CM July_August 2019




JULY / AUGUST 2019 £12.50



Below the


Pressure grows on

the Pre-Pack Pool



Sean Feast FCICM

speaks to Court

Enforcement Services

Pages 16-19

Growing concern

around online

card fraud

Pages 24-25

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Stuart Hopewell FCICM takes a closer

look at why engagement with the

Pre-Pack Pool is at an all-time low.


Sean Feast FCICM speaks to the

founders of Court Enforcement



Online card fraud is on the rise but a

new authentication process could make

the difference.


Artificial Intelligence: can credit

analysis be accurate when no real data

is available?



Members of the CICM Think Tank reveal

the tech they cannot be without.


Gareth Edwards explores the most

recent employment tribunal cases.


SMEs need to ask the right questions to

get the best candidates.





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 / 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 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.


Chartered Institute of Credit Management

The Water Mill, Station Road, South Luffenham


Telephone: 01780 722900




Managing Editor

Sean Feast FCICM

Deputy Editor

Alex Simmons

Art Editor

Andrew Morris

Telephone: 01780 722910


Editorial Team

Imogen Hart, Rob Howard and Iona Yadallee


Grace Ghattas

Telephone: 020 3603 7946



Stephens & George Print Group

2019 subscriptions

UK: £112 per annum

International: £145 per annum

Single copies: £12.50

ISSN 0265-2099

The Recognised Standard / / July/August 2019 / PAGE 3


Check-out the

double standards

Sean Feast FCICM

Managing Editor


had to chuckle last month when I

was alerted to an article that said

that six grocery retailers, including

Aldi, Lidl, and Morrisons, had

been contacted by the Business,

Energy and Industrial Strategy

(BEIS) Committee to establish why they

have not signed the Prompt Payment Code


Rachel Reeves MP, chair of the

committee, had apparently sent letters

to the heads of each of the companies

to question why they had not become

signatories of the PPC, the voluntary

code which sets standards for payment

practices for suppliers and is, as we know,

administered for BEIS by the CICM.

Other retailers contacted by Reeves

included Iceland, Ocado and B&M.

Currently only half of the 12 regulated

grocery retailers in the UK – Asda, Co-op,

Marks & Spencer, Sainsbury’s, Tesco and

Waitrose – are listed as signatories.

In the letters, Reeves has written: “Only

six of the 12 regulated retailers under the

Groceries Supply Code of Practice are

signatories to the Prompt Payment Code,

and I am writing to ask you why (the

retailer) is not one of those signatories?”

So why was I chuckling? Surely this

is a sensible and praiseworthy move by a

respected committee and chair intent on

promoting best practice and improving

the lot of small businesses in the supply

chain? Surely all good retailers who are

committed to their respective supply

chains should most certainly be evidencing

that commitment by being signatories to

the Code?

I was laughing because this is the very

same Rachel Reeves who back in November

of 2018 wrote to the Small Business

Minister, Kelly Tolhurst, and described

the Prompt Payment Code as being ‘wholly

ineffective’. If Ms Reeves truly believes that

the PPC is ‘wholly ineffective’ then why

should the retailers she has now written to

pay any heed to her words, and why would

she insist that they should join? It’s like

telling someone a restaurant is rubbish one

minute, and then in the next breath asking

them why they haven’t eaten there yet!

I don’t mind a few inconsistencies in

what our politicians do and say. I don’t mind

politicians who also change their minds

once given the full facts or an opposite view.

Perhaps that is what has happened here?

Perhaps Ms Reeves’ immaculate conversion

from arch detractor to staunch supporter is

because she has now been properly briefed

and understands the purpose of the Code

and what it can achieve.

And perhaps, just perhaps, it will be a

lesson to others to do their research before

opting for what seems like petty political

point-scoring (nice alliteration – my old

English beak would be most impressed)

that does a disservice to all those who

are genuinely committed to breaking the

scourge of late payment.

It’s like telling someone a restaurant

is rubbish one minute, and then in

the next breath asking them why

they haven’t eaten there yet!

The Recognised Standard / / July/August 2019 / PAGE 4



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A round-up of news stories from the

world of consumer and commercial credit

Written by – Sean Feast FCICM and Alex Simmons

CICM highlights success of Code

in changing payment behaviour

FIFTEEN of the seventeen

businesses highlighted

for poor payment practice

in May have filed action

plans or are preparing

submissions to improve their treatment

of smaller suppliers, demonstrating the

effectiveness of the Prompt Payment


Philip King FCICM, Chief Executive

of the Chartered Institute of Credit

Management (CICM), says firms have

responded positively to approaches by

the CICM and the PPC Compliance Board:

“Businesses clearly see the value in

being a signatory to the Code and, more

importantly, the potential damage to

their reputation if they fail to honour the

commitments that the Code demands.

“What is most pleasing is the innovative

way in which firms are addressing

the challenge and demonstrating best


New initiatives which show best

practice have come from:

* Engie Services Ltd – which has

launched a new policy to mandate the

use of purchasing cards for all purchases

of £500 or less, giving suppliers

immediate payment and reducing

invoice volumes by 20 percent.

* Kellogg Brown & Root Limited –

which is embarking on an awareness

programme and further training for all

staff with a procurement role to reinforce

the need to settle more than 95 percent of

all supplier invoices within 60 days.

* DHL – which is re-setting its payment

runs to a full ten days below the

contracted payment terms (to 50 days)

to guarantee that suppliers are paid early

or on time. This overcomes a previous

complication with payment runs being

fixed on a particular date in every month,

and what happens when a date coincides

with a weekend or bank holiday.

“The purpose of the Code has always

been to promote a culture of best practice

in the treatment of suppliers, and this is

proof positive that the Code is working,”

Philip added.

Companies who sign up to the Code,

administered by the CICM on behalf of

Government, pledge to uphold its best

practice for payment standards. This

includes the commitment to pay 95

percent of all supplier invoices within 60


The Prompt Payment Code

Compliance Board, chaired by Philip

King and including the Small Business

Commissioner Paul Uppal, regularly

reviews the data reported by large

companies under the Payment Practices

Reporting Regulations to ensure they are

upholding their commitments.

Businesses suspended from the

Code are invited to produce an action

plan setting out how they will achieve

compliance within an agreed period.

When they have achieved compliance

their status as a Code signatory is

reinstated. If they do not, they are


Philip says the actions of a minority

who continue to treat their suppliers

unfairly, however, remains a concern:

“We will continue to challenge

signatories to the Code if the obligatory

Payment Practice Reporting data, or a

specific challenge from a supplier or

representative body, suggests that their

practices are not compliant with the


Meanwhile, Stephen Bowcott,

Chief Executive of John Sisk, defended

his company’s removal, claiming to

be ‘one of the best payers in the

industry’. He said that as many as half

of the ‘small ticket’ invoices sent to the

firm had some kind of error and that his

company ‘did not have a problem’ with

late payment. John Sisk reported 72

percent of invoices were paid within 60

days in its last PPR submission to end of

December 2018.

“Whereas incorrect invoices and

disputes are always a cause of late

payment, they are also used by some

firms as a convenient explanation that

can sometimes be exploited,” Mr King

added. “Either way, they highlight the

need for smaller firms to adopt bestpractice

credit management and for

larger firms to take responsibility in

helping the supply chain to understand

the process they need to follow to get

paid on time.”

STOP PRESS: The CICM has welcomed

proposed new powers for the Small

Business Commissioner to tackle

late payment, including a further

strengthening of the Prompt Payment

Code and a new fund to encourage

businesses to use technology to

simplify invoicing, payment and credit


A full report in our next issue.

The Recognised Standard / / July/August 2019 / PAGE 6

StepChange supports calls to

revisit social tariffs

STEPCHANGE Debt Charity says that

vulnerable customers of energy firms are

still being let down, and that clients who

had an additional vulnerability were more

likely to be behind on their household bills

than clients who did not.

Responding to a report by the Commission

for Customers in Vulnerable Circumstances,

Peter Tutton, Head of Policy at StepChange

Debt Charity, says that there is a clear

link between vulnerability and financial

difficulty: “The Commission are right to

call for Ofgem and suppliers to revisit the

question of social tariffs. We believe there

Manufacturing slump

THE UK manufacturing sector slipped

into contraction in May – the first time

it has done so since July 2016, according

to the latest PMI. Manufacturers reported

increased difficulties convincing clients

to commit to new contracts, reflecting

already high levels of inventories following

stockpiling activity in the run-up to the

original Brexit date. The IHS Markit/CIPS

UK Manufacturing Purchasing Managers’

Index slumped to 49.4 in May, down on 53.1

in April and against the neutral reading of


is a need for a wider Government review

of fuel affordability as part of a strategy to

ensure that no household with a vulnerable

person has to resort to credit or fall into

debt to pay their bills. “We are also pleased

to see the Commission’s support for the

Government’s breathing space scheme,

which we have long campaigned for, as

well as the recognition that bailiffs should

never be used to chase debts from clients in

vulnerable circumstances.”

StepChange’s Phil Andrew discusses his

first year in charge of the Debt Charity in a

news special on page 10.

Triple jeopardy

INVESTMENT scams involving

cryptocurrencies such as bitcoin and foreign

currency trading have tripled in a year, with

the average victim losing £14,600, according

to the Financial Conduct Authority (FCA).

The regulator and the police-run body

Action Fraud are warning the public to be

wary, with the scams typically promising

high returns and carried out via bogus

online trading platforms. More than £27

million was lost to frauds involving socalled

crypto-assets and forex investments

in 2018-19, said the FCA.

ACCA calls for increased audit quality

PROPOSALS to deal with the perceived

audit expectation gap need to be framed

around increasing audit quality for the

benefit of capital markets and economies,

says ACCA in its official response to the Sir

Donald Brydon’s independent review.

Consistent with feedback to previous

reviews, including those conducted by

the Business Energy and Industrial Skills

Select Committee, Sir John Kingman and

the Competition and Markets Authority

(CMA), ACCA has again emphasised its

long-held belief that any new proposals

must focus primarily on increasing audit


ACCA believes that change is needed,

but that the successful reform of audit

is dependent on the implementation of

reforms across the wider reporting and

governance ecosystem.

Maggie McGhee, ACCA’s Executive

Director – Governance and author of

ACCA’s response says audit can ultimately

only meet the needs of the user if

reporting requirements also evolve to

meet their needs: “The responsibilities

and accountability of directors and audit

committees are critical and those who fall

short of these responsibilities must be held

properly to account.”



Plastic meltdown

MORE than seven million people in the

UK were left unable to use their debit

or credit card due to an IT or technical

system crash in the last year, according to

research from Which?. A survey of more

than 2,000 people found one in seven

respondents were left unable to use their

card due to an outage in the last year –

with half of them (49 percent) saying they

couldn’t pay for goods and services at the

point of sale as a result. Some one in 10 (11

percent) of those left unable to use their

card or make a payment told Which? they

suffered a financial penalty as a result

and the same proportion (nine percent)

said their credit score was damaged

because they missed a bill or payment.

Home and Away

A former customer services officer at

Stockport Homes Limited (SHL) has been

found guilty of unlawfully accessing

personal data. Wendy Masterson spent

time looking at anti-social behaviour

cases on SHL's case management system

when she wasn’t authorised to do so. She

accessed the system a total of 67 times

between January and December 2017.

Masterson pleaded guilty to unlawfully

accessing personal data in breach of

s55 of the Data Protection Act 1998 at

Stockport Magistrates Court.

New Ombudsman


BARONESS Zahida Manzoor CBE has

been appointed Chair of the Financial

Ombudsman Service. The appointment

was made by the FCA Board with the

approval of HM Treasury. Baroness

Manzoor will take up the role on 2 August

2019, succeeding Sir Nicholas Montagu

who is stepping down after more than

seven years in post. Baroness Manzoor

was appointed to the House of Lords in

2013, where she served as House of Lords

Government Whip and Minister. Before

joining the Lords, she served as The

Legal Services Ombudsman for England

and Wales and The Legal

Services Complaints


The Recognised Standard / / July/August 2019 / PAGE 7



Financial union

FINAL analysis of data collated by the EU

Federation for the Factoring and Commercial

Finance Industry (EUF) shows that in 2018

factoring and commercial finance volumes

in the EU grew overall by 7.9 percent to €1.73

trillion, 80 percent of which was domestic

business and 20 percent international. This

equates to more than €240 billion of funding

that is supporting around 220,000 European


Precision investment

DORSET-based engineering company,

Finetec Precision Engineering, has secured a

£100,000 funding boost from invoice finance

specialist, Gener8 Finance. Finetec Precision

Engineering was established in 1992 to

provide high quality precision components

at competitive rates. It specialises in CNC

Sliding Head Turning using Citizen machines,

machining small turned and milled parts,

with bar capacity up to 32mm diameter. The

owners turned to invoice finance as a solution

to free up cashflow, allowing them to accept

growing orders with confidence, as well as

invest in new materials and machinery.

Quality finish

BIBBY Financial Services (BFS) has provided

a £250,000 Invoice Finance facility to Thomas

Loughlin (Liverpool) Ltd, a high-quality print

finisher working with the UK’s finest printers

and globally recognised brands including

Nike, FIFA, Coca Cola and O2. The funding

will also help the business alleviate cashflow

challenges and allow it to consolidate its

market position in the North West. BFS was

introduced to Thomas Loughlin by PMD

Business Finance.

Asia report

TRADE credit insurer Atradius has published

an economic report on Asia, analysing the

risks and opportunities of trading within the

region. The Atradius Country Report on Asia

was prepared as an intelligence tool designed

to equip businesses with vital political and

economic insights as well as a performance

outlook across individual industries. The

report analyses the main Asian economies,

including China, India, Japan, Indonesia

and Vietnam and also features Malaysia,

Singapore, South Korea, Taiwan, Thailand and

the Philippines.

To read the Asia Country Report in full visit

CICM Essentials

RECENT briefings include details of the two

winners of the CICM Meritorious Service

Award, the Institute’s response to the HMRC

consultation ‘Protecting your taxes in

Insolvency’, and three bite-sized webinars on

credit and collections.

CICM chooses Shoosmiths

as new legal partner

UK law firm Shoosmiths has

been chosen by the Chartered

Institute of Credit Management

(CICM) as its new exclusive

legal partner for 2019-20.

CICM is Britain’s largest and oldest

recognised body for the credit management

industry, and the largest body of its kind

in the world. Together with Shoosmiths,

recognised market leaders in the field of

recovery solutions, it will be working to help

raise the profile and increase membership of

the CICM the length and breadth of the UK.

Paula Swain is one of three Shoosmiths

partners who will be driving forward the

partnership with the CICM alongside

Andrew Foyle (Edinburgh) and Jason Byrne


Paula, who leads Shoosmiths’ national

B2B debt recovery team from Southampton,

says that the CICM sets the standards of

professionalism in the credit management

industry: “The Institute is a byword for

excellence, so working more closely with

them makes absolute sense to us and will,

I believe, be great for both our respective

organisations. “Shoosmiths handles the

debt recovery for some of the UK’s largest

corporates so we have a shared outlook of

excellence and our UK-wide office network

maps exactly with CICM’s own scope of

operations. We have great hopes for the

tremendous synergies this represents.”

Sue Chapple FCICM, CICM Director

of Strategic Relationships, says she is

delighted to be working with Shoosmiths as

the CICM’s new legal partner: “We recognise

fellow enthusiasts when we see them,

and have been impressed by the energy,

ambition and spark of the Shoosmiths team.

For us, it’s one of those partnerships where

one plus one will definitely add up to more

than two.”

Philip King, Chief Executive of the CICM,

added his welcome: “Shoosmiths has a

deserved reputation for excellence and

its decision to become our exclusive legal

partner will be one that will be welcomed

across our membership.”

Shoosmiths is a national law firm

operating from a network of 13 offices, and

with client companies on every part of the

business growth cycle. The company is

a national market leader in business-tobusiness

debt recovery, providing advice

and recovery solutions to companies in

a wide range of industry sectors in all

legal jurisdictions of the UK. Its teams

work closely with credit teams to recover

commercial debts as quickly and efficiently

as possible; they also deliver a range of

consultancy services designed to improve

cash flow and to reduce cost.

“The Institute is a

byword for excellence,

so working more closely

with them makes

absolute sense to us and

will, I believe, be great

for both our respective


CIVEA to cease involvement

CIVEA, the Civil Enforcement

Association, will no longer

review complaints on behalf

of its members as part of

streamlining of the process for

complaining about enforcement agents


All complaints about enforcement

agents acting on behalf of local

authorities will go straight to the Local

Government and Social Care Ombudsman

for independent adjudication after local

processes have been exhausted.

The enforcement industry has been

the subject of scrutiny by the House of

Commons Justice Committee, which

identified a disparity between the

numbers of complaints recorded by debt

advice groups and industry groups. Debt

advice groups claimed that 2.2 million

people had been contacted by bailiffs

since 2014, who reported 850,00 cases of

rules being broken.

Industry figures show much lower

levels of complaints. CIVEA reviews

around 250 complaints each year and in

a survey, 22 enforcement firms processed

approximately 2,500 cases between 2014

and 2018. The Local Government and

Social Care Ombudsman upheld just 50

complaints in the last four years where

the bailiffs themselves were at fault.

Separately, the civil enforcement

industry is calling on the government to

establish a joint committee in the House

of Commons and House of Lords to review

the draft Public Service Ombudsman

Bill, which would provide a procedure for

adjudicating on public service providers,

including enforcement agents when

acting on behalf of public bodies.

Russell Hamblin-Boone, Chief

The Recognised Standard / / July/August 2019 / PAGE 8

UK Search claims ‘first’ in Open

Banking Solution

UK Search has claimed to be the first to

adopt Open Banking technology to help

customers in arrears to reach realistic debt

free solutions in a timely way.

With a customer’s permission UK Search

can now view bank account transaction

information to understand the customer’s

monthly incomings and outgoings, so an

informed decision can be made about what

repayments will be affordable.

Cliff Poole, Managing Director of UK

Search, said that customers often prefer to

avoid awkward conversations about their

personal finances: “Many of the customers

we engage with want to repay their debts,

but find themselves in financially difficult

circumstances. Talking about it can

become embarrassing and confusing.

“The Open Banking solution we have

developed and introduced allows us to work

with customers in a different way, to get

real accurate views on both their finances

and their circumstances. It becomes very


INTRUM and Tieto have extended their

partnership across the Baltic region to

modernise and automate credit management

services for Intrum clients and customers.

The deal will see Intrum deliver innovation in

areas such as digitalisation, analytics, robotics

and AI, through Tieto’s collection platform

Nova. Now with greater synergies between

its operations, and sharing resource, process

and knowledge, Intrum claims it can offer a

wider range of services with greater scalability.

Already deployed in Sweden, Intrum has

extended Nova to its businesses in Latvia

and Lithuania.

in bailiff complaints

Executive of CIVEA, believes the

changes will streamline the process

for complaints redress: “The expertise

and independent adjudication of the

ombudsman gives an impartial picture

of the scale of any problems in our

industry. Three trade associations, local

authorities, the courts service, the Local

Authority Civil Enforcement Forum and

the Local Government and Social Care

Ombudsman have all recorded low levels

of complaints.”

Michael King, Local Government

and Social Care Ombudsman says that

he supports any efforts to streamline

the current process: “We already provide

independent redress for complaints

about the recovery of local taxation and

parking debts by enforcement agents.

