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<strong>CM</strong><br />

JULY / AUGUST <strong>2019</strong> £12.50<br />



Below the<br />

waterline<br />

Pressure grows on<br />

the Pre-Pack Pool<br />

80<br />

YEARS<br />

Sean Feast FCI<strong>CM</strong><br />

speaks to Court<br />

Enforcement Services<br />

Pages 16-19<br />

Growing concern<br />

around online<br />

card fraud<br />

Pages 24-25

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24<br />




JULY/AUGUST <strong>2019</strong><br />

www.cicm.com<br />


30<br />



9 – COVER STORY<br />

Stuart Hopewell FCI<strong>CM</strong> takes a closer<br />

look at why engagement with the<br />

Pre-Pack Pool is at an all-time low.<br />

16 – INTERVIEW<br />

Sean Feast FCI<strong>CM</strong> speaks to the<br />

founders of Court Enforcement<br />

Services.<br />

24 – FRAUD SPECIAL<br />

Online card fraud is on the rise but a<br />

new authentication process could make<br />

the difference.<br />

30 – OPINION<br />

Artificial Intelligence: can credit<br />

analysis be accurate when no real data<br />

is available?<br />

40 – TECHNICALLY<br />


Members of the CI<strong>CM</strong> Think Tank reveal<br />

the tech they cannot be without.<br />

50 – HR MATTERS<br />

Gareth Edwards explores the most<br />

recent employment tribunal cases.<br />

52 – QUESTION TIME<br />

SMEs need to ask the right questions to<br />

get the best candidates.<br />

CI<strong>CM</strong> GOVERNANCE<br />

16<br />


SEAN FEAST FCI<strong>CM</strong><br />

President Stephen Baister FCI<strong>CM</strong> / Chief Executive Philip King FCI<strong>CM</strong> CdipAF MBA<br />

Executive Board Pete Whitmore FCI<strong>CM</strong> – Chair / Debbie Nolan FCI<strong>CM</strong>(Grad) – Vice Chair<br />

Glen Bullivant FCI<strong>CM</strong> – Treasurer / Larry Coltman FCI<strong>CM</strong>, Victoria Herd FCI<strong>CM</strong>(Grad), Bryony Pettifor FCI<strong>CM</strong>(Grad)<br />

Advisory Council Sarah Aldridge FCI<strong>CM</strong>(Grad) / Laurie Beagle FCI<strong>CM</strong> / Kim Delaney-Bowen MCI<strong>CM</strong> / Glen Bullivant FCI<strong>CM</strong><br />

Lauren Carter FCI<strong>CM</strong> / Larry Coltman FCI<strong>CM</strong> / Victoria Herd FCI<strong>CM</strong>(Grad) / Philip Holbrough MCI<strong>CM</strong> / Laural Jefferies MCI<strong>CM</strong><br />

Diana Keeling FCI<strong>CM</strong> / Martin Kirby FCI<strong>CM</strong> / Christelle Madie FCI<strong>CM</strong> / Julie-Anne Moody-Webster MCI<strong>CM</strong><br />

Debbie Nolan FCI<strong>CM</strong>(Grad) / Ute Ogholoh MCI<strong>CM</strong> / Bryony Pettifor FCI<strong>CM</strong>(Grad) / Allan Poole MCI<strong>CM</strong> / Phil Rice FCI<strong>CM</strong><br />

Chris Sanders FCI<strong>CM</strong> / Paul Taylor MCI<strong>CM</strong> / Pete Whitmore FCI<strong>CM</strong>.<br />

View our digital version online at www.cicm.com. Log on to the Members’<br />

area, and click on the tab labelled ‘Credit Management magazine’<br />

Credit Management is distributed to the entire UK and international CI<strong>CM</strong><br />

membership, as well as additional subscribers<br />

Reproduction in whole or part is forbidden without specific permission. Opinions expressed in this magazine do<br />

not, unless stated, reflect those of the Chartered Institute of Credit Management. The Editor reserves the right to<br />

abbreviate letters if necessary. The Institute is registered as a charity. The mark ‘Credit Management’ is a registered<br />

trade mark of the Chartered Institute of Credit Management.<br />

Any articles published relating to English law will differ from laws in Scotland and Wales.<br />

Publisher<br />

Chartered Institute of Credit Management<br />

The Water Mill, Station Road, South Luffenham<br />

OAKHAM, LE15 8NB<br />

Telephone: 01780 722900<br />

Email: editorial@cicm.com<br />

Website: www.cicm.com<br />

<strong>CM</strong>M: www.creditmanagement.org.uk<br />

Managing Editor<br />

Sean Feast FCI<strong>CM</strong><br />

Deputy Editor<br />

Alex Simmons<br />

Art Editor<br />

Andrew Morris<br />

Telephone: 01780 722910<br />

Email: andrew.morris@cicm.com<br />

Editorial Team<br />

Imogen Hart, Rob Howard and Iona Yadallee<br />

Advertising<br />

Grace Ghattas<br />

Telephone: 020 3603 7946<br />

Email: grace@cabbell.co.uk<br />

Printers<br />

Stephens & George Print Group<br />

<strong>2019</strong> subscriptions<br />

UK: £112 per annum<br />

International: £145 per annum<br />

Single copies: £12.50<br />

ISSN 0265-2099<br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 3


Check-out the<br />

double standards<br />

Sean Feast FCI<strong>CM</strong><br />

Managing Editor<br />

I<br />

had to chuckle last month when I<br />

was alerted to an article that said<br />

that six grocery retailers, including<br />

Aldi, Lidl, and Morrisons, had<br />

been contacted by the Business,<br />

Energy and Industrial Strategy<br />

(BEIS) Committee to establish why they<br />

have not signed the Prompt Payment Code<br />

(PPC).<br />

Rachel Reeves MP, chair of the<br />

committee, had apparently sent letters<br />

to the heads of each of the companies<br />

to question why they had not become<br />

signatories of the PPC, the voluntary<br />

code which sets standards for payment<br />

practices for suppliers and is, as we know,<br />

administered for BEIS by the CI<strong>CM</strong>.<br />

Other retailers contacted by Reeves<br />

included Iceland, Ocado and B&M.<br />

Currently only half of the 12 regulated<br />

grocery retailers in the UK – Asda, Co-op,<br />

Marks & Spencer, Sainsbury’s, Tesco and<br />

Waitrose – are listed as signatories.<br />

In the letters, Reeves has written: “Only<br />

six of the 12 regulated retailers under the<br />

Groceries Supply Code of Practice are<br />

signatories to the Prompt Payment Code,<br />

and I am writing to ask you why (the<br />

retailer) is not one of those signatories?”<br />

So why was I chuckling? Surely this<br />

is a sensible and praiseworthy move by a<br />

respected committee and chair intent on<br />

promoting best practice and improving<br />

the lot of small businesses in the supply<br />

chain? Surely all good retailers who are<br />

committed to their respective supply<br />

chains should most certainly be evidencing<br />

that commitment by being signatories to<br />

the Code?<br />

I was laughing because this is the very<br />

same Rachel Reeves who back in November<br />

of 2018 wrote to the Small Business<br />

Minister, Kelly Tolhurst, and described<br />

the Prompt Payment Code as being ‘wholly<br />

ineffective’. If Ms Reeves truly believes that<br />

the PPC is ‘wholly ineffective’ then why<br />

should the retailers she has now written to<br />

pay any heed to her words, and why would<br />

she insist that they should join? It’s like<br />

telling someone a restaurant is rubbish one<br />

minute, and then in the next breath asking<br />

them why they haven’t eaten there yet!<br />

I don’t mind a few inconsistencies in<br />

what our politicians do and say. I don’t mind<br />

politicians who also change their minds<br />

once given the full facts or an opposite view.<br />

Perhaps that is what has happened here?<br />

Perhaps Ms Reeves’ immaculate conversion<br />

from arch detractor to staunch supporter is<br />

because she has now been properly briefed<br />

and understands the purpose of the Code<br />

and what it can achieve.<br />

And perhaps, just perhaps, it will be a<br />

lesson to others to do their research before<br />

opting for what seems like petty political<br />

point-scoring (nice alliteration – my old<br />

English beak would be most impressed)<br />

that does a disservice to all those who<br />

are genuinely committed to breaking the<br />

scourge of late payment.<br />

It’s like telling someone a restaurant<br />

is rubbish one minute, and then in<br />

the next breath asking them why<br />

they haven’t eaten there yet!<br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 4

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<strong>CM</strong>NEWS<br />

A round-up of news stories from the<br />

world of consumer and commercial credit<br />

Written by – Sean Feast FCI<strong>CM</strong> and Alex Simmons<br />

CI<strong>CM</strong> highlights success of Code<br />

in changing payment behaviour<br />

FIFTEEN of the seventeen<br />

businesses highlighted<br />

for poor payment practice<br />

in May have filed action<br />

plans or are preparing<br />

submissions to improve their treatment<br />

of smaller suppliers, demonstrating the<br />

effectiveness of the Prompt Payment<br />

Code.<br />

Philip King FCI<strong>CM</strong>, Chief Executive<br />

of the Chartered Institute of Credit<br />

Management (CI<strong>CM</strong>), says firms have<br />

responded positively to approaches by<br />

the CI<strong>CM</strong> and the PPC Compliance Board:<br />

“Businesses clearly see the value in<br />

being a signatory to the Code and, more<br />

importantly, the potential damage to<br />

their reputation if they fail to honour the<br />

commitments that the Code demands.<br />

“What is most pleasing is the innovative<br />

way in which firms are addressing<br />

the challenge and demonstrating best<br />

practice.”<br />

New initiatives which show best<br />

practice have come from:<br />

* Engie Services Ltd – which has<br />

launched a new policy to mandate the<br />

use of purchasing cards for all purchases<br />

of £500 or less, giving suppliers<br />

immediate payment and reducing<br />

invoice volumes by 20 percent.<br />

* Kellogg Brown & Root Limited –<br />

which is embarking on an awareness<br />

programme and further training for all<br />

staff with a procurement role to reinforce<br />

the need to settle more than 95 percent of<br />

all supplier invoices within 60 days.<br />

* DHL – which is re-setting its payment<br />

runs to a full ten days below the<br />

contracted payment terms (to 50 days)<br />

to guarantee that suppliers are paid early<br />

or on time. This overcomes a previous<br />

complication with payment runs being<br />

fixed on a particular date in every month,<br />

and what happens when a date coincides<br />

with a weekend or bank holiday.<br />

“The purpose of the Code has always<br />

been to promote a culture of best practice<br />

in the treatment of suppliers, and this is<br />

proof positive that the Code is working,”<br />

Philip added.<br />

Companies who sign up to the Code,<br />

administered by the CI<strong>CM</strong> on behalf of<br />

Government, pledge to uphold its best<br />

practice for payment standards. This<br />

includes the commitment to pay 95<br />

percent of all supplier invoices within 60<br />

days.<br />

The Prompt Payment Code<br />

Compliance Board, chaired by Philip<br />

King and including the Small Business<br />

Commissioner Paul Uppal, regularly<br />

reviews the data reported by large<br />

companies under the Payment Practices<br />

Reporting Regulations to ensure they are<br />

upholding their commitments.<br />

Businesses suspended from the<br />

Code are invited to produce an action<br />

plan setting out how they will achieve<br />

compliance within an agreed period.<br />

When they have achieved compliance<br />

their status as a Code signatory is<br />

reinstated. If they do not, they are<br />

removed.<br />

Philip says the actions of a minority<br />

who continue to treat their suppliers<br />

unfairly, however, remains a concern:<br />

“We will continue to challenge<br />

signatories to the Code if the obligatory<br />

Payment Practice Reporting data, or a<br />

specific challenge from a supplier or<br />

representative body, suggests that their<br />

practices are not compliant with the<br />

Code.”<br />

Meanwhile, Stephen Bowcott,<br />

Chief Executive of John Sisk, defended<br />

his company’s removal, claiming to<br />

be ‘one of the best payers in the<br />

industry’. He said that as many as half<br />

of the ‘small ticket’ invoices sent to the<br />

firm had some kind of error and that his<br />

company ‘did not have a problem’ with<br />

late payment. John Sisk reported 72<br />

percent of invoices were paid within 60<br />

days in its last PPR submission to end of<br />

December 2018.<br />

“Whereas incorrect invoices and<br />

disputes are always a cause of late<br />

payment, they are also used by some<br />

firms as a convenient explanation that<br />

can sometimes be exploited,” Mr King<br />

added. “Either way, they highlight the<br />

need for smaller firms to adopt bestpractice<br />

credit management and for<br />

larger firms to take responsibility in<br />

helping the supply chain to understand<br />

the process they need to follow to get<br />

paid on time.”<br />

STOP PRESS: The CI<strong>CM</strong> has welcomed<br />

proposed new powers for the Small<br />

Business Commissioner to tackle<br />

late payment, including a further<br />

strengthening of the Prompt Payment<br />

Code and a new fund to encourage<br />

businesses to use technology to<br />

simplify invoicing, payment and credit<br />

management.<br />

A full report in our next issue.<br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 6

