Credit Management November 2018

CREDIT MANAGEMENT
CM
NOVEMBER 2018 £12.00
THE CICM MAGAZINE FOR CONSUMER AND
COMMERCIAL CREDIT PROFESSIONALS
Stepping Out
An island of
opportunity
Kevin Reed looks at
the latest political
promises. Page 13
The true value of
being a winner.
Page 42

Are bad debts
iving you the hump
cedar-rose.com
Cedar Rose Business Credit Reports
Available for almost all countries where camels hang out.

24
OPINION
JULIAN WINFIELD
NOVEMBER 2018
www.cicm.com
CONTENTS
13 – OPINION
What the two main political parties
said about business in their autumn
conferences.
20
INTERVIEW
DEWI FOX MCICM
20 – INTERVIEW
Dewi Fox fondly recalls a career that
included a spell at Birds Eye and an
adventure in Australia.
26 – TRADE TALK
Lesley Batchelor talks about the need to
support British exporters.
38 – OPINION
How the credit industry should prepare
for Brexit and new legislation.
32
COUNTRY FOCUS
ADAM BERNSTEIN
42 – WINNING MENTALITY
Winners of a CICM British Credit
Award speak about the impact on their
respective businesses.
50 – HR MATTERS
Is installing CCTV to spy on employees
legal?
54 – SOAPBOX CHALLENGE
Hadley Eames bemoans his
generation’s obsession with creating
the right online image.
Publisher
Chartered Institute of Credit Management
The Water Mill, Station Road, South Luffenham
OAKHAM, LE15 8NB
Telephone: 01780 722900
Email: editorial@cicm.com
Website: www.cicm.com
CMM: www.creditmanagement.org.uk
CICM GOVERNANCE
President Stephen Baister FCICM / Chief Executive Philip King FCICM CdipAF MBA
Executive Board Pete Whitmore FCICM – Chair / Debbie Nolan FCICM(Grad) – Vice Chair
Glen Bullivant FCICM – Treasurer / Larry Coltman FCICM, Victoria Herd FCICM(Grad), Bryony Pettifor FCICM(Grad)
Advisory Council Sarah Aldridge FCICM(Grad) / Laurie Beagle FCICM / Kim Delaney-Bowen MCICM / Glen Bullivant FCICM
Lauren Carter FCICM / Brendan Clarkson FCICM / Larry Coltman FCICM / Victoria Herd FCICM(Grad) / Philip Holbrough MCICM
Laural Jefferies MCICM / Diana Keeling FCICM / Martin Kirby FCICM / Christelle Madie FCICM
Julie-Anne Moody-Webster MCICM / Debbie Nolan FCICM(Grad) / Bryony Pettifor FCICM(Grad) /Allan Poole MCICM
Phil Rice FCICM / Chris Sanders FCICM / Paul Taylor MCICM / Pete Whitmore FCICM.
View our digital version online at www.cicm.com Log on to the Members’
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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.
Any articles published relating to English law will differ from laws in Scotland and Wales.
Managing Editor
Sean Feast FCICM
Deputy Editor
Alex Simmons
Art Editor
Andrew Morris
Telephone: 01780 722910
Email: andrew.morris@cicm.com
Editorial Team
Imogen Hart and Iona Yadallee
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The Recognised Standard / www.cicm.com / November 2018 / PAGE 3

EDITOR’S COLUMN
The problem with
‘not invented here’
Sean Feast FCICM
Managing Editor
IT is always much easier to be in
opposition rather than power.
In opposition, you can carp
from the sidelines; you can go
against every idea and decision
and say that it either won’t work
or that it’s not enough. I have yet to hear
a party in opposition not claim that it will
fix the NHS, invest in more housing, and
eliminate poverty and social injustice once
and for all.
Brexit is a great example of this. I have
absolutely no idea what we should do for
best or whether the various ideas that
seem to involve Norway in the one breath,
and Canada in the next, are good, bad or
indifferent. All I do know is that if the
Government says one thing, the opposition
says the other.
Perhaps this is natural instinct. Maybe
we are all of us inclined occasionally to
suspect anything ‘not invented here’. Take
the Prompt Payment Code. It is much easier
to be one of the many who suggest the Code
has failed, rather than the few who know
the opposite is true. But that does not mean
the few should stay silent.
The labour MP Rachel Reeves recently
described the Code as being ‘wholly
ineffective’, a lazily ill-informed claim
without any foundation in fact – not that
she even bothered to check – and a
statement that went frustratingly uncountered
by those who should have known
better (see news page 6). Did she know
that the Code has helped facilitate the
collection of unpaid invoices totalling
more than £3 million in the last four
years? Did she know that the Code has
been successful in making businesses
reverse poor payment practice decisions?
Did she know that the CICM is currently
mediating between suppliers and some
of the country’s best-known brands to
resolve their payment disputes? Did she ask
whether signatories have been removed
from the Code?
But perhaps it is unfair to single out
Ms Reeves for special attention. She is
only jumping on an already very busy
bandwagon that includes various business
leaders, politicians and the press who
choose for their own ends to repeat the
lie, rather than seek to discover the facts.
Does this mean the Code is perfect? No,
of course not. Can it be improved? Yes
certainly. But if we are going to have a
grown-up conversation about the Code,
then let us do so in the context of what it
is for, and what it has so far achieved. And
let us understand that what has so far been
achieved is without any ongoing financial
or promotional support being given by
Government to the CICM for administering
the Code on its behalf.
When it comes to ‘not invented here’ I
have a word of advice for Ms Reeves and
her like. Just because it wasn’t your idea,
doesn’t make it a bad one. Good leaders,
politicians and successful businessmen
are not necessarily the ones that come up
with the good ideas, but rather are able to
identify a good idea when they see it, and
execute accordingly.
The Recognised Standard / www.cicm.com / November 2018 / PAGE 4

THE RECOGNISED
STANDARD
CICM British Credit Awards 2019
7 February 2019
Royal Lancaster, London
The shortlist for the 2019 Awards will be announced on Monday 26 November
The entries are in… and the shortlist will be
revealed soon.
Don’t miss this fantastic evening of networking and
celebration of all of the incredible achievements across the
credit and collections community. With a fabulous line up of
entertainment, it’s the one event in the credit calendar not to
be missed!
The CICM British Credit Awards is central to our ethos,
rewarding outstanding achievement and innovation shown
by individuals and organisations.
BOOK YOUR TABLES TODAY
AND JOIN US ON THE NIGHT
WHERE ALL WINNERS WILL BE
REVEALED
cicmbritishcreditawards.com
Table bookings
Please contact Natasha Witter on:
T: 020 7484 9876
E: natasha.witter@incisivemedia.com
SPONSORS:
The Recognised Standard / www.cicm.com / November 2018 / PAGE 5
PALADIN

CMNEWS
A round-up of news stories from the
world of consumer and commercial credit
Written by – Sean Feast and Alex Simmons
CICM Chief defends code
from harmful criticism
Philip King FCICM
Chief Executive of the CICM
THE Chief Executive of the CICM,
Philip King FCICM, has mounted
a robust defence of the Prompt
Payment Code (PPC) against
ill-informed and swingeing generalisations
from Opposition spokespeople, a leading
business organisation, and even the
Government itself.
Mr King has also promised to defend the
reputation of the Institute in administering
the Code in the context of damaging
inferences of a lack of independence in
its challenge process, and the unfair and
inaccurate portrayal of the Code as a
‘failure’.
In a strongly-worded letter to the Small
Business Minister, Kelly Tollhurst, and seen
by Credit Management, Mr King said that
he was particularly frustrated that recent
comments by Labour’s Rachel Reeves MP
went unchallenged: “She described the
Code as ‘wholly ineffective’,” he says, “and
the Government was loud in its silence.
Facilitating collection of unpaid invoices
totalling more than £3 million in the last
four years, making businesses reverse
poor payment practice decisions,
supporting process change, mediating
between suppliers and buyers, and
removing signatories from the Code is
hardly ‘ineffective’.
“In the last few weeks, I have had some
seven meetings with major organisations
and signatories that have led to changes in
contract wording, processes and/or action
plans to improve payment performance.
Failing to talk about such success, however,
merely compounds the issue, and silence
seems to confirm the negative judgment of
others.”
Mr King’s comments are in response
to the announcement by the Business
Secretary at the Conservative Party
Conference of plans to strengthen the Code
and launch a Call for Evidence around
the issue of late payment and its possible
remedies.
“For the avoidance of any doubt,” Mr
King writes, “we are fully supportive of the
proposal for responsibility of the Prompt
Payment Code to fall under the auspices of
the Small Business Commissioner (SBC),
Paul Uppal. It is a sentiment I shared with
the Commissioner personally, and with
Government (ie BEIS) officials, early in 2018
soon after his appointment. It is an obvious
and desirable outcome, and to that extent
we are surprised that it should be part of
a consultation since the SBC already sits
under the auspices of BEIS and the Code is
part of the Department’s domain.”
Mr King says that adding Mr Uppal to the
PPC Compliance Board is similarly a logical
step. A further proposal is that the Board
should meet more regularly, in which case
he hopes the SBC’s office will be able to
provide the additional administration and
resource required: “For the record,” he writes,
“the paucity of referrals to the Board is
because challenges have been successfully
resolved without the need for the Board to
be involved. However, if the Board is going
to be more active, it will need to have more
cases to review.”
Mr King believes that the ‘weakness’ in
the Code has nothing to do with who or
who does not sit on the Compliance Board,
neither on how regularly or otherwise
that Board meets, nor in how effective
the challenge process has been. The
weakness stems from a failure of successive
Ministers – and indeed governments – to
understand the purpose of the Code and the
effectiveness of the challenge process in
resolving complicated payment disputes.
“It also stems from a fundamental lack
of awareness of the challenge process as
a direct result of a lack of investment in
publicity and promotion,” he says. “Aside
from two modest grants to develop the
website, the CICM has received no further
financial support from BEIS either for
promotion or, indeed, the Code’s day-to-day
administration. All of those costs have to be
borne by the Institute itself.”
Mr King says Carillion is not, as stated, an
example of where the Code has ‘failed’ but
rather shows how such a lack of investment
is further complicating an already difficult
issue: “Carillion is often lazily stated as
proof positive that the Code has failed. Not
a single business organisation, however,
ever raised a challenge to Carillion as a
signatory to the Code, or complained about
its behaviour. Even the Federation of Small
Business (FSB), a vociferous and respected
defender of its members, was wholly silent
on the issue until after the event, when a
challenge beforehand could have allowed
more businesses to mitigate their risk.
Not a single Minister, either, has chosen to
highlight this point.”
Despite his concerns, Mr King says that
the Institute remains committed to playing
a leading role in tackling the scourge of
late payment, and in working closely with
the Government and the Small Business
Commissioner in the continuing drive to
change the payment culture.
“Certainly, further change is needed and
required,” he adds, “and the Code would
certainly be strengthened by introducing
measures that will allow it to be more
proactive in challenging poor payment
behaviour. But we need to put an end to
baseless allegations that do nothing to
inform intelligent debate.”
The Institute is contacting Members
for their opinions regarding the call for
evidence. Please visit http://bit.ly/2AcmRla
The Recognised Standard / www.cicm.com / November 2018 / PAGE 6

CICM senior team celebrates
successful launch of Ireland branch
DUBLIN’S Croke Park paid host to the
launch of the Irish branch of the Chartered
Institute of Credit Management, with
more than 60 delegates gathering to hear
presentations from senior executives from
the CICM team.
The Best Practice in Credit Management
event kicked off with a presentation by
Chief Executive, Philip King talking about
why the gathering of credit management
professionals was so important in
developing skills, learning from experts and
peers, and driving best practice.
Sue Chapple, CICM Strategic Relationship
Manager, gave an update on CICM
membership and its benefits. Paula Carney-
Hoffler, Client Credit Risk and Compliance
Manager at Hugh J Ward & Co Solicitors
brought GDPR, and the consequences of
failing to comply, to life. Paul Taylor MCICM,
Regional Representative for Scotland and
Northern Ireland, and now Ireland too,
shared what a CICM Branch can do for
credit professionals in the local area.After
a brief networking break, Brian Morgan
from Rimilia and Declan Flood of Irish
Credit Management Training delivered
presentations on the practical application
of technology, best practice, and good
communication skills. Lunch was followed
by Hays and DWF Law providing insights
into their relevant areas of expertise as they
impact on credit management teams and
individuals. Useful tips and nuggets were
eagerly captured by delegates.
The conference, professionally chaired by
Larry Coltman, CICM Vice President, closed
with Philip King summarising the day’s
content and urging attendees to ‘take what
they had learned back to their workplace’,
and encouraging them to be proud of their
profession and their professionalism.
Following the conference, the inaugural
AGM of the Ireland branch of the CICM was
held and, as reported in Credit Management
last month, a committee elected to drive
branch activity forward.
For more information on doing business
in Ireland, see the Country Focus article on
page 32.
FLYING HIGH
FLYLOLO, a flight operator specialising in purchasing seats on ‘peak season’ flights
and selling them to individuals and families at reduced rates, is flying high following
the granting of a revolving credit facility by Reward Finance Group. Flylolo buys
aircraft seats in bulk by finding under-utilised aircraft to obtain the best prices.
loloflights.com
>NEWS
IN BRIEF
Record Fine
THE Financial Conduct Authority (FCA)
and Tesco Bank are negotiating a penalty
over an ‘unprecedented and serious’
cyber-attack that took place in late 2016,
with regulators considering a fine of
over £30 million. The incident, which
saw the bank forced to notify 9,000 of
its customers after data was stolen and
provide a total refund of £2.5 million,
could see the largest fine ever issued by
the FCA in regard to cyber security.
fca.org.uk
Fintech impact
RESEARCH from DLA Piper shows
that up to a third of financial services
firms expect central banks to hold
cryptocurrencies on their balance sheets
within five years. The study shows that
over two thirds of retail and investment
banks feel they are being impacted
upon by fintech, while a third of banks
have engaged with fintech companies
to change the way they operate – and
55 percent are prepared to do so in the
next two years. The poll saw 74 percent
of banks warn that regulation and
compliance was restricting their ability
to adopt new business models and
technologies. dlapiper.com
Board boost
UK Finance has appointed David
Postings, Global Chief Executive, Bibby
Financial Services and Mark Barnett,
President of Mastercard UK, Ireland,
Nordics & Baltics, to its 22-strong board.
John Jenkins, former CEO, Amicus
Finance and Jayne-Anne Gadhia, CEO,
Virgin Money, have both announced
their intention to step down from the UK
Finance Board, following the completion
of corporate transactions involving their
firms. ukfinance.org.uk
Northern Ireland Branch of CICM secures sponsorship
BAKER Tilly Mooney Moore has
become a new sponsor of the Chartered
Institute of Credit Management (CICM)
Northern Ireland branch. The Belfastbased
independent accountancy and
advisory firm will offer support to
CICM NI through a range of initiatives
including sponsoring the Institute’s
Education Support Programme.
The programme will guide
participants who are working towards
their professional credit management
qualifications with face-to-face
training, support and study sessions.
Darren Bowman, Director of
Business Recovery and Insolvency at
Baker Tilly Mooney Moore, says for the
first time in Northern Ireland, people
who want to study credit management
or who have already embarked upon
a study path, will have the chance to
receive support, including personal
training, from credit management
experts: “It’s an excellent opportunity
for interested people to obtain their
CICM qualifications and advance their
career.”
CICM NI Chairman Paul Taylor
says the branch is pleased to welcome
Baker Tilly Mooney Moore as a
Corporate Sponsor: “This partnership
highlights the firm’s commitment to
professionalism and best practice in
the credit industry and we look forward
to sharing their expertise with our
members and students.”
This partnership highlights
the firm’s commitment to
professionalism and best
practice in the credit
industry and we look forward
to sharing their expertise
with our members and
students.
CICM NI Chairman
Paul Taylor MCICM
The Recognised Standard / www.cicm.com / November 2018 / PAGE 7

NEWS
IN BRIEF
Equifax fined by ICO
for failing to protect
personal information
Jonathan Biggin
Chief Operating Officer
New COO for Hitachi
HITACHI Capital UK has appointed Jonathan
Biggin as its new Chief Operating Officer.
Jonathan brings over 20 years of experience
in financial services to the role, having
held senior positions at Barclays, American
Express and Bank of America. In his new
role, Jonathan will oversee operational
efficiency across the firm’s information
technology, human resources and group
change departments.
hitachicapital.co.uk.
Bank fraud bonanza
FIGURES from UK Finance show that over
£500 million was stolen from customers
of British banks in the first half of 2018. Of
this, £358 million was lost to unauthorised
fraud, including transactions made without
account holders' knowledge, while £145
million involved authorised push payment
(APP) scams where people are conned
into sending money to another account.
Purchase scams, where account holders
were conned into paying for products or
services that do not exist, were the most
common form of APP fraud, while there were
also 3,866 reported cases of impersonation
scams, in which criminals posed as
representatives of a financial institution or
the police. Two-thirds of all unauthorised
fraud was successfully thwarted by UK
financial institutions. ukfinance.org.uk
New P2PFA member
CROWDPROPERTY has become the newest
member of the P2PFA, bringing the body’s
membership back up to nine. Latest data
from the P2PFA reveals that the industry
contributed more than £1 billion to the UK
economy in the second quarter of 2018. New
lending to businesses by members of the
P2PFA has grown by almost £100 million
quarter-on-quarter over the course of the last
year, reaching nearly £750 million in the Q2
2018. p2pfa.org.uk
Barclays PPI error
BARCLAYS has apologised after it told
a number of customers using claims
management firms that they did not hold PPI
policies when they did. Barclays says a ‘very
small’ proportion of customers were given
incorrect information. It added that it is
‘proactively contacting’ affected customers to
make amends. barclays.co.uk
THE Information Commissioner’s
Office (ICO) has issued Equifax Ltd
with a £500,000 fine for failing to
protect the personal information of
up to 15 million UK citizens during a cyber
attack that took place in the summer of 2017
in the US and affected 146 million customers
globally (see Credit Management news
December 2017).
The ICO investigation found that although
the information systems in the US were
compromised, Equifax was responsible
for the personal information of its UK
customers. The UK arm of the company
failed to take appropriate steps to ensure
that its American parent Equifax Inc, which
was processing the data on its behalf, was
duly protecting the information.
The ICO’s investigation, which was carried
out in parallel with the Financial Conduct
Authority (FCA), revealed ‘multiple failures’
at the credit reference agency that led to
personal information being retained for
longer than necessary and vulnerable to
unauthorised access.
The company contravened five out of
eight data protection principles of the
Data Protection Act 1998 including failure
to secure personal data, poor retention
practices and the lack of a legal basis for
international transfers of UK citizens’ data.
Elizabeth Denham, the Information
Commissioner, says the loss of personal
information where there’s the potential for
financial fraud undermines consumer trust
in digital commerce: “This is compounded
when the company is a global firm whose
business relies on personal data. Equifax has
received the highest fine possible under the
1998 legislation because of the number of
victims, the type of data at risk and because
it has no excuse for failing to adhere to its
own policies and controls as well as the law.”
The ICO found measures that should
Brits doubt ability to clear debts
ALMOST a third of British people don’t
believe they will ever clear their debts,
according to new research by Equifax. The
same research also found that 12 percent of
people do not think they can even reduce
their debt levels. Young people are the most
pessimistic with only half of 18-24 year-olds
confident they can clear all of their debts.
The findings are published in the context
of statistics released by StepChange that
show that 326,897 people contacted the
charity for help with their debts in just the
first six months of 2018. In its latest Mid-
Year Update, of the 180,644 who received
full debt advice and a recommended
debt solution, two thirds were under 40,
have been in place to manage the
personal information were ‘inadequate
and ineffective’. Investigators unearthed
significant problems with data retention,
IT system patching and audit procedures.
The investigation also found that the US
Department of Homeland Security had
warned Equifax about a critical vulnerability
as far back as March last year. Sufficient
steps to address the vulnerability were not
taken, meaning that a consumer facing
portal wasn’t appropriately patched.
The personal information lost or
compromised during the incident ranged
from names and dates of birth to addresses,
passwords, driving licence information and
financial details.
“Many of the people affected would not
have been aware the company held their
data. Learning about the cyber attack
would have been unexpected and is
likely to have caused particular distress.
Multinational data companies like Equifax
must understand what personal data they
hold and take robust steps to protect it. The
Boards need to ensure that internal controls
and systems work effectively to meet legal
requirements and customers’ expectations.
“Equifax showed a serious disregard for
its customers and the personal information
entrusted to it, and that led to this
substantial fine.
An Equifax spokesperson said it has
received the Monetary Penalty Notice from
the Information Commissioner’s Office (ICO)
and is considering the detailed points made:
“Equifax has cooperated fully with the ICO
throughout its investigation, and we are
disappointed in the findings and the penalty.
The criminal cyber attack against our US
parent company last year was a pivotal
moment for our company. We apologise
again to any consumers who were put at
risk." ico.org.uk
compared to only one third of the UK
population falling into this age group. Only
18 percent of clients were home-owners,
against around 62 percent of the general
population. Around half of its clients
experienced debt because of job loss,
reduced income, or health issues.
In the first half of 2018, over 30 percent
of the Charity’s new clients were behind
on their council tax – by far the highest
category of debt arrears. Almost half (48
percent) of new clients in the first half of the
year with council tax arrears had a deficit
budget – with more money going out than
coming in – compared to just 30 percent of
all clients. stepchange.org
The Recognised Standard / www.cicm.com / November 2018 / PAGE 8

