk).
Portfolio Credit Control
Portfolio Credit Control, New Liverpool House,
15 Eldon Street, London, EC2M 7LD
T: 0207 650 3199
E: recruitment@portfoliocreditcontrol.com
W: www.portfoliocreditcontrol.com
Portfolio Credit Control, solely specialises in the recruitment of
permanent, temporary and contract Credit Control, Accounts
Receivable and Collections staff. Part of an award winning
recruiter we speak to and meet credit controllers all day everyday
understanding their skills and backgrounds to provide you with tried
and tested credit control professionals. We have achieved enormous
growth because we offer a uniquely specialist approach to our
clients, with a commitment to service delivery that exceeds your
expectations every single time.
SmartSearch
Station Court, Station Road, Guiseley, Leeds, LS20 8EY
T: 0113 238 7660
F: 0113 238 7669
E: info@smartsearchuk.com
W: www.smartsearchuk.com
SmartSearch is the first system to bring together Business
and Individual AML Verification on a single platform. Our data
providers Experian and Dow Jones provide SmartSearch
access to over one billion data items enabling AML
verification in all Markets. AML verification data subjects are
automatically screened against the latest Sanction, PEP and
SIP Lists. Ongoing monitoring for the duration of your contract
is provided at no extra cost. Efficient processes; less than 3
minutes to execute a business AML check and a sub 60 second
individual check. Why not let your Compliance Team test drive
SmartSearch for 14 days free of charge? (Ref:CM101)
ATTENTION PRODUCT
AND SERVICE PROVIDERS
You can connect with them all now by having a listing in CreditWho.
For just £1,247 + VAT per annum:
- your business will be listed in Credit Management magazine, which goes out to all our
members and subscribers and has an estimated readership of over 25,000.
TO BOOK YOUR LISTING IN CREDITWHO CONTACT:
ANTHONY CAVE ON 020 3603 7934
For even greater exposure to our membership and a closer association with CICM,
why not enquire about becoming a Corporate Partner.
To find out more contact Peter Collinson (07584 993548).
CICM Corporate Partners now get CreditWho included.
62
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CREDIT MANAGEMENT
CM
MONTHLY PRIZE CROSSWORD
CREDIT CONUNDRUM
FOR ALL EMAIL ENTRIES FOR THE CROSSWORD PLEASE EMAIL: ANDREW.MORRIS@CICM.COM
Puzzle by © 2012 Mirroreyes Internet Services Corporation. All Rights Reserved - CROSSWORD NBR 11
NAME ....................................................................................................................................
ADDRESS ..............................................................................................................................
...............................................................................................................................................
POST CODE .................................. TELEPHONE NUMBER .....................................................
The CICM is registered with the UK’s Information
Commissioner under the Data Protection Act 1998
(the "Act"). All the data contained on this form, is
held and processed electronically in accordance
with the Act.
The Institute holds and processes your personal
data in order to give you the full benefits of being
a member and for administrative purposes.
We might from time to time notify you by post or
email of details of CICM events or other similar
CICM services or products which we think
September be of interest to you. If you do not wish
to receive such notification please tick here q
If you subsequently decide that you do not wish
to receive such notifications please email the
Institute at unsubscribe@cicm.com or write to the
Data Controller at the address given below.
The Data Protection Act gives you the right at any
time to see a copy of all the data that we hold
about you. If you would like a copy, please send a
letter requesting this information together with a
cheque for £10 payable to :
The Chartered Institute of Credit Management
to: Data Controller, CICM, The Water Mill,
Station Road, South Luffenham, OAKHAM,
LE15 8NB.
£20 CROSSWORD PRIZE
THERE WILL BE THREE PRIZES OF £20 EACH FOR
THE FIRST THREE NAMES DRAWN EVERY MONTH
ACROSS:
1. Mugs
5. Tablet
10. A Freudian stage
14. Relating to urine
15. House style
16. Lawn mower brand
17. Lascivious look
18. Unmerited
20. Xylophone
22. Streaked
23. Go up and down
24. Relieves
25. Alleviating fever
32. French for “Queen”
33. Proxy
34. Utilize
37. Warbled
38. Talk
DOWN:
1. Stem
2. Component of urine
3. Jetty
4. Marking
5. Short and blunt
6. Roman moon goddess
7. Tot
8. Foot digitsv 9. At one time
(archaic)
10. Courtyards
11. Exploded stars
12. Mountain crest
13. Deposits of ore
19. Construct
21. Brood
25. Backside
26. Close
27. Prong
28. Sexually assaults
29. Excrete
39. Portent
40. Before, poetically
41. Estimate
42. Implant
43. Acts of refraining
45. Lampblacks
49. Not in
50. Oval
53. Version
57. Widely circulated
59. Border
60. Always
61. Zapupe
62. Part in a play
63. Lairs
64. Showered with love
65. Sleigh
30. Make fun of
31. Writing liquid
34. Part of an ear
35. Observed
36. Terminates
38. A type of large sandwich
39. Excluders
41. Pants
42. Decorative case
44. Gestured the affirmative
45. Stitched
46. Drink garnish
47. Bygone
48. Layers
51. WW1 plane
52. Therefore
53. Overhang
54. False god
55. Leer at
56. Require
58. Consume
CLOSING DATE: 14 November 2016
SEPTEMBER CROSSWORD WINNERS ARE:
Dennis L Howson FCICM, Peter McDonald MCICM(Grad)
and Andrew Thronton MCICM
For the chance of winning £20, forward your completed solution to:
Art Editor, Andrew Morris, Chartered Institute of Credit Management,
The Water Mill, Station Road, South Luffenham, OAKHAM, LE15 8NB.
The recognised standard
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