StepChange supports calls to<br />

revisit social tariffs<br />

STEPCHANGE Debt Charity says that<br />

vulnerable customers of energy firms are<br />

still being let down, and that clients who<br />

had an additional vulnerability were more<br />

likely to be behind on their household bills<br />

than clients who did not.<br />

Responding to a report by the Commission<br />

for Customers in Vulnerable Circumstances,<br />

Peter Tutton, Head of Policy at StepChange<br />

Debt Charity, says that there is a clear<br />

link between vulnerability and financial<br />

difficulty: “The Commission are right to<br />

call for Ofgem and suppliers to revisit the<br />

question of social tariffs. We believe there<br />

Manufacturing slump<br />

THE UK manufacturing sector slipped<br />

into contraction in May – the first time<br />

it has done so since <strong>July</strong> 2016, according<br />

to the latest PMI. Manufacturers reported<br />

increased difficulties convincing clients<br />

to commit to new contracts, reflecting<br />

already high levels of inventories following<br />

stockpiling activity in the run-up to the<br />

original Brexit date. The IHS Markit/CIPS<br />

UK Manufacturing Purchasing Managers’<br />

Index slumped to 49.4 in May, down on 53.1<br />

in April and against the neutral reading of<br />

50. ihsmarkit.com<br />

is a need for a wider Government review<br />

of fuel affordability as part of a strategy to<br />

ensure that no household with a vulnerable<br />

person has to resort to credit or fall into<br />

debt to pay their bills. “We are also pleased<br />

to see the Commission’s support for the<br />

Government’s breathing space scheme,<br />

which we have long campaigned for, as<br />

well as the recognition that bailiffs should<br />

never be used to chase debts from clients in<br />

vulnerable circumstances.” stepchange.org<br />

StepChange’s Phil Andrew discusses his<br />

first year in charge of the Debt Charity in a<br />

news special on page 10.<br />

Triple jeopardy<br />

INVESTMENT scams involving<br />

cryptocurrencies such as bitcoin and foreign<br />

currency trading have tripled in a year, with<br />

the average victim losing £14,600, according<br />

to the Financial Conduct Authority (FCA).<br />

The regulator and the police-run body<br />

Action Fraud are warning the public to be<br />

wary, with the scams typically promising<br />

high returns and carried out via bogus<br />

online trading platforms. More than £27<br />

million was lost to frauds involving socalled<br />

crypto-assets and forex investments<br />

in 2018-19, said the FCA. fca.org.uk<br />

ACCA calls for increased audit quality<br />

PROPOSALS to deal with the perceived<br />

audit expectation gap need to be framed<br />

around increasing audit quality for the<br />

benefit of capital markets and economies,<br />

says ACCA in its official response to the Sir<br />

Donald Brydon’s independent review.<br />

Consistent with feedback to previous<br />

reviews, including those conducted by<br />

the Business Energy and Industrial Skills<br />

Select Committee, Sir John Kingman and<br />

the Competition and Markets Authority<br />

(<strong>CM</strong>A), ACCA has again emphasised its<br />

long-held belief that any new proposals<br />

must focus primarily on increasing audit<br />

quality.<br />

ACCA believes that change is needed,<br />

but that the successful reform of audit<br />

is dependent on the implementation of<br />

reforms across the wider reporting and<br />

governance ecosystem.<br />

Maggie McGhee, ACCA’s Executive<br />

Director – Governance and author of<br />

ACCA’s response says audit can ultimately<br />

only meet the needs of the user if<br />

reporting requirements also evolve to<br />

meet their needs: “The responsibilities<br />

and accountability of directors and audit<br />

committees are critical and those who fall<br />

short of these responsibilities must be held<br />

properly to account.” accaglobal.com<br />

>NEWS<br />

IN BRIEF<br />

Plastic meltdown<br />

MORE than seven million people in the<br />

UK were left unable to use their debit<br />

or credit card due to an IT or technical<br />

system crash in the last year, according to<br />

research from Which?. A survey of more<br />

than 2,000 people found one in seven<br />

respondents were left unable to use their<br />

card due to an outage in the last year –<br />

with half of them (49 percent) saying they<br />

couldn’t pay for goods and services at the<br />

point of sale as a result. Some one in 10 (11<br />

percent) of those left unable to use their<br />

card or make a payment told Which? they<br />

suffered a financial penalty as a result<br />

and the same proportion (nine percent)<br />

said their credit score was damaged<br />

because they missed a bill or payment.<br />

which.co.uk<br />

Home and Away<br />

A former customer services officer at<br />

Stockport Homes Limited (SHL) has been<br />

found guilty of unlawfully accessing<br />

personal data. Wendy Masterson spent<br />

time looking at anti-social behaviour<br />

cases on SHL's case management system<br />

when she wasn’t authorised to do so. She<br />

accessed the system a total of 67 times<br />

between January and December 2017.<br />

Masterson pleaded guilty to unlawfully<br />

accessing personal data in breach of<br />

s55 of the Data Protection Act 1998 at<br />

Stockport Magistrates Court.<br />

ico.org.uk<br />

New Ombudsman<br />

Chair<br />

BARONESS Zahida Manzoor CBE has<br />

been appointed Chair of the Financial<br />

Ombudsman Service. The appointment<br />

was made by the FCA Board with the<br />

approval of HM Treasury. Baroness<br />

Manzoor will take up the role on 2 <strong>August</strong><br />

<strong>2019</strong>, succeeding Sir Nicholas Montagu<br />

who is stepping down after more than<br />

seven years in post. Baroness Manzoor<br />

was appointed to the House of Lords in<br />

2013, where she served as House of Lords<br />

Government Whip and Minister. Before<br />

joining the Lords, she served as The<br />

Legal Services Ombudsman for England<br />

and Wales and The Legal<br />

Services Complaints<br />

Commissioner.<br />

financialombudsman.org.uk<br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 7

NEWS<br />

IN BRIEF<br />

Financial union<br />

FINAL analysis of data collated by the EU<br />

Federation for the Factoring and Commercial<br />

Finance Industry (EUF) shows that in 2018<br />

factoring and commercial finance volumes<br />

in the EU grew overall by 7.9 percent to €1.73<br />

trillion, 80 percent of which was domestic<br />

business and 20 percent international. This<br />

equates to more than €240 billion of funding<br />

that is supporting around 220,000 European<br />

businesses. euf.eu.com<br />

Precision investment<br />

DORSET-based engineering company,<br />

Finetec Precision Engineering, has secured a<br />

£100,000 funding boost from invoice finance<br />

specialist, Gener8 Finance. Finetec Precision<br />

Engineering was established in 1992 to<br />

provide high quality precision components<br />

at competitive rates. It specialises in CNC<br />

Sliding Head Turning using Citizen machines,<br />

machining small turned and milled parts,<br />

with bar capacity up to 32mm diameter. The<br />

owners turned to invoice finance as a solution<br />

to free up cashflow, allowing them to accept<br />

growing orders with confidence, as well as<br />

invest in new materials and machinery.<br />

gener8finance.com<br />

Quality finish<br />

BIBBY Financial Services (BFS) has provided<br />

a £250,000 Invoice Finance facility to Thomas<br />

Loughlin (Liverpool) Ltd, a high-quality print<br />

finisher working with the UK’s finest printers<br />

and globally recognised brands including<br />

Nike, FIFA, Coca Cola and O2. The funding<br />

will also help the business alleviate cashflow<br />

challenges and allow it to consolidate its<br />

market position in the North West. BFS was<br />

introduced to Thomas Loughlin by PMD<br />

Business Finance. bibbyfinancialservices.com<br />

Asia report<br />

TRADE credit insurer Atradius has published<br />

an economic report on Asia, analysing the<br />

risks and opportunities of trading within the<br />

region. The Atradius Country Report on Asia<br />

was prepared as an intelligence tool designed<br />

to equip businesses with vital political and<br />

economic insights as well as a performance<br />

outlook across individual industries. The<br />

report analyses the main Asian economies,<br />

including China, India, Japan, Indonesia<br />

and Vietnam and also features Malaysia,<br />

Singapore, South Korea, Taiwan, Thailand and<br />

the Philippines.<br />

To read the Asia Country Report in full visit<br />

atradius.co.uk. atradius.co.uk<br />

CI<strong>CM</strong> Essentials<br />

RECENT briefings include details of the two<br />

winners of the CI<strong>CM</strong> Meritorious Service<br />

Award, the Institute’s response to the HMRC<br />

consultation ‘Protecting your taxes in<br />

Insolvency’, and three bite-sized webinars on<br />

credit and collections.<br />

CI<strong>CM</strong> chooses Shoosmiths<br />

as new legal partner<br />

UK law firm Shoosmiths has<br />

been chosen by the Chartered<br />

Institute of Credit Management<br />

(CI<strong>CM</strong>) as its new exclusive<br />

legal partner for <strong>2019</strong>-20.<br />

CI<strong>CM</strong> is Britain’s largest and oldest<br />

recognised body for the credit management<br />

industry, and the largest body of its kind<br />

in the world. Together with Shoosmiths,<br />

recognised market leaders in the field of<br />

recovery solutions, it will be working to help<br />

raise the profile and increase membership of<br />

the CI<strong>CM</strong> the length and breadth of the UK.<br />

Paula Swain is one of three Shoosmiths<br />

partners who will be driving forward the<br />

partnership with the CI<strong>CM</strong> alongside<br />

Andrew Foyle (Edinburgh) and Jason Byrne<br />

(Belfast).<br />

Paula, who leads Shoosmiths’ national<br />

B2B debt recovery team from Southampton,<br />

says that the CI<strong>CM</strong> sets the standards of<br />

professionalism in the credit management<br />

industry: “The Institute is a byword for<br />

excellence, so working more closely with<br />

them makes absolute sense to us and will,<br />

I believe, be great for both our respective<br />

organisations. “Shoosmiths handles the<br />

debt recovery for some of the UK’s largest<br />

corporates so we have a shared outlook of<br />

excellence and our UK-wide office network<br />

maps exactly with CI<strong>CM</strong>’s own scope of<br />

operations. We have great hopes for the<br />

tremendous synergies this represents.”<br />

Sue Chapple FCI<strong>CM</strong>, CI<strong>CM</strong> Director<br />

of Strategic Relationships, says she is<br />

delighted to be working with Shoosmiths as<br />

the CI<strong>CM</strong>’s new legal partner: “We recognise<br />

fellow enthusiasts when we see them,<br />

and have been impressed by the energy,<br />

ambition and spark of the Shoosmiths team.<br />

For us, it’s one of those partnerships where<br />

one plus one will definitely add up to more<br />

than two.”<br />

Philip King, Chief Executive of the CI<strong>CM</strong>,<br />

added his welcome: “Shoosmiths has a<br />

deserved reputation for excellence and<br />

its decision to become our exclusive legal<br />

partner will be one that will be welcomed<br />

across our membership.”<br />

Shoosmiths is a national law firm<br />

operating from a network of 13 offices, and<br />

with client companies on every part of the<br />

business growth cycle. The company is<br />

a national market leader in business-tobusiness<br />

debt recovery, providing advice<br />

and recovery solutions to companies in<br />

a wide range of industry sectors in all<br />

legal jurisdictions of the UK. Its teams<br />

work closely with credit teams to recover<br />

commercial debts as quickly and efficiently<br />

as possible; they also deliver a range of<br />

consultancy services designed to improve<br />

cash flow and to reduce cost.<br />

shoosmiths.co.uk<br />

“The Institute is a<br />

byword for excellence,<br />

so working more closely<br />

with them makes<br />

absolute sense to us and<br />

will, I believe, be great<br />

for both our respective<br />

organisations.”<br />

CIVEA to cease involvement<br />

CIVEA, the Civil Enforcement<br />

Association, will no longer<br />

review complaints on behalf<br />

of its members as part of<br />

streamlining of the process for<br />

complaining about enforcement agents<br />

(bailiffs).<br />

All complaints about enforcement<br />

agents acting on behalf of local<br />

authorities will go straight to the Local<br />

Government and Social Care Ombudsman<br />

for independent adjudication after local<br />

processes have been exhausted.<br />

The enforcement industry has been<br />

the subject of scrutiny by the House of<br />

Commons Justice Committee, which<br />

identified a disparity between the<br />

numbers of complaints recorded by debt<br />

advice groups and industry groups. Debt<br />

advice groups claimed that 2.2 million<br />

people had been contacted by bailiffs<br />

since 2014, who reported 850,00 cases of<br />

rules being broken.<br />

Industry figures show much lower<br />

levels of complaints. CIVEA reviews<br />

around 250 complaints each year and in<br />

a survey, 22 enforcement firms processed<br />

approximately 2,500 cases between 2014<br />

and 2018. The Local Government and<br />

Social Care Ombudsman upheld just 50<br />

complaints in the last four years where<br />

the bailiffs themselves were at fault.<br />

Separately, the civil enforcement<br />

industry is calling on the government to<br />

establish a joint committee in the House<br />

of Commons and House of Lords to review<br />

the draft Public Service Ombudsman<br />

Bill, which would provide a procedure for<br />

adjudicating on public service providers,<br />

including enforcement agents when<br />

acting on behalf of public bodies.<br />

Russell Hamblin-Boone, Chief<br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 8