Where a firm is acting on behalf of a

local authority, their actions fall within

quick and simple and we can agree an

affordable programme of repayments.”

Cliff believes that a fair outcome can

be reached with most customers, often

by setting an affordable and sustainable

payment plan for those customers who can

afford to pay something and that way helps

them to get out of debt: “Open Banking

gives both parties the opportunity to do this

in the fairest way possible,” he adds.

Likewise, he says, Income & Expenditure

(I&E) cannot and should not be a substitute

for intuition or human instinct: “With the

help of Open Banking and the customer’s

permission collectors should know

instantly when an arrangement isn’t

suitable, through picking up the clues in

the conversation and by seeing for real

the customers true position. The need to

sign post free money advice or return the

account to the Client is made that much


our jurisdiction.

“Clear routes of redress are all the

more important for people who want to

raise concerns about debt issues they are

facing, so we strongly believe complaints

processes should be accessible, easy to

understand and simple to use. We expect

local authorities to ensure that they

have a clear process for dealing with

complaints when they contract services

out to enforcement firms, as we would

with any commissioned service. It’s

important this system is not protracted,

does not require people to go through

multiple complaints processes and also

ensures there is appropriate signposting

– including to our service – if a person

remains dissatisfied with the outcome of

their complaint.”

See interview on page 21.





new E-invoicing


THE UK government has implemented

an EU directive on electronic invoicing in

public procurement through The Public

Procurement (Electronic Invoices etc)

Regulations 2019.

A Procurement Policy Note (PPN) from

the Cabinet Office said: ‘Contracting

authorities and other contracting entities

(utilities) are now required to receive and

process supplier invoices that comply

with the technical e-invoicing standard

developed under the Directive.’

The requirements apply to central

government with immediate effect, while

local government and utilities have

until 18 April 2020 to comply ‘but may

voluntarily do so earlier’, said the PPN.

The Directive aims to address the use

of varied e-invoicing formats across the

member states through the introduction

of a standard. The varied formats cause

unnecessary complexity and additional

operating costs for businesses, public

contracting bodies and contracting


Quay Expansion

PHILLIPS & Cohen Associates, the

international deceased account

management specialist, is expanding

its UK operations. It has renewed its

existing lease on premises in Exchange

Quay, Manchester, and taken an extended

lease on an additional 4,200 square feet

on the same site. Nick Cherry, COO, said

the decision reflected the company’s

desire to grow both domestically

and internationally, and establish

the Manchester office as a centre of


End of lease

PETER Thomas has stepped down from

his role as executive director of the

Leasing Foundation to establish a global

network looking at the future of finance.

He will be working with many former and

current Foundation colleagues on a range

of issues that are beyond equipment and

asset finance.

The Recognised Standard / / July/August 2019 / PAGE 9


Solid Foundations

Phil Andrew speaks to Sean Feast FCICM about his first

full year as Chief Executive of StepChange Debt Charity.


clients contacted us




Debt relief orders set up




clients completed a

debt advice session




of debt repaid by our clients



Phil Andrew


clients started a

managed solution




written off with our support


became debt free with

our support





THE need for debt advice

in this country is growing

– and growing rapidly. By

2022 it is estimated that

more than two million

people in the UK will need

debt advice every single year. At present

the entire debt advice sector has the

capacity to help less than one million


Phil Andrew believes there is a moral

obligation to meet the needs of those

struggling with problem debt; it’s why

he’s set out ambitious plans to double the

number of people StepChange can help:

“Inextricably linked to this,” he says, “is

the need to help people before they fall in

to crisis and also to ensure we continue to

provide consistent advice, of the highest

quality, at a cost that allows us to help as

many people as possible with the limited

funding we receive.”

In its latest impact report, published in

May, StepChange revealed the huge strides

it is taking towards helping more people,

reflecting also on the people it has already

helped, how they have been helped, and

what steps it is taking to build a more

effective and efficient organisation.


In 2018, Phil says that StepChange helped

more people than ever, with 657,930

people getting in contact – someone every

48 seconds.

“And we continued to offer that support

right from the first contact through to

someone becoming debt free,” he says.

“We also kicked off a landmark new

We reduced our

client advice cost by


We supported the

development of the Single

Financial Statement (SFS)

major policy

4 wins

influential research

8 and data reports

Our partners referred


clients to us for

telephone advice

initiative to track what difference debt

advice makes. This looks at the wellbeing

of our clients on various measures at

different times after receiving debt


Its initial findings set out the real areas

where it has a significant positive impact

for its clients and looks honestly at where

debt advice is less effective, particularly

noting less positive results for vulnerable

clients with negative budgets.

Government introduced the

No Interest Loan Scheme pilot

major FCA interventions

4 matching our goals

We continued to collaborate

with Citizens Advice and

Business Debtline to direct

clients to the right advice

provider for their needs

We continued

to develop our

customer relationship

management system

(CRM) to better

serve our clients

10 consultation


Parliament legislated for

Breathing Space within

the Financial Guidance

and Claims Act 2018

“As a charity we have a responsibility

to manage our money effectively and

efficiently,” he continues. “We want our

partners and funders to have complete

confidence that their contributions are

having the greatest impact possible.”

What is clear, he believes, is that the

sector is significantly underfunded. “In

2018 we’ve been leading conversations

around Fair Share contributions

whilst also calling for an effective and

The Recognised Standard / / July/August 2019 / PAGE 10



sustainable funding model for the debt

advice sector that enables us to meet

growing demand.

“We’ve also worked tirelessly to reduce

our own costs. We’ve been able to reduce

our own client advice cost by 4.2 percent,

allowing us to provide advice to more

people without growing our overheads at

comparable rates.”

Phil says that partnerships are

important: “We want to work in

partnership where we can. We know

that working together can amplify our

voice and our impact. That’s why we’ve

continued to collaborate with partners

across the sector. We also received more

than 150,000 client referrals directly to

our services from partners across the

financial industry – so it is clear just how

important collaboration is.”


visits to our website*


subscribers to our

DMP newsletters

Launched our new

Persistent Debt

advice services

* We’ve changed the way we measure web visits in line with industry best

practice: we now only count a web visit when a person has viewed one of

our pages for at least 30 seconds.


views of our debt

information and advice

website pages


unique visits to MoneyAware

our debt advice blog

50% 36

growth in unprompted


brand awareness releases


increase in website

visits since 2017


The charity’s debt advisers were busier

than ever in 2018 but, Phil explains, his

team has also continued to develop its

work to tackle the causes of problem debt

and to influence government policy in

Westminster, Holyrood and the Senedd.

Last year, it published no fewer

than eight influential reports and ten

consultation responses, as well as

registering major policy wins.

“Our campaign for a ‘breathing space’

scheme has spanned many years, but it

reached its apex in 2018 as the government

formally included such a programme in

the Financial Guidance and Claims Act

2018. We’re continuing to campaign to

shape exactly what the scheme will look

like when it’s implemented and have

lobbied hard to make sure it’s at the best it

can be on delivery.

“Our campaign to reform the poor

behaviours we’ve witnessed in the bailiff

industry led to the announcement of a

call for evidence by the Justice Select

Committee. We also saw the launch of a

feasibility study on a ‘No Interest Loans

Scheme’ in the 2018 Budget, a key priority

in our work towards encouraging the

creation of affordable alternatives to high

cost credit. And the FCA acted on several

fronts to tackle unsustainable credit,

reflecting campaigns we have undertaken,

for example on overdraft fees.”


Raising awareness of problem debt across

society continues to be a major challenge,

and one that Phil is not shy to address: “In

2018 we saw 5.2 million views of our debt


mentions on

TV and radio

information and advice web pages, with

over three-quarters of a million unique

visits to our MoneyAware debt advice

blog, and over 145,000 subscribers to our

DMP Newsletter.

“And we’re getting the message out

there more widely too. Helped by nearly

2,000 media mentions of the charity, we’ve

grown both our online presence and brand

awareness, with a 22 percent increase in

website visits, and a 50 percent increase in

unprompted brand awareness.”

StepChange’s core aim is to work to

support people earlier with their money

worries: “We launched a pilot persistent

debt initiative, looking to support those

contacting us who may not be in problem

debt yet, but have been directed to us due

to being identified as part of the FCA’s

new persistent credit card debt rules.”


Phil says that being on the frontline of

debt advice can be tough. Ensuring that

his staff feel rewarded for their hard work

and dedication remains one of his key

objectives, as well as supporting them to

reach even higher levels of achievement.

“Our single greatest resource is our

people, and with a workforce of more

than 1,500 spread out across eight cities





pieces of press coverage

in the UK, it’s vital that we listen to our

colleagues and their feedback. We spent

2018 engaging with colleagues through

townhall meetings, roadshows and

feedback forums, to better understand

how we can recruit and retain the kinds

of people we need for the future.

“Between more than 11,000 hours

of employee training and the launch

of our first ever graduate programme,

we’re working hard to develop skills and

development opportunities,” he adds.


Last year, Phil says, was a real year of

change at StepChange: “I’m enormously

proud of some of the foundations that

we’ve laid on the way to preparing

ourselves for the future of debt advice.

While we’ve made great progress towards

our goal of doubling the number of people

we can help, I know that we have much

more to do.”

On the wall outside Phil’s office in Leeds

is the charity’s vision: to build a society

free from problem debt. “That might feel

like a lofty aspiration,” Phil concludes,

“and I certainly can’t promise that we’ll

achieve that by 2022, but I can promise

we’ll continue to have the greatest impact

we can to help those who need it.”

The Recognised Standard / / July/August 2019 / PAGE 11


Shallow Dive

Referrals to the Pre-Pack Pool have taken a

disappointing dip.

THE Pre-Pack Pool (The Pool), as

readers will recall, commenced

operations in November 2015 as

part of the amendments to SIP

16 recommended by the Graham

Report of 2014.

The concept, supported by the Insolvency

Practitioners Regulatory Bodies (RPBs), The

Insolvency Service (IS), CICM and other

Creditors bodies, all of whom are stakeholders,

was that an independent body of reviewers

would give an opinion as to the reasonableness

of a connected party Pre-Pack.

Connected party Pre-Packs had, at the time

of the report, drawn criticism for being in some

cases perceived as merely a debt dumping

exercise leaving unsecured creditors and often

pension funds out of pocket.

The Pools’ remit was to examine such cases

and report on them, but the whole system is

voluntary with applications coming from the

acquirer not the IP. This voluntary system is set

to be reviewed by the IS this year in advance of

the Governments’ deadline of May 2020 when it

will decide whether to continue with a voluntary

system or perhaps set regulatory (mandatory)

parameters for referral to the Pool, or even ban

the practice.


As at December 2018, three years and two

months into its existence, The Pool had reached

its century (100 cases.)

In our first 14 months we had 53 referrals

(approx. 24 percent of ‘eligible’ cases.) In 2017

and 2018 referrals were 23 and 24 respectively

representing approximately ten percent of

eligible cases. The first quarter of 2019 has seen

six cases referred.

This disappointing downward trend in

referral rates is something we at The Pool are

keen to understand. Is the low rate as a result of

a lack of interest from those creditors affected by

Pre-Packs or simply that directors see little point

in approaching us, if there are no sanctions for

not doing so?

We still await

any update on

whether the


wish to act

under its ‘sunset

clause’ to make

referral to a


reviewer (such

as The Pool),


We have seen active interest and action taken

by some major creditors in contentious cases,

notably by the Pension Protection Fund (PPF),

but this is a notably rare event. However, in

general there seems to be little interaction with

the general body of unsecured creditors even

though they have most to lose.

Mention of the PPF is a reminder that we do

have a significant supporter in Frank Field MP,

Chair of The Work and Pensions Committee in

Parliament. He along with Sir Vince Cable has

been lobbying for compulsory referral in the

light of high-profile cases such as House of

Fraser and Johnston Press but these Pre-Packs

were not ‘connected’ in the strictest sense.

(House of Fraser was sold to a third party and

Johnston Press to its lenders).


The Insolvency Service has now released its

‘2018 Annual Review of Insolvency Practitioner

Regulation’, which includes a section regarding

Pre-Packs. There were 450 SIP 16 reports (i.e. all

Pre-Packs), advised to The Service, of which 241

covered sales to connected parties, confirming a

referral rate of ten percent.

In terms of the specific review of Pre-Packs,

the report found that while Pre-Pack sales ‘were

a useful business rescue tool’ there was evidence

of ‘less successful outcomes’ where the sale was

to a connected party. The Government hopes to

be able to publish its findings from the review

shortly. We still await any update on whether the

Government wish to act under its ‘sunset clause’

to make referral to a third-party reviewer (such

as The Pool), mandatory.

In other developments, as in the Johnston

Press and Interserve cases I feel a new process

is being developed. That of the ‘secured lender’

Pre-Pack. The latest example being Debenhams.

Having secured a new tranche of secured

lending they have now completed a Pre-Pack

whereby the lenders have acquired the business.

Stuart Hopewell FCICM is a director

Pre-Pack Pool Ltd

BRENDAN Clarkson FCICM, insolvency

expert at insolvency and restructuring

firm CVR Global, is calling for it to

be compulsory that every pre-pack

administration is analysed by the Pre-

Pack Pool. He said: “Bypassing the Pre-

Pack Pool is a missed opportunity for

all stakeholders involved in a pre-pack

administration as it offers peace of

mind and clarity for all involved – the

recent fall out between Debenhams

and Mike Ashley only reinforces this


“And while Debenhams’ deal is

legitimate, is it in the best interests of

landlords, suppliers and employees?

This is why when the Government

reviews the system in May 2020, we

will be supporting calls for it to be

compulsory for every Pre-Pack to

be referred to the pool before it can


“People such as Chair of The Work

and Pensions Committee Frank Field

MP along with Sir Vince Cable are

backing the stance to make referrals

to the Pre-Pack Pool compulsory when

the Government reviews the system in

May 2020, where they could even end

up banning the practice totally.”

The Recognised Standard / / July/August 2019 / PAGE 12


Deemed consent

IPs hold the pivotal role of bringing together all

stakeholders and providing them with the ability to

make informed decisions.

AUTHOR – Michelle Thorp

Michelle Thorp

IN last month’s article, I discussed

our work with HMRC on its

planned move to reinstate itself as

a secondary preferential creditor

in insolvencies and the protection

we think those creditors behind

HMRC in the planned new hierarchy

should be afforded. This month, my

focus returns to the IPA and our view on

the important and sensitive matter of

deemed consent and decision procedures

in insolvency proceedings, number six

of our Statements of Insolvency Practice

(SIPs). Our SIPs set out required practice

and harmonise insolvency practitioners’

(IPs’) approach to particular aspects of

insolvency practice. They apply in parallel

to the prevailing statutory framework.

Recently, following the introduction

of the new Scottish insolvency rules on 6

April 2019, Scotland has been included

in SIP 6, joining England and Wales and

thereby making the SIP a UK-wide one.

Scottish IPs now work under this SIP in the

same way as those in England and Wales.


Sections 246ZF (corporate insolvency)

and 379ZB (personal insolvency) of the

Insolvency Act 1986 detail the deemed

consent procedure – these were inserted

into the Act by the Small Business,

Enterprise and Employment Act 2015. Rule

15.7 of the Insolvency Rules 2016 also sets

out the procedure.

By definition, deemed consent is the

process by which certain decisions can be

made on behalf of creditors in insolvency

proceedings. It’s one of several decision

pathways in insolvency, the others being

correspondence, electronic voting, virtual

meeting, physical meeting and any

other suitable procedure that allows all

concerned to participate fairly.

Under deemed consent, the following

must be communicated to creditors and/or

contributories: the proposed decision and

surrounding matter to which it relates; if

less than ten percent of the applicable

creditors and contributories object to

the decision, the decision in question

will be made as a result; if more than

ten percent object, it is not made; if the

concerned parties seek the same decision,

a qualifying decision procedure must be

used; and the procedure for objecting to a

proposed decision must be adopted.

Deemed consent is likely to be used

when appointing a liquidator, though a

virtual meeting can also be called – as can a

physical meeting, if more than ten percent

of creditors object

to the appointment

of a liquidator, or if

creditors feel a physical

meeting is required

(this must take place

within 14 days of the

objection being made).

It’s important to

note that remuneration

can’t be decided by

deemed consent, and

the Insolvency Act

and Insolvency Rules also state when a

decision must be made not by deemed

consent, but by one of the other decision

procedures. Another key area of insolvency

where deemed consent doesn’t apply is

the approval of both Company Voluntary

Arrangements (CVAs) and Individual

Voluntary Arrangements (IVAs).

I recently wrote about the work

we’ve done to strengthen regulation of

volume providers of Individual Voluntary

Arrangements (IVAs). The mass decision

making processes common to this type of

insolvency proceeding forms a significant

aspect of our basis for enhancing our

regulation in this area. It’s of course

paramount that in an environment that

processes a considerable number of cases,

consent is made certain.


IPs hold the pivotal role of bringing

together all stakeholders concerned with

The window for

responses, in cases

in which deemed

consent applies,

terminates after

the final minute of

that day.

making decisions and providing them with

the ability to make informed decisions.

This is, of course, essential to maintain

trust and confidence in insolvencies, from

both a creditor and debtor point of view, as

is the timely facilitating of participation.

Requests for additional information

should be considered individually by the

IP, based on their merits, and treated fairly

and reasonably. Any additional information

provided should be proportionate to the

case’s circumstances.

Record keeping in this area is also

important. Accurate and contemporaneous

records of deemed consent and decision

procedures must be kept by the IP for

reference and sufficiently explain the

business conducted and the basis upon

which any discretion was exercised.

The window for

responses, in cases

in which deemed

consent applies,

terminates after the

final minute of that

day. In my mind, a

possible future change

to this would be to

bring the window

in line with office

hours in order to keep

things progressing as

efficiently as they can.

It’s important to note that creditors bear

the responsibility to instigate change to

proceedings if they have any objections

or require a meeting. Following the 2017

insolvency rules, which introduced a

move to reflect modern business practice

in the insolvency industry, allowing

electronic communication with creditors

and removing the need to hold physical

creditor meetings, more responsibility

was placed upon creditors to act quickly

to protect their position in insolvencies.

When you also consider the discrepancies

around when deemed consent applies,

the need for all concerned parties in

insolvency to be aware of this sensitive

procedure and its correct use appears all

the more apparent.

Michelle Thorp is CEO, Insolvency

Practitioners Association.

The Recognised Standard / / July/August 2019 / PAGE 13


On Your Feet

Honouring those who have dedicated their

lives to the cause.

AUTHOR – Pete Whitmore FCICM

Pete Whitmore FCICM

WHAT do Terry

Pratchett, Winston

Churchill and Gloria

Estefan have in

common? Well, at

face value not a great

deal, but they have each provided me with

a degree of inspiration when deliberating

about how to shape this column.

I recently watched the first episode of

‘Good Omens,’ which was penned by Sir

Terry nearly 30 years ago and it started

me thinking about what good omens we

see in the world of credit management. I

suppose that all too often we focus on the

negative signs out there; who hasn’t paid

me, who is giving me the run around (why

does that word always evoke memories of

the dulcet tones of Mike Reid) and who is

still drawing down dividends even though

they are making losses each year? Those

are valuable and vital considerations,

but we should try to balance them with

the customers who always pay on time

and those who continue to leave profits

in their business and grow. Those are the

customers that we should focus upon and

understand how we can add value to their

business, because that will only bring

increased value back to our own. I am

not suggesting that we ignore those non/

late paying customers as they will soon

drain your cashflow, but let’s not miss an

opportunity by expending all our energy on

them. Let’s look for the good omens.

