Credit Management magazine April 2018

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OPINION AUTHOR – Sean Feast Although we cannot offer direct advice, we can ensure they have all of the information they need to make an informed decision,” he says. Using boutique company information agencies in certain territories is an option, Jon adds, but nothing beats old-fashioned due-diligence and KYC. Competition within the publishing industry is fierce, and Jon hopes that the recent investment in Didcot and the new software solutions will give Hachette the competitive edge. Certainly, his present focus is on ensuring the smooth delivery of SAP and other ‘smart projects’ presently underway, but without it impacting current service levels. Migrating from Vista is no mean feat, but when accomplished will support significant improvements in terms of automating workflows, enhanced reporting and delivering real-time data. PUBLISHING ISSUES One issue that is peculiar to the publishing world is ‘Sale or Return’ (SOR) which causes all manner of headaches for the credit team. Delivery shortages and shipments going missing are all in a day’s work for Jon: “Our people are as much ‘issue resolvers’ as they are credit managers,” he laughs, even though speedy resolutions are not always easy to come by. “Imagine you are dealing with a business like Amazon,” he says, “and you have to find the right person to speak to. That is seldom straightforward, but often very important. “We are one of the top suppliers to Amazon and get paid to terms, but that is often more difficult for smaller firms.” Jon used to work for a UK video and record distributor and sees many similarities between distributing books and media product. He also worked in the IT sector for Dell for ten years but the differences between computers and publishing could not be wider. He joined the CICM 34 years ago and is heavily engaged with the Thames Valley Branch. “I very much enjoy the interaction at job fairs and careers’ presentations at schools, meeting teachers, students and their parents,” he explains. “It is quite a challenge. When we are exhibiting alongside well-known accountants, high-tech firms or the Army, no-one really knows what credit management is. When it is explained to them, however, they understand straight away, and often the first thing they want to know is how much they are going to earn!” Within Hachette too, Jon is a keen supporter of the CICM. Within his team of just over 30, some are at various stages of their CICM qualifications and/or are part-qualified, and their learning and development plans invariably include an element of further CICM courses. They also have a CICM Apprentice and are looking to attract more. CENTRES OF EXCELLENCE Jon has looked at CICMQ, but the peculiar nature of the publishing world means it may be difficult. That said, Jon regularly reaches out to his fellow professionals at the CICM Centres of Excellence, arranging exchange visits to facilitate even greater knowledge sharing and seeing how other industries approach credit management. He is encouraged by how many credit managers are now being elevated to ‘Heads of’ and Directors which he sees as a nod to their increased professionalism, and growing awareness of their role and commercial value. He is a passionate professional himself: “It is important we do not work in silos,” he explains. “Our role is to engage with every part of the business, to interact with our operations, sales, customer services, treasury, audit etc and make things happen. We must never be a barrier.” Within his own business, the team is measured against an annual ‘Client Survey’ which is held in particularly high regard: “Yes of course we measure DSO and cash collections, the same as every other credit manager, but we also map our progress against the survey, making sure we improve year on year.” Jon believes that by improving their service levels even by only one percent every year, the cumulative effect can be significant. He hopes the same can be true for one of the other great passions in his life, Maidenhead United FC, a club of which he was once chairman: “They are exceeding expectations and the highest placed they have ever been,” he smiles. It is important we do not work in silos, our role is to engage with every part of the business, to interact with our operations, sales, customer services, treasury, audit etc and make things happen. We must never be a barrier. The Recognised Standard / www.cicm.com / April 2018 / PAGE 24
Membership Benefits CICM membership gives you access to all of these benefits Credit Management magazine National and regional events Knowledge Hub Qualifications and training Professional letters after your name Branches around the country Industry resources Monthly e-newsletter Webinars Mentor Hub Recruitment Hub Monthly technical brief Networking and collaboration including social media Legal, insolvency and business advice lines Continuing Professional Development (CPD) Benefits that keep you informed, help you in your work and support your professional development For details visit www.cicm.com, call us on 01780 722900, or email cicmmembership@cicm.com The Recognised Standard / www.cicm.com / April 2018 / PAGE 25
Page 1 and 2: CREDIT MANAGEMENT CM APRIL 2018 £1
Page 3 and 4: APRIL 2018 www.cicm.com 12 NEWS SPE
Page 5 and 6: OURAML SOLUTION WILL HELPYOU SEAL T
Page 7 and 8: Cream goes sour for restaurants OVE
Page 9 and 10: New bank lending volumes on the dec
Page 11 and 12: Eight out of ten do not understand
Page 13 and 14: The Recognised Standard / www.cicm.
Page 15 and 16: INSOLVENCY Regulation oversight In
Page 17 and 18: TECHNOLOGY THE ONLY WAY IS ETHICS C
Page 19 and 20: TECHNOLOGY AUTHOR - James Perry If
Page 21 and 22: y a factor of tenfold. Credit manag
Page 23: HACHETTE UK may not be a familiar n
Page 27 and 28: VIEW FROM THE SEA AUTHOR - David An
Page 29 and 30: TRADE TALK It’s good to talk The
Page 31 and 32: SHOCK TO THE SYSTEM Devon-based Fra
Page 33 and 34: COUNTRY FOCUS AUTHOR - Adam Bernste
Page 35: No Impact' could be waiting for the
Page 38 and 39: PAYMENT TRENDS A spring in your ste
Page 40 and 41: LEGAL MATTERS Top 12 Tips for Debt
Page 42 and 43: FROM THE ARCHIVE Credit Management
Page 44 and 45: CICM MEMBER EXCLUSIVE Your CICM lap
Page 46 and 47: EDUCATION CICM Vulnerability Framew
Page 48 and 49: CREDIT CONTROLLER APPRENTICESHIPS A
Page 50 and 51: HR MATTERS ROUNDUP Can employees re
Page 52 and 53: ASK THE EXPERTS How do consignment
Page 54 and 55: MEET THE PARTNERS THEY'RE WAITING T
Page 56 and 57: New CICM members The Institute welc
Page 58 and 59: FORTHCOMING EVENTS Full list of eve
Page 60 and 61: TAKE CONTROL OF YOUR CREDIT CAREER
Page 62 and 63: View our digital version online at
Page 64 and 65: Cr£ditWho? CICM Directory of Servi
Page 66 and 67: Cr£ditWho? CICM Directory of Servi
Page 68: THE B2B DEBT RECOVERY SPECIALISTS T

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