UK Search claims ‘first’ in Open<br />

Banking Solution<br />

UK Search has claimed to be the first to<br />

adopt Open Banking technology to help<br />

customers in arrears to reach realistic debt<br />

free solutions in a timely way.<br />

With a customer’s permission UK Search<br />

can now view bank account transaction<br />

information to understand the customer’s<br />

monthly incomings and outgoings, so an<br />

informed decision can be made about what<br />

repayments will be affordable.<br />

Cliff Poole, Managing Director of UK<br />

Search, said that customers often prefer to<br />

avoid awkward conversations about their<br />

personal finances: “Many of the customers<br />

we engage with want to repay their debts,<br />

but find themselves in financially difficult<br />

circumstances. Talking about it can<br />

become embarrassing and confusing.<br />

“The Open Banking solution we have<br />

developed and introduced allows us to work<br />

with customers in a different way, to get<br />

real accurate views on both their finances<br />

and their circumstances. It becomes very<br />


INTRUM and Tieto have extended their<br />

partnership across the Baltic region to<br />

modernise and automate credit management<br />

services for Intrum clients and customers.<br />

The deal will see Intrum deliver innovation in<br />

areas such as digitalisation, analytics, robotics<br />

and AI, through Tieto’s collection platform<br />

Nova. Now with greater synergies between<br />

its operations, and sharing resource, process<br />

and knowledge, Intrum claims it can offer a<br />

wider range of services with greater scalability.<br />

Already deployed in Sweden, Intrum has<br />

extended Nova to its businesses in Latvia<br />

and Lithuania. intrum.com<br />

in bailiff complaints<br />

Executive of CIVEA, believes the<br />

changes will streamline the process<br />

for complaints redress: “The expertise<br />

and independent adjudication of the<br />

ombudsman gives an impartial picture<br />

of the scale of any problems in our<br />

industry. Three trade associations, local<br />

authorities, the courts service, the Local<br />

Authority Civil Enforcement Forum and<br />

the Local Government and Social Care<br />

Ombudsman have all recorded low levels<br />

of complaints.”<br />

Michael King, Local Government<br />

and Social Care Ombudsman says that<br />

he supports any efforts to streamline<br />

the current process: “We already provide<br />

independent redress for complaints<br />

about the recovery of local taxation and<br />

parking debts by enforcement agents.<br />

Where a firm is acting on behalf of a<br />

local authority, their actions fall within<br />

quick and simple and we can agree an<br />

affordable programme of repayments.”<br />

Cliff believes that a fair outcome can<br />

be reached with most customers, often<br />

by setting an affordable and sustainable<br />

payment plan for those customers who can<br />

afford to pay something and that way helps<br />

them to get out of debt: “Open Banking<br />

gives both parties the opportunity to do this<br />

in the fairest way possible,” he adds.<br />

Likewise, he says, Income & Expenditure<br />

(I&E) cannot and should not be a substitute<br />

for intuition or human instinct: “With the<br />

help of Open Banking and the customer’s<br />

permission collectors should know<br />

instantly when an arrangement isn’t<br />

suitable, through picking up the clues in<br />

the conversation and by seeing for real<br />

the customers true position. The need to<br />

sign post free money advice or return the<br />

account to the Client is made that much<br />

easier.”<br />

uksearchlimited.com<br />

our jurisdiction.<br />

“Clear routes of redress are all the<br />

more important for people who want to<br />

raise concerns about debt issues they are<br />

facing, so we strongly believe complaints<br />

processes should be accessible, easy to<br />

understand and simple to use. We expect<br />

local authorities to ensure that they<br />

have a clear process for dealing with<br />

complaints when they contract services<br />

out to enforcement firms, as we would<br />

with any commissioned service. It’s<br />

important this system is not protracted,<br />

does not require people to go through<br />

multiple complaints processes and also<br />

ensures there is appropriate signposting<br />

– including to our service – if a person<br />

remains dissatisfied with the outcome of<br />

their complaint.” civea.co.uk<br />

See interview on page 21.<br />

>NEWS<br />

IN BRIEF<br />

Government<br />

implements<br />

new E-invoicing<br />

standard<br />

THE UK government has implemented<br />

an EU directive on electronic invoicing in<br />

public procurement through The Public<br />

Procurement (Electronic Invoices etc)<br />

Regulations <strong>2019</strong>.<br />

A Procurement Policy Note (PPN) from<br />

the Cabinet Office said: ‘Contracting<br />

authorities and other contracting entities<br />

(utilities) are now required to receive and<br />

process supplier invoices that comply<br />

with the technical e-invoicing standard<br />

developed under the Directive.’<br />

The requirements apply to central<br />

government with immediate effect, while<br />

local government and utilities have<br />

until 18 April 2020 to comply ‘but may<br />

voluntarily do so earlier’, said the PPN.<br />

The Directive aims to address the use<br />

of varied e-invoicing formats across the<br />

member states through the introduction<br />

of a standard. The varied formats cause<br />

unnecessary complexity and additional<br />

operating costs for businesses, public<br />

contracting bodies and contracting<br />

entities.<br />

ec.europa.eu<br />

Quay Expansion<br />

PHILLIPS & Cohen Associates, the<br />

international deceased account<br />

management specialist, is expanding<br />

its UK operations. It has renewed its<br />

existing lease on premises in Exchange<br />

Quay, Manchester, and taken an extended<br />

lease on an additional 4,200 square feet<br />

on the same site. Nick Cherry, COO, said<br />

the decision reflected the company’s<br />

desire to grow both domestically<br />

and internationally, and establish<br />

the Manchester office as a centre of<br />

excellence.<br />

phillips-cohen.co.uk<br />

End of lease<br />

PETER Thomas has stepped down from<br />

his role as executive director of the<br />

Leasing Foundation to establish a global<br />

network looking at the future of finance.<br />

He will be working with many former and<br />

current Foundation colleagues on a range<br />

of issues that are beyond equipment and<br />

asset finance.<br />

leasingfoundation.org<br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 9


Solid Foundations<br />

Phil Andrew speaks to Sean Feast FCI<strong>CM</strong> about his first<br />

full year as Chief Executive of StepChange Debt Charity.<br />

657,930<br />

clients contacted us<br />

+<br />

6.1%<br />

6,315<br />

Debt relief orders set up<br />

+<br />

40%<br />

306,391<br />

clients completed a<br />

debt advice session<br />

+<br />

0.3%<br />

£432m<br />

of debt repaid by our clients<br />

+<br />

0.8%<br />

Phil Andrew<br />

56,660<br />

clients started a<br />

managed solution<br />

-<br />

8.3%<br />

£110m<br />

written off with our support<br />

24,310<br />

became debt free with<br />

our support<br />

+<br />

7%<br />

+<br />

15%<br />

THE need for debt advice<br />

in this country is growing<br />

– and growing rapidly. By<br />

2022 it is estimated that<br />

more than two million<br />

people in the UK will need<br />

debt advice every single year. At present<br />

the entire debt advice sector has the<br />

capacity to help less than one million<br />

people.<br />

Phil Andrew believes there is a moral<br />

obligation to meet the needs of those<br />

struggling with problem debt; it’s why<br />

he’s set out ambitious plans to double the<br />

number of people StepChange can help:<br />

“Inextricably linked to this,” he says, “is<br />

the need to help people before they fall in<br />

to crisis and also to ensure we continue to<br />

provide consistent advice, of the highest<br />

quality, at a cost that allows us to help as<br />

many people as possible with the limited<br />

funding we receive.”<br />

In its latest impact report, published in<br />

May, StepChange revealed the huge strides<br />

it is taking towards helping more people,<br />

reflecting also on the people it has already<br />

helped, how they have been helped, and<br />

what steps it is taking to build a more<br />

effective and efficient organisation.<br />


In 2018, Phil says that StepChange helped<br />

more people than ever, with 657,930<br />

people getting in contact – someone every<br />

48 seconds.<br />

“And we continued to offer that support<br />

right from the first contact through to<br />

someone becoming debt free,” he says.<br />

“We also kicked off a landmark new<br />

We reduced our<br />

client advice cost by<br />

4.2%<br />

We supported the<br />

development of the Single<br />

Financial Statement (SFS)<br />

major policy<br />

4 wins<br />

influential research<br />

8 and data reports<br />

Our partners referred<br />

154,611<br />

clients to us for<br />

telephone advice<br />

initiative to track what difference debt<br />

advice makes. This looks at the wellbeing<br />

of our clients on various measures at<br />

different times after receiving debt<br />

advice.”<br />

Its initial findings set out the real areas<br />

where it has a significant positive impact<br />

for its clients and looks honestly at where<br />

debt advice is less effective, particularly<br />

noting less positive results for vulnerable<br />

clients with negative budgets.<br />

Government introduced the<br />

No Interest Loan Scheme pilot<br />

major FCA interventions<br />

4 matching our goals<br />

We continued to collaborate<br />

with Citizens Advice and<br />

Business Debtline to direct<br />

clients to the right advice<br />

provider for their needs<br />

We continued<br />

to develop our<br />

customer relationship<br />

management system<br />

(CRM) to better<br />

serve our clients<br />

10 consultation<br />

responses<br />

Parliament legislated for<br />

Breathing Space within<br />

the Financial Guidance<br />

and Claims Act 2018<br />

“As a charity we have a responsibility<br />

to manage our money effectively and<br />

efficiently,” he continues. “We want our<br />

partners and funders to have complete<br />

confidence that their contributions are<br />

having the greatest impact possible.”<br />

What is clear, he believes, is that the<br />

sector is significantly underfunded. “In<br />

2018 we’ve been leading conversations<br />

around Fair Share contributions<br />

whilst also calling for an effective and<br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 10


AUTHOR – Sean Feast FCI<strong>CM</strong><br />

sustainable funding model for the debt<br />

advice sector that enables us to meet<br />

growing demand.<br />

“We’ve also worked tirelessly to reduce<br />

our own costs. We’ve been able to reduce<br />

our own client advice cost by 4.2 percent,<br />

allowing us to provide advice to more<br />

people without growing our overheads at<br />

comparable rates.”<br />

Phil says that partnerships are<br />

important: “We want to work in<br />

partnership where we can. We know<br />

that working together can amplify our<br />

voice and our impact. That’s why we’ve<br />

continued to collaborate with partners<br />

across the sector. We also received more<br />

than 150,000 client referrals directly to<br />

our services from partners across the<br />

financial industry – so it is clear just how<br />

important collaboration is.”<br />

2.5m<br />

visits to our website*<br />

145,924<br />

subscribers to our<br />

DMP newsletters<br />

Launched our new<br />

Persistent Debt<br />

advice services<br />

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

practice: we now only count a web visit when a person has viewed one of<br />

our pages for at least 30 seconds.<br />

5.2m<br />

views of our debt<br />

information and advice<br />

website pages<br />

784,630<br />

unique visits to MoneyAware<br />

our debt advice blog<br />

50% 36<br />

growth in unprompted<br />

press<br />

brand awareness releases<br />

22%<br />

increase in website<br />

visits since 2017<br />


The charity’s debt advisers were busier<br />

than ever in 2018 but, Phil explains, his<br />

team has also continued to develop its<br />

work to tackle the causes of problem debt<br />

and to influence government policy in<br />

Westminster, Holyrood and the Senedd.<br />

Last year, it published no fewer<br />

than eight influential reports and ten<br />

consultation responses, as well as<br />

registering major policy wins.<br />

“Our campaign for a ‘breathing space’<br />

scheme has spanned many years, but it<br />

reached its apex in 2018 as the government<br />

formally included such a programme in<br />

the Financial Guidance and Claims Act<br />

2018. We’re continuing to campaign to<br />

shape exactly what the scheme will look<br />

like when it’s implemented and have<br />

lobbied hard to make sure it’s at the best it<br />

can be on delivery.<br />

“Our campaign to reform the poor<br />

behaviours we’ve witnessed in the bailiff<br />

industry led to the announcement of a<br />

call for evidence by the Justice Select<br />

Committee. We also saw the launch of a<br />

feasibility study on a ‘No Interest Loans<br />

Scheme’ in the 2018 Budget, a key priority<br />

in our work towards encouraging the<br />

creation of affordable alternatives to high<br />

cost credit. And the FCA acted on several<br />

fronts to tackle unsustainable credit,<br />

reflecting campaigns we have undertaken,<br />

for example on overdraft fees.”<br />


Raising awareness of problem debt across<br />

society continues to be a major challenge,<br />

and one that Phil is not shy to address: “In<br />

2018 we saw 5.2 million views of our debt<br />

279<br />

mentions on<br />

TV and radio<br />

information and advice web pages, with<br />

over three-quarters of a million unique<br />

visits to our MoneyAware debt advice<br />

blog, and over 145,000 subscribers to our<br />

DMP Newsletter.<br />

“And we’re getting the message out<br />

there more widely too. Helped by nearly<br />

2,000 media mentions of the charity, we’ve<br />

grown both our online presence and brand<br />

awareness, with a 22 percent increase in<br />

website visits, and a 50 percent increase in<br />

unprompted brand awareness.”<br />

StepChange’s core aim is to work to<br />

support people earlier with their money<br />

worries: “We launched a pilot persistent<br />

debt initiative, looking to support those<br />

contacting us who may not be in problem<br />

debt yet, but have been directed to us due<br />

to being identified as part of the FCA’s<br />

new persistent credit card debt rules.”<br />


Phil says that being on the frontline of<br />

debt advice can be tough. Ensuring that<br />

his staff feel rewarded for their hard work<br />

and dedication remains one of his key<br />

objectives, as well as supporting them to<br />

reach even higher levels of achievement.<br />

“Our single greatest resource is our<br />

people, and with a workforce of more<br />

than 1,500 spread out across eight cities<br />

23<br />

broadcast<br />

interviews<br />

1686<br />

pieces of press coverage<br />

in the UK, it’s vital that we listen to our<br />

colleagues and their feedback. We spent<br />

2018 engaging with colleagues through<br />

townhall meetings, roadshows and<br />

feedback forums, to better understand<br />

how we can recruit and retain the kinds<br />

of people we need for the future.<br />

“Between more than 11,000 hours<br />

of employee training and the launch<br />

of our first ever graduate programme,<br />

we’re working hard to develop skills and<br />

development opportunities,” he adds.<br />


Last year, Phil says, was a real year of<br />

change at StepChange: “I’m enormously<br />

proud of some of the foundations that<br />

we’ve laid on the way to preparing<br />

ourselves for the future of debt advice.<br />

While we’ve made great progress towards<br />

our goal of doubling the number of people<br />

we can help, I know that we have much<br />

more to do.”<br />

On the wall outside Phil’s office in Leeds<br />

is the charity’s vision: to build a society<br />

free from problem debt. “That might feel<br />

like a lofty aspiration,” Phil concludes,<br />

“and I certainly can’t promise that we’ll<br />

achieve that by 2022, but I can promise<br />

we’ll continue to have the greatest impact<br />

we can to help those who need it.”<br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 11


Shallow Dive<br />

Referrals to the Pre-Pack Pool have taken a<br />

disappointing dip.<br />

THE Pre-Pack Pool (The Pool), as<br />

readers will recall, commenced<br />

operations in November 2015 as<br />

part of the amendments to SIP<br />

16 recommended by the Graham<br />

Report of 2014.<br />

The concept, supported by the Insolvency<br />

Practitioners Regulatory Bodies (RPBs), The<br />

Insolvency Service (IS), CI<strong>CM</strong> and other<br />

Creditors bodies, all of whom are stakeholders,<br />

was that an independent body of reviewers<br />

would give an opinion as to the reasonableness<br />

of a connected party Pre-Pack.<br />

Connected party Pre-Packs had, at the time<br />

of the report, drawn criticism for being in some<br />

cases perceived as merely a debt dumping<br />

exercise leaving unsecured creditors and often<br />

pension funds out of pocket.<br />

The Pools’ remit was to examine such cases<br />

and report on them, but the whole system is<br />

voluntary with applications coming from the<br />

acquirer not the IP. This voluntary system is set<br />

to be reviewed by the IS this year in advance of<br />

the Governments’ deadline of May 2020 when it<br />

will decide whether to continue with a voluntary<br />

system or perhaps set regulatory (mandatory)<br />

parameters for referral to the Pool, or even ban<br />

the practice.<br />


As at December 2018, three years and two<br />

months into its existence, The Pool had reached<br />

its century (100 cases.)<br />

In our first 14 months we had 53 referrals<br />

(approx. 24 percent of ‘eligible’ cases.) In 2017<br />

and 2018 referrals were 23 and 24 respectively<br />

representing approximately ten percent of<br />

eligible cases. The first quarter of <strong>2019</strong> has seen<br />

six cases referred.<br />

This disappointing downward trend in<br />

referral rates is something we at The Pool are<br />

keen to understand. Is the low rate as a result of<br />

a lack of interest from those creditors affected by<br />

Pre-Packs or simply that directors see little point<br />

in approaching us, if there are no sanctions for<br />

not doing so?<br />

We still await<br />

any update on<br />

whether the<br />

Government<br />

wish to act<br />

under its ‘sunset<br />

clause’ to make<br />

referral to a<br />

third-party<br />

reviewer (such<br />

as The Pool),<br />

mandatory.<br />

We have seen active interest and action taken<br />

by some major creditors in contentious cases,<br />

notably by the Pension Protection Fund (PPF),<br />

but this is a notably rare event. However, in<br />

general there seems to be little interaction with<br />

the general body of unsecured creditors even<br />

though they have most to lose.<br />

Mention of the PPF is a reminder that we do<br />

have a significant supporter in Frank Field MP,<br />

Chair of The Work and Pensions Committee in<br />

Parliament. He along with Sir Vince Cable has<br />

been lobbying for compulsory referral in the<br />

light of high-profile cases such as House of<br />

Fraser and Johnston Press but these Pre-Packs<br />

were not ‘connected’ in the strictest sense.<br />

(House of Fraser was sold to a third party and<br />

Johnston Press to its lenders).<br />


The Insolvency Service has now released its<br />

‘2018 Annual Review of Insolvency Practitioner<br />

Regulation’, which includes a section regarding<br />

Pre-Packs. There were 450 SIP 16 reports (i.e. all<br />

Pre-Packs), advised to The Service, of which 241<br />

covered sales to connected parties, confirming a<br />

referral rate of ten percent.<br />

In terms of the specific review of Pre-Packs,<br />

the report found that while Pre-Pack sales ‘were<br />

a useful business rescue tool’ there was evidence<br />

of ‘less successful outcomes’ where the sale was<br />

to a connected party. The Government hopes to<br />

be able to publish its findings from the review<br />

shortly. We still await any update on whether the<br />

Government wish to act under its ‘sunset clause’<br />

to make referral to a third-party reviewer (such<br />

as The Pool), mandatory.<br />

In other developments, as in the Johnston<br />

Press and Interserve cases I feel a new process<br />

is being developed. That of the ‘secured lender’<br />

Pre-Pack. The latest example being Debenhams.<br />

Having secured a new tranche of secured<br />

lending they have now completed a Pre-Pack<br />

whereby the lenders have acquired the business.<br />

Stuart Hopewell FCI<strong>CM</strong> is a director<br />

Pre-Pack Pool Ltd<br />

BRENDAN Clarkson FCI<strong>CM</strong>, insolvency<br />

expert at insolvency and restructuring<br />

firm CVR Global, is calling for it to<br />

be compulsory that every pre-pack<br />

administration is analysed by the Pre-<br />

Pack Pool. He said: “Bypassing the Pre-<br />

Pack Pool is a missed opportunity for<br />

all stakeholders involved in a pre-pack<br />

administration as it offers peace of<br />

mind and clarity for all involved – the<br />

recent fall out between Debenhams<br />

and Mike Ashley only reinforces this<br />

point.<br />

“And while Debenhams’ deal is<br />

legitimate, is it in the best interests of<br />

landlords, suppliers and employees?<br />

This is why when the Government<br />

reviews the system in May 2020, we<br />

will be supporting calls for it to be<br />

compulsory for every Pre-Pack to<br />

be referred to the pool before it can<br />

proceed.<br />

“People such as Chair of The Work<br />

and Pensions Committee Frank Field<br />

MP along with Sir Vince Cable are<br />

backing the stance to make referrals<br />

to the Pre-Pack Pool compulsory when<br />

the Government reviews the system in<br />

May 2020, where they could even end<br />

up banning the practice totally.”<br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 12