Consulting ban for big four
ACCOUNTANCY firms could be banned from
doing consultancy work for companies
whose books they check, according to
the ‘Developments in Audit’ report, by the
Financial Reporting Council (FRC). It said
the Big Four auditing firms – Deloitte, EY,
KPMG and PwC – frequently give lucrative
consultancy services to large corporates
whose books they also check, prompting
worries that they may not provide sufficient
challenge to the management of such
companies when auditing them.
It said it would review its own guidelines
for auditing and ethical standards, which
currently allow the firms to undertake both
HOIST Finance has entered into an
agreement to acquire an Italian credit
management company, broadening its
offering to the Italian banking sector.
The agreement will see Hoist lease and
subsequently acquire the business as a
going concern of the Italian debt collection
companies Maran S.p.A. and R&S S.rl.
(Maran Group) in a multistep process, in
co-operation with creditors (concordato
preventivo) in accordance with Italian
insolvency law.
Founded in 1993 Maran Group
is described as a well-reputed debt
collection agency with a customer base,
including the larger Italian banks and
financial institutions. The Maran Group
has one operational centre employing
approximately 200 people. Completion
of the acquisition is subject to certain
conditions and is expected to take place
during the first half of 2019.“The acquisition
of the Maran Group will add capacity and
competence to our current activities in Italy
auditing and consultancy for clients at
the same time. The document highlighted
growing concerns from firms about audit
quality in the wake of scandals such as
KPMG’s involvement in Carillion’s collapse.
But the FRC itself is under pressure
from the government after a review into the
organisation’s role and effectiveness began
in June, following accusations from the
Work and Pensions Committee that it was
‘toothless and useless’. The independent
review is being led by Sir John Kingman,
Chairman of Legal and General and
former second permanent secretary to the
Treasury. frc.org.uk
TESCO hit for 'avoidable' attack
THE Financial Conduct Authority (FCA) has fined Tesco Personal Finance (Tesco Bank)
£16.4 million for failing to exercise due skill, care and diligence in protecting its personal
current account holders against a cyber attack that took place in November 2016.
Cyber attackers exploited deficiencies in Tesco Bank’s design of its debit card, its financial
crime controls and in its Financial Crime Operations Team to carry out the attack.
Those deficiencies left Tesco Bank’s personal current account holders vulnerable to
a largely avoidable incident that occurred over 48 hours and which netted the cyber
attackers £2.26 million. fca.org.uk
Hoist set to acquire Italian business
and create an integrated servicing platform
that enables us to be a full-service debt
restructuring partner to the Italian financial
sector,” says Klaus-Anders Nysteen, CEO of
Hoist Finance.
“Following the acquisition, we will be
able to offer the full spectrum of services
sought after by the Italian banking sector,
providing both servicing and portfolio
acquisitions. The acquisition will also
broaden our competence in other asset
classes,” says Clemente Reale, Country
Manager Hoist Finance Italy.
hoistfinance.com
Following the
acquisition, we will be
able to offer the full
spectrum of services
sought after by the
Italian banking sector.
>NEWS
IN BRIEF
MEAT AND TWO VEG
BIBBY Financial Services has provided a
£5 million Invoice Finance facility to
Nigel Fredericks Trading, a London
-based meat wholesaler.
The long-standing business was founded
in 1890 and sells high-quality meat,
poultry and game to catering clients.
bibbyfinancialservices.com
Full Octane
OCTANE Capital has appointed Donna-
Louise House as Senior Credit Manager
who will report to Matt Smith, Director of
Risk. Donna-Louise started her career in
credit risk at GE Capital before moving
onto Shawbrook Bank, where she was a
Lending Manager in the short-term loans
division. More recently she worked at
LendInvest for two years as underwriting
manager followed by a short stint at
Falcon Bridging Finance, as Head of
Underwriting. octanecapital.co.uk
Breaking the rules
THE Competition and Markets Authority
has said it is taking action against Lloyds
Banking Group after the lender failed to
tell thousands of customers about their
right to cancel their PPI. The watchdog
said it was taking action against Lloyds
for ‘serious breaches’ after it failed to
remind 14,000 customers between 2012
and 2018 that they still have a policy
and can cancel it. A spokeswoman
for the bank, which has paid over £18
billion in compensation claims over
mis-sold PPI, said it was writing to all
affected customers to apologise. gov.uk/
government/organisations/competitionand-markets-authority
RBS challenges
ROYAL Bank of Scotland is looking to
launch a standalone digital-only bank
called Bo as a rival to challenger banks
such as Monzo, Revolut and Starling. It
is expected to launch in 2019, with the
aim of migrating one million NatWest
customers to the mobile platform. Bo is
expected to utilise artificial intelligence
(AI) to help customers manage their
financial affairs. personal.rbs.co.uk/
personal.html
CICM IN BRIEF
THIS month's briefing includes details of
the first AGM and conference of the Ireland
Branch of the CICM, best practice on deduction
recovery, five ways to inspire a learning culture,
and the 12th Annual European AML and
Financial Crime Conference.
The Recognised Standard / www.cicm.com / November 2018 / PAGE 9

Construction growth
slips to six-month low
>NEWS
IN BRIEF
GROWTH in UK construction hit
a six-month low in September,
according to the latest Purchasing
Managers’ Index (PMI). The IHS
Markit/CIPS UK Construction PMI slipped
to 52.1 in September, down on 52.9 in
August and against the neutral 50-point
benchmark.
Civil engineering was the worst
performing sub-category, and while housing
and commercial construction increased at a
solid pace, the index signalled the weakest
upturn in output for six months.
Delivery times for construction products
and materials continued to lengthen and
intense supply chain pressures were
attributed to stock shortages at vendors and
stretched transportation capacity. However,
the downturn in vendor performance was
slightly less marked than the three-and-ahalf
year low seen in August.
There was a sharp and accelerated
increase in average cost burdens in
September, with the overall rate of input
price inflation the fastest for three months.
Respondents cited higher fuel prices and
greater raw material costs, particularly
timber.
The degree of positive sentiment reported
by respondents was the second-lowest since
February 2013, amid political uncertainty
and investor concerns about Brexit.
The end of the third quarter saw a mild
improvement in the performance of the UK
manufacturing sector. Rates of expansion
in output and new orders gained traction,
while the trend in new export business saw
a modest recovery following August's solid
contraction.
Elsewhere, the latest edition of the
‘Economic & Construction Market Review’
from Barbour ABI shows the residential
sector continues to flourish. In August,
contract values were £2.2 billion, accounting
for 36.2 percent of all contracts awarded.
However, this is still some way behind the
recent peak of March 2018 when £2.4 billion
contracts – including 25 percent more
residential units – were awarded.
The infrastructure sector saw award
values exceed the £1 billion threshold
for the first time in six months, with the
current quarter being 6.8 percent ahead of
2017. Boosted by a number of large utilities
contracts, infrastructure led the table of
the biggest value contract awards across
construction with five of the top ten projects
for August being from this sector.
Meanwhile, the latest Global Economic
Conditions Survey (GECS) from ACCA
(the Association of Chartered Certified
Accountants) and IMA (Institute of
Management Accountants) has revealed
economic confidence in the UK has dipped
to its lowest level since the second quarter
of 2017. ihsmarkit.com barbour-abi.com
accaglobal.com
Fraud hits the younger hardest
CIFAS has released new figures that show
a marked increase in the number of young
people falling victim to identity fraud.
The new figures reveal that Cifas
members identified a 24 percent increase
in cases of under-21-year-olds falling
victim to impersonation fraud in the first
nine months of this year, a significant rise
from the same period in 2017. The majority
of fraud for under-21s related to plastic
payment cards – such as bank, debit, credit
or store cards – with 34 percent of all cases
reported in that sector, a 79 percent increase
in the past year.
Cifas has also reported a steep rise in the
number of young people acting as ‘money
mules’, with a 26 percent rise in reported
incidences in those aged 21-and-under
between 2017 and 2018. So far in 2018, 9,636
under-21 money mule perpetrators were
identified in the UK by Cifas members.
On behalf of the Home Office-led Joint
Fraud Taskforce, Cifas recently launched
new lesson plans with the PSHE Association
to educate young people about how
serious money mule fraud is. The lesson
plans also provide young people with an
understanding of the protective behaviours
needed to keep themselves safe from online
scams and identity fraud more widely.
Mark Carney
Governor of Bank of England
Risky business
A survey by the Bank of England
(BoE) has found just one in ten banks
are managing climate risks for the
long-term. Mark Carney, the Bank’s
Governor, said lenders need to do more
to ensure they are better prepared to
mitigate environmental risks. The
survey found that 70 percent of lenders
were managing risks in some way,
while 30 percent considered climate
change a corporate social responsibility
matter rather than a strategic issue.
bankofengland.co.uk
Fake invoices
THE Boss of a financing company has
received a ten-year ban after heading
a false invoice scheme to secure £4
million of illegitimate funds. David
Andrew Marsden was the director
of finance company First Capital
Factors (FCF). The company offered
recourse factoring facilities for small
and medium businesses. To be able to
purchase their clients’ invoices, FCF
secured funding from other companies.
However, one of FCF’s funders spotted
irregularities within FCF’s portfolio and
sought advice from a business advisory
firm in August 2016, who agreed with
these concerns.
The funder used its statutory right
as a fixed charge holder to appoint an
administrator and following further
enquiries, it was discovered that David
Marsden instructed a number of his
clients to produce false invoices, before
he submitted them to FCF’s funders to
secure illegitimate funds.
gov.uk/government/organisations/
insolvency-service
Northern Gaze
THE Scottish specialist lending market
is set to double in size next year due to
the influx of new lenders with much
improved criteria, product choice and
rates, according to Your Expert Group.
The specialist finance broker said that,
due to a saturated specialist lending
sector in England, challenger banks
and alternative finance providers were
looking at new markets.
The Recognised Standard / www.cicm.com / November 2018 / PAGE 10

SMES appear unwilling to borrow
ALMOST two thirds of UK small- and
medium-sized enterprises (SMEs) are
not willing to borrow money to fund the
expansion of their business, amid ‘subdued’
attitudes towards external financing,
according to the latest ‘BDRC SME Finance
Monitor’.
Just 34 percent of SMEs were using
external finance in the second quarter of
this year. During the same period last year,
38 percent of SMEs said that they were
using external financing.
However, although fewer SMEs are
seeking funding, the approval rate for
funding applications is rising. By the end
of August 2018, 85 percent of business loan
applications were approved, compared with
78 percent by the end of August 2017.
“The latest data continues to show a
clear trend that demand rather than supply
issues are predominately contributing
to continued lower levels of lending to
SMEs,” says Keith Morgan, Chief Executive
of British Business Bank. “This suggests
smaller businesses could benefit from
being encouraged and enabled to seek out
the finance best suited to their needs.”
High Street banks remained the primary
source of SME funding, according to the
BDRC report, with 67 percent of loan
applications made to a main bank. Only
17 percent of applications were made to
another existing provider, while just seven
percent were made to a new provider. Four
percent of loan-seeking SMEs chose to
use an online platform, while five percent
went ‘elsewhere’. The BDRC data suggested
that SMEs are not being put off by the
scarcity of financing options, with just five
percent indicating that access to finance
was a major barrier. Legislation and red
tape, political uncertainty and the current
economic climate were instead listed as
the major hurdles to business growth by
British SMEs. bva-bdrc.com/products/smefinance-monitor
Future leaders struggling to cope
THE latest Aldermore Future Attitudes
study has revealed that a third (33
percent) of bosses at UK small and
medium-sized enterprises (SMEs),
equating to 1.81 million firms with fewer
than 250 employees, have personally
suffered from anxiety, depression or
another kind of mental health problem in
the past five years.
The report, which surveyed more than
1,000 business decision-makers across
the UK, found that of those business
leaders who have struggled with poor
mental health, over three quarters (78
percent) believe this has affected their
ability to work effectively. A further three
fifths (61 percent) also admitted that
their involvement in their business was
a factor that contributed towards their
problems.
The most common catalyst for mental
health issues amongst SME bosses was
a loss of business revenue or decreasing
profits (40 percent). This was closely
followed by key debtors not paying on
time (30 percent) and insufficient working
capital (29 percent). Aldermore’s figures
show an average of 28 working days are
lost every year, equating to over 185 hours
for each SME. Despite this, almost a
third (30 percent) of UK business leaders
believe that their organisations do not
provide adequate mental health support
in the workplace. Nearly two in five (37
percent) also think the Government could
do more in this space. aldermore.co.uk
The most common
catalyst for mental
health issues amongst
SME bosses was a loss
of business revenue
or decreasing profits
(40 percent). This was
closely followed by key
debtors not paying on
time (30 percent)
>NEWS
IN BRIEF
MAKING ITS MARC
GOLDMAN Sachs has made its UK retail
banking debut through its Marcus digital
banking brand. Marcus – named after
founder Marcus Goldman – offers an
interest rate of 1.5 percent, which apparently
represents the best rate on the market, and
has a minimum saving level of £1.
marcus.co.uk
New Director
IRISH peer-to-peer platform Initiative
Ireland has appointed Brian Ó Nualláin
as Director of Investment and Wealth
Management. He was previously Business
Development Director for Ireland at
Aviva Investors. Initiative Ireland sets
up syndicates of loans for P2P lenders to
fund and back residential development
projects. In December 2017, the platform
raised €1.5 million for a loan to North
Strand Five Lamps for a development in
Dublin – said to be the country’s largest
P2P loan to date. The firms said its senior
debt fund, which has an initial target raise
of €35 million (£31.2 million) and a cap of
€150m, will finance additional loans via the
company’s syndicated finance platform.
initiativeireland.ie
Crypto regulations
THE Government needs to introduce
new regulations to protect investors
from crypto-assets, the Treasury Select
Committee says in its latest report. The
report states the two major concerns for the
Committee are initial coin offerings (ICO)
and money laundering. It also argues that
the Government needs to decide whether or
not it wishes to encourage the asset class
to grow, as new regulations would both
protect and attract investors to develop
their portfolios. The report highlights the
dangers of ICOs which have exposed a
regulatory loophole and needs amending
promptly. Currently, it appears there is little
the FCA can do to prevent investors from
being defrauded or suffering significant
losses other than presenting the risks that
the individual is exposed to. Due to ICOs
falling outside of the regulatory perimeter,
the committee encourages the Regulated
Activities Order (RAO) to be updated and to
include ICOs as ‘a matter of urgency’. This
process would involve recognising ICOs as
a regulated activity and that a body such as
the FCA monitor such activities. This has
previously been done with crowdfunding.
brc.org.uk
At a cost
A report from Citizens Advice shows that
loyalty to providers of essential services
including banking, insurance and telecoms
is costing consumers more than £4 billion a
year, with the charity raising the issue with
the Government’s Competition and Markets
Authority. citizensadvice.org.uk
The Recognised Standard / www.cicm.com / November 2018 / PAGE 11

INSOLVENCY
Individual Voluntary
Arrangements (IVAs)
Are IVAs a good deal for creditors?
AUTHOR – David Kerr MCICM
David Kerr
IVAs were introduced into the
insolvency legislation in England
and Wales in 1986 and have
been a feature of the personal
insolvency landscape ever since,
though the take up was modest
to start with. They now account for more
than 50,000 new cases each year and have
overtaken bankruptcy as a procedure of
choice for debtors in financial difficulty.
But what factors determine whether they
enter an IVA or some alternative debt
resolution process? And, what about
creditors’ interests?
The IVA market has changed
considerably; it is now the preserve of
a small number of specialist service
providers, usually corporate organisations
focusing solely on running IVAs. In
2017, just ten providers accounted for 80
percent of all the new IVAs started. These
corporates are in the main not traditional
insolvency firms, and the insolvency
practitioners (IPs) in them may not
be principals, but instead employed
managers of cases – though of course the
law requires a licensed IP to be in control.
This brings challenges for regulators.
LATEST REPORT
In September, the Insolvency Service
(IS) published a report of its review of
how regulation is working in this area,
and how well it meets the regulatory
objectives and serves debtors’ interests.
It raised some interesting issues, many of
which are already being addressed, but
strangely its focus was less on creditors’
interests than may have been expected.
Sure, creditors get a mention in the
context of whether fees and expenses are
fair and reasonable for example, but the
main attention (understandably perhaps)
was on regulators and the impact
on debtors. In choosing an IVA, the
regulatory microscope is trained on what
is best for the debtor, rather than returns
for creditors.
It is true of course that the creditors
in most consumer IVAs are financial
institutions, which are well organised
in terms of voting and representation
generally, and it should be said that the
report is concentrated on these supposed
straightforward consumer cases, not the
occasional bespoke IVAs conducted by
more traditional IP firms. But creditors
do have a say, and notwithstanding
imperfections in the handling of high
volume IVA cases they often prefer an
IVA to the alternatives. A bankruptcy is
likely to cost more and produce less for
creditors.
The IS looked at the volume top
ten through the eyes of the regulators,
and their monitoring and regulation
measures. For the most part, the
monitoring visit processes were found
to be satisfactory, but the IS quibbled
about steps taken subsequently by the
regulators’ committees – whether they
were robust enough in terms of sanctions,
publicity and remedial action.
REGULATORY ACTION
The monitoring process has hitherto
largely been geared towards the regulator’s
ongoing assessment of an IP’s fitness to
act. This means outcomes from inspection
reports have tended to look forward, and
place emphasis on steps being taken to
address any defaults in an IP’s (or his/her
firm’s) systems and procedures. The IP’s
response to visit findings has therefore
been important in that assessment,
and where appropriate regulators have
relied on assurances given, re-testing as
necessary.
It should not be the case that every
issue of non-compliance or conduct at a
level other than optimal or best practice
be reported for disciplinary action; that
would change the whole characteristic
of the monitoring programme, which has
played an important and successful part
in raising and maintaining generally very
high standards among UK IPs.
It is different, of course, if there are
what the IS calls ‘significant’ adverse
consequences for sometimes vulnerable
debtors, where for example they have
suffered some identifiable loss as a result
of an act or default by an IP. Here the IS
suggests there should be some unspecified
remedial action (e.g. in relation to advice
given at the outset), while recognising the
difficulty and limits of what is practically
possible; and what about creditors’
views? Suppose a debtor entered into an
IVA when he or she might have filed for
bankruptcy instead? If a consequence
of a debtor paying creditors over a fiveyear
period in an IVA is that he or she
parts with more cash to repay debts than
would be the case in a bankruptcy, then
can it really be said that is a bad outcome
for creditors, provided the repayment
obligation is affordable and sustainable?
But creditors do have a
say, and notwithstanding
imperfections in the
handling of high volume
IVA cases they often prefer
an IVA to the alternatives.
CREDITOR CONFIDENCE
The financial institutions, usually
through agents appointed to act on their
behalf, vote on IVA proposals and on the
costs and charges incurred in those cases.
There is, though, a presumption that they
are provided with accurate information
in a transparent way. Where that is found
not to be the case, then regulators must
act to maintain trust in the profession.
There is also a strong case for regulators
to publish more information about the
regulatory steps they have taken, as this is
vital for creditors if they are to play their
full part in controlling costs etc and to
ensure they can have confidence in the
regulatory system.
David Kerr MCICM is an insolvency
practitioner with extensive regulatory
experience.
The Recognised Standard / www.cicm.com / November 2018 / PAGE 12

OPINION
Empty promises
What the two main political parties said about
business during their recent conferences.
AUTHOR – Kevin Reed
Kevin Reed
IN the dense fog that is Brexit, it
might have been easy to overlook the
recent information and direction
of travel coming out of the current
government’s and opposition’s party
conferences.
But there was enough content, ideas
and tone for it to be well worthwhile a fewhundred
words of my writing – and a few
minutes of your time to digest.
Let’s start with Theresa May’s speech.
Perhaps understandably (and pragmatically),
speaking from power means that it’s easier
to lean on rhetoric, along with details of
‘life-changingly positive’ actions taken in
the recent past. Oh, and putting the boot in
against the opposition’s speeches from a week
earlier.
And there was no shortage of any of those
elements in the Prime Minister’s keynote.
She spoke of reducing ‘the deficit by
four-fifths’, following Labour Government
borrowing during the banking crisis.
Although she failed to mention that the
budget deficit target was two years’ behind
schedule – and further targets set by former
chancellor George Osborne, namely to meet a
surplus including investment by 2020, seem
way off.
The speech meandered around antinationalisation,
and improved infrastructure
spending to boost the economy. The latest
iteration of the UK Corporate Governance
Code, which includes ‘comply or explain’
requirements to improve the workers’ voice
in the boardroom, was also touched upon. For
a factory worker in Sports Direct or Amazon
– where working practices have been heavily
criticised – one wonders if such a statement
will have any resonance at all, or if the rule
change will have any impact.
For opposition shadow chancellor John
McDonnell, well, you would expect punchier
and (hope for) more focused announcements.
The key corporate announcement was,
as you’d expect from Labour, focused on
disseminating profits among workers – but
with those workers also having more rights
and ownership of the business they work in.
Large businesses would have to transfer
up to 10 percent of shares into an ‘inclusive
ownership fund’. Dividend payouts would be
capped at £500 per worker, and any surplus
paid into government coffers.
What would effectively be a new levy on
private business, some £2 billion, is predicted
to be transferred annually. From a positive
point of view, it’s a clear initiative by Labour
to align employees with both the actions of a
company, and its performance.
US research earlier this year (Inequality.
org) found employee-owners have a third
higher median income, and median
household net wealth is 92 percent higher
for employee-owners compared to nonemployee-owners.
But employee, or shared,
ownership is not a magic bullet and doesn’t
guarantee corporates’ fortune.
After years of double-digit growth and
bonuses for its partners, both Waitrose and
John Lewis brands shed thousands of jobs last
year. Structural and competitive headwinds
in retail and department store markets finally
caught up with them. The fabled staff bonus
is now single-digit.
For the CBI, demarcating 10 percent of
shares would ‘hobble UK’s ambitions on a
global stage’ and reduce the value of shares
held by ‘ordinary people’.
“At a time of great uncertainty, this
is no way to build the foundations of
competitiveness and productivity that will
improve people’s lives,” said CBI directorgeneral
Carolyn Fairbairn in response.
May pointed out that McDonnell’s plan was
a ‘giant stealth tax on enterprise’. However,
May also spoke of employees – improving
rules so those in the gig economy can’t have
their ‘workers’ rights undermined’. But for
entrepreneurial sole traders and flexible
freelancers in Britain, they could well point
out that the way they are treated for tax and
employment purposes is the worst of both
worlds: the Government pushing to tax them;
employers unwilling to give them employee
rights. ‘Employed or self-employed’ tax
rule IR35 was, of course, absent from May’s
speech. It’s worth pointing out that people
have taken to working flexibly to improve
their situation and manage increasingly
complex lives. The number of self-employed
and freelancers stands at five million, from
3.3 million in 2001.
Freelancers and small business
contractors – those looking to find ways to
create new products and services as quickly
and as mobile as possible, were absent from
both keynotes. In a nation full of ideas and
enterprise, there was little in the way of new
or coherent thinking from the two parties.
Kevin Reed is a freelance journalist and
former editor of both Accountancy Age and
Financial Director.
The Recognised Standard / www.cicm.com / November 2018 / PAGE 13

HIGH COURT ENFORCEMENT OFFICERS ASSOCIATION
Educating the bailiff
Enforcement against goods is still a blunt instrument.
AUTHOR – Andrew Wilson MCICM
ENFORCEMENT against
goods is a blunt instrument
more suited to the 19th
than the 21st Century,
when putting a man in
possession was still a
common practice. Before the days of
walking possession, it made economic
sense to actually have a possession man
billeted in the debtor's home or business
until payment in full was made. These
gents had questionable personal habits
and hygiene and were a strong incentive
to settle up, if only to get them off the
premises! They were paid in cash on a
Friday afternoon, when they all trooped
into the office and the female staff were
sent home at lunchtime to avoid any
possible contact with them.
Things really changed after the Second
World War, when walking possession
became the norm, but I am far too young
to remember any of this.
Taking Control of Goods, introduced
in April 2014, is really not much different;
we have controlled goods agreements
instead of walking possession, more
provisions about vehicles (as cars are
often a debtor's main asset after his
house) and the ability to secure all or
part of a debtor's premises (but, sadly,
without possession men). However, the
main leverage is still removal and sale of
a debtor's goods.
One thing that has changed is
that bailiffs are better educated, as is
reflected in the ‘new’ title of ‘certificated
enforcement agent’. They must have
passed a Level 2 exam in Taking Control
of Goods to be granted a certificate by a
District Judge (if he/she considers them
as a fit and proper person). Level 2 is the
equivalent of GCSE A* to C (now 9 to 4)
and many European enforcement agents
are required to be university graduates.
It’s some progress, but a small step.
That is why CICM and other institutions,
such as Chartered Institute of Legal
Executions (CILEX), are now offering
a Level 3 (A Level) qualification in
Advanced Enforcement. All High Court
Enforcement Officers Association
(HCEOA) members will be encouraged
to make this qualification a requirement
for their bailiffs in the field and their
more senior administrative staff. Better
training and qualifications enable
High Court bailiffs to confidently deal
with more articulate debtors and their
representatives.
The Level 3 qualification also has
the benefit of being a relevant starting
point for those wanting to become
High Court Enforcement Officers, as
Level 3 is the requirement for aspiring
candidates starting the Level 4 (1st Year
Undergraduate) Diploma course with
CICM, which is the academic requirement
to apply to become authorised.
Like solicitors and accountants, there
is also a practical side, based on a twoyear
training contract, with evidence of
competence shown in a Training Log.
TOOTHLESS TOOL
This all helps, but enforcement against
goods is still a blunt instrument, with the
bailiff knowing little or nothing about
the debtor at the address to which he has
been directed.
The answer must be access to
information about debtors. But this must
be made available only after judgment
and be carefully restricted to those
instructed through the courts, ensuring
that otherwise strictly confidential
information does not end up in the
public domain.
That would certainly ‘Stop the Knock’
in many cases, as one of the other six
methods of enforcing a judgment could
be used with is more suited to the debtor's
circumstances.
This is doable, as demonstrated by
how easy it is to tax your car. By joining
up the DVLA, MOT and Insurance
Company databases, you can complete
the process with a card payment, in a
matter of minutes.
Is it likely to happen in the near future?
The industry is making good progress in
this area, but there is still some way to go.
Andrew Wilson MCICM is Chairman
of the High Court Enforcement Officers
Association (HCEOA).
The Recognised Standard / www.cicm.com / November 2018 / PAGE 14