But how does that relate to Sir Winston?

I was lucky enough to attend the CICM

Fellows’ Celebratory Lunch this year,

which was held in the Churchill War

Rooms. They opened for service around

the same time that Cuthbert Grieg started

the ICM as it was then. The tour itself is

awe inspiring and it allows you to visualise

what it must have been like to manage the

forces of long forgotten regiments, rusted

ships and now disused airfields (that one’s

for you, Sean). During the course of the

day we were treated to hearing about those

individuals who had been selected to be

part of the inaugural ‘Fellows of the Future’

scheme. It set me thinking about how I

wish there had been something like that

when I set out in my own credit career; the

nearest thing would have been informal

mentoring, but even that is nothing like

the valuable mentoring scheme that exists

with the CICM today. I would urge you to

get involved as a mentor or alternatively

take advantage of the extensive experience

and business knowledge that exists

within our membership. I was also given

the honour of presenting this year’s

Meritorious Service Awards to Gary Baker

and David Kerr; two very worthy recipients.

In an underground environment where

people had to battle against adversity just

to survive, it felt pretty poignant that we

were there recognising the past, present

and future of the credit industry.

That just leaves Gloria; where can she

possibly come in to the equation? I went

to see the biopic musical of her life, ‘Get

on your feet!’ and loved it, but the lyrics of

the title track struck a chord with me. ‘Get

on your feet and make it happen!’ If that is

not a sentiment to which you can live your

life, I’m not sure what is. Gloria certainly

did that after suffering horrendous injuries

in a coach crash. I suppose I’m trying

to say that if you want something badly

enough you need to go out there and make

it happen. If you want to change the way

your customers behave, go out and educate

them in how you can help them. If you

want to grow as a credit professional, go

out and explore the opportunities available

to you; there are a plethora of ways we can

help you with the many resources of the

CICM. Be an ambassador and spread the

word about our wonderful Institute and

profession. Get on your feet and make it


Pete Whitmore FCICM is Chair of the

Chartered Institute of Credit Management.

The Recognised Standard / / July/August 2019 / PAGE 14





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The Recognised Standard / / July/August 2019 / PAGE 15



Sean Feast FCICM catches up with

the founders of Court Enforcement

Services (CES).



When Daren started,

Frank jokes, “…he

couldn’t collect pebbles

off a beach…” and yet

now is the managing

director of one of

the fastest growing

businesses in the High

Court Enforcement


Daren Simcox

IT’S Friday morning, and a quick-ish

punt from home around the M25 sees

me arrive at the back of an industrial

estate in Essex. On the other side of a

pedestrian passageway are the offices

of Court Enforcement Services (CES),

and I mustn’t be late. One of the founding

directors, Daren Simcox, has delayed his bank

holiday weekend travel plans to accommodate

me, so in the end I’m early.

Frank Millerick, the company Chairman, is

at the door to greet me and I am shown into

the boardroom where we are joined by the

last of the trio, Wayne Whitford. With all of

the founders in the room at the same time,

I’m beginning to wonder if I am interviewing

them, or are they interviewing me?

Between the three of them, they have well

over 100 years’ experience in High Court

Enforcement. Frank has seen the Enforcement

profession from all sides; for ten years he was

a Justice of the Peace and is a former chairman

of one of the industry associations that started

to lobby for change that has led to recent

amendments to enforcement legislation.

Daren has been a Certificated Enforcement

Agent for more than 30 years and is justifiably

proud of how far the business has come in a

comparatively short space of time. Wayne has

worked in enforcement and debt collection –

including doorstep collections – for almost 30

years and, it should be noted, is a Fellow of the

Chartered Institute of Credit Management.


The Chemistry between the three men is

immediately apparent. There is a confidence

and a trust that comes from building a

business together. When Daren started, Frank

jokes, “…he couldn’t collect pebbles off a

beach…” and yet now is the managing director

of one of the fastest growing businesses in the

High Court Enforcement sector.

Since the business eventually emerged

through a Management Buyout (MBO) five

years ago, it can now claim a £10 million

turnover and something like a (25 percent)

market share. In the calendar year for 2018

it served c20,000 writs – up from 18,000 the

previous year when it was officially listed as

number two in the Ministry of Justice (MoJ)

league table. Since the start of this year (2019),

it has already served 15,000 writs, and keeps

growing. Last year they collected c£35 million

for their clients.

“When we started the business,” Daren

explains, “we decided to focus on Writs. Others

have taken a more scatter-gun approach, but

we agreed that we wanted to be good at one

thing and to be known for it. We now work

for four of the big six energy and utility

companies, as well as the largest property

management company in the UK.”

My visit coincides with a number of

major changes being mooted in the industry,

including the call for independent regulation

of Enforcement Agents. Daren believes the

The Recognised Standard / / July/August 2019 / PAGE 17

continues on page 18 >



lack of transparency is a concern: “The industry is

currently self-regulated but that means if there is

an issue, our conduct is judged by our peers. Is that

fair?” he asks. Frank agrees: “It’s like MPs voting for

their own pay increases,” he says. “Our industry is a

professional industry and should be independently



One of the hot topics of the moment is the wearing

of body cameras, and whether this should be

compulsory. “The police, the ambulancemen, and

parking attendants are all wearing them now and we

think having video evidence is a good thing,” Wayne

says. Daren concurs: “An allegation was made recently

against one of our agents and the video evidence

proved all of those allegations to be false. We also use

some of the video footage to train our staff.”

The three men agree that the system can be open

to abuse; Enforcement Agents have been known to

switch their cameras off, but this is the exception

rather than the rule. Video footage also does not always

tell the whole story but at least it’s a start: “It gives us

another way of measuring performance and that has

to be a good thing,” Frank adds. And Daren agrees: “It

reduces the number of complaints we are likely to see

and it also enables us to monitor the performance and

behaviour of our own self-employed agents.”

Another burning issue is a proposal to remove the

current rules that disallow a County Court Judgment

of less than £600 to be transferred to the High Court.

At present, for debts below £600, a creditor is obliged

to request a warrant of execution (at a further cost

of £110) for a county court bailiff (i.e. a civil servant

as opposed to a certificated professional) to enforce.

“You can have little confidence you will ever get your

money back,” Daren explains. He advocates that this

limit should be removed: “It should be the creditor’s

choice whether this debt is transferred to the High

Court,” he says. As Frank adds: “It is one of those

absurd historical anomalies.”

When a debt of more than £600 is transferred, CES

charges a fixed fee of £75 (in accordance with the

Taking Control of Goods Act Fee Regulation 2014) for

enforcement, and gives the customer (i.e. the debtor)

a period of 14 days in which to pay the debt in full or

come to an arrangement. (“The standard period is

seven days but we allow more for postage and receipt,

and to take into account weekends,” Daren says.)


The success or otherwise of enforcement varies

depending on the debt type. Commercial debts tend

to be the most successful, and for some debts, the

success rate can be as high as 99 percent. When

contracts are shared, CES is constantly the highest

performer. Wayne says this is due largely to the quality

of people they employ; Daren agrees, and says that it

comes down to treating every Writ in the same way:

“Our ‘paid in full’ rates are the highest in the industry,

and we are very proud of that,” he adds.

Success is not only down to the quality of people

or its focus on a particular part of the enforcement

industry. It is also about how CES has been quick to

Frank Millerick

Wayne Whitford

The Recognised Standard / / July/August 2019 / PAGE 18



embrace and develop new technology.

Enforcement agents are now able to

interact through an award-winning App

which has significantly improved the

experience for the agent and customer

alike. Instructions, documents and

photographs can be seen by the agent

on the App in real-time: “The complete

history of every case can be seen by the

agent through the App,” Wayne explains,

as he shows me an example on his

mobile. The level of information and

data available is impressive, and the App

also gives the agent the opportunity to

take card payments or request additional

information, for example, from the DVLA.

There is a client portal too, to give clients

total visibility of every case.

Court Enforcement Services is

certainly a progressive business and not

one to rest on its laurels. Staff retention

levels are impressive – its current Ops

Director actually started with the three

directors when he was 19 and is now in

his thirties – but it is always looking to the

future. It is proud not simply of ‘churning’

existing business, but actually expanding

the market: “In our first full year we

served 6,000 Writs,” says Daren, “but

many of these were not what you would

consider ‘traditional’ Writs. Many were

from ‘new’ customers thereby creating a

new market.”


Visibility of their sector has been

enhanced through various ‘fly-on-thewall’

documentaries on television, but

these are both a blessing and a curse.

“They are positive in that they have raised

the awareness of High Court Enforcement

as an option open to creditors,” Frank

says. Wayne agrees: “Sometimes people

call us and say that they’ve seen us on TV!”

The problem that Daren perceives is

the intrusive nature of the programme

on the customer: “Our job is to execute a

court order and that is the end of it. It is

not our job to then offer on camera our

personal opinions as to the rights and

wrongs of the customer’s circumstances.”

So what next for the team at CES?

In 2018, the directors sold part of the

business to JBW, a larger collections and

enforcement business, although CES still

retains its independence. “Being part of a

bigger group gives us a huge opportunity

for future growth,” Daren says.


The landscape for Enforcement is likely

to change with the introduction of a new

independent regulator, but the team

only see this as a positive step. It has

always taken complaints and compliance

seriously and believes that professional

businesses could benefit from the

changes being proposed.

“The three people in this room have

collectively done as much as any to

promote professionalism within our

industry,” Frank adds.

The business started out as a boutique

– an approachable, customer-centric

business that puts relationships at the

very heart of what it does. It has very

much ‘grown up’ as a business and is

never afraid to try new things. Daren is

particularly excited about a new ‘Brand

Sound’, though what this will finally look

and sound like appears as much a mystery

to his fellow directors as it does to me!

Court Enforcement Services goes

above and beyond the ‘traditional’, with

skill-sets and experience that are core to

its success.

This, they are all agreed, will never

change: “The market will continue to

grow, creditors’ choice will improve, and

online decision making will increase the

volumes of judgments being referred to

the High Court,” Daren concludes.

An allegation was

made recently

against one of our

agents and the

video evidence

proved all of those

allegations to be

false. We also use

some of the video

footage to train our


The Recognised Standard / / July/August 2019 / PAGE 19







The Recognised Standard / / July/August 2019 / PAGE 20




Sean Feast FCICM speaks to Russell Hamblin-Boone

about civil enforcement, dealing with vulnerability, and

the challenges of landing a 22-pound Pike.

RUSSELL Hamblin-Boone

has never been one to

shy away from what he

jokingly calls ‘issues-rich’

briefs, and as the current

Chief Executive of the

Civil Enforcement Association (CIVEA) he

certainly has a number of issues to juggle.

With the imminent publication of the

Ministry of Justice’s response to its call for

evidence, and the launch of CIVEA’s new

Code to complement the creation of a new

Compliance Board and revised complaints

procedure, he is a busy man. He is also

aware that he has unintentionally been

characterised by some in the media as the

standard-bearer for some of the business

UK’s more controversial briefs: “I am not

sure if I have followed crises around or

they have followed me,” he laughs. “And

I was not sure whether to be flattered or

insulted by once being referred to by James

Moore in the Independent as ‘a disturbingly

effective lobbyist’ when I was making a

case for high-cost credit!”


It all seems a long way from the small boy

who grew up on a farm in Hampshire.

Growing up in the countryside, it might

have been expected that the young

Russell may have pursued an outdoors

career: “There was a trout farm on one of

the farms that we lived, and for a time I

thought of becoming a Fishery Manager,

but not getting high enough grades at

Chemistry and Maths it was not to be.”

Instead, on leaving college Russell took

leave of his idyllic rural surroundings to

head for the bright lights of Basingstoke,

where he quickly found employment

in the Civil Service. “I was young, living

in a big town, and needed money,” he

explains. “My mother suggested the Civil

Service and so I joined the Civil Service

Commission as an office adminstrator.

The Commission was part of the Cabinet

Office and a typical sausage factory;

everything was still dependent on pen

and paper, copied in triplicate and letters

were prepared in a typing pool.”

Encouraged through promotion to

move to London, Russell joined the Chief

Whip’s Office, working from Downing

Street: “It was just at the time that John

Major had lost his majority as a result

of revolt by the Euro Sceptics,” he says,

his comment heavy with irony given the

Conservative Party’s current predicament.

“I was also there during the transition to

the new ‘New Labour’ government and

very much enjoyed the ‘cut and thrust’ of

the role. It is an overtly political office so as

a civil servant I had a unique opportunity

to earn my parliamentary spurs.”


After over four years in the Whip’s Office,

and with an ambition to be a Private

Secretary, Russell joined the Attorney

General’s Office, working closely with

the Solicitor General, Lord Faulkner.

This was the time of Kosovo and the

Omagh bombings, and a febrile political

environment. Concurrently he took

on a further role with Baroness Jay, as

Assistant and then Private Secretary to the

Leader of the House of Lords, Lord Privy

Seal and Minister for Women during the

passage of the Lords reform Bill. He took

justifiable pride in being one of the few

private secretaries who had not been fasttracked

out of Oxbridge.

With 14 years of Civil Service experience

under his belt, Russell understood that

detailed knowledge of Whitehall and

the machinations of government were a

priceless commodity: “Having a solid Civil

Service background and quality training

has served me well throughout my career,”

Russell explains.

Now with a young family, and having

moved to the West Country, Russell began

looking for a change in direction, and a

shift from the public to the private sector.

Spotting an advertisement in The House

magazine for the British Retail Consortium

he applied, and was successful, joining

the BRC as its Parliamentary Officer in

December 2000: “The transition from

public to private can be a difficult one,”

Russell concedes, “though the journey

can be eased by first working for a trade

association where my knowledge of

Government was seen as an asset.”


Russell’s arrival was followed soon after

by a crisis of significant proportions –

the outbreak in 2001 of Foot and Mouth:

“It had a devastating impact not only on

the UK farming community but also the

grocery and wider retail sectors,” Russell

says. Russell’s time was also marked by

a happier incident in which he played a

leading role, the introduction of the first

free ‘proof of age’ scheme for younger

people, a scheme that is still very much

alive and well today.

By December 2003, Russell had become

Head of Public Affairs and was presented

with his next opportunity. He was asked

to help establish a new trade association

for the energy sector, the Energy Retail

Association (now Energy UK). His CEO

and mentor was Duncan Sedgwick, a

former senior executive at Powergen, and

the organisation was starting from the

The Recognised Standard / / July/August 2019 / PAGE 21

continues on page 22 >



ground up: “I remember we started in an

office no bigger than a broom cupboard

and on the first day I had to go around and

blag some laptops to get us operational!”

Russell soon had his hands full dealing

with media and politicians, as well as

various lobbying groups: “Fuel poverty

and climate change were both issues that

had by then become topical and excited

the politicians and the press, and after the

first hike in gas prices since privatisation

I found myself dealing with yet another


Again, however, this period of change

and uncertainty was balanced with more

positive initiatives, not least the planned

introduction of Smart Metering by 2020,

an issue that Russell felt passionate about.

As Director of Corporate Affairs he played

a key part in lobbying government for

a mandate for a nationwide roll out of

smart meters, as well as campaigning to

raise awareness of the dangers of carbon

monoxide with the transition from Corgi

to Gas Safe.

With the departure of Duncan Sedgwick

in 2008 and the arrival of a new CEO, he

sought to widen his skill sets: “Although

I had experience in media relations as

well as public affairs, I wanted something

more specifically comms related on my

CV,” he explains.


As Head of Communications for the

Finance & Leasing Association, Russell

found the perfect role: “I positioned

communications as a core function of

the Association and doubled our media

exposure in the first 12 months. Working

with the FLA gave me real coalface

experience and understanding of how

to work with journalists and the media

covering Financial Services.”

After three and a half years at the FLA

he was approached to take on an even

more challenging role as CEO of the

Consumer Finance Association – home of

the payday lender.

“Payday lenders were disruptive, techbased

start-ups, usually with US backing,

who took a very different approach to

Financial Services,” he explains. “I quickly

found that it was a vibrant, energetic,

ambitious industry where there was a

clear demand for its product, but where

they hadn’t quite worked out how to work

with the UK Government and so there was

a culture clash.

“Their advertising style was brash and

typically American, and they began by

trying to force-fit their US model into the

establishment of UK finance and there

was understandable resistance from the

big players. The emergence of payday

was a response to the credit crunch,

which was set in the context of a creditdriven

society that was struggling to offer

lending options to all but the most creditworthy


Russell’s brief was open; he was

tasked with creating a fully-fledged trade

association and immediately set about

finding an office and building a top team

to help his members navigate through the

political and media storm that followed.

He likens the reaction to the launch of the

first mobile phones:


“When mobiles were first introduced,

there were scare stories that a mobile

would fry your brain, or that mobile masts

would send damaging electro-magnetic

fields into your living rooms. Then

consumer power turned the tide, and

people started asking for more masts to be

built so they could get a better reception.

“The problem is that all of the time the

regulators are playing catch up, especially

with new and emerging markets and this

is precisely what happened to pay day

lending. The regulators squeezed the

fledgling industry so hard that they almost

squeezed the life out of the sector. But we

had to go through the storm to come out

the other side in better shape and with a

smarter product.”

Russell’s role was the public face of the

industry and he defended lenders against

a range of detractors. It was challenging

to say the least. He identifies the current

concern as the aggressive approach of

Claims Companies who see the alleged

‘mis-selling’ of payday loans as a cash cow

for their own industry.

“What we forget,” Russell says, “is

the creative thinking and innovative

The Recognised Standard / / July/August 2019 / PAGE 22



“There was a trout

farm on one of the

farms that we lived,

and for a time I

thought of becoming

a Fishery Manager,

but not getting high

enough grades at

Chemistry and Maths

it was not to be.”

technology that many of these high-cost

credit providers brought to the Financial

Services community, especially when it

comes to assessing affordability. There

are many unicorn start-ups that have also

done well out of the payday firms that

were early adopters of new technology.”

After almost five years at the CFA,

Russell accepted his current job as CEO

of CIVEA. Many of the issues he managed

at the CFA apply in the world of civil

enforcement, not least the emerging

popularity of affordability assessment:

“It is interesting that few if any Local

Authorities carry out affordability checks

on their customers before enforcing a

debt,” he says.

“When a Local Authority instructs an

agent, it is at the end of the collection

process. The council has been unable to

engage with the debtor and has gone to

court. That is the social justice system in

action. The enforcement rules are there,

and they are prescriptive, which involve

seizing someone’s belongings for sale

at auction. The rules do not say that the

enforcement agent must agree a payment

arrangement. It is not in the regulations,

and sometimes it is not even at an agent’s


“The agent acts on behalf of the Local

Authority and it is not always up to him or

her how to respond to vulnerable debtors.

Different councils have different policies

on this matter, though it is interesting how

Local Authorities are often conspicuous

by their silence on the subject. It is much

easier simply to blame the agent for not

being more lenient.”


Vulnerability, Russell knows, is a big issue.