Deemed consent<br />

IPs hold the pivotal role of bringing together all<br />

stakeholders and providing them with the ability to<br />

make informed decisions.<br />

AUTHOR – Michelle Thorp<br />

Michelle Thorp<br />

IN last month’s article, I discussed<br />

our work with HMRC on its<br />

planned move to reinstate itself as<br />

a secondary preferential creditor<br />

in insolvencies and the protection<br />

we think those creditors behind<br />

HMRC in the planned new hierarchy<br />

should be afforded. This month, my<br />

focus returns to the IPA and our view on<br />

the important and sensitive matter of<br />

deemed consent and decision procedures<br />

in insolvency proceedings, number six<br />

of our Statements of Insolvency Practice<br />

(SIPs). Our SIPs set out required practice<br />

and harmonise insolvency practitioners’<br />

(IPs’) approach to particular aspects of<br />

insolvency practice. They apply in parallel<br />

to the prevailing statutory framework.<br />

Recently, following the introduction<br />

of the new Scottish insolvency rules on 6<br />

April <strong>2019</strong>, Scotland has been included<br />

in SIP 6, joining England and Wales and<br />

thereby making the SIP a UK-wide one.<br />

Scottish IPs now work under this SIP in the<br />

same way as those in England and Wales.<br />


Sections 246ZF (corporate insolvency)<br />

and 379ZB (personal insolvency) of the<br />

Insolvency Act 1986 detail the deemed<br />

consent procedure – these were inserted<br />

into the Act by the Small Business,<br />

Enterprise and Employment Act 2015. Rule<br />

15.7 of the Insolvency Rules 2016 also sets<br />

out the procedure.<br />

By definition, deemed consent is the<br />

process by which certain decisions can be<br />

made on behalf of creditors in insolvency<br />

proceedings. It’s one of several decision<br />

pathways in insolvency, the others being<br />

correspondence, electronic voting, virtual<br />

meeting, physical meeting and any<br />

other suitable procedure that allows all<br />

concerned to participate fairly.<br />

Under deemed consent, the following<br />

must be communicated to creditors and/or<br />

contributories: the proposed decision and<br />

surrounding matter to which it relates; if<br />

less than ten percent of the applicable<br />

creditors and contributories object to<br />

the decision, the decision in question<br />

will be made as a result; if more than<br />

ten percent object, it is not made; if the<br />

concerned parties seek the same decision,<br />

a qualifying decision procedure must be<br />

used; and the procedure for objecting to a<br />

proposed decision must be adopted.<br />

Deemed consent is likely to be used<br />

when appointing a liquidator, though a<br />

virtual meeting can also be called – as can a<br />

physical meeting, if more than ten percent<br />

of creditors object<br />

to the appointment<br />

of a liquidator, or if<br />

creditors feel a physical<br />

meeting is required<br />

(this must take place<br />

within 14 days of the<br />

objection being made).<br />

It’s important to<br />

note that remuneration<br />

can’t be decided by<br />

deemed consent, and<br />

the Insolvency Act<br />

and Insolvency Rules also state when a<br />

decision must be made not by deemed<br />

consent, but by one of the other decision<br />

procedures. Another key area of insolvency<br />

where deemed consent doesn’t apply is<br />

the approval of both Company Voluntary<br />

Arrangements (CVAs) and Individual<br />

Voluntary Arrangements (IVAs).<br />

I recently wrote about the work<br />

we’ve done to strengthen regulation of<br />

volume providers of Individual Voluntary<br />

Arrangements (IVAs). The mass decision<br />

making processes common to this type of<br />

insolvency proceeding forms a significant<br />

aspect of our basis for enhancing our<br />

regulation in this area. It’s of course<br />

paramount that in an environment that<br />

processes a considerable number of cases,<br />

consent is made certain.<br />


IPs hold the pivotal role of bringing<br />

together all stakeholders concerned with<br />

The window for<br />

responses, in cases<br />

in which deemed<br />

consent applies,<br />

terminates after<br />

the final minute of<br />

that day.<br />

making decisions and providing them with<br />

the ability to make informed decisions.<br />

This is, of course, essential to maintain<br />

trust and confidence in insolvencies, from<br />

both a creditor and debtor point of view, as<br />

is the timely facilitating of participation.<br />

Requests for additional information<br />

should be considered individually by the<br />

IP, based on their merits, and treated fairly<br />

and reasonably. Any additional information<br />

provided should be proportionate to the<br />

case’s circumstances.<br />

Record keeping in this area is also<br />

important. Accurate and contemporaneous<br />

records of deemed consent and decision<br />

procedures must be kept by the IP for<br />

reference and sufficiently explain the<br />

business conducted and the basis upon<br />

which any discretion was exercised.<br />

The window for<br />

responses, in cases<br />

in which deemed<br />

consent applies,<br />

terminates after the<br />

final minute of that<br />

day. In my mind, a<br />

possible future change<br />

to this would be to<br />

bring the window<br />

in line with office<br />

hours in order to keep<br />

things progressing as<br />

efficiently as they can.<br />

It’s important to note that creditors bear<br />

the responsibility to instigate change to<br />

proceedings if they have any objections<br />

or require a meeting. Following the 2017<br />

insolvency rules, which introduced a<br />

move to reflect modern business practice<br />

in the insolvency industry, allowing<br />

electronic communication with creditors<br />

and removing the need to hold physical<br />

creditor meetings, more responsibility<br />

was placed upon creditors to act quickly<br />

to protect their position in insolvencies.<br />

When you also consider the discrepancies<br />

around when deemed consent applies,<br />

the need for all concerned parties in<br />

insolvency to be aware of this sensitive<br />

procedure and its correct use appears all<br />

the more apparent.<br />

Michelle Thorp is CEO, Insolvency<br />

Practitioners Association.<br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 13


On Your Feet<br />

Honouring those who have dedicated their<br />

lives to the cause.<br />

AUTHOR – Pete Whitmore FCI<strong>CM</strong><br />

Pete Whitmore FCI<strong>CM</strong><br />

WHAT do Terry<br />

Pratchett, Winston<br />

Churchill and Gloria<br />

Estefan have in<br />

common? Well, at<br />

face value not a great<br />

deal, but they have each provided me with<br />

a degree of inspiration when deliberating<br />

about how to shape this column.<br />

I recently watched the first episode of<br />

‘Good Omens,’ which was penned by Sir<br />

Terry nearly 30 years ago and it started<br />

me thinking about what good omens we<br />

see in the world of credit management. I<br />

suppose that all too often we focus on the<br />

negative signs out there; who hasn’t paid<br />

me, who is giving me the run around (why<br />

does that word always evoke memories of<br />

the dulcet tones of Mike Reid) and who is<br />

still drawing down dividends even though<br />

they are making losses each year? Those<br />

are valuable and vital considerations,<br />

but we should try to balance them with<br />

the customers who always pay on time<br />

and those who continue to leave profits<br />

in their business and grow. Those are the<br />

customers that we should focus upon and<br />

understand how we can add value to their<br />

business, because that will only bring<br />

increased value back to our own. I am<br />

not suggesting that we ignore those non/<br />

late paying customers as they will soon<br />

drain your cashflow, but let’s not miss an<br />

opportunity by expending all our energy on<br />

them. Let’s look for the good omens.<br />

But how does that relate to Sir Winston?<br />

I was lucky enough to attend the CI<strong>CM</strong><br />

Fellows’ Celebratory Lunch this year,<br />

which was held in the Churchill War<br />

Rooms. They opened for service around<br />

the same time that Cuthbert Grieg started<br />

the I<strong>CM</strong> as it was then. The tour itself is<br />

awe inspiring and it allows you to visualise<br />

what it must have been like to manage the<br />

forces of long forgotten regiments, rusted<br />

ships and now disused airfields (that one’s<br />

for you, Sean). During the course of the<br />

day we were treated to hearing about those<br />

individuals who had been selected to be<br />

part of the inaugural ‘Fellows of the Future’<br />

scheme. It set me thinking about how I<br />

wish there had been something like that<br />

when I set out in my own credit career; the<br />

nearest thing would have been informal<br />

mentoring, but even that is nothing like<br />

the valuable mentoring scheme that exists<br />

with the CI<strong>CM</strong> today. I would urge you to<br />

get involved as a mentor or alternatively<br />

take advantage of the extensive experience<br />

and business knowledge that exists<br />

within our membership. I was also given<br />

the honour of presenting this year’s<br />

Meritorious Service Awards to Gary Baker<br />

and David Kerr; two very worthy recipients.<br />

In an underground environment where<br />

people had to battle against adversity just<br />

to survive, it felt pretty poignant that we<br />

were there recognising the past, present<br />

and future of the credit industry.<br />

That just leaves Gloria; where can she<br />

possibly come in to the equation? I went<br />

to see the biopic musical of her life, ‘Get<br />

on your feet!’ and loved it, but the lyrics of<br />

the title track struck a chord with me. ‘Get<br />

on your feet and make it happen!’ If that is<br />

not a sentiment to which you can live your<br />

life, I’m not sure what is. Gloria certainly<br />

did that after suffering horrendous injuries<br />

in a coach crash. I suppose I’m trying<br />

to say that if you want something badly<br />

enough you need to go out there and make<br />

it happen. If you want to change the way<br />

your customers behave, go out and educate<br />

them in how you can help them. If you<br />

want to grow as a credit professional, go<br />

out and explore the opportunities available<br />

to you; there are a plethora of ways we can<br />

help you with the many resources of the<br />

CI<strong>CM</strong>. Be an ambassador and spread the<br />

word about our wonderful Institute and<br />

profession. Get on your feet and make it<br />

happen!<br />

Pete Whitmore FCI<strong>CM</strong> is Chair of the<br />

Chartered Institute of Credit Management.<br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 14




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THREE’S<br />


Sean Feast FCI<strong>CM</strong> catches up with<br />

the founders of Court Enforcement<br />

Services (CES).


AUTHOR – Sean Feast FCI<strong>CM</strong><br />

When Daren started,<br />

Frank jokes, “…he<br />

couldn’t collect pebbles<br />

off a beach…” and yet<br />

now is the managing<br />

director of one of<br />

the fastest growing<br />

businesses in the High<br />

Court Enforcement<br />

sector.<br />

Daren Simcox<br />

IT’S Friday morning, and a quick-ish<br />

punt from home around the M25 sees<br />

me arrive at the back of an industrial<br />

estate in Essex. On the other side of a<br />

pedestrian passageway are the offices<br />

of Court Enforcement Services (CES),<br />

and I mustn’t be late. One of the founding<br />

directors, Daren Simcox, has delayed his bank<br />

holiday weekend travel plans to accommodate<br />

me, so in the end I’m early.<br />

Frank Millerick, the company Chairman, is<br />

at the door to greet me and I am shown into<br />

the boardroom where we are joined by the<br />

last of the trio, Wayne Whitford. With all of<br />

the founders in the room at the same time,<br />

I’m beginning to wonder if I am interviewing<br />

them, or are they interviewing me?<br />

Between the three of them, they have well<br />

over 100 years’ experience in High Court<br />

Enforcement. Frank has seen the Enforcement<br />

profession from all sides; for ten years he was<br />

a Justice of the Peace and is a former chairman<br />

of one of the industry associations that started<br />

to lobby for change that has led to recent<br />

amendments to enforcement legislation.<br />

Daren has been a Certificated Enforcement<br />

Agent for more than 30 years and is justifiably<br />

proud of how far the business has come in a<br />

comparatively short space of time. Wayne has<br />

worked in enforcement and debt collection –<br />

including doorstep collections – for almost 30<br />

years and, it should be noted, is a Fellow of the<br />

Chartered Institute of Credit Management.<br />


The Chemistry between the three men is<br />

immediately apparent. There is a confidence<br />

and a trust that comes from building a<br />

business together. When Daren started, Frank<br />

jokes, “…he couldn’t collect pebbles off a<br />

beach…” and yet now is the managing director<br />

of one of the fastest growing businesses in the<br />

High Court Enforcement sector.<br />

Since the business eventually emerged<br />

through a Management Buyout (MBO) five<br />

years ago, it can now claim a £10 million<br />

turnover and something like a (25 percent)<br />

market share. In the calendar year for 2018<br />

it served c20,000 writs – up from 18,000 the<br />

previous year when it was officially listed as<br />

number two in the Ministry of Justice (MoJ)<br />

league table. Since the start of this year (<strong>2019</strong>),<br />

it has already served 15,000 writs, and keeps<br />

growing. Last year they collected c£35 million<br />

for their clients.<br />

“When we started the business,” Daren<br />

explains, “we decided to focus on Writs. Others<br />

have taken a more scatter-gun approach, but<br />

we agreed that we wanted to be good at one<br />

thing and to be known for it. We now work<br />

for four of the big six energy and utility<br />

companies, as well as the largest property<br />

management company in the UK.”<br />

My visit coincides with a number of<br />

major changes being mooted in the industry,<br />

including the call for independent regulation<br />

of Enforcement Agents. Daren believes the<br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 17<br />

