Credit Management Jan:Feb 2019

CREDIT MANAGEMENT
CM
JANUARY/FEBRUARY 2019 £12.50
THE CICM MAGAZINE FOR CONSUMER AND
COMMERCIAL CREDIT PROFESSIONALS
Looking Forward
Predictions for 2019
and beyond
80
YEARS
Strengthening the
Insolvency regulatory
framework. Page 5
Sean Feast speaks
to Tim Vine of D&B.
Page 18

22
View from the seafront
DAVID ANDREWS
JANUARY /
FEBRUARY 2019
CONTENTS
13 – OPINION
Sean Feast FCICM asks the experts
what 2019 has in store for the world of
consumer collections.
18 – TOWN AND COUNTRY
Tim Vine from Dun & Bradstreet
discusses the value of business
information.
22 – VIEW FROM THE SEAFRONT
David Andrews gives his cheery views
for the year ahead.
32
Opinion
DEREK SCOTT
FCICM
32 – OPINION
Derek Scott FCICM shares his
experiences on the role image and
perception can play in the credit
industry.
34 – 80 YEARS OF THE CICM
A fond look back at some of the
landmark moments in the Institute’s
history.
40 – LEGAL MATTERS
A closer look at new proposals from the
FCA to extend the FOS Jurisdiction.
52 – CAREERS ADVICE
Top tips on how to land yourself a New
Year pay increase.
18
Town & Country
TIM VINE
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) / Ute Ogholoh MCICM / 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’
area, and click on the tab labelled ‘Credit Management magazine’
Credit Management is distributed to the entire UK and international CICM
membership, as well as additional subscribers
Reproduction in whole or part is forbidden without specific permission. Opinions expressed in this magazine do
not, unless stated, reflect those of the Chartered Institute of Credit Management. The Editor reserves the right to
abbreviate letters if necessary. The Institute is registered as a charity. The mark ‘Credit Management’ is a registered
trade mark of the Chartered Institute of Credit Management.
Any articles published relating to English law will differ from laws in Scotland and Wales.
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
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
Advertising
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Telephone: 020 3603 7946
Email: grace@cabbell.co.uk
Printers
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Single copies: £12.50
ISSN 0265-2099
The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 3

EDITOR’S COLUMN
The need for consistent, coherent
and collaborative advice
Sean Feast FCICM
Managing Editor
SINCE my article appeared in
the December issue of Credit
Management about the debt
advice sector, my editor’s email
inbox has been full to busting.
OK, so that might be a slight
exaggeration, brought on by an excess
of jolliness left over from the Christmas
festivities, along with the Sprouts, but I
have certainly been contacted officially
and through other channels by a strong
number of those wishing to agree or
disagree with what was written. Again,
actually, that is another exaggeration, for
at present I am yet to hear a dissenting
voice, though interviews we have lined
up with the chief executives of Christians
Against Poverty (CAP) and StepChange
Debt Charity (SCDC) in the coming weeks
will undoubtedly add further intelligence
and insight to the debate.
Creditors and collection agencies are
quite right in challenging the debt advice
sector to prove that it is offering best advice
and value for money, and not simply going
to pay for salaries and overheads. But what
they are also questioning, which is perhaps
even more important, is what the debt
advice sector and the regulator are doing
to ensure the quality of advice debtors are
receiving.
I believe all of the industry – creditors,
agencies and advisors alike – are agreed
that whatever happens going forward,
the quality of advice given needs to be
consistent, coherent, and collaborative.
Consumers in financial straits – debtors
as we used to call them and some people
in Government still do – need to be able
to trust the advice and information they
are given. That advice needs to help them
to manage their debt and improve their
outcome, and not make a bad situation
worse.
All of the organisations I have
spoken to recognise the challenge, and
particularly the need to maintain quality
as the volumes increase, as increase they
must. Demand is not the issue; capacity
most certainly is, and to that end let
us hope that the new Single Financial
Guidance body (SFGB) is successful in
directing consumers to help where it is
available (see news page 10).
An excess of jolliness left
over from the Christmas
festivities, along with the
Sprouts.
The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 4

CMNEWS
A round-up of news stories from the
world of consumer and commercial credit
Written by – Sean Feast FCICM and Alex Simmons
New regulatory framework
for IVA monitoring
THE Insolvency Practitioners
Association (IPA) is launching
a new regulatory framework
for the continuous monitoring
of the use of an Individual Voluntary
Arrangement (IVA) by the high-volume
IVA providers.
The Insolvency Service classifies
high-volume as those firms that are
responsible for two percent of the total
number of IVAs annually. An IVA is one of
the debt management solutions available
to consumers, which allows individuals
to enter into a binding agreement with
their creditors to repay part of what they
owe over a typical period of five years. An
IVA must be supervised by an Insolvency
Practitioner (IP) and the majority of IPs
who work on IVAs are regulated by the
IPA.
The quantity of people seeking debt
relief through an IVA has increased
significantly over the past ten years, with
numbers in 2017 exceeding 59,000 and
the IPA is keen to ensure that the sector
has a robust and meaningful process of
regulation that will give protection to
consumer debtors and particularly those
considered to be vulnerable.
The IPA believes that the traditional
method of regulation does not facilitate
meaningful supervision of the highvolume
providers who are reliant on
technology to deliver the volumes of
cases that are commenced each year.
Consequently, it will introduce a new way
to regulate the industry using continuous
monitoring, with real-time access to
systems.
This, the IPA says, will provide the
IPA inspectors with the information
they need to target visits on those
areas that require rapid improvement.
The IPA reports that it will also expand
its inspector network, and bring in
specialists, to enable more frequent
inspections for those organisations
operating in this work with up to four
visits a year, where there is usually just
one.
Michelle Thorp, CEO of the IPA says the
vast majority of IPs act with integrity and
in the very best interests of their clients
and stakeholders: “Given the changing
nature of the industry, we have been
working to adapt our regulatory practices
and this is an important improvement
to how we deliver our obligations to
regulate IPs in this sector.
“The outcome, which is a much more
intensive regime, will be to improve
trust and confidence in this sector and
to enable us to help our IPs improve their
working practices. The outcome for the
consumer should be a greater degree of
trust in the help they are getting at what
can be an incredibly tough time. It will
also provide confidence to creditors the
IVA process is transparent and that the
regulatory framework meaningful and
robust.”
insolvency-practitioners.org.uk
CICM restructures to deliver further member focus
THE CICM has announced a series of
new appointments and changes in roles
and responsibilities at the Institute’s
headquarters.
Effective from January 2019, Sue
Chapple has become Director of Strategic
Relationships looking after Corporate
Partners, business development and all
other aspects of strategic relationships,
while Anne Strahan has assumed
responsibility for HR, Governance, and other
administrative areas, in addition to her
current finance role as Director of Finance
and Administration.
Claire Bishop will take on the role of
Director of Operations with responsibility
for membership, branches, marketing,
events, IT, qualifications, education, and
other support activity, while Debbie
Tuckwood will be relinquishing operational
responsibility and taking on a new parttime
role of Chief Adviser (Professional
Development).
Debbie’s extensive skills and experience
will be utilised in promoting the CICM’s
qualifications more widely, identifying
how they should develop and evolve,
and working on specific training and
educational projects with clients and
member organisations.
Debbie will remain a member of the
senior management team alongside
Anne, Claire and Sue. In the short-term,
Debbie will continue as Responsible
Officer for the Awarding Body under Ofqual
requirements.
The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 5

NEWS
IN BRIEF
CICM TO RELAUNCH
EAST SCOTLAND BRANCH
Loans to SMEs
There were 69,980 new loans and overdrafts
approved for a value of £7 billion in Q3
2018, according to UK Finance data. Banks
approved eight out of ten applications for
SME Finance. Cash held in both immediate
and notice accessible SME accounts
continue to rise. Mike Conroy, Director of
Commercial Finance at UK Finance says:
“Firms continue to build cash deposits and
demand for finance remains subdued and
steady across the UK’s regions and sectors,
suggesting businesses are exercising caution
in the face of future uncertainty. However,
some businesses are now increasing the use
of their agreed overdraft facilities in order to
manage current cashflow but not leveraging
these to their full capacity.”
ukfinance.org.uk
THE CICM is working on a new plan to
relaunch its East Scotland branch later
in the year, with training and networking
events at the top of the list.
The aim is to provide opportunities for
members to talk to like-minded credit
professionals and share experience and
best practice, as well as practical examples
of what has and hasn’t worked in member
organisations.
“We cannot do this without the continuing
support of our existing members and, we are
hoping, some new members too,” says the
CICM’s Claire Bishop. “This is your chance
to get involved and influence the CICM
membership offering and branch activity in
Scotland.”
Paul Taylor, CICM Regional Representative
for Ireland, Northern Ireland and Scotland,
adds: “We urge all those involved in credit
management and interested in helping
shape the future of credit in Scotland to
contact us and have your voices heard.
Whether you are a studying Member, Fellow,
Affiliate, Member or Associate (or not yet
a member) we want to hear from you.
Get in touch to find out more. There is no
commitment needed, we just want to hear
your ideas.”
If you have a passion for credit
management, call Paul on 028 7035 0682, or
email paul.taylor@lynasfoodservice.com, or
CICM headquarters at branches@cicm.com
or 01780 722903.
Cyber security
A Financial Conduct Authority (FCA) review
of investment managers and wholesale
banks has warned that the industry has only
a limited understanding of cyber risk. The
FCA said bosses tend to dump responsibility
on their IT departments and called for
firms to not see cyber security as the sole
responsibility of their IT function ‘but as a
part of a firm's activities and business as a
whole’. fca.org.uk
Board appointments
THE Financial Conduct Authority (FCA) and
Payment Systems Regulator (PSR) Boards
have appointed new members to three
decision-making committees: the FCA’s
Competition Decisions Committee (CDC) and
the PSR’s Competition Decisions Committee
and Enforcement Decisions Committee
(EDC). The three committees are responsible
for taking certain competition law and
regulatory decisions when a settlement
cannot be reached. Lesley Ainsworth, Simon
Polito, David Thomas and Tim Tutton have
been appointed as members of the PSR’s EDC
and the FCA and PSR’s CDCs. Alasdair Smith
has been appointed a panel member of the
FCA’s CDC. fca.org.uk psr.org.uk
New Chair at
Stepchange
STEPCHANGE Debt Charity has a new
chairman in John Griffith-Jones following
the resignation of Sir Hector Sants last
October on his appointment as the Chair of
the new Single Financial Guidance Body.
Chris Stern has been acting as interim Chair
of StepChange Debt Charity for the past three
months. John Griffith-Jones was Chair of
the Financial Conduct Authority from 2013
to 2018, and of its subsidiary, the Payment
Systems Regulator. Before this, he worked at
KPMG from 1975 to 2012, becoming CEO and
subsequently Chairman and Senior Partner
of KPMG in the UK. He is Vice Chairman of
the National Numeracy Trust, and also holds
a number of other voluntary roles.
stepchange.org
PMI shows positive signs
FIGURES from the latest IHS Markit/
CIPS UK Manufacturing Purchasing
Managers’ Index for December 2018 show
strength and a dramatic improvement on
the performance of recent months, at a
six-month high of 54.2 – an impressive
leap forwards compared to November’s
seasonally adjusted 53.6; and even better
considering the disappointing 51.1 result in
October. It is also a strong result compared
to the faltering Eurozone figure of 51.4 for
the same period.
New business has increased steadily
SME confidence on the wane
RESEARCH commissioned by Dun &
Bradstreet suggests UK SME confidence in
future financial success is down 19 percent
compared to last year. The study found that
almost a third (32 percent) of respondents
have considered leaving the UK to increase
their chances of success.
The research also shows that late
payments have risen in the past year.
Cashflow remains a critical issue, with the
average amount owed to SMEs at any one
time over the past 12 months now at £80,141
– an increase of nearly 25 percent from 2017.
The consequences of these late payments
include cashflow difficulties (31 percent),
delayed payments to suppliers (28 percent)
and reduced profit performance (22 percent).
Nearly two thirds of respondents (63 percent)
feel that there should be financial penalties
in place to tackle late payments and 62
percent believe there should be legislation in
place to mitigate the problem.
Other factors cited as impacting the
future financial success of SMEs include
recruitment of the right talent and resources
(35 percent), adoption of new technology (26
percent) and ability to deal with increased
regulation such as the GDPR (20 percent).
since the drop in October, with increased
industry confidence apparent for the year
ahead. Stocks of purchases increased and
contributed to growth in the sector. New
orders are up at the highest for ten months,
coming from domestic and international
markets.
Cost pressures have also eased, with
input costs falling to the lowest for two and
a half months. However, output costs are
up, reflecting price increases being passed
on to customers and poor exchange rates.
news.ihsmarkit.com
Operating in an uncertain business
environment has had a clear impact on
SME business plans, with 63 percent
of respondents saying they had a clear
business strategy in place, down from 70
percent in 2017.
“Given the changing political, regulatory
and economic landscape, it’s unsurprising
that small business confidence is down,” says
Tim Vine, Head of European Trade Credit
at Dun & Bradstreet. “Despite the range of
factors at play, positively, over half of the
businesses we spoke to were confident that
their business can achieve financial growth
over the next five years. The resilience of
SMEs will stand them in very good stead
through these changing and complex times.”
dnb.co.uk
See our Town and
Country feature on
page 18.
The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 6

CICM SCHEME TO FIND THE
FELLOWS OF THE FUTURE
>NEWS
IN BRIEF
THE CICM has announced plans for a new
development scheme to identify credit or
collections professionals who have shown
the potential to become future leaders.
The aim is to give the candidates
opportunities to develop and practice their
leadership and strategic skills over a period
of one year, helping to equip them for future
leadership/Fellowship level roles.
There will be ten spaces available in 2019.
Any participant must be: a current MCICM or
MCICM(Grad) CICM member; nominated by
a current FCICM; currently in a management
level role; or newly appointed to a leadership
level role.
It is important that the participants have
the full support of their company or line
Serious failings
THE Financial Conduct Authority (FCA)
has fined Santander £32,817,800 for failing
to effectively process the accounts and
investments of deceased customers.
Santander did not transfer funds totalling
over £183 million to beneficiaries when it
should have done. Some 40,428 customers
were directly affected. Santander also
failed to disclose information relating
to the issues with the probate and
bereavement process to the FCA after it
became aware of them. fca.org.uk
manager or nominating Fellow, and the
CICM will be encouraging participants to
work on projects to put their newly
formed skills into practice. Main areas of
learning will include: knowing yourself
as a leader; leadership styles; stepping
up: technical credit skills versus
behaviours; and understanding business
strategy.
Nomination deadline is 22 Feb 2019.
The ten participants will be chosen and
notified on 4 March 2019. The nominators
and nominees will be invited to the Fellows'
Celebratory Lunch 2019 (with a reduced rate
ticket) at the War Rooms in London. You can
nominate by completing the application by
emailing CICMmembership@cicm.com.
Role model failure
THE Cabinet Office is missing its
targets to pay suppliers on time. The
Government had pledged to be a
model payer and settle 80 percent of its
invoices within five days and the rest
within 30 days, but latest figures
show those targets have been missed.
Data for the second quarter of the
2018/19 financial year shows 75.1
percent of invoices were paid within
five days and 88.8 percent within 30
days.
SERVICE
WORTH MERIT
THE Meritorious Service Award is
granted as a rare recognition of an
especially meritorious contribution
to the Institute. If you would like to
nominate a member, visit
cicm.com/cicm-meritorious-award
University challenge
COLLABORATING with 103 universities, 52
colleges, and five student accommodation
providers, STA International recovered
nearly £17 million of unpaid tuition and
accommodation fees from students in
143 countries worldwide in 2018. Some
86 percent of all international monies
recovered came from STA’s efforts in the
UK, saving clients the added cost and
time of using overseas agents. China,
India, Nigeria, and the USA headed our
league tables for the value and volume of
debts placed, plus the amount collected.
stainternational.com
Mixed bag
THE latest NatWest Regional PMI showed
markedly different trends in performance
across areas of the UK private sector
midway through the fourth quarter, with
downturns in activity in London, the
North East and South West contributing
to a slowdown in overall UK growth.
A particular bright spot was the East
Midlands, which registered the strongest
output growth for the second month
running.
markiteconomics.com
Survey shows fall in demand for specialist lending
BUSINESS volumes were flat for
specialist lenders in the last
quarter of 2018, according to the
latest CBI/PwC financial services
survey, as demand for financial services
fell.
The quarterly survey of 84 firms revealed
flat or falling business volumes for banks,
building societies and specialist lenders,
although sentiment held up for insurers
which managed to grow their volumes.
Demand for the financial services sector
as a whole dropped for the first time in five
years, with investment managers reporting
the steepest fall in activity since the
financial crisis.
Profits in the financial services sector as
a whole remained flat for a third successive
quarter, with investment managers and
general insurers reporting declining
profitability.
Looking to this year, declines are
expected to continue at a similar pace over
the quarter to March, which is the first
time that growth expectations have turned
negative since 2009. Overall profitability
is also expected to fall for the first time
in over three years, as a result of a more
widespread deterioration in expectations
across the industry.
The CBI says this will bring a number of
challenges for firms. The top three issues
concerning them are macroeconomic
uncertainty, regulatory compliance, and
preparing for the impact of Brexit.
Meanwhile, new entrants also pose a
competitive threat to firms in many sectors.
For example, over half of firms in general
insurance and investment management see
new challengers as a source of competition
over the year ahead. In all sectors, the vast
majority of firms see competition coming
from their own sector. In the banking
sector, where collaboration with challenger
firms is said to be more established,
firms said they see the least potential for
competition from either new entrants or
from firms outside their sector.
“A combination of macroeconomic and
Brexit uncertainty, regulatory compliance
and global market volatility are taking a toll
on the UK’s financial services sector,” says
Rain Newton-Smith, CBI chief economist.
cbi.org.uk
Rain Newton-Smith
The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 7

NEWS
IN BRIEF
Pack your bags
NEW analysis suggests that assets
worth almost £800 billion are being
moved from Britain to new financial
hubs in the EU ahead of Brexit, although
it is noted that this represents a fraction
of Britain’s £8 trillion banking and £2
trillion insurance sectors.
Barclays launches nationwide
campaign for young farmers
BARCLAYS has launched FarmtheFuture, a
nationwide campaign encouraging farmers
to plan for their future and tell young people
about the benefits of a career in agriculture,
as new data reveals that Britain’s farming
population is ageing rapidly.
The bank has teamed up with TV
presenter and former JLS boyband star JB
Gill, who has swapped pop stardom for a
rural life of turkey and pig farming, to show
the younger generation that farming could
be their perfect career.
The number of British farmers aged over
65 has increased by 70 percent in the last
decade, while the proportion of under-25s
running farms has dropped by two thirds
(63 percent) over the same period. The
average age of the British farmer is now
55.5 years old, with almost four in ten (38
percent) aged 65 or over.
Just three percent of 18-30 year-olds
surveyed by Barclays said they would
view farming and agriculture as a
desirable career, despite the job meeting
many of the criteria young people look
for in employment. Over three quarters
of millennials (76 percent) said staying
physically fit and healthy while working
was important to them and nearly half (48
percent) said they would like to work with
animals.
A lack of understanding and a perceived
lack of resources appear to be the key
things putting young people off a career
in farming. Over half (59 percent) believed
they wouldn’t be able to afford to become
a farmer, while 43 percent thought they
needed to inherit land.
While many farm businesses
traditionally pass down through families,
farmers with no direct succession are now
exploring alternative options, including
share farming agreements. These allow
new entrants to farm in partnership with
the farm owner with much less capital
required than starting out alone, and their
share of the business can grow over time
through profit share.
barclays.co.uk/business-banking/sectors/
agri-business
Good call
THE Institute received an overwhelming
number of responses to the BEIS
‘Creating a responsible payment culture’
Call for Evidence. Thank you to everyone
who contributed. You can read the
Institute’s response to this, and other
consultations at cicm.com/governmentconsulations.
Test your metal
WYELANDS Bank has completed a sevenfigure
asset-based lending deal for AD
Bird Stainless. The deal will help the
supplier of precision, specialist, stainless
steel to grow by freeing up working
capital, enabling it to take on new orders
and invest for the future.
wyelandsbank.co.uk
Regional
represntation
IN addition to the Regional
Representatives already sitting on the
Advisory Council, Ute Ogholoh MCICM
has been appointed to represent the
East Midlands region. Details of CICM
Governance can be seen at cicm.com/
about-cicm/governance/.
Call for traffic light warning system
THE UK Small Business Commissioner, Paul Uppal
has recommended a traffic light warning system,
which will allow small businesses to easily identify
large businesses that pay late.
New public data analysed for the first time by
Lloyds Bank Commercial Banking in partnership
with the Small Business Commissioner, looked at
official payment reporting returns based on the
annual reports of large businesses. Duty to Report
(D2R) Legislation imposed in April 2017 required all
large businesses to publish their payment practices
within a given deadline.
The research is being cited in a proposal from
the Small Business Commissioner to publish
‘traffic light’ warnings to help small businesses
undertaking contracts with large businesses. The
large businesses that are taking longer than 30
days to pay are in effect using their supply chain to
finance their business. The Commissioner strongly
believes that a simple warning system will alert
small businesses to the potential risk of longer
payment terms.
Paul Uppal says his ambition is to help small
businesses make more informed choices when
deciding which larger businesses they are going to
trade with: “A traffic light system would be a simple
and effective visual way of highlighting which
larger businesses are paying promptly and are
working in partnership with their supply chain.
“Our initial findings indicate that almost two
thirds of payments are likely to be owed to smaller
businesses at any time. This is money that could
be used to grow smaller businesses and generate
tangible economic activity. Instead it is stuck on the
ledgers of large businesses doing nothing.”
smallbusinesscommissioner.gov.uk
The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 8