“Today, the word ‘vulnerable’ has become

desensitised; it is used liberally by people

to exempt themselves from paying tax.

Local Authorities demand evidence that a

debtor is vulnerable; they will not take it

on the say-so of the agent.”

But, he says, that again is both a

challenge and a contradiction: “Our

members want to support the genuinely

vulnerable but are not always able to do

so without the requisite evidence.”

He says his members recognise that

the majority of debtors are not wilfully

avoiding paying their Council Tax, for

example, but that the issue is being looked

at from the wrong end: “Some 97 percent

of Council Tax is collected, and that is the

envy of the world,” he explains. “But it is

far too simple to say that the remaining

three percent are all vulnerable. It can

be much more complicated. The more

pertinent debate is whether the Council

Tax model is still fit for purpose but it

would not be politically expedient for any

government to raise this issue.

Russell is wary of complaints raised by

the debt advice sector and other pressure

groups, but is not afraid to confront their

accusations robustly: “I am not afraid of

going head-to-head but will always do so

with mutual professional respect and an

absolute conviction that I believe what I

am saying. The enforcement process is

fundamentally sound. In my experience

when certain parties complain, they are

actually usually expressing a dislike of the

rules, and not whether or not they have

been correctly applied.

“To bring about change you have

to bring all parties with you. I would

rather work with the industry than be a

campaigner in the wings. My expertise

complements that of my members’ and

we can learn from each other.”


Russell insists he is not ‘the guy always

representing the bad guys’ but enjoys

the opportunities and challenges that

the ‘issues-rich’ roles have given him. At

the time of our conversation, CIVEA is

about to launch details of its new Code, a

Compliance Board (he is actively recruiting

independent parties to join), and a new

complaints procedure. He engages

closely with other Trade Associations and

membership organisations, including the

CICM: “Sharing knowledge is important

and we work with the broad church of

CICM members,” he adds.

Despite a very busy schedule, Russell

still finds time to relax, if that is the right

word, watching his beloved Southampton

FC: “We stayed up this year, but every

season is a cliff-hanger,” he laughs. “It’s far

more exciting than being a Manchester

City fan anyway.”

As a country man at heart he is a keen

angler: “My record catch was a 22-pound

Pike when I was 14, and I had to wait

almost 40-years before I caught another

one of 20-pound plus. But that’s why they

call it fishing and not catching!”

The Recognised Standard / / July/August 2019 / PAGE 23


Strong-arm tactics

More than £4 billion was stolen as a result of online

card fraud last year, but help is at hand.

AUTHOR – Adam Bernstein

EUROPE has, for some

time, been worried about

online card fraud. As part

of the fight back, from

14 September 2019 a new

process known as Strong

Customer Authentication (SCA) made

under the Revised Directive on Payment

Services (PSD2) will be in place which

itself came into force in January 2018.

SCA is effectively an extra layer of

security designed to prevent payment

fraud. It ensures that online card

transactions become more secure through

‘multi-factor authentication’ – a second

check to demonstrate that both the

transaction and card holder are genuine.

The aim of SCA is to be the ‘chip and pin’

of the online world; and be applied to

transactions over a certain value – €30.

But while SCA targets the online

transaction, Mark Nelsen, Senior Vice

President, Risk and Authentication

Products at card processor Visa, says that

banks and merchants may also need to

regularly check that contactless payments

are made by the correct cardholder too

– by asking for a PIN. “This,” he says,

“might occur after a contactless card has

been tapped five times in succession,

or when €150 has been spent using only

contactless taps.”

SCA could mean any one of numerous

authentication methods such as an online

PIN or password, a device that only the

cardholder can authenticate – say a

smartphone, or a biometric trait such as

a fingerprint or facial recognition that is

clearly very personal.

For some retailers, there are worries

that this extra layer of protection will

add unnecessary complexity which will

irritate customers who subsequently

abandon their ‘shopping carts’ part way

through the buying process – leading to

lost sales.

Just as the GDPR revolutionised

how data protection is managed and

individuals access their information, so

SCA is going to change how retail works.


As the name suggests, PSD2 is an update

on the original Payment Services Directive

(PSD) that was brought into force in 2007.

Its stated goal was for a single market for

payments with easier and more efficient

cross border payments, so that it mattered

not if a payment was made to another

within the same member state or to a

party in a different member state.

PSD2 expands on PSD by permitting

third-parties to access an individual’s

account information via the ‘Open

Banking’ protocol; enhancing consumer

rights, especially in relation to currency

charges; and enhancing card holder

security via SCA.

Change was clearly needed as both

credit and debit card usage is dramatically

on the increase, and with a rising level

of card use comes increasing risks of

fraud. The European Central Bank, in

its Fifth report on card fraud, published

September 2018, found that that cards

issued within Europe saw fraudulent

transactions to the tune of €1.8bn in 2016

and that 73 percent of that sum related to

card not present transactions.

Not everyone is in favour of SCA. In

2016, card processor Visa argued that the

new process would risk disrupting online

shopping while not necessarily increasing

security. The point is well made from

its perspective as its fortune naturally

depends on transaction volume.


Compliance with the new regime is

mandatory. If the online trader doesn’t

comply then all transactions will be

automatically declined by the cardholderʼs

bank when they attempt to make a

purchase. Further, by not planning ahead

and developing authentication processes

that offer the least friction to consumers

traders could see huge falls in sales as

consumers switch off and march with

their feet.

Considering that, according to

Ecommerce Europe in its European

Ecommerce Report 2018 Edition, the

European business-to-consumer online

economy is worth around €602bn in

2018 (up from €307bn in 2013), if only

ten percent of consumers – let alone

a potential 25 percent that could walk

– abandon a transaction because of

complexity or irritation then firms stand

to lose huge sums.

But with new rules comes opportunity

– a chance to market themselves to

customers as both being secure and

trustworthy, as well as having the simplest

way possible of complying with the

new rules. Of course, consumers want

protection, but in today’s modern world,

they also want simplicity and they want it


The rollout won’t be easy. While EU

demands compliance, every member

state will see different interpretations

of PSD2. Whether that’s from the banks,

card issuers or central bank, there will be

differences. On top of this there is the €30

exemption to take into account.


The first step for any online trader is

to set their systems to recognise when

transactions need to abide by SCA (i.e.

above the €30 threshold) or when they

don’t. Further, recurring payments will

also be exempt so that needs noting by

the system. Allied to this is the option

The Recognised Standard / / July/August 2019 / PAGE 24

Fraud on Tap

Fraudsters are targeting new areas

but the net is closing in.

AUTHOR – Nick Mothershaw

for a customer to ‘whitelist’ a business

with their card issuer so that future

purchases made from that business fall

outside of the multi-step authentication

regime. That said, some banks won’t

permit this and with the sheer number

of banks in Europe this may not even

be an option for all but the largest of


The second step is for a business

to consider how SCA is to be operated

within its trading platform. Is it to be by

text, smartphone, email, biometric trait

or other option? Given the size of some

firms such as Amazon the options are

many. But for the smaller independent

a text- or email-based process is

likely to be more appropriate. Visa

suggests that for transactions that

require SCA, a business should have

what is known as 3-D Secure 2.0 (3DS) in

place to enable them to apply exemptions

such as low-risk transaction analysis or

perform two-factor authentication when

needed. The benefit to traders of 3DS

is that it allows issuing banks to verify

credit card owners during the transaction

process – this means that those firms

using this protocol can transfer

liability for fraud disputes away from


Lastly, firms need to think about

whether they want to implement SCA

internally – and so become ‘expert’ – or

hire in third-party help to undertake

the task. A conversation with a firm’s

merchant acquirer would be time

well spent.

Just as the GDPR

revolutionised how

data protection

is managed and

individuals access

their information,

so SCA is going to

change how retail


IT’S long been the case that if

you carried out a straw poll in a

busy café in a city or town asking

if anyone had been a victim of

fraud in the last year, a few hands

would go up.

The UK’s main conurbations have

served as a lucrative hunting ground for

fraudsters. The rising popularity of city

living means more blocks of apartments

where mail is often left in communal mail

areas, or simply left lying around. It makes

it easy for fraudsters to drop in unnoticed

and pick up the letter which contains the

credit or debit card they have applied for

in a victim’s name.

Yet the latest Hunter fraud statistics

from Experian show fraudsters are looking

beyond those who frequent trendy high

street cafes, and turning more attention to

those enjoying a drink in the countryside


There was a 29.5 percent rise in fraud

against well-off homeowners living in the

countryside, who either make lengthy

commutes to work or have retired.

Fraudsters have taken advantage of

mailboxes which sit at the end of long

driveways, where criminals can operate

out of view from the residents.

Suburbanites also experienced a rise in

fraud, with 7.5 percent more cases against

people living in family homes whose

children are either older or have flown

the nest. Fraudsters have also got older

people in their crosshairs – the over 60s

saw an 11.5 percent increase in fraud last

year, more than any other age group, while

people in their 50s were the only other age

group to experience a rise in third party


Part of the fraudsters’ logic for targeting

out-of-town locations is that the residents

of the properties are often wealthier

and eligible for higher credit limits, so

make for a more profitable mark. Areas

commutable to London are being hit –

such as Cheshunt in Hertfordshire, Grays

in Essex, and Sevenoaks and Gravesend in



At Experian, we uncover a new fraud

every 15 seconds. While we’re proud of

this number, there’s much more that both

individuals and organisations can do to

frustrate fraudsters.

As a consumer, it’s important to deny

fraudsters the physical documents they

need to make an application in your name.

For people living in blocks with communal

mail facilities, that means keeping a keen

eye on your post and ensuring it’s not left

somewhere where it can easily be picked

up. Think carefully if you’re expecting a

letter and it doesn’t turn up.

It’s also worth considering if your

mailbox is accessible from outside.

A locked mailbox might block an

opportunist, but professional fraudsters

will know which type of keys open the

locks to the mailboxes you can buy on the

high street. If it’s at all possible to have

your post drop through the door, or at least

somewhere it can be seen from your home,

then that’s preferable.

Checking your credit report on a regular

basis can act as an early warning sign to

stop fraudsters from making a string of

applications in your name. Take action at

the first sign of an account opening you

don’t recognise.

For people who have been affected,

Experian operates a free victims of fraud

service which helps people repair the

damage done to their credit history by



Organisations are always on the lookout for

innovative new ways to identify fraudulent

applications and machine learning is the

latest tool at their disposal. It learns from

previous incidents, whether an application

was found to be fraudulent or not, and

adjusts which cases it flags accordingly.

As a result, lenders’ fraud teams have

a more concentrated set of applications

flagged to them for further review, so they

can work more efficiently. It also means

that applicants are more likely to have a

smooth and complete online customer

journey, rather than needing to wait for

a decision or to ring a lender to provide

more information.

Trends in fraud change over time, as

criminals look to exploit vulnerabilities

in the system, or in human behaviour. A

combination of consumer vigilance and

innovative approaches from lenders is the

key to stopping fraudsters in their tracks.

Nick Mothershaw is UK&I Director of

Identity and Fraud Solutions at Experian.

The Recognised Standard / / July/August 2019 / PAGE 25


The more things change…

UK exporters that embrace the changes forced by

Brexit will find opportunities beyond the EU.

AUTHOR – Lesley Batchelor OBE FCICM

Lesley Batchelor

THERE is a great deal being said at

the moment about how the way

we trade with the rest of the world

is due to change significantly

in the years to come. Brexit

will no doubt change several

aspects of trade for UK exporters – including

the introduction of a lot of paperwork for

companies to complete to continue to sell into

Europe, as well as potential new tariffs should

a ‘no deal’ occur. Yet, for those of us who have

been exporting beyond the EU for decades,

customs checks and piles of documentation

will already be familiar. We already know

about customs declarations, rules of origin and

looking through tariff schedules and we should

be assuring businesses who are new to all this

that it’s all perfectly doable, you just need to

apply yourself to it.

Exporting to the EU is about to change for

many businesses, but the processes of global

trade will remain the same. At the Institute of

Export & International Trade, we have a saying

that ‘exporting is easy when you know how’.

Never has such a phrase had more importance.

For those 150,000 companies selling only

into Europe presently, Brexit could of course

have a significant impact on their costs and

administrative processes. Indeed, with global

tariff rates likely to become more mutable due

to rising protectionism and the increase of

trade disputes between major nations, the costs

of international trade could be in for a period of



The processes of international trade – or at least

the mindset required to get to grips with them

– will remain the same. You will always need

to ensure you’re on top of the documentation

required to move goods over borders and you

will need to know the tariff code for your

product and the duty and taxes tracked by

that code in the market you’re selling to. When

looking to use a preferential trade agreement

to pay lower duty, you will need to understand

rules of origin in order to prove that the reduced

tariff rate applies to the goods you are moving.

Whatever the changes ahead, these sorts

of processes will remain the same. As with

anything, you will need to approach trade

with a mindset of wanting to do it properly. If

you don’t look into the legal and fiscal

requirements for your goods to be moved into a

new country, then you risk delays at the border,

potential fines and reputational damage.

International trade should be viewed as an

investment. Whatever the climate, you will

always need to understand the market you’re

selling to, do due diligence on the people you

partner with, and have a plan for how you

can grow and sustain your business in that

market. If you’re not sure how to do all this, or

if you are daunted by documentary and legal

requirements which you know little about at

this stage, ask for help and take the time to

learn. There is so much support out there – from

Government to the Chambers of Commerce, to

the training, qualifications and technical help

that we provide at the Institute.

Exporting is an investment and there

is plenty of uncertainty about some of the

specifics in the trading landscape in the coming

years. Yet, it remains a worthwhile investment,

as international trade allows you to spread risk,

reach new customers and increase your profits.


Brexit does create uncertainty, but it creates

uncertainty in the UK market as much as it

does in Europe or elsewhere. One of the best

ways of mitigating this risk is therefore to look

to markets around the world where there is

growth and relative stability.

Research from HSBC estimated that 70

percent of future world growth will come

from emerging economies while a report from

the ONS showed that most of the UK’s fastest

growing exporter partners for 2018 were also

from emerging markets. The way in which we

trade with several of these markets will remain

the same, whatever happens with Brexit, and

the costs involved will probably be easier

to predict than for the EU in the immediate

future. The duty payable for importation to

several emerging markets will remain at the

‘Most Favoured Nation’ rate lodged by the UK in

that market under WTO rules.

If uncertainty and unpredictability are

stopping you from expanding overseas, we’d

suggest looking at markets where the trading

conditions are likely to remain more stable. As

long as you get to grips with how international

trade operates and do the work and research

required for each market, global trade will

remain a source of opportunity rather than a


Lesley Batchelor OBE FCICM is Director

General of the Institute of Export and

International Trade.

The Recognised Standard / / July/August 2019 / PAGE 26

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If we are unable to recover your debt at this

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No Hidden Costs

For many cases, where it is necessary

to issue legal proceedings, we can offer

service on afixed fee basis with nohidden

costs and, where possible, wewill make

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Over the past 5years we have successfully

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Call now totalk to amember of

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The Recognised Standard / / July/August 2019 / PAGE 27



Monthly round-up of the latest stories

in global trade by Andrea Kirkby.


ACTION against Chinese telecoms

manufacturer Huawei has shown that

the trade war can have very specific

impacts on the supply chain, too.

The US has put Huawei on an export

blacklist and that’s led to action from

a number of tech companies. For

instance, Google has said it won’t

supply Huawei with Android updates,

leaving the company high and dry

when pushing updates out to its

user base. The German economics

ministry has taken the situation

JUST when we thought it was maybe the end

of the skirmishes, a whole new chapter of the

US-China trade war has started.

Talks following an end-2018 truce appear

to have fallen apart, and the US has raised

tariffs from ten percent to 25 percent. China

is expected to retaliate – and that could lead

to a sharp deterioration in global trade. One

big problem now is that, like Brexit, the tradewar-or-not-trade-war

has been rumbling on

for far too long, creating uncertainty. Tariffs

have already led to a fall in Chinese trade –

both imports and exports – and US exports

of raw materials and food to China have more

than halved. But these are small hits in terms

of global GDP.

seriously enough to investigate the

impact on German tech companies.

Semiconductor firms and software

firms could easily get caught out. If

you're supplying tech firms, it’s worth

checking whether they’re vulnerable.

More generally? A lesson that

just examining customers’ financial

statements isn't enough. You need to

have a good idea of just where they’re

selling – and you might need to look

several steps up the supply chain, not

just at their direct customers.


What’s more serious is that firms are

rerouting their trade flows. For instance, the

US is now importing more electrical goods

from South Korea and Mexico to replace

Chinese supply – but other countries will

lose out on supplying components to Chinese

manufacturers. That will lead to market

turbulence, and as an exporter you’re going

to need to be at the top of your game to track

who's winning and who’s losing.

The new tariff rise could also have a much

more severe impact than last year's action.

One bank believes US earnings could fall by

five percent – that’s a pretty serious decline.

And if that touches off a stock market crash,

life could get very sticky, very quickly.


GREAT Yarmouth based ATAM Group is

another business that finds export markets

rather different from its home base. Its oil and

gas tooling and software are very specialised,

so it has diversified across a number of

geographical markets to try to spread its

risks. Its sales are over 60 percent export.

But it has actually found that the Middle East

offers significantly bigger contracts than

the UK, because there are major new piping

construction projects out there.

You might say ATAM exports because

it has to. But many companies restrict

themselves to a small UK market when

there’s a much bigger export market out

there. Where ATAM has excelled is in getting

to grips with the technicalities of exporting

– whether that's getting the right distributors

in place or managing export paperwork

and regulations – and pushing on into new

markets. That’s meant plenty of travelling, a

lot of missions, a lot of exhibitions – and a lot

of new business.


THE UK continues to do well at exporting

alcohol. We exported £8.3 billion of beverages

in the year to February 2019, up seven

percent, creating a trade surplus of £1.6

billion in the sector. India and Japan, in

particular, are showing strong demand, with

both gin and whisky doing well.

Spirit of Harrogate is one exporter that’s

doing well. The company was only founded

in 2014 but it’s already exporting around

the world, and recently signed a deal with a

Chinese distributor. New Zealand, Germany,

Malta, Denmark, Finland and Croatia have

also fallen for its Slingsby gin, including an

unusual rhubarb version.

The Recognised Standard / / July/August 2019 / PAGE 28

Ramadan Mubarak

Algeria’s not a ‘failed state’

THE ‘Algerian Spring’ continues. Former

president Bouteflika has now stepped

down, but the situation remains fluid.

Protestors are currently resisting the

army's call for early elections; they want a

transitional authority to be set up to review

the constitution and create a new elections

overseer first.

While political risk is high, the economy

represents another significant risk. The

economy has been too reliant on oil,

which represents around 80 percent

of total current account receipts; the

collapse in the oil price since 2014 has hurt

government finances, and there has been

no reform to restructure the economy or

kickstart other sectors. This leaves the

country with a budget deficit and a current

account deficit.

What's the good news? Algeria's foreign

exchange reserves, still at over a year

despite recent falls. The economy is still

functioning – Algeria’s not a ‘failed state’ –

and if oil prices do go up, there could be a

boost to the country's finances.

The UK has typically exported heavy

machinery – transport equipment, power

machinery, vehicles – as well as chemicals

and iron and steel. But there are increasing

opportunities in education and training

– despite having been a French colony,

Algeria places high importance on English

language training – and in agriculture.

(The consumer market is not very highly

developed; price rather than branding has

usually been the main selling proposition.)

However, you'll want very tight control of

credit if you're selling into the country.

US-Iran – another worry

THE Middle East has also seen further

destabilisation recently with increasing

tensions between the US and Iran.

There’s no political will to engage in

conflict, but the risk of such conflicts

arising accidentally is what worries the

credit insurer Credendo.

The reimplementation of sanctions

is ratcheting up pressure on the Iranian

economy, which shrank by four percent

last year and will probably shrink a

further six percent this year. That’s

actually helping the hardliners in the

country, who can point to the economic

damage as a reason for escalation.

But it’s not just Iran that’s affected.

Both the US and Iran have a military and

political presence in Iraq. Iran may also

increase support for the Houthi rebels in

Yemen and is involved in Syria and to a

lesser extent in Lebanon. So that’s a large

part of the Middle East that could be put

off its balance.

But the more worrying impact for

most exporters is the potential impact

on the oil price. Out of a list of major

oil producers, there’s a huge slug of

countries with high political risk.

Venezuela – currently out for the count.

Algeria – going through its own delayed

Arab spring. Nigeria – dealing with both

terrorism and a highly disputed election.

And don’t forget Iran could blockade

the Strait of Hormuz. That could easily

send oil all the way up from today’s $60

up to $100 a barrel or more. That would

wipe 0.6 percent off global growth, and

lead to inflationary pressure in major oil

importing economies.

If you add that to the China trade war

escalation, it could create an economic

perfect storm. Or it might just give other

oil producing countries like Colombia a

shot in the arm, while damaging the big

importers, like India.

VIMTO has been exporting for rather longer

than Spirit of Harrogate – it’s been selling in

the Middle East for nearly a hundred years.

Its sales charts are fascinating – low, steady

sales all year, and then a sudden spike as

Ramadan approaches. It sells 25 million

bottles for iftar (fast-breaking) meals during

Ramadan – pretty much as synonymous

with Ramadan as turkey is with Christmas.

It even has its own memes on Twitter.

That's a reminder that your export

markets could be very different from your

market in the UK! Seasonality may well be

different, so applying the same DSOs you

do in the UK might not always work well;

and if you find export markets are using

your product in a completely different way

from what you’d expected, it's probably best

to follow Vimto’s lead and embrace that


The Philippines

S&P recently raised The Philippines credit

rating to BBB+ – the highest it’s ever been.

It's now investment grade with all three

major credit rating agencies, the result

of fiscal stability under the last three


GDP is expected to grow at an average

4.9 percent a year till 2020, and 6.3 percent

this year – it’s one of the fastest growing

economies in the region. It’s slowed

recently, mainly due to budget delays and

lacklustre exports, but that's expected to

be a temporary blip. It also has a growing

consumer base which should attract

consumer goods exporters – some British

retailers have already made it out there.

Another area in which British exporters

are doing well is in infrastructure

investment. There’s much going on – the

‘Build Build Build’ initiative does what it says

on the tin! – and green energy is a particular

focus. But keep an eye on the peso; it hasn’t

always been the most stable of currencies,

though it's behaving itself at the moment.



CALL 020 7738 0777

Currency UK is authorised and regulated

by the Financial Conduct Authority (FCA).


GBP/EUR 1.1534 1.1196 Up

GBP/USD 1.2953 1.2563 Down

GBP/CHF 1.3057 1.2543 Up

GBP/AUD 1.8659 1.8130 Up

GBP/CAD 1.7445 1.6799 Down



142.049 136.533 Up

The Recognised Standard / / July/August 2019 / PAGE 29




Can we rely on Artificial Intelligence

for credit analysis, especially when no

financial data is available?

AUTHOR – Angelique Assaf


the workplace, derived

from this technological

epoch that we are all living

through, have provided a

heavy reliance on Artificial

Intelligence (AI) for many tasks. From

menial day-to-day activities such as

sorting emails into spam to more complex

projects such as reading and analysing

medical scans in hospitals.

AI is both complex and simple; it can

provide the perfect platform for businesses

to increase efficiency and productivity, if

managed correctly. Our tech-driven world

begs the question of how is your company

using AI? Rather than is your company

using AI? Credit analysis is one aspect

that AI has shown huge advancements in,

through managing data, assessing credit

risk and providing a scoring system.

Artificial Intelligence can mitigate human

errors in highly data-driven tasks, such as

credit analysis. However, it is important

to understand the limitation of AI, which

further begs the question, how reliable is

the credit analysis?


In reaction to the rise in technological

advancements, algorithms have been

created to replace human intervention

for traditionally time-consuming tasks.

Some of these tasks include, but are by

no means limited to, data entry, research

and even analysis and decision-making.

The credit industry is a great example

of AI in the workplace. The value of

creditworthiness is calculated in parallel

with the likelihood that a business

will or can pay back credit. However,

the normative means of assessing this

requires a multitude of factors, each with

a different weight of effect on the final

assessment. Artificial Intelligence used

to accomplish these assessments requires

an automation of calculus and being able

to utilise the quantitative and qualitative

factors, including specifically allocated

weights and scores per assessment.

‘Work smarter, not harder’ is an ethos that

has been widely adopted by companies,

proving to increase efficiency, success

and profitability. Thereby combining past

experiences, statistics and analysis in

order to generate an automated system,

companies can formulate the necessary

algorithms to perform automatically.

Automated algorithms are formulas

that have been created, tested and

applied by researchers, analysts and

strategists in order to develop a functional

process of calculation to form a specific

score or value using the same data

factors. Scorecards act as a template in

which consistent and more reliable

results can be generated, relieving any

guesswork that may have previously

been involved within the process. With

automated AI technology, results only

differ depending on changes to input or

value weight.

Reliability of human intervention

in processes such as scoring has often

been questioned for a variety of reasons.

For example, humans tend to finalise on

numbers that are rounded figures when

producing a score or value after a study

of a variety of elements. Alternatively, and

accurately, AI through the use of formulae

could derive a three digit decimal value

after running the algorithms on the input

data. Therefore, AI also takes out any

subconscious human intervention that

may be inconsistent and lead to biased

results. AI output is purely mathematical

and reliant on data given and the weight

each data carries. Conclusively, reliability

is maintained by sourcing data from

reliable sources and when algorithms are

created on the basis of statistical modules

from experienced analysts.


The use of technology for credit analysis

has a wide array of benefits; one of

the principle benefits is the ability for AI

to comprehensively provide automated

scorecards for credit ratings. By using

algorithmic methods via formulas applied

on the data, the scoring system becomes

instant, highlighting the efficiency of AI.

The Recognised Standard / / July/August 2019 / PAGE 30


AUTHOR – Angelique Assaf

Furthermore, there are a range of other

benefits that we can distinguish:

• Improvements in operational efficiency:

The process of evaluating credit

risk when applying credit scoring is

automated, thereby, eliminating human

intervention that may lead to errors.

• Time and cost efficiency: removing

human invention reduces the

operational costs of credit analysts and

also saves time for the clients.

• Accuracy: AI has a standard, accurate

and consistent means of analysis using

computed rules and calculations.

• Flexibility: It provides a flexible

algorithm that can be challenged and,

therefore, constructively improved by

Data Scientists.

• Consistency: It provides broadly

consistent results which represent a

reliable and optimal estimation.

• Directness: AI reduces guesswork

that may be involved in the process of

making everyday decisions.

• Instant availability: It provides an

automatic determination of the level of

risk that a business has.

• Intuitiveness: AI can assist the client in

what their next steps will be, within a

process. For example, a recommended

level of due diligence.

• Reliability: The process is designed to

be objective, with no human standards

that can create bias.

• Simplicity: AI technology is relatively

simple to follow and easily interpreted.


It is important to understand and assess

what data AI analyses to output the

results. A credit analysis of company data

is a combination of both financial data

and non-financial data. The latter relies

on an input of quantitative and qualitative


Some determinants that effect

creditworthiness could be:

• Country of incorporation – country risk

• Date of the business

• Legal form – type of a business

• Shareholders – owners of a business

• Number of employees

• Premises

• Payment behaviour

• Operations and activities

• Management

• Capital

• Turnover and net profit

• Ratio analysis



Although many countries, in this day and

age, have complete data transparency

in regards to company data, especially

throughout Europe and the USA, there is

still a major challenge in other areas of

the world. For example, the Middle East

and Africa, where companies have no

obligation to file financial statements,

this could weaken the reliability of AI

credit analysis. Financial data is one of

the main factors of credit scoring and

generating a reliable scorecard. The

Middle East in many jurisdictions still has

a culture of privacy in terms of company

financial data, which puts great strain on

AI algorithmic calculations. So how can

you overcome this barrier?

Some companies have, through several

years of human analysis and research

found a way to assess creditworthiness via

alternative factors. By creating a flexible

scorecard that can consider a range

of other factors, AI technology is still

deemed reliable, if not more reliable, due

to its flexible capacity. When financial

data is absent, alternative factors prove to

be pivotal to create a final scorecard.



A common misconception for data

analysis when assessing creditworthiness

is that financial data is the most important

contributor and that the assessment

cannot be reliably carried out without it.

However, if you have experience within

the Middle East or North Africa (MENA)

region, you would know that successful

AI assessments on creditworthiness can

be performed without relying on financial

data. For example, some companies may

have enough turnover and net profit to be

considered large companies, but, carry

a bad payment behaviour trend. This

has been evident in several countries

including some very high profile recent

cases in the UK recently.

Collecting payment behaviour and

reviews on businesses with their own

suppliers can provide a robust and

concrete basis on which to partially build

your assessment but companies need to

have a multitude of factors in place in

order to be deemed creditworthy. AI is

at its most useful when all of these risk

factors are taken into account.


AI transforms the process of analysing

the value of creditworthiness, providing a

more reliable and concrete assessment of

weighted factors. The operational benefits

that come with credit analysis have

proven to be a success on a global scale.

The pinpoint accuracy and objectivity of

AI will always prove to be more reliable

than human intervention for credit

analysis. However, what is vital is that,

where human intervention is necessary,

collecting data from reliable and official

sources has to be relevant. The data

sources you use cannot be outdated or

incoherent; otherwise, no matter the AI or

human intervention, your credit analysis

will be unreliable and inconsistent. AI is

most reliable when human intervention

works alongside, and using the best

features of both models will deliver the

most optimal outcome.

Angelique Assaf is a Data Strategist

for Cedar Rose.

The Recognised Standard / / July/August 2019 / PAGE 31


L3 Advanced Enforcement

Build expertise in advanced enforcement

by studying for Advanced CICM Award.

THE CICM has partnered with

The High Court Enforcement

Officers Association (HCEOA) to

create a new CICM Level 3 Award

in Advanced Enforcement, with

a new online course on the

CICM Knowledge Hub which helps candidates

prepare for the Award.

The Award has partly been launched

in response to calls from the Debt Advice

charities for better qualified enforcement

agents, and is one of many steps being taken

by the industry to improve standards. The

course is designed to bring about more

sensitive enforcement and better results

without undue imposition on the customer.

The course is aimed at team leaders

and senior enforcement agents who have

experience of collecting the more complicated

debts from accountants or financial directors

of a business that are required to have a

better knowledge of Taking Control of Goods

legislation, rather than more simple council

tax or parking fine arrears from individuals.

“This course demonstrates our commitment

as an industry to try and raise the standards

of enforcement across the board,” says

Andrew Wilson, Chairman of the High Court

Enforcement Officers Association. “Having

Level 3 will make Agents more employable

as a sub-contractor and also in their future


Enforcement Agents who would like to

become authorised High Court Enforcement

Officers can use the Level 3 Award as the

starting point for the Level 4 High Court

Enforcement Diploma, which is part of the

requirement for authorisation.

The Level 3 Course builds on the Level 2

Award in Taking Control of Goods, which

is the basic regulatory requirement for

Enforcement Agents and includes pre-course

activities, ten modules covering all syllabus

areas, assignment writing advice, a resources

section and course completion certificate

for learners who complete key activities

and course evaluation. Learners looking to

gain the regulated award can submit their

assignment to the CICM Awarding Body in

January, June or October for independent


The new Award has also been endorsed by

the Local Authority Civil Enforcement Forum

(LACEF) and the Certified Enforcement

Agents Association (CEAA).

The valuable, high quality award is

regulated by the qualification regulators

for England, Wales and Northern Ireland.

Progression routes include the CICM Level 3

Diploma in Credit and Collections, Advanced

Credit Controller/Debt Collection Specialist

Apprenticeship and CICM Level 4 Diploma in

High Court Enforcement.

“This course demonstrates our

commitment as an industry to try and

raise the standards of enforcement

across the board”

Andrew Wilson, Chairman of the High Court Enforcement Officers Association.

Course modules

• Taking Control of Goods

• Powers and obligations of enforcement agents

• Risk management

• Legal, regulatory, and industry frameworks

• Prescribed form completion

• Customer care

• Vulnerable customers

• Conflict management

• Personal effectiveness

• Reflective practice

The course takes approximately 100 hours to complete and

could form part of a face-to-face training programme

Fees apply: £325 for a 12-month licence for elearning course

(£200 for HCEOA members)

£350 for a 12-month licence for elearning and support coach

(£250 for HCEOA members)

The standard CICM registration and assignment

assessment fees for the regulated award apply.


or call 01780 722909 for further details

or to purchase the course.


If you are serious

in furthering your

career in credit


being a member

is essential

Andrew Barbaro


The value



Andrew Barbaro FCICM

Director of Customer Financial Services MEA

Emerson Automation Solutions is a Fellow of

the CICM.

Read more about his story and join your

credit community by visiting:

01780 722900


Ethiopia is

challenged by State



Ethiopia: Part two

The Recognised Standard / / July/August 2019 / PAGE 34


AUTHOR – Adam Bernstein

The state is heavily engaged in

the economy with infrastructure

projects involving power

production and distribution,

roads, rail, dams, airports and

industrial parks.

ETHIOPIA faces a number of challenges

not least of which is sustaining positive

economic growth and accelerating poverty

reduction. Both require investment in job

creation as well as improved governance.

But challenges exist in terms of

limited competition which isn’t helping manufacturing;

the creation of jobs and the increase of exports; an

underdeveloped private sector; and political disruption.

The state is heavily engaged in the economy with

infrastructure projects involving power production and

distribution, roads, rail, dams, airports and industrial

parks. There are a number of sectors that involve

state-owned organisations in telecoms, banking and

insurance, and power distribution. But one issue

affecting development is that, according to Forbes and

the CIA’s Factbook, under Ethiopia’s constitution, the

state owns all land and provides long-term leases to

tenants – land cannot be bought or sold. Any title rights

that exist in urban areas, particularly Addis Ababa, are

poorly regulated, and subject to corruption.

The agricultural sector has historically been the

engine of the Ethiopian economy, but it has recently

given way to the service sector. The National Bank of

Ethiopia notes agriculture, industry and services have

contributed 36 percent, 25.6 percent and 39.3 percent to

GDP respectively in 2016/17 as opposed to 36.7 percent,

16.7 percent and 47.3 percent, to GDP in 2015/2016. The

agricultural sector’s share of GDP shrank by more than 25

percent between 2005 and 2016, while the service sector’s

share grew by 27 percent during the same period. The

service sector’s share started falling sharply in 2016/17 as

manufacturing has risen in importance. Service sector

growth is mainly driven by expansion in communication

and transport services, hotel and restaurant businesses,

as well as wholesale and retail trading.

Commodities are important to Ethiopia. Coffee

remains the largest foreign exchange earner, but Ethiopia

is diversifying exports so that commodities such as gold,

sesame, khat, livestock and horticulture products are

becoming increasingly important. While manufacturing

represented less than eight percent of total exports in

2016, this is expected to increase because of a growing

international presence.

Ethiopia attracted $3.7 billion foreign direct

investment in the last financial year according to the

Ethiopian Investment Commission.

To support industrialisation in sectors where Ethiopia

has a comparative advantage, such as textiles and

garments, leather goods, and processed agricultural

products, the country plans to increase installed power

generation capacity by 8320 MW, up from a capacity of

2000 MW, by building three major dams and expanding

use of other sources of renewable energy.

It’s worth noting that Ethiopia has its own calendar

year which features 13 months, 12 months with 30 days

each and one month of five or six days depending on

whether the year is a leap year or not. The Ethiopian

calendar year begins on 11 September, which is the

Ethiopian New Year. The government fiscal year starts

on 8 July. Firms should consider this when organising

visits to Ethiopia and when approaching the government

to finance goods and services to ensure funding and

appropriate approvals.

The Recognised Standard / / July/August 2019 / PAGE 35


Downward spiral

The latest monthly business-to-business

payment performance statistics.

AUTHOR – Jason Braidwood FCICM(Grad)

FOLLOWING the previous month’s

topsy turvy payment performance

statistics that showed a few signs of

improvements, but also a number

of regions and sectors moving

in the wrong direction, payment

performance since builds on that doom and gloom

with a number of concerning performances, and

very little to be positive about. The average Days

Beyond Terms (DBT) figures across regions and

sectors increased by 4.5 and 3.6 days respectively.


On the whole, it has been a dreadful month for

the majority of sectors. But there are a least a few,

four of the 22 sectors to be exact, that have made

positive strides and deserve to be highlighted. The

biggest improvement came from Energy Supply,

reducing DBT by 4.9 days and now the third best

performing sector. Above them in the table in

second is Construction, with a reduction of 3.0

taking its overall DBT to 11.0 days. Transportation

and Storage (-4.6 days) and Water & Waste (-0.8

days) also moved in the right direction.

At the other end of the spectrum, it has

been a woeful month for International Bodies,

increasing its payment terms by a massive 8.2

days. Entertainment (+7.1 days), Financial and

Insurance (+6.8 days), Real Estate, Education and

Health and Social (all +6.3 days) all struggled. A

further increase of 5.5 days means that Business

from Home is now the worst performing sector

with an overall DBT of 24.4 days.


Similarly, the regional standings do not make

for pleasant reading, with all of the 11 regions

increasing their payment terms. A further increase

of a huge 6.4 days takes Northern Ireland’s overall

DBT to 24.2 days, maintaining its position as the

worst performing region, by a growing distance.

West Midlands time as best performing region

was disappointingly short-lived after an increase

of 6.0 days to its payment terms. South East, East

Anglia and South West also performed poorly with

increases to 5.7 days, 5.5 days and 4.9 days DBT


Yorkshire and Humberside achieved the

lowest increase (+2.3 days) making it the new best

performing region, but it is no great cause for

celebration, it has been a disappointing month for

all regions.

The Recognised Standard / / July/August 2019 / PAGE 36


Top Five Prompter Payers

Sector May 19 Change from April 19

Public Administration 10.1 4.7

Construction 11.0 -3.0

Energy Supply 11.2 -4.9

Transportation and Storage 13.8 -4.6

Agriculture Forestry and Fishing 14.1 5.4

Getting Better

-4.9 Energy Supply

-4.6 Transportation and Storage

-3.0 Construction

-0.8 Water and Waste

Bottom Five Poorest Payers

Sector May 19 Change from April 19

Business from Home 24.4 5.5

Mining and Quarrying 22.6 0.0

Business Admin and Support 21.6 3.8

IT and Comms 21.2 6.0

Real Estate 19.8 6.3

Getting Worse

3.6 Wholesale and retail trade

3.8 Business Admin and Support

4.7 Public Administration

5.2 Professional and Scientific

5.3 Hospitality

Top Five Prompter Payers

Region May 19 Change from April 19

Yorkshire and Humberside 14.1 2.3

North West 15.8 2.3

East Midlands 17.1 3.6

Scotland 17.2 4.4

Wales 7.6 4.4

Bottom Five Poorest Payers

Region May 19 Change from April 19

Northern Ireland 24.2 6.4

South East 19.3 5.7

East Anglia 19.3 5.5

London 18.8 3.8

West Midlands 18.5 6.0


Getting Better – Getting Worse

2.3 Yorkshire and Humberside

2.3 North West

3.6 East Midlands

3.8 London

4.4 Wales

4.4 Scotland

4.9 South West

5.5 East Anglia

5.7 South East

6.4 Northern Ireland



6.4 DBT


4.4 DBT


4.4 DBT



2.3 DBT



2.3 DBT



3.6 DBT



5.5 DBT

On the whole, it has been a dreadful

month for the majority of sectors. But

there are a least a few, four of the 22

sectors to be exact, that have made

positive strides and deserve to be




4.9 DBT


3.8 DBT



5.7 DBT

The Recognised Standard / / July/August 2019 / PAGE 37



This year marks the 80th anniversary of the Chartered Institute of

Credit Management (CICM). In this issue we look at the development

of the Education department.

First Education Committee 1947

Chairs have included John Patrick, Glen Bullivant,

John Brown and Philip King

Qualifications 1949

The Institute awards the first qualifications in

credit management

First Education Conference 1949

Relaunched in 2019 as – The Learning Conference

Examination Board created 2000

Examination Board created to oversee CICM

qualification awards, chaired by Philip King until

April 2004 when Jane Abramson took over.

Government qualification 2001

The Institute first recognised by government

qualification regulators of England, Wales and

Northern Ireland and CICM qualifications accredited

to the National Qualifications Framework (NQF)

(NOS) 2002

Development of first National Occupational

Standards (NOS) in Credit Management

Sir Roger Cork prize 2003

Sir Roger Cork prize created. An annual award to the

best student to commemorate Sir Roger Cork, former

Chair of Council and President of the Institute

CICM qualifications 2005

Over 900 learners studying for

CICM qualifications in 26 colleges

Support Service 2007

Learning Support Service created to provide email

and telephone support for learners studying

increasingly independently

Credit-based qualification 2008

First assignments delivered for new credit-based

qualification to test credit management practice

Online exams 2009

First online exams introduced for credit

management, business law and business



Assessment Board 2010

Examination Board changed to Assessment Board

to reflect the wider range of assessment methods

including assignments

Collaboration 2010

Introduction of qualifications in money and debt

advice and debt collection, working alongside

StepChange Debt Charity

Virtual classes 2011

CICM launches virtual classes delivering three

month qualification classes to more than 66

learners in first year

HCEOA partnership 2012

CICM partners with High Court Enforcement

Officers Association (HCEOA) to launch


Taking control 2014

CICM launches Level 2 Award in Taking Control

of Goods partnering with HCEOA

Apprenticeships 2015

First learners achieve apprenticeships and more

than 150 now working through the programme

Specialist Standard 2016

Level 3 Advanced Credit Controller/Debt Collection

Specialist Standard approved with the support of

CICM and the Credit Services Association (CSA)

Accredited 2017

Skills Funding Agency accredit CICM as an End

Point Assessment Organisation for Level 2 and 3

Credit Controller/Collector Apprenticeships

CICM Mentor Hub 2018

CICM Mentor Hub is launched and matches

suitable mentors and mentees bringing personal

and professional benefits

Vulnerability Framework 2018

The launch of the CICM Vulnerability Framework

which provides a cross-sector view and links a

wide range of advice, best practice case studies and


Combined qualifications 2019

New qualifications in Credit and Collections

launched combining CICM credit management and

debt collections


1939 - 2019

The Recognised Standard / / July/August 2019 / PAGE 38

Are you making the most of

CICM and your membership?




Business news

and industry










Advice line
























What is the CICM? For you; For your team; For business

The CICM is the largest recognised professional body in the world for the credit community. When

you join us, our network of members across the world becomes your professional family.

We have been promoting the importance of credit management, influencing government policy and

regulation and supporting credit professionals through their careers since 1939. It is our reason for

being, and our passion for expertise in the credit and collections profession is second to none.

01780 722900


Technically speaking

Credit Management asked members of the CICM

Think Tank what tech they can’t do without and why.

Stuart Knock MCICM,

EOS Solutions

WHEN I think of the piece of

technology that we just couldn’t do

without and that also had one of

the biggest positive impacts to this

business when it came on stream, it

has to be our field services application,


This proprietary app sits on a

smartphone or tablet and allows us

to communicate in real-time with our

field agents. It’s secure, reliable and

very adaptable. One of the biggest

benefits that we generated when it

went live was that we no longer had to

hand over our agent’s mobile number

when connecting a customer to the call

centre – we just enter the customer’s

confirmed number and the call centre

(ours or our client’s) dials them.

Productivity and security were

improved at a stroke and the customer

benefits from being able to take a call

without our agent having to remain

with them, which de-stresses the


Jo Kettner,

Company Watch

THE one system that the Company

Watch team consistently uses is

the web-based software Slack.

It’s a powerful tool that makes

communication within our team

fast and easy. Whether it is project

discussions, important documents

or office cake announcements; they

all live together in Slack. Having our

team and information in one easily

searchable place means collaborating

online is as easy as collaborating in


Team members join and leave Slack

channels as and when they need to

(different to lengthy email chains).

There is also integrated file sharing;

ideal as team members are in the office

on different days or working overseas.

By using Slack we ensure all the

team are constantly in the loop and

don’t miss important announcements

and business queries. We think of it as

our online office workspace. Without it,

communication would be much slower

and we like to be efficient at Company


Dan Hancocks MCICM,


ON a day-to-day basis the team here

at CoCredo couldn’t live without our

internal control panel – basically our

version of a CRM system.

It is a versatile piece of technology

and not a standard out of the box

system. It has been built by our own

talented technical team and holds

customer and business information

that enables us to carry out our jobs.

The benefit of it being an in-house

system means that if we need

additional features, the tech team can

implement these easily.

It is used daily by every member

of the team ranging from sales to

marketing to customer services and

HR. Sales use it as a CRM system,

marketing use it to update the

website, for mailshots etc and HR

use facilities such as the holiday

planner. It enables us all to do our jobs

efficiently with the information we

need at our fingertips.

Debbie Nolan FCICM(Grad),


I took a poll around the office and while we all rely on our hand-held gadgets

to check email, take phone calls, use an app of one description or another, the

one thing that we cannot run our business without, is our CRM database.

It is essential that we have consistent, real-time access to our customers’

details and that they are validated, up-to-date, reflect the most recent

interactions and provide easily accessible historical transactions so that we

can ensure the best customer journey at any stage of the collections cycle.

It is essential that our system is flexible so that we can continually innovate

the way in which we interact with our customers. Our system drives our daily

activity and allow us to track process outcomes to construct analytics that

help us drive continuous improvement.

The Recognised Standard / / July/August 2019 / PAGE 40

The Recognised Standard / / July/August 2019 / PAGE 41



For further information and to discuss the opportunities of entering into a

Corporate Partnership with the CICM, please contact

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



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



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



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



T: +44(0)7747 761641



T: +44 (0) 1302 513 000

E: sales@keyivr


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 working 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


T: +44 (0)1273 696933


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



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



The Recognised Standard / / July/August 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.


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


T: +31 (0)88 256 66 66



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 cashflow 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


With 130+ years of experience, Graydon is a leading

provider of business information, analytics, insights

and solutions. Graydon helps its customers to make

fast, accurate decisions, enabling them to minimise

risk and identify fraud as well as optimise opportunities

with their commercial relationships. Graydon

uses 130+ international databases and the information

of 90+ million companies. Graydon has offices in

London, Cardiff, Amsterdam and Antwerp. Since 2016,

Graydon has been part of Atradius, one of the world’s

largest credit insurance companies.

T: +44 (0)208 515 1400



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


T: +44 (0)1527 872123



Improve cash flow, cash collection and prevent late

payment with Corrivo from Data Interconnect.

Corrivo, intelligent invoice to cash automation

highlights where accounts receivable teams should

focus their effort for best results. Easy-to-learn,

Invoicing, Collection and Dispute modules get collection

teams up and running fast. Minimal IT input required.

Real-time dashboards, reporting and self-service

customer portals, improve customer communication

and satisfaction scores. Cost-effective, flexible Corrivo,

super-charges your cash collection effort.

T: +44 (0)1367 245777



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


Shared Services Forum UK Limited

Shared Services Forum UK is a not-for-profit

membership organisation. with one vision, to form

the largest community of people from the business

world and facilitate a platform for them to work

together to mutual benefits.

Benefits include; networking with like-minded

professionals in Shared Services. The criteria is a

willingness to engage in our lively community and

help shape our growth and development.

T: 07864 652518



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



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 /



The Recognised Standard / / July/August 2019 / PAGE 43




Shoosmiths’ highly experienced team will work

closely with credit teams to recover commercial

debts as quickly and cost effectively as possible.

We have an in depth knowledge of all areas of debt

recovery, including:

• Pre-litigation services to effect early recovery and

keep costs down • Litigation service • Insolvency

• Post-litigation services including enforcement

As a client of Shoosmiths, you will find us quick to

relate to your goals, and adept at advising you on the

most effective way of achieving them.

T: 03700 86 3000



2019 CICM




Serrala optimizes the Universe of Payments for

organisations seeking efficient cash visibility

and secure financial processes. As an SAP

Partner, Serrala supports over 3,500 companies

worldwide. With more than 30 years of experience

and thousands of successful customer projects,

including solutions for the entire order-to-cash

process, Serrala provides credit managers and

receivables professionals with the solutions they

need to successfully protect their business against

credit risk exposure and bad debt loss.

T: +44 118 207 0450




Table Events



Practice Events

Esker’s Accounts Receivable (AR) solution removes

the all-too-common obstacles preventing today’s

businesses from collecting receivables in a timely

manner. From invoice delivery to cash application,

Esker automates each step. Esker's automated AR

system powered by TermSync helps companies

modernise without replacing their core billing and

collections processes. By simply automating what

should be automated, customers get the post-sale

experience they deserve and your team gets the

tools they need.

T: +44 (0)1332 548176



Just another great

reason to be a member

See full programme at | +44 (0)1780 722902

The Recognised Standard / / July/August 2019 / PAGE 44


20:20 Vision

The CICM Turner Lecture is now celebrating

its 20th anniversary.

AUTHOR – Richard Seadon FCICM

THE CICM Turner Lecture,

as we now know it, began in

the year 2000 when Senior

Master Robert Turner of the

High Court kindly consented

to attend the Law Society

one evening in October after finishing at

Court. The previous year I had attended a

lecture by Senior Master Turner in London

on the subject of the Woolf Reforms of 1998

as arranged by our London branch. On

reporting back to the CICM committee at

Kent, all thought what a grand idea it would

be to have members of the Kent branch hear

the same lecture.

On approaching Master Turner, he was

initially a little reluctant to come to Kent

after a busy day in Court in London. On

approaching him again with the idea that

Kent members attended the Law Society in

London he agreed, and so began an excellent

relationship with him and some of his team

at Court.

Our first evening turned out to be not

only a dismal evening weather wise but

an evening when there was a train strike.

However around 70 people attended despite

the difficulties and enjoyed the event to such

an extent that they requested a similar event

the following year. Master (now professor)

Turner so enjoyed the first occasion that

he remained for about an hour afterward

chatting to the delegates and finally

approaching me to ask if it was alright for

him to go! It was a humble trait of his I think

we all came to admire over the years as our

relationship with him went from strength

to strength. In one of his talks he described

himself (at the time the Queen’s Rembrancer)

as the country’s most senior debt collector!


Many of our members will recall that as

time passed the lectures, with Master

Turner’s agreement, became known as the

CICM Turner Lectures, most of which have

been held at the Law Society. As many of

you will also know, Master Turner became

President of the CICM serving as such until

his 75th year. During his years of office, he

was rarely missing from a council meeting

and contributed greatly to bringing about

effective changes in the governance of the

institute. We owe him a debt of gratitude.

Over the now 20 years this event will

have run we have been greatly aided

by T G Baynes Solicitors of Bexleyheath

and Henderson Chambers of London

who have not only generously sponsored

some of our lectures but have also

taken part in presenting them at no cost

to us. Over these years there have been

talks on the changes in the law, insolvency,

cybercrime, data protection, managing

the collection of accounts abroad,

mock meetings of creditors and mock trials.

This year’s event being the 20th will be a

mock trial on a question of liability where the

defendants allege that the person entering

into the contract did not have the authority

to do so. Our members say this is a common

problem they face almost on a daily basis and

naturally want to know where they stand.

It is worth mentioning too that such has

been the involvement of some members

of the legal profession in the CICM Turner

lectures that some are now Fellows of our

institute. These include John White, Chief

Clerk, Nazeer Chowdhury Barrister-at-law

and Toby Riley-Smith QC all of Henderson

Chambers. Others also presenting have

included Richard Mawrey QC and Peter

Susman QC, and at T G Baynes Senior

Partner Michael Clark has been one of the

most prominent supporters of our event. We

owe them all our thanks.

This year’s event, by popular request, will

take place at the Law Society, Chancery lane

on Friday

8 November commencing at 17:30 with

a reception till 18:30 and finishing at 20:00

after the “lecture” has finished. I hope as

many of you as are able will book to come

to what promises to be another entertaining

and informative event.

This year’s event

being the 20th will

be a mock trial

on a question of

liability where the

defendants allege

that the person

entering into the

contract did not

have the authority

to do so.



The Recognised Standard / / July/August 2019 / PAGE 45




CICM Trainer Pam Thomas FCICM, outlines her views on

credit and collections in today’s business environment.

TECHNOLOGY has changed

the way we work and deal

with everyday tasks but

credit management is one

of the few industries where

direct contact with both

internal and external customers can mean

the difference between success or failure

to collect hard earned sales revenue.

Education and upskilling staff is vital

for organisations to keep ahead of the

competition and in my role as a training

and development specialist I design and

deliver training courses to a range of

different industry sectors, shared service

centres and global organisations to assist

in developing their teams to achieve their


As credit professionals we work

alongside stakeholders, especially the sales

team, providing them with information

that may impact business in a negative

or positive way. This doesn’t happen by

chance, our role in the credit management

process requires us to build successful

and productive relationships and to some

extent, trust. Trust has to be earned and

demonstrated although I recall being

reminded daily by certain sales people

‘don’t do anything to upset the customer’! So

much for trust! I’m sure this will resonate

with many of you reading this article.

What have you noticed about

successful Credit and Collection

teams? Do they have anything in


One constant theme, and most important

in my view, is communication and the

relationship with internal and external

Recent training day with Getty Images

Pam is a highly skilled Credit Management trainer with extensive experience delivering

training courses at global level for the credit industry. Pam also has over 15 years of operational

credit management experience covering all credit roles. Using her practical and pragmatic

approach to delivering training she has a solid track record in helping businesses and

individuals achieve results. She assisted in developing a BA honours degree at University of

West London and subsequently lectured in the subject for ten years. Pam holds a post graduate

degree in education and training (PGCE), is a Fellow of the Chartered Institute of Credit

Management (FCICM) and is a CICMQ assessor.

Pam Thomas FCICM

The Recognised Standard / / July/August 2019 / PAGE 46


customers. Developing credit teams to perform at the highest

level requires motivation and promotion of ‘can do’ attitude.

Training can really help this by encouraging the right behaviours

expected to bring home the cash:

• excellent communication skills to build relationships

• working with sales to understand both business and customer

issues – risk vs reward

• being fair minded in their decision-making regarding escalation

• communicating concerns regarding the customer’s ability

to pay.

Building relationships is essential in today’s

professional world but can we train people to do this?

One of the training courses I run for CICM is ‘Psychology of

Collection’ which concentrates on this very subject. As humans

we are interested in what makes other people tick, not only in

personal relationships but with our customers. It helps to learn

a bit about yourself to improve communication, as well as being

more aware of the impact your behaviour has upon others, in

other words, developing emotional intelligence. During the

training I use ‘personality type’ quizzes and both practical and

fun exercises to demonstrate why people do the things they do –

especially when it comes to money or sales revenue.

What type of training is most regularly requested?

No matter what country or sector I go to I am frequently asked

to deliver Collection Training, but not just ‘off the shelf’ training.

Every company is different – organisational structure, credit

policy, competency levels, legislative requirements, cross-cultural

consideration and working procedures; all have to be taken into

account when designing an effective training programme.

What do you mean by Collection Training?

Very simply, developing skills to collect debts. This includes how

to prioritise collections, how to turn around negative situations

using positive language, increase the ability to deal with difficult

debts, assertiveness and building confidence. Very often I’m

requested to revitalise existing skills or to kick start collection

campaigns, especially in relation to CICMQ, the CICM quality

accreditation scheme and to remind teams to use the telephone

more often.

What communication method is better to collect money

– email or telephone?

There are pros and cons with both. We are all part of the ‘email

culture’; it’s fast but we may not always get a fast response.

Telephone collection plays a vital part in credit management as it

builds the relationship, adding a more personal approach which

can be better when dealing with complex matters that can only

be resolved through conversation.

Face-to-face training or virtual – which is better?

This is an ongoing debate in the learning and development

world. Face-to-face (F2F) training works better for some topics

than others especially when developing soft skills that need to

be practiced. Whereas virtual training (e-learning, webinars

etc) is good for delivering information to a wider audience and

consistent content. When it comes to credit and collections

training, I deliver by both methods but most enjoyable is F2F.

I can immediately see body language, answer any concerns,

and I can facilitate hands-on learning, sharing of information,

experience and most importantly get feedback as to how the

skills will be used.




Advanced Telephone Collection Skills

Collecting with Confidence

Consumer Credit Collections

Develop your Credit Control Skills

Essential Telephone Collection Techniques

General Money and Debt Advice

Getting started in Credit Control and Collections

Invoicing and Receipting

Negotiating and Influencing

Psychology of Collections

Psychology of Telephone Collections

Consumer Telephone Collections

Tracing the Gone Away

Consumer Telephone Collections and Negotiations

Working with your Customers – how to conduct a

customer visit

Getting your Message Across – confident

communications for credit and finance

International Collection Skills

Interpersonal Skills for Credit and Finance

CICM training programmes cover all levels and

functions of credit management and collections


Credit Control and Collections | Credit Risk | Litigation

Financial | Export | Management | General Business

Industry Specific

Programmes can be tailored or bespoke to ensure they

are relevant to current needs in support of business


Expert trainers share their knowledge and

experiences, tips, tools and techniques to help

improve effectiveness of the team.

• Delivery is designed to meet the needs of all sectors,

trade or consumer, using current best practice tools

and techniques.

• Cost effective training to upskill, motivate and

develop knowledge, skills and performance for a

maximum of 15 delegates per day.

• CPD hours are attributed to all training programmes.

Contact Julie Dalton, In-company Training

Adviser, to discuss your requirements.

E:, T: +44 (0)1780 722907.

The Recognised Standard / / July/August 2019 / PAGE 47





Knowledge Hub



Check your knowledge of key credit management,

collections and enforcement areas with these knowledge tests.


Equally valuable as a baseline test of your team’s knowledge on CICM Knowledge Hub, these multiple

choice questions support preparation towards CICM Level 2 and 3 awards and credit controller/

collections apprenticeships.

Each test includes the opportunity to undertake a timed mock exam which provides invaluable

practice in answering multiple choice exam questions. You can also work through the questions

in each syllabus area at your own pace. Feedback on the correct answer is provided. The questions

can be accessed anywhere/anytime. Learners who complete the evaluation and pass the mock can

access a completion certificate which counts towards your CPD.


• Credit Management (trade, export and consumer)

• Consumer Collections NEW programme

• Consumer Credit Management

• Taking Control of Goods

• Trade Credit Management

• Export Credit Management

• Business Environment

• Business Law

The knowledge test package can take up to three hours to complete,

including the pre-reading, full mock exam, working through individual

syllabus areas, course evaluation and CPD reflection.

You have access to the Knowledge test package for one year. During this

time you can complete the multiple choice questions for each syllabus area

all at once or over several visits to suit you. The full mock exam must be

completed in one go, however, it can be accessed more than once.

Course fees apply

CICM members £25 for 12 month licence *Non-members - £83

A previous advert included in the April edition of Credit Management

magazine incorrectly advertised that Knowledge Test questions

were included as part of Credit Academy virtual and evening classes. This

was an error and separate fees as above do apply.

The Taking Control of Goods test is part of an online course sponsored by the

High Court Enforcement Officers Association and is therefore offered free to

CICM members (Non-member fee - £50*).



Email: or

call 01780 722909 to purchase course

*Fees are subject to VAT

The The Recognised Standard / / / July/August / April 2019 2019 / PAGE / PAGE 48 48

Tailored Summer


and bespoke


training for

your training credit


10% discount

booked and delivered

by 31 August 2019.

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.


Our specialist team will manage everything from

start to finish. To find out more information contact –

T: 01780 722907: E: W:

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 The Recognised Standard / / / July/August / April 2019 2019 / PAGE / PAGE 49 49



Using a deposit order to continue with a claim

that has little prospect of success.

STRIKING out a claim is a

draconian step. Although

each case will turn on its own

facts, where claimants are

unrepresented it may be more

appropriate to apply for a

deposit order. Mbuise v Cygnet Healthcare

illustrates the risks.

Mr Mbuisa, acting in person, brought

a number of claims against his former

employer (Cygnet Healthcare Ltd),

claiming that he had been automatically

unfairly dismissed for raising health

and safety concerns. Mbuisa was also

alleging a number of other complaints,

including breach of contract, unauthorised

deduction from wages, holiday pay,

whistleblowing and race and disability

discrimination. Mbuisa did not have

Fowl play or acting in good faith?

ANTUZIS v DJ Houghton Catching Services Ltd

shows how the law applies personal liability

for breaches of the claimants’ employment

contracts. The claimants, mainly Lithuanian

nationals, worked for DJ Houghton as chicken

catchers in what were held as extremely

exploitative conditions. The claimants alleged

various breaches including failure to pay

minimum wage and overtime, being charged

unfair employment fees and accommodation

fees as well as failure to pay holiday pay. The

claimants also alleged that they were penalised

when they raised complaints about these


The judge found the evidence against

the company to be ‘overwhelming’ and the

claimants were successful in relation to all

of the alleged breaches of their employment

contracts. The preliminary issue for the High

Court was whether or not the corporate veil

could be pierced, and the sole director and the

company secretary could be personally liable.

The High Court considered provisions

Recent changes in employment standards

INCREASE in financial penalties:

employers who are found to be in breach

of workers’ rights can now be made to pay

up to £20,000 (increased from £5,000) as a

penalty by employment tribunals. This will

apply to breaches which occur after 6 April


AUTHOR – Gareth Edwards

legal representation and his claims were

‘poorly pleaded,’ leading to the need for

two preliminary hearings during which

the Employment Tribunal (ET) tried to

clarify Mbuisa’s claims. At the second

preliminary hearing, the ET considered

whether certain aspects of the claim

should be struck out and, after receiving

further written statements from Mbuisa,

proceeded to strike out the claim relating

to health and safety.

Mbuisa appealed the decision to strike

out his claim and the Employment Appeal

Tribunal (EAT) allowed the appeal. The

EAT emphasised that although it was

challenging for the ET to manage a case

where the claims were not properly set

out, the decision to strike out was not

National Living Wage: On 1 April 2019,

the National Living Wage for adults aged

25 or over increased to £8.21 per hour

(previously £7.83).

Itemised payslips: From 6 April 2019,

employers became required by law to

give itemised payslips, to all workers (in

the right approach. It said: ‘ was a

draconian step that robbed the claimant of

the right to have his complaint determined

on its merits’.

Under relevant legislation, the

Employment Tribunal can strike out a

claim at any point during the proceedings

if the claim is ‘scandalous, vexatious, or

has no reasonable grounds of success.’

Either party is able to make an application

for strike out, or the ET can do this of

their own initiative. Alternatively, under

a deposit order the ET has the ability to

order either party to pay a deposit of up

to £1,000 as a condition of continuing a

claim. The Judge will do this if they believe

that the argument being pursued, or any

part of it, has ‘little prospect of success.’

within the Companies Act, particularly the

duty for directors to act in good faith and in a

way that promotes the success of the company

and the duty to exercise reasonable care, skill

and diligence.

In deciding whether the directors had

acted in line with those duties, the High Court

considered that their actions had caused the

demise of the company including the loss of its

Gangmaster license and potentially irreparable

damage to its reputation. The High Court held

the directors personally liable based on the

evidence that they both ‘‘actually realised’’ that

their actions caused the company to breach its

contractual obligations to the claimants.

This case does not remove the protection

afforded to directors that act in good faith,

within the scope of their authority, and when

genuinely and honestly endeavouring to act

in the company’s best interests. A genuine

mistake would be unlikely to lead to personal

liability, even if that mistake causes the

company to breach contractual obligations.

addition to employees), which show what

hours they have worked and if there are any

variations in pay.

Gareth Edwards is a partner in the

employment team at Veale Wasbrough


The Recognised Standard / / July/August 2019 / PAGE 50



Your CICM lapel badge

demonstrates your commitment to

professionalism and best practice



If you haven’t received your badge





Tuesday, 3 September 2019

19:00 – 22:00

IT’S that time of year again when we

would like to invite you to our everpopular

Wine & Wisdom Branch

Event to be held on 3 September

2019. This will be held at the same

venue and in the same format as

last year.

This is where the Branch takes the

opportunity to raise money for a

local charity whilst, at the same

time, teams have the chance to

receive the coveted Kent Branch

shield and lay claim to the bragging

rights to call themselves the most

knowledgeable credit team in Kent!

The current holders of the shield

are Codswallop, captained by one of

the founding Kent Branch members,


The Assembly Rooms, 66 Preston

Street, Faversham, Kent ME13 8PG

who are perennial supporters of this

event. Hopefully, they will be back to

try and defend their title; however,

can you round up some colleagues

and friends to form a team capable

of toppling them?

There has always been great

interest in this event, and tables are

limited. Please book early to avoid


Cost: £60 for a table of 6 or £10 per

person for those who wish to come

along on the night and form a team.

Price includes nibbles and two

bottles of wine per table.

A charity fundraiser – making

generosity part of your growth



For more information please visit the

Kent branch page at

The Recognised Standard / / July/August 2019 / PAGE 51


Question Time

Asking the right questions will help you find the

best credit professional for your business.

AUTHOR – Karen Young

Karen Young


managers for small to

medium-sized enterprises

(SMEs) throws up

different challenges

to recruiting for larger

organisations. A smaller workforce has

the advantage of fostering a tight-knit

culture with a collaborative mindset, but

this can be disrupted if a new employee

isn’t the right fit for the organisation. As

such, it’s particularly important to make a

well-informed hiring decision for a credit

professional in an SME. Look out for these

three traits to find a candidate who will be

the right fit for your organisation.


Compared to a larger organisation

where staff and resources are aplenty,

staff employed in an SME might find

themselves working outside the direct

remit of their role for the benefit of the

organisation. Although the technical

knowledge of a credit professional will

keep much of their role within a financial

remit, working in a small, collaborative

culture will no doubt draw on their other

transferable skills. For this reason, it is

essential to hire professionals who are

passionate about the business and who

connect to its purpose. These individuals

will more readily go the extra mile when

the opportunity arises.

When interviewing potential

candidates, there are questions you

can ask which will help determine

their level of interest in your organisation.

These might include asking what

appeals to them about working in your

company, what they think sets your

organisation apart from others and why

they think they would be a good fit.

A genuinely interested candidate

will come prepared for an interview

with knowledge about your business

and questions which extend beyond

the financial implications of the role in

question. They may also bring their own

ideas to the table. Gesticulations, smiling

and eye contact are also likely signals that

the candidate is excited about what you

do as a business. Having said this, don’t be

put off if they are nervous or quiet at first

– this can be a sign that they are serious

about the opportunity. Put the candidate

at ease and focus on uncovering their

passion for your organisation.


Due to a skills landscape which is

constantly changing, upskilling workers

is more important now than it has ever

been. Continual learning is essential if

workers and organisations want to keep

up with the pace of change. While many

larger companies have

the budget to offer

widespread training

to their workforce,

SMEs may not have

access to the same

level of resources, so

a proactive approach

to learning is hugely

beneficial for any

candidate applying

to a credit role in a

smaller organisation.

To identify these

candidates, ask

questions like when

and how did you last

learn a new skill, what trends in your

area of expertise interest you, and how

do you keep your knowledge up-to-date?

You could also open a discussion around

the individual’s personal skills gaps and

what your organisation can do to support

upskilling in these areas.

Although there are a huge number of

accountancy and finance professionals

(82 percent) who, according the Hays

What Workers Want report 2018, said

they would only consider applying to

an organisation which invests in their

personal development, employers need

to do more to attract these candidates.

Only a third (33 percent) of employers

To appeal to credit

professionals who

will commit to

their upskilling,

employers in SMEs

are encouraged

to be transparent

about training


in this sector offer formal training

programmes as part of their induction

process, lower than the UK average of 42

percent. To appeal to credit professionals

who will commit to their upskilling,

employers in SMEs are encouraged to be

transparent about training opportunities

early in the recruitment process, for

example supporting CICM training and

professional qualifications.


SMEs rely on employee commitment

more than larger organisations, as the

smaller the workforce, the greater the

individual impact. As these organisations

sometimes don’t tend to offer the same

material rewards as a larger organisation,

the right candidate for an SME will

place greater importance in the purpose

and value of the organisation, and their

loyalty will stem from this.

Loyalty can be difficult to assess until

a candidate has been at the organisation

for a while, but a

hiring manager can

ask questions such

as what matters

most in a new role,

what motivates

you to perform,

and where do you

see yourself in five

years time? These

questions ascertain

how a candidate

might view their

progression in your

business and how

long they intend to


While the wrong hiring decision

may be felt more heavily in an SME

than in a larger organisation, hiring the

right person will also create an impact.

Consider asking the questions above and

keep an eye out for these traits to find a

credit professional who can slot into your

business, contribute interesting ideas

and ultimately help power your business


Karen Young is Director at Hays

Credit Management.

The Recognised Standard / / July/August 2019 / PAGE 52



How to set up a great one click link to the CICM website on

your mobile phone. Follow these four simple steps...

Step 1 Step 2 Step 3 Step 4

Go to > Click highlighted icon at bottom of screen > Click add to Home screen icon

> Click add icon at top right of screen > CICM icon will appear on your screen

Step 1 Step 2 Step 3 Step 4

Open in Google Chrome browser > Tap Menu button > Tap add shortcut to Home screen

> Icon will appear on your screen. Menu button on other Android devices may be displayed differently.


T: +44 (0)1780 722900 | WWW.CICM.COM

The Recognised Standard / / July/August 2019 / PAGE 53




Taking Control of Goods CPD package is the cost-effective way to remind yourself

of enforcement law and best practice regardless of how you initially qualified.

Access the definitive TCG Guidance, fully updated and

endorsed by CICM, HCEOA, LACEF and CEAA to ensure you

cover all important areas. Test yourself anytime, anywhere

and produce a CPD Certificate to prove to a judge that you

have kept up-to-date when you renew your certificate to act

as an enforcement agent. £53 + VAT, free to CICM members.

The 60 multiple choice questions are also perfect if you are

preparing for the TCG qualification required for your first

certificate. CICM runs a one-hour monthly online exam for

CICM members, for the Level 2 Award in Taking Control of

Goods in many towns and cities throughout the UK to reduce

work downtime. Find a convenient time before or after work.

Results on the day.

Visit to find out more and book.

This is the definitive guide for CPD and to

passing the exam.

Barrie Minney. Chair, Local Authority Civil Enforcement

Forum. Senior Enforcement Agent, Brighton and Hove

City Council

HCEOA are proud to have developed this Best Practice

Guidance for the industry and robust qualifying exam which

can be easily accessed near home or work.

Andrew Wilson. Chair, High Court Enforcement Officer Association & Solicitor

With HCEOA, CEAA and LACEF input, this CPD package provides perfectly balanced guidance and the CICM

Award will be seen as the qualification to study for if you want to become an Enforcement Agent.

James Bond. General Secretary, Civil Enforcement Agents Association

High Court Enforcement

Officers Association

The Recognised Standard / / July/August 2019 / PAGE 54


The Local Authority

Civil Enforcement Forum


Since being a

member I am kept

updated on latest changes

to laws and regulations,

good governance and

not forgetting the

wealth of knowledge.

Laural Jefferies, FCICM

The value



Laural Jefferies, FCICM

Head of Accounts Receivable,

Fashion Edge Ltd

Read more about her story and join your

credit community by visiting:

01780 722900


Do you know someone who would benefit from CICM membership? Or have

you considered applying to upgrade your membership? See our website for more detail, or call us on 01780 722903

Studying Members


Leana Albrighton

Lauren Atkinson

Hester Badenhorst

Jacobus Bakker

Vanessa Bedford

David Bergin

Guilherme Bissoli

Charlotte Box

Katherine Boyle

Gemma Brace

Paul Caputo

Antonio Carella

Lugan Chettiar

Calum Chittenden

Rachael Clark

Thomas Clark

Marc Cooper

Virginia Cooper

Jakub Czekiel

Amelia Davies

Manisha Devshi

Maria Fernanda Diaz Santos

Rachel Dillon

Belinda Du Preez

Michael Egginton

Jonathan Fancourt

Zsofia Gajdos

Catherine Gidwaney

Styliani Gketsiou

Piers Gooding

Emma Groves

Leanne Hart

Michelle Heighton

Nicola Helliadis

Diana Holmes

Paula Hutten

Jennifer James

Tamryn Jonathan

Donna Knecht

Karina Krohn Shaw

Julia Leketa

Kayleigh Lilley

Kevin Lloyd

Patricia Mathebula

James May

Tasniem McClaren

Lolo Sekgololo Mphahlele

Thato Mphuti

Nicola Oldroyd

Abena Osafo

Anthony Owen

Farid Patel

Samir Patel

Jayne Pollitt

Richard Price

Benita Prinsloo

Prudence Radebe

Anastasia Roppa

Anastasia Ruthmene

Danielle Saville

Brian Silcock

June Smith

Antoinette Snyman

Marina Sulik

Nikola Swift

Laura Tait

Victorine Tchokouleu Kammani

Kristian Tyson

Louise Vickers

Sara Vydya

Tomasz Waberski

Tegan Walker

Kathryn Wegrzyn

Kathy Williams

Joseph Williams

Laura Winward

Daniel Young

Member by exam

Donatella Santin MCICM(Grad)


Katie Adams

Simon Bell

Debbie Bick

Emma-Jayne Carruthers

David Cooke

Kelly Evans

Martin Hughes

Don Kilmartin

Michelle Machin

Laura Millington

David Payne

Jessica Raymond

Alexandra Redfern

Jackie Reid

Virginija Tesarcik

Jennifer Whitten


Syed Aunn Abbas ACICM

Alan Cooper ACICM

Vera Osuji ACICM

Michael Oughton ACICM

Mohamed Shimah Abudhullah ACICM


Katherine Chandler MCICM Abdalla Mohamed Ali MCICM Alan Norton MCICM Janelle Taborro MCICM


Matthew Subert FCICM

Nicholas Tiltman FCICM

Congratulations to our current members who have upgraded their membership

Upgraded members

Amir Ali FCICM

Christopher Billington FCICM

Lynette Fegan FCICM

Laural Jefferies FCICM

David Russell MCICM

Nandor Gyetvai ACICM

International Credit Manager at Harley-Davidson Motor Company

Imelda Kervin MCICM

“When I am looking at analysts’ CVs to join our team I look for those

who are involved with the Institute. Not only does it show a level of

understanding of credit but it also shows they have an interest in the

industry and are passionate.”

The Recognised Standard / / July/August 2019 / PAGE 56



In the 80th year of the CICM, the Fellows' Lunch was held at the iconic

Churchill War Rooms. More than 80 Fellows and guests gathered for lunch

and to celebrate the Fellows’ of the future, and the two winners of the

Meritorious Service Award Gary Baker FCICM(Grad) and David Kerr FCICM.

The Recognised Standard / / July/August 2019 / PAGE 58


Honesty is the best policy

East of England Branch

ON 16 May, it was very nearly standing

room only for the East of England Branch

as Branch Chairman Atul Vadher FCICM,

welcomed delegates from CICM East of

England and London Branches, and a

number of non CICM members to the

branch’s inaugural breakfast event at Hays’ Chelmsford

office. He introduced Branch Committee member Andrew

Martin of hosts Hays.

Branch Member Liam Hastings of Hastings & Co Solicitors,

talked through some interesting fraud case studies that he

had handled and he gave useful advice on what to look out

for before granting credit, and how to use various sources

of information, including Land Registry, Companies House

and credit colleagues. Liam knew that all at the meeting

were aware of the necessity of ensuring that the debtor had

sufficient funds before taking legal action against them but

said that some of his clients needed convincing of this. He

gave some tips on how to establish the means of the debtor.

Martin Eaves, Technical Director of Advanced Collection

Systems, described the work ACS were undertaking with

Hertfordshire University in using cognitive load verbal and

non-verbal clues to detect lies in debt collection, both for

real agents and for virtual agents. It was very possible to

detect lies by listening carefully to the voice of the debtor,

e.g. tonality changes, stuttering, hesitation, voice tremors,

and the language used. AI was being developed for virtual

agents which even picked up lies in text messages – an everincreasing

means of communication with debtors.

Both presentations were well received and led to detailed

discussions around the table.

The breakfast seminar feedback from everyone who

attended was exceptionally positive about the content, the

speakers and the venue, and the Branch would like to thank

Hays for their generous hospitality, and our speakers Liam

Hastings and Martin Eaves for generously giving up their

time to be part of the Branch’s first breakfast meeting.

Author: Richard Brown FCICM, Vice Chairman

Liam Hastings

(Hastings & Co) speaker

Martin Eaves

(ACS) speaker

Wet weather fails to dampen spirits

West Midlands


THE West Midlands annual golf day in

memory of Andrew Rippon was held on

2 May at Bromsgrove. The day went well

despite the weather turning a little wet.