continues on page 18 >


AUTHOR – Sean Feast FCI<strong>CM</strong><br />

lack of transparency is a concern: “The industry is<br />

currently self-regulated but that means if there is<br />

an issue, our conduct is judged by our peers. Is that<br />

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

their own pay increases,” he says. “Our industry is a<br />

professional industry and should be independently<br />

regulated.”<br />


One of the hot topics of the moment is the wearing<br />

of body cameras, and whether this should be<br />

compulsory. “The police, the ambulancemen, and<br />

parking attendants are all wearing them now and we<br />

think having video evidence is a good thing,” Wayne<br />

says. Daren concurs: “An allegation was made recently<br />

against one of our agents and the video evidence<br />

proved all of those allegations to be false. We also use<br />

some of the video footage to train our staff.”<br />

The three men agree that the system can be open<br />

to abuse; Enforcement Agents have been known to<br />

switch their cameras off, but this is the exception<br />

rather than the rule. Video footage also does not always<br />

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

another way of measuring performance and that has<br />

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

reduces the number of complaints we are likely to see<br />

and it also enables us to monitor the performance and<br />

behaviour of our own self-employed agents.”<br />

Another burning issue is a proposal to remove the<br />

current rules that disallow a County Court Judgment<br />

of less than £600 to be transferred to the High Court.<br />

At present, for debts below £600, a creditor is obliged<br />

to request a warrant of execution (at a further cost<br />

of £110) for a county court bailiff (i.e. a civil servant<br />

as opposed to a certificated professional) to enforce.<br />

“You can have little confidence you will ever get your<br />

money back,” Daren explains. He advocates that this<br />

limit should be removed: “It should be the creditor’s<br />

choice whether this debt is transferred to the High<br />

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

absurd historical anomalies.”<br />

When a debt of more than £600 is transferred, CES<br />

charges a fixed fee of £75 (in accordance with the<br />

Taking Control of Goods Act Fee Regulation 2014) for<br />

enforcement, and gives the customer (i.e. the debtor)<br />

a period of 14 days in which to pay the debt in full or<br />

come to an arrangement. (“The standard period is<br />

seven days but we allow more for postage and receipt,<br />

and to take into account weekends,” Daren says.)<br />


The success or otherwise of enforcement varies<br />

depending on the debt type. Commercial debts tend<br />

to be the most successful, and for some debts, the<br />

success rate can be as high as 99 percent. When<br />

contracts are shared, CES is constantly the highest<br />

performer. Wayne says this is due largely to the quality<br />

of people they employ; Daren agrees, and says that it<br />

comes down to treating every Writ in the same way:<br />

“Our ‘paid in full’ rates are the highest in the industry,<br />

and we are very proud of that,” he adds.<br />

Success is not only down to the quality of people<br />

or its focus on a particular part of the enforcement<br />

industry. It is also about how CES has been quick to<br />

Frank Millerick<br />

Wayne Whitford<br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 18


AUTHOR – Sean Feast FCI<strong>CM</strong><br />

embrace and develop new technology.<br />

Enforcement agents are now able to<br />

interact through an award-winning App<br />

which has significantly improved the<br />

experience for the agent and customer<br />

alike. Instructions, documents and<br />

photographs can be seen by the agent<br />

on the App in real-time: “The complete<br />

history of every case can be seen by the<br />

agent through the App,” Wayne explains,<br />

as he shows me an example on his<br />

mobile. The level of information and<br />

data available is impressive, and the App<br />

also gives the agent the opportunity to<br />

take card payments or request additional<br />

information, for example, from the DVLA.<br />

There is a client portal too, to give clients<br />

total visibility of every case.<br />

Court Enforcement Services is<br />

certainly a progressive business and not<br />

one to rest on its laurels. Staff retention<br />

levels are impressive – its current Ops<br />

Director actually started with the three<br />

directors when he was 19 and is now in<br />

his thirties – but it is always looking to the<br />

future. It is proud not simply of ‘churning’<br />

existing business, but actually expanding<br />

the market: “In our first full year we<br />

served 6,000 Writs,” says Daren, “but<br />

many of these were not what you would<br />

consider ‘traditional’ Writs. Many were<br />

from ‘new’ customers thereby creating a<br />

new market.”<br />


Visibility of their sector has been<br />

enhanced through various ‘fly-on-thewall’<br />

documentaries on television, but<br />

these are both a blessing and a curse.<br />

“They are positive in that they have raised<br />

the awareness of High Court Enforcement<br />

as an option open to creditors,” Frank<br />

says. Wayne agrees: “Sometimes people<br />

call us and say that they’ve seen us on TV!”<br />

The problem that Daren perceives is<br />

the intrusive nature of the programme<br />

on the customer: “Our job is to execute a<br />

court order and that is the end of it. It is<br />

not our job to then offer on camera our<br />

personal opinions as to the rights and<br />

wrongs of the customer’s circumstances.”<br />

So what next for the team at CES?<br />

In 2018, the directors sold part of the<br />

business to JBW, a larger collections and<br />

enforcement business, although CES still<br />

retains its independence. “Being part of a<br />

bigger group gives us a huge opportunity<br />

for future growth,” Daren says.<br />


The landscape for Enforcement is likely<br />

to change with the introduction of a new<br />

independent regulator, but the team<br />

only see this as a positive step. It has<br />

always taken complaints and compliance<br />

seriously and believes that professional<br />

businesses could benefit from the<br />

changes being proposed.<br />

“The three people in this room have<br />

collectively done as much as any to<br />

promote professionalism within our<br />

industry,” Frank adds.<br />

The business started out as a boutique<br />

– an approachable, customer-centric<br />

business that puts relationships at the<br />

very heart of what it does. It has very<br />

much ‘grown up’ as a business and is<br />

never afraid to try new things. Daren is<br />

particularly excited about a new ‘Brand<br />

Sound’, though what this will finally look<br />

and sound like appears as much a mystery<br />

to his fellow directors as it does to me!<br />

Court Enforcement Services goes<br />

above and beyond the ‘traditional’, with<br />

skill-sets and experience that are core to<br />

its success.<br />

This, they are all agreed, will never<br />

change: “The market will continue to<br />

grow, creditors’ choice will improve, and<br />

online decision making will increase the<br />

volumes of judgments being referred to<br />

the High Court,” Daren concludes.<br />

An allegation was<br />

made recently<br />

against one of our<br />

agents and the<br />

video evidence<br />

proved all of those<br />

allegations to be<br />

false. We also use<br />

some of the video<br />

footage to train our<br />

staff.<br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 19

UKCCC<br />

<strong>2019</strong><br />




BY<br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 20



ANGLER<br />

Sean Feast FCI<strong>CM</strong> speaks to Russell Hamblin-Boone<br />

about civil enforcement, dealing with vulnerability, and<br />

the challenges of landing a 22-pound Pike.<br />

RUSSELL Hamblin-Boone<br />

has never been one to<br />

shy away from what he<br />

jokingly calls ‘issues-rich’<br />

briefs, and as the current<br />

Chief Executive of the<br />

Civil Enforcement Association (CIVEA) he<br />

certainly has a number of issues to juggle.<br />

With the imminent publication of the<br />

Ministry of Justice’s response to its call for<br />

evidence, and the launch of CIVEA’s new<br />

Code to complement the creation of a new<br />

Compliance Board and revised complaints<br />

procedure, he is a busy man. He is also<br />

aware that he has unintentionally been<br />

characterised by some in the media as the<br />

standard-bearer for some of the business<br />

UK’s more controversial briefs: “I am not<br />

sure if I have followed crises around or<br />

they have followed me,” he laughs. “And<br />

I was not sure whether to be flattered or<br />

insulted by once being referred to by James<br />

Moore in the Independent as ‘a disturbingly<br />

effective lobbyist’ when I was making a<br />

case for high-cost credit!”<br />


It all seems a long way from the small boy<br />

who grew up on a farm in Hampshire.<br />

Growing up in the countryside, it might<br />

have been expected that the young<br />

Russell may have pursued an outdoors<br />

career: “There was a trout farm on one of<br />

the farms that we lived, and for a time I<br />

thought of becoming a Fishery Manager,<br />

but not getting high enough grades at<br />

Chemistry and Maths it was not to be.”<br />

Instead, on leaving college Russell took<br />

leave of his idyllic rural surroundings to<br />

head for the bright lights of Basingstoke,<br />

where he quickly found employment<br />

in the Civil Service. “I was young, living<br />

in a big town, and needed money,” he<br />

explains. “My mother suggested the Civil<br />

Service and so I joined the Civil Service<br />

Commission as an office adminstrator.<br />

The Commission was part of the Cabinet<br />

Office and a typical sausage factory;<br />

everything was still dependent on pen<br />

and paper, copied in triplicate and letters<br />

were prepared in a typing pool.”<br />

Encouraged through promotion to<br />

move to London, Russell joined the Chief<br />

Whip’s Office, working from Downing<br />

Street: “It was just at the time that John<br />

Major had lost his majority as a result<br />

of revolt by the Euro Sceptics,” he says,<br />

his comment heavy with irony given the<br />

Conservative Party’s current predicament.<br />

“I was also there during the transition to<br />

the new ‘New Labour’ government and<br />

very much enjoyed the ‘cut and thrust’ of<br />

the role. It is an overtly political office so as<br />

a civil servant I had a unique opportunity<br />

to earn my parliamentary spurs.”<br />


After over four years in the Whip’s Office,<br />

and with an ambition to be a Private<br />

Secretary, Russell joined the Attorney<br />

General’s Office, working closely with<br />

the Solicitor General, Lord Faulkner.<br />

This was the time of Kosovo and the<br />

Omagh bombings, and a febrile political<br />

environment. Concurrently he took<br />

on a further role with Baroness Jay, as<br />

Assistant and then Private Secretary to the<br />

Leader of the House of Lords, Lord Privy<br />

Seal and Minister for Women during the<br />

passage of the Lords reform Bill. He took<br />

justifiable pride in being one of the few<br />

private secretaries who had not been fasttracked<br />

out of Oxbridge.<br />

With 14 years of Civil Service experience<br />

under his belt, Russell understood that<br />

detailed knowledge of Whitehall and<br />

the machinations of government were a<br />

priceless commodity: “Having a solid Civil<br />

Service background and quality training<br />

has served me well throughout my career,”<br />

Russell explains.<br />

Now with a young family, and having<br />

moved to the West Country, Russell began<br />

looking for a change in direction, and a<br />

shift from the public to the private sector.<br />

Spotting an advertisement in The House<br />

magazine for the British Retail Consortium<br />

he applied, and was successful, joining<br />

the BRC as its Parliamentary Officer in<br />

December 2000: “The transition from<br />

public to private can be a difficult one,”<br />

Russell concedes, “though the journey<br />

can be eased by first working for a trade<br />

association where my knowledge of<br />

Government was seen as an asset.”<br />


Russell’s arrival was followed soon after<br />

by a crisis of significant proportions –<br />

the outbreak in 2001 of Foot and Mouth:<br />

“It had a devastating impact not only on<br />

the UK farming community but also the<br />

grocery and wider retail sectors,” Russell<br />

says. Russell’s time was also marked by<br />

a happier incident in which he played a<br />

leading role, the introduction of the first<br />

free ‘proof of age’ scheme for younger<br />

people, a scheme that is still very much<br />

alive and well today.<br />

By December 2003, Russell had become<br />

Head of Public Affairs and was presented<br />

with his next opportunity. He was asked<br />

to help establish a new trade association<br />

for the energy sector, the Energy Retail<br />

Association (now Energy UK). His CEO<br />

and mentor was Duncan Sedgwick, a<br />

former senior executive at Powergen, and<br />

the organisation was starting from the<br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 21<br />

continues on page 22 >


AUTHOR – Sean Feast FCI<strong>CM</strong><br />

ground up: “I remember we started in an<br />

office no bigger than a broom cupboard<br />

and on the first day I had to go around and<br />

blag some laptops to get us operational!”<br />

Russell soon had his hands full dealing<br />

with media and politicians, as well as<br />

various lobbying groups: “Fuel poverty<br />

and climate change were both issues that<br />

had by then become topical and excited<br />

the politicians and the press, and after the<br />

first hike in gas prices since privatisation<br />

I found myself dealing with yet another<br />

crisis.”<br />

Again, however, this period of change<br />

and uncertainty was balanced with more<br />

positive initiatives, not least the planned<br />

introduction of Smart Metering by 2020,<br />

an issue that Russell felt passionate about.<br />

As Director of Corporate Affairs he played<br />

a key part in lobbying government for<br />

a mandate for a nationwide roll out of<br />

smart meters, as well as campaigning to<br />

raise awareness of the dangers of carbon<br />

monoxide with the transition from Corgi<br />

to Gas Safe.<br />

With the departure of Duncan Sedgwick<br />

in 2008 and the arrival of a new CEO, he<br />

sought to widen his skill sets: “Although<br />

I had experience in media relations as<br />

well as public affairs, I wanted something<br />

more specifically comms related on my<br />

CV,” he explains.<br />


As Head of Communications for the<br />

Finance & Leasing Association, Russell<br />

found the perfect role: “I positioned<br />

communications as a core function of<br />

the Association and doubled our media<br />

exposure in the first 12 months. Working<br />

with the FLA gave me real coalface<br />

experience and understanding of how<br />

to work with journalists and the media<br />

covering Financial Services.”<br />

After three and a half years at the FLA<br />

he was approached to take on an even<br />

more challenging role as CEO of the<br />

Consumer Finance Association – home of<br />

the payday lender.<br />

“Payday lenders were disruptive, techbased<br />

start-ups, usually with US backing,<br />

who took a very different approach to<br />

Financial Services,” he explains. “I quickly<br />

found that it was a vibrant, energetic,<br />

ambitious industry where there was a<br />

clear demand for its product, but where<br />

they hadn’t quite worked out how to work<br />

with the UK Government and so there was<br />

a culture clash.<br />

“Their advertising style was brash and<br />

typically American, and they began by<br />

trying to force-fit their US model into the<br />

establishment of UK finance and there<br />

was understandable resistance from the<br />

big players. The emergence of payday<br />

was a response to the credit crunch,<br />

which was set in the context of a creditdriven<br />

society that was struggling to offer<br />

lending options to all but the most creditworthy<br />

consumers.”<br />

Russell’s brief was open; he was<br />

tasked with creating a fully-fledged trade<br />

association and immediately set about<br />

finding an office and building a top team<br />

to help his members navigate through the<br />

political and media storm that followed.<br />

He likens the reaction to the launch of the<br />

first mobile phones:<br />


“When mobiles were first introduced,<br />

there were scare stories that a mobile<br />

would fry your brain, or that mobile masts<br />

would send damaging electro-magnetic<br />

fields into your living rooms. Then<br />

consumer power turned the tide, and<br />

people started asking for more masts to be<br />

built so they could get a better reception.<br />

“The problem is that all of the time the<br />

regulators are playing catch up, especially<br />

with new and emerging markets and this<br />

is precisely what happened to pay day<br />

lending. The regulators squeezed the<br />

fledgling industry so hard that they almost<br />

squeezed the life out of the sector. But we<br />

had to go through the storm to come out<br />

the other side in better shape and with a<br />

smarter product.”<br />

Russell’s role was the public face of the<br />

industry and he defended lenders against<br />

a range of detractors. It was challenging<br />

to say the least. He identifies the current<br />

concern as the aggressive approach of<br />

Claims Companies who see the alleged<br />

‘mis-selling’ of payday loans as a cash cow<br />

for their own industry.<br />

“What we forget,” Russell says, “is<br />

the creative thinking and innovative<br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 22