CSA appoints new Head of Policy
THE Credit Services Association (CSA), the
voice of the UK debt collection and debt
purchase industries, has appointed Henry
Aitchison, a former senior executive with
the FCA and OFT, to the newly-created role
of Head of Policy.
Henry, who has a career spanning
almost 20 years in consumer credit, will
have a broad role supporting the CSA
executive team in identifying key policy
issues and developing a clear strategy to
support the Association's principal aims
and objectives. He will also be responsible
for developing and maintaining an
active Public Affairs (PA) programme,
ensuring that the Association's views
and membership goals are represented in
the formulation and adoption of current
and future UK and European policy and
legislation.
Henry joins the CSA from the Finance
The CSA is looking to
further enhance its
influence in a number
of key areas, and Henry
will help us in shaping
the future agenda, rather
than the agenda shaping
us.
& Leasing Association (FLA) where he was
Senior Policy Advisor. This followed more
than 15 years with the OFT and FCA in
similar advisory roles, and with a particular
focus on consumer credit and protection.
John Ricketts, President of the CSA,
says the appointment of a dedicated
Head of Policy resource will add further
weight and bandwidth to the Association’s
commitment to members: “Our ambition is
to be even more proactive in determining
future issues and regulation that
impact our members, and Henry’s
knowledge and experience will play a key
part in putting the CSA on the front foot,”
he says.
“The CSA is looking to further enhance
its influence in a number of key areas, and
Henry will help us in shaping the future
agenda, rather than the agenda shaping us.”
csa-uk.com
Henry Aitchison
CSA Head of Policy
>NEWS
IN BRIEF
R3 reports rise in
zombie companies
OVER one in ten (11 percent) UK
companies is just paying the interest on
its debts, rather than repaying the debt
itself, according to R3.
Based on a survey of 1,200 companies,
the research also found that one in six
(16 percent) businesses are having to
negotiate payment terms with creditors;
one in ten (12 percent) are struggling
to pay their debts when they fall due;
and eight percent would be unable to
repay their debts if interest rates were to
increase by a small amount.
Stuart Frith, President of R3, says rising
interest rates will have also contributed
to businesses stumbling into ‘zombie
business’ status: “The future for these
‘zombie businesses’ is mixed. Some might
eventually be able to restructure or find
new investment and grow. Others will
run out of road and become insolvent.
While this would mean capital could
be ‘recycled’, it may also be a bit of an
economic shock in itself.”
The UK’s insolvency and restructuring
framework is highly rated by the OECD
for its zombie-busting powers, and the
Government recently announced plans
to improve the UK’s business rescue and
restructuring options.
r3.org.uk
Arthur Critchley: An appreciation
ARTHUR Critchley FCICM and Meritorious
Service Award recipient was a true
gentleman who even at 90 always made
time for everyone he met. To me he was a
much-loved friend for over 30 years who,
along with his wife Pat, supported me for
the 12 years I served on the Merseyside and
North Wales Branch Committee including
six of those in the capacity of Chairman.
I met Arthur and Pat in 1987 at my first
Merseyside & North Wales ICM Branch
meeting. They always came as a pair and it
was very unusual for Arthur to arrive at a
meeting on his own. As a founding member
of the Branch Arthur knew everyone in the
room and was full of enthusiasm for all
things debt related and those of us working
in the profession.
Arthur would sit and chat to everyone,
sharing his knowledge and more than a few
entertaining stories of what he had got up
to during his career carried out long before
mobile phones, email and Google had
become commonplace in pursuit of chasing
down a debtor.
Arthur did it the hard way, knocking
on doors, questioning neighbours, sitting
outside businesses early in the morning all
over the country waiting for them to open
up so he could politely point out the need
for a payment to be made especially as he
had spotted a nice car or van pulling into
the Director’s parking spaces.
He and Pat were our official ‘meeters
and greeters’, a role they carried out with
a warmth that really made people want to
return. When it was conference time they
would be at the Albert Dock before 07.00am
welcoming exhibitors, making sure they
had everything they needed, especially
their breakfast! They were the real stars of
the day who past delegates wanted to see
again.
Arthur and Pat did so much for the
Branch over many years, especially with
the Students. Not too long ago exams were
taken in a classroom environment with Pat
and Arthur officiating every session and
offering words of encouragement to anyone
suffering last minute nerves.
I nominated Arthur for a much-deserved
Meritorious Service Award 20 years ago and
he said that when the letter arrived, he sat
on the edge of the bed with the letter in his
hand and for once was lost for words.
He was married to Pat for 69 years,
and nothing was more important to him
than his family. His two other loves were
Jazz and his Labrador Gwladus (Gladys
in English), a stray that Arthur and Pat
‘looked after’ for 12 years! In Gwladus’ latter
years the two of them could be found going
along the promenade near their home with
Arthur in his motorised scooter complete
with go faster stripes and Gwladus trotting
alongside.
Lynne Mills FCICM
The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 9

NEWS
IN BRIEF
Prize Winners
Two candidates have won this year’s Sir
Roger Cork Prize for the highest aggregate
marks for CICM examinations within one
calendar year. Molly Kane started her
career in an office admin role where she
had her first experience of credit control.
Giampaolo Scarpaci started working
as a Credit Controller at Toolstream in
2017. A year later he moved to Servomex.
Both Molly and Giampaolo studied at the
London Metropolitan and were taught
by CICM Tutor, Kevin Artlett. The prize
includes a presentation at the CICM
British Credit Awards and a cash prize of
£500.
Corporate Partners
FORUMS International and Onguard
have recently become Corporate
Partners of the CICM, promoting their
services to the CICM’s members.
Forums International has been running
Credit and Industry Forums since 1991
covering a range of industry sectors and
international trading. Its forums are
described as being not just meetings
but communities which aim to prepare
our members for the challenges
ahead. Onguard is a specialist in credit
management software and a market
leader in innovative solutions for Order to
Cash. Its integrated platform ensures an
optimal connection of all processes in the
Order to Cash chain and allows sharing of
critical data.
CICM
Essentials
THIS month’s briefing includes details
of the Ministry of Justice Call for
Evidence, the Meritorious Service Award
nominations, a free webinar from High
Radius, and a discount for the Utility Week
Consumer Debt Conference.
TSB partners with
Police to combat fraud
TSB has announced a new £200,000
partnership with the Metropolitan
Police to step up the fight against
fraud and hunt down the criminals
that sit behind it.
Fraud is now one of the most common
crimes in the UK and the financial impact
to consumers is huge with over £2 million
lost every day. Figures revealed by the Met
last year showed that over 3,500 Londoners
are reporting fraud and cybercrimes each
month with many more attacks going
unreported or detected.
It is a serious crime often carried out by
organised crime groups involved in drug
rings, human trafficking and terrorism.
It is becoming increasingly challenging,
following several highly complex and
sophisticated attacks against banks last
year, including against TSB.
To help overcome this, TSB has
announced a new partnership with the
Metropolitan Police, initially focusing on
boroughs in the South East of London.
The partnership will be supported by
the London Digital Security Centre and
also involve the local authorities within
Lewisham, Bexley and the Royal Borough
of Greenwich.
The funding will help to increase the
ability of the police and local partners to
work together on fraud prevention and
enforcement; enhance the skills of officers
and staff – particularly within the Met’s
Special Constabulary – and finance new
and innovative ways of tackling fraud at a
local level, including ongoing support costs
for the Met’s Cybertools app, for front-line
police officers.
tsb.co.uk
Keeping it in the family
A recruiter in Reading has recently found
dream jobs for father and son in credit
management and financial services.
Tony Lambert, Business Director at Hays
in Reading, specialises in Treasury and
Credit Management recruitment across
the Thames Valley region and sits on the
committee for the CICM Thames Valley
branch.
Tony has worked with Vincent Dahill
throughout his career placing him into
credit manager positions for more than
12 years. When his son Sean finished his
degree, Vincent recommended Tony. Since
then Tony has since found him graduate job
opportunities in financial services and has
recently placed him in what Sean describes
as his ‘dream role’.
Tony says he has been at Hays for
New finance body for money
and pensions
THE Single Financial Guidance Body (SFGB)
has been launched to help people make the
most of their money and pensions. From
the beginning of January, the SFGB brings
the free services delivered by the Money
Advice Service, The Pensions Advisory
Service and Pension Wise under one new
organisation.
The SFGB is an Arms-Length-Body,
sponsored by the Department for Work
and Pensions, with a joint commitment
to ensuring that people have access and
almost 18 years and the best thing about
his job is finding someone their perfect role:
“On average I place 100 people a year into
contract, temporary and permanent roles
across the Home Counties, but one of my
favourite placement stories has to be that of
Vince and Sean.”
Vincent has worked in credit
management throughout his whole career,
predominantly for blue chip corporate
clients. “It was very important for me early
on in my career not only to establish myself
but to find the right partnership agency.
Since my first meeting with Hays and Tony
all those years ago we formed an excellent
working relationship that has been
beneficial to myself and Hays and more
importantly the companies that I had the
good fortune of servicing.”
guidance to the information they need to
make effective financial decisions over
their lifetime.
The SFGB, working hand-in-hand
with industry, will ensure that money
and pensions guidance is available to
those that need it, adapting to people’s
changing needs throughout their lives,
offering services and appointments over
the telephone, online and in person where
appropriate.
singlefinancialguidancebody.org.uk
The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 10

FROM THE CHAIR
Looking ahead
Pete Whitmore FCICM says credit managers should
never underestimate the value of strong customer
relationships.
Pete Whitmore FCICM
EIGHTY years young and
still going strong! It is quite
remarkable to think that our
wonderful Institute has been
around since 1939; a time
when the world was a very
different place and about to enter a period
of global uncertainty. The challenges that
have been faced during that time have
been wide and varied, and it does feel that
we are entering another period of global
uncertainty.
One thing that has remained constant
throughout all of that time is the
professionalism of our membership. We
are still there to find ways of making every
credit situation work and ensure that cash
is collected so that our businesses have the
lifeblood they need to continue. That will
never change, and our Institute can help
with that too, whether it be through some
of the exceptional training modules and
qualifications that are available or making
use of our excellent ‘Managing Cashflow
Guides’.
There really is something for pretty
much every scenario, and if you do
encounter something unique we have
access to a resource of expertise with our
Technical Committee who have hundreds
of years of experience between them. There
is so much value in being a member of our
Institute and we often forget about all the
services that are provided by the dedicated
HQ Team.
Something that we should also
remember is that our Institute is here to
help with consumer credit matters as well.
We often get caught up in the hustle and
bustle of the commercial credit world, but
the job that our consumer credit members
do is truly remarkable. I am often in awe at
the way in which they manage vulnerable
customers while treating them fairly; a
true skill.
Another skill that is too often
undervalued is that of collections. ‘To pay
or not to pay, that is the question...’ as that
famous 16th century credit controller,
William used to say. He did not have the
abundance of technology that exists today
to help him, but he used the power of his
words to develop a relationship with his
customers. It is often said that people buy
from people, but never underestimate the
value of a strong customer relationship in
getting paid either. Sometimes, that may
even mean continuing to supply when you
can’t be paid just yet or providing extended
flexibility.
The real skill here is knowing when
you can and cannot do this. I would
wholeheartedly recommend getting out
and meeting your customers face-to-face.
It can be a real help when you or they need
to do something differently to support each
other. It is also where you can really develop
your credit management and customer
relationship skills. Personally, I find it to be
one of the most rewarding aspects of being
a credit manager and thoroughly enjoy
meeting some wonderful people.
So, what will 2019 have in store for
everyone? While I have no crystal ball, I
am sure that some things will continue
as always. There will still be tricky credit
challenges to overcome; there will still be
customers who won’t pay you and there will
still be business failures, some of which
will be repeat offenders; you’ve got to love a
phoenix company! Above all, our Institute
will be there to support us. I do hope many
of you will be able to join in the Institute’s
80th birthday celebrations during the
course of the coming year including the
CICM British Credit Awards on 7 February
and Credit Week (18-22 March).
Happy New Year to you and all your
families; here’s to a smashing 2019 for
everyone!
The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 11

INSOLVENCY
Trust, transparency,
consistency and confidence
Strengthening the insolvency regulatory framework.
AUTHOR – Michelle Thorp
Michelle Thorp
THE UK’s insolvency regime
is one of the best in the
world according to the
World Bank, returning
money to creditors quickly
and cost effectively. It’s a
regime the UK can be proud of. However,
the evolution of insolvency procedures
means that the regulatory framework must
always be reviewed and strengthened to
keep up with the needs of that changing
environment. A transparent, consistent,
and trusted regulatory framework is
important so that creditors can be
confident in the outcomes of insolvency
procedures. Without confidence in our
insolvency framework, the UK’s business
environment would be a much harder
place to work in.
During my first few months as IPA
CEO, one area that dominated a number
of my early conversations with creditors,
debt charities, the Government, and of
course, the insolvency profession, is that
of how best to regulate those who have
adopted a business model undertaking
high numbers of Individual Voluntary
Arrangements (IVAs).
IVAs (available in England and Wales),
are one of three statutory personal
insolvency procedures available to
indebted individuals, and make up the
majority of personal insolvencies. They
are an agreement between the indebted
individual and its creditors to repay
all (or part) of what they owe, typically
over five years. They are the personal
insolvency equivalent of Company
Voluntary Arrangements (CVAs), which
have featured in the press recently
following the financial challenges that
retailers on the high street are facing. And
like CVAs, IVAs must be supervised by a
licensed insolvency practitioner.
The number of people using an IVA
to deal with their debts has increased
significantly over the last ten years as
rising consumer levels have increased,
with numbers in 2017 exceeding more
than 57,000.
As a response to the rising demand,
and the use of new technology, some
insolvency practitioners have streamlined
the IVA procedure, making it a more
accessible and cost-effective insolvency
procedure than it had previously been.
These firms (volume IVA providers) are
each responsible for at least two percent
of the IVA market (currently just over
5,000 IVAs).
Volume IVA providers have a vital role
to play in ensuring that people can deal
with their debts in the best possible way.
However, their rapid evolution through
the use of technology, has led to questions
from creditors and those who use them
about how they work, and how they are
regulated.
RIGOUROUS REGULATION
Following discussions with creditors,
debt charities, government, insolvency
practitioners, and, importantly, the
providers of volume IVAs themselves,
at the end of 2018 the IPA was able to
announce new measures to strengthen
the regulatory regime. When everyone
involved in an issue recognises that it is
time to change, it is often easy to bring
people together to agree a way forward.
The measures, implemented from
January, will be a far stronger regulatory
regime for those operating in this space.
Our monitoring regime will change,
introducing a concept of continuous
reporting, that will give more detailed
insight into operating practices, and
sharper and targeted reports. We will
be able to get to the nub of issues, and
address them quickly – including in some
cases issuing sanctions.
The features of the new regime will
include: up to four regulatory visits a year
(up from one); bespoke investigations
into particular targeted areas of
concern, looking at far more cases than
we currently inspect; and continuous
monitoring, through monthly reporting
and access to volume provider technology
systems to enable better scrutiny of their
business practices.
These changes will help to ensure that
creditors, and indebted individuals, can
have greater confidence that the services
offered by the volume IVA providers are
regulated well. The changes will be kept
under close review during implementation
and beyond, to ensure that they achieve
our collective aim of stronger regulation.
I am hopeful that this new, intensive,
but pragmatic regime will provide the
assurances the wider community has
been seeking in the regulation of volume
IVA providers’ services.
The IPA’s work to review and
implement new regulatory processes
doesn’t stop with volume IVA providers.
We are also reviewing and implementing
changes that will ensure that regulation
is strengthened and consistent across all
insolvency procedures. As part of that
work, we are keen to hear the views of the
creditor community, so please do pick up
the phone and let me know about your
experiences of insolvency regulation.
Whether it’s rescuing businesses and
jobs, ensuring the smooth wind down of
a company, or helping individuals with
debts that have become unsustainable,
the insolvency profession is a vital part of a
successful UK economy. The IPA’s work to
review, evolve and strengthen regulation
will make sure that the profession can
continue its work, and importantly,
ensure that creditors can have confidence
in the UK’s insolvency regime.
Michelle Thorp is CEO, Insolvency
Practitioners Association.
The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 12

OPINION
TOMORROW IS
ANOTHER DAY
It has been a busy 12 months in the world of consumer
collections, and the pace isn’t showing any sign of
slacking in 2019. Sean Feast FCICM asks the experts what
the future holds.
The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 13
continues on page 14 >

OPINION
AUTHOR – SEAN FEAST FCICM
Peter Wallwork MCICM
Steve Murray MCICM
John Pears
Peter Wallwork MCICM, CEO of Credit
Services Association
Perhaps the biggest issue facing the consumer
collections industry in 2019 is that there are so
many issues to contend with. Some are well
known, such as GDPR; others have also been
waiting in the wings for some time – such
as the Senior Managers and Certification
Regime (SMCR) – where the countdown to
full implementation for regulated firms has
already begun.
Great uncertainty still exists over Brexit,
and how this will impact our industry, and so
too the progress of the new Non-performing
Loans (NPL) Directive and whether the
European authorities will heed the concerns
we have expressed.
Closer to home, however, we have a range
of issues to tackle. I sense that the concept
of ‘fairness’ will be a major focus in 2019, as
evidenced by ongoing debates over Breathing
Space and statutory payment plans.
‘Fairness’ will not only be about fairness to
the consumer, but also ensuring fairness
in how the debt advice sector is funded,
and in improving the quality of debt advice
available.
To that end, data will assume even greater
importance in the year ahead. The recent
news regarding the Fairshare contribution of
our members (almost £25 million) to funding
debt advice is a good example of where
strong, tangible data can inform a rational
conversation. Dialogue and consultation
become less about sweeping generalisations
and more about intelligent, informed
debates.
Another issue is education and within that
professional development. We must ensure
we continue to invest in the right level of
training and apprenticeship provision to
further improve the level of professionalism
within our industry, and with that, how our
industry is perceived. This is about creating a
virtuous circle, enhancing the profile of our
industry through the quality of the people
working within it.
Steve Murray MCICM, CEO of Ardent
Credit Services
On a macro-economic level there are a series
of events all conspiring to reduce customers
disposable income, from Brexit itself and the
possible recession that will follow to interest
rate rises (widely tipped to rise mid 2019 as
long as there isn’t a Brexit aftershock). The
Bank of England last raised interest rates
in August and for only the second time in
a decade and both were modest increases.
A whole generation of homeowners, many
of whom are just about managing, have
never seen significant interest rate rises and
another increase will surely tip more people
into debt.
It shouldn’t be forgotten as well that PPI
pay-outs stop in August 2019 – a process that
has pumped £33 billion back into consumer’s
pockets since 2011. There is a fallacy that
DCAs do well in economic downturns and
the reality is that while debt levels increase,
the ‘quality’ of that debt reduces, and costs to
collect increase. The challenge facing DCAs
in 2019, therefore, is to continue to perform
compliantly for its clients against a backdrop
of increasing costs and customers with less
disposable income and that takes investment
in technology to build efficiencies and
smarter routes to customer contact solutions,
which is exactly what Ardent is doing.
John Pears, UK Managing Director of
Lowell
‘Customer Engagement’ – this is such a
multifaceted issue and the most fundamental
to our industry. Even a small shift in
engagement has a much bigger positive
impact on our businesses, and potentially the
wellbeing of customers.
The challenges we have should be clear
to all: as an industry our reputation remains
poor and our image is driven by the lowest
denominator shown in the media; the
accuracy of address data means we are not
always contacting the right people; tone of
contact can create barriers, and digitisation
capability does not yet meet customers’
service expectations, based on their
experience of banks and retailers.
Ultimately, the engagement challenge is
simply that people don’t choose to be our
customers and most often arrive with us in
a difficult position. Often they are worried,
embarrassed and need help. As such, getting
any contact about a defaulted account is the
last thing they want, but if the approach is
right, it could well be exactly what they need.
As an industry we have to push all of our
members to deliver a better level of service,
one that considers the individual and their
circumstances. We’ve got to actively promote
this to consumers, so they understand our
primary role is to work with them to find the
The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 14

OPINION
AUTHOR – SEAN FEAST FCICM
David Sheridan FCICM
Debbie Nolan FCICM
Nick Cherry MCICM
right solution. We need to show that it is okay
to talk about debt.
The #TalkDebt campaign is a great start
and can help with awareness, but we must
also address the broader engagement
landscape – making sure our tone, strategies
and technology all complement our desire
to have helpful conversations, regardless of
channel.
David Sheridan FCICM, Operations
Director of ARC Europe
As we enter a new year, thoughts naturally
drift towards what it could bring and perhaps
some new resolutions to help make the
most of it. We live in very interesting times,
the advances of technology and sweeping
changes in consumer behaviour as a
result and how we, consumers actually
acquire products and services continues
to evolve. Factor in concerns regarding
what Brexit means – brings a great deal of
uncertainty to both consumers and firms.
Most people like certainty as its predictive,
safe and known about, but the nature of
present times is the unexpected is constantly
emerging.
Within this environment, for DCAs to
thrive, there needs to be a vibrant consumer
credit economy and what we are starting to see
emerge, particularly with the developments
in open banking is a new range of players
with interesting credit products that will
offer consumers compelling choices. I
believe that this will increase credit usage in
line with new consumer spending patterns
and in turn, will lead to a rise in the needs
for experienced DCAs who can help firms
cashflow and customer relationships in a
positive and emphatic manner.
I believe that DCAs that have invested
heavily in their digital engagement to offer
consumers the ability to interact digitally
and resolve their account on their terms will
see increased opportunity in 2019. Living
with debt is becoming a way of life for many
consumers and they come to expect that the
service and overall experience that DCAs
offer needs to be as good as other service
providers. At ARC, we understand and accept
this expectation, and have been working
hard in 2018 to develop our digital solutions
to help us do exactly that.
I am excited about the uncertainty
that 2019 brings as I believe firms that
have invested in technology to strengthen
their already proven capabilities are in a
strong position to take advantage of the
opportunities that continued advances in the
consumer credit sector will bring.
Debbie Nolan FCICM, CEO of Arvato
I believe the biggest single issue facing
the industry is around vulnerability. An
increasing proportion of consumers in debt
are likely to be trying to deal with difficult
situations and are therefore at a heightened
risk of vulnerability. A report by the Money
and Mental Health Policy Institute in
December 2018 suggested that 100,000 people
attempt suicide each year partly because of
their problems with personal debt.
We draw on a wide range of sources of
information and guidance to ensure that
the best possible outcomes are achieved
for consumers in financial hardship and
potentially vulnerable situations. Strong
learning and development support is critical
to ensuring the appropriate identification,
management and review of vulnerable
customers is achieved.
This year will see even more emphasis
on training, ensuring our contact centre
agents are fully aware of their obligations
under relevant legislation and regulation,
and continue to signpost customers to
independent, non-charging debt advice
agencies, cooperating fully with those
agencies when required to do so. For our
teams it is about ‘doing the right thing’, being
flexible and sensitive to the needs of the
customer and thinking hard about what the
customer is telling them in order to ensure
that the solution offered is the best for that
customer
Much work has already been done to
ensure that vulnerability is identified clearly
and quickly, and appropriate forbearance,
breathing space and/or advice signposting
is given. More can be done, however, to
make it easier for vulnerable customers to
interact with creditors, in particular around
technology. We are developing additional
channels to allow customers to be able
to communicate via a media that best
suits them (two-way webchat, What’sApp,
interactive messaging etc) and this focus
on digital communications will be a major
feature of 2019 and beyond.
Nick Cherry MCICM, Managing
Director of Phillips & Cohen
In my personal view, the biggest challenge
facing the industry is actually one which
tends to largely slip below the radar until
there are significant incidents – namely
Cyber Security. This is not just specific to
the credit industry but is an issue that all
businesses that handle volumes of consumer
data are faced with.
In the last few months alone, I have
personally been a victim of the hacking of
the UK’s leading national airline and of a
major hotel chain loyalty programme – and
those are the just the two that I am aware of!
As we all embrace digital innovations
within our businesses for the efficiencies
and consumer friendly functionality which
they offer, so too are we more exposed
than ever in terms of acting responsibly to
safeguard consumer data when interacting
digitally with the world.
The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 15
continues on page 16 >

OPINION
AUTHOR – SEAN FEAST FCICM
Martin Roseweir
Paul Jarman
Eddie Nott
There is no perfect solution, and this can
only be addressed by significant continued
vigilance at all levels, through investment
in very robust data security measures and
employing knowledgeable people, together
with extensive insurance for that unthinkable
eventuality of having a major data breach.
Hopefully as an industry we can continue
to stay one step ahead of the hackers and the
phishers.
Martin Roseweir, Managing Director
of AIC UK
I believe that the single biggest issue that we
will experience in 2019 is how to reduce the
overall cost to serve and protect contribution
margins. With costs increasing year on year,
the challenge for agencies is to find ways to
sustain and improve performance without
pouring money into the traditional letter/
telephone ‘old factory thinking’ methods of
collecting.
This year will see increases in postage and
a further increase in the National Living Wage
and pension contributions. Passing on these
costs can meet with resistance from clients,
who are also trying to reduce their own costs.
This puts the onus on our business to find
more innovative, efficient and cost-effective
ways to deliver the expected results.
How do we address this? Enhancing
our digital capability by adding new ways
to interact with customers will be key.
Introducing and promoting web chat
capability, digital letters and the ability to
request call backs at specific times to be
more efficient with dialling strategies and
also enhancing the self-serve options for
customers.
The technology is there today to deliver
on this, and 2019 will be a collaborative year
with our clients to bring these enhancements
into the mainstream and develop strategies
that meet the performance expectations, with
always keeping the customer at the heart of
everything that we do. I believe customers
want the conversations to be easier, quicker
and less obtrusive and are open to interacting
through the many new digital and automated
solutions available. We need to deliver this in
2019.
Paul Jarman, Interim Head of UK
Operations of Hoist Finance
Outside of the expected economic challenges
that 2019 will undoubtedly bring, the way
in which we need to engage with customers
will be paramount for success. Customers
no longer expect to have to adapt their
own behaviours to our business ‘habits’ – it
now has to be the other way around, with
collections and other financial services
industries needing to work to ensure every
customer enjoys a preferred way in which to
engage. The speed with which these ‘channels’
are developing and changing creates a
number of challenges including: the cost of
adoption – implementing additional channels
can be costly. Different technologies may be
needed and delivery methods into centres
need to be integrated; the rate of return –
while many of these new contact channels
are thought of as an eventual efficiency gain,
to actually get to a point where they deliver
a saving to your business can take quite
some time and real focus. It doesn’t happen
overnight; ease of integration – training your
teams and ensuring your organisation is
designed to deal with your customers in these
different ways also takes careful planning
and a real cultural shift, and this is never easy
in any business.
This year is going to be a really interesting
year in all customer service industries as
we see more and more inventive ways to do
business – not least in collections, which is
already starting to join and in some ways
even lead the technological advance.
Eddie Nott, UK Managing Director of
Intrum
The disparate treatment of ‘non-regulated’
debts is a huge challenge for the collections
industry and one that needs to be tackled
further in 2019. We believe change is coming,
with pressure on central government and
local authorities to improve their methods
and treatment of customers.
At Intrum we don’t treat debts that
fall outside Financial Conduct Authority
regulation any differently from those that
do. The shift towards better treatment
of customers and a positive customer
experience has been taking place in the UK
collections industry for some time. This is the
next frontier in that change – utility, telecoms
and public sector debt collection should meet
the same high standards as those demanded
in financial services. Ultimately, it’s about
forging a good relationship and creating
sustainable payment plans, not taking money
at any cost.
We are also helping drive this change
through our joint venture business H&F
Ethical Collections, which is already
revolutionising the way councils collect,
including a pledge by Hammersmith &
Fulham to end the use of bailiffs for council
tax arrears. Beyond this, we see technology
as an ongoing challenge for the sector – for
example deploying automation and AI in
ways that benefit customers and enhance
their experience rather than damage it.
In 2018 we launched our chatbot and it
has handled close to 4,000 messages in the
last six months. We’re now offering our
clients the chance to have their own versions
and in the coming year will be upgrading it
to provide bespoke customer information
to individuals. 2019 will bring technological
innovation to our business in this and other
areas.
The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 16

GAZPROM Energy’s TLC
programme is one of the
best that we have ever seen’.
These were the words used
by Chris Sanders FCICM,
Head of Accreditation for
CICMQ, in his assessment of the energy
business in seeking accreditation for the
first time.
‘Not only is it simple, it is clearly linked
to all aspects of the company including
rewards and recognition, company values,
conferences, appraisals and performance
management’, the report goes on to say.
‘The company’s credit policy and the
governance that sits around it is also
excellent and has detailed document
control. The process of credit assessment
with the Robotic Process Automation (RPA)
activity for lower value SME customers is
very much at the forefront of modern credit
management thinking. Gazprom Energy
provided us with a comprehensive agenda
and full evidence file, demonstrating a very
high degree of professionalism.’
Sharon Noland, Credit Risk Manager
at Gazprom Energy, says that education
and future training is crucial to the
organisation: “For us the key is now
accessing the industry network and CICM
ROCHE Diabetes Care has achieved CICMQ
Accreditation after demonstrating ‘Best
Practice’ in Credit Management, with
Training and Development and Stakeholder
Management standing out as highperformance
areas during assessment.
“We strive for excellence and continuous
improvement,” says Christelle Madie,
FCICM (Grad), MSc Credit Solutions
Manager at Roche Diabetes Care.
“Achieving CICMQ Accreditation serves
several purposes for us, both personally
and professionally, including raising
the profile of the Credit Department and
providing a renewed sense of excellence
across the company.
“Our aim is to keep the bar high and
continually improve; the opportunity
to access a wider bank of knowledge
through the Best Practice network is a
key advantage of CICMQ. There is also a
keen and growing interest within the team
to embark on CICM training courses and
attend professional forums.”
CICMQ
Powering through CICMQ
assessment
Gazprom Energy
learning events, constantly looking to
learn more from others in the industry and
further develop as a team.
“Think Like a Customer (TLC) is our
way of thinking. It can be described
as ‘putting yourself in the customer's
shoes’ and ‘treating the customer as you
would like to be treated.’ The three TLC
principles that we live by are: Simplicity,
Solutions and Partnerships and we work
Caring About Credit
Roche Diabetes Care
Roche Diabetes Care, part of the Roche
group, was created in 2014 for the import,
market and distribution of diabetes care
equipment, associated consumables and
value adding services to the UK and Irish
healthcare markets. Last year it reported a
turnover of circa £79 million.
Pam Thomas, CICMQ Assessor said
in her report: ‘Inductions for new staff
are comprehensive, including detailed
personal and professional development
programmes. All new starters receive a
The accreditation was presented by Glen Bullivant
tirelessly to ensure our people, processes,
communications and products embody
these values.”
Gazprom Energy has 350 employees
operating across three countries, supplying
over 30,000 industrial and commercial
customers across the UK. It has the backing
of parent company Gazprom, who are
responsible for 13 percent of global gas
production.
Brenda Linger presented the CICMQ accreditation to Roche Diabetes Care
Job Specific Induction Programme (JSIP),
an excellent example of introducing new
members to the company.
‘Since the CICMQ process began, it’s
clear that work with the various areas
of the business has become closer with
daily contact with the other department
managers. The overall management of
stakeholders is very good, with regular
meetings and reports providing excellent
business, financial and risk information on
customers.’
The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 17

TOWN AND COUNTRY
CHEMICAL
REACTION
Sean Feast FCICM talks to Tim Vine
about business information, the future of
credit management, and the relevance of
a degree in Chemistry.
THERE are worse places to meet
than the Ivy in Marlow, a stone’s
throw (assuming you have the
arm of Ben Stokes) from the
UK headquarters of Dun &
Bradstreet where I’ve arranged
to meet Tim Vine, part of the company’s senior
management team.
Tim is the Head of European Trade Credit
but, as I discover, wears many hats that include
promoting D&B Credit, the company’s online
credit product suite, on a global basis. It’s quite
a step from a man who graduated with a degree
in Chemistry from Birmingham University.
“There is a logic and methodology to credit
that is very similar to chemistry,” he laughs.
“Everything has to have a process that leads
to a result, which in the case of credit means
getting paid.”
FRAUD ANALYSIS
Tim fell into the world of business information
by accident. A university friend with a degree
in Maths had taken a job at D&B to conduct
financial statement analysis, and while Tim
had never heard of D&B, neither was his
heart in a career in Chemistry. Six weeks
later he was gainfully employed, on the
phones, researching and analysing potentially
fraudulent businesses: “What I learned very
quickly,” he says, “is that fraudsters tend to tell
you everything, whereas as genuine business
will ask you why you want to know!”
Working initially in the company’s
Birmingham office (in the days when D&B
operated a branch network reflecting the need
for ‘feet on the street’) he eventually moved to
the firm’s purpose-built headquarters in High
Wycombe: “It was the days of discs and tapes
whizzing around the offices like a scene out of
Monsters Inc,” he laughs.
In 2012 he moved to Toronto in Canada with
a particular remit to promote the company’s
Portfolio Manager product, a role that evolved
into spearheading the development of the
D&B Credit product suite throughout North
America. For two years he lived in Hoboken in
New Jersey, on the opposite side of the Hudson
River to Manhattan: “We had all the advantages
of the Manhattan Skyline but at a fraction of the
cost,” he jokes.
INVESTMENT DRIVERS
Moving back to the UK in 2016, he was given
responsibility for accelerating the promotion
for D&B Credit, not just for the US market but
also tailoring the product for a UK and European
audience. The drivers behind the investment in
D&B Credit was partly to increase and grow the
company’s trade credit customer base, but more
so to genuinely add value to the credit decisions
taken by credit professionals: “Rather than the
‘traditional’ spreadsheet approach to credit
reports, we were adding news-feeds and even
social media reports about a business to give
the customer a cleaner and more holistic view
of a company’s credit-worthiness to support
better, more informed decisions,” he explains.
Certainly, D&B Credit seems to have been
well received, not just in the UK but by a global
audience. It is now actively promoted and used
in more than 40 countries across Europe, North
America and Asia. “It is especially useful in
accommodating the needs of multinationals
with a shared service centre (SSC),” he explains.
NOTABLE SHIFT
Businesses use D&B Credit to manage the entire
customer base, a notable shift from the days
of simply pulling credit reports as and when
they are needed: “In a finance and credit role
today you are expected to have ownership and
visibility of the whole customer base, and not
just their individual DSO figure,” he says.
“But D&B Credit is not just for the larger
firms with a sophisticated credit management
function. It is intentionally all things to
all people. Business owners have many
responsibilities from Treasury to Sales and see
credit as a necessary evil. Whatever decision
The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 18

The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 19

CREDIT
PRODUCTS
DUN & Bradstreet offers modern risk
management solutions for companies of
all sizes through its D&B Credit product
suite. Anchored by the Dun & Bradstreet
D-U-N-S Number, it is designed to
equip credit and finance professionals
with data, analytics and insight to help
with everything from evaluating new
credit applicants to managing risk and
identifying opportunities for growth.
It provides a clear and customisable
view of accounts in real-time to support
decision-making and risk assessment.
D&B Credit includes: access to 300
million company records; powerful
segmentation tools, personalised
alerts and configurable credit reports;
analytics and scores to evaluate risk and
opportunity; the ability to review trade
payment data, legal events, corporate
family trees and social information.
We had all the
advantages of the
Manhattan Skyline
but at a fraction of
the cost.
The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 20

TOWN AND COUNTRY
AUTHOR – SEAN FEAST FCICM
they are given, needs to make sense. It
needs to be justified and trusted.”
Tim says that the D&B ‘play’ is to be the
best in class for every business segment,
from the SME to the multinational. To
that end he endeavours to bust the myth
that D&B is only for the Blue Chip: “We
are very clear about who we are and what
our role is,” he continues, “and recognise
that our opinions play a significant part in
enabling business. That is a responsibility
we take very seriously.
“SMEs are being encouraged to expand,
and we need to become more influential
in opening the door of opportunity for the
good businesses.”
He also believes the D&B role extends
beyond trade credit: “SMEs care about
cashflow and access to credit, so we
can play our part in opening the door
for lenders and insurers, but again this
comes with responsibility. It is clear,
though, that business information can
play a much larger role in future lending
and financing decisions.
“Late payments are also a perennial
headache for SMEs and despite efforts,
doesn’t seem to be going away. For the last
two years we’ve commissioned a survey
and the latest results found the average
amount in overdue invoices had gone up
by around a quarter.”
Key to any successful customer/credit
information provider relationship, he
adds, is delivering the content where the
business needs it most: “Companies invest
significantly in third-party systems and
want to ‘consume’ data in their world, not
ours. Regardless of the App or software a
company uses, our data is native and can
be presented either behind the scenes or
front of house.”
CHANGING LANDSCAPE
Credit Management in the future will
be very different than it has been in
the past. Previously a ‘back office’
function, decisions were often simple
and formulaic. But this is changing: “The
Credit Professional of the future will
be like a high-performance engineer,
fine-tuning and adjusting the business
‘machine’, managing risks down to
margins they are comfortable with, and
not getting so involved with the ‘heavy
lifting’,” he says.
“AI and machine learning will be more
embedded and make greater sense, but
there will always need to be someone
in charge capable of triaging issues as
they occur. The role will be more about
‘exception management’ than trying to do
everything.”
Tim believes that credit professionals
will also have an even greater ‘voice’: “Only
rarely now do we have conversations
about DSO and bad debts; today it is all
about ‘how can you help us grow’.
“Credit professionals are becoming
increasingly important ‘up stream’ as
well as ‘down’. They want to know to
whom they should prioritise payments,
and be a force for good in making sales,
pre-screening new business leads and
supporting more intelligent marketing.”
Tim sees D&B’s role as helping to
‘connect the dots’ to improve business
performance: “Making connections
through clean data is a major enabler,
especially for the banks and larger
corporations with disparate CRM and
ERP systems, and being as far upstream
as you can is a major advantage. Access
to data from all of these systems enables
you to have a holistic view of a customer,
with a historical record that allows you to
assess whether this is a business you want
to be working with,” he concludes.
SMEs care about
cashflow and access
to credit, so we can
play our part in
opening the door for
lenders and insurers,
but again this comes
with responsibility.
AI and machine learning
will be more embedded
and make greater sense,
but there will always need
to be someone in charge
capable of triaging issues
as they occur.
The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 21

VIEW FROM THE SEAFRONT
A classical dilemma
The Brexit debacle and what might be to come.
AUTHOR – David Andrews
The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 22

VIEW FROM THE SEAFRONT
AUTHOR – David Andrews
LIFE, as someone once
said, is a work in progress. An
unfinished symphony, perhaps,
to extend the metaphor. Time
slips past, and as we count down
the coming weeks towards the
end of the epic negotiations over our future
role with Europe, I daresay I am not alone in
wondering how much can be done in just a few
short weeks.
Franz Schubert, the great Austrian
composer, must surely have thought he had a
few more decades on God’s earth to crack out
reams more beautiful compositions.
Of course, Schubert left behind a vast
oeuvre, including more than 600 secular
vocal works (mainly Lieder), seven complete
symphonies, sacred music, operas, incidental
music and a large body of piano and chamber
music. Yet while composing the song cycles
Die schöne Müllerin (D. 795) and Winterreise
(D. 911), Schubert succumbed to a dreadful
disease and was gone. He was just 31.
Pound for pound – or Euro for Euro – in the
time it took young Franz to write and oversee
the production of yet another landmark opera
and a couple of major symphonies, hundreds
of the (reputedly) finest economic and strategic
minds in Europe have singularly failed to agree
on key tenets which will decide our collective
futures going forward in this life.
BRAINLESS BREXIT
Naturally, it was always going to be a case
that hundreds of highly privileged British and
European agents of the State were never going
to be as efficient as one genius with true vision,
forging ahead to leave a legacy of great beauty
and monumental complexity within the space
of a few short years.
While a bona fide vision, a sense of urgency,
of time running short, is invariably the cross
artistic prodigies such as Schubert were
acutely aware had to be borne, politicians – for
the most part self-serving, egotistical in the
extreme, and more concerned with their own
outcomes rather than the legacy they will leave
behind – appear to have been unaware that the
clock has been ticking very loudly.
And so here we are. There can be few among
us who anticipated such a bun fight, the like of
which has not been seen within the peacetime
European landscape for 50 or so years.
The irony of the matter is that, before the
spectre of leaving Europe became a reality,
the UK was genuinely on a roll. Having spent
the best part of eight years hauling ourselves,
Sisyphus-like, back up the steepest incline
since the Great Depression, we have managed
to shoot ourselves spectacularly in both feet.
CRYSTAL BALL GAZING
Like Schubert and many another who departed
this Earth before their time, I have no facility
to see what the future holds. Many worse case
scenarios have been posited, not the least by
high ranking bankers such as Mark Carney
and other highly qualified individuals whose
sobering visions of an imperfect future for us
all would be foolish to dismiss.
But just as F Scott Fitzgerald embarked upon
‘Tender is the Night’, knowing that his health
was failing – but presumably not knowing that
he was not destined to survive long enough
to finish the great work – we will all move
forwards into an unknown future. A future
where certainties and proven economic and
social formulas of yesteryear have necessarily
been rendered obsolete.
The reality is that there is no economic
formula yet written which takes account of
an unknown. Physics and mathematics have
a certainty of outcome. The unknown does
not. We cannot forecast on a model which has
never before existed.
And while politicians and indignant
economists will insist on making strategic
comparisons to Norwegian agreements and
Canadian models and the like, this is ultimately
a strategy which lacks verisimilitude.
Here, for what it is worth, are some of my predictions for 2019:
Far fewer estate agents – euphemistically known as ‘consolidation’ in the
sector; ie, many will go to the wall a la 1989.
More crippling blows to our High Street retailers. Anticipate many more
department stores closing – and attendant job losses.
Online shopping will – assuming anyone has any money left – continue to
threaten the old status quo.
A severe slow down in the property market – consumers do not like
uncertainty. Prices of a greatly over-inflated market will necessarily come
down.
First time buyer activity will increase as a result – and expect more
government incentives in this area.
Further squeeze on the motor sales industry. There will be a raft of ultracheap
credit deals to stimulate the market – but inevitably big-ticket expenses
will suffer.
The diesel Porsche Panamera will become all but extinct. Look away now if
you have just unloaded £80,000.
An upswing in overseas travel bookings – many people will want to jump
ship. If only to regain sanity.
Upturn in the fortunes for the (lower end) of the credit industry as universal
credit restrictions bite.
Continuing low interest rates. The Bank of England will not risk constraining
spending.
A return to a more artisanal retail model – business rates will continue to fall
to stimulate High Street – this may well pave the way for the kind of shops
that people want.
A slow down in manufacturing output – leading to lay offs in key sectors.
Uncertainty does little to enhance the fortunes of order books.
Along with the above – which is not intended to be a litany of bleakness by
the way – we may well see a change of government this coming year. But as
Socrates said, all I know is that I know nothing.
David Andrews is a freelance business journalist.
The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 23

COUNTRY FOCUS
Northern Ireland is one
of the fastest growing
regions in the UK.
AUTHOR – Adam Bernstein
The Titanic
visitor attraction
and a monument in
Belfast, Northern
Ireland.
The island of Ireland: Part three
NORTHERN LIGHTS
The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 24

COUNTRY FOCUS
AUTHOR – Adam Bernstein
THEY say that a week is a long
time in politics so imagine the
change visible in Northern
Ireland after 20 years. That’s
how much time has passed
since the Good Friday
agreement was put in place to bring peace to
a troubled part of the UK.
According to Invest Northern Ireland, the
region’s development agency, the province is
‘one of the fastest growing regions of the UK
and offers SMEs excellent opportunities for
growth and prosperity.’
Northern Ireland is the smallest of the
four parts of the UK with just 2.9 percent
(1.8 million) of the population spread over
5.7 percent of the UK landmass. Population
density is low compared to the rest of the UK
at 133 per sq. km. In comparison, the Irish
Republic has a density half that of Northern
Ireland’s. Interestingly, the province’s
population in 2001 was recorded as being
just above that in 1841. With politics based
on religion, it’s likely – reckons the BBC – that
Catholics in the province could outnumber
Protestants (and other faiths) by 2021.
Belfast is the capital and Northern
Ireland’s largest district with 340,000 people.
Next comes Armagh with 212,000 while
Newry has 179,000. The other eight districts
in the province have between 116,000 and
160,000 apiece.
EMERGING ECONOMY
Economically speaking, despite being on
the same island, the Irish and Northern
Irish economies are poles apart. In April
2018 the Belfast Telegraph suggested that
Ireland’s economy would expand by 4.9
percent in 2018 compared to just 1.4 percent
in Northern Ireland. The paper also noted
the disparity between Ireland and Northern
Ireland when it wrote in June 2017 that
‘exports from the Republic are €89 billion
(£77.85 billion) while from Northern Ireland,
exports are a paltry €6 billion (£5.25 billon).’
But it appears that this disparity cushioned
the Northern Ireland economy from the 2008
crash as it didn’t have as far to fall.
Infrastructure in Northern Ireland is
excellent being sited so close to the UK
mainland. The road network is good and
(at present) permits frictionless trade with
Ireland. International freight can be in
Europe by air within 24 hours and by road
and sea within 48 hours – all facilitated by
seaports in Belfast, Derry, Warrenpoint and
Larne. International air travel is just as good
– London is an hour away with a direct link
and European capitals aren’t far behind.
Of course, a key attraction of Northern
Ireland is that it shares a border with Ireland.
which when sterling plummeted following
the Brexit vote, saw much cross-border trade.
Key exports for the province
are, says Invest Northern Ireland, computer
and related activities; research and
development; market research; business and
management consultancy; architectural and
engineering; technical testing and analysis;
advertising; and creative entertainment.
The main business sectors include
software, contact centres and financial
services. But other areas of note are
aerospace, engineering, health technology,
services, manufacturing, construction,
agriculture, and tourism.
TAX AND HELP
The corporation tax rate is presently aligned
with the mainland at 19 percent, however,
once a government is reinstated in the
province legislation permits – and it is a
stated goal – a rate of 12.5 percent which will
put it on a par with Ireland. The standard
rate of VAT is 20 percent and personal
income tax uses the same bands and rates as
the mainland (apart from Scotland).
Invest Northern Ireland, notes that
those investing in the area may be offered
incentives such as revenue grants towards
start-up costs, interest relief, factory
rental costs, training costs, marketing
development costs and R&D (with R&D
capital spending being written off against
income); pre-employment training grants;
employment grants; finance investment
and concessionary loan rates; property tax
exemptions for manufacturing property; and
generous depreciation allowances.
There is much to make Northern Ireland
a destination for businesses, especially when
the incentives and relatively low cost of the
workforce are factored in. With luck Brexit
will not harm the province.
Adam Bernstein is a freelance
business writer.
Belfast City Hall
International freight
can be in Europe by air
within 24 hours and by
road and sea within 48
hours – all facilitated
by seaports in Belfast,
Derry, Warrenpoint and
Larne.
The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 25

TRADE TALK
PANIC
STATIONS
How businesses should prepare for every
eventuality after Brexit.
AUTHOR – Lesley Batchelor OBE FCICM
DON’T panic – although
setting up borders is
no easy task, this is the
gargantuan task the UK
Government could face on
day one of their post-Brexit
world, whenever that may be. If we do take
back control of our borders post-Brexit, this
will require new border checks and controls
for goods being moved between the UK and
the EU to be applied either overnight, or
after a transition period.
Much has been written and said about
the potential for disruption should UK
authorities not be properly prepared to
take on these functions for UK-EU trade in a
sudden ‘no-deal’ situation. The Government
is taking steps to prepare itself for the surge
in checks to be applied – including the
training of new customs officers.
More important, however, will be
the preparing of the whole chain of
organisations involved in the moving and
checking of goods from the UK to the EU
– from port operators, clearance agents
and freight forwarders to the exporting
businesses themselves.
PERIOD OF ADJUSTMENT
According to the Institute for Government
there are 180,000 businesses currently
moving goods between the EU and the UK
that will be making customs declarations
for the first time, many of which are SMEs.
They also calculate that the introduction of
customs declarations for these businesses
could cost traders in the region of £4 billion
a year.
In December the Government sent
out advice to these businesses for what
it termed ‘the unlikely event that the UK
leaves the EU without a deal on 29 March
2019’. In this advice businesses were asked
to register for an Economic Operators
Registration and Identification Number
(EORI) with HMRC, plan for how they
were going to make customs declarations
(through an agent, by themselves or using
a software programme), and to ensure the
organisation moving their goods knows
what additional information they may need
to provide (for example, safety and security
declarations).
It is apparent, therefore, that businesses
and the customs support and logistics
organisations they rely on, need to be
prepared for changes at the border after
Brexit – whether that’s in March 2019, the
end of 2020 or beyond. At the Institute of
Export & International Trade we’ve been
adamant that it’s never too early to start
preparing for changes as significant as this.
CUSTOMS DECLARATIONS
We welcome some of the steps being taken
by government to facilitate this change. For
instance, we particularly support the grant
funding it is providing for businesses that
will be making customs declarations post
Brexit. This funding is provided for training
to learn how customs procedures work or
the improving of IT systems businesses use
for managing declarations.
In partnership with EEF, we deliver
professional training courses across the
country that this funding can be applied
to. We provide a series of courses that give
individuals and organisations a proper
understanding of how customs declarations
are made and general customs procedures,
including the following:
• Customs Procedures and
Documentations*
• Customs Classification and Tariff Codes*
• Understanding Rules of Origin, Free
Trade Agreements & Export Preference*
• Excise Duties & Procedures
• Introduction to Export Licensing Controls
• Post Brexit Compliance & Documentation
• Post Brexit Planning Workshop
• Introduction to Exporting
• Introduction to Importing
• Advanced Exporting
• Advanced Importing
*These courses qualify for HMRC grant
funding so greatly reducing the cost to you
and your business of achieving this award
from the Institute of Export & International
Trade
A SMOOTH TRANSITION
We have also created a ‘Customs
Professional Pathway’ through which six
of our courses can be taken in conjunction
towards the attainment of our ‘Customs
Practitioner Award’ (including the first
four of the fundable courses listed above).
We did this because we believe that a new
profession of ‘Customs Practitioners’ is key
to ensuring businesses can navigate the
new checks and controls being applied to
goods being moved between the UK and
the EU. This profession could well be the
lifeblood of a new customs partnership
between government and the private sector
– one that is able to adjust to the significant
changes ahead.
Whatever happens in regard to the UK’s
exit from the EU, as long as it happens,
some changes at our borders will be
inevitable at some point. Waiting for the
outcome of Brexit to crystallise is a waste
of time for businesses, because if there is a
cliff-edge exit in 2019, 2020 or beyond, the
impact will be sudden and unavoidable.
Businesses that have not prepared for this
impact will suffer greatly. Businesses need
to have the skills and the ability to adjust
processes for any outcome of Brexit – the
stakes are that high.
If you are interested in becoming one of
the Customs Practitioners we need, please
get in touch with the Institute of Export &
International Trade – our mission is to help
UK Businesses to build competence and
confidence to trade internationally.
Lesley Batchelor OBE FCICM is Director
General of The Institute of Export and
International Trade.
Lesley Batchelor OBE FCICM
The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 26

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The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 27
WE ARE RATED 9 OUT OF 10

INTERNATIONAL
TRADE
Monthly round-up of the latest stories
in global trade by Andrea Kirkby.
ALWAYS LOOK
AT THE MARGINS
AN interesting piece from Coface shows
that French exports are lagging. Leading
exporters in automotive and aeronautics
are focusing on the domestic market
despite the fact that they are highly
competitive globally. Why? Because
they've decided to use increased
competitiveness to increase their export
margins, rather than to gain market share.
That gives them a nice cushion as global
trade slows.
There are two messages here. One is
always look at your customers' margins as
well as their balance sheets when you're
taking credit decisions. The other: there
are more ways than one of thinking about
growing your exports.
TROUBLE IN AUTOS
LOOK at the charts of car sales around the world and it seems
someone's just stamped on the brakes. Annualized growth
entered negative territory earlier in 2018 and it's getting
progressively worse. Bond markets have voted with their feet –
auto is the worst performing high yield bond sector of 2018, GM
is closing five North American plants, and Nissan/Renault head
Carlos Ghosn is under arrest. Jaguar Land Rover and Ford are also shedding
jobs and reviewing strategies.
Most of the big government sponsored packages for replacing older cars
have now expired. Demographics and tighter pollution regulations form
major headwinds, and there’s a threat of turbulence from hybrid, electric,
and self-driving cars. If the auto sector goes into the red, there's a huge
supply chain that will go down with it. If you're selling into this sector, be
very, very careful. Things aren't going to get any easier.
Euler serves up the ugly
side of English
SERVITIZATION: I saw this word in a Euler
Hermes report and I was not impressed.
What a truly ugly word it is. I really hope the
Oxford English Dictionary doesn't make it
one of its words of the year.
But it does describe something quite
important – not just the massive growth of
the services sector in emerging markets,
but the way services are entering every
aspect of the economy. Even the most
hide-bound manufacturer probably now
uses e-commerce trading platforms or
has embedded software – cars with autodiagnostic
systems, for instance. Many
manufacturing and construction firms
now have as much revenue from add-on
services as they do from their products;
some have even reconfigured products as
services. Euler Hermes expects services
to be the big trade winner next year, with a
massive $365 billion of export gains. Time
to think about how you too can benefit
from servitization, whether or not you like
the word.
A POLITICAL AND
ECONOMIC DISASTER
SRI Lanka was getting its act together
nicely, with high GDP growth following
the end of civil war in 2009, but now
it's rapidly turning into a political and
economic disaster. The President has
ousted the Prime Minister and tried to
reinstall 'strongman' Mahinda Rajapaksa.
That risks fuelling ethnic tensions with
both Muslim and Tamil communities and
could destabilise the economy. The Sri
Lankan rupee is already one of the worst
performers among Asian currencies for
2018, and that could easily get worse if
the constitutional crisis worsens. S&P has
already cut the credit rating from B+ to B.
As an oil importer, Sri Lanka has found
coping with increased oil prices tough,
and with a widening current account
deficit and a looming foreign debt crisis,
the strengthening dollar put it under
the cosh for most of the year. There’s a
bit of wriggle room now as both oil and
the dollar have weakened, but if foreign
investors get nervy, that could tighten
the screws. Keep a very close eye on the
currency and on the political situation.
The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 28

China’s slowing – sell Argentina?
MOST people think China's deceleration
will hurt Asian markets. But according
to research from Bank of America Merrill
Lynch, it will hurt Latin America much
more. While emerging markets lose 0.7
percent in growth for every one percent
that China slows, Latin America contracts
by 1.2 percent. China is a big purchaser
of LatAm's commodities exports. Longer
term, China has also been a major investor
in the region; if that investment slows, it
will lower long term growth rates.
Of course, the region isn't a single
market. BBVA's economic research shows
Chile, Paraguay, Peru and Colombia
strongly outperforming the rest. While
Argentina is forecast to recover, it will
remain soft. Brave exporters, though,
should look at Brazil – while 2.5
percent growth is nothing to shout about,
it's a big leap from under one percent in
2017-8.
World Powers race towards
trade Armageddon
IN a world where global trade is already
softening, with growth in the value of
trade slowing from 7.2 to 6.3 percent,
you really don't want a trade war. At the
G20 summit in Argentina, pragmatism
seemed to have won the day. The US
and China slowed down their escalating
skirmish and hit the pause button.
Markets breathed a sigh of relief.
Then Canada arrested telecoms
equipment maker Huawei's CFO for
breaking US sanctions. The cat is
now back in the middle of a thousand
pigeons. It could be carnage.
Euler Hermes says a ‘trade feud’
would only trim half a percent off global
GDP. But trade war? That's another
kettle of fish. It would trigger a global
recession. Two percent off GDP for
starters. And, of course, there’s more
than just trade involved; this is a fight for
global political influence as well.
Rather than wrangle for global
economic supremacy over the long term,
Trump is bringing on Armageddon. It
might be a calculated gamble; march on
your enemy before they're ready for you.
He clearly thinks he'll win; we're not that
sure. So…mind how you go in 2019. It's
going to be a difficult year.
Thinking differently about Ukraine
EMERGING
CURRENCIES
A softer greenback made for happier
emerging markets at the end of 2018.
Ertswhile dogs like the Turkish lira and
Indian rupee rose six percent and five percent
against the dollar in November, the rand did
quite well and even the Argentinian peso was
up on the month.
But the oddest phenomenon in emerging
markets has been the move in EM bonds.
Corporate bonds now trade tighter than
government bonds – investors trust
companies to pay them, more than they
trust governments not to default. That's
partly a reaction to crises in Turkey and
Argentina, but even so, it suggests currencies
may be a bigger issue than customers'
creditworthiness in 2019.
TALL STORY
TALL Security Group won a Queen's Award
for Enterprise 2018 and has neatly summed
up the lessons it's learned.
First, know your product and how it will
be used in the country you're exporting to.
That could be different from the way it's
used here. For instance, in some countries,
putting the parties' symbols on ballot
papers is important for non-literate voters.
Secondly, keep your routes to market
open. Direct exporting, using distributors or
partners, or e-commerce are all possibilities
– don’t rule any of them out.
Get the paperwork right. Export
documentation, payment procedures,
legal requirements, who pays for logistics,
incoterms – you need an export nerd who's
on top of it all.
Finally – and the best advice of all in my
book: ‘Don't stop at one’. Once one country's
dealt with, start on the next.
It's certainly worked well for TALL, which
has exported to Uganda, Ethiopia, Kuwait,
and Greece among other markets. A quarter
of turnover now comes from international
markets – though TALL warns exports in
the security print trade can be 'feast and
famine', depending on election years.
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).
UKRAINE is entering a difficult period.
Tensions with Russia are growing,
particularly over the Kerch strait, Ukraine's
access to the Black Sea, but it might be time
for contrarian thinking.
First, Ukraine has high hopes of a
new International Monetary Fund (IMF)
programme that could put some stimulus
into the economy. There's been reasonable
political stability for the five years since
the Maidan Revolution, and while reforms
have stalled, and elections next year could
be tricky, an IMF deal could give President
Poroshenko’s government a fresh impetus.
The economy is recovering from the sharp
recession of 2015 and is now getting 3.5
percent growth in GDP. Admittedly, inflation
at ten percent remains uncomfortably
high, and Credendo has the country on
its highest level of medium to long term
political risk. Credendo has said an upgrade
could be on the cards – so it could be
time to target this market. There are big
opportunities in agriculture, education, and
infrastructure – and as you might expect,
given the conflict with Russia, in defence.
HIGH LOW TREND
GBP/EUR 1.1214 1.1023 Up
GBP/USD 1.2871 1.1296 Up
GBP/CHF 1.2648 1.2452 Down
GBP/AUD 1.8117 1.7528 Up
GBP/CAD 1.7505 1.6847 Up
GBP/JPY 142.336 136.633 Down
The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 29

HIGH COURT ENFORCEMENT OFFICERS ASSOCIATION
SALE OR RETURN
Why do Enforcement Agents sell the goods they
take into control?
AUTHOR – Andrew Wilson MCICM
THE answer to this question
is simple. If debtors know
their goods could be seized
and sold, they’re likely to
be more prompt in paying
their debt in full. The power
to take control of goods and, if need be, to
sell them, is a lever to encourage debtors
to pay what they owe. The majority of
successful paid in full cases are payments
to avoid goods being taken into control
and sold.
Instalments are only taken where
there are no goods to cover the amount
due. Goods should only be removed and
sold if, by doing so, at least 20 percent of
the proceeds goes to reduce the amount
due. Removal to solely cover costs
and enforcement fees could be seen as
disproportionate.
Enforcement Agents, under a High
Court Writ, must attend a debtor's
premises, even when an offer to pay by
instalments is made. This is to check
whether there are, in fact, goods to cover
the amount of debt. If this proves to be the
case, the enforcement continues and the
instalment offer is refused.
THE WORST OPTION
Sale of goods is the worst option for
a debtor. A forced sale produces, on
average, less than half of second-hand
value. Sale incurs the maximum scale
fees and auctioneers’ commission. Sale
of a car without keys halves its value. Yes,
Enforcement Agents can remove cars
without keys, but I wouldn’t suggest you
put yourself in a position to test that!
Scale fees are all set out clearly in
the Notice of Enforcement. This is why,
increasingly with B2B debt, payment
is made (30 percent or so) at the early
compliance stage where the cost is limited
to £90 plus a small amount of interest.
For a finance director, with the necessary
money to pay the debt, it would not make
financial sense to delay the payment.
SETTING AN EXAMPLE
For a lever to be effective, it must
actually be used from time to time ‘pour
encourager les autres’. (Those of you who
recall Voltaire and poor Admiral Byng will
remember!)
If the lever is not used regularly (but
only in a tiny proportion of cases, 2.5 to
five percent), debtors might think that the
threat is toothless and that instalments
are the order of the day.
This is where High Court and County
Court practice has become rather
different. Enforcement Agents, acting
under a High Court Writ and County Court
Bailiffs, acting under a Warrant, have
identical powers under the Taking Control
of Goods procedure. But the County Court
Bailiffs have a tendency not to use them.
In the days of Sheriffs (pre-2004), I
started with seven Sheriff's Officers which
reduced to four over my 30 years as an
Under Sheriff. I didn’t keep three of those
staff members because they tended to
take instalments rather than payment in
full and rarely chose to take goods into
control and sale. This was the easier
option for them but not the best way to
get the debt paid immediately. Once a
more active officer took over, she went
to sale regularly in the first six months,
establishing a more robust approach and
thus being more effective in recovering
debt.
So, what have we sold lately? A
half restored classic cabin cruiser,
woodworking machinery, a HGV, the
contents of an art gallery and a vaping
shop, equipment from a dental surgery
and many cars (including a Maserati
where the debtor will get some money
back from the surplus on the sale).
Sale is generally at the eleventh hour
of the enforcement process (it can still be
stopped up to the morning of the auction
but at a cost) and is sometimes the only
option. It is a blunt instrument which can,
nevertheless, be very effective.
Andrew Wilson MCICM is Chairman
of the High Court Enforcement Officers
Association (HCEOA).
The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 30

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The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 31

OPINION
PULLING
THE WOOL
Looks can be deceptive, and costly, especially
when it comes to the granting of credit.
AUTHOR – Derek Scott FCICM
I
wonder how many problems
in relation to payment or even
bad debts have been caused by
the granting of credit based on
a potential customer’s image?
I believe the number would be
pretty substantial. If only I had a pound for
every time I have witnessed an instance
of this nature! Many would have been
made by people without any real training
or experience in credit management, but
some certainly have been from so-called
‘credit professionals’.
The image conmen (mainly men but
some women!) use various methods to
gain credit facilities, firstly in the business
titles that they adopt, using words like
‘group’ or ‘international’ or something
close to the name of a large company.
They appear to use a prestigious address,
or claim to have multiple overseas offices
or branches. As individuals, they may
have apparently earned a good many
qualifications, with splendid initials after
their names, or belong to an illustrious
trade body.
SWEETS AND BEAUTY
These are just some examples of people
using false titles that I had the pleasure
of coming across. In relation to the word
‘group’ the best example must still be in
Scotland where the head office turned out
to be a sweet shop! The term ‘international’
was used on a regular basis often coupled
with lists of offices overseas. One was
a beauty salon in the north of England
which claimed to have branches in every
overseas major city including Paris and
Singapore.
It was all bogus, and just a front for
a scam operation which ended up with
the person involved being hunted by
the police. I am certain, however, that a
few years later they re-surfaced on the
TV looking for funds to finance a new
business. Somewhere I have a video of
these programmes and they often use a
company name close to that of a major
business. Regretfully I could not recover
the SME’s money.
GOLDFINGER TOUCH
The outstanding example of a person
running more companies than you can
shake a stick at was in a south coast
town where from a small office a man
known as ‘Goldfinger’ ran virtually every
type of business you can think of, from
construction to medieval banqueting.
We bought a company and I inherited
a group of very old debts. I noticed though
they were different types of businesses
that all had the same address. I had
some extremely interesting meetings
with the gentleman who drove a car
with a personalised number plate, and
numerous reasons why he had not paid,
even though he appeared very wealthy.
The last confrontation was in court, but
like all his creditors I did not get paid as
he vanished abroad as every company
went bust.
On a smaller scale, I have encountered
other ‘groups of businesses’ based in a
hairdressers, porta cabins, and even a
derelict colliery’s bath house! However,
believe it or not, I did recover what they
owed.
I often found directors had many letters
after their names, but if you checked these
were not earned, but just organisations
where if you can pay, you can join. Some
sound important, and that’s still the same
case. Then there are trade organisations
logos, but again anyone can join. I knew
someone who earned his living selling
membership to these types of bodies on a
commission basis only.
BURLINGTON BERTIE
Then of course we have the individual’s
personal image. They are usually the very
essence of style – well-spoken, astute
etc. We have the ‘name droppers’ who
remind me of the line from the old music
hall song ‘Burlington Bertie, Everyone
Knows Me’. Usually they have been
with some important person, Lords and
Sirs are a favourite, but it might even be
someone from the Government. Several
times I was told ‘of course I know the
chairman!’
I found many SMEs incurred bad debts
because they are impressed by these
types of people, and often because their
addresses were in ‘posh parts of town’. I
have door knocked at some of the most
palatial properties you can imagine with
at least two up-market cars in the drive.
No doubt all on credit and not paid for!
I have also met what I can only call
likeable rogues who reminded me of
Charlie out of Bergerac (for our younger
readers, that was a detective drama series
based on Jersey from the 1980s. Ed.),
but when dealing with them you needed
your wits about you.
IMAGE COUNTS
Many years ago, someone, though I
cannot remember who it was, conducted
an experiment in relation to whether
a person’s image could affect a credit
decision. They arranged for two men
to visit major department stores in
London; this is my interpretation of what
happened, and no real surprise.
The first man was dressed in a rain coat,
football scarf and cloth cap. He went to
the area where you could arrange a store
credit account.
‘Can I help you sir?’
‘Yes, I would like to open a credit account.’
‘I see, can we have some details please?
First your full name?’
‘Fred Smith.’
‘Your address?’
’24, Harold Wilson House, Bevan Estate,
London.’
‘Occupation sir?’
‘Waste Removal Operative.’
They completed a few more details
and then after a short deliberation the
store credit executive said: ‘I regret sir
that we are not in a position to open a
credit account for you, but we will give
you a discount card to use when making
cash purchases.’ The man subsequently
spent several hundred pounds in the
store.
The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 32

OPINION
AUTHOR – Derek Scott FCICM
It was all bogus, and just a front for a
scam operation which ended up with
the person involved being hunted by
the police. I am certain, however, that a
few years later they re-surfaced on the
TV looking for funds to finance a new
business.
A second man went into the credit account
department. He was dressed in a camel
coat, with a bowler hat, a Guards tie and
rolled umbrella.
‘I would like to open a credit account.’
‘Certainly sir. First your name please?’
‘Captain Charles Digby Fortescue-
Compton.’
‘Address?’
‘The Dower House, Briston Magna, Norfolk.
I also have a flat in Mayfair.’
‘Let us complete your application.’
In a few moments the credit executive said
‘no problem sir, you qualify for one of our
gold credit accounts, so you can purchase
any item up to £5,000 at very competitive
rates.’
The man soon used his card extensively
in the store. After three months they had
not received even one payment, so the
credit executive wrote a letter to the man
pointing out that despite sending invoices,
statements, and polite reminders no money
had been received, and they now required
prompt settlement.
They received the following reply. ‘I
acknowledge your communication and
would advise you I have what I consider
a fair payment system for all my many
creditors. At the end of each month I put
all their names in a hat and pay those that I
pull out. If you send me any more letters of
this nature your name will not even go into
the hat!’
Is this story fantasy? Regretfully the
answer is no. I wish I had a pound for every
bad debt due to a con artist’s perfect image.
This story is loosely based on a real
experiment which took place some years
ago. I believe the findings are correct as
many moons ago I was interviewed for the
position of credit manager in a very famous
London department store. I was asked
about my credit control strategy, procedures
etc. When I described my approach, I was
advised that my policy was not an acceptable
one in view of the high calibre of their
customer base. It was not the job for me!
Derek Scott FCICM is a freelance writer.
The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 33

80 YEARS OF THE CICM
Meeting of minds
June 1934 – Cuthbert Greig
met with William S Swingle,
a Manager at the Foreign
Credit Interchange Bureau
(FCIB) of the National
Association of Creditmen.
ICM begins
working closely
with Government
March 1980 – Sir Kenneth
Cork played a key role in the
insolvency law reforms. Working
closely with government the
profile of the ICM was raised
considerably and members of the
senior team regularly commented
in the national press.
1934
Agreements on text
and evening lectures
July 1939 – the first formal meeting
was held. Cuthbert Greig was elected
Chairman and the other council
members as Fellows. The publication
of credit management text books was
agreed as well as a series of evening
lectures.
1939
1947
September 1947 – the
Council agreed the new
name – The Institute of
Credit Management. The
official publication is
named ‘The Transactions
of the Institute of Credit
Management’. The first
student enrolled on
correspondence course.
1980
1938
1946
1964
1986
1987
The start of the
post-war revival
Arise Sir
Kenneth
What’s in a
name?
November 1938 – the
committee would be
known as the National
Institute of Creditmen.
Based in London with
regional branches,
membership fees were set
at £1 1s per year for full
members and 10s 6d for
associates.
July 1946 – following a
number of years of quiet, an
unofficial meeting was held
and revived the Institute.
It was also agreed that
papers would be generated
to ensure those ‘creditmen’
who had been away to war
would not be disadvantaged.
Membership
drive
November 1946 – the first
AGM. Greig steps down as
Chairman and becomes
President. A major drive for
new members begins under
new secretary.
March 1964 – Sir
Kenneth Cork elected
President. He also
served as Lord Mayor
of London between
1978-1979.
1986 – Son of Sir
Kenneth, Sir Roger
Cork was the driving
force behind the
establishment of
the Federation
of European
Credit Managers
Associations
(FECMA). He was
Lord Mayor of London
between 1996-1997.
The big
Mac retires
March 1987 - J.C. McNeil Greig
retires after 40 years’ service
including time as Chairman
and Vice President.
The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 34

2019 marks the 80th anniversary of the Chartered Institute of Credit
Management (CICM). Over the course of the year we will take a closer
look at the most important moments in its rich history and those figures
that have played a part in shaping it.
CHARTERED INSTITUTE OF CREDIT MANAGEMENT ●80
YEARS
1939 - 2019
A new man
at the top
January 2006 –
replacing Peter
Rowe MBE who had
been in post since
1992 establishing
and independent
secretariat for the
Institute, Philip King
FCICM appointed
Director General.
Publication of
the first of the
Managing
Cashflow Guides
January 2008 – the
Managing Cashflow Guides
were developed by the
ICM for the Department of
Business, Innovation and
Skills (BIS) as part of a
major initiative to improve
the payment culture among
UK PLCs.
Achieving
Chartered
Status
January 2015
– the most
significant
moment in the
history of the
organisation came
when the ICM
formally became
the Chartered
Institute of Credit
Management
(CICM).
Bringing credit
management to a
TV audience
November 2017 – CICM partners with
ITN Productions to produce a news and
current affairs style programme exploring
the impact credit management has
across the supply chain and the need to
support the growth of businesses and the
economy through healthier cashflow.
2006
2008
2015 2017
2009
2009 2015
2018
2018 2019
The
Prompt
Payment
Code
January 2009 –
the launch of the
Prompt Payment
Code. The ICM
administered the
code on behalf
of BIS. This
collaboration with
government raised
the profile of the
ICM further.
Director General
becomes Chief
Executive
June 2009 – Philip King
appointed Chief Executive as
part of a move to streamline
the management structure of
the organisation and make
it fit for purpose for the 21st
Century.
By Royal
appointment
March 2015 –
the Royal Charter
unveiling
ceremony with
many guests
attending from
the Institute’s past
and present.
Launch of the
Knowledge
Hub
July 2018 – the
launch of the
Knowledge Hub,
an initiative to
provide members
and subscribers with
access to more than
1,000 knowledge
resources covering
the entire credit
management life
cycle.
Safety in
numbers
July 2018 – The
Mentor Hub is
also launched.
CICM members
can achieve
significant
professional
and personal
benefits by being
matched with
a mentor or
mentee.
The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 35

PAYMENT TRENDS
Reasons to be cheerful?
The latest monthly business to business payment
performance statistics.
AUTHOR – Jason Braidwood FCICM(Grad)
WITH ongoing uncertainty it is
perhaps not a surprise that
payment term performance
has fluctuated from one
month to the next in recent
times. But after a concerning
last month with increases across the board, it is
encouraging to see some improvement, with the
average Days Beyond Terms (DBT) figures across
regions and sectors reducing to 14.1 and 14.3 days
respectively.
SECTOR SPOTLIGHT
This month’s sector spotlight shows more positives
than negatives, with improvements aplenty and
only seven sectors posting increases in payment
terms.
It has been a particularly strong month for
Manufacturing, which has reduced its DBT by an
impressive 8.0 days and moved off the bottom of
the standings. Similarly moving away from the
lower reaches of the table is the Professional and
Scientific sector, reducing DBT by 6.1 days.
At the other end of the scale, it has been a
disappointing month for the Energy Supply Sector
which is now bottom of the table, with an increase
of 4.0 up to 19.6 DBT. Surprisingly, it’s also been
a poor month for Hospitality, which has dropped
off top spot following a 5.1 increase to 12.1 days.
Public Administration now sits top off the pile on
7.7 DBT.
REGIONAL SPOTLIGHT
The regional standings are significantly more
encouraging, with improvements made across the
board bar Scotland, where DBT has increased only
very slightly (0.2 days) to 14.7 days.
Despite remaining at the wrong end of the
table, the biggest movers this month are Northern
Ireland, London and Wales which have made
good strides to improve performance, cutting DBT
by 6.8 days, 5.9 days and 5.0 days respectively.
A further improvement by East Anglia, reducing
DBT by another 2.4 days to 11.7 days means it now
tops the table as the best performing region.
Jason Braidwood FCICM(Grad),
Head of Credit and Collections at Creditsafe
Business Solutions.
It has been a particularly strong
month for Manufacturing,
which has reduced its DBT by an
impressive 8.0 days and moved
off the bottom of the standings.
The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 36

PAYMENT TRENDS
AUTHOR – Jason Braidwood FCICM(Grad)
Top Five Prompter Payers
Region Dec 18 Change from Nov 18
East Anglia 11.7 -2.4
West Midlands 12.0 -2.5
South East 12.3 -1.5
South West 13.0 -2.3
East Midlands 13.5 -2.4
Getting Better
-8.0 Manufacturing
-6.1 Professional and Scientific
-3.4 Construction
-3.1 Water & Waste
-2.4 IT and Comms
Top Five Prompter Payers
Sector Dec 18 Change from Nov 18
Public Administration 7.7 -0.1
Entertainment 9.7 2.5
Education 9.9 2.1
Health & Social 11.9 1.9
Hospitality 12.1 5.1
Bottom Five Poorest Payers
Region Dec 18 Change from Nov 18
Northern Ireland 17.3 -6.8
Wales 16.7 -5.0
London 16.4 -5.9
Scotland 14.7 0.2
North West 14.5 -3.4
Getting Worse
5.1 Hospitality
4.0 Energy Supply
3.3 Business from Home
2.5 Entertainment
2.1 Education
Bottom Five Poorest Payers
Sector Dec 18 Change from Nov18
Energy Supply 19.6 4.0
Wholesale and retail trade 17.2 1.6
Mining and Quarrying 17.2 -2.1
Water & Waste 17.2 -3.1
IT and Comms 16.3 -2.4
Surprisingly, it’s also been a
poor month for Hospitality,
which has dropped off top
spot following a 5.1 increase
to 12.1 days.
SCOTLAND
14.7 DBT
NORTHERN
IRELAND
17.3 DBT
Region
Getting Better – Getting Worse
NORTH
WEST
14.5 DBT
YORKSHIRE &
HUMBERSIDE
13.9 DBT
-2.4
-2.4
-5.9
-3.4
-6.8
0.2
-1.5
-2.3
-5.0
-2.5
-0.4
East Anglia
East Midlands
London
North West
Northern Ireland
Scotland
South East
South West
Wales
West Midlands
Yorkshire and Humberside
WALES
16.7 DBT
SOUTH
WEST
13.0 DBT
WEST
MIDLANDS
12.0 DBT
EAST
MIDLANDS
13.5 DBT
LONDON
16.4 DBT
EAST
ANGLIA
11.7 DBT
SOUTH
EAST
12.3 DBT
The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 37

THE RECOGNISED
STANDARD
CICM British Credit Awards 2019
7 February 2019
Royal Lancaster, London
The awards are taking place next week
Last chance to book your table!
The countdown is on... there are now just
a few more days to go until this fantastic
evening of networking and celebration of all
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!
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
HEADLINE SPONSOR:
SPONSORS:
The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 38

2019 Finalists:
Credit Information Provider of the Year
• CoCredo
• Company Watch
• Dun & Bradstreet
• PurplePatch
• StreetCred Ltd
Managing Risk Award
• Invictus Risk Solutions LLP
• PurplePatch
• Vodafone
Consumer Call Centre Team of the Year
• Amigo Loans
• DJS (UK) Limited
Commercial Credit Team of the Year
• Aggregate Industries UK Ltd
• European Metal Recycling Ltd
• Gazprom Energy
• Maglans Micro-Credit Services
• McDonalds Restaurants UK Limited - Global
Business Services (GBS)
• Royal Mail PLC
• TXM Group
• Veolia ES UK Limited
Commercial Collections Team of the Year
• Aggregate Industries UK Ltd
• Cardiff University
• Echo Managed Services - Northern Ireland &
NI Water
• HM Revenue & Customs, Large Business Unit
• Imperial College London
• JLL
• Royal Mail PLC
• TXM Group
• Veolia ES UK Limited
Third Party Debt Collection Team of the Year
• Clarke Willmott LLP
• Darcey Quigley & Co
• Echo Managed Services - Northern Ireland &
NI Water
• Hilton-Baird Collection Services
• Keebles
• The Zinc Group Ltd
• ZZPS Limited
Legal Team of the Year
• Ascent Performance Group Limited
• Blaser Mills Law
• Keebles
• Shakespeare Martineau
Project of the Year
• ABB
• Aggregate Industries UK Ltd
• CoCredo
• DJS (UK) Limited
• HM Revenue & Customs,
Green Channel Project
• Veolia ES UK Plc
Best use of Credit Technology
• Amigo Loans
• Atradius Collections
• DJS (UK) Limited
• High Court Enforcement Group Limited
• Insight Performance Improvement Ltd
• iwoca
• Onguard UK Ltd
• The Zinc Group Ltd
• United Utilities
Learning & Development Impact
• ABB
• Aggregate Industries UK Ltd
• Equinix
Employer of the Year
• Adecco UK & Ireland
• Aggregate Industries UK Ltd
• Amigo Loans
• CoCredo
• Costa Coffee Limited
• DJS (UK) Limited
• Kier Group
• Veolia ES UK Limited
Customer Service Hero Award
• Stephanie Ratcliffe - HM Revenue
and Customs
• Steve Walker - HM Revenue and Customs
Rising Star of the Year
• Annabel Blanco - Nuvias
• Cherie McNeil - HM Revenue and Customs
• Glenn Kincaide - Kier Group
• Jack Martin - Veolia ES UK Plc
• José Carlos Antequera Roa - Axión
Infraestructuras de Telecomunicaciones, SAU
• Kayleigh Linford - Clarke Willmott LLP
• Kieran Reid - Adecco UK & Ireland
• Lee Hancock - Veolia ES UK Plc
• Marc Foster - HM Revenue & Customs
• Rachael Costello - Aggregate Industries
• Rachelle Bull - Kier
• Roy Ortiz - Imperial College London
• Salma Shah - Paradigm Housing Group
Corporate Social Responsibility
• Aggregate Industries (UK) Ltd
• Amigo Loans
• Pulmonary Fibrosis Trust
• United Utilities
Diversity and Inclusion
• HM Revenue & Customs,
Debt Management Diversity Team
• HM Revenue & Customs,
Debt Resolution Team, Liverpool
• HM Revenue & Customs,
Debt Resolution Team, Shipley
Mentor of the Year
• Elizabeth Ives - HM Revenue and Customs
• Karen Finney - Salford City College
• Kaseem Younis - HM Revenue and Customs
Credit Professional of the Year
• Brendan Clarkson - CVR Global
• Giampaolo Scarpaci - Servomex Group
Limited
• Isaac Mireku - Harley Davidson Ltd
• Jackie Ray - Blaser Mills Law
• John Kelly - HM Revenue and Customs
• Lanslord Asumakah - Maglas Micro-Credit
Services
• Matthew Roberts - Npower Business
Solutions
• Michelle Atkinson - United Utilities
• Sarah Hicken - Aggregate Industries UK Ltd
• Steve Charter - TXM Recruit
The Sir Roger Cork Prize
No published shortlist
Winners of Winners
Winner announced on the night
PALADIN
The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 39

LEGAL MATTERS
More FOS anyone?
Proposed Extensions of Financial Ombudsman
Service (FOS) Jurisdiction.
DD +44 161 603 5199 E ritchie.irvine@dwf.law W www.dwf.law/recover
Ritchie Irvine
Partner, DWF LLP
THE Financial Conduct
Authority (FCA) has recently
published proposals to:
1. widen the remit of FOS to
allow SMEs access to FOS
2. increase the compensation limit that
FOS can award
3. widen the jurisdiction of FOS to include
Authorised Push Payment Fraud (APP).
CURRENT RULES
The current rules state that access to
FOS is only available to individuals and
micro-enterprises that have a turnover or
annual balance sheet that does not exceed
€2,000,000 and less than ten employees.
The procedure that a company must
comply with when dealing with complaints
is set out in 'Dispute Resolution:
Complaints' (DISP) in the FCA handbook.
Should a customer not be satisfied with
the response that they have received from
the company, they have six months to
complain to FOS.
Once reported, FOS will independently
review the claim and documentation
from both parties and provide a written
outcome based on the evidence. FOS can
make a number of recommendations,
such as compensation or directions
for the respondent to take. Currently,
FOS can award up to £150,000 worth
of compensation. FOS can only make
recommendations for compensation
awards over £150,000.
PROPOSED CHANGES
Access for SMEs
In October 2018, the FCA issued near final
rules on widening access for SMEs to
FOS, by including SMEs in the definition
of an 'eligible complainant' in DISP.
The proposed definition of SMEs are
businesses that have an annual turnover
of less than £6,500,000 and either employ
less than 50 employees or have an annual
balance sheet of less than £5,000,000.
There is, no change in the types of
complaints which can be referred to FOS
and there remains doubt as to the extent
to which unregulated activities can be
subject to FOS jurisdiction.
Increase Compensation Awards
The FCA has also proposed to increase
the maximum compensation that FOS
can award to £350,000 in relation to
complaints about acts or omissions that
occur after the proposed date, which is
currently 1 April 2019. The consultation
paper also provides for the existing limit
to be increased from £150,000 to £160,000
for complaints about acts/omissions
before the proposed date.
Push Payment Fraud
Another potential extension to FOS’
jurisdiction is to include APP complaints.
In the FCA consultation paper, the
proposed definition of APP is a transfer
of funds by a payer to a person where
the payer intended to transfer the funds
to a certain person but was instead
deceived into transferring the funds to a
different person; or the payer transferred
funds to another person for what they
believed were legitimate purposes
but which were in fact fraudulent.
CIFAS published responses to the FCA
consultation paper where it believed that
the definition of complainant should be
wider to include organisations or legal
entities.
NEXT STEPS
The near final rules in relation to the
access for SMEs will be finalised by the
end of the year and come into force on 1
April 2019. Any responses to the proposals
to increase the maximum compensation
award limit are due by the 21 December
2018.
PRACTICAL CONSIDERATIONS
Given the significant increase to FOS'
jurisdiction and the discretion it has to
deal with complaints, combined with the
low costs risk associated with bringing
a complaint to FOS, it is likely that there
will be an increase in FOS complaints.
For SMEs, it is understandable why
they would choose to go to FOS with
a complaint instead of embarking on
costly and lengthy litigation. As currently
set up, FOS does not appear to have the
capability or resources to deal with an
influx of complaints that may well be
more complex, both legally and factually.
To counteract this, the FCA has advised
that FOS will have a new unit dedicated to
complaints in relation to SMEs. Whether
the new team has the skills and expertise
required to adjudicate on such complaints
remains to be seen.
Should the proposals be implemented,
it is prudent that any company that the
proposed changes potentially affect
should ensure that there are adequate
procedures in place to deal with any new
complaints arising out of the proposals. It
is imperative that any complaint received
is dealt with in accordance with the
complaints procedure set out in DISP.
The proposed changes mean that not only
is it widening the scope of FOS, but also
widening the exposure of businesses to
FOS complaints.
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 / January / February 2019 / PAGE 40

Fellows of the future
Do you know someone
working in credit who has
shown the potential to
become a future leader?
Or are you looking for a boost
in your credit career?
We are launching a new scheme ‘Fellows of the
future’. The aim is to give MCICM and MCICM(Grad)
members the opportunity to develop and practice
their leadership and strategic skills, with the
support and guidance of the CICM and a mentor,
helping to equip them for future leadership/
Fellowship level roles.
Main areas of learning will include: knowing
yourself as a leader; leadership styles; stepping
up: technical credit skills versus behaviours; and
understanding business strategy.
Who will you nominate?
Who might nominate you?
For more information contact
T: 01780 722900
E: cicmmembership@cicm.com
There are ten spaces available in
2019. Any participant must be: a
current MCICM or MCICM(Grad)
member; nominated by a current
FCICM; in a management level role
or newly appointed to a leadership
level role.
NOMINATIONS OPEN
1 FEBRUARY AND CLOSE
22 FEBRUARY.
Whether you are a Fellow who
wants to nominate a colleague,
or a potential nominee, find out
more about the scheme and the
nomination process by emailing
CICMmembership@cicm.com.
CHARTERED INSTITUTE OF CREDIT MANAGEMENT ●80
YEARS
1939 - 2019

INTRODUCING OUR
CORPORATE PARTNERS
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 a national specialist
division dedicated exclusively to the recruitment of
credit management and receivables professionals,
at all levels, in the public and private sectors. As
the CICM’s only Premium Corporate Partner, we
are best placed to help all clients’ and candidates’
recruitment needs as well providing guidance on
CV writing, career advice, salary bench-marking,
marketing of vacancies, advertising and campaign
led recruitment, competency-based interviewing,
career and recruitment trends.
T: 07834 260029
E: karen.young@hays.com
W: www.hays.co.uk/creditcontrol
The Company Watch platform provides risk analysis
and data modelling tools to organisations around
the world that rely on our ability to accurately
predict their exposure to financial risk. Our
H-Score® predicted 92 percent of quoted company
insolvencies and our TextScore® accuracy rate
was 93 percent. Our scores are trusted by credit
professionals within banks, corporates, investment
houses and public sector bodies because, unlike
other credit reference agencies, we are transparent
and flexible in our approach.
T: +44 (0)20 7043 3300
E: info@companywatch.net
W: www.companywatch.net
HighRadius is a Fintech enterprise Software-as-a-Service
(SaaS) company. Its Integrated Receivables platform
reduces cycle times in the Order to Cash process through
automation of receivables and payments across credit,
e-invoicing and payment processing, cash allocation,
dispute resolution and collections. Powered by the
RivanaTM Artificial Intelligence Engine and Freeda
Digital Assistant for Order to Cash teams, HighRadius
enables more than 450 organisations to leverage
machine learning to predict future outcomes and
automate routine labour intensive tasks.
T: +44 7399 406889
E: gwyn.roberts@highradius.com
W: www.highradius.com
Forums International has been running Credit
and Industry Forums since 1991 covering a range
of industry sectors and international trading.
Attendance is for credit professionals of all levels.
Our forums are not just meetings but communities
which aim to prepare our members for the
challenges ahead. Attending for the first time is
free for you to gauge the benefits and meet the
members and we only have pre-approved Partners,
so you will never intentionally be sold to.
Chris Sanders Consulting (Sanders Consulting
Associates) has three areas of activity providing
credit management leadership and performance
improvement, international working capital
improvement consulting assignments and
managing the CICMQ Best Practice Accreditation
programme on behalf of the CICM. Plans for
2019 include international client assignments in
India, China, USA, Middle East and the ongoing
development of the CICMQ Programme.
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.
T: +44 (0)1246 555055
E: info@forumsinternational.co.uk
W: www.forumsinternational.co.uk
T: +44(0)7747 761641
E: chris@chrissandersconsulting.com
W: www.chrissandersconsulting.com
T: +44 (0) 1302 513 000
E: sales@keyivr
W: www.keyivr.com
American Express is a globally recognised provider
of business payment solutions, providing flexible
capabilities to help companies drive growth. These
solutions support buyers and suppliers across the
supply chain with capital and cashflow. By creating
an additional lever to help support supplier/client
relationships, American Express is proud to be an
innovator in the business payments space.
T: +44 (0)1273 696933
W: www.americanexpress.com
Building on our mature and hugely successful
product and world class support service, we are
re-imagining our risk awareness module in 2019 to
allow for hugely flexible automated worklists and
advanced visibility of areas of risk. Alongside full
integration with all credit scoring agencies (e.g.
Creditsafe), this makes Credica a single port-of-call
for analysis and automation. Impressive results
and ROI are inevitable for our customers that also
have an active input into our product development
and evolution.
T: 01235 856400
E: info@credica.co.uk
W: www.credica.co.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.
Every day, we help our customers by making
complex business payments simple, secure and
seamless.
T: 0870 081 8250
E: emea-info@bottomline.com
W: www.bottomline.com/uk
The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 42

Each of our Corporate Partners is carefully selected for
their commitment to the profession and best practice in the
Credit Industry and the quality of services they provide.
We are delighted to showcase them here.
THEY'RE WAITING TO TALK TO YOU...
Onguard is a specialist in credit management
software and a market leader in innovative solutions
for Order to Cash. Our integrated platform ensures
an optimal connection of all processes in the Order
to Cash chain and allows sharing of critical data. Our
intelligent tools can seamlessly interconnect and
offer overview and control of the payment process,
as well as contribute to a sustainable customer
relationship. The Onguard platform is successfully
used for successful credit management in more
than 50 countries.
T: +31 (0)88 256 66 66
E: ruurd.bakker@onguard.com
W: www.onguard.com
The Atradius Collections business model is to support
businesses and their recoveries. We are seeing a
deterioration and increase in unpaid invoices placing
pressures on cash flow for those businesses. Brexit is
causing uncertainty and we are seeing a significant
impact on the UK economy with an increase in
insolvencies, now also impacting the continent and
spreading. Our geographical presence is expanding
and with a single IT platform across the globe we can
provide greater efficiencies and effectiveness to our
clients to recover their unpaid invoices.
T: +44 (0)2920 824700
W: 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.
T: +44 (0)208 515 1400
E: customerservices@graydon.co.uk
W: 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.
T: +44 (0)1527 872123
E: enquiries@rimilia.com
W: www.rimilia.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.
T: +44 (0) 1367 245777
E: sales@datainterconnect.co.uk
W: www.datainterconnect.com
Dun & Bradstreet Finance Solutions enable
modern finance leaders and credit professionals
to improve business performance through more
effective risk management, identification of growth
opportunities, and better integration of data and
insights across the business. Powered by our Data
Cloud, our solutions provide access to the world’s
most comprehensive commercial data and insights
supplying a continually updated view of business
relationships that help finance and credit teams
stay ahead of market shifts and customer changes.
T: (0800) 001-234
W: www.dnb.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.
T: +44 20 7334 9191
E: Brendan.clarkson@moorestephens.com
W: www.moorestephens.co.uk
DWF is a global legal business transforming legal
services through our people for our clients. With
over 27 locations and 3,000 people delivering
services and solutions that go beyond expectations.
By questioning traditions and thinking beyond
conventions we were recognised by The Financial
Times as one of Europe's most innovative legal
advisers. DWF offers a full range of cost-effective
debt recovery solutions from pre-legal collections
and debt litigation to strategic enforcement,
insolvency proceedings and ancillary services.
T: +44 (0) 113 261 6169
E: David.Scottow@dwf.law
W: www.dwf.law/recover
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.
T: +44 (0)207 469 2577 /
E: uksales@tinubu.com
W: www.tinubu.com.
The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 43
continues on page 44 >

INTRODUCING
OUR
CORPORATE
PARTNERS
For further information and
to discuss the opportunities
of entering into a Corporate
Partnership with the CICM,
contact Marketing on
01780 727273
THEY'RE
WAITING TO
TALK TO YOU...
C2FO turns receivables into cashflow and payables
into income, uniquely connecting buyers and
suppliers to allow discounts in exchange for
early payment of approved invoices. Suppliers
access additional liquidity sources by accelerating
payments from buyers when required in just two
clicks, at a rate that works for them. Buyers, often
corporates with global supply chains, benefit from
the C2FO solution by improving gross margin while
strengthening the financial health of supply chains
through ethical business practices.
T: 07799 692193
E: anna.donadelli@c2fo.com
W: www.c2fo.com
SOAPBOX CHALLENGE
BRIEF
ENCOUNTERS
What a summer spent
working in a cinema box
office can teach us about respect.
HAVE you ever been told
by a customer, ‘that’s not
possible’, ‘you’ve ruined
our week’, or ‘that’s what
they pay you for isn’t it’?
This may sound like a
pressured, high stakes work environment,
but these are phrases I heard all too often at
my summer job working in a cinema.
As a poor student and huge cinephile,
working in the box office of a multiplex
seemed like a perfect fit, especially with half
price tickets. I thought I would debate with
customers over the innovations of Orson
Welles, discuss the merits of Kubrick’s
later work, or even just give them my
recommendations on which new releases
were simply unmissable. The reality was
often a far cry from this.
The actual experience was much
more intense and challenging, with
some customers enraged by the slightest
inconvenience, and deciding that any
mistake they had made was entirely the
fault of the cinema staff.
On one such occasion, an angry mother
told me that I had ruined her daughter’s
weekend when I informed her that the
Saturday morning showing of Moana was
sold out. She arrived five minutes before the
showing was due to start without a booking,
the day after the film had been released.
Clearly all my fault.
However, angry parents were a relative
dream in comparison to kids who’d been
dropped off by a parent and left for the day,
like some sort of unlicensed creche. Armed
with £20 and no supervision, abandoned
children left to roam free would cause
chaos and panic wherever they went, like
the Velociraptors in Jurassic Park. Sneaking
past ushers to get into an 18-certificate
movie, throwing things at each other across
screens and foyers, or trying to steal pick
and mix was a common occurrence.
It wasn’t just the kids, I was once insulted
by a couple of senior customers, who
vowed to never return to the cinema again.
They were incensed that the two seats they
wanted to sit in, that they had apparently
always sat in, had already been reserved
by two other customers. They proceeded to
sit in the seats anyway, and then refused to
move once the actual owners of the seats
SOAPBOX
challenge
arrived. I politely reiterated that the seats
had already been booked and explained that
there were plenty of other seats available in
the screen but they refused to budge. After
a brief encounter with security they finally
vacated the seats, and the cinema, vowing
to never return again.
Cleaning the screens after a movie was
another difficult experience. Popcorn
scattered throughout the aisles, fizzy drinks
spilled all over the floor and sweets stuck to
the seats with seemingly reckless abandon.
None of these factors help the ushers, who
have only a ten-minute turnaround on each
screen before the next audience is let in to
wreak their own havoc. The entitlement of
customers was a sight to behold, as if any
setback was the end of their cinematic
dream, and that no alternative could
possibly rescue them from their despair. I
dread to think how certain cinema goers
deal with the real problems in life.
Cinema, and film in general, should
be a cause for celebration in the UK. Box
office figures are increasing steadily and
film production in the UK is experiencing
a renaissance, with the industry as a whole
now worth over £2.5 billion a year. Large
budget Hollywood blockbusters being
filmed in the UK, coupled with the critical
success of smaller British movies, have
given a high stature to film production in
the UK.
Maybe it is this integration into society
that means that some customers feel
entitled to a perfect experience once they
enter the cinema. A study by the British
Film Institute found that as a society, we
value film not only as entertainment, but
as identity, culture, and as a means of social
connection. Why is it then that people place
such value and respect on the films they see,
but not the environment they see them in?
Oddly, I did enjoy my time working at
the cinema. Working in an environment
where the people you are alongside share
a passion is refreshing. I guess that is true
of the credit industry, and members of the
CICM particularly. And the one thing I have
learned especially, is that a little respect can
go a very long way.
George Hassler is in for a long and
arduous career.
The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 44

THE PERFECT VENUE FOR THIS YEAR’S
CICM FELLOWS’
CELEBRATORY LUNCH
We invite all Fellows to help us celebrate 80 years of
CICM at this year’s special Fellows’ Celebratory Lunch,
at the Churchill War Rooms.
Walk the same corridors as Churchill, peer into the room where his War Cabinet
made their momentous decisions, and marvel at the complexity of the abandoned
Map Rooms, frozen in time since 1945.
Join us for great food, company and to welcome our newest Fellows.
We will also be launching our exciting new Fellows of the Future scheme.
FRIDAY, 7 JUNE 2019
Arrival drinks served at 11:30
Including welcome reception for new CICM Fellows.
Tickets £110.00+VAT per person which includes museum access.
Please email fellowslunch@cicm.com to book
CLIVE STEPS, KING CHARLES STREET,
LONDON, SW1A 2AQ.
The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 45
CHARTERED INSTITUTE OF CREDIT MANAGEMENT ●80
YEARS
1939 - 2019

ASK THE EXPERTS
Payment received?
What happens when a liquidator claims back the
money paid pre-liquidation?
AUTHOR – David Kerr MCICM
David Kerr
THE Institute’s Technical
Committee and helpline occasionally
deal with queries
from members where unusual
circumstances throw
up interesting questions.
One such case recently raised issues surrounding
the liquidation of a customer
company, and the position of the supplier
having received a payment for goods and
continued to supply during a period in
which the customer was subject to winding-up
proceedings (unknown to the supplier).
Our member is the credit manager
of company X, which had an ongoing
contractual relationship with a customer
company Y to supply goods and services
on credit. A sum was outstanding, but
on receipt of a payment of £20,000 last
April for part of the arrears, X continued
to supply throughout the subsequent
two months, until it became aware in
June that a winding-up petition had been
advertised. It transpired that the petition
had been presented to Y in early April
– a fact that first came to X’s knowledge
some time later when the liquidator made
contact to claim back the £20,000.
So, where does X stand? The money
was accepted in good faith and without
knowledge of the impending liquidation,
but would that protect X? The law here is
governed by Section 127 of the Insolvency
Act 1986 dealing with void dispositions – in
essence, it is designed to ensure that once
a liquidation has commenced, creditors
share rateably in whatever assets are
available at the commencement date. In
this case, as in all compulsory liquidations
where the winding-up is by court order,
the liquidation is deemed to commence
when the petition is presented and served
on the company (back in early April).
THE PETITION
A winding-up petition has to be
advertised, and the court will not make
an order unless it has been, but that need
only take place a week before the hearing
(minimum seven days). It need not happen
immediately after presentation/service,
and in any event cannot be done less than
seven days after, but (as in this case) there
can be several weeks of ‘limbo’ – a sort
of hiatus in which the company is not in
liquidation unless or until the court makes
the order, but once the order is made
its effect is back-dated. And that’s what
happened here – a gap of three months,
and a subsequent decision meaning that
the winding-up technically commenced in
April. The subsequent payment to X was
therefore void under S.127.
So, the liquidator was right to unpick
those ‘post-liquidation’ transactions, of
which this was one, leaving X with the
prospect of repaying the £20,000 and
claiming as an unsecured creditor for the
supplies made – including those delivered
between April and June. Not a happy
position! Hence the technical query.
Thankfully, the court has broad
discretion and can make such orders
as it sees fit to remedy situations where
justice demands that the effect of S.127
would otherwise be unfair. The court can
validate or ratify a payment made by the
company if appropriate, but there are
certain tests applied before it will do so,
in line with a published practice direction.
The general aim of the court will be to
preserve the position of the company and
its assets so that a rateable distribution
can be undertaken by the liquidator –
therefore, not allowing a creditor to ‘jump
the queue’. Putting things back to where
they were at the point of presentation in
April is the overriding objective; or, at least
ensuring that the company’s/creditors’
overall position has not been deteriorated
as a consequence of the transaction(s)
under review.
VALIDATION?
The court will look at factors such as
whether the payment made was:
• For the benefit of the general body of
creditors
• Necessary for continued trading
• Improving the position of the business
• Made in good faith
• In the ordinary course of business
• In circumstances where the recipient
was unaware of the petition (that is, preadvertising)
• Any goods/service provided was of
equivalent value.
So, where does that leave X? Well in
this case X supplied goods/services to a
value at least equivalent to the value of
the payment received in April, and this
enabled the company to continue trading
(and ultimately collect debts due and
improve the company’s position overall).
Potentially therefore, X may expect the
court to validate the payment, but these
cases are not always straightforward.
It would not be easy for X to be able
to provide evidence of the company’s
overall position. In such cases, a sensible
discussion and compromise with the
liquidator may be the best way forward.
Worth noting also that once the petition
is advertised, everyone is deemed to be
aware of it, whether the supplier has
actual knowledge or not. Note also that
transactions that fall under S.127 are
automatically void unless validated, so
advice is needed for protection in these
circumstances.
Of course, winding-up through the
court is not the most common type of
liquidation. In the more typical creditors’
voluntary liquidation there could also be
a hiatus before decisions about windingup
are taken, but that is usually shorter
and creditors are informed at an early
stage in the proceedings; backdating
does not usually apply, though directors
will be advised to preserve the company’s
position in the lead up to the formal
commencement of liquidation, and
liquidators have powers to unpick
transactions such preferences.
David Kerr MCICM is an insolvency
practitioner with extensive regulatory
experience and a member of the CICM
Technical Committee.
The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 46

EDUCATION
Reaping the rewards
How training at Travis Perkins is building confidence
and inspiring further education.
AUTHOR – Hilary Lewis, Corporate Member Co-ordinator
Hilary Lewis
There are many
personal success
stories involved
in the company’s
qualification
journey and there
are more in the
pipeline.
IN a climate where cash is evermore
key to business, setting aside time
for employee development and
qualification study is a challenge,
even more so in highly-pressured
and target-driven environments.
Allen Marlborough ACICM, Senior Credit
Controller at Travis Perkins, is confident that
team investment will reap significant benefits
since having qualified colleagues brings
assurance to credit management practices
and creates a culture which fosters continuous
improvement, innovation and high levels
of customer service. As Allen has a keen
interest in further education and an eye for
an economically sound qualification package
– CICM Corporate Membership met all his
requirements.
THE SOLUTION
Allen was keen to offer CICM training and
qualifications to anyone in the team who
wished to benefit. This year, Travis Perkins held
two days of Advanced Telephone Collections
training to build on the skills of those who
would like to learn but could not commit to
a full classroom experience. As Allen says,
this has enabled him to ‘target individuals
with training in a short burst of time’ and
the resulting improvement in colleagues’
confidence has been noticeable. Following the
training, one learner was inspired to sign up
to the qualification course while team leaders
were able to cascade the learning to their
teams.
Travis Perkins is notable as being the
first ever Corporate Member company with
qualification programmes beginning in March
2013. With employees based at two sites in
Leicester and Northampton, the company
has found creative solutions for those wishing
to study Level 3 awards in a classroom
environment. This year, the company held
classes at a mid-way point in Crick and CICM
has delivered Business Law in a mixture of both
longer afternoon and shorter evening sessions
and Credit Management as an early evening
class. In each case, the patterns were devised
to fit in with the work and home commitments
of the learners.
An unexpected advantage of this approach
has been the networking opportunities. Travis
Perkins operates with a team of around 250
employees. Opportunities to network for credit
controllers are slim but through studying,
learners have met colleagues from each site,
learning more about the seven subsidiary
businesses these encompass.
CICM teachers enjoy the experience of
teaching at Travis Perkins as the learners
are enthusiastic and committed. Lead
Tutor, Mary Delahunty has worked with the
company since they first came on board: “I
have been privileged to teach within Travis
Perkins since 2013 and have really enjoyed
being able to share in so many individuals’
personal development journeys. As a tutor it
is always hugely inspiring to see people grow
in confidence and professionalism and hear
about the impact this has on achievement and
success within the organisation.”
THE OUTCOME
Allen’s overarching aim is to enable
individuals to achieve their goals, whether this
is taking one unit to consolidate knowledge,
or aiming for the prestigious MCICM(Grad),
the qualification Allen will himself be starting
soon. Since 2013, Travis Perkins has accrued
an impressive number of awards.
There are many personal success stories
involved in the company’s qualification
journey and there are more in the pipeline.
In an industry known to be tough to work in,
the persistence of Travis Perkins learners in
achieving their qualification dreams alongside
busy work schedules and challenging personal
commitments is something to be celebrated.
THE FACTS:
• Travis Perkins was the CICM’s first
Corporate Member company.
• Since 2013, Travis Perkins has accrued
an impressive 86 qualification awards.
• Four members of staff currently
have Associate status and 18 have
achieved the CICM certificate in Credit
Management.
• The organisation has a trained, skilled
and confident workforce.
• Travis Perkins is also CICMQ accredited
and is committed to maintaining best
practice.
The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 47

EDUCATION
REACHING
THE TOP
The role CICM training has played in helping a
credit manager fulfil her lofty ambitions.
Alice Purdy
ALICE Purdy is Performance
Manager – Customer
Contact Business and
Community Solutions at
E.ON Energy. Based out of
its Phoenix Park office in
Nottingham, she has been with the company
for 11 and a half years.
Before she embarked on her learning
path with CICM she was not aware of the
Institute and all of the various courses and
learning options available. Now she stands
as the first person at E.ON to complete Level
5 Credit Management and Collections, so she
has a great overview of the whole training
life cycle.
“When I first joined E.ON I wasn’t
a very confident person, but I had a
tremendous passion for business and
credit management,” Alice says. “When my
manager suggested I should undertake some
studies with CICM I jumped at the chance
because I wanted to progress in my career as
far as possible.”
E.ON first discussed in-company training
with CICM in 2011. The credit teams at
E.ON are between 800-1,000 strong and
it was the following year that the first
students started training. At Level 3 stage
tutors visit the offices for between 45-50
hours so the learning is well supported and
predominantly exam based.
“At first I found the classes quite nervewracking,
but once I got going I really found
my voice. The energy sector is quite different
to many others as customers are paying for
a service that they have already received, so
the training had to be tailored specifically to
us,” she adds.
“This was my first training since I’d left
school so engagement was always going
to be key. The two tutors have a real skill
of putting business scenarios into real
life examples which made it far easier to
understand. It was well-structured learning
with knowledge being built gradually and
logically.”
Having achieved Level 3, Alice along with
a number of other team leaders started Level
5. There is far more self-learning required
at this level as there is less contact with
tutors, although advice is always at the end
of the phone. We completed one exam and
five assignments for the Level 5 Diploma.
The criteria for passing Level 5 changed in
October; students now have to pass only
four out of the six units which means it
should only take a couple of years to achieve
MCICM(Grad). So far, four groups have
completed the Level 3 exams and another
four will finish Level 5 in early 2019.
During her studies Alice has been
promoted twice and she is in no doubt
as to why her career has been on such a
steep upward trajectory. “The last six years
working with the education team at CICM
has been fantastic. I still refer to my text
books regularly and often still speak to my
tutors Mary Delahunty and Sarah Aldridge. I
wouldn’t be where I am today without their
help and support and being allowed the
time and funding from E.ON. And my CICM
tutors feel like colleagues beyond learning. I
ring them every month or so. CICM branch
meetings are also a fantastic network of
support and advice.”
And the benefits are obviously twofold
for Alice’s company too, as Wesley
McMullen, Small and Micro Business
Customer Contact Manager, Business &
Community Solutions at E.ON UK explains:
“I was Credit Operations Manager before
Alice moved into her new role and her
training with CICM had a big impact on her
insight and on our business.
“Her in-depth knowledge around
the legal aspects surrounding credit
management was invaluable. She helped
to shape new processes by relaying her
knowledge to the team in a way they could
easily understand. This in turn helped to
create the best practice and processes that
shape the training we provide,” he says. “The
coaching and mentoring Alice has given our
teams have brought greater context to their
role and delivered real change in the way we
engage with our customers.”
And Alice is proving to be a real
inspiration to those now coming through the
ranks at E.ON. “The junior members of our
teams see her dedication and passion and
want to follow suit. She is also now a part of
our talent programme who sits on our board
so she can spot the stars of the future.”
The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 48

Tailored
and bespoke
training for
your credit
team
Your specialism is
our specialism
At the CICM we know that credit and collections is a unique profession, and your business
calls for a training solution that is not ‘off-the-peg’.
We take pride in delivering practical and effective learning to credit and collections teams.
Our training is designed and tailored to your business needs and to deliver results.
Your team will learn from our specialist trainers, who all have vast experience in the
profession and will share their real experiences and successes.
WWW.CICM.COM
Our specialist team will manage everything from
start to finish. To find out more information contact –
T: 01780 722907: E: training@cicm.com: W: www.cicm.com
Tailored and bespoke training in...
Developing Credit Strategy; Building Business; Managing Risk; Complying with Regulations; Improving
Customer Relations; Collecting the Cash; Negotiating and Influencing; Psychology of Collections; Achieving
Targets; Debt Recovery; Insolvency; Management Skills.
The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 49

HR MATTERS
Deliberate data disclosure
The liability for disclosing personal information.
AUTHOR – Gareth Edwards
Arecent case – WM Morrison
Supermarkets plc v Various
Claimants – that involved
an employee disclosing the
personal information of around
100,000 fellow employees
on the internet, confirmed that there was a
sufficient connection between the employee’s
employment and his wrongful conduct for
liability to be imposed on the employer.
As to the facts of the case, Mr Skelton
worked for Morrisons as a senior IT internal
auditor. After being involved in a disciplinary
hearing, Skelton formed a grudge against
Morrisons. During an annual audit he was
tasked with providing KPMG with payroll data
for employees. A member of HR provided
Skelton with the data on a USB stick. He then
downloaded the data onto his laptop and then
on to a KPMG USB stick which he then passed
to KPMG as instructed. Two weeks later he
downloaded the same data on to a personal USB.
A further two months later Skelton posted the
data of just under 100,000 Morrisons employees
(including names, addresses, dates of birth,
phone numbers, National Insurance numbers
and bank details) to a file sharing website. He
also sent the data to three newspapers. He was
later arrested and sentenced to eight years in
prison.
Over 5,500 employees brought a group
action against Morrisons for misuse of private
information, breach of confidence and breach
of statutory duty. The High Court initially held
that Morrisons was not primarily liable, but
was vicariously liable for the actions of Skelton.
Morrisons subsequently appealed to the Court
of Appeal (CA) and lost.
So, can an employer be liable for an
employee's misuse of private information?
The answer revolves around a concept term
‘vicarious liability’. But in order for this to apply,
it is necessary to determine whether there is a
sufficient connection between the employee's
job and the act committed. A two-stage test is
used.
The first, field of activities, related to the
nature of Skelton's job. The CA held that dealing
with the data was a task specifically assigned
to Skelton, as opposed to something he simply
had access to. His role was to receive, store
and disclose the data. Therefore, although his
disclosure of the data to parties other than
KPMG was not authorised, it was still closely
related to the tasks he had been assigned.
The other, sufficient connection, links what
Skelton was employed to do and his wrongful
conduct. In this case, although Skelton had
committed the act of publishing the data several
weeks after the initial download, outside of his
working hours, while he was at home using
his own computer, the CA agreed with the
High Court that the act was not disconnected
from his job – rather there was a 'seamless and
continuous sequence’ or 'unbroken chain' of
events linking Skelton’s work to his wrongful
conduct.
The CA also confirmed that the motive
of the individual committing the breach is
irrelevant even where the motive is specifically
to cause financial or reputational damage to
the employer. The CA therefore dismissed the
appeal, finding Morrisons vicariously liable for
Skelton's misuse of confidential information
and breach of confidence. Morrisons has
expressed an intention to appeal to the Supreme
Court.
In terms of best practice, the High Court
Judge held that Morrisons had adequate and
appropriate controls in place, but that it had
failed to ensure that Skelton deleted the data
once he had provided it to KPMG.
Interestingly, the Information Commissioner
found that Morrisons had done nothing wrong.
This is significant because employers can be
liable for data breaches perpetrated by rogue
employees even where the employer is fully
complying with data protection legislation.
Managing risks in this area will therefore be
difficult however employers should consider
a number of steps, including checking that
their current insurance arrangements provide
adequate cover for data breaches, including
the potential for large group claims; and
considering whether additional checks can
be made. This could include taking up extra
references before appointing someone to a
role that includes responsibility for handling
confidential data.
Further, if an employee is subject to
disciplinary action or raises a grievance, the
employer should ensure that the processes
followed are fair and reasonable, that any
outcome is proportionate and that the
communication around the outcome seeks
to identify positives so as to avoid damage to
employer/employee relationship. Similarly,
employers should risk assess whether
disciplinary or grievance processes are likely
to increase the risk of a deliberate data breach.
Allied to this, systematic IT controls should
be put in place that monitor use and provide
alerts where policies are breached, or unusual
activity takes place.
Gareth Edwards is a partner in the
employment team at Veale Wasbrough Vizards.
gedwards@vwv.co.uk
The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 50

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
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
contact: cicmmembership@cicm.com
CM
The magazine for
consumer and
commercial credit
professionals
CM
CREDIT MANAGEMENT
DECEMBER 2017 £12.00
INSIDE
2018 DESKTOP
Face to Face
Sean Feast speaks
to Business Minister
Margot James
CM
CREDIT MANAGEMENT
OCTOBER 2017 £10.00
Life on the edge
Consumers caught
in the debt trap
CREDIT MANAGEMENT
Chain Reaction
The cost of being in
– and out – of debt
THE CICM'S HIGHLY ACCLAIMED MAGAZINE
INSIDE
CM
CREDIT MANAGEMENT
APRIL 2018 £12.00
Barrel Role
How the UK wine industry
is finding cash to grow
CM
CREDIT MANAGEMENT
JUNE 2018 £12.00
Winds of
change
Headwinds on
the path to
economic
improvement
SPECIAL
FEATURES
IN DEPTH
INTERVIEWS
ASK THE
EXPERTS
GLOBAL
NEWS
INTERNATIONAL
TRADE
CURRENCY
EXCHANGE
HR
MATTERS
MOBILE DIGITAL
EDITION
THE LEADING JOURNAL FOR CONSUMER AND COMMERCIAL CREDIT PROFESSIONALS
TO SUBSCRIBE CONTACT: T: 01780 722903 E: ANGELA.COOPER@CICM.COM
The Recognised Standard / www.cicm.com / July/August June 2018 / PAGE 2018 / 58 PAGE 58
The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 51

CAREER’S ADVICE
NEW YEAR
NEW ROLE
Karen Young talks about how to secure a
pay rise in the New Year.
Karen Young
MANY of us will be
pursuing a pay rise with
the coming of the New
Year. But asking for one
can be a nerve-racking
task, and it can be
frustrating and disheartening if the answer
is no. You may also worry about how it could
affect your relationship with your manager.
Taking the right approach means the more
likely it is that you will be able to secure a
pay rise this year.
The best way to start is by asking for
a meeting with your manager early on in
the year. Approaching the topic of a pay
increase is not something which can be done
over email, so make sure you choose an
appropriate time to meet in person.
What’s most important is constructing
a good case for a raise. Developing a clear
and informed business case will help your
boss make a sensible decision, and your case
needs to be focused on providing tangible
evidence of how much of an asset you are to
the business.
Here are some things you need to consider
before you ask the question.
DO YOUR RESEARCH
Find out the industry average for your
current role, otherwise you’ll be in the dark
about how much you can ask for if you are
keen to secure a rise. Using a tool such as the
Hays Salary Checker is a good place to start.
If you discover that the industry wage for
your role is higher than your current wage
then you are within your right to bring this
sort of external benchmarking information
with you when you have a discussion with
your manager.
Before deciding that you deserve a raise
consider how much your benefits (pension
scheme, life insurance, share scheme,
subsidised gym membership etc.) are worth
on top of your salary. Your salary may be the
industry average, but your other benefits
may more than make up for this.
Familiarising yourself with whether your
employer has a common procedure for salary
increases each year will also help ensure
you aren’t caught off guard. If not found on
your company’s internal systems, then make
a general inquiry to the HR department.
The HR department could also help you to
establish when your manager’s budget is
finalised; scheduling your meeting just after
budgets have been confirmed puts you and
your boss in a very tricky position!
BUILD YOUR CASE
Detail a robust agenda for the meeting and
take control. Not only will preparing an
actual sheet of paper with the agenda on it
help you to keep your boss from altering the
trajectory but it will also be useful in helping
your boss go away and consider the matter.
Hard facts and figures visible on a piece of
paper cannot be disputed; whilst they’ll also
help your boss articulate your case to HR,
who will likely also have to approve it.
Consider the value you bring to your
employer. If you have taken on additional
responsibilities and made crucial savings
then you already have some solid evidence
to present. Be specific and provide tangible
evidence, and don’t just say that the cost of
living has gone up, or that you think you
generally do a good job.
DEVELOP YOUR SKILLS
If you are looking for your employer to invest
further in you this year by increasing your
pay or benefits package, you should show
some willingness towards improving your
skills within the business which will not only
help your employer, but also your future
career development. The largest acquired
skills gaps for new entrants in credit control
are technical knowledge and commercial
awareness for example.
Demonstrating to your employer that you
are constantly developing your skills and
knowledge will help you stand out from the
crowd and confirm that you are committed
to your career and personal development.
Even if you are not currently in a position
to seek a pay rise, by developing your skills
to align with those most in demand, you’ll
be poised to take up new opportunities in
your current role or indeed elsewhere. Think
about where you want to be at the end of this
year, and what steps you need to take today
to set you on your way forward.
Karen Young is Director at Hays
Credit Management.
The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 52

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 / January / February 2019 / PAGE 53

The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 54

The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 55

AWARDING BODY
LEVEL 3 DIPLOMA IN CREDIT MANAGEMENT (ACICM)
NAME
Swapnil Alex Lopes
Nicola Balfour
Adam Bebbington
Danielle Booth
Samantha Bressington
Jason Broom
CONGRATULATIONS
Congratulations to all of the following, who successfully
achieved Diplomas in Credit Management.
LEVEL 5 DIPLOMA IN CREDIT AND COLLECTIONS (MCICM(GRAD))
NAME
Christopher Buckard
Lee Connor
Jonathan Coxon
Emily Harding
Kathryn Brown
Andrea Eason
Vincent Kanema
Nela Mencner
Laurentiu-Bogdan Paxaman
Lynn Roy
Valentina Tsialiatidou
Toni West
Kerry-Lea Weston
Daniel Wicks
Ellen Wright
Remi Zubairy
LEVEL 3 DIPLOMA IN DEBT COLLECTION (ACICM)
NAME
Ashley Coates
Richard Hollows
Laura Wood
LEVEL 3 DIPLOMA IN MONEY & DEBT ADVICE (ACICM)
NAME
Cathryn Mitton
James Shuttleworth
Charles Momo
Julie-Anne Moody-Webster
Matthew Norman
Samantha Puddy
Alice Purdy
Kelly Rowlands
Damien Senior
Kieran Way
The The Recognised Standard Standard / / www.cicm.com / January / November / February 20172019 / PAGE / PAGE 56 56

BRANCH NEWS
Kicking things off
Ireland Branch
Glyn Powell FCICM, Branch Chairman presenting the award to the Irish Collections Team of the Year.
THE newly formed Ireland
branch is up and running
with a group of committed
and enthusiastic members,
whose knowledge and
combined experience
will benefit the entire credit community
in Ireland. Following the inauguration
meeting in Croke Park, the committee was
elected as follows: Glyn Powell, Branch
Chair; Paul Whittaker, Secretary; Massimo
Lepri, Treasurer; Ian Finnie, VisionNet;
Ralph Montforts, Maxim Integrated;
Declan Flood, CEO of Irish Credit
Management Training; Jane Kloska, KPMG;
and Michael Burke, National Lottery.
In November, we co-hosted an excellent
All Ireland Utilities Conference in the
City North Hotel in conjunction with
the Northern Irish Branch. This was a
full day event with expert speakers on
topics relevant to all working in this
sector including: ‘Robotics, Automation
and Artificial Intelligence in Credit and
Customer Management’ by Brian Morgan
FCICM from Rimilia; ‘Recruitment,
Development & Retention Strategies’
from Orlagh Reynolds of Hays
Recruitment; and two sessions on
vulnerable customers from Pauline
Brown of St. Vincent de Paul and Debbie
Tuckwood, Head of Education and
Professional Development at CICM. We
also looked at areas including fraud and
regulations with an open forum with a
panel of experts on hand to answer specific
questions from the audience.
There have been a number of
committee meetings and there is a full
calendar of events planned for 2019. On
the Education front we are launching
the CICM Diploma course in Dublin in
conjunction with Irish Credit Management
Training (ICMT), starting in UCD, Belfield
on 21 February 2019. It will be classroombased
and the first term will cover Credit
Management and Business Environment
for ten weeks and hope to attract a large
number of students to gain a valuable
qualification. We are also offering a
selection of assignment-based subjects,
where students will attend four half day
sessions to learn, prepare and finalise
their assignments on a number of valuable
credit related topics.
It is our intention to grow an active,
valuable and informative organisation in
Ireland for everybody working in the area
of credit management.
AUTHOR: Declan Flood FCICM
The Journey Ahead
Sheffield and District Branch
SHEFFIELD and district branch members
and guests had an interesting and
enjoyable evening taking part in The
Journey Ahead workshop at the cuttingedge
AMP Technology Centre facility in
Sheffield. Following refreshments and an
opportunity to network with like-minded
credit professionals guests were seated
and presentations began.
Daniel Cherry of Hays was able to give
a sneak peek into the upcoming Hays
UK Salary Survey and Recruiting Trends
guide 2019. At the time of writing the
official launch was weeks away and CICM
members had a preview of top secret
statistics on the current employment
market with a focus on credit. Some
surprisingly optimistic findings were
observed.
Simon Johnson delivered a presentation
on interpreting company accounts and
credit reports. This was an in-depth
lecture looking at case studies within
credit delivered by the top talent within
the industry. A fantastic opportunity
to learn, absorb and ask questions for
both experienced and budding credit
professionals. Simon was able to give an
invaluable insight into how he has been
able to reach his position as UK Credit
Director at SIG.
Finally, CICM Vice President Laurie
Beagle gave a highly informative and
personable update on all things CICM.
Laurie guided us through the many
benefits of membership and the more
varied study options now available as
well as how to get more involved with
the branch. Laurie was able to give his
account on how CICM has facilitated so
much throughout his career.
Following the presentations, the
members of the committee relished the
opportunity to speak to members and
potential new members on a one-to-one
basis to share knowledge and experiences.
It was a real joy to spend time with
credit professionals starting out on their
journeys.
As the evening came to an end after
much food for thought, members and
guests were delighted to leave with a CICM
goodie bag containing coffee cup, drink
mat, pen and even a stick of CICM rock!
Many thanks to CICM HQ, AMP
Technology Centre, Simon Johnson,
Laurie Beagle and all attending members
and guests for making the evening a
great success. The committee would like
to thank all sponsors and members for
their continued support of the branch
and its events in 2018. We look forward
to seeing you all again and welcoming
new members and promoting credit as
a profession across the region in 2019
further. Author: Daniel Cherry
The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 57

BRANCH NEWS
Deal or No Deal Conference
East of England Branch
BRANCH Chairman Richard
Brown welcomed delegates
from eight CICM Branches
to this free conference,
introducing Branch
Committee member Chris
Parker of hosts Goodman Masson. Chris
gave a brief update then William Buist of
Xten presented on the risks of negotiating
badly, carefully examining the types of
deals that credit professionals make and
expertly detailing some of the methods
we could introduce to our own working
practice to ensure that we are getting the
best we can for our businesses, customers
and ourselves.
Steve Savva FCICM, Managing Director,
Credit Management Training (CMT),
delivered an energetic presentation on the
importance of looking behind the figures
before working with new clients. With
many tips and tricks learnt from his own
career, Steve showed us the warning signs
to look for, and how we can minimise
risk when engaging with prospective
customers.
Beth Poole from Great Ormond Street
Hospital (GOSH) shared her experiences as
a patient and outlined how the generous
charity donation from Martin Eaves of
Advanced Collection Systems might be
used.
Following a delicious buffet lunch and
networking, Tim Parkman of Lessons
Learned skilfully dissected the psychology
behind forging deals and the importance of
understanding ourselves before attempting
to understand our customers.
An open discussion was led by Branch
Committee members Atul Vadher,
Katherine Bailey and Lyn Commons
speaking about their own real life
experiences as credit managers on ‘the
shop floor’.
Sidney Demadema of Tempest
Recruiting won the business card draw,
sponsored by Cforia and presented by
Matthew White.
An informative Q&A saw our speakers
joined by: Gerry Brown of NovaQuest
Capital Management; Stephen Cowan at
Yuill + Kyle; Robert Sorrentino from ACS;
Gary Stewart at YourDMS; and Matthew
White Cforia.
The conference feedback was
exceptionally good about the content, the
speakers and the venue, and the Branch
thanks Goodman Masson for its generous
hospitality and donors ACS and Cforia.
AUTHOR: Chris Parker
Hole in One!
Bristol and West and Thames Valley Branch
THE Bristol and West and Thames Valley
branches of the CICM came together for
their first joint Golf Day, at Wrag Barn Golf
Club near Swindon. Five teams and 20
players contested four awards. The team
award was won by Verizon.
The skies were clear all day, the sun was
out the whole time and at dinner we even
needed to close the curtains as the sun was
streaming into our eyes.
The main award of the day – the
Andy Scholes memorial trophy – went to
Richard Lester of Shoosmiths, who scored
a very impressive 42 stableford points.
Prizes were also awarded for longest drive
and nearest the pin.
Congratulations to all of our winners
and thanks to all that came along for
making it a very memorable day.
Planning has already begun for a repeat
of the event in mid-2019 and we are pretty
sure many of those that attended will
come along again and bring more friends!
Author: Gary Baker FCICM
The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 58

BRANCH NEWS
Starting Your Own Business
North East Branch
OVERLOOKING the Tyne River, North
Shields was the venue for an informative
talk on the pitfalls and benefits of Starting
Your Own Business.
Janice Ross from the North Tyneside
Business Factory helped people through
the myriad options alongside providing
support, help and guidance.
The event was well attended and
Janice turned an often dry topic into an
interesting evening where not only the
practicalities of starting your own business
MEMBERS and guests spent a most
enjoyable evening networking, dining,
dancing and having a flutter at Genting
Casino in Sheffield.
We gathered in the VIP lounge for a fizz
reception and some serious networking
before being amazed by the sleight of hand
of the resident magician – try as we might,
we just could not see how he was doing his
tricks, despite our close-up view!
The dining room beckoned where
the first turkey dinners of the season
were served whilst being entertained by
excellent local vocalist Jess Armstrong.
After the crackers were pulled, the
Christmas pudding eaten and a boogie on
the dance floor, we made our way down to
the gaming floor.
Thankfully no shirts were lost but
likewise no millionaires made. The speed
at which the chips on the roulette table
2019 will see the relaunch of the East
Scotland branch of the CICM, and in
preparation we are working on a new plan
of training and networking events for the
East of Scotland area. Our aim is to provide
opportunities for our members to talk to
like-minded credit professionals and share
experience and best practice, as well as
practical examples of what has and hasn’t
worked in organisations like yours.
We cannot do this without the
continuing support of our existing
members and, we are hoping, some
new members too. This is your chance
to get involved and influence the CICM
membership offering and branch activity
in Scotland. Paul Taylor, CICM Regional
Representative for Ireland, Northern
were explored, but also where motivation
and inspiration were key factors.
With a free buffet and plenty of
opportunities for questions, the evening
was another successful event for the North
East Branch.
The branch committee would like to
express its thanks to all who attended with
a special mention for Janice for her time,
effort and expertise.
Author: Allan Poole MCICM
Festive network event
Sheffield and District Branch
were pushed down the chute was eye
watering. The last gamblers made their
way home around 1am.
The event was a fitting celebratory end
to the year. Many thanks to Genting Casino
and all attending members and guests for
making the evening a great success.
Author: Paula Uttley MCICM(Grad)
Exciting news
East Scotland Branch
Ireland and Scotland, says we urge all
those involved in credit management
and interested in helping shape the
future of credit in Scotland to contact
us and have your voice heard: “Whether
you are a studying Member, Fellow,
Affiliate, Member or Associate (or not
yet a member) we want to hear from you.
Get in touch to find out more. There is no
commitment needed, we just want to hear
your ideas.”
So if you have a passion for credit
management, call Paul on 028 7035 0682,
or email paul.taylor@lynasfoodservice.
com, or with CICM headquarters
branches@cicm.com or 01780 722903.
Author: Paul Taylor MCICM
Christmas
Quiz night
North East
Branch
SO…under the Christmas lights the great
and the good brave enough to tackle
the legendary CICM Christmas Quiz
gathered in Newcastle to do battle. The
popularity has grown to the extent that
we were over-subscribed, but those lucky
enough to partake were fuelled by a tasty
festive spread provided by our venue
hosts The Old George Inn. Challengers
locked horns on a light-hearted variety
of question rounds, with spot prizes and
a raffle breaking up the serious business
of challenging last year’s winners
Northumbria University.
Our quizmistress Angie Deverick
put them through their paces and this
year we have a new name on the annals
(breaking up the Northumbria University/
Mincoffs Law dominance of the last
few years). Muckle stormed ahead and
took the title in fine fashion (they are
pictured with big winning smiles!) Last
but not least we have to say a very big
thank you to Hays, Muckle, Mincoffs
Solicitors, Paul Card Recruitment,
Northumbria University, Waters and Gate
Debt Collection, Sintons Debt Recovery
and the Old George for sponsoring some
fantastic prizes that helped to make the
evening not only great entertainment, but
a highly successful branch event. Great
job everyone! Thanks for all your help in
2018.
Author: Angie Deverick MA MCICM
The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 59

TAKE CONTROL
OF YOUR CREDIT
CAREER
COLLECTIONS MANAGER
MANAGE YOUR EXPERT TEAM
London, £50,000 + bonus
A consultancy business in west London is looking to add
a collections manager to its team. Rapidly becoming a
market leader and expanding its client base by 40% over
the last year, this role will manage three credit controllers.
You will be responsible for ensuring high collections,
setting individual and team targets, appraisals, 1 to 1s,
aged debt reporting and cash flow forecasting. You
will be an analytical mind and have experience within
collections and managing a collections team. This is an
amazing opportunity for an individual who thrives in a
targeted environment and enjoys a sociable working
culture which rewards high achievers. Ref: 3503370
Contact April Gunn on 020 3465 0020
or email april.gunn@hays.com
SENIOR CREDITS CONTROLLER
BUILD KEY RELATIONSHIPS
High Wycombe, up to £30,000
Working for a market leader within the leisure industry,
a senior credit controller is required for a broad and
varied role. This role would suit someone used to working
with international ledgers with an analytical nature.
You will be looking for a role where you continuously
think outside the box and want to take the next step in
your career. In return, you will be offered opportunities
to improve processes and inject fresh ideas where CICM
study support is provided to enable you to develop
your career.
Ref: 3401302
Contact Emma Ruttle on 01908 870254
or email emma.ruttle@hays.com
SOLE CHARGE CREDIT CONTROLLER
TAKE FULL RESPONSIBILITY
Leatherhead, up to £36,000 + benefits
A sole charge credit controller is required to join
a growing, international firm. In this newly created
position, you will be responsible for maximising
collections and minimising aged debt by building
strong working relationships with both colleagues and
customers, as well as taking full responsibility for the
entire collection process up to and including litigation.
Previous experience working as a credit controller within
a chartered accounting or legal firm is essential. This is
an excellent opportunity to join a successful firm, in a
role that you can make your own.
Ref: 3493524
Contact Natascha Whitehead on 07770 786433
or email natascha.whitehead@hays.com
WORKING CAPITAL ASSISTANT
JOIN AN INTERNATIONAL LAW FIRM
London, up to £29,000
Due to a backlog of high volume invoices, this international
law firm is seeking an individual to assist and make a
difference through a 3-6 month fixed term contract.
With a strong focus on invoice amendments, high volume
processing and allocation of fees and disbursements,
this role will require billings experience and good time
management skills to meet deadlines. You will be able to
deal with enquiries and conduct yourself professionally,
ensuring you assist with the running of a department.
This is a fantastic opportunity to enhance your CV and
make a huge impact. Ref: 3460483
Contact Megan Allen on 020 3465 0020
or email megan.allen@hays.com
hays.co.uk/creditcontrol
The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 60

CREDIT CONTROLLER
JOIN AN INTERNATIONAL COMPANY
London, up to £28,000
An international media company based in London is
currently looking for a French speaking credit controller
to join its finance team on an initial four month contract
basis. This is an integral role within the business where
you will be within a team of five in credit control and
report to the Credit Manager. You will be responsible for
your own ledger, predominantly with clients based in
France and North Africa. To be considered, you will have
previous experience within credit control and be either
fluent or native French speaking.
Ref: 3497157
Contact Summer Mostafa on 020 3465 0020
or email summer.mostafa@hays.com
CREDIT CONTROLLER
DEVELOP YOUR CAREER
Nottingham, up to £25,000
This high-growth HR technology business helps businesses
manage employee time-off and absence efficiently and
has acquired a new, state of the art business premises
in the heart of Nottingham. This driven, innovative,
collaborative and forward-thinking company is looking for
an individual who not only wants to make an immediate
difference but also wants to develop their career. Your
duties will include reducing outstanding debt, managing
the sales ledger, creating robust processes, resolving
complex queries and supporting the Finance Director and
Assistant Accountant. The business provides a fantastic
environment, plenty of incentives and a genuine pathway
for personal development. Ref: 3484223
Contact Megan Rogers on 0115 947 7500
or email megan.rogers@hays.com
FINANCE BILLER
SUCCESS THROUGH EXPERTISE
London, £26,000-£28,000 + benefits
This international PR media company is seeking a finance
biller to work in a professional, yet friendly working
environment with amazing offices. Your main duties
will include invoicing, raising jobs on SAP, ensuring fees
and costs are raised, maintaining client data forms, client
reconciliations, reporting, SOX compliance, maintaining and
updating job trackers and working with the team to ensure
WIP is kept low. To be successful, you will be a team player,
demonstrate strong people and relationship building skills,
have strong Excel skills and previous billing experience. SAP
experience is advantageous but not essential. Ref: 3498851
Contact Julia Foster on 020 3465 0020
or email julia.foster2@hays.com
CREDIT CONTROLLER
MAKE AN IMPACT
Crawley, £26,000 + excellent benefits
Hays has partnered with a growing and leading
organisation in Crawley. It is looking for a target-driven,
professional and dedicated credit controller to join its
close nit credit control team. Reporting into the Credit
Supervisor, this varied and fast-paced role’s duties will
include but not be limited to chasing all allocated over
debts, maintaining and updating portfolio of aged debt
and identifying and resolving outstanding queries. This
is an exciting opportunity for a highly motivated team
player to join an established and reputable organisation.
Ref: 3492920
Contact Ella Tasker on 01293 220402
or email ella.tasker@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.
The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 61

View our digital version online at www.cicm.com
Log on to the Members’ area, and click on the tab labelled
‘Credit Management magazine’
Just another great reason to be a member
Credit Management is distributed to the entire UK and international
CICM membership, as well as additional subscribers
The Recognised Standard
www.cicm.com | +44 (0)1780 722901 | editorial@cicm.com
The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 62

New CICM members
The Institute welcomes new members who have recently joined
ASSOCIATE
AFFILIATE
FELLOW
MEMBERS
Joanne Barton
Tariq Ali
Simon Bollington
Joanne Darlow
Giuseppe Farina
Harvey Fielding
Wendy Humphrey
Mohammad Khan
Nicki Blair
Doreen Kilshaw
Stacy Matthews
Jan Reeves
Pamela Richardson
Andrew Shipley
Marc Smith
Jazmin Winton
Maxine Wright
Caroline Arnold
Richard Green
Paul Kirby
Shu-Ken Li
Robert Matthews
Beverley Oliver
Joseph Pettit
Rachel Stanton
Robert Ball
Panos Michalopoulos
Paul Uppal
James Warnock
Robert Coles
Nathan McQueen
Rob Sands
Emma Hayzen-Smith
Annmarie O'Brien
Neil Sutcliffe
Zanele Tshabalala
Adam Wannan
STUDYING MEMBERS
Hisham Allam
Barbara Armstrong
Laura Barry
Mathew Bowater
Debbie Burke
Joshua Catterall
Shaun Chamberlain
Katarzyna Chojnacka
Dale Coppard
Eve Davis
Ajaypal Dulay
Michal Dusilo
Fatiha El Mozazi
Julie Fleming
Kelly Foale
Winston Frederick
Dominic Goddard
Daniela Gomez
Danielle Gray
Peter Haigh
Malgorzata Horab
Tammi Huxtable
Derrick Kankam-Hoppe
Emma Kennedy
Erin Lever
Amanda Lowrie
Haris Mahmood
Dumitru Marocico
Patrick McDonnell
John McNeill
Barbara Mendes
Ashleigh Moore
Stephen Murphy
David Mustoe
Seana Nixon
Sharon O'Connor
Mitan Patel
Christopher Peake
Jolene Phillipson
Joanna Piasecka
Aaron Powell
Will Powell
Kubik Sandra
Kelly Sheridan
Kasia Sierlecka
Marta Sikora
Paul Singers
Emma Smith
Lynsey Smylie
Ewelina Snopek
Louise Tan
Charlotte Tritton
Imrana Usmani
Tendesayi Vengesayi
Richard Williams
Eudoxie Yapi
Manawar Ali
Mary Barron
Sarah Beeton
Katharyne Brindle
Oluwatosin Dawodu
Kirsty Dear
Richard Edwards
Franklin Fevrier
Luke Fowler
Anita Glindoni
Samantha Goulding
James Hall
Scott Harvey
Nichola Hicks
Lorna Holden
Beverley Jackson-Broome
Sandra Kubik
Michael Miller
Rachael Murrell
Kieran O'Carroll
David Phillips
Bryony Purvis
Bjorn Reichmann
Leonid Shuleshko
Mark Stanley
Siobhan Stevenson
Tina Tomkinson
Nick Tumber
Dmytro Tupchiienko
Monir Uddin
Ashley Warner
Michaela Watson
Samantha-Joeane Whitby
Katrina Wilson
Anna Wright
FORTHCOMING EVENTS
CICM EVENTS
30 January
CICM South Wales Branch
CARDIFF
Are The Robots Coming or Are They Here
Already? What will you do?
Contact : To reserve a place- please email
southwalesbranch@cicm.com
Diana Keeling (07921) 492348
VENUE : Atradius 3 Harbour Road, Cardiff,
CF10 4WZ
30 January
CICM Corporate Partner HighRadius
ONLINE
Credit and Sales: Can Cats and Dogs Work
Together?
Contact : Visit our website for login details.
31 January
CICM West Scotland Branch
GLASGOW
Annual General Meeting
Contact : If you wish to attend the AGM
please email: westofscotlandbranch@cicm.com
VENUE : Blythswood Square Hotel Monte Carlo
Suite Reception, 11 Blythswood Square, Glasgow,
G2 4AD
6 February
CICM West Midlands Branch
BIRMINGHAM
Annual General Meeting and Quiz
Contact : Susan Byrne (01922) 452881 / 07721
31551
VENUE : Primitivo Bar 10 Barwick Street,
Birmingham, B3 2NT United Kingdom
6 February
CICM East of England Branch
BRENTWOOD
Annual General Meeting with Insolvency and
CICM HQ Update (2CPD)
Contact : eastofenglandbranch@cicm.com by 5
February 2019. Carol Baker (01277) 201554 / 07710
392934
VENUE : FRP Advisory, Jupiter House
Warley Hill Business Park, The Drive, Brentwood,
CM13 3BE
26 February
CICM Thames Valley Branch
MARLOW
Breakfast Briefing and AGM
Contact : thamesvalleybranch@cicm.com.
Mark Preston 07889692316
VENUE : Dun & Bradstreet Marlow International,
Parkway, Marlow, SL7 1AJ
OTHER EVENTS
5 February
Forums International
STRATFORD UPON AVON
Senior Credit Management Forum
Contact : Fsmf@forumsinternational.co.uk.
12 February
Forums International
STRATFORD UPON AVON
Pharmaceuticals & Medical Devices Credit Forum
Contact : For more information and
an information pack Email pmf@
forumsinternational.co.uk.
28 February
Utility Week –
BIRMINGHAM
Chartered Institute of Credit Management is a
proud supporter of the Utility Week Consumer
Chaired by Philip King FCICM, CICM Chief
Executive. Consumer Debt Conference –
Supported by CICM
When registering insert promo code CICM15 to
get the 15% discount.
Contact : Visit our online calendar for further
registration details.
VENUE : Birmingham Conference & Events
Centre Hill Street, Birmingham, B5 4EW
The Recognised Standard / www.cicm.com / January / February 2019 / 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 / January / February 2019 / 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 / January / February 2019 / 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 Finance Solutions enable modern finance
leaders and credit professionals to improve business performance
through more effective risk management, identification of growth
opportunities, and better integration of data and insights across the
business. Powered by our Data Cloud, our solutions provide access
to the world’s most comprehensive commercial data and insights
- supplying a continually updated view of business relationships
that helps finance and credit teams stay ahead of market shifts and
customer changes. Learn more here:
www.dnb.co.uk/modernfinance
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 / January / February 2019 / PAGE 66

BE ONE CLICK AWAY
FROM OUR WEBSITE
How to set up a great one click link to the CICM website on
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Step 1 Step 2 Step 3 Step 4
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Step 1 Step 2 Step 3 Step 4
Open cicm.com in Google Chrome browser > Tap Menu button > Tap add shortcut to Home screen
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THE RECOGNISED STANDARD IN CREDIT MANAGEMENT
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The Recognised Standard / www.cicm.com / January / February 2019 / PAGE 67

www.tcmgroup.com
Probably thebest debt collection networkworldwide
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