The winning team was Direct Legal

Collections: Roger Lewis, Craig Povey

and Paul Atkins (pictured), and the

Best Individual Player was Paul Atkins


Dorian Franklin won the putting

competition and Peter Cartwright was

second by one point. Author: Susan Byrne

Best Individual Player

The winning team

The Recognised Standard / / July/August 2019 / PAGE 59


A full list of events can be found on our website

We are inviting all members to bring a colleague to a CICM membership event,

free of charge. Book online on our website


6 July

CICM Sheffield & District Branch


Grim Credit History Tour of Kelham Island. Join

the Sheffield branch and find out about the

Debtors Prison, the Workhouse and the Doss

House with local historian and CAMRA member

Brian Holmshaw.

Book online at or

email for more information.

Venue: Shalesmoor Tram Stop, Hillsbrough

Route-2 stops past university, Sheffield, S3 7EQ



7 July

CICM Kent Branch


Summer Social, Barbecue and Rounders. It’s that

time of year again when we hope the sun will

shine again on our popular summer socials. We

would like to invite you to our Branch Event to

be held on Sunday 7 July 2019 at the fantastic

setting of Sandy Acres Sport and Social Club.

Book online at or

email for more information.

Venue: Sandy Acres Sports and Social Club

Sandyhurst Lane, Ashford, TN25 4PE

3 September

CICM Kent Branch


Wine and Wisdom

It’s that time of year again when we would like

to invite you to our ever-popular ‘Wine & Wisdom’

Branch Event to be held on 3 September 2019.

This will be held at the same venue and in the

same format as last year.

Book online at or

email for more information.

Venue: The Assembly Rooms, 66 Preston Street,

Faversham, ME13 8PG


9 July

CICM Wessex Branch


Litigation and High Court Update – 2CPD. The

Wessex branch are excited to invite you to their

‘Litigation and High Court Update’ event. Please

see below the agenda for the morning.

Members and non-members will be made most

welcome at this FREE event.

Book online at or

email for more information.

Venue: Solent Hotel, Rookery Avenue, Whiteley,

Fareham PO15 7AJ United Kingdom



11 July

CICM East Midlands Branch


Galleries of Justice Ghost Tour.

Members and guests are invited to our annual

social event which this year is being held at

the Galleries of Justice in Nottingham’s historic

Lace Market. A tour of the haunted caves will be

followed by a buffet in the museum.

Book online at or

email for more information.

Venue: National Justice Museum

High Pavement, Nottingham, NG1 1HN

9 July

Forums International


Credit Professionals Forum

Book online at or

email for more information.

Venue: Coppid Beech Hotel

John Nike Way, Bracknell, RG12 8TF

The Recognised Standard / / July/August 2019 / PAGE 60

More reasons to be a member

Make connections and keep up-to-date

with our exclusive events.

10 July

Forums International


SAP User Group

Book online at or

email for more information.


Venue: Moore Stephens, London

10 July



Recruitment Credit Risk Forum (APSCo)

Book online at

or email for more


Venue: London

23 August




Book online at

or email for more


Venue: London

11 July

Credit Risk Forums


Polymer Distributors & Compounders

Book online at

or email for more


Venue: London

16 July

Forums International


Business & Office Supplies Credit Forum

Book online at

or email for more


Venue: Moore Stephens 35 Calthorpe Rd, B15 1TS

14 August




Book online at

or email for more


Venue: London

18 July

Credit Risk Forums


FMCG Credit Risk Forum (Food, drink, tobacco)

Book online at

or email for more


Venue: Cheltenham

23 July

Credit Risk Forums


Home Enhancements & DIY Credit Risk

Book online at

or email for more


Venue: Birmingham

15 August



Cosmetics & Fragrances

Book online at

or email for more


Venue: London

The Recognised Standard / / July/August 2019 / PAGE 61





London, up to £65,000

Servicing over 5 million customers, a rare opportunity

has arisen at a Fortune 100 business to lead its credit risk

function. You will need extensive experience in dealing

with credit risk analysis specifically with aviation clients.

With a strong emphasis on risk management strategies

and associated control structures, your responsibilities

include maximising the profitability of collections,

minimising exposure to risk and developing all systems.

This is a fantastic opportunity where you can take the

role in the direction you desire, achieve results and be

rewarded accordingly.

Ref: 3594208

Contact Akshay Caussy on 0203 465 0020

or email



Newark, £28,000 + study + benefits

A highly entrepreneurial service provider is looking

for a commercially minded credit specialist to take

responsibility for all aspects of credit, managing a team of

four in sales and purchase ledger. You will focus on credit

risk, managing customer credit limits, credit facilities,

escalation issues and aged debt including non-UK

customer accounts, daily bank reconciliations and sales

credit notes. Ideally, you will have varied B2B exposure

and strong communication and staff management skills.

Previous people management experience is essential. This

is a great opportunity to join a growing company and to

widen your exposure to other ledgers and commercial

areas of the business. Ref: 3134053

Contact Lisa Francis on 01522 313300

or email



West London, £24,000-£30,000

An established global media entertainment company

based in West London is looking for an experienced

AR Specialist on a contract basis. In this varied role, you

will be responsible for the end to end AR management

of your own portfolio of circa 500 clients. Your duties

will include raising invoices to strict deadlines (circa 70%

of the role), proactively chasing due payments, issuing

statements, posting and allocation of receipts, account

reconciliation and ongoing review of credit limits. To be

successful you will be available on short notice, excel in

a fast-paced environment and ideally have SAP system

experience. Ref: 3593774

Contact Julia Foster on 0203 465 0020

or email



Glasgow City Centre, c.£26,000

A multinational organisation is looking for an experienced

accounts receivable analyst on a temporary basis initially,

however there will be an opportunity to apply on a

permanent basis. Reporting into Senior Management,

you will be responsible for generating sales invoices,

reviewing and approving before processing, reconciling

revenue calculations, reporting on revenue findings and

maintaining data integrity and ensuring SOX procedures

are followed. The hours of work are Monday to Friday,

8am-5pm, and the organisation is easily accessible

by public transport.

Ref: 3606098

Contact Lauren Hamilton on 0141 212 3665

or email

The Recognised Standard / / July/August 2019 / PAGE 62



North Lanarkshire, £23,000-£25,000 + benefits

This industry-leading client is partnering with Hays

exclusively to recruit a sole credit controller on a

permanent basis. Reporting directly to the Financial

Director, you will be responsible for the full credit

function with tasks including, daily invoicing, dealing with

remittances, month end procedures including sending

statements, updating ledger daily, credit card reconciliation

and dealing with cheques and refunds. Ideally, you will be a

self-starter, experienced within these areas of credit control

and have the ability to build rapport. The hours of work

are Monday to Friday, 9am-5.30pm, and the organisation

has onsite parking available. Ref: 3595669

Contact Lauren Hamilton on 0141 212 3665

or email



Kettering, £23,000

A rapidly growing IT re-seller business is looking for a

credit controller to join the accounts department. As well

as covering the usual credit control requirements such as

building relations with clients to obtain outstanding debt,

the role will also involve liaising with suppliers to ensure

any potential issues are dealt with, so the credit process

can continue to run smoothly. This is a great opportunity

to join an exciting business which has become a leader

in its field and is looking to continue to grow.

Ref: 3603359

Contact Alex Smith on 01604 621733

or email



Solihull, £22,000-£24,000 + benefits

A growing financial services company in the midlands,

who specialise in offering bespoke packages to support

growing organisations, are looking for a credit controller

to join its team. This is an exciting time for the company

as several new products are launching. The role is

high volume and fast paced, so you must be driven to

hit targets. In return, you will be offered training and

development as well as study support for the CICM.

The Group Credit Manager is a CICM Fellow Member

who strives on bringing people through.

Ref: 3522639

Contact Peter Kidd on 0121 212 1814

or email



Carlisle, up to £19,000 + bonuses

This reputable, national company is looking for a part

time credit controller to support its busy team. This is a

temporary role with the potential to become permanent

after three months. The role will have a strong emphasis on

pursuing outstanding debts whilst developing professional

relationships with clients of all sizes. You will be reliable,

able to demonstrate excellent attention to detail, multitask

and work to deadlines. This is a fantastic opportunity

for an individual who has experience in developing and

maintaining professional relationships with customers

and suppliers. Ref: 3598875

Contact Katie Higgins on 01228 515 795

or email

This is just a small selection of the many

opportunities we have available for credit

professionals. To find out more email or visit us online.

The Recognised Standard / / July/August 2019 / PAGE 63


CICM Directory of Services




Atradius Collections Ltd

3 Harbour Drive,

Capital Waterside,

Cardiff Bay, Cardiff, CF10 4WZ

United Kingdom

T: +44 (0)2920 824700


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 (

Controlaccount Plc

Compass House, Waterside, Hanbury Road, Bromsgrove,

Worcestershire B60 4FD

Telephone: 01527 549 522



Controlaccount Plc provides an efficient, effective and ethical

commercial debt recovery service focused on improving business

cash flow whilst preserving customer relationships and established

reputations. Working with leading brand names in the UK and

internationally, we deliver a bespoke service to our clients – utilising

the Late Payment of Commercial Debts Act (2013) to ensure you

receive 100% of monies owed or on a no collect, no fee agreement.

Our clients also benefit from our in-house international trace and

legal service departments and have complete transparency and

up to the minute information on any accounts placed with us for

recovery through our online debt management system, ClientWeb.


Premium Collections Limited

3 Caidan House, Canal Road

Timperley, Cheshire. WA14 1TD

T: +44 (0)161 962 4695



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


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

Blaser Mills Law

40 Oxford Road,

High Wycombe,

Buckinghamshire. HP11 2EE

T: 01494 478660/478661

E: Jackie Ray or

Gary Braathen


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:


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...”

Yuill + Kyle

Capella, 60 York Street, Glasgow, G2 8JX, Scotland, UK

T: 0141 572 4251



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



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

Wayne Whitford – Director

M: +44 (0)7834 748 183 T : +44 (0)1992 663 399

E :


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



Missenden Abbey, Great Missenden, Bucks, HP16 0BD

T: 01494 790600



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.

The Recognised Standard / / July/August 2019 / PAGE 64





Company Watch

Centurion House, 37 Jewry Street,


T: +44 (0)20 7043 3300



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


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.


The Sir John Peace Building, Experian Way

NG2 Business Park, Nottingham NG80 1ZZ

T: 0844 481 9920


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.

Graydon UK

66 College Road, 2nd Floor, Hygeia Building, Harrow,

Middlesex, HA1 1BE

T: +44 (0)208 515 1400



With 130+ years of experience, Graydon is a leading provider of

business information, analytics, insights and solutions. Graydon

helps its customers to make fast, accurate decisions, enabling them

to minimise risk and identify fraud as well as optimise opportunities

with their commercial relationships. Graydon uses 130+ international

databases and the information of 90+ million companies. Graydon

has offices in London, Cardiff, Amsterdam and Antwerp. Since 2016,

Graydon has been part of Atradius, one of the world’s largest credit

insurance companies.



SmartSearch, Harman House,

Station Road,Guiseley, Leeds, LS20 8BX

T: +44 (0)113 238 7660

E: W:

KYC, AML and CDD all rely on a combination of deep data with broad

coverage, highly automated flexible technology with an innovative

and intuitive customer interface. Key features include automatic

Worldwide Sanction & PEP checking, Daily Monitoring, Automated

Enhanced Due Diligence and pro-active customer management.

Choose SmartSearch as your benchmark.




Cedar Rose

3, Georgiou Katsonotou Street,3036, Limassol, Cyprus

E: T: +357 25346630


Cedar Rose has been globally recognised as the expert for

credit reports, due diligence and data for the Middle East

and North African countries since 1997. We now cover over

170 countries with the same high quality, expert analysis

and attention to detail we are well-known and trusted for.

Making best use of artificial intelligence and technology, Cedar

Rose has won several awards including Credit Excellence

& European Business Awards. Our website is a one-stopshop

for your business intelligence solutions. We are the

ultimate source; with competitive prices and friendly customer

service - whether you need one or one thousand reports.



T: +44 (0) 1302 513 000

E: sales@keyivr W:

Key IVR are proud to have joined the Chartered Institute of Credit

Management’s Corporate partnership scheme. The CICM is a

recognised and trusted professional entity within credit management

and a perfect partner for Key IVR. We are delighted to be providing

our services to the CICM to assist with their membership collection

activities. Key IVR provides a suite of products to assist companies

across the Europe with credit management. Our service is based

around giving the end-user the means to make a payment when and

how they choose. Using automated collection methods, such as a

secure telephone payment line (IVR), web and SMS allows companies

to free up valuable staff time away from typical debt collection.


T: +31 (0)88 256 66 66



Onguard is specialist in credit management software and 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.

Intelligent tools that can seamlessly be interconnected and offer

overview and control of the payment process, as well as contribute to

a sustainable customer relationship.

In more than 50 countries the Onguard platform is successfully used

for successful credit management.

Tinubu Square UK

Holland House, 4 Bury Street,

London EC3A 5AW

T: +44 (0)207 469 2577 /



Founded in 2000, Tinubu Square is a software vendor, enabler of the

Credit Insurance, Surety and Trade Finance digital transformation.

Tinubu Square enables organizations across the world to significantly

reduce their exposure to risk and their financial, operational and technical

costs with best-in-class technology solutions and services. Tinubu

Square provides SaaS solutions and services to different businesses

including credit insurers, receivables financing organizations and

multinational corporations.

Tinubu Square has built an ecosystem of customers in over 20 countries

worldwide and has a global presence with offices in Paris, London, New

York, Montreal and Singapore.

Credica Ltd

Building 168, Maxell Avenue, Harwell Oxford, Oxon. OX11 0QT

T: 01235 856400E: W:

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.

Data Interconnect Ltd

Units 45-50

Shrivenham Hundred Business Park

Majors Road, Watchfield

Swindon, SN6 8TZ

T: +44 (0)1367 245777



Data Interconnect provides Intelligent Invoice to Cash Automation.

Corrivo Billing, Collection and Dispute modules seamlessly integrate

for a rich, end-to-end A/R user experience. Branded customer

portals, real-time dashboards, advanced reporting, available in 15

languages as standard; are some of the reason why global brands

choose Data Interconnect.

Proud supporters



Corbett House, Westonhall Road, Bromsgrove, B60 4AL

T: +44 (0)1527 872123 E:


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.

The Recognised Standard / / July/August 2019 / PAGE 65 continues on page 66 >


CICM Directory of Services







T: +44 7399 406889



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.


15 Statton Street, Mayfair,

London W1J 8LQ

T: 07799 692193

E: W:

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: +44 (0)1246 555055



Forums International Ltd have been running Credit and Industry

Forums since 1991. We cover 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.


Redwood Collections Ltd

0208 288 3555

Airport House, Purley Way, Croydon, CR0 0XZ

“Redwood Collections offers a complete portfolio of debt collection

services ranging from sensitive client-debtor mediation through to

legal and insolvency action.

Incorporated in 2009, we are pleased to represent in excess of

11,000 clients. Whatever your debt collection needs, we have the

expertise and resources to deliver a fast, efficient and cost-effective


identeco – Business Support Toolkit

Compass House, Waterside, Hanbury Road, Bromsgrove,

Worcestershire B60 4FD

Telephone: 01527 549 531



identeco’s Business Support Toolkit is an online portal connecting

its subscribers to a range of business services that help them to

engage with new prospects, understand their customers and

mitigate risk. Annual subscription is £79.95 per year for unlimited

access. Providing company information and financial reports,

director and shareholder structures as well as a unique financial

health rating, balance sheets, ratio analysis, and any detrimental

data that might be associated with a company. Other services also

included in the subscription include a business names database,



Tel: 03700 86 3000 W:

Shoosmiths’ highly experienced team will work closely with credit

teams to recover commercial debts as quickly and cost effectively as

possible. We have an in depth knowledge of all areas of debt recovery,


• Pre-litigation services to effect early recovery and keep costs down

• Litigation service

• Post-litigation services including enforcement

• Insolvency

As a client of Shoosmiths, you will find us quick to relate to your goals,

and adept at advising you on the most effective way of achieving them.



Serrala UK Ltd, 125 Wharfdale Road

Winnersh Triangle, Wokingham

Berkshire RG41 5RB

E: W:

T: +44 1182 070 464 M: +44 7802 881 797

Serrala optimizes the Universe of Payments for organisations seeking

efficient cash visibility and secure financial processes. As an SAP

Partner, Serrala supports over 3,500 companies worldwide. With

more than 30 years of experience and thousands of successful

customer projects, including solutions for the entire order-tocash

process, Serrala provides credit managers and receivables

professionals with the solutions they need to successfully protect

their business against credit risk exposure and bad debt loss.


Dun & Bradstreet

Marlow International, Parkway Marlow

Buckinghamshire SL7 1AJ

Telephone: (0800) 001-234 Website:

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:


Sam Townsend Head of Marketing

Northern Europe Esker Ltd.

T: +44 (0)1332 548176 M: +44 (0)791 2772 302


LinkedIn: Esker – Northern Europe

Twitter: @EskerNEurope

Esker’s Accounts Receivable (AR) solution removes the all-toocommon

obstacles preventing today’s businesses from collecting

receivables in a timely manner. From invoice delivery to cash

application, Esker automates each step. Esker's automated AR

system powered by TermSync helps companies modernise without

replacing their core billing and collections processes. By simply

automating what should be automated, customers get the post-sale

experience they deserve and your team gets the tools they need.


Gravity London

Floor 6/7, Gravity London, 69 Wilson St, London, EC21 2BB

T: +44(0)207 330 8888. E:


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.

Bottomline Technologies

115 Chatham Street, Reading

Berks RG1 7JX | UK

T: 0870 081 8250 E:


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.

American Express

76 Buckingham Palace Road,

London. SW1W 9TQ

T: +44 (0)1273 696933


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.

The Recognised Standard / / July/August 2019 / PAGE 66


We have been regular advertisers

in Credit Management (CM)

magazine for more than ten

years and have found it to be an

excellent medium for raising our

brand awareness and securing

major contracts.

By way of example, one of the

largest logistics firms in the world

approached us for our services

having seen our profile in CM.

This led to a very successful

relationship and gained us

significant credibility.

We would recommend advertising

in CM magazine to other



Portfolio Credit Control

1 Finsbury Square, London. EC2A 1AE

T: 0207 650 3199



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.




Hays Credit Management

107 Cheapside, London, EC2V 6DN

T: 07834 260029



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.



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



To find out more about flexible options

to gain CICMQ accreditation

E: T: 01780 722900

The Recognised Standard / / July/August 2019 / PAGE 67

Fast, fair and effective


FAST. 48 hour average judgment transfer and very prompt

attendance after notice expiry.

FAIR. Robust vulnerability policies and nationally accredited

training for all our teams.

EFFECTIVE. The largest team of authorised HCEOs and

highly trained enforcement agents.

With our impressive industry leading recovery rates,

nationwide coverage and dedicated Client Services team,

you can trust HCE Group to collect more for you and

your clients.

Instruct us for

Enforcement of judgments and tribunal awards

Eviction of activists, squatters and travellers

Eviction of commercial and residential tenants

Commercial landlord services

Tracing and process serving

Vehicle recovery and enquiry

To find out more or instruct us

08450 999 666

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