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The Recognised Standard / www.cicm.com / November 2018 / PAGE 15
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CICMQ
CICMQ serves up a treat
The Silver Spoon Company
ONE of the UK’s leading
sugar, baking and treats
brands, The Silver Spoon
Company, has achieved
CICMQ accreditation
after excelling in a
number of key areas during assessment.
Among the achievements, Silver Spoon’s
credit control team of three reduced the
company’s debt to an all-time low in this
financial year.
Founded in 1994, the company has
its own portfolio of leading UK brands
including Silver Spoon, Billingtons and
Truvia. The Silver Spoon Company works
with farmers in the East of England to
grow their own sugar beet.
Gary Auckland, Customer Service Team
Leader at The Silver Spoon Company,
says the accreditation has allowed the
company to review and improve its
procedures, and improve the way it reports
information to the wider business: “We
have seen considerable results since we
implemented the changes, which has been
recognised by all at Silver Spoon.”
Top Marks for Imperial
Imperial College London
IMPERIAL College London, one of the
world’s leading universities, has achieved
CICMQ accreditation, demonstrating the
College’s continued excellence in meeting
the CICM’s standard of Quality in Credit
Management.
Imperial College London is a world
top ten university with an international
reputation for excellence in teaching and
research. It is home to 17,000 students and
8,000 staff, who come from more than 100
countries across the world.
Gavin Jones FCICM, Head of Income at
Imperial College, says documentation was
integral to the assessment process: “Over
the years, the College has adapted to the
ever-diversifying types of business and
multiple income streams it works with.
Processes, policies and systems have
had to improve to accommodate this,
and unifying these processes was a key
challenge.
“As part of the CICMQ process, we
have committed to providing training
and development opportunities for staff,
and currently have eight members of the
income team working towards various
levels of CICM qualifications.”
Better connected
with CICMQ
EQUINIX has become CICMQ accredited
for the first time, and since then it has
been selected as one of the Finance
department’s key achievements this
year.
As one of the world’s leading
colocation data centre providers, the
company has stakeholders that are
not only based across 20 European
countries, but also in America and
APAC. CICMQ is one aspect that has
helped it to raise the profile of the credit
department.
“The CICMQ journey allows an
independent credit professional to
review processes, procedures and the
overall operation of the department and
provide feedback. It is only by having
that expert view from the outside do
you really receive a true assessment
of where you sit within a best practice
benchmark,” says Nick Williams MCICM,
Senior Manager (EMEA), Credit and
Collections Equinix.
High five for
Aggregate
AGGREGATE Industries has joined
the most elite group of CICMQ
accredited companies by achieving
re-accreditation for the fourth time.
Aggregate Industries is at the
forefront of the construction and
infrastructure industries. With over 330
sites and more than 4,100 employees,
it produces, imports and supplies
construction materials, exports
aggregate and offers national road
surfacing and contracting services.
Having completed CICMQ assessment
for the first time in 2010, Aggregate now
has a full-time equivalent of 34 in its
credit services team, a number of whom
are undertaking Level 3 and Level 5
exams.
“CICMQ re-accreditation enables
us to differentiate ourselves from our
competitors and demonstrate to our
business that we are adding value
and that the support we give them is
a recognised high standard,” says Phil
Rice FCICM, Head of Credit, Aggregate
Industries. “It also allowed us to
benchmark ourselves and share best
practice with other CICMQ accredited
companies.”
The Recognised Standard / www.cicm.com / November 2018 / PAGE 16

ADVERTORIAL
The benefits of implementing
a ‘Two Supplier’ strategy
AUTHOR – Michael Higgins
FOR many businesses,
the idea of using a single
outsourced supplier to assist
with credit management
remains a relatively new
concept, let alone using
two. But the ‘‘Two Supplier’’ strategy
can have significant benefits in creating
choice and flexibility, improving quality,
strengthening contingency plans and
competitive pricing.
CHOICE AND FLEXIBILITY
Whether it be a trace agent or High Court
Enforcement Officer, the two supplier
strategy is one that has allowed Lovetts to
compare service levels and performance,
ensuring we maximise and enhance our
debt collection success over the years.
Equally, as a supplier of debt recovery and
legal services we have always been happy
to work in this way, recognising that the
different strengths and perspectives the
firm and indeed our competitors provide
offer different ways of doing things.
IMPROVED QUALITY
A study by ISG Director Michael Kushner
describes the use of multiple suppliers
as an ‘agile’ practice and one that has
evolved from a maturing outsourcing
market. Sarah Burnett, research director
for Public Sector BPO at Nelson Hall, says
that the introduction of a second supplier
represents ‘‘a desire to adopt best-of-breed
for a particular process or domain and
ensure access to superior capability’’.
In other words, healthy competition is
still a key driving force behind business
innovation.
STRONGER CONTINGENCY PLAN
Having two or even more suppliers
offering the same service allows
companies to better protect themselves
against unforeseen circumstances, e.g.
if a supplier goes out of business or they
are unable to supply what was agreed at
the last minute. It’s another reason why
an increasing number of companies have
made it a companywide policy to always
contract two suppliers for the same
service.
COMPETITIVE PRICING
And of course, having multiple providers
in the same area can only help with costefficiencies.
The common apprehension
here is that this practice implies ‘playing
one party off against the other’ to drive
down costs, but this is not necessarily the
case. By assessing what individual service
providers are delivering in a professional
and impartial way, you’ll be able to better
understand where third-party investments
are most effectively being made.
Ultimately, being open to a two
supplier service strategy and beyond
keeps your business open for growth and
development, and it’s a way of working
that Lovetts is experienced in both as a
buyer and as a service provider ourselves.
Michael Higgins,
Managing Director, Lovetts.
Do your customers owe you money?
At Lovetts Solicitors, we’re here to help
you formally recover your business debts.
With over 20 years experience in all
aspects of debt collection and recovery,
we know exactly how to help you.
Lovetts
solicitors

OPINION
THE PRICE
IS RIGHT?
Solicitors are to publish pricing
online from December but will this
limit choice?
AUTHOR – James Perry
WORKING life as
a debt recovery Solicitor
is a rich tapestry of
clients whose business
threads are every imaginable
colour, debtors
every imaginable material and chances of
success (based on numerous other variables)
every imaginable shape and size. That variety,
which I get to enjoy every working day, is the
reason why I do what I do. How then, I ask myself,
as I read the Solicitors Regulation Authority
(SRA) guidance published on 2 October am
I going to maintain client choice (and act in
my client’s best interests) to accommodate all
sectors and all debt types when I am forced by
the SRA to publish my pricing online in
December?
My clients are not numbers to me. They
are each unique and I want to be able to treat
them as such so I can properly look after them
by pricing accordingly. Some of you might say
well of course he doesn’t want to publish his
figures, but believe me there is far more to this
than that. The big problem is the number of
products I sell, all of which are individual and
unique depending on my client. I fully support
transparency, but exactly how am I going to
price for the client who pulls up in a truck
with papers strewn in the back and gives no
explanation, while at the same time also pricing
for the client who sends me the info as data that
plugs straight into my case management system
and automatically generates that first letter?
How do I then price for everyone in between?
I’m normally quite good at this sort of
problem but today’s riddle is baffling. If I pick
a mean average to simplify things and make
my life easy then my really good clients, who
do everything they are told, are going to suffer
because the not so good ones will always
increase the average cost. Everyone naturally
quotes for that worse-case scenario because we
know the bad job will always drain the profit
out of the good jobs. Solicitors are of course
naturally risk-averse and intimately aware of
the potential risks. That kind of awareness
will also drive up a price where there could be
problems. It means I have to caveat everything
I price to get my point across but then that just
begins to look messy. This is evidenced by my
waste paper basket which is overflowing with
drafts at the moment!
DRAWING BOARD
I think a big rethink is seriously required that
takes full account of all the practical problems.
There needs to be an understanding that we are
trying to balance a great number of things here.
If a solution to a problem is not always going
to be linear then it should never be treated as
being linear. We need to step back and think
carefully about whether publishing low fees
just to win work will put teams out of business
(and/or ruin good service levels) or alternatively
whether publishing high fees will put people
off completely and mean people choose not
to access justice. These rules will certainly
damage net recoveries because instead of me
listening to a future client and bending to their
needs (as I do now), they will have no choice
but to accept what we think might work, and
we will have to stick to what we have published
on our websites. Unfortunately, the publishing
of prices locks you in to that price and I think
that makes the whole thing too rigid. The
customer’s needs will no longer be able to come
first because the regulations will get in the way
of the principle. This is what happens when we
start treating services as pure products; where
the dividing lines have to be set.
For example, how will a procurement
exercise work? It looks as though it will be
pretty short and sweet because if you want to
drive a price down for a service caught by the
regulation then you can only drive it down as far
as the price that is published by the lawyer on
their website. If you wanted to offer something
lower wouldn't the lawyer have to amend the
website first, and then wouldn't they start to get
a barrage of calls when they do from existing
clients paying higher prices? The chaos this
could create is obvious.
Sometimes we cost according to what
our enforcement charges will be but these
regulations do not include enforcement costs
– which is odd given that this is the easier
part of the puzzle to cost. This creates another
problem because some of our lower prices at
the front-end are based on the fees charged at
The Recognised Standard / www.cicm.com / November 2018 / PAGE 18

the enforcement stages when we have secured
a Judgment. It means our published fees might
look cheap at the front-end, and we will have
to publish those prices only, but they are only
set at that price because they are connected
to the profit we expect to make on the debts
at the back-end when we make our recovery
through enforcement methods. These intricate
interconnections between parts of the services
we offer are difficult to list in a table, and I
think this point has also been missed by the
regulations.
We might also offer debt recovery services
for free but this could be because we get another
part of a client’s legal portfolio. For example, in
return we might get a client’s entire portfolio of
corporate transactions and that will be where
we make our profit as a business. One legal
team will sometimes help to feed another and
it is frustrating to see that this option will now
become tangled in the regulations. What would
happen in this type of situation? Would I still
publish that I do this small amount of work
for free and brace myself for a barrage of calls?
Would I then upset clients who don't get my
services for free? Again, there are seemingly far
more questions than answers.
PITCH PERFECT
Finally, as if the logistics of how to pitch price are
not bad enough there are also safety concerns
here regarding these regulations. The SRA is
asking us to publish details of all fee-earners
that charge on a file. The examples given in the
guidance contain details of names, positions,
qualifications, previous jobs and general
experience. If this is what we must publish then
how easy does that make it for a debtor to track
that person down? Perhaps they will obtain a
photograph from a LinkedIn profile to figure out
precisely who is demanding money from them.
We have all had circumstances in our careers
where a debtor has been threatening. I had
one who made a payment in full then smashed
a mirror in my reception as he left! Do these
regulations protect staff who, sometimes for
very good reasons, do not want their profiles up
online? We are of course more than happy to let
clients know who is doing their work and what
experience and qualifications they have, but how
James Perry
Debt recovery
as a legal service
is unique and
it does not fit
easily into
these regulations
in quite the
same way as it
does for probate,
conveyancing or
licensing.
comfortable are we giving the same information
to debtors? Do they also need to know by name,
position and experience who is chasing them
for payment? So would anyone like to prep me
that ten-dimensional spreadsheet containing all
possible variables and prices because I’m really
struggling? Any Einsteins among us?
In all seriousness I am frustrated as to why
the SRA would insist on pricing information
for debt recovery claims worth less than
£100,000 and I am hoping the points I have
made have been missed and therefore can
still be considered. Debt recovery as a legal
service is unique and it does not fit easily into
these regulations in quite the same way as it
does for probate, conveyancing or licensing.
Those areas are far more static and easier
to price in many ways. In theory it sounds
great – you would get a price list for the service
you want. But the problem is that clients don't
want to pick from a dropdown list. I think
until you scratch below the surface of this
concept you don't realise it just cannot work in
practice.
Finally, if I were to rip you off the SRA and
Solicitors Disciplinary Tribunal (SDT) would
strike me off. It is as simple as that. The remedy
you need to protect your interests already
exists and you don’t need me to publish my
pricing online to improve on that unless of
course you value that higher than your range
of options. Solicitors are bound by far greater
professional obligations than debt collection
agencies and that really should be sufficient.
We are placed under a professional obligation to
tell you in our client retainers who will do the
work, for how much and the likely costs of the
entire instruction. Clients need the freedom to
contract and they need to find the best fit for all
their little foibles. If that is taken away then the
rich tapestry we currently cater for and enjoy
catering for will have to be viewed through a
black and white lens in the future and be treated
like an ‘off the peg’ item rather than a tailormade
one.
James Perry is Vice Chairman of the
Law Society’s Civil Litigation Committee
and Director – Technical of the Recoveries team
The Recognised Standard / www.cicm.com / November 2018 / PAGE 19

Ice Magic
Sean Feast FCICM speaks to Dewi Fox
MCICM about swimming, Arctic Rolls,
and the challenges of running a medium
size debt collection agency.
The Recognised Standard / www.cicm.com / November 2018 / PAGE 20

INTERVIEW
AUTHOR – Sean Feast FCICM
DEWI Fox is a proud
Welshman, born in St
Asaph which is famous
for being one of the
smallest cities in the
UK and the birthplace
of goal-scoring legend, Ian Rush. But
while his Christian name betrays his
welsh roots, there is little in his accent
to suggest he is anything but English, a
result of living in the land of St George
since he was three.
“My father was a career civil servant,”
Dewi explains, “and worked for the
Inland Revenue as a Tax Collector, maybe
collections were in the genes – which is a
very sad thought!” He moved around with
his job to Wrexham and Chester before
moving south to Kingston-upon-Thames,
and so we finally ended up in Walton-on-
Thames where I have been ever since.”
Educated at a Sacelsian School, a
Catholic State school in Chertsey, Dewi
did well academically but was keener
on all sports, especially swimming and
playing football, reaching the National
Schools Finals in the former, and playing
at County level in football. “Sport was my
passion,” Dewi admits. “We used to have
what we called ‘Mad Wednesday’ where
I would go swimming in the morning
before school, then play football with the
school team in the afternoon before going
on to train with Wimbledon later in the
day, and then finishing with another stint
in the pool. By the end of it, they used
to drag me out of the pool virtually half
asleep.”
Such diligence and commitment paid
off: in the National Schools Finals in
the Isle of Man he finished fourth in his
chosen stroke, the backstroke. The part
he remembers best, however, was the
journey home: “I shared a carriage with
Sharon Davies,” he smiles.
FOOTBALL FOCUS
With so much time needed for training
and only so many hours in a day, Dewi
ultimately gave up his swimming in
favour of football: “Swimming is about
ten percent talent and 90 percent time in
the pool,” he explains.
Dewi thus began to shape his days and
weekends around his football, working a
paper round, various Saturday jobs and
playing football mid-week and Sundays.
Work, Dewi says, was something that
came naturally to him, and he was
seldom without a job, even if he had to
lie about his age to get one. Earning
money was important, especially when
an opportunity came to play football in
Canada. “My parents were of modest
means,” he says, “and so I worked to earn
enough money to pay for the trip myself.”
As Fifth Form gave way to the Lower
Sixth, Dewi’s interest in his three chosen A
Levels, Maths, Economics and Computer
Science, began to wane. He applied for
and was offered a place at Loughborough
(“I wanted to go for the sport,” he says),
but in the end he didn’t go: “Some of
our Computer Science lessons were on a
Monday and Friday afternoon, away from
the school at Brooklands Tech College,”
he explains, “but after a while a few of us
stopped going and just went to the pub
instead!”
Scraping through his exams, and with
little on the horizon other than an appetite
for work, Dewi first took a summer job in
a factory making arm rests for aircraft
seats (“They were all much older than
me and listened to Radio Two all day,” he
laughs. “It used to drive me nuts.”) , while
he looked for a proper job.
FROZEN FOODS
His last Saturday job had been working
in the post room at the Head Office of
Birds Eye Walls where he got to know
the Computer Operators well. They
encouraged him to apply for a post as a
computer programmer, a role usually
reserved for graduates: “I passed the
aptitude test,” he says, “and they offered
me a job in the IT department. It meant
spending three months in operations
before joining the programming team.
“I was the youngest in the department
by quite a few years as everyone else had
been to university but it was the dream
job. We had a bar on site (my boss liked
a drink) and a football team, and it was
only a ten-minute walk from where I
lived. By the time I left, the IT department
probably had something like 100 people
in it, almost evenly split by those who
smoked at their desks and those that
didn’t (remembering this is the 1980s).
Everyone went to the bar on a Friday
lunchtime, and we had the benefit of a
staff shop, though by the time I left I was
sick of Vienetta and Arctic Rolls!”
After four and a half years at Birds Eye
Walls, Dewi had saved enough money to
go travelling, and spent 12 months in the
US, Australia, Asia and Africa. Within
those 12 months he worked for six weeks
and three days precisely. The six weeks
was spent as a computer programmer
Everyone went to the bar
on a Friday lunchtime,
and we had the benefit
of a staff shop, though by
the time I left I was sick of
Vienetta and Arctic Rolls.
The Recognised Standard / www.cicm.com / November 2018 / PAGE 21 continues on page 22 >

INTERVIEW
AUTHOR – Sean Feast FCICM
in Sydney, where he earned Aus$30 an
hour at a time when his rental apartment
in Rose Bay (walking distance of Bondi
Beach) cost only Aus$35 a week. Of the
three additional days, two were spent as
a decorator in San Diego (“I wasn’t much
good at it,” he admits) and the third
dipping trees into some form of liquid
treatment in Queensland, without so
much as a rubber glove in sight!
COLLECTIONS WORLD
Returning to the UK, he took various jobs
in IT, including a spell in recruitment and
sales, before a family connection led to
him being offered a role at Frederickson’s
as an Office Manager. “At the time there
were only about 15 of us,” he remembers,
“and it was both a successful business and
a fun place to work. It was also ahead of its
time in the technology it used,” he adds.
From Freddies he was poached by
Thames Credit in Bromley, initially as
Head of Collections and then Head of
Operations. Thames Credit was a much
larger business than Freddies at the time,
and Dewi was obliged to keep a seating
plan of the office so he would know
the name of anyone leaving their desk
to speak to him! It was while he was at
Thames Credit that he was approached by
an old school friend with an idea of setting
up their own agency, at which point Dewi
started developing a bespoke IT platform
in his spare time. With the new system
ready for action, and the first client in the
bag, the new business was born.
ARC Europe thus came into being in
2001 as both a purchaser and collector,
and in the early days, as now, its pitch
was in its ability to develop bespoke
solutions matched to a client’s specific
requirements and demands. It was
far from plain sailing: “The early days
were tough,” Dewi recalls, “and winning
new clients was a particular challenge.
Steadily we began to grow the business
and employ some part-time sales people,
and through one of these we secured our
first gym.”
GAME CHANGERS
This, Dewi says, was a game changer: “I
flew up to Glasgow to meet the client, and
came away with the business,” he explains.
“Most of our work was around customer
retention; the gym wanted to keep their
customers if they could, and collect from
those if they couldn’t. Previously they’d
used a firm of solicitors, but within the
first month alone we blew them out of the
water.”
The second game changer came in an
oval shape, Egg. “It was very innovative
for its time in the way it engaged with
agencies,” Dewi remembers. “It set up
what it called ‘DCA World’ which was
effectively its new panel (to include
1st placement, 2nd placement, legal,
trace etc) and we were awarded the 2nd
placement work. We learned a great deal
from it as a business which we rolled
out to our clients in other sectors. It was
also the first time I ever heard the initials
‘TCF’!”
Egg, Dewi explains, brought a very
different style to business, incentivising
successful agencies by inviting them
to events, including a table football
tournament at Pride Park (“We lost to
Moorcroft in the final, only because they
had a ringer,” Dewi jokes). One of the
more exciting events was the Yorkshire
Three Peaks challenge: “The last peak was
a tough climb on our hands and knees in
snow and some of us nearly didn’t make
it.”
The serious side to such fun activities
was a greater understanding of the client/
agency relationship, and an opportunity
for agencies to get to know one another
better. The good times came to an end
with the sale of Egg in 2011, and the
decision by Barclaycard to dissolve the
panel. Happily for ARC, it coincided with
the acquisition of a new portfolio within
the insurance sector. Dewi remembers
the negotiations well:
“It was an initial portfolio of around
60,000 accounts with an average balance
of £200 per account,” he explains. “I
offered the client two pence in the pound
and a share of anything over six percent.
They declined, until I explained our
position, and what a larger debt buyer
might offer and the hoops they would
have to go through to get there, and in the
end, we settled at two and a half pence
and a share on everything above seven
and a half percent. Remarkably, the deal
probably took ten minutes to complete
with a hand shake, but we were all happy
and they are still a client today.”
PROVEN EXPERTISE
Since those early days, ARC has tended
to stick to the knitting and focus on those
areas in which it has proven expertise:
financial services (including banks and
high cost/short-term lending); insurance;
and lifestyle, notably gyms. So, has Dewi
seen many changes since the advent of
the Financial Conduct Authority (FCA)
as the new regulator? The answer is an
emphatic yes:
“The impact of the FCA has been even
greater than we imagined,” he says. “For
a start, we have had to invest in staff and
The Recognised Standard / www.cicm.com / November 2018 / PAGE 22