AUTHOR – Sean Feast FCI<strong>CM</strong><br />

“There was a trout<br />

farm on one of the<br />

farms that we lived,<br />

and for a time I<br />

thought of becoming<br />

a Fishery Manager,<br />

but not getting high<br />

enough grades at<br />

Chemistry and Maths<br />

it was not to be.”<br />

technology that many of these high-cost<br />

credit providers brought to the Financial<br />

Services community, especially when it<br />

comes to assessing affordability. There<br />

are many unicorn start-ups that have also<br />

done well out of the payday firms that<br />

were early adopters of new technology.”<br />

After almost five years at the CFA,<br />

Russell accepted his current job as CEO<br />

of CIVEA. Many of the issues he managed<br />

at the CFA apply in the world of civil<br />

enforcement, not least the emerging<br />

popularity of affordability assessment:<br />

“It is interesting that few if any Local<br />

Authorities carry out affordability checks<br />

on their customers before enforcing a<br />

debt,” he says.<br />

“When a Local Authority instructs an<br />

agent, it is at the end of the collection<br />

process. The council has been unable to<br />

engage with the debtor and has gone to<br />

court. That is the social justice system in<br />

action. The enforcement rules are there,<br />

and they are prescriptive, which involve<br />

seizing someone’s belongings for sale<br />

at auction. The rules do not say that the<br />

enforcement agent must agree a payment<br />

arrangement. It is not in the regulations,<br />

and sometimes it is not even at an agent’s<br />

discretion.<br />

“The agent acts on behalf of the Local<br />

Authority and it is not always up to him or<br />

her how to respond to vulnerable debtors.<br />

Different councils have different policies<br />

on this matter, though it is interesting how<br />

Local Authorities are often conspicuous<br />

by their silence on the subject. It is much<br />

easier simply to blame the agent for not<br />

being more lenient.”<br />


Vulnerability, Russell knows, is a big issue.<br />

“Today, the word ‘vulnerable’ has become<br />

desensitised; it is used liberally by people<br />

to exempt themselves from paying tax.<br />

Local Authorities demand evidence that a<br />

debtor is vulnerable; they will not take it<br />

on the say-so of the agent.”<br />

But, he says, that again is both a<br />

challenge and a contradiction: “Our<br />

members want to support the genuinely<br />

vulnerable but are not always able to do<br />

so without the requisite evidence.”<br />

He says his members recognise that<br />

the majority of debtors are not wilfully<br />

avoiding paying their Council Tax, for<br />

example, but that the issue is being looked<br />

at from the wrong end: “Some 97 percent<br />

of Council Tax is collected, and that is the<br />

envy of the world,” he explains. “But it is<br />

far too simple to say that the remaining<br />

three percent are all vulnerable. It can<br />

be much more complicated. The more<br />

pertinent debate is whether the Council<br />

Tax model is still fit for purpose but it<br />

would not be politically expedient for any<br />

government to raise this issue.<br />

Russell is wary of complaints raised by<br />

the debt advice sector and other pressure<br />

groups, but is not afraid to confront their<br />

accusations robustly: “I am not afraid of<br />

going head-to-head but will always do so<br />

with mutual professional respect and an<br />

absolute conviction that I believe what I<br />

am saying. The enforcement process is<br />

fundamentally sound. In my experience<br />

when certain parties complain, they are<br />

actually usually expressing a dislike of the<br />

rules, and not whether or not they have<br />

been correctly applied.<br />

“To bring about change you have<br />

to bring all parties with you. I would<br />

rather work with the industry than be a<br />

campaigner in the wings. My expertise<br />

complements that of my members’ and<br />

we can learn from each other.”<br />

NEW CODE<br />

Russell insists he is not ‘the guy always<br />

representing the bad guys’ but enjoys<br />

the opportunities and challenges that<br />

the ‘issues-rich’ roles have given him. At<br />

the time of our conversation, CIVEA is<br />

about to launch details of its new Code, a<br />

Compliance Board (he is actively recruiting<br />

independent parties to join), and a new<br />

complaints procedure. He engages<br />

closely with other Trade Associations and<br />

membership organisations, including the<br />

CI<strong>CM</strong>: “Sharing knowledge is important<br />

and we work with the broad church of<br />

CI<strong>CM</strong> members,” he adds.<br />

Despite a very busy schedule, Russell<br />

still finds time to relax, if that is the right<br />

word, watching his beloved Southampton<br />

FC: “We stayed up this year, but every<br />

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

more exciting than being a Manchester<br />

City fan anyway.”<br />

As a country man at heart he is a keen<br />

angler: “My record catch was a 22-pound<br />

Pike when I was 14, and I had to wait<br />

almost 40-years before I caught another<br />

one of 20-pound plus. But that’s why they<br />

call it fishing and not catching!”<br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 23


Strong-arm tactics<br />

More than £4 billion was stolen as a result of online<br />

card fraud last year, but help is at hand.<br />

AUTHOR – Adam Bernstein<br />

EUROPE has, for some<br />

time, been worried about<br />

online card fraud. As part<br />

of the fight back, from<br />

14 September <strong>2019</strong> a new<br />

process known as Strong<br />

Customer Authentication (SCA) made<br />

under the Revised Directive on Payment<br />

Services (PSD2) will be in place which<br />

itself came into force in January 2018.<br />

SCA is effectively an extra layer of<br />

security designed to prevent payment<br />

fraud. It ensures that online card<br />

transactions become more secure through<br />

‘multi-factor authentication’ – a second<br />

check to demonstrate that both the<br />

transaction and card holder are genuine.<br />

The aim of SCA is to be the ‘chip and pin’<br />

of the online world; and be applied to<br />

transactions over a certain value – €30.<br />

But while SCA targets the online<br />

transaction, Mark Nelsen, Senior Vice<br />

President, Risk and Authentication<br />

Products at card processor Visa, says that<br />

banks and merchants may also need to<br />

regularly check that contactless payments<br />

are made by the correct cardholder too<br />

– by asking for a PIN. “This,” he says,<br />

“might occur after a contactless card has<br />

been tapped five times in succession,<br />

or when €150 has been spent using only<br />

contactless taps.”<br />

SCA could mean any one of numerous<br />

authentication methods such as an online<br />

PIN or password, a device that only the<br />

cardholder can authenticate – say a<br />

smartphone, or a biometric trait such as<br />

a fingerprint or facial recognition that is<br />

clearly very personal.<br />

For some retailers, there are worries<br />

that this extra layer of protection will<br />

add unnecessary complexity which will<br />

irritate customers who subsequently<br />

abandon their ‘shopping carts’ part way<br />

through the buying process – leading to<br />

lost sales.<br />

Just as the GDPR revolutionised<br />

how data protection is managed and<br />

individuals access their information, so<br />

SCA is going to change how retail works.<br />

WHAT IS PSD2?<br />

As the name suggests, PSD2 is an update<br />

on the original Payment Services Directive<br />

(PSD) that was brought into force in 2007.<br />

Its stated goal was for a single market for<br />

payments with easier and more efficient<br />

cross border payments, so that it mattered<br />

not if a payment was made to another<br />

within the same member state or to a<br />

party in a different member state.<br />

PSD2 expands on PSD by permitting<br />

third-parties to access an individual’s<br />

account information via the ‘Open<br />

Banking’ protocol; enhancing consumer<br />

rights, especially in relation to currency<br />

charges; and enhancing card holder<br />

security via SCA.<br />

Change was clearly needed as both<br />

credit and debit card usage is dramatically<br />

on the increase, and with a rising level<br />

of card use comes increasing risks of<br />

fraud. The European Central Bank, in<br />

its Fifth report on card fraud, published<br />

September 2018, found that that cards<br />

issued within Europe saw fraudulent<br />

transactions to the tune of €1.8bn in 2016<br />

and that 73 percent of that sum related to<br />

card not present transactions.<br />

Not everyone is in favour of SCA. In<br />

2016, card processor Visa argued that the<br />

new process would risk disrupting online<br />

shopping while not necessarily increasing<br />

security. The point is well made from<br />

its perspective as its fortune naturally<br />

depends on transaction volume.<br />


Compliance with the new regime is<br />

mandatory. If the online trader doesn’t<br />

comply then all transactions will be<br />

automatically declined by the cardholderʼs<br />

bank when they attempt to make a<br />

purchase. Further, by not planning ahead<br />

and developing authentication processes<br />

that offer the least friction to consumers<br />

traders could see huge falls in sales as<br />

consumers switch off and march with<br />

their feet.<br />

Considering that, according to<br />

Ecommerce Europe in its European<br />

Ecommerce Report 2018 Edition, the<br />

European business-to-consumer online<br />

economy is worth around €602bn in<br />

2018 (up from €307bn in 2013), if only<br />

ten percent of consumers – let alone<br />

a potential 25 percent that could walk<br />

– abandon a transaction because of<br />

complexity or irritation then firms stand<br />

to lose huge sums.<br />

But with new rules comes opportunity<br />

– a chance to market themselves to<br />

customers as both being secure and<br />

trustworthy, as well as having the simplest<br />

way possible of complying with the<br />

new rules. Of course, consumers want<br />

protection, but in today’s modern world,<br />

they also want simplicity and they want it<br />

now.<br />

The rollout won’t be easy. While EU<br />

demands compliance, every member<br />

state will see different interpretations<br />

of PSD2. Whether that’s from the banks,<br />

card issuers or central bank, there will be<br />

differences. On top of this there is the €30<br />

exemption to take into account.<br />


The first step for any online trader is<br />

to set their systems to recognise when<br />

transactions need to abide by SCA (i.e.<br />

above the €30 threshold) or when they<br />

don’t. Further, recurring payments will<br />

also be exempt so that needs noting by<br />

the system. Allied to this is the option<br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 24

Fraud on Tap<br />

Fraudsters are targeting new areas<br />

but the net is closing in.<br />

AUTHOR – Nick Mothershaw<br />

for a customer to ‘whitelist’ a business<br />

with their card issuer so that future<br />

purchases made from that business fall<br />

outside of the multi-step authentication<br />

regime. That said, some banks won’t<br />

permit this and with the sheer number<br />

of banks in Europe this may not even<br />

be an option for all but the largest of<br />

traders.<br />

The second step is for a business<br />

to consider how SCA is to be operated<br />

within its trading platform. Is it to be by<br />

text, smartphone, email, biometric trait<br />

or other option? Given the size of some<br />

firms such as Amazon the options are<br />

many. But for the smaller independent<br />

a text- or email-based process is<br />

likely to be more appropriate. Visa<br />

suggests that for transactions that<br />

require SCA, a business should have<br />

what is known as 3-D Secure 2.0 (3DS) in<br />

place to enable them to apply exemptions<br />

such as low-risk transaction analysis or<br />

perform two-factor authentication when<br />

needed. The benefit to traders of 3DS<br />

is that it allows issuing banks to verify<br />

credit card owners during the transaction<br />

process – this means that those firms<br />

using this protocol can transfer<br />

liability for fraud disputes away from<br />

themselves.<br />

Lastly, firms need to think about<br />

whether they want to implement SCA<br />

internally – and so become ‘expert’ – or<br />

hire in third-party help to undertake<br />

the task. A conversation with a firm’s<br />

merchant acquirer would be time<br />

well spent.<br />

Just as the GDPR<br />

revolutionised how<br />

data protection<br />

is managed and<br />

individuals access<br />

their information,<br />

so SCA is going to<br />

change how retail<br />

works.<br />

IT’S long been the case that if<br />

you carried out a straw poll in a<br />

busy café in a city or town asking<br />

if anyone had been a victim of<br />

fraud in the last year, a few hands<br />

would go up.<br />

The UK’s main conurbations have<br />

served as a lucrative hunting ground for<br />

fraudsters. The rising popularity of city<br />

living means more blocks of apartments<br />

where mail is often left in communal mail<br />

areas, or simply left lying around. It makes<br />

it easy for fraudsters to drop in unnoticed<br />

and pick up the letter which contains the<br />

credit or debit card they have applied for<br />

in a victim’s name.<br />

Yet the latest Hunter fraud statistics<br />

from Experian show fraudsters are looking<br />

beyond those who frequent trendy high<br />

street cafes, and turning more attention to<br />

those enjoying a drink in the countryside<br />

pub.<br />

There was a 29.5 percent rise in fraud<br />

against well-off homeowners living in the<br />

countryside, who either make lengthy<br />

commutes to work or have retired.<br />

Fraudsters have taken advantage of<br />

mailboxes which sit at the end of long<br />

driveways, where criminals can operate<br />

out of view from the residents.<br />

Suburbanites also experienced a rise in<br />

fraud, with 7.5 percent more cases against<br />

people living in family homes whose<br />

children are either older or have flown<br />

the nest. Fraudsters have also got older<br />

people in their crosshairs – the over 60s<br />

saw an 11.5 percent increase in fraud last<br />

year, more than any other age group, while<br />

people in their 50s were the only other age<br />

group to experience a rise in third party<br />

fraud.<br />

Part of the fraudsters’ logic for targeting<br />

out-of-town locations is that the residents<br />

of the properties are often wealthier<br />

and eligible for higher credit limits, so<br />

make for a more profitable mark. Areas<br />

commutable to London are being hit –<br />

such as Cheshunt in Hertfordshire, Grays<br />

in Essex, and Sevenoaks and Gravesend in<br />

Kent.<br />


At Experian, we uncover a new fraud<br />

every 15 seconds. While we’re proud of<br />

this number, there’s much more that both<br />

individuals and organisations can do to<br />

frustrate fraudsters.<br />

As a consumer, it’s important to deny<br />

fraudsters the physical documents they<br />

need to make an application in your name.<br />

For people living in blocks with communal<br />

mail facilities, that means keeping a keen<br />

eye on your post and ensuring it’s not left<br />

somewhere where it can easily be picked<br />

up. Think carefully if you’re expecting a<br />

letter and it doesn’t turn up.<br />

It’s also worth considering if your<br />

mailbox is accessible from outside.<br />

A locked mailbox might block an<br />

opportunist, but professional fraudsters<br />

will know which type of keys open the<br />

locks to the mailboxes you can buy on the<br />

high street. If it’s at all possible to have<br />

your post drop through the door, or at least<br />

somewhere it can be seen from your home,<br />

then that’s preferable.<br />

Checking your credit report on a regular<br />

basis can act as an early warning sign to<br />

stop fraudsters from making a string of<br />

applications in your name. Take action at<br />

the first sign of an account opening you<br />

don’t recognise.<br />

For people who have been affected,<br />

Experian operates a free victims of fraud<br />

service which helps people repair the<br />

damage done to their credit history by<br />

criminals.<br />


Organisations are always on the lookout for<br />

innovative new ways to identify fraudulent<br />

applications and machine learning is the<br />

latest tool at their disposal. It learns from<br />

previous incidents, whether an application<br />

was found to be fraudulent or not, and<br />

adjusts which cases it flags accordingly.<br />

As a result, lenders’ fraud teams have<br />

a more concentrated set of applications<br />

flagged to them for further review, so they<br />

can work more efficiently. It also means<br />

that applicants are more likely to have a<br />

smooth and complete online customer<br />

journey, rather than needing to wait for<br />

a decision or to ring a lender to provide<br />

more information.<br />

Trends in fraud change over time, as<br />

criminals look to exploit vulnerabilities<br />

in the system, or in human behaviour. A<br />

combination of consumer vigilance and<br />

innovative approaches from lenders is the<br />

key to stopping fraudsters in their tracks.<br />

Nick Mothershaw is UK&I Director of<br />

Identity and Fraud Solutions at Experian.<br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 25


The more things change…<br />

UK exporters that embrace the changes forced by<br />

Brexit will find opportunities beyond the EU.<br />

AUTHOR – Lesley Batchelor OBE FCI<strong>CM</strong><br />

Lesley Batchelor<br />

THERE is a great deal being said at<br />

the moment about how the way<br />

we trade with the rest of the world<br />

is due to change significantly<br />

in the years to come. Brexit<br />

will no doubt change several<br />

aspects of trade for UK exporters – including<br />

the introduction of a lot of paperwork for<br />

companies to complete to continue to sell into<br />

Europe, as well as potential new tariffs should<br />

a ‘no deal’ occur. Yet, for those of us who have<br />

been exporting beyond the EU for decades,<br />

customs checks and piles of documentation<br />

will already be familiar. We already know<br />

about customs declarations, rules of origin and<br />

looking through tariff schedules and we should<br />

be assuring businesses who are new to all this<br />

that it’s all perfectly doable, you just need to<br />

apply yourself to it.<br />

Exporting to the EU is about to change for<br />

many businesses, but the processes of global<br />

trade will remain the same. At the Institute of<br />

Export & International Trade, we have a saying<br />

that ‘exporting is easy when you know how’.<br />

Never has such a phrase had more importance.<br />

For those 150,000 companies selling only<br />

into Europe presently, Brexit could of course<br />

have a significant impact on their costs and<br />

administrative processes. Indeed, with global<br />

tariff rates likely to become more mutable due<br />

to rising protectionism and the increase of<br />

trade disputes between major nations, the costs<br />

of international trade could be in for a period of<br />

disruption.<br />


The processes of international trade – or at least<br />

the mindset required to get to grips with them<br />

– will remain the same. You will always need<br />

to ensure you’re on top of the documentation<br />

required to move goods over borders and you<br />

will need to know the tariff code for your<br />

product and the duty and taxes tracked by<br />

that code in the market you’re selling to. When<br />

looking to use a preferential trade agreement<br />

to pay lower duty, you will need to understand<br />

rules of origin in order to prove that the reduced<br />

tariff rate applies to the goods you are moving.<br />

Whatever the changes ahead, these sorts<br />

of processes will remain the same. As with<br />

anything, you will need to approach trade<br />

with a mindset of wanting to do it properly. If<br />

you don’t look into the legal and fiscal<br />

requirements for your goods to be moved into a<br />

new country, then you risk delays at the border,<br />

potential fines and reputational damage.<br />

International trade should be viewed as an<br />

investment. Whatever the climate, you will<br />

always need to understand the market you’re<br />

selling to, do due diligence on the people you<br />

partner with, and have a plan for how you<br />

can grow and sustain your business in that<br />

market. If you’re not sure how to do all this, or<br />

if you are daunted by documentary and legal<br />

requirements which you know little about at<br />

this stage, ask for help and take the time to<br />

learn. There is so much support out there – from<br />

Government to the Chambers of Commerce, to<br />

the training, qualifications and technical help<br />

that we provide at the Institute.<br />

Exporting is an investment and there<br />

is plenty of uncertainty about some of the<br />

specifics in the trading landscape in the coming<br />

years. Yet, it remains a worthwhile investment,<br />

as international trade allows you to spread risk,<br />

reach new customers and increase your profits.<br />


Brexit does create uncertainty, but it creates<br />

uncertainty in the UK market as much as it<br />

does in Europe or elsewhere. One of the best<br />

ways of mitigating this risk is therefore to look<br />

to markets around the world where there is<br />

growth and relative stability.<br />

Research from HSBC estimated that 70<br />

percent of future world growth will come<br />

from emerging economies while a report from<br />

the ONS showed that most of the UK’s fastest<br />

growing exporter partners for 2018 were also<br />

from emerging markets. The way in which we<br />

trade with several of these markets will remain<br />

the same, whatever happens with Brexit, and<br />

the costs involved will probably be easier<br />

to predict than for the EU in the immediate<br />

future. The duty payable for importation to<br />

several emerging markets will remain at the<br />

‘Most Favoured Nation’ rate lodged by the UK in<br />

that market under WTO rules.<br />

If uncertainty and unpredictability are<br />

stopping you from expanding overseas, we’d<br />

suggest looking at markets where the trading<br />

conditions are likely to remain more stable. As<br />

long as you get to grips with how international<br />

trade operates and do the work and research<br />

required for each market, global trade will<br />

remain a source of opportunity rather than a<br />

threat.<br />

Lesley Batchelor OBE FCI<strong>CM</strong> is Director<br />

General of the Institute of Export and<br />

International Trade.<br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 26

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The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 27


TRADE<br />

Monthly round-up of the latest stories<br />

in global trade by Andrea Kirkby.<br />


ACTION against Chinese telecoms<br />

manufacturer Huawei has shown that<br />

the trade war can have very specific<br />

impacts on the supply chain, too.<br />

The US has put Huawei on an export<br />

blacklist and that’s led to action from<br />

a number of tech companies. For<br />

instance, Google has said it won’t<br />

supply Huawei with Android updates,<br />

leaving the company high and dry<br />

when pushing updates out to its<br />

user base. The German economics<br />

ministry has taken the situation<br />

JUST when we thought it was maybe the end<br />

of the skirmishes, a whole new chapter of the<br />

US-China trade war has started.<br />

Talks following an end-2018 truce appear<br />

to have fallen apart, and the US has raised<br />

tariffs from ten percent to 25 percent. China<br />

is expected to retaliate – and that could lead<br />

to a sharp deterioration in global trade. One<br />

big problem now is that, like Brexit, the tradewar-or-not-trade-war<br />

has been rumbling on<br />

for far too long, creating uncertainty. Tariffs<br />

have already led to a fall in Chinese trade –<br />

both imports and exports – and US exports<br />

of raw materials and food to China have more<br />

than halved. But these are small hits in terms<br />

of global GDP.<br />

seriously enough to investigate the<br />

impact on German tech companies.<br />

Semiconductor firms and software<br />

firms could easily get caught out. If<br />

you're supplying tech firms, it’s worth<br />

checking whether they’re vulnerable.<br />

More generally? A lesson that<br />

just examining customers’ financial<br />

statements isn't enough. You need to<br />

have a good idea of just where they’re<br />

selling – and you might need to look<br />

several steps up the supply chain, not<br />

just at their direct customers.<br />


What’s more serious is that firms are<br />

rerouting their trade flows. For instance, the<br />

US is now importing more electrical goods<br />

from South Korea and Mexico to replace<br />

Chinese supply – but other countries will<br />

lose out on supplying components to Chinese<br />

manufacturers. That will lead to market<br />

turbulence, and as an exporter you’re going<br />

to need to be at the top of your game to track<br />

who's winning and who’s losing.<br />

The new tariff rise could also have a much<br />

more severe impact than last year's action.<br />

One bank believes US earnings could fall by<br />

five percent – that’s a pretty serious decline.<br />

And if that touches off a stock market crash,<br />

life could get very sticky, very quickly.<br />


GREAT Yarmouth based ATAM Group is<br />

another business that finds export markets<br />

rather different from its home base. Its oil and<br />

gas tooling and software are very specialised,<br />

so it has diversified across a number of<br />

geographical markets to try to spread its<br />

risks. Its sales are over 60 percent export.<br />

But it has actually found that the Middle East<br />

offers significantly bigger contracts than<br />

the UK, because there are major new piping<br />

construction projects out there.<br />

You might say ATAM exports because<br />

it has to. But many companies restrict<br />

themselves to a small UK market when<br />

there’s a much bigger export market out<br />

there. Where ATAM has excelled is in getting<br />

to grips with the technicalities of exporting<br />

– whether that's getting the right distributors<br />

in place or managing export paperwork<br />

and regulations – and pushing on into new<br />

markets. That’s meant plenty of travelling, a<br />

lot of missions, a lot of exhibitions – and a lot<br />

of new business.<br />


THE UK continues to do well at exporting<br />

alcohol. We exported £8.3 billion of beverages<br />

in the year to February <strong>2019</strong>, up seven<br />

percent, creating a trade surplus of £1.6<br />

billion in the sector. India and Japan, in<br />

particular, are showing strong demand, with<br />

both gin and whisky doing well.<br />

Spirit of Harrogate is one exporter that’s<br />

doing well. The company was only founded<br />

in 2014 but it’s already exporting around<br />

the world, and recently signed a deal with a<br />

Chinese distributor. New Zealand, Germany,<br />

Malta, Denmark, Finland and Croatia have<br />

also fallen for its Slingsby gin, including an<br />

unusual rhubarb version.<br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 28

Ramadan Mubarak<br />

Algeria’s not a ‘failed state’<br />

THE ‘Algerian Spring’ continues. Former<br />

president Bouteflika has now stepped<br />

down, but the situation remains fluid.<br />

Protestors are currently resisting the<br />

army's call for early elections; they want a<br />

transitional authority to be set up to review<br />

the constitution and create a new elections<br />

overseer first.<br />

While political risk is high, the economy<br />

represents another significant risk. The<br />

economy has been too reliant on oil,<br />

which represents around 80 percent<br />

of total current account receipts; the<br />

collapse in the oil price since 2014 has hurt<br />

government finances, and there has been<br />

no reform to restructure the economy or<br />

kickstart other sectors. This leaves the<br />

country with a budget deficit and a current<br />

account deficit.<br />

What's the good news? Algeria's foreign<br />

exchange reserves, still at over a year<br />

despite recent falls. The economy is still<br />

functioning – Algeria’s not a ‘failed state’ –<br />

and if oil prices do go up, there could be a<br />

boost to the country's finances.<br />

The UK has typically exported heavy<br />

machinery – transport equipment, power<br />

machinery, vehicles – as well as chemicals<br />

and iron and steel. But there are increasing<br />

opportunities in education and training<br />

– despite having been a French colony,<br />

Algeria places high importance on English<br />

language training – and in agriculture.<br />

(The consumer market is not very highly<br />

developed; price rather than branding has<br />

usually been the main selling proposition.)<br />

However, you'll want very tight control of<br />

credit if you're selling into the country.<br />

US-Iran – another worry<br />

THE Middle East has also seen further<br />

destabilisation recently with increasing<br />

tensions between the US and Iran.<br />

There’s no political will to engage in<br />

conflict, but the risk of such conflicts<br />

arising accidentally is what worries the<br />

credit insurer Credendo.<br />

The reimplementation of sanctions<br />

is ratcheting up pressure on the Iranian<br />

economy, which shrank by four percent<br />

last year and will probably shrink a<br />

further six percent this year. That’s<br />

actually helping the hardliners in the<br />

country, who can point to the economic<br />

damage as a reason for escalation.<br />

But it’s not just Iran that’s affected.<br />

Both the US and Iran have a military and<br />

political presence in Iraq. Iran may also<br />

increase support for the Houthi rebels in<br />

Yemen and is involved in Syria and to a<br />

lesser extent in Lebanon. So that’s a large<br />

part of the Middle East that could be put<br />

off its balance.<br />

But the more worrying impact for<br />

most exporters is the potential impact<br />

on the oil price. Out of a list of major<br />

oil producers, there’s a huge slug of<br />

countries with high political risk.<br />

Venezuela – currently out for the count.<br />

Algeria – going through its own delayed<br />

Arab spring. Nigeria – dealing with both<br />

terrorism and a highly disputed election.<br />

And don’t forget Iran could blockade<br />

the Strait of Hormuz. That could easily<br />

send oil all the way up from today’s $60<br />

up to $100 a barrel or more. That would<br />

wipe 0.6 percent off global growth, and<br />

lead to inflationary pressure in major oil<br />

importing economies.<br />

If you add that to the China trade war<br />

escalation, it could create an economic<br />

perfect storm. Or it might just give other<br />

oil producing countries like Colombia a<br />

shot in the arm, while damaging the big<br />

importers, like India.<br />

VIMTO has been exporting for rather longer<br />

than Spirit of Harrogate – it’s been selling in<br />

the Middle East for nearly a hundred years.<br />

Its sales charts are fascinating – low, steady<br />

sales all year, and then a sudden spike as<br />

Ramadan approaches. It sells 25 million<br />

bottles for iftar (fast-breaking) meals during<br />

Ramadan – pretty much as synonymous<br />

with Ramadan as turkey is with Christmas.<br />

It even has its own memes on Twitter.<br />

That's a reminder that your export<br />

markets could be very different from your<br />

market in the UK! Seasonality may well be<br />

different, so applying the same DSOs you<br />

do in the UK might not always work well;<br />

and if you find export markets are using<br />

your product in a completely different way<br />

from what you’d expected, it's probably best<br />

to follow Vimto’s lead and embrace that<br />

difference.<br />

The Philippines<br />

S&P recently raised The Philippines credit<br />

rating to BBB+ – the highest it’s ever been.<br />

It's now investment grade with all three<br />

major credit rating agencies, the result<br />

of fiscal stability under the last three<br />

administrations.<br />

GDP is expected to grow at an average<br />

4.9 percent a year till 2020, and 6.3 percent<br />

this year – it’s one of the fastest growing<br />

economies in the region. It’s slowed<br />

recently, mainly due to budget delays and<br />

lacklustre exports, but that's expected to<br />

be a temporary blip. It also has a growing<br />

consumer base which should attract<br />

consumer goods exporters – some British<br />

retailers have already made it out there.<br />

Another area in which British exporters<br />

are doing well is in infrastructure<br />

investment. There’s much going on – the<br />

‘Build Build Build’ initiative does what it says<br />

on the tin! – and green energy is a particular<br />

focus. But keep an eye on the peso; it hasn’t<br />

always been the most stable of currencies,<br />

though it's behaving itself at the moment.<br />



CALL 020 7738 0777<br />

Currency UK is authorised and regulated<br />

by the Financial Conduct Authority (FCA).<br />


GBP/EUR 1.1534 1.1196 Up<br />

GBP/USD 1.2953 1.2563 Down<br />

GBP/CHF 1.3057 1.2543 Up<br />

GBP/AUD 1.8659 1.8130 Up<br />

GBP/CAD 1.7445 1.6799 Down<br />

GBP/JPY<br />


142.049 136.533 Up<br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 29




Can we rely on Artificial Intelligence<br />

for credit analysis, especially when no<br />

financial data is available?<br />

AUTHOR – Angelique Assaf<br />


the workplace, derived<br />

from this technological<br />

epoch that we are all living<br />

through, have provided a<br />

heavy reliance on Artificial<br />

Intelligence (AI) for many tasks. From<br />

menial day-to-day activities such as<br />

sorting emails into spam to more complex<br />

projects such as reading and analysing<br />

medical scans in hospitals.<br />

AI is both complex and simple; it can<br />

provide the perfect platform for businesses<br />

to increase efficiency and productivity, if<br />

managed correctly. Our tech-driven world<br />

begs the question of how is your company<br />

using AI? Rather than is your company<br />

using AI? Credit analysis is one aspect<br />

that AI has shown huge advancements in,<br />

through managing data, assessing credit<br />

risk and providing a scoring system.<br />

Artificial Intelligence can mitigate human<br />

errors in highly data-driven tasks, such as<br />

credit analysis. However, it is important<br />

to understand the limitation of AI, which<br />

further begs the question, how reliable is<br />

the credit analysis?<br />


In reaction to the rise in technological<br />

advancements, algorithms have been<br />

created to replace human intervention<br />

for traditionally time-consuming tasks.<br />

Some of these tasks include, but are by<br />

no means limited to, data entry, research<br />

and even analysis and decision-making.<br />

The credit industry is a great example<br />

of AI in the workplace. The value of<br />

creditworthiness is calculated in parallel<br />

with the likelihood that a business<br />

will or can pay back credit. However,<br />

the normative means of assessing this<br />

requires a multitude of factors, each with<br />

a different weight of effect on the final<br />

assessment. Artificial Intelligence used<br />

to accomplish these assessments requires<br />

an automation of calculus and being able<br />

to utilise the quantitative and qualitative<br />

factors, including specifically allocated<br />

weights and scores per assessment.<br />

‘Work smarter, not harder’ is an ethos that<br />

has been widely adopted by companies,<br />

proving to increase efficiency, success<br />

and profitability. Thereby combining past<br />

experiences, statistics and analysis in<br />

order to generate an automated system,<br />

companies can formulate the necessary<br />

algorithms to perform automatically.<br />

Automated algorithms are formulas<br />

that have been created, tested and<br />

applied by researchers, analysts and<br />

strategists in order to develop a functional<br />

process of calculation to form a specific<br />

score or value using the same data<br />

factors. Scorecards act as a template in<br />

which consistent and more reliable<br />

results can be generated, relieving any<br />

guesswork that may have previously<br />

been involved within the process. With<br />

automated AI technology, results only<br />

differ depending on changes to input or<br />

value weight.<br />

Reliability of human intervention<br />

in processes such as scoring has often<br />

been questioned for a variety of reasons.<br />

For example, humans tend to finalise on<br />

numbers that are rounded figures when<br />

producing a score or value after a study<br />

of a variety of elements. Alternatively, and<br />

accurately, AI through the use of formulae<br />

could derive a three digit decimal value<br />

after running the algorithms on the input<br />

data. Therefore, AI also takes out any<br />

subconscious human intervention that<br />

may be inconsistent and lead to biased<br />

results. AI output is purely mathematical<br />

and reliant on data given and the weight<br />

each data carries. Conclusively, reliability<br />

is maintained by sourcing data from<br />

reliable sources and when algorithms are<br />

created on the basis of statistical modules<br />

from experienced analysts.<br />


The use of technology for credit analysis<br />

has a wide array of benefits; one of<br />

the principle benefits is the ability for AI<br />

to comprehensively provide automated<br />

scorecards for credit ratings. By using<br />

algorithmic methods via formulas applied<br />

on the data, the scoring system becomes<br />

instant, highlighting the efficiency of AI.<br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 30


AUTHOR – Angelique Assaf<br />

Furthermore, there are a range of other<br />

benefits that we can distinguish:<br />

• Improvements in operational efficiency:<br />

The process of evaluating credit<br />

risk when applying credit scoring is<br />

automated, thereby, eliminating human<br />

intervention that may lead to errors.<br />

• Time and cost efficiency: removing<br />

human invention reduces the<br />

operational costs of credit analysts and<br />

also saves time for the clients.<br />

• Accuracy: AI has a standard, accurate<br />

and consistent means of analysis using<br />

computed rules and calculations.<br />

• Flexibility: It provides a flexible<br />

algorithm that can be challenged and,<br />

therefore, constructively improved by<br />

Data Scientists.<br />

• Consistency: It provides broadly<br />

consistent results which represent a<br />

reliable and optimal estimation.<br />

• Directness: AI reduces guesswork<br />

that may be involved in the process of<br />

making everyday decisions.<br />

• Instant availability: It provides an<br />

automatic determination of the level of<br />

risk that a business has.<br />

• Intuitiveness: AI can assist the client in<br />

what their next steps will be, within a<br />

process. For example, a recommended<br />

level of due diligence.<br />

• Reliability: The process is designed to<br />

be objective, with no human standards<br />

that can create bias.<br />

• Simplicity: AI technology is relatively<br />

simple to follow and easily interpreted.<br />


It is important to understand and assess<br />

what data AI analyses to output the<br />

results. A credit analysis of company data<br />

is a combination of both financial data<br />

and non-financial data. The latter relies<br />

on an input of quantitative and qualitative<br />

data.<br />

Some determinants that effect<br />

creditworthiness could be:<br />

• Country of incorporation – country risk<br />

• Date of the business<br />

• Legal form – type of a business<br />

• Shareholders – owners of a business<br />

• Number of employees<br />

• Premises<br />

• Payment behaviour<br />

• Operations and activities<br />

• Management<br />

• Capital<br />

• Turnover and net profit<br />

• Ratio analysis<br />



Although many countries, in this day and<br />

age, have complete data transparency<br />

in regards to company data, especially<br />

throughout Europe and the USA, there is<br />

still a major challenge in other areas of<br />

the world. For example, the Middle East<br />

and Africa, where companies have no<br />

obligation to file financial statements,<br />

this could weaken the reliability of AI<br />

credit analysis. Financial data is one of<br />

the main factors of credit scoring and<br />

generating a reliable scorecard. The<br />

Middle East in many jurisdictions still has<br />

a culture of privacy in terms of company<br />

financial data, which puts great strain on<br />

AI algorithmic calculations. So how can<br />

you overcome this barrier?<br />

Some companies have, through several<br />

years of human analysis and research<br />

found a way to assess creditworthiness via<br />

alternative factors. By creating a flexible<br />

scorecard that can consider a range<br />

of other factors, AI technology is still<br />

deemed reliable, if not more reliable, due<br />

to its flexible capacity. When financial<br />

data is absent, alternative factors prove to<br />

be pivotal to create a final scorecard.<br />


FACTORS?<br />

A common misconception for data<br />

analysis when assessing creditworthiness<br />

is that financial data is the most important<br />

contributor and that the assessment<br />

cannot be reliably carried out without it.<br />

However, if you have experience within<br />

the Middle East or North Africa (MENA)<br />

region, you would know that successful<br />

AI assessments on creditworthiness can<br />

be performed without relying on financial<br />

data. For example, some companies may<br />

have enough turnover and net profit to be<br />

considered large companies, but, carry<br />

a bad payment behaviour trend. This<br />

has been evident in several countries<br />

including some very high profile recent<br />

cases in the UK recently.<br />

Collecting payment behaviour and<br />

reviews on businesses with their own<br />

suppliers can provide a robust and<br />

concrete basis on which to partially build<br />

your assessment but companies need to<br />

have a multitude of factors in place in<br />

order to be deemed creditworthy. AI is<br />

at its most useful when all of these risk<br />

factors are taken into account.<br />


AI transforms the process of analysing<br />

the value of creditworthiness, providing a<br />

more reliable and concrete assessment of<br />

weighted factors. The operational benefits<br />

that come with credit analysis have<br />

proven to be a success on a global scale.<br />

The pinpoint accuracy and objectivity of<br />

AI will always prove to be more reliable<br />

than human intervention for credit<br />

analysis. However, what is vital is that,<br />

where human intervention is necessary,<br />

collecting data from reliable and official<br />

sources has to be relevant. The data<br />

sources you use cannot be outdated or<br />

incoherent; otherwise, no matter the AI or<br />

human intervention, your credit analysis<br />

will be unreliable and inconsistent. AI is<br />

most reliable when human intervention<br />

works alongside, and using the best<br />

features of both models will deliver the<br />

most optimal outcome.<br />

Angelique Assaf is a Data Strategist<br />

for Cedar Rose.<br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 31


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The Award has partly been launched<br />

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The course is aimed at team leaders<br />

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of a business that are required to have a<br />

better knowledge of Taking Control of Goods<br />

legislation, rather than more simple council<br />

tax or parking fine arrears from individuals.<br />

“This course demonstrates our commitment<br />

as an industry to try and raise the standards<br />

of enforcement across the board,” says<br />

Andrew Wilson, Chairman of the High Court<br />

Enforcement Officers Association. “Having<br />

Level 3 will make Agents more employable<br />

as a sub-contractor and also in their future<br />

careers.”<br />

Enforcement Agents who would like to<br />

become authorised High Court Enforcement<br />

Officers can use the Level 3 Award as the<br />

starting point for the Level 4 High Court<br />

Enforcement Diploma, which is part of the<br />

requirement for authorisation.<br />

The Level 3 Course builds on the Level 2<br />

Award in Taking Control of Goods, which<br />

is the basic regulatory requirement for<br />

Enforcement Agents and includes pre-course<br />

activities, ten modules covering all syllabus<br />

areas, assignment writing advice, a resources<br />

section and course completion certificate<br />

for learners who complete key activities<br />

and course evaluation. Learners looking to<br />

gain the regulated award can submit their<br />

assignment to the CI<strong>CM</strong> Awarding Body in<br />

January, June or October for independent<br />

marking.<br />

The new Award has also been endorsed by<br />

the Local Authority Civil Enforcement Forum<br />

(LACEF) and the Certified Enforcement<br />

Agents Association (CEAA).<br />

The valuable, high quality award is<br />

regulated by the qualification regulators<br />

for England, Wales and Northern Ireland.<br />

Progression routes include the CI<strong>CM</strong> Level 3<br />

Diploma in Credit and Collections, Advanced<br />

Credit Controller/Debt Collection Specialist<br />

Apprenticeship and CI<strong>CM</strong> Level 4 Diploma in<br />

High Court Enforcement.<br />

“This course demonstrates our<br />

commitment as an industry to try and<br />

raise the standards of enforcement<br />

across the board”<br />

Andrew Wilson, Chairman of the High Court Enforcement Officers Association.<br />

Course modules<br />

• Taking Control of Goods<br />

• Powers and obligations of enforcement agents<br />

• Risk management<br />

• Legal, regulatory, and industry frameworks<br />

• Prescribed form completion<br />

• Customer care<br />

• Vulnerable customers<br />

• Conflict management<br />

• Personal effectiveness<br />

• Reflective practice<br />

The course takes approximately 100 hours to complete and<br />

could form part of a face-to-face training programme<br />

Fees apply: £325 for a 12-month licence for elearning course<br />

(£200 for HCEOA members)<br />

£350 for a 12-month licence for elearning and support coach<br />

(£250 for HCEOA members)<br />

The standard CI<strong>CM</strong> registration and assignment<br />

assessment fees for the regulated award apply.<br />

Email: learningsupport@cicm.com<br />

or call 01780 722909 for further details<br />

or to purchase the course.

www.cicm.com<br />

‘‘<br />

If you are serious<br />

in furthering your<br />

career in credit<br />

management,<br />

being a member<br />

is essential<br />

Andrew Barbaro<br />

FCI<strong>CM</strong><br />

The value<br />

of CI<strong>CM</strong><br />

membership<br />

Andrew Barbaro FCI<strong>CM</strong><br />

Director of Customer Financial Services MEA<br />

Emerson Automation Solutions is a Fellow of<br />

the CI<strong>CM</strong>.<br />

Read more about his story and join your<br />

credit community by visiting:<br />

www.cicm.com/value-of-cicm-membership/<br />

info@cicm.com<br />

www.cicm.com<br />

01780 722900


Ethiopia is<br />

challenged by State<br />

interference<br />


Ethiopia: Part two<br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 34


AUTHOR – Adam Bernstein<br />

The state is heavily engaged in<br />

the economy with infrastructure<br />

projects involving power<br />

production and distribution,<br />

roads, rail, dams, airports and<br />

industrial parks.<br />

ETHIOPIA faces a number of challenges<br />

not least of which is sustaining positive<br />

economic growth and accelerating poverty<br />

reduction. Both require investment in job<br />

creation as well as improved governance.<br />

But challenges exist in terms of<br />

limited competition which isn’t helping manufacturing;<br />

the creation of jobs and the increase of exports; an<br />

underdeveloped private sector; and political disruption.<br />

The state is heavily engaged in the economy with<br />

infrastructure projects involving power production and<br />

distribution, roads, rail, dams, airports and industrial<br />

parks. There are a number of sectors that involve<br />

state-owned organisations in telecoms, banking and<br />

insurance, and power distribution. But one issue<br />

affecting development is that, according to Forbes and<br />

the CIA’s Factbook, under Ethiopia’s constitution, the<br />

state owns all land and provides long-term leases to<br />

tenants – land cannot be bought or sold. Any title rights<br />

that exist in urban areas, particularly Addis Ababa, are<br />

poorly regulated, and subject to corruption.<br />

The agricultural sector has historically been the<br />

engine of the Ethiopian economy, but it has recently<br />

given way to the service sector. The National Bank of<br />

Ethiopia notes agriculture, industry and services have<br />

contributed 36 percent, 25.6 percent and 39.3 percent to<br />

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

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

agricultural sector’s share of GDP shrank by more than 25<br />

percent between 2005 and 2016, while the service sector’s<br />

share grew by 27 percent during the same period. The<br />

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

manufacturing has risen in importance. Service sector<br />

growth is mainly driven by expansion in communication<br />

and transport services, hotel and restaurant businesses,<br />

as well as wholesale and retail trