Credit Management Jan:Feb 2019

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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
Page 1: CREDIT MANAGEMENT CM JANUARY/FEBRUA
Page 4 and 5: EDITOR’S COLUMN The need for cons
Page 6 and 7: NEWS IN BRIEF CICM TO RELAUNCH EAST
Page 8 and 9: NEWS IN BRIEF Pack your bags NEW a
Page 10 and 11: NEWS IN BRIEF Prize Winners Two ca
Page 12 and 13: INSOLVENCY Trust, transparency, con
Page 14 and 15: OPINION AUTHOR - SEAN FEAST FCICM P
Page 16 and 17: OPINION AUTHOR - SEAN FEAST FCICM M
Page 18 and 19: TOWN AND COUNTRY CHEMICAL REACTION
Page 22 and 23: VIEW FROM THE SEAFRONT A classical
Page 24 and 25: COUNTRY FOCUS Northern Ireland is o
Page 26 and 27: TRADE TALK PANIC STATIONS How busin
Page 28 and 29: INTERNATIONAL TRADE Monthly round-u
Page 30 and 31: HIGH COURT ENFORCEMENT OFFICERS ASS
Page 32 and 33: OPINION PULLING THE WOOL Looks can
Page 34 and 35: 80 YEARS OF THE CICM Meeting of min
Page 36 and 37: PAYMENT TRENDS Reasons to be cheerf
Page 38 and 39: THE RECOGNISED STANDARD CICM Britis
Page 40 and 41: LEGAL MATTERS More FOS anyone? Prop
Page 42 and 43: INTRODUCING OUR CORPORATE PARTNERS
Page 44 and 45: INTRODUCING OUR CORPORATE PARTNERS
Page 46 and 47: ASK THE EXPERTS Payment received? W
Page 48 and 49: EDUCATION REACHING THE TOP The role
Page 50 and 51: HR MATTERS Deliberate data disclosu
Page 52 and 53: CAREER’S ADVICE NEW YEAR NEW ROLE
Page 54 and 55: The Recognised Standard / www.cicm.
Page 56 and 57: AWARDING BODY LEVEL 3 DIPLOMA IN CR
Page 58 and 59: BRANCH NEWS Deal or No Deal Confere
Page 60 and 61: TAKE CONTROL OF YOUR CREDIT CAREER
Page 62 and 63: View our digital version online at
Page 64 and 65: Cr£ditWho? CICM Directory of Servi
Page 66 and 67: Cr£ditWho? CICM Directory of Servi
Page 68: www.tcmgroup.com Probably thebest d

Credit Management Jan:Feb 2019

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