INTERVIEW
AUTHOR – Sean Feast FCICM
A member of the
Chartered Institute of
Credit Management
(CICM) for more than 20
years, Dewi still engages
with the Institute as an
active member of the
Think Tank, along with
fellow ARC Director
David Sheridan who
recently became a
Fellow.
roles that didn’t even exist prior to the FCA
coming into being, notably around quality
assurance and compliance. This need to
invest in new people, however, has come
just as the market for high cost/shortterm
lending has shrunk by more than 40
percent, and we're experiencing similar
declines in some other sectors.
“We are therefore faced with a
conundrum: you have to be of a certain
size to meet the FCA requirements and
match client expectations, but you need
more business to cover the additional
costs at the time when business is
more difficult to find and markets are
contracting.”
The need to control costs has led many
agencies, ARC among them, to explore
how technology can help. New customer
engagement strategies such as rich text
SMS and web-chat via a new website are all
helping improve both efficiencies and the
customer experience, and a move towards
full ‘self-service’ is the next logical step.
ONGOING CHALLENGE
How clients measure success is also an
ongoing challenge, Dewi says, as no one
client is ever the same: “One of the more
imaginative financial services firms is
predominantly outcomes based, with
very low commission on collections,” he
explains, “so we are measured on whether
a customer completes an Income and
Expenditure form, or whether we can set
up a payment arrangement for example,
more than the money collected. Call
Quality is the key metric.”
But Dewi says that such measurements
can change overnight: “Different clients
have different ways of measuring success,
but even when a client has a change in
senior management, we can find ourselves
being measured differently again.”
Despite the additional challenges, and
the additional costs of compliance in
particular, Dewi says that most of their
clients have been reasonable in adjusting
margins and rewards. One increased
their fees in accordance with their
own ‘treating suppliers fairly’ (or more
formally entitled ‘Responsible Business
Practices’) charter, but not every client has
been so understanding: “We have had to
exit some business,” Dewi says, “because
it was simply not profitable. Turnover
and volume are important, but so too is
profitability. It becomes a numbers game.”
A member of the Chartered Institute
of Credit Management (CICM) for more
than 20 years, Dewi still engages with the
Institute as an active member of the Think
Tank, along with fellow ARC Director
David Sheridan who recently became a
Fellow. He also maintains good relations
with the Credit Services Association (CSA),
and is proud to have been one of the very
first to have gained a CSA Diploma – with
a distinction.
BALANCING ACT
Within business, Dewi is keen to find the
right balance between working hard and
having fun: “Within the team we’ve all set
ourselves some personal goals,” he tells
me. “These include: to cycle 100 miles; to
catch a certain size of fish; to lose some
weight; and even to get a boyfriend! My
own challenge is to swim 400 metres in
less than five minutes and 30 seconds.”
Of all the personal attributes that Dewi
holds in the highest regard, good manners
come in first place. “Working hard will get
you a long way, but having good manners
will get you even further in life. I don’t
agree that to be successful you have to be
ruthless and tread on others to get on. I
just don’t see it.”
When discussing education for
the next generation, Dewi thinks that
apprenticeships, and especially those
that lead to a degree, are also invaluable:
“Schools often channel youngsters
down the University route when it is not
always appropriate. Getting a degree as
an apprentice, where you are learning
on the job and earning money while
you’re doing it, is an excellent initiative.
“Unfortunately, my two sons didn’t take
that route and are currently piling up the
debt at Uni, but I’m sure they’ll be OK.”
Dewi is definitely a glass half full man,
often with beer in it!
The Recognised Standard / www.cicm.com / November 2018 / PAGE 23

OPINION
Acquiring
Knowledge
Why might further consolidation in the debt purchase
and collections industry be good for the consumer?
AUTHOR – Julian Winfield
Julian Winfield
MERGERS and Acquisitions
are much in the
news of late, although
not always for the right
reasons. The sight of
the CEO of Sainsbury’s
caught singing ‘we’re in the money’ off
camera in the summer will long live in the
memory not only for the poor vocals, but
also for the disastrous message it conveyed
as to the real purpose and benefit of bringing
two companies (Sainsbury’s and Asda)
together.
Whenever businesses merge or are
acquired, teams of PR professionals
are quick to promote the message that
consolidation is good for the long-term
future of the businesses concerned, good
for the staff, and good for the consumer.
Whether this is borne out in reality in a
large number of cases is a moot point,
and it depends very much on the industry
concerned.
Too often we see acquisitions followed a
year or so down the line after the dust has
settled by large numbers of redundancies
and branch closures, and little or no
evidence of any tangible customer
advantage. Indeed, in some cases the
consumer is arguably worse off than they
were had the status quo remained.
In the debt purchase and debt collection
industry, however, we would maintain
that there are significant advantages to
be had, and the benefits of consolidation
go far beyond the savings to be made on
bricks and mortar, systems integration or
rationalising back-room staff. While these
will inevitably help to reduce costs and
drive greater operational efficiency, they
are only one part of the attraction.
They also go beyond the opportunity to
share best practice, innovation and thought
leadership which are similarly appealing.
The ability to learn from others, and the
opportunity of bringing in additional skillsets
and talents cannot be underestimated.
DATA EXCHANGE
The real benefit, however, and something
that is virtually unique to our industry, is
the advantage that comes from ‘acquiring’
additional data. ‘Big’ data is, of course, a
hot topic. What is important, however, is
not the volume of data you have, but rather
how you use it to make better-informed
decisions that ultimately lead to improved
outcomes for the customer.
Take, for example, the case of Mr Smith,
whose credit card debt we own. If, through
acquisition or merger, we now not only
have access to his credit card data, but also
greater visibility of his car finance or mail
order debt, then we have a much better
understanding of Mr Smith’s true financial
position.
In certain respects, the debt purchaser
is able to assume a similar role to that of a
debt management business or charity, with
a much greater insight into affordability
and creating a more appropriate (and
accurate) I&E. We can take an holistic view
of his circumstances, as they do, which in
turn helps us to help him on his journey to
financial rehabilitation and rebuilding his
credit profile.
Consolidation in any industry brings
challenges, but it also brings opportunity.
While there are far fewer players in the debt
purchase and collections industry today
than there were a decade or so ago, further
consolidation is not only inevitable, but I
would argue preferable. It will certainly be
in the consumers’ interests.
Julian Winfield is Chief Executive,
Hoist Finance UK
The Recognised Standard / www.cicm.com / November 2018 / PAGE 24

A Credit Manager walks into a bar…
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The Recognised Standard / www.cicm.com / November 2018 / PAGE 25

TRADE TALK
Championing
small businesses
The importance of helping smaller companies to export.
AUTHOR – Lesley Batchelor OBE FCICM
AT the start of October,
The Institute of Export &
International Trade was
honoured to be awarded
the title ‘WTO-ICC Small
Business Champion’ by the
World Trade Organisation (WTO) and the
International Chamber of Commerce (ICC).
This followed the final of an international
competition that we ran for Micro, Small &
Medium Enterprises (MSMEs) all over the
world, inviting them to submit their export
plans using an online planning tool on our
Open to Export platform.
The competition was our way of
contributing to a more inclusive trading
world and we were humbled to meet the 12
finalists who pitched for the cash prize of
$5,000, eight of whom travelled to Geneva
to join us for a competition showcase at the
WTO Public Forum.
Our stand throughout the Forum was
abuzz with inspiring entrepreneurs. Our
finalists supported each other with their
pitches and exchanged ideas and advice
about how to export successfully. What was
truly inspiring though, was the significant
impact that each of these companies is
already having in their respective homes.
The winning company, Dytech from
Zambia, which makes honey-based
products, is just one such example of the
vital role that trade plays in developing
communities. As it grows, Dytech
employs and trains individuals from
poorer communities, 40 percent of whom
are women. By giving Dytech $5,000 to
implement its export strategy, we are
helping Zambian men and women
to escape poverty and gain skilful
employment, creating skills and work
that could have lifelong impacts.
OPPORTUNITIES FOR ALL
We were honoured to be named a ‘WTO-
ICC Small Business Champion’ because
the need to champion small businesses
is paramount in bringing more people
out of poverty and spreading prosperity
through the world.
Despite all the anxieties we have
going into 2019, it remains the case that
much progress has been made in recent
times. Much of this has been down to
a globalised and liberalised trading
system, with the World Bank reporting
that the 1990 poverty rate was halved by
2010, five years ahead of target.
Protectionist politics and fears
about automation linger of course. In
respect to the latter, trepidation may
be exaggerated. In his opening plenary
speech to the WTO Public Forum, WTO
Director General, Roberto Azevêdo,
noted that technological advances could
lead to additional global trade growth
of around 30 percent, and though
technology could replace 75 million jobs
over the next four years, in the same time
it could also create 133 million new ones.
THE ROLE OF SMES
The WTO’s mission is to ensure that global
trade growth works for everyone, and
the phrase ‘inclusive trade’ is a key one
– especially when protectionist policies
are returning to the table. In this sense,
new and growing companies can often be
the most inspiring and innovative causes
for hope, not least because the great ideas
and employers of tomorrow can’t all come
from big business.
By backing small businesses
irrespective of where they come from –
something technology indeed facilitates –
we can truly spread opportunity in trade so
that it includes people from developing as
well as developed countries, spreading it
to people of all races, genders, sexualities
and backgrounds.
It was truly inspiring, for instance,
that seven of our 12 finalists were
women hailing from Vietnam, Mongolia,
Belize, Saint Kitts, Jordan, Trinidad, and
Scotland.
INCLUSIVE EXPORTING
Global trade should be inclusive and the
case for the benefits of exporting has
to be made to MSMEs. Wherever you
are, whatever the size of your business,
exporting helps to spread risk, increase
sales and boost efficiency.
Indeed, we learnt recently that in
the UK alone companies that export
become 34 percent more productive
than those that don’t. By dealing with
people in different cultures you learn so
much about the world and other ways of
doing business – something we certainly
found spending time with our finalists in
Geneva. Exporting can only do all these
things when you know how it’s done
properly. That’s why we were delighted
to open up the Open to Export project
to MSMEs around the world – using our
own technologies to help them trade
successfully.
By giving SMEs the tools and
information they need to export properly,
we’re doing our bit to facilitate, encourage,
and to champion the world’s SMEs. In so
doing, we’re making trade more inclusive,
doing our bit to reduce poverty and
increase opportunity everywhere and for
everyone.
Lesley Batchelor OBE FCICM is Director
General of The Institute of Export and
International Trade.
The Recognised Standard / www.cicm.com / November 2018 / PAGE 26

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INTERNATIONAL
TRADE
Monthly round-up
of the latest stories
in global trade by
Andrea Kirkby.
TRADE WAR DEEPENS
SPORADIC skirmishing has
begun to look more like trench
warfare, as President Trump
imposed tariffs on another $200
billion of Chinese products,
and China retaliated almost
immediately with tariffs on $60 billion
of American trade. Trump has already
threatened to respond to any Chinese
retaliation – and so the escalation looks
set to continue, with neither player likely
to back down. So far, stock markets have
shrugged off the impact. But Jim Paulsen,
a well-regarded Wall Street strategist, says
‘the Teflon could quickly disappear’ if US
growth starts to slow. That could bring stock
markets tumbling.
However, it's not stock markets that
I'm most worried about. China doesn't
actually import that much from the US,
so retaliating by imposing tariffs will
get increasingly difficult. I'm wondering
whether China would take the brutal step
of devaluing the yuan – and that would hit
British exporters as well as the US. So watch
your currency exposures! There's another
worrying development, too. China and
Russia seem to be getting together. China
participated in Russia's Vostok 2018 military
exercise, and while the two countries don't
have exactly the same strategic priorities,
they've decided to face down the West
together. That geopolitical change could
not only increase political risk in Central
Asia and the Pacific, but also accelerate
the development of the new Silk Road
route. Watch out for developments – there
will be threats but there might be a few
opportunities as well.
COMMODITIES START TO DO BETTER
ONE little bit of good news this month is that Euler Hermes has taken the resource sectors
off its ‘most stressed’ list. Recovering commodities prices have lifted resource companies'
earnings, though metals producers and processors remain highly indebted – oil and gas,
on the other hand, looks to have a new lease of life, and better credit rating.
Unfortunately, other sectors are riskier. Paper and textile, for instance, have the
highest gearing globally, but it's transportation which really looks dicey – leverage is high,
cashflow generation is weak, rising oil prices will hurt, and climate change is disrupting
the sector. Add to that declining international trade volumes thanks to protectionism (Asia
to North America freight growth has already been impacted) and things don't look good. If
you have customers in the sector, keep an eye on their vital statistics.
EXPORTING SUPERPOWER?
NO doubt the Department for International Trade does a good deal for exporters in the
way of trade missions, trade finance, and general lubrication. But I can't help wondering
at Liam Fox’s claim that it will turn Britain into an ‘exporting superpower’ post-Brexit.
For a start, putting new barriers in the way of more than half our exports is an odd way to
achieve that aim. More seriously, though, this is the minister who originally had a target to
double exports to £1 trillion a year by 2020. He admitted in February last year that it wasn't
achievable. The new ‘ambitious’ and ‘global’ strategy will actually achieve quite a lot less
than the old targets. It's an interesting definition of success. I can't help thinking that if
‘exporting superpower’ is a new power, it doesn't really rank alongside those of Spiderman,
the Incredible Hulk or Catwoman.
The Recognised Standard / www.cicm.com / November 2018 / PAGE 28

SSTL, an Airbus subsidiary, is the world's
leading small satellite manufacturer, with a
40 percent global share. Based in Guildford,
it has customers in China, Australia, Russia,
the US, and Algeria, and has just launched
NovaSAR to monitor suspicious shipping
activity for India.
SSTL has found a global niche market
– the bargain basement end of space
ADDING TO INDONESIA’S WOES
I'M not liking the feel of world markets at
the moment; I seem to be reporting bad news
90 percent of the time. Worse, I'm beginning
to feel like a Jonah; I'd already written an
economic bad news story on Indonesia –
then the tsunami hit.
The country now really needs everyone’s
help to deal with natural disaster. But the
economy was already in bad shape the
rupiah having fallen ten percent against the
dollar since the beginning of the year, and
trading at its lowest since 2000, despite four
hikes in interest rates, with a deepening
current account deficit. It doesn't help that
the country has been a net oil importer since
2011.
The big worry – before the earthquake
TO BOLDLY GO...
STORM WARNING
technology – and exploited it cleverly.
Rather than supplying bigger European
space missions, it set out to develop
its own market, advising foreign
governments on setting up their own
space programmes and selling satellites
that are increasingly important in
providing data for mapping, planning, and
agriculture.
and tsunami that hit Sulawesi in late
September – was whether the country
would adopt protectionist measures such
as 'economic nationalism’, capital controls,
and increased import tariffs to deal with
its economic woes. (President Widodo’s
government pursues a pretty statist line
when it comes to economic development;
last year, for instance, it passed a regulation
forcing exporters to use Indonesian ships for
export of palm oil and coal).
Indonesia has more pressing matters
to deal with right now. But I'd be watching
out in the region for any resurgence of
nationalist economics – not just in
Indonesia but in other South-East Asian
countries.
BMW has changed its maintenance schedule – it won’t be making cars next April.
That’s its contingency plan for the disruption of a no-deal Brexit to its European supply
chain.The problem, of course, will come if disruption lasts more than the month that
BMW's allotted for maintenance. But the story shows that if you’re engaged in any form
of international trade within the EU, you need to put contingency plans in place.
LATIN AMERICA UNDER PRESSURE
LATIN America is getting squeezed. Most Latin
American countries have dollar-denominated
borrowings, and the strong dollar has increased
their costs of borrowing; NAFTA is under
strain, Mexico has a new populist president,
the Brazilian elections could spring a nasty
surprise, Argentina has seen a run on the peso,
and Venezuela is in full scale crisis. Currencies
are doing terribly – the Brazilian real has fallen
25 percent against the dollar year-on-year.
And yet many economies (okay, not
Venezuela’s) are doing pretty well, so it's not
necessarily a bad time to export to the region.
However, you'll need to have a quality product
and be prepared to defend your market share,
because it looks like you could be up against
more competition. China is expected to take
advantage of difficult times to try to expand its
influence in the region.
Meanwhile though, watch out for Latin
American currencies depreciating further
against the dollar.
CURRENCY UK
EXCHANGE RATES VISIT
CURRENCYUK.CO.UK OR
CALL 020 7738 0777
Currency UK is authorised and regulated
by the Financial Conduct Authority (FCA).
GBP/JPY 149.607
HIGH LOW TREND
GBP/EUR 1.1391 1.1060 Up
GBP/USD 1.3271 1.2823 Up
GBP/CHF 1.3020 1.2475 Up
GBP/AUD 1.8610 1.7806 Up
GBP/CAD 1.7175 1.6614 Up
142.890 Up
REALITY AND
EXPECTATION
STOCK markets are all about expectations.
They look at next year's or next quarter's
earnings, rather than last year's, and they can
be quickly spooked by a change in forecasts.
BlackRock fund managers don't often get
things wrong, and they've just pointed out
that the balance between expectations and
reality has changed. Investors have got used
to the US economic reports coming in above
expectation; not any more. For the first time in
a year or more, the US is just meeting or even
undershooting estimates. On the other hand,
Europe is now seeing positive economic and
earnings surprises.
That might keep the dollar range-bound
from now on and could let the euro take over
the baton. But more generally, BlackRock
points out that the high level of macro
uncertainty isn't helping; investors are selling
down emerging markets and heading again for
the 'safe havens' of US equities and the dollar,
and companies are beginning to think twice
about their investment plans. That could hurt
growth in a year or so, even if for the moment,
economies continue to thrive.
GERMAN WEAKNESS
POOR figures from German industry may
represent the first collateral damage of the
Trump Trade War. Industrial production fell
1.1 percent in July compared to the previous
month, with a particularly large decline of
2.5 percent in capital goods. Advance orders
fell, too – while domestic orders were up 2.4
percent, export orders fell 3.4 percent, quite
clearly pointing the finger at foreign markets
as the culprit.
It's a bit early to write Germany – or the
rest of the Eurozone – off. The Eurozone
remains strong, though likely to see growth
decelerating over the next year and a half,
and the domestic markets are doing well;
meanwhile, government finances don't
appear overstretched, and most companies
are adequately funded. But you might want to
keep a look out for signs of stress, particularly
if you're part of a big exporter's value chain.
The Recognised Standard / www.cicm.com / November 2018 / PAGE 29

FECMA COUNTRY PROFILE
Going Dutch
Sean Feast speaks to Cees Jansen at the Netherlands
Vereniging voor Credit Management (VVCM).
Cees Jansen
THE Netherlands is a country
located in north western
Europe, also known as
Holland. Netherlands means
low-lying country; the name
Holland (from Houtland, or
Wooded Land) was originally given to one
of the medieval cores of what later became
the modern state and is still used for two
of its 12 provinces (Noord-Holland and
Zuid-Holland).
The country is famous for being
remarkably flat, with large expanses of
lakes, rivers, and canals. Some 2,500 square
miles (6,500 square km) of the Netherlands
consist of reclaimed land, the result of a
process of careful water management dating
back to medieval times.
With a population of 17.25 million
living in an area 41,500 square kilometres,
the Netherlands is one of the most
densely populated countries in the world.
Nevertheless, it is the world's second-largest
exporter of food and agricultural products
after the United States, owing to its fertile
soil, mild climate, and intensive agriculture.
The Port of Rotterdam is the largest port in
Europe and the world’s largest outside Asia.
The Netherlands was the third country
in the world to have representative
government, and has been administered as
a parliamentary constitutional monarchy
since 1848, with a unitary structure.
It is a founding member of the EU,
Eurozone, G10, NATO, OECD, and WTO, as
well as a part of the Schengen Area and the
trilateral Benelux Union. It hosts several
intergovernmental organisations and
international courts, many of which are
centred in The Hague, which is dubbed 'the
world's legal capital.
Its mixed-market advanced economy
had the 13th highest per capita income
globally. One of the world's most prosperous
countries, the Netherlands ranks among the
highest in international indexes of press and
economic freedom, human development,
and quality of life.
How many members do you
have?
We currently have 900 individual
members and have recently introduced
new corporate membership.
How is the Vereniging run?
Established in 1990, the VVCM
contributes to the professionalism
of credit management and its
positioning as a core activity within
a company. We provide training and
a platform for knowledge sharing
through the publication of a quarterly
Credit Magazine and an online
knowledge ‘hub’. The Vereniging
also helps with the organisation of
Credit Expo, a major annual Credit
Management congress, and sponsoring
and organising the annual ‘Credit
Manager of the Year’ and ‘VVCM
Credit Management Innovation’
Awards.
As well as these major initiatives,
the VVCM also conducts four or five
credit college tours for university
students as well as quarterly ‘meet
and learn’ sessions. It organises an
Innovation Congress, and a further
congress focused on Debt Sale. The
VVCM hosts a new members’ meeting
annually.
What training/learning support do
you provide?
In terms of professional training
and career development, the VVCM
delivers a range of qualifications
including:
• Certified Credit Manager / CCM
Education programme: two years;
senior level
• Certified Credit Collector / CCC
Education programme: one year;
mid-level
• Certified Credit Practisioner / CCP
Education programme: one year; basic
study
• P/E-program: Permanent Education
accreditation programme (introduced
June, 2018)
What is the Kingdom’s attitude to
late payment?
Payment terms are clearly
communicated and customers are
expected to respect these terms.
During the economic crisis, large
buyers have initiated unilateral
actions to extend payment terms.
These activities generated significant
negative publicity. Following a
dip during the recession, payment
behaviour has been improving.
The Recognised Standard / www.cicm.com / November 2018 / PAGE 30

FECMA COUNTRY PROFILE
Average payment days, Netherlands (all branches)
Definition: Average number of days between receiving an invoice
and paying it off. Formula: (Accounts payable balance x 360) ÷
(Number of accounts payable x 12)
First quarter 2013 44,6
Second quarter 2013 44,4
Third quarter 2013 44,8
Fourth quarter 2013 43,5 Year average 2013: 44.3
First quarter 2014 42,3
Second quarter 2014 42,7
Third quarter 2014 43,9
Fourth quarter 2014 41,2 Year average 2014: 42.5
First quarter 2015 41,1
Second quarter 2015 41,5
Third quarter 2015 41,7 Year average 2015: 41.0
Fourth quarter 2015 39,7
First quarter 2016 40,7
Second quarter 2016 40,8
Third quarter 2016 40,9
Fourth quarter 2016 41,8 Year average 2016: 40.9
First quarter 2017 40,3
Second quarter 2017 40,4
Third quarter 2017 40,6
Fourth quarter 2017 40,6 Year average 2017: 40.3
First quarter 2018 39,2
Second quarter 2018 40,5 Year average 2018: 39.9 (Y.T.D.)
Are there any specific laws to protect against
late payment?
Payment terms for companies buying from SMEs
may not exceed 60 days. An initiative under the
‘Betaalmenu.nl’ to set and agree 30-day payment terms
for SMEs is ongoing. More than 50 large Dutch and
International organisations have joined voluntarily.
What support do you provide to fellow FECMA
members?
The VVCM works closely with Belgian IvKM to organise
an Innovation Congress in Flanders. We collaborate
together with German BvCM organising common
Dutch/German Credit College Tour
Communication, and with Polish PICM in finding
members and staff-officers.
The average period of payment
has deteriorated by more than
a day, especially for suppliers
of corporates, whereas the
difference between payment
terms and actual payment days
has increased. For government
suppliers, this difference has
been slightly ameliorated.
Payment terms / average days:
2017 2018 Difference
SMI 25 26 1
Corporates 35 35 0
Government 24 25 1
Real payments / average days:
2017 2018 Difference
SMI 28 30 2
Corporates 41 43 2
Government 29 29 0
Comparison of payment delays, 2018 vs. 2017:
Payment terms Payment days Differ. 2018 Differ. 2017 2018 vs. 2017
SMI 26 30 +4 +3 +1
Corporates 35 43 +8 +6 +2
Government 25 29 +4 +5 -1
Contacts for further information: Cees Jansen – secretariaat@vvcm.nl
The Recognised Standard / www.cicm.com / November 2018 / PAGE 31

COUNTRY FOCUS
Steeped in history and rich
with culture, Ireland
provides an important
market for British exporters.
AUTHOR – Adam Bernstein
Ireland: Part one
THE SPARKLE
OF THE
EMERALD
ISLE
The cliffs of Moher, Ireland
IRELAND was described by
William Drennan in his 1795
poem, When Erin first rose as
the Emerald Isle. But while the
Celtic Tiger has seen an economic
resurgence of late, it hasn’t always
seen great times. Famine, mass emigration,
issues over home rule – the country was
most definitely politically charged. But it’s
been independent from Britain for almost
100 years and the country will very soon
share the only physical border the UK has
with Europe once we leave the European
Union. Hard border, soft border, it’s all
up for negotiation which, given Ireland’s
importance to the UK – it’s our fifth
largest export market according to the
Government’s own (2016) figures – is bound
to be hard fought over.
A YOUNG COUNTRY
Ireland’s success is linked to that of the
UK. Consider the recent troubles which
were only formally resolved 20 years ago
with the Good Friday Agreement (which
granted devolution to the province while
creating a number of institutions between
Northern Ireland the Irish Republic,
and the Irish Republic and the UK). The
agreement finally dealt with issues relating
to sovereignty, civil and cultural rights,
decommissioning of weapons, and justice
and policing which were voted on and
approved by voters across the whole of the
island.
According to IndexMundu, Ireland is a
young country. Of its approximate 5.01m
population, 33.3 percent are under 24 years
of age, 43.2 percent are aged between 25
and 54, and another 10.42 percent are aged
between 55 and 64. Only 13.07 percent are
65 or older. And life expectancy is good –
the average lifespan is 80.9 years.
Sharing a common language and time
zone, having strong transport links, a
similar legal framework and an open
economy, it’s not very surprising that the
UK Government reckons that the value of
bi-lateral trade in the region is one billion
euros a week. In essence, Ireland is not
only a very good market, it’s also a perfect
platform for a firm new to exporting that
wishes to test the process.
Moreover, Ireland’s growth rate is ahead
of the UK’s, albeit slowing. According to the
European Commission, 2017 growth was
7.3 percent and will be 5.6 percent in 2018
and four percent in 2019. In comparison,
The Recognised Standard / www.cicm.com / November 2018 / PAGE 32

COUNTRY FOCUS
AUTHOR – Adam Bernstein
Technology has
been a focus for
years with many
multinationals
located in the country
for a number of
reasons, not least of
which is the benign
Irish tax rate as
well as the wider
opportunities that
being located in
Europe offers them.
Temple Bar quarter, Dublin
Jameson Heritage Centre in Cork
Dunguaire Castle, Kinvara, Galway
It’s not very
surprising that the
UK Government
reckons that the
value of bi-lateral
trade in the region
is one billion
euros a week.
the OECD reckoned that the UK’s rate for 2017
was an anaemic 1.79 percent for 2017 and a
miserly 1.39 percent in 2018 and 1.31 percent in
2019. Interestingly, data published in December
2017 suggested that Ireland’s growth in the last
quarter was up more than ten percent on the
same period the year before. However, as a
writer for the Irish paper, The Journal, noted,
this figure is more than likely down to what
he termed ‘Leprechaun economics’ where the
activity of multi-nationals distorts the true level
of economic activity.
A BULLISH ECONOMY
Like many, but not all, countries in Western
Europe, the Irish economy has falling
unemployment. Central Statistics Office Ireland
believes it to have fallen from 7.2 percent in
February 2017 to 5.4 percent in September 2018.
It’s not quite the closeness to full employment
that the UK has, but it’s markedly better than the
14.6 percent the economy saw in 2012.
And considering the impact of the Irish
financial crisis of 2008 and beyond, the republic
has done well.
The World Bank ranks Ireland 17th in terms of
the overall ease of doing business compared to
the UK’s 7th placing. Both countries are equally
ranked in protecting minority investors (10th),
but Ireland is 14th for starting a business (UK
7th), 42nd for getting credit (UK 23rd), 17th for
resolving insolvency (UK 14th). But interestingly,
the World Bank puts Irelands per capita income
higher at $52,560 compared to the UK’s $42,390.
SIMILAR SECTORS
According to World Top Exports, Ireland imported
some $84.34 billion worth of goods from around
The Recognised Standard / www.cicm.com / November 2018 / PAGE 33 continues on page 33 >

COUNTRY FOCUS
AUTHOR – Adam Bernstein
the world in 2017 – a 27.8 percent rise on
2013 and a spend of around $16,800 per
person. Of that, 69 percent by value came
from Ireland’s European trading partners.
The top ten product groups make
for interesting reading too. Aircraft,
spacecraft: $14.7 billion; pharmaceuticals:
$10.2 billion; machinery including
computers: $7.9 billion; mineral fuels
including oil: $5.3 billion; electrical
machinery, equipment: $5 billion;
organic chemicals: $4.1 billion; vehicles:
$4.1 billion; plastics, plastic articles:
$2.8 billion; optical, technical, medical
apparatus: $2.6 billion; and perfumes,
cosmetics: $1.3 billion.
This listing is similar to data published
by the UK Government in 2016. Its records
note that UK firms exported petroleum
products and related materials;
miscellaneous manufactured articles;
gas, natural and manufactured; articles
of apparel and clothing accessories;
essential oils and perfume materials;
toilet preparations etc.; road vehicles;
medicinal and pharmaceutical products;
metals; electrical machinery, appliances
and electrical parts; and office machines
and automatic data-processing machines.
It’s quite a list and should give exporters
some food for thought.
Data from the Irish Central Statistics
Office, published July 2017, found that
48.6 percent of all industrial production in
Ireland came from the top ten industrial
organisations to a value of some €64.8
billion. The rest, totalling €68.5 billion,
came from another 3,116 industrial firms.
Statistics also show the percentage
changes in sales by sector between 2014
and 2016. Pharmaceutical products rose
by 128.5 percent; computer, electronic,
optical and electrical equipment was up
by 56.3 percent; wood and wood products
– 28 percent; basic metals, machinery
and equipment – 25.3 percent; drinks –
18.8 percent; chemicals – 15.7 percent;
food – 8.2 percent; rubber and plastic –
4.2 percent. But there were some losers,
namely paper and paper products which
fell by 10.8 percent; mining and quarrying
by 18.7 percent; textiles by 18.8 percent;
and transport which fell by 33.6 percent.
Even so, the UK Government believes
that exporters should target agriculture
and food. Its last published figures reckon
that Ireland imported more than £3 billion
of food and drink from the UK in 2017.
Also on the hit list is energy, which is
considered to be one of Ireland’s main
industrial sectors. Perfectly placed,
Ireland is currently focussing on
renewable energy sources and has a 2020
goal of generating 40 percent of demand
from these sources – especially wind
farms and wave power.
Construction is of importance to
Ireland and back in 2016 the Government
announced a capital investment plan
for 2016 to 2021 of €42 billion to cover
projects in transport (including a new
metro rail link), healthcare (12 primary
healthcare centres and a new National
Children’s Hospital), the Dublin Institute
of Technology, and a huge €1.7 billion
investment in Irish Water for metering,
upgrades and waste treatment.
Technology too has been a focus for
years with many multinationals located
in the country for a number of reasons,
not least of which is the benign Irish tax
rate as well as the wider opportunities
that being located in Europe offers
them. The Irish Times proves the point
with a list of some 154 multinationals
including Google, Microsoft, Facebook,
Dell, Oracle and Apple. While they may
be headquartered there, they also invest
in infrastructure – most notably Apple
having to fight to spend $850 million in a
new data centre in County Galway (plans
for which were scrapped in May 2018 for
planning reasons).
Another sector pointed to by the UK
government is life sciences. Ireland has an
established indigenous and multinational
life sciences sector with nine of the world’s
top ten pharmaceutical and 12 of the top
15 medical device companies. These
firms are recorded as being involved
with diagnostics, hospital and homecare
products, ophthalmic, orthopaedic,
vascular, connected health, and services.
Again, being in Ireland gives these firms
access to much wider opportunities.*
Adam Bernstein is a freelance
business writer.
Perfectly placed, Ireland
is currently focussing
on renewable energy
sources and has a 2020
goal of generating 40
percent of demand
from these sources –
especially wind farms.
The Recognised Standard / www.cicm.com / November 2018 / PAGE 34

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
cicmmembership@cicm.com
Debt Recovery is
nothing new to Keebles.
Having practised successfully in this
area for many decades, you can be
confident inour experience and ability.
We appreciate the needs of our clients
and understand that each client’s
requirements are different. Whether
you are alarge organisation requiring
regular management reports and file
reviews, or asmall business growing
rapidly, but with little experience of the
debt recovery process, we have the
flexibility tocater for your needs.
We work closely with our clients and
will tailor aservice level agreement so
that we both know exactly what needs
to be achieved and at what cost.
No Recovery No Fee
We do not charge for issuing aLetter
Before Action. Wewill only charge you
commission, at an agreed rate, on any
sums recovered. If we are unable to
recover your debt atthis stage it will
cost you nothing.
No Hidden Costs
For many cases, where itisnecessary
to issue legal proceedings, we can
offer service on afixed fee basis with
no hidden costs and, where possible,
we will make additional claims onyour
behalf for interest and compensation
under The Late Payment ofCommercial
Debts legislation to further minimise the
recovery cost to you.
Success is the Key
Over the past 5years we have
successfully recovered over 80%
of our Clients’ debts in full or by
way ofanagreed settlement.
Call now totalk toamember of
the Debt Recovery Team:
0113 399 3470
charise.marsden@keebles.com
www.keebles.com

PAYMENT TRENDS
Back to school
The latest monthly business to business
payment performance statistics.
AUTHOR – Jason Braidwood FCICM(Grad)
SEPTEMBER – the start of the
academic year and the month
when businesses hit the ‘reset’
button and focus on getting
back to full productivity after
months of summer holidays
and interruptions. In theory, this change
in attitude should be reflected in the late
payment data. And indeed it is, with the
month bringing reductions in the average
Days Beyond Term (DBT) that invoices are
paid for three quarters of the sectors tracked
and across all but two regions.
After a broadly disappointing performance
across the board last month, it’s encouraging
to see businesses step up and significantly
improve their payment processes. The
average DBT figures across regions and
sectors have fallen back in line, to 13.4
days and 14.6 days respectively. However,
these numbers are still significantly higher
than the same period a year ago, suggesting
that other factors are having an impact on
business’ ability to make prompt payments
within the terms agreed.
External factors will always have a role to
play, and despite the news this month from
the Office of National Statistics (ONS) that
the UK economy grew by 0.7 percent in the
three months to August – it’s fastest pace
since February 2017 – every day there are new
claims that British businesses are struggling.
In the last week alone, the FTSE 100 hit a sixmonth
low, the International Monetary Fund
(IMF) cut global growth forecasts and said
UK public finances are among the weakest in
the world, and the Confederation of British
Industry (CBI) is calling for the Government
to introduce a £2 billion package of measures
in the Budget to encourage investment. Add
into the mix Brexit, and there’s little wonder
that businesses hardly know if they are
coming or going.
While it’s clear that improvements have
been on the cards for many this month,
there’s always more that can be done.
Ongoing uncertainty is likely to continue
for the foreseeable future so building in
greater resilience by paying invoices in a
timely manner is one way for companies to
support the overall business ecosystem. The
overarching aim should be to pay companies
as you would wish to be paid – i.e. on time!
SECTOR SPOTLIGHT
Business from home posted the biggest
improvement with a reduction of 6.8 days.
Similarly, the financial and insurance
(14.5 DBT), IT and Comms (15.6 DBT),
Hospitality (9.0 DBT), and Health and
Social Care (11.4 DBT) industries all
showed the greatest decreases in late
payments, with hospitality coming in as
the top prompt payer overall.
At the other end of the scale, the
Energy Supply sector is stuck at the
bottom of the table with the worst DBT
of 21 days. Meanwhile, International
Bodies (12.1 DBT), Wholesale (16.1 DBT)
and Agriculture (16.0 DBT) all had a
poor month with an increase in DBT. In
particular, transportation is moving in
the wrong direction – the sector’s DBT
increased by 1.4 days bringing it up to
17.2, and with ongoing fears about the
impact of a no-deal Brexit hitting this
sector particularly hard, there is certainly
cause for concern.
REGIONAL SPOTLIGHT
Only Northern Ireland (15.6 DBT) and
East Anglia (14.4 DBT) continued the
downward trajectory, increasing the
lateness of their payments by 1.3 and
1.8 days, respectively. Scotland’s late
payments sit at 16.3 DBT and London’s at
16.2, ensuring they continue their lengthy
stint at the bottom of the table.
On the more positive end of the scale,
the South East experienced the greatest
improvement with a reduction of 4.6
days in terms of late payments, bringing
with it a DBT of only 9.7. Yorkshire
and Humberside also experienced a
significant improvement of 3.9 days,
resulting in a DBT of 9.8. For both regions,
this is the first time since our records
began in January 2017 that they have
dipped below the ten days beyond terms
mark.
We’ll have to wait and see how these
regions and industries fare over coming
months with the Brexit deadline fast
approaching and ongoing uncertainty
continuing to impact the UK economy.
Unfortunately, delays in one section of the
business community can quickly begin to
impact others, and we have to hope that
there’s no domino effect that adversely
affects companies more widely.
Jason Braidwood FCICM(Grad),
Head of Credit and Collections at
Creditsafe Business Solutions.
The Recognised Standard / www.cicm.com / November 2018 / PAGE 36

n
-0.9 p East Midlands
-2.6 p London
-0.9 p North West
1.8 q Northern Ireland
-2.8 p Scotland
-4.6 p South East
Top -2.9Five p Prompter South Payers West
-0.6 p Wales
Top Five Prompter Payers Sep 18 Change from Aug 18
Hospitality 9.0 -4.7
West Midlands
Entertainment 9.7 -3.3
Education Yorkshire & 11.2 Humberside 4.2
Health & Social 11.4 -4.4
International Bodies 12.1 3.0
p
Region
-2.4
-3.9 p
Sector
Getting Better - Getting Worse
Bottom 1.3 q Five Poorest East Anglia Payers
Getting Better
-0.9 p East Midlands
Energy Supply 21.0 0.0
Top Professional -2.6 Five Prompter p -6.8 & Scientific London Business Payers 19.0 from Home -0.1
Business Admin & Support 17.6 -2.8
-5.4 Financial & Insurance
Transportation
-0.9 p & Storage
North West17.2 1.4
South Mining 1.8East & Quarrying q -4.7Northern IT and 9.7 Comms Ireland 16.4 -4.6-2.5
Yorkshire and Humberside 9.8 -3.9
South -2.8 West p -4.7Scotland
Hospitality 11.9 -2.9
West Midlands 12.8 -2.4
-4.6 p
East Midlands
-4.4South Health East
13.5
& Social
-0.9
-2.9 p South West
-0.6 p Wales
Bottom Five Poorest Payers
-2.4 p West Midlands
-3.9 p Yorkshire & Humberside
Bottom Five Poorest Payers Sep 18 Change from Aug 18
Region Sep 18 Change from Aug 18
Region Sep 18 Change from Aug 18
Scotland 16.3 -2.8
London 16.2 -2.6
Northern Ireland 15.6 1.8
East Anglia 14.4 1.3
tter - Getting Worse
North West 13.9 -0.9
East Anglia
Top Five Prompter Payers
East Midlands
Top Five Prompter Payers
London
South East 9.7 -4.6
North
Yorkshire
West
and Humberside 9.8 -3.9
Hospitality 9.0 -4.7
South West 11.9 -2.9
Entertainment 9.7 -3.3
Northern West Midlands Ireland 12.8 -2.4
Education
Region
East Midlands 11.2 13.5 4.2 -0.9
Health Scotland
& Social 11.4 -4.4
International Bodies 12.1 3.0
South East
Bottom Getting Five Better Poorest - Getting Payers Worse
Bottom South Five West Poorest Payers
1.3 q East Anglia
Wales Scotland 16.3 -2.8
Energy Supply
-0.9 p East Midlands
21.0 0.0
London 16.2 -2.6
Professional West Midlands
& Scientific 19.0 -0.1
Northern
-2.6
Ireland
p London15.6 1.8
Business Admin & Support 17.6 -2.8
East Anglia 14.4 1.3
Transportation Yorkshire -0.9
& p Storage & Humberside
North West North West
17.2
13.9
1.4
-0.9
Mining & Quarrying 16.4 -2.5
1.8 q Northern Ireland
-2.8 p Scotland
-4.6 p South East
-2.9 p South West
rompter -0.6 Payers p Wales
-2.4 p West Midlands
Sep 18 Change from Aug 18
-3.9 p Yorkshire & Humberside
Region Sep 18 Change from Aug 18
Top Five Prompter Payers Sep 18 Change from Aug 18
Region Sep 18 Change from Aug 18
Bottom Five Poorest Payers Sep 18 Change from Aug 18
9.7 -4.6
d Humberside 9.8 -3.9
11.9 -2.9
ds 12.8 -2.4
s 13.5 -0.9
PAYMENT TRENDS
Region
Top Five Prompter Payers
Getting Worse
3.0
2.4
1.7
1.4
0.0
International Bodies
Wholesale
Northern
Ireland
15.6 DBT
The Recognised Standard / www.cicm.com / November 2018 / PAGE 37
Top Five Prompter Payers Sep 18 Change from Aug 18
Hospitality 9.0 -4.7
Entertainment 9.7 -3.3
Education 11.2 4.2
Health & Social 11.4 -4.4
International Bodies
Northern
12.1 3.0
Ireland
15.6 DBT
North West Yorkshire &
Humberside
13.9 DBT
Bottom Five Poorest Payers Sep 18 Change 9.8 DBT
from Aug 18
Bottom Five Poorest Payers
Energy Supply 21.0 0.0
Professional & Scientific 19.0 -0.1
Business Admin & Support 17.6 -2.8
West
Transportation & Storage 17.2 1.4
Midlands
Mining & Quarrying Wales 16.4 12.8 -2.5DBT
13.5 DBT
Agriculture, Forestry and Fishing
Transportation & Storage
Northern
Energy Supply
Ireland
15.6 DBT
Northern
Ireland
15.6 DBT
Scotland
16.3 DBT
Scotland
16.3 DBT
Wales
13.5 DBT
Scotland
16.3 DBT
Wales
13.5 DBT
North West
13.9 DBT
Scotland
16.3 DBT
South North West
11.9
13.9 DBT
DBT
Wales
13.5 DBT
South West
11.9 DBT
North West
13.9 DBT
South West
11.9 DBT
Yorkshire &
Humberside
9.8 DBT
West
Midlands
12.8 DBT
London
16.2 DBT
East
Midlands
13.5 DBT
London
16.2 DBT
Yorkshire &
Humberside
9.8 DBT
West
Midlands
12.8 DBT
East
Midlands
13.5 DBT
Yorkshire &
Humberside
9.8 DBT
West
Midlands
12.8 DBT
London
16.2 DBT
Sector
East
Midlands
13.5 DBT
East
Midlands
13.5 DBT
London
16.2 DBT
East Anglia
14.4 DBT
South East
9.7 DBT
East Anglia
14.4 DBT
South East
9.7 DBT
East Anglia
14.4 DBT
South East
9.7 DBT
East Anglia
14.4 DBT
South East

CONSUMER CREDIT
BIG DEAL
What does the UK credit and collections sector look like
in a European context and how should it prepare for
Brexit and proposed new EU Directive on credit servicers
and purchasers?
AUTHOR – Angela McClean and Leigh Berkley
Angela McClean
Leigh Berkley
THERE are now less than six
months to go before 29 March
2019, the anticipated date for
the UK and EU to conclude the
withdrawal agreement. There is
a huge amount of coverage of
Brexit in the press and plenty of commentators
explaining and speculating on what Brexit may
mean but as yet no real clarity.
We are quite aware that for some in the
credit industry, Brexit may in fact have little or
no impact. However, the Institute of Directors
recently called on the government to speed up
guidance on what companies should expect
if a ‘no deal’ on leaving the EU is reached.
This followed a survey of 800 business leaders
showing that fewer than a third had made any
Brexit contingency plans.
The Financial Conduct Authority (FCA) has
also recently published a paper on ‘Preparing
your firm for Brexit’. It therefore seems to be the
right time for businesses to identify whether
Brexit may have implications for them. This is
important operationally but also from both a
governance and risk perspective.
FCA PAPER
It is still very unclear exactly what the
implications may be for individual companies
but the Financial Conduct Authority’s recent
paper goes some way to setting a framework
for solo regulated firms to begin to consider
and address. As it states, Brexit will mainly
impact UK firms conducting business in the
European Economic Area (EEA) and vice
versa, rather than UK firms just operating in
the UK. However, all firms should look at the
bigger picture of what they are doing now/
plan to do in the future. For example, firms
that have customers or counterparties based
in the EEA, transfer personal data between the
UK and EEA/vice versa, or are part of a wider
corporate group based in the EEA should seek
to understand on what legal basis that business
occurs and whether it can continue on that
basis after Brexit (in whatever form Brexit
takes). So too those firms who receive funding
from an entity in the EEA or who outsource or
delegate services to an EEA firm or vice versa.
Any such consideration should include
how an implementation period (during which
EU law would continue to apply in the UK and
currently being discussed from end March 2019
until end Dec 2020) could affect your business
as well as the scenario of a ‘no deal Brexit’
where the UK would operate as a third-party
country to the EU. It is important to consider
both possible risks and possible opportunities.
The next steps if you think you may be
affected by Brexit are to work out what changes
you might need to make (including any
regulatory permissions you may need or indeed
your clients may need which could affect you)
e.g. if relying on the existing EU passporting
regime.
DATA PROTECTION
The regulated credit and collections sector
is subject to an array of EU legislation. In
respect to some, for example the General Data
The Recognised Standard / www.cicm.com / November 2018 / PAGE 38

CONSUMER CREDIT
AUTHOR – Angela McClean and Leigh Berkley FCICM
In summary,
the European
Commission
has proposed
the regulation
of both credit
servicers
and credit
purchasers
with a common
supervisory
framework
Protection Regulation (GDPR), organisations
like the CSA has lobbied hard on behalf of our
industry to make it work for UK businesses
and consumers affected by our sector. The UK
Data Protection Act 2018 mirrors much of the
GDPR but as yet no final arrangements have
been agreed between the EU and the UK with
regard to what will happen with cross border
data transfers following Brexit. It is therefore
advisable to ensure you know where your data
is held and/or transferred for example to/from
clients, businesses providing services to your
firm or intra group for groups with businesses in
the EU. You should consider whether you need to
introduce clauses in contracts to permit transfer.
There is a general call by certain commentators
for legal certainty to avoid business interruption
and adverse effects for consumers and for a
declaration of adequacy from the Commission
to be made that the UK ensures an adequate
level of protection for the transfer of personal
data or, in the absence of such a declaration, for
another agreement to be reached between the UK
and the EU with respect to the adequacy of data
protection laws in the UK. In the absence of such
adequacy arrangements EU data controllers will
be in breach of the GDPR rules if they transfer
personal data to the UK without putting in
place necessary arrangements to safeguard the
personal data being transferred.
In addition to arrangements for personal
data other legal areas that members should
consider are:
• Commercial law: the implications of this are
largely unknown but you could consider such
matters as your sources of corporate funding, any
standard contractual clauses referring to the EU,
governing law and jurisdiction clauses referring
to EU law or courts and the possibility of the
imposition of tariffs and/or economic/exchange
rate changes.
• General employment issues: firms which have
EU residents as employees will need to consider
possible implications for such employees as well
as any likely impact on resources e.g. rights of
residence, assisting employees with application
procedures/to know the law and the changes.
Many commentators also believe there may be
a possible impact of Brexit where the UK might
revisit some of its employment law derived from
the EU generally post-Brexit e.g. amending TUPE
provisions to make them more business friendly,
allowing amendment of employment terms
following a TUPE transfer
• Decisions of the Court of Justice of the
European Union (CJEU) – as yet it is not clear
whether these will have any effect in the UK pre/
post Brexit/post Brexit transition so if members
rely on such decisions or are awaiting any
decisions these should be considered.
PROPOSED DIRECTIVE
All of the points covered above become
even more important in the light of the ‘Proposed
EU Directive on credit servicers, purchasers and
the recovery of collateral’. This new piece of EU
legislation could bring about major changes
whether we leave (with some UK firms possibly
excluded from certain areas of work) or stay in
the EU. Although this is still just a proposal, we
need to start planning for both scenarios.
In summary, the European Commission has
proposed the regulation of both credit servicers
and credit purchasers with a common supervisory
framework as part of the ongoing work in relation
to non-performing loans (NPLs) in Europe. It
is intended to encourage the development of
secondary markets for NPLs. As currently drafted,
there is still uncertainty as to which UK regulated
activities and credit agreements will be covered
by the Directive although from meetings with the
Commission it seems the intention is to govern
both debt collection and debt administration as
we understand these terms in the UK.
The CSA has responded to the proposals
making the point that while it welcomes the
move towards raising standards across Europe, it
will be important to align the standards so that
there is a level playing field for consumers and
companies operating in the different regions,
particularly when it comes to standards on
customer treatment and managing complaints.
The CSA and some of the larger CSA members,
and particularly FENCA who are closely engaged
with the Commission, have also raised questions
over the value of the large amount of information
that firms will be required to provide to their
local competent authorities. Two examples are
the provision of information about individual
credit agreements being transferred in debt
sales, and notification of the intention to directly
enforce credit agreements.
ADVERSE IMPACT
Both the Treasury and the FCA are working
together to understand the impact of the
proposals on the standard of debt collection
practices in the UK and the impact on potentially
vulnerable consumers. They believe that there
is some risk that the Directive, as drafted, may
adversely affect the current level of consumer
protection making it more difficult for the FCA
to take action against firms and for consumers to
seek recourse should things go wrong.
The Government has confirmed that
it is working with regulatory authorities,
EU institutions and other member states,
and of course with industry and consumer
representatives, to ensure that the proposed
measures do not undermine borrower protections
or the fair treatment of consumers. One risk is
the possibility of credit servicers based in other
member states providing debt collection services
in the UK and not being subject to FCA regulation
but rather to the regulation in their own member
state.
Angela McClean is General Counsel for the
Credit Services Association and Leigh Berkley
FCICM is a CSA Board Director.
The Recognised Standard / www.cicm.com / November 2018 / PAGE 39

LEGAL MATTERS
Recovery of Regulated Goods
Seize your asset and do it quickly but get it right!
Get it wrong and there is a price to pay.
DD +44 (0)191 233 9737 E jonathan.hall@dwf.law W www.dwf.law/recover
Jonathan Hall
Senior Associate
Finance Litigation
A
customer who is in breach
of a regulated credit
agreement will attract the
watchful eye of the creditor.
There may well be the
imminent need to recover
it. On most occasions a speedy recovery
is the key to maximising the chances of
a recovery and to mitigate the likely loss
when the agreement is terminated early.
On breach, a creditor will need to
consider carefully the next steps to take.
What breach has occurred and can it be
remedied? For example, if the customer
has failed to insure the vehicle then they
must be afforded the opportunity to put
that right. Alternatively, if they sub-hired
the vehicle it is arguable that such an act
cannot be remedied.
There may even be the occasion
where the situation lends itself more to
a non-breach event, such as being made
bankrupt, which requires a different form
of notice altogether.
Until those questions are answered
and a carefully worded statutory notice
is served and the agreement terminated,
any recovery action is a risky venture
and possibly one to the detriment of the
creditor.
SECTION 90 OF THE CONSUMER
CREDIT ACT 1974 (THE CCA)
If the customer has paid one-third or
more of the total amount payable in the
agreement, then the goods are protected
by Section 90 of the CCA. If that section
is breached by the creditor then the
consequences are severe – reimbursement
to the customer of all sums paid in the
agreement (Section 91).
Avoiding a breach of Section 90 is
paramount. At first glance it may appear
fairly straightforward. Repossession from
the ‘debtor’ can only take place if it is with
the customer's consent or by order of the
Court.
However, there are pitfalls to be had:
• Who is the ‘debtor’? It is well established
that repossessing goods from a
third party could still be classed as
repossessing from the debtor.
• What are the consequences of a customer
later changing their mind? It is arguable
that if the customer later withdrew their
consent then steps would need to be
taken to return the goods or preserve
them until a court order is obtained.
In motor finance, the above applies
to the repossession of vehicles from
customers but quite often the customer
has sold the vehicle to a third party. Faced
with that scenario, the creditor is often
left undecided on whether to repossess
the vehicle or not. Does Section 90 apply?
Is the third party protected in some way
in order to allow the third party to keep
the vehicle?
HIRE PURCHASE ACT 1964 (THE HPA)
The principle is that no one gives what
they do not have. In other words, if the
customer did not have ownership so it
follows that the third party could not have
taken ownership. However, Section 27 of
the HPA turns that on its head. Provided
the purchaser is a private purchaser acting
in good faith and without knowledge of
the finance agreement then the purchase
will be as if they had purchased it from
the creditor and thereby taken ownership.
There are several points to consider:
• has there been a ‘disposition’;
• was the disposition by the ‘debtor’ and;
• to what degree did the purchaser act in
good faith?
There is a heavy burden for the
purchaser to prove but quite often there
are flaws in their argument that throw
open points of dispute. For example – is
a vehicle swap a disposition? There is
a strong argument to say that a swap is
not a disposition and would defeat the
purchaser's claim to ownership.
It is of no surprise that these scenarios
are difficult ones to assess in order to
reach an informed opinion. If the creditor
gets it wrong then they are at risk of a
claim against them for 'conversion' – the
wrongful interference with title bringing
with it a liability for damages.
It is of a critical importance to any
creditor when charged with the task of
recovery to take the goods back as soon as
possible. It is likely to be the one and only
opportunity to make a sizeable recovery
before the customer ends up in a situation
where they cannot fulfil their liability to
pay the sums due after termination.
Recovery is therefore something that
needs to be done quickly but with careful
planning and execution to minimise the
risk of any wrongful act being committed
and to be successful in mitigating the loss
suffered.
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.
As a CICM member you can receive free legal advice from
DWF. Visit the CICM website and click on the free Advice Line.
The Recognised Standard / www.cicm.com / November 2018 / PAGE 40

Don't miss this essential
legal update if you work in
credit and collections
CICM Law Conference 2018
Wednesday 28 November
DWF LLP, The Walkie Talkie Building, 20 Fenchurch St, London, EC3M 3AG.
This year’s CICM Law Conference will focus on improving your case strategy in home courts and international
jurisdictions with the aim of equipping delegates with details of recent changes in the law and a sound
understanding of how to properly prepare a defended matter for Summary Judgment. As always, the conference has
been built with you in mind and will put you in front of key industry stakeholders from the legal profession providing
you with an interactive, informal event that focusses on how to improve your strategy as a Credit Professional.
This free event is for CICM Members, which will include lunch and refreshments and will offer you plenty of
opportunities to network with conference speakers and fellow delegates.
Programme of event:
09:30 Registration and refreshments
10:00 Welcome – Graham Dagnall – Partner and Head of Litigation, DWF LLP
10:05 Early determination – case analysis (Part 1) – James Perry, Technical Director, DWF, will take you through a
real-life example of a defended action.
11:00 Refreshments and networking
11:15 Early determination – mock hearing (Part 2) – Building upon the exercise in Part 1, Michael Javaherian,
Solicitor-Advocate, LPC Law, will take you through a mock Summary Judgment application.
12:15 Early determination – post-match analysis (Part 3). This will be your opportunity
to ask questions, building on your knowledge of the first two sessions, and analysing
your decision-making.
12:30 Lunch
13:15 Litigating in a foreign jurisdiction – Andy Leach, Partner, DWF, will take you
through an insightful and practical overview of this difficult area of law.
Offering solutions and tips.
13.45 How to get Irish debts smiling? – Eimear Collins, Partner and Susan Connolly
Associate, DWF Dublin, will hone in on the emerald isle providing practical tips
and trips for shaking cash out of Irish customers.
14.15 Connex - Alan Smith MCICM, HCE Group and members of Connex will discuss
how their judicial officers work to help collect outstanding debt and what might
the consequences be of enforcement in European jurisdictions post Brexit.
14.45 Questions and Networking – An opportunity to network with attendees and a
further opportunity to ask any questions about the day’s deliberations.
15.00 Close
Visit www.cicm.com to book your place
The Recognised Standard / www.cicm.com / November 2018 / PAGE 41

AWARD WINNERS
WINNING MENTALITY
As the deadline for entering the 2019 CICM British Credit
Awards passed, Credit Management asked some of the
2018 winners what it has meant to their businesses to
win an award?
IT was an honour to be nominated
for two awards, but to actually win
both on the night was a very special
feeling and a great accolade for the
business. ‘Project of the Year’ was
awarded for our work on the Cumbria
Flood Resilience programme in the
wake of the devastation caused by
storm Desmond and Eva in 2015. We
provided real world solutions to real
world problems, handling customers
affected by challenging circumstances
with sensitivity and professionalism
while recovering cash in a dynamic
project, and working round the clock to
maintain contact and provide support.
This was in addition to maintaining the
core cash collection activity, client onboarding,
daily admin and legal services
to the Group. To win best in class given
we were competing with industry
leaders was a stunning result for the
team and benchmarks us against the
best in the industry.
Darren Allardyce FCICM,
Credit Manager at Adler and Allan.
SINCE winning the award for our
commitment to training to improve
standards throughout the industry, we
have greatly expanded our training
offering, including new Level 2 and
Level 3 qualifications, new workshops
and two new training partnerships.
High Court Enforcement Group is the
only enforcement company that is a
recognised educational assessment
centre, delivering Level 2 and 3
Regulated Qualifications Framework
(RQF) training and Quality Mark
workshops.
We approached the Chartered
Institute of Legal Executives (CILEx),
which endorsed our qualifications and
workshops. Most of the training we
now deliver in England is under CILEx
endorsement.
We also approached the Ministry of
Defence (MOD) Enhanced Learning
Credits Scheme (ELC), which provides
financial support to members of
the Armed Forces for recognised
qualifications. We were accepted into
the scheme as a training provider in
March 2018.
Winning the award undoubtedly
helped us in our pitch to CILEx and
ELCAS and has also impressed clients
who want to undertake workshops or
qualifications for their employees.
David Grimes, Head of Training and
Development, High Court Enforcement
Group.
HMRC Debt Management was
recognised in three categories at
CICM British Credit Awards this year.
Maxine Montgomery from our East
Kilbride office won Rising Star of the
Year, Derek Bryce from our Livingston
office was highly commended as Credit
Professional of the Year, and our Debt
Resolution Team in Livingston was
awarded the Commercial Collections
Team of the Year.
Winning these awards is a great
achievement and we are over the moon
to be recognised at this level. Picking
up the Commercial Collections Team of
the Year meant so much to us here in
Livingston, especially being up against
stiff competition from other public and
private sector industry leaders.
The win celebrates and recognises
the variety, depth and quality of our
work, along with the work of our many
partners who support us day in, day out.
It was a great team effort by everyone
connected with the site and we remain
hugely proud of this success. Receiving
the award has given us increased
confidence in what we do and how we
do it, spurring us on to always challenge
and better ourselves moving forward.
.
Antonio Torrado, Livingston DRT
Operational Site Lead HM Revenue
& Customer.
The Recognised Standard / www.cicm.com / November 2018 / PAGE 42

AWARD WINNERS
CREDIT & Business Finance (CBF) was proud to be winners of the CICM Credit
Insurance Specialist of the Year award for the second year running. Winning the
award was an acknowledgment of the excellent service levels that we give our
clients and introducers, demonstrated by our 95 percent client retention rates and
our most successful new business production this year with over 85 percent being
new to market. Winning the award gave us additional credibility and has without
doubt helped us secure new to market business.
Trevor Price, Managing Director, Credit & Business Finance.
WINNING the Risk Management Achievement of the Year at the CICM awards was
an important event for the team at Company Watch. For us the award represented
industry recognition of the investment we have put into building a market-leading
platform that helps companies to understand the financial health of their clients,
suppliers and partners. Our entry for the awards focused on the expertise of the
team in being able to design, develop and support our credit reference platform, so
that it continues to help our credit and procurement customers in their role dayto-day.
Being endorsed by a prestigious institute has helped to raise our profile
within the credit industry. Credit professionals are keen to manage and mitigate
risks and have been able to find out more about our platform through our Award
communications and updates.
Anna Hutton-North, Marketing Director at Company Watch.
WINNING the CICM’s coveted British
Credit Award, confirms Court
Enforcement Services’ high ethical
standards and professionalism within
the credit and collections industry.
As this year’s winner of the Best
use of Credit Technology category,
Court Enforcement Services has
been recognised for its continued
investment in technology and
encouragement of innovation. The
Award has given our company the
opportunity to showcase our market
leading services on a national stage, in
IT was a huge honour to win this
award and a landmark moment in our
17-year history as a debt collection
agency. We were especially delighted
for our team’s continued outstanding
performance and hard work to be
recognised in what is a hugely
competitive and demanding climate
currently.
Businesses have rarely had to
overcome so many challenges when
it comes to credit control, so it’s vital
they have a partner they can rely on
and trust to help them get paid
faster, and identify ways to improve
their credit management
performance.
We’re incredibly proud to be able to
use the CICM’s winner’s logo on our
website and marketing collateral,
giving companies that are struggling
with late payment and looking for a
reliable partner the confidence to use
our services, and ultimately keep
cash flowing through their businesses.
Alex Hilton-Baird, Managing Director,
Hilton-Baird Collection Services.
particular our user-friendly App. Used
by all our Enforcement Agents, the
App is an example of our continuous
improvement and is a key component
in achieving a market leading position
in only four years.
Assessed by an independent panel
of experts, the judges’ decision is not
only uplifting for our team, but further
underlines our credibility with existing
and prospective clients alike.
Wayne Whitford FCICM, Director of
Court Enforcement Services.
RECEIVING the CICM British Credit Award
for the Consumer Credit Team of the Year
2018 was a huge deal for us, especially
internally. We work in a field which is
analytically challenging, but we’ve always
made sure to focus on customer service,
good conduct, strong leadership and staff
development. Recognition of this by such
a respected body was a sign that we’re
doing it the right way.
It looks great in our awards collection,
but the real value has been in what the
award means. Winning the award has
been a source of pride for us within
the organisation, but it’s also been very
useful when we are with existing and
prospective partners. It shows them what
we’re all about and helps prove that we’re
a leader in our field.
Nallan Suresh, Vice President Analytics
at Gain Credit.
DUN & Bradstreet was honoured to be
named as Credit Information Provider
of the Year at the 2018 awards. We’re
constantly working to help our customers
improve their business performance by
enhancing the data and analytics we
provide, and we were proud to win this
award for the ongoing development of our
D&B Credit solution.
Improving the experience for our
customers is paramount, but it’s also
rewarding for the team who work behind
the scenes to gain industry recognition
for the innovation they are delivering
for our clients. Having a seal of approval
from the judges reassures us that we’re on
the right trajectory, and we’re able to use
our award as a proof point in discussions
with new customers. The award evening
was also a great opportunity to make
new connections, reflect on the fastpaced
changes across our industry, and
celebrate all the great work taking place.
Tim Vine, Head of European Trade Credit
at Dun & Bradstreet.
WINNING the Credit Team of the Year
Award for Kier Group gave such a sense
of achievement to all 30 of the team.
Everyone worked so hard to become the
single back office for all matters relating
to credit control. To create the team in
just 18 months, deliver such excellent
results, and then win the award was the
icing on the cake. Every member of the
team has the winning logo on their email
with pride. To be the flagship department
in finance and mentioned in our inter
communications gave everyone a huge
sense of pride and achievement.
Martin Kirby FCICM, Head of Order to
Cash, Kier Finance Shared Service Centre.
The Recognised Standard / www.cicm.com / November 2018 / PAGE 43

EDUCATION - LEARN ONLINE
Credit Management
Essentials
NEW
Knowledge Hub
Premium
Content
Build knowledge of key credit management areas
Get recognition by studying for a CICM award
This new online course on CICM Knowledge Hub supports preparation for the CICM Level
2/3 Award in Credit Management (Trade, Export and Consumer) and Advanced Credit
Controller/Debt Collection Specialist Apprenticeship.
The course includes pre-course activities, 21 elearning modules covering all syllabus areas,
practice exam questions, a resources section and course completion certificate for learners
who complete key activities and pass a ‘mock’ examination.
COURSE MODULES COVER
• Introduction to credit function and costs
• Credit relationships with other departments
• Customer service in the credit department
• Credit policy and money laundering
• Credit performance and credit as a sales aid
• Customer types, payment terms and methods
• Credit documents, records, reports, systems
• Trade credit risk and collections
• Export risk and documentation
• Methods of payment in international credit
• Consumer customers and agreements
• Consumer risk assessment and collections
• Third parties in debt recovery and advice
• Trade, export, consumer comparison
CPD
10 0
The course takes approximately 100 hours to complete
and could form part of a taught programme or stand-alone
course.
Course fees apply (discounted CICM member rate – £325
for 12-month licence; £350 including 1½ hours Learning
Support; £450 with ten 2 hour virtual classes)* plus CICM
standard online exam fees.
Learners studying through a related CICM virtual class or
Learning Support will have free access to this course as
part of their programme.
Email: learningsupport@cicm.com
or call 01780 722909 to purchase course
*Fees are subject to VAT

CICM
KNOWLEDGE
HUB
Access over 1,000 credit
and collection resources
anytime, anywhere.
CICM Knowledge Hub is a new online platform for credit
professionals, providing one location to easily find the tools
and information you need to help you in your job.
‣ Tailored elearning courses ‣ CM Magazine articles
‣ Research papers from industry experts ‣ Webinars
‣ Best practice guidance.
CICM Members get free access to CICM Knowledge Hub and much
more from just £8* a month. Join now to explore all the benefits of
CICM Membership.
National and
regional events
Qualifications
and training
Mentor
Hub
Monthly
e-newsletter
Branches around
the country
*Price shown is for Affiliate Grade. Does not include joining fee. Subject to Terms & Conditions.

EDUCATION
First class Graduates
Prize winners Jordan Baker and Phillip Atkinson
reflect on their experiences studying at the University
of Plymouth and plans for a career in credit
management.
Meet Jordan Baker
What I liked about the course
Credit Management was one of my favourite
modules during my three years at the University
of Plymouth. Throughout you truly gain an
understanding of the ever-growing importance of
credit management within a business and how,
when neglected, it can cause serious problems.
The course requires creative thinking as no
problem will ever have a set solution. Plans will
change from business to business depending on
its size or circumstances so the planning in itself
is extremely important.
Areas of credit management I most enjoyed
The course provided a perfect blend of practice
and theory, well reflected in our assignment
which enabled us to choose real companies
and take financial information and key
financial ratios to determine their credit rating
and financial stability. I particularly enjoyed
discovering how a company’s credit management
policy can be the deciding factor in whether it
succeeds or fails. Also interesting was the topic
of late payments and bad debts and the effects
that they can have on a company's cash flow.
My teacher
The quality of teaching was evident from the
get-go with Professor Salima Paul’s passion and
enthusiasm, making the subject very interesting.
She actively encourages you to think creatively
and explore around the subject while providing
excellent anecdotes based upon her experiences
within the industry. Her comforting, supportive
nature provided guidance whenever it was
needed and helped build a strong foundation of
knowledge.
What I plan to do
I am yet to decide which career path I wish to
pursue, however, I feel that at the time of writing
that credit management is an area I am highly
interested in.
How the prize will help me
I would like to thank Salima and Hays
recruitment for recognising my efforts. The prize
was a nice finishing touch to end my time at
University and will give me something to discuss
at job interviews.
Jordan Baker BA(Hons) Winner of Hays prize
for the Best Credit Management Student
Picture shows Hays representatives,
Jane Mooney and Dana Evans, with
Jordan Baker BA(Hons) and
Professor Salima Paul FCICM
The quality of
teaching was
evident from
the get-go with
Professor Salima
Paul’s passion
and enthusiasm,
making the
subject very
interesting
The Recognised Standard / www.cicm.com / November 2018 / PAGE 46

EDUCATION
without it. A very close second was
deciding who to give credit to and the
less obvious reasons about who not to
and why. I felt like credit management
took me out of that standard number
crunching world of accountancy and
hiding behind a spreadsheet, and put
me back into a world full of talking to
real people and watching the success
of your work unfold in front of you,
while still maintaining that fulfilment of
executing the maths and business that I
was originally so keen for.
My teacher
The teaching for the credit management
module was hands down the best of
any other university module I had.
Professor Salima Paul took the classes
and I believe it was her vast in-depth
knowledge and passion for the subject
that made every lecture come alive
and made me really want to learn.
Credit management was definitely my
favourite module at university (and the
one I was happiest to get out of bed for!)
Dr Debbie Tuckwood with Phillip Atkinson BA (Hons)
Meet Phillip Atkinson
What I liked about the course
I always enjoyed maths and business at
school, so finding a course that combined
the two was an absolute gift for me. Every
day I learnt something different, whether
that was academic such as working out
the international cost of capital, or more
trivial such as why supermarkets place
fruit and veg by the entrance. The optional
modules were really interesting as well.
The course included modules such as
law, entrepreneurship, risk management,
auditing, a huge array of languages and
many more. Yet after picking the ones
that sounded fun (and they were), it really
surprised me to discover that my favourite
module by far was credit management.
Areas of credit management I most
enjoyed
The section of credit management which
really engaged me was learning all the
different ways a debt could be collected
and the tips and tricks a credit manager
had at their disposal to do so. To me, it
turned the stereotypical image of a credit
manager into the hero of the company,
with companies succeeding greatly with
good credit management, failing majorly
I felt like credit
management took
me out of that
standard number
crunching world of
accountancy and
hiding behind a
spreadsheet, and put
me back into a world
full of talking to real
people.
What I’m doing and what I want
to do next
After university I was lucky enough to
find a job within two months. I work
for HMT LLP who are an excellent
corporate finance company based
in Henley-on-Thames. I’m currently
a business analyst which really
suits my interests in the financial
sector. Thankfully my love for credit
management has not gone to waste, as
I’ve been recently working on a couple
of projects involving bad debts and what
the next stage should be to deal with
them.
My near future plans are to become a
CICM member and work towards CICM
qualifications. I can then use these skills
to become a specialist in my current
company where I can continue to
network while always moving forward
and hopefully higher up the ranks.
How the prize will help me
The CICM prize money will be used for
a CICM studying membership. I feel
right now this is the best time to work
towards gaining the qualification as I’m
in current employment and it will help
with not only this speciality, but also
furthering my professional network.
Phillip Atkinson BA (Hons) Winner of
CICM prize for the Best Coursework
on Credit Management
The Recognised Standard / www.cicm.com / November 2018 / PAGE 47

Would you like to be CICM qualified?
Plan now to start studying in January 2019
Now is the time to think about starting your studies in January and speaking to your
employer. Our education advisers can give advice on how to get started and the options
available. Partly qualified? Find out which units you could complete to gain a CICM
qualification. You could replace an exam with an assignment for example, telephone
collections. Study options are explained below.
EVENING CLASSES
CICM Teaching Centres offer classroom-based learning in
Credit Management (Trade, Export and Consumer), Accounting
Principles, Business Law and Business Environment towards
the CICM Level 3 Diploma in Credit Management and some offer
study towards the CICM Level 5 Diploma in Credit Management.
VIRTUAL CLASSROOM
The CICM Credit Academy offers the opportunity to study in a
virtual classroom through the web for the Level 3 Diploma in
Credit Management examined units Credit Management (Trade,
Export and 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.
IN-COMPANY CLASSES
Some Teaching Centres and the 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 ten learners or more.
SUPPORTED HOME STUDY
Supported home study suits those who wish to receive
tutorial support, but would like some flexibility. A practical
option if you are unable to attend college on a regular basis
for the Level 3 Diploma in Credit Management examined
units or CICM Level 5 Diploma in Credit Management
Supported home study providers:
CICM Credit Academy Learning Support Service
OLC (Europe)
Haddoum Training, Milton Keynes (including three Saturday
classes)
UNSUPPORTED HOME STUDY
This provides the cheapest and most flexible option to study for
Level 3 Diploma examined units and Level 5 Diploma units. As
a minimum requirement, you would need to purchase relevant
study texts and guides prepared by the CICM for these units and
specialist text books. This is not a correspondence course and in
using this method you work alone.
CICM TRAINING
CICM offers open and in-company training days, linked to CICM
assignments (see CICM website for details). Works well for all
CICM qualifications (Credit Management, Debt Collections and
Money and Debt Advice). In some cases, the Institute can link
organisations own training to CICM awards and CICM would be
pleased to advise on this.
CONTACT DETAILS FOR
EVENING AND VIRTUAL CLASSES
Basingstoke
brenda.linger@btconnect.com
Avnet, Bracknell
Brenda.linger@btconnect.com
Leeds City College
karen.odgers@leedscitycollege.ac.uk
South Leicestershire College
info@slcollege.ac.uk
Scorpion, Wolverhampton
petercartwright@debtman.freeserve.co.uk
London Metropolitan University
professionalcourses@londonmet.ac.uk
Haddoum Training, Milton Keynes:
haddoum.training@yahoo.co.uk
Malta Association of Credit Management
info@macm.org.uk
Portsmouth
brenda.linger@btconnect.com
Southampton
brenda.linger@btconnect.com
Stoke-on-Trent College
mdodd1sc@stokecoll.ac.uk
CICM Virtual Class
creditacademy@cicm.com
The Organisational Learning Centre, (OLC Europe)
CICM Credit Academy, Manchester
greg@olceurope.com
South Africa
sharonmcmanus@creditskills.co.za
Dimensions International College
enquiry@dimensions.edu.sg.
For further details contact
professionalqualifications@cicm.com
or telephone: 01780 722909
The Recognised Standard / www.cicm.com / November 2018 / PAGE 48

Does your credit team need
an immediate skills boost?
Don’t leave it too late
in the financial year
Guide your
team in the
right direction
CICM delivers training worldwide to organisations from all sectors on every aspect of
credit. Programmes can be tailored or bespoke and delivered at your convenience.
Our trainers will inspire and motivate your team with practical techniques to improve
Don’t leave it too late in the financial year to invest in your team.
’’effectiveness.
’’
I like the way this has made
us think differently about
existing tasks and how we
can improve/share targets
going forward
Very enjoyable. The trainer
understood the concerns
and issues that we have and
presented in an empathetic
and supportive way
’’
’’
The training is easy to follow
and very informative. I have
learned a number of new
skills and the trainer has
many hints and tips to help
along the way
I really enjoyed this training.
It helped me to understand
key collection techniques
and the way we can use
those to collect money
efficiently
’’
The day was very
enjoyable and the trainer
made it simple and easy
to break down. I loved the
six main reasons for nonpayment
as it shows how
much I over analyse at
times and will really help
with my work. Thank you
to the trainer
If you would like to find out more information contact:
T: 01780 722907 E: training@cicm.com W: cicm.com
The Recognised Standard / www.cicm.com / November 2018 / PAGE 49

HR MATTERS
Candid camera
The legalities of filming your employees.
AUTHOR – Gareth Edwards
IT’S not hard to find examples of
those in financial roles who’ve
abused trust to steal. In one, last
December, the manager of the
Louth branch of Halifax Bank was
sentenced for stealing £234,000 to
pay off a blackmailer.
Of course, there will be situations where
employers consider covert surveillance
appropriate. In those circumstances,
however, employers will not have free rein.
There are legal issues that arise from
using recordings in the workplace.
Employers looking to monitor the conduct
of their employees – particularly those
using covert recording – should consider
their actions carefully, particularly in
light of the requirements of the General
Data Protection Regulation (GDPR), which
became law in May.
A recent case considered the lawfulness
of surveillance within the workplace. In the
case of López Ribalda and others v Spain
a Spanish supermarket decided to install
surveillance cameras after it uncovered
theft at one of its stores. A number of
visible surveillance cameras were installed,
aimed at detecting theft by customers, as
well as hidden video recorders to monitor
supermarket cashiers.
COVERT CAPTURE
The footage collected showed five
employees stealing items from the
supermarket. The employees were
confronted and admitted to theft,
after which they were dismissed. The
employees pursued unfair dismissal claims
through the Spanish courts, which were
unsuccessful. The employees subsequently
pursued claims at the European Court of
Human Rights (ECtHR) arguing that the
use of the covert video evidence in the
unfair dismissal proceedings had infringed
their privacy rights under Article 8(1) of the
European Convention on Human Rights.
The ECtHR agreed that the use of covert
cameras constituted a violation of the
employees' right to privacy. The ECtHR
looked at whether the Spanish courts
had properly balanced the employees’
rights to respect for their private life and
the employer's interest in protecting its
property rights, and the public interest
in administration of justice. The ECtHR
determined that, whilst the employer was
concerned about thefts and was entitled to
investigate, the use of covert recording in
this way breached Spanish data protection
law and the guidance issued by the Spanish
data protection agency.
In this case, not enough had been done
to safeguard the employees' rights – for
instance by targeting the surveillance
only to those individuals who were under
suspicion, or only recording for limited
periods of time. The ECtHR also noted
that other safeguards might have included
informing the employees of the recording
and providing them with the information
required under Spanish law.
In the UK, the Information
Commissioner's Office (ICO) guidance
states that ‘covert monitoring should not
normally be considered. It will be rare
for covert monitoring of workers to be
justified. It should therefore only be used
in exceptional circumstances.’ Examples
of an exceptional circumstances include
a specific investigation into suspected
criminal activity, where openness would
be likely to prejudice the prevention
or detection of crime or equivalent
malpractice or the apprehension or
prosecution of offenders.
In order to assess whether prejudice
is likely, employers must conduct a
detailed investigation and obtain senior
management approval. In addition, under
the GDPR, employers must conduct data
protection impact assessments when
undertaking processes that are likely to
result in a high risk to the rights of data
subjects (i.e. those whose personal data is
being collected). Covert monitoring will
fall within the scope of this obligation.
Therefore, employers are placed under an
additional obligation when considering
covert surveillance.
MONITORING POLICY
Finally, employers who use video
surveillance should ensure that they have
a policy in place setting out what CCTV
monitoring takes place; the reasons why it
has been deployed; and how the recordings
are used.
It’s worth noting that the Information
Commissioner’s Office (ICO) has a page on
its website concerning monitoring at work.
It says that CCTV monitoring can be used
in the workplace for a number of reasons,
however, if CCTV is installed the employer
should make sure employees are aware of
it. This is usually done by displaying signs
to say where the locations of the cameras
are. Workers should also be given the
reason for the monitoring.
Signs should be clear, visible and
readable; contain details of the purpose of
the surveillance and who to contact about
the scheme; and include contact details
such as website address, telephone number
or email address.
Importantly, under data protection
legislation, if an employer tells employees
the reason why cameras are used is to
prevent theft, the employer cannot then
use the footage for another reason, such as
recording entry and exit of workers from
the workplace.
Gareth Edwards is a partner in the employment
team at VWV.gedwards@vwv.co.uk.
The Recognised Standard / www.cicm.com / November 2018 / PAGE 50

The Recognised Standard / www.cicm.com / November 2018 / PAGE 51

CALENDAR
The rise and rise of
Peer-to-Peer alternative
finance. Page 13
The story behind the
collapse of Toys R Us.
Page 36
THE CICM MAGAZINE FOR CONSUMER AND
COMMERCIAL CREDIT PROFESSIONALS
CM December 2017.indd 1 21/11/2017 13:41
Sean Feast comments
on the Bell Pottinger
saga. Page 4
Are CRAs doing
enough around bogus
accounts. Page 26
THE CICM MAGAZINE FOR
CONSUMER AND COMMERCIAL
CREDIT PROFESSIONALS
CM October 2017.indd 1 21/09/2017 13:47
MARCH 2018 £12.00
People Power
How self-serve is
supporting customer
engagement. Page 14
Taken On Trust
Sean Feast speaks to
Joanna Elson of the Money
Advice Trust. Page 22
THE CICM MAGAZINE FOR CONSUMER AND
COMMERCIAL CREDIT PROFESSIONALS
Winners of the
CICM British
Credit Awards
2018
CM March 2018.indd 1 21/02/2018 13:56
How AI is challenging
our ethical code.
Page 17
The state of the credit
management nation.
Page 34
THE CICM MAGAZINE FOR CONSUMER AND
COMMERCIAL CREDIT PROFESSIONALS
CM April 2018.indd 1 21/03/2018 11:10
Sean Feast talks to
the new CEO of Hoist
Finance. Page 13
How Bexley Council
is improving supplier
relationships. Page 16
THE CICM MAGAZINE FOR CONSUMER AND
COMMERCIAL CREDIT PROFESSIONALS
CM June 2018.indd 1 21/05/2018 11:04
New CICM members
The Institute welcomes new members who have recently joined
MEMBERS
ASSOCIATE
AFFILIATE
MEMBER BY EXAM
Brendan Casey
Ciaran Grace
Shakiba Zulfikar Ahsen
Louisa Hall
Swetha Krishnan
Lisa Myatt
Marianne Rimmer
Isabelle Boulard
Susan Curtis
Jonathan Dermott
David Dyer
Lynsey Fitch
Joanna Harrison
Laura Hosey
Christian Mancini
Sarah McKnight
Jacqueline Pearson
Yasmin Roberts
Craig Routledge
Jack Webster
Tracey Yeo
Mark Evans
Stephen Skipwith
STUDYING MEMBERS
Janice Abbott
Mohamed Aburas
Janet Bainton
Kieran Boyce
Ruth Bricklebank
Delana Brown
Emma Bryan
Kevin Burt
John Campbell
Claudia Carausu
Nayan Chauhan
Natasha Chinn
Jack Colvin
Andrew Crane
Aikaterini Delliou
Oliver Dennis
Marie Dodd
Paula Durão
Aillene Erasga
Dora Espar
Scott Fairclough
Thomas Faulkner
Victoria Ferguson
Amy Foley
Laren Gomes
Michelle Green
Alexander Hammond
Lee Hancock
Richard Harris
Gary Hughes
Afzahl Hussain
Matthew Jackson
Gawain Johnson
Hema Johnson
Chloe Jones
Clare Joyce
Jordan Kay
Andrew Kennerk
Burt Kort
Anna Lamb
Steven Lambert
Kenneth Lewis
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Fernando Marcal Graca
Shaheen McCaskie
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Bethany Rayson
Ewan Rodger
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David Russell
Matthew Sales
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Kathryn Thomson
Konstantinos Toulis
Sarah Walton
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The Recognised Standard / www.cicm.com / November 2018 / PAGE 52

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The Recognised Standard / www.cicm.com / November 2018 / PAGE 53

SOAPBOX CHALLENGE
Obsession with perception
Hadley Eames speaks out on the unhealthy
focus on the personal brand.
AS someone who falls
within the ‘millennial’
bracket, the use of social
networks has had an
overwhelming impact on
my daily routine. People
of my age are ‘Insta-fanatics’ (myself
included). We’ll often post a photo to ‘the
gram’ before disclosing it on Facebook,
Snapchat and, if you are so inclined,
Twitter. Instagram seems no more than a
means to ‘big oneself up’ or otherwise to
make a tedious existence seem glamorous
and exciting.
Despite the ‘good’ that is brought about
from social networking, there is an
absolute obsession that millennials have
with their perceived image and social
acceptance. In the summer I graduated
from University and the atmosphere was
more febrile with the majority attempting
to get that perfect Instagram to post to
their some few hundred acquaintances
rather than focusing on everyone’s
personal achievements. A quote from
a fellow graduate: “It’s important to
have a strong Instagram presence.” This
individual had spent hours coordinating
her outfits with everything ranging from
the water fountain to the stage. It seemed
as if people were more absorbed about
achieving multiple photo opportunities
rather than focusing on the unique
experience of graduation.
On the face of it, the use of various
platforms to present a positive image of
oneself is not obviously harmful or to
be criticised. However, obsessive use of
social media can lead to the user having
a totally unrealistic view of themselves
and create a real problem when they can’t
exceed their self-generated expectations.
There is plenty of evidence that shows the
inability to match the created image or
criticism by others who don’t accept it can
lead to isolation, depression, and worse.
“When we derive a sense of worth based
on how we are doing relative to others,
we place our happiness in a variable that
is completely beyond our control,” Dr
Tim Bono, author of When Likes Aren’t
Enough explained in Healthista.
Those who engage in all of this are
perhaps seeking to create a brand of
themselves and crave acceptability. It’s
interesting that most posts on Instagram
occur later in the evening when more
people are online and there is a better
opportunity to achieve more ‘likes’. Maybe
there is some significance that there is
a spike 25 minutes before Love Island
comes onto our screens? Marketers are
aware of this and target viewers to try and
encourage them to buy products that fit
their self-created image.
When everyone is showcasing their
holidays, nights out and promotions, you
start to exaggerate your own experiences
in order to maintain the perception that
you are their equal. If you do this well
enough on Instagram, YouTube etc. you
can become a mini celebrity to all your
faux friends.
Having re-read what I have written
and recognised I’m part of this millennial
behaviour, I wonder if I should toss my
iPhone into the river and crush my Mac?
But then I was concerned no-one would
know how my work experience week
went, and what’s happening next!
Hadley is far younger
than he thinks.
14
SOAPBOX
challenge
The Recognised Standard / www.cicm.com / November 2018 / PAGE 54

Are you a Leader
or follower?
CICMQ accreditation is a proven model that has consistently delivered
dramatic improvements in cashflow and efficiency
CICMQ is the hallmark of industry leading organisations
The CICM Best Practice Network is where CICMQ accredited organisations
come together to develop, share and celebrate best practice in credit and
collections
Be a leader – Join the CICM Best Practice Network today
To find out more about flexible options to gain CICMQ accreditation
E: cicmq@cicm.com, T: 01780 722900
The Recognised Standard / www.cicm.com / November 2018 / PAGE 55

MEET THE PARTNERS
THEY'RE WAITING TO TALK TO YOU...
For further information and to discuss the opportunities of entering into a
Corporate Partnership with the CICM, contact Marketing on 01780 727273
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.
www.hays.co.uk
HighRadius is the leading provider of Integrated
Receivables solutions for automating credit, collections,
cash allocation, deductions and eBilling operations.
The solutions are delivered as a software-as-a-service
(SaaS) or as SAP-certified Accelerators for SAP
Finance Receivables Management. With a track record
of reducing days sales outstanding (DSO), bad-debt
and increasing operational efficiency, HighRadius
solutions help teams achieve payback within a year.
www.highradius.com
We offer the most powerful comparable data
resource on private companies.
We capture and treat private company
information for better decision making and
increased efficiency, so we’re ideally suited to help
credit professionals.
Orbis, our global company database has
information on 250 million companies, and offers:
Standardised financials
Financial strength metrics
Extensive corporate structures
www.bvdinfo.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.
www.chrissandersconsulting.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.
www.keyivr.co.uk
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
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.
www.credica.co.uk
Moore Stephens is a top ten accounting and
advisory network. Our national creditor services
team has expert insights in debt recovery. This,
combined with unparalleled industry and sector
knowledge, enables our team to assist creditors in
recovering outstanding debts.
www.moorestephens.co.uk
The Recognised Standard / www.cicm.com / November 2018 / PAGE 56

Proud supporters
of CICMQ
With over 90 years’ experience, we have an
in-depth understanding of the importance of
maintaining customer relationships whilst efficiently
and effectively collecting monies owed, we deliver
when it comes to collecting outstanding debts.
Our Client focus is reflected in the customer
relationships. Structuring our service to meet your
specific needs, providing a collection strategy that
echoes your business character, trading patterns
and budget.
www.atradiuscollections.com/uk/
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.
www.graydon.co.uk
Rimilia provides intelligent, finance automation
solutions that enable customers to get paid
on time and control their cashflow and cash
collection in real time. Rimilia’s software solutions
use sophisticated analytics and artificial intelligence
to predict customer payment behaviour and
easily match and reconcile payments, removing
the uncertainty of cash collection. Rimilia’s
software automates the complete accounts
receivable process improving cash allocation, bank
reconciliation and credit management operations.
www.rimilia.com
DWF is a global legal business, transforming legal
services through our people for our clients. Led by
Managing Partner & CEO Andrew Leaitherland,
we have over 26 key locations and 2,800 people
delivering services and solutions that go beyond
expectations. 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.
www.dwf.law/recover
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.
www.datainterconnect.com
Dun & Bradstreet grows the most valuable
relationships in business. Whether your customer
portfolio spans a city, a country or the globe, Dun
& Bradstreet delivers the data, analytics and insight
to grow your most profitable relationships and
obtain a global, unified view of your customer
relationships across credit and collections.
www.dnb.co.uk
Organisations around the world rely on Company
Watch’s industry-leading financial analytics to drive
their credit risk processes. Our financial risk
modelling and ability to map medium to long-term
risk as well as short-term credit risk set us apart
from other credit reference agencies. With our
unique H-Score® predicting almost 90 percent
of corporate insolvencies in advance, it is the risk
management tool of choice, providing actionable
intelligence in an uncertain world.
www.companywatch.net
Bottomline Technologies (NASDAQ: EPAY) helps
businesses pay and get paid. Businesses and banks
rely on Bottomline for domestic and international
payments, effective cash management tools,
automated workflows for payment processing
and bill review and state of the art fraud
detection, behavioural analytics and regulatory
compliance. Every day, we help our customers by
making complex business payments simple, secure
and seamless.
www.bottomline.com/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 cloud-based
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.
www.tinubu.com
The Recognised Standard
The Recognised Standard / www.cicm.com / November 2018 / PAGE 57

BRANCH NEWS
A
fitting climax to the annual Kent
Branch Annual Charity Wine and
Wisdom Event (sponsored by Credit
Limits International) was reached
when ‘Codswallop!’ emerged
victorious after a close final round
based on flags of the world. Captained by Bob
Baldwin, a founding member of the Kent Branch
and ex-chairman for many years, the team narrowly
beat off the challenge from ‘Happy Hay’ from Hays
Specialist Recruitment, Maidstone, who were the
reigning champions from 2017.
The event was again held at the Assembly
Rooms in Faversham and nine teams competed
for the Kent Branch Shield in a spirited and
competitive atmosphere. Other regular entrants,
such as ‘Les Chasseurs De Dettes’ (aka Credit Limits
International), Lambert Smith Hampton and Henry
Schein were joined by newcomers to the event such
as UFC Gyms, Forensic Investigation & Taxation
Services and Jarmans Solicitors. We thank them all
for their support.
Simon Paterson MCICM, Branch Treasurer, again
took on the role of Quiz Master and devised a diverse
range of questions, including rounds on Kent Towns,
anagrams of types of biscuit and quirky posers on
the 2018 FIFA World Cup. (Who knew that the official
match ball was kept on the International Space
Station between March and June this year?)
The beneficiary of the monies raised through
entrance fees and the raffle was chosen by the
winning team. As a result, The Alzheimer’s Society
will be sent a donation of £750 from CICM Kent
Branch for work in the Kent area.
Thanks must again go to Simon and Marion for
organising food and beverages, Pierre for sponsoring
the wine and the Committee for their hard work in
making this another success.
Author: Kevin Artlett FCICM
BROGDALE is a tiny hamlet near Faversham
that holds the world’s largest international
fruit collection, and this was the venue
for this year’s Kent Branch Summer Social
with around 30 members and guests in
attendance. Everyone was glad that the sun
came out and the weather was warm, with
a hint that autumn was well on its way.
The event started with a talk about
Brogdale from a great character of the farm,
John. He described the mass of varieties of
fruit the farm grows, and the research it
does on behalf of the Government. Then
came the best bit; sampling various fruit
juices that the farm produces each year.
Next came the highly anticipated tractor
Wine and Wisdom
Kent Branch
End of Summer Social
Kent Branch
tour of the farm through the various
orchards. Many were excited about this
part of the day, especially Richard Brown
from the East of England Branch, who
came along for the day with his wife Susan.
After this we were served with a welldeserved
cream tea. The delicate floral
china tea sets along with piles of scones,
cakes and meringues just made your mouth
water and your eyes pop. We all dived in for
our own personal sugar rush – diets were
definitely on hold!
Once the leisurely cake fest was over,
many of us ventured to the Mad Cat
microbrewery on site, run by Peter Meany
who gave an interesting talk about how
some of the finest small batch ales in this
area were produced. We were able to sample
some of his produce, with the assistance
of Branch Secretary, Kevin Artlett FCICM,
being barman for the duration.
After the organised part of the day, we
freely wandered around the farm shops
on site. Many bought some of the finest
locally sourced produce and the awardwinning
butcher had a big rush on just
before closing.
All in all, another great summer event
by our Kent Branch. I wonder what plans
we have for next year?
Author: Tracey Westell MCICM
The Recognised Standard / www.cicm.com / November 2018 / PAGE 58

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The Recognised Standard / www.cicm.com / November 2018 / PAGE 59
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Servicing customers all over the world and being
a staple company domestically, a rare opportunity has
arisen at a rapidly growing tech company for a highly
motivated individual. With a strong emphasis on the
entire accounts receivable function, you will look after
the revenue function, including deferred income, accrued
income and revenue recognition. You will also implement
a new system to automate the billing function and as
such you must be completely comfortable with accounts
receivable and revenue based reporting. Experience
with international VAT is essential. This is a fantastic
opportunity where you can achieve results and be
rewarded accordingly. Ref: 3296758
Contact Akshay Caussy on 020 3465 0020
or email akshay.caussy@hays.com
AR MANAGER
ESTABLISH STRATEGY AND STRUCTURE
London, up to £30,000
This is a great opportunity to work within a start-up
fashion company based in North London. The company
have amazing growth plans and is rapidly expanding
throughout Europe. In this role, you will be in charge of
the process and be allowed to set up procedures and
increase efficiencies. To be successful, you will be from
a strong AR background with experience in credit control,
invoicing, reconciliation and have the drive and tenacity
to want to work and improve on processes and procedure.
Ref: 3254661
Contact Kabir Gulabkhan on 020 3465 0020
or email kabir.gulabkhan@hays.com
CREDIT CONTROLLER
FLUENT SPANISH OR ITALIAN
London, £30,000-£34,000 + bonus + benefits
A well-established and thriving media business based
in London is seeking a bilingual credit controller to join
its credit control team. You will work in a fast-paced
environment and be responsible for collecting payment
from 1,000+ high value accounts. You will be fluent
in English and Italian or Spanish. Some credit control
experience is essential as are intermediate Excel skills.
The role will suit a team player who is able to forge strong
relationships with a genuine passion for customer service,
high energy and a desire to learn.
Ref: 3352972
Contact Julia Foster on 020 3465 0020
or email julia.foster2@hays.com
SALES LEDGER
PROGRESS YOUR CAREER
London, up to £30,000
An advertising agency based in West London requires an
accounts receivable professional to join its finance team
on a six month contract basis. You will be responsible
for raising invoices, reconciliations and cash allocations,
alongside credit control. Reporting to the Financial
Controller, you will be working in a finance team of four.
To be successful, you will have previous experience
within the complete accounts receivable function.
This is an exciting opportunity to join an excellent
company, giving you the opportunity to progress your
career and gain more experience and responsibility.
Ref: 3426188
Contact Summer Mostafa on 020 3465 0020
or email summer.mostafa@hays.com
The Recognised Standard / www.cicm.com / November 2018 / PAGE 60

CREDIT CONTROLLER
SUCCESS THROUGH EXPERTISE
Barnet, £25,000-£30,000
This long-established property management company
requires an experience credit controller to join its office
in Barnet. Working as part of a small accounts team, you
will report to the Finance Manager and be responsible
for all aspects of the sales ledger and credit control
functions. To be successful, you will have previous
credit control experience gained within a property
management company, have excellent communication
and problem solving skills as well as be results driven
and have the ability to collect and deal effectively with
people at all levels.
Ref: 3421308
Contact Nick Euripides on 020 3818 7043
or email nick.euripides@hays.com
SENIOR CREDIT CONTROLLER
IMPLEMENT IDEAS AND PROCESSES
Croydon, £27,000 + CICM study support
This highly recognised company has a reputation for
innovation, excellence and progression opportunities.
You will be responsible for the timely collection of due
date payments, maximising cash flow and minimising
exposure to risk. Key duties includes maintaining regular
contact with customers, planning and arranging customer
visits, proactively planning pre-due date collection
calls, processing write-off’s, updating cash forecast for
accounts, credit checking accounts, querying resolution
and cash allocations. With credit control experience, you
will be an effective decision maker and problem solver,
with the ability to work in a team as well as individually
with minimum supervision. Ref: 3351128
Contact Sarah Nelson on 020 8686 4686
or email sarah.nelson@hays.com
CREDIT CONTROLLER
JOIN AN INTERNATIONAL LAW FIRM
London, up to £28,000
An international, highly reputable law firm is looking
for a credit control assistant to join its finance team in
its fast paced office. This role will be pure credit control
chasing debt via telephone and email, managing WIP,
reviewing age debt balances, reporting, attending
monthly reviews and liaising regularly with fee
earners, partners and clients to build strong working
relationships. Credit control experience is required within
a law firm or similar professional services industry.
If you are highly motivated, organised and can keep
calm under pressure, then this is the role for you.
Ref: 3421599
Contact Holly Parkes on 020 3465 0020
or email holly.parkes@hays.com
MULTILINGUAL SENIOR
CREDIT CONTROLLER
MAKE AN IMPACT
Sheffield, £23,000 + benefits
This well-established, market leading company is looking
for a senior credit controller with linguistic capability to
join its finance team. Your duties will include ensuring
cash collection is achieved and payments obtained by
agreed terms through the maintenance and control of
the sales ledger across the entire EMEA region. Previous
credit control experience is essential and you will ideally
be a French or Italian speaker. To be successful, you will
have the ability to work towards and achieve deadlines,
work well as part of a team or on your own initiative,
possess good self-motivational and organisational skills
and excellent Excel skills. Ref: 3178916
Contact Daniel Cherry on 0114 273 8775
or email daniel.cherry@hays.com
This is just a small selection of the many
opportunities we have available for credit
professionals. To find out more email
hayscicm@hays.com or visit us online.
hays.co.uk/creditcontrol
The Recognised Standard / www.cicm.com / November 2018 / PAGE 61

FORTHCOMING EVENTS
Full list of events can be found on our website: www.cicm.com/events
CICM EVENTS
7 November
CICM North East Branch
NORTH SHIELDS
Starting Your Own Business – Practical Advice
and Avoiding The Pitfalls (2 CPD hours)
Contact : Allan Poole 07983 422 000
northeastbranch@cicm.com
VENUE : The Town Mission Lower Rudyerd
Street, North Shields, NE29 6NG
7 November
CICM Bristol and West Branch
BRISTOL
Quiz Evening
Contact : Email your attendance to
bristolandwestbranch@cicm.com
Tim Peakman 07765956894
VENUE : The Prince Street Social,
37-41 Prince Street, Bristol, BS1 4PS
7 November
CICM East of England Branch
LONDON
Deal or No Deal Conference (5 CPD hours)
Contact : Carol Baker (01277) 201554 /
07710 392934
VENUE : Goodman Masson, 120 Aldersgate
Street, London, EC1A 4JQ
Contact : Visit www.cicm.com to book your place
VENUE : DWF LLP The Walkie Talkie Building,
20 Fenchurch Street, London, EC3M 3AG
28 November
CICM South Wales Branch
CARDIFF
Are The Robots Coming or Are They Here
Already? What will you do?
Contact : Diana Keeling (07921) 492348
To reserve a place please email
southwalesbranch@cicm.com
Booking Deadline: 21 November 2018
VENUE : Atradius 3 Harbour Road, Cardiff,
CF10 4WZ
1 December
CICM Sheffield and District Branch –
SHEFFIELD
Tis The Season To Be Networking
Contact : Paula Uttley
(0114) 2518850 (239) / 0771 3367588
VENUE : Genting Casino St Paul's Place,
Arundel Gate, Sheffield, S1 2PN
TRAINING DAYS
9 November
CICM WEBINAR ONLINE
CREDIT MANAGEMENT IN A NUTSHELL
bsf@forumsinternational.co.uk
VENUE : Experian Riverleen House, Electric Ave,
Nottingham,
11 - 13 NOVEMBER
ICTF’s Annual Global Trade Symposium
USA
CICM members can obtain a US$50 discount
against the advertised registration fees by
emailing tim.lane@ictfworld.org.
Contact : ICTFinfo@ictfworld.org More details on
our online events calendar.
VENUE : The Ritz-Carlton 1 North Fort
Lauderdale Beach Boulevard, Fort Lauderdale, FL
33304, United States Minor Outlying Islands.
15 November
Forums International – International
Apparel Credit Forum (IAF)
Contact : For more information email iaf@
forumsinternational.co.uk
VENUE : TBC
15 November
Experian Credit Forum –
Home Enhancements
BIRMINGHAM
Contact : Please contact Brent.cumming@
experian.com on 07885 675 092 if you would like
further details.
VENUE : BHETA Offices Birmingham
7 November
CICM Sheffield and District Branch
ROTHERHAM
The Journey Ahead (1 CPD hour)
Contact : Daniel Cherry 0114 2738775
VENUE : AMP Technology Centre
Advanced Manufacturing Park, Brunel Way,
Catcliffe, Rotherham, S60 5WG
9 November
CICM Sussex & Surrey Branch
LEATHERHEAD, SURREY
The Changing Business Landscape and
Insolvency (1 CPD hour)
Contact : Natascha Whitehead
(01483) 564692 / 0777 078 6433
VENUE : Menzies LLP Ashcombe House,
5 The Crescent, Leatherhead, Surrey KT22 8DY
13 November
CICM Northern Ireland Branch
IRELAND
All Ireland Utilities Conference (6 CPD hours)
Contact : Paul Taylor
(+44) 2870350682 / +44 7979992110
VENUE : CityNorth Hotel Gormanston,
Co. Meath, Ireland
28 November
CICM Law Conference 2018
LONDON
Don't miss this essential legal update if you
work in credit and collections.
This event is free to attend for members of
the CICM. If you are not already a member,
join today to enjoy this and a host of other
inclusive benefits. See page 41 for more details.
9 November
CICM WEBINAR
ONLINE
TELEPHONE COLLECTIONS
OTHER EVENTS
4 - 7 November
Rimilia – AFP 2018 – Chicago
USA
Contact : Visit link for details https://conference.
afponline.org/
VENUE : McCormick Place West Building,
2301 S King Dr, Chicago, IL 60616, United States
5-6 November
12th Annual European AML & Financial
Crime Conference
LONDON
CICM Members will receive a percent discount
upon registration – please quote ‘CICM’ when you
register to secure this.
Contact : To guarantee your place, please
complete and return the conference registration
form which may be found at
http://www.amlpforum.com/euconference/
registration/ Alternatively, please contact Lucia
on +44 20 8785 6300.
VENUE : Merchant Taylors’ Hall London,
EC2R 8JB
7 NOVEMBER
Forums International – Business & Office
Supplies Credit Forum (BSF)
NOTTINGHAM
Contact : For more information email
20 November
Experian Credit Forum – Construction
DERBY
Contact : Please contact Brent.cumming@
experian.com on 07885 675 092 if you would like
further details.
VENUE : PWC Pegasus Business Park, Beverley
Rd, Derby, DE74 2UZ
21 November
Experian Credit Forum – Fashion
LONDON
Contact : Please contact Brent.cumming@
experian.com on 07885 675 092 if you would like
further details.
VENUE : Cardinal Place, Experian London
22 November
Experian Credit Forum – Cosmetics
LONDON
Contact : Please contact Brent.cumming@
experian.com on 07885 675 092 if you would like
further details.
VENUE : TBC London
6 - 7 December
Forums International – International
Telecoms Risk Forum (ITRF)
LONDON
Contact : For more information email itrf@
forumsinternational.co.uk
VENUE : DLA Piper London
The Recognised Standard / www.cicm.com / November 2018 / PAGE 62

STAND OUT
FROM THE
CROWD
With over 2,400 qualifications awarded in the last
three years, CICM is the recognised standard.
Find out more about flexible options to suit your
role and lifestyle.
Visit qualifications.cicm.com
The Recognised Standard / www.cicm.com / November 2018 / PAGE 63

Cr£ditWho?
CICM Directory of Services
COLLECTIONS
COLLECTIONS LEGAL
CONSULTANCY
Atradius Collections Ltd
3 Harbour Drive,
Capital Waterside,
Cardiff Bay, Cardiff, CF10 4WZ
United Kingdom
T: +44 (0)2920 824700
W: www.atradiuscollections.com/uk/
Atradius Collections Ltd is an established specialist in business
to business collections. As the collections division of the Atradius
Crédito y Caución, we have a strong position sharing history,
knowledge and reputation.
Annually handling more than 110,000 cases and recovering over
a billion EUROs in collections at any one time, we deliver when
it comes to collecting outstanding debts. With over 90 years’
experience, we have an in-depth understanding of the importance of
maintaining customer relationships whilst efficiently and effectively
collecting monies owed.
The individual nature of our clients’ customer relationships is
reflected in the customer focus we provide, structuring our service
to meet your specific needs. We work closely with clients to provide
them with a collection strategy that echoes their business character,
trading patterns and budget.
For further information contact: Hans Meijer, UK and Ireland Country
Director (hans.meijer@atradius.com).
INTERNATIONAL COLLECTIONS
Premium Collections Limited
3 Caidan House, Canal Road
Timperley, Cheshire. WA14 1TD
T: +44 (0)161 962 4695
E: paul.daine@premiumcollections.co.uk
W: www.premiumcollections.co.uk
For all your credit management requirements Premium Collections
has the solution to suit you. Operating on a national and international
basis we can tailor a package of products and services to meet your
requirements.
Services include B2B collections, B2C collections, international
collections, absconder tracing, asset repossessions, status reporting
and litigation support.
Managed from our offices in Manchester, Harrogate and Dublin our
network of 55 partners cover the World.
Contact Paul Daine FCICM on +44 (0)161 962 4695 or
paul.daine@premiumcollections.co.uk
www.premiumcollections.co.uk
COLLECTIONS LEGAL
Blaser Mills Law
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
A full-service firm, Blaser Mills Law’s experienced Commercial
Recoveries team offer pre-legal collections, debt recovery,
litigation, dispute resolution and insolvency. The team includes
CICM qualified staff, recommended in both Legal 500 and
Chambers & Partners legal directories.
Offices in High Wycombe, Amersham, Rickmansworth, London
and Silverstone
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...”
STRIPES SOLICITORS LIMITED
St George’s House, 56 Peter Street, Manchester, M2 3NQ
W: www.stripes-solicitors.co.uk
T: 0161 832 5000
95percent success rate in disputed litigation
cases over several decades
Stripes technical excellence, tenacity and commercial insight has led
to this 95 percent success rate over several decades. We have been
particularly recommended as a leading law firm by the Legal 500 in
the litigious field for representing clients with significant and complex
issues.
Our specialist commercial debt recovery and insolvency team work
with businesses ranging from SMEs to larger PLCs recovering
business debts on a no cost or fixed fee basis and often
recovering debts within days. We aim to understand your business
and tailor our services to suit your requirements. Our online service
provides you with 24/7 access to manage your account, to upload
new debtor cases and to generate new legal instructions.
Yuill + Kyle
Capella, 60 York Street, Glasgow, G2 8JX, Scotland, UK
T: 0141 572 4251
E: scowan@yuill-kyle.co.uk
W: www.debtscotland.com
Do You Have Trouble Collecting Debts in
Scotland? We Don’t
Yuill + Kyle is one of Scotland’s leading debt recovery and credit
control law firms. With over 100 years of experience, we are
specialists in resolving disputed and undisputed debts. Our track
record for successful recoveries means you have just moved one step
closer to getting your money back.
How we can help you:
• Specialist advice for all of your legal matters
• A responsive and straightforward approach
• Providing you with solutions-driven advice
• Delivering cost certainty and value for money
Our services
• Pre-sue
• Fast track collections
• Judgement enforcement
• Insolvency
• Bankruptcy
• Liquidation
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 business-to-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.
COURT ENFORCEMENT SERVICES
Court Enforcement Services
Wayne Whitford – Director
M: +44 (0)7834 748 183 T : +44 (0)1992 663 399
E : wayne@courtenforcementservices.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
BUREAU VAN DIJK
Northburgh House, 10 Northburgh Street, London, EC1V 0PP
T: +44 (0)20 7549 5000E: bvd@bvdinfo.com
W: www.bvdinfo.com
We offer the most powerful comparable data resource on private
companies. We capture and treat private company information for
better decision making and increased efficiency, so we’re ideally suited
to help credit professionals. Orbis, our global company database has
information on 250 million companies, and offers:
• Standardised financials so you can assess companies globally
• Financial strength metrics using a range of models and including a
qualitative score for when detailed financials aren’t available
• Projected financials
• Extensive corporate structures so you can assess the complete group
– or take the financial stability of the parent into account
Credit Catalyst is a platform where you can combine information from
Orbis with you own knowledge of your customers and get dashboard
views of your portfolio.
Register for your free trial at bvdinfo.com.
The Recognised Standard / www.cicm.com / November 2018 / PAGE 64

FOR INFORMATION,
OPTIONS AND PRICING
PLEASE EMAIL:
grace@cabbell.co.uk
CREDIT INFORMATION
CREDIT INFORMATION
CREDIT MANAGEMENT SOFTWARE
Company Watch
Centurion House, 37 Jewry Street,
LONDON. EC3N 2ER
T: +44 (0)20 7043 3300
E: info@companywatch.net
W: www.companywatch.net
Organisations around the world rely on Company Watch’s industryleading
financial analytics to drive their credit risk processes. Our
financial risk modelling and ability to map medium to long-term risk as
well as short-term credit risk set us apart from other credit reference
agencies.
Quality and rigour run through everything we do, from our unique
method of assessing corporate financial health via our H-Score®, to
developing analytics on our customers’ in-house data.
With the H-Score® predicting almost 90 percent of corporate
insolvencies in advance, it is the risk management tool of choice,
providing actionable intelligence in an uncertain world.
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.
Credica Ltd
Building 168, Maxell Avenue, Harwell Oxford, Oxon. OX11 0QT
T: 01235 856400E: 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 3 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.
CREDIT MANAGEMENT SOFTWARE
CoCredo
Missenden Abbey, Great Missenden, Bucks, HP16 0BD
T: 01494 790600
E: customerservice@cocredo.com
W: www.cocredo.co.uk
CoCredo’s award winning credit reporting and monitoring systems have
helped to protect over £27 billion of turnover on behalf of our customers.
Our company data is updated continually throughout the day and access
to the online portal is available 365 days a year 24/7.
At CoCredo we aggregate data from a range of leading providers in
the UK and across the globe so that our customers can view the best
available data in an easy to read report. We offer customers XML
Integration and D.N.A Portfolio Management as well as an industry-first
Dual Report, comparing two leading providers opinions in one report.
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.
CREDIT MANAGEMENT SOFTWARE
Experian
The Sir John Peace Building
Experian Way
NG2 Business Park
Nottingham NG80 1ZZ
T: 0844 481 9920
W: www.experian.co.uk/business-information/
For over 30 years Experian have been processing, matching and deriving
insights to provide accurate, up-to-date information that helps B2B
organisations to make more effective, fact based decisions, reduce
risks and meet regulatory standards. We turn complex data into clear
insights that help manage UK and international businesses to maximise
opportunities for growth and identify and minimise the associated risks.
Blending our business and consumer data we can offer a truly blended
score for sole traders and enhanced scoring on SME’s to tell you more
about the business and the people behind the business. Experian can
support with new business, acquisition through to collections while
managing KYC requirements online or via our suite of APIs.
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.
CREDIT MANAGEMENT SOFTWARE
STA International
3rd Floor, Colman House, King Street Maidstone , ME14 1DN
T: +44(0)844 324 0660.
E: enquiries@staonline.com
W: 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.
The Recognised Standard / www.cicm.com / November 2018 / PAGE 65 continues on page 66 >

Cr£ditWho?
CICM Directory of Services
FOR INFORMATION,
OPTIONS AND PRICING
PLEASE EMAIL:
grace@cabbell.co.uk
CREDIT MANAGEMENT SOFTWARE
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.
CREDIT MANAGEMENT SOFTWARE
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.
Proud supporters
of CICMQ
Rimilia
Corbett House, Westonhall Road, Bromsgrove, B60 4AL
T: +44 (0)1527 872123 E: enquiries@rimilia.com
W: www.rimilia.com
Operating globally across any sector, Rimilia provides intelligent,
finance automation solutions that enable customers to get paid on time
and control their cashflow and cash collection in real time. Rimilia’s
software solutions use sophisticated analytics and artificial intelligence
(AI) to predict customer payment behaviour and easily match and
reconcile payments, removing the uncertainty of cash collection. The
Rimilia software automates the complete accounts receivable process
and eliminates unallocated cash, reducing manual activity by an
average 70% and achieving best in class matching rates recognised
by industry specialists such as The Hackett Group.
CREDIT MANAGEMENT SOFTWARE
DATA AND ANALYTICS
Dun & Bradstreet
Marlow International, Parkway Marlow
Buckinghamshire SL7 1AJ
Telephone: (0800) 001-234 Website: www.dnb.co.uk
Dun & Bradstreet grows the most valuable relationships in business.
By uncovering truth and meaning from data, we connect our
customers with the prospects, suppliers, clients and partners that
matter most, and have since 1841. Whether your customer portfolio
spans a city, a country or the globe, Dun & Bradstreet delivers the
data, analytics and insight to grow your most profitable relationships
and navigate credit risk. By combining your insights with our own,
Dun & Bradstreet facilitates a global, unified view of your customer
relationships across credit and collections.
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
Moore Stephens
Moore Stephens LLP, 150 Aldersgate Street,
London EC1A 4AB
T: +44 (0) 20 7334 9191
E: Brendan.clarkson@moorestephens.com
W: www.moorestephens.co.uk
Moore Stephens is a top ten accounting and advisory network,
with offices throughout the UK. Our clients range from individuals
and entrepreneurs, through to large organisations and complex
international businesses. We partner with them, supporting their
aspirations and helping them to thrive in a challenging world.
Our national creditor services team has expert insights in debt
recovery which, combined with their unparalleled industry and
sector knowledge, enables them to assist creditors in recovering
outstanding debts.
LEGAL MATTERS
PAYMENT SOLUTIONS
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 •Reduce risk
•Offer extended terms to customers
•Provide an additional line of bank independent credit to drive
growth •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.
PAYMENT SOLUTIONS
Bottomline Technologies
115 Chatham Street, Reading
Berks RG1 7JX | UK
T: 0870 081 8250 E: emea-info@bottomline.com
W: www.bottomline.com/uk
Bottomline Technologies (NASDAQ: EPAY) helps businesses
pay and get paid. Businesses and banks rely on Bottomline for
domestic and international payments, effective cash management
tools, automated workflows for payment processing and bill
review and state of the art fraud detection, behavioural analytics
and regulatory compliance. Businesses around the world depend
on Bottomline solutions to help them pay and get paid, including
some of the world’s largest systemic banks, private and publicly
traded companies and Insurers. Every day, we help our customers
by making complex business payments simple, secure and seamless.
RECRUITMENT
PORTFOLIO
CREDIT CONTROL
Portfolio Credit Control
1 Finsbury Square, London. EC2A 1AE
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.
HighRadius
T: +44 7399 406889
E: gwyn.roberts@highradius.com
W: www.highradius.com
HighRadius is the leading provider of Integrated Receivables
solutions for automating receivables and payment functions such
as credit, collections, cash allocation, deductions and eBilling.
The Integrated Receivables suite is delivered as a software-as-aservice
(SaaS). HighRadius also offers SAP-certified Accelerators
for SAP S/4HANA Finance Receivables Management, enabling
large enterprises to maximize the value of their SAP investments.
HighRadius Integrated Receivables solutions have a proven track
record of reducing days sales outstanding (DSO), bad-debt and
increasing operation efficiency, enabling companies to achieve an
ROI in less than a year.
DWF LLP
David Scottow Senior Director
D +44 113 261 6169 M +44 7833 092628
E: David.Scottow@dwf.law W: www.dwf.law/recover
DWF is a global legal business, transforming legal services through
our people for our clients. Led by Managing Partner & CEO Andrew
Leaitherland, we have over 26 key locations and 2,800 people
delivering services and solutions that go beyond expectations. We
have received recognition for our work by The Financial Times who
named us as one of Europe's most innovative legal advisers, and we
have a range of stand-alone consultative services, technology and
products in addition to the traditional legal offering.
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.
The Recognised Standard / www.cicm.com / November 2018 / PAGE 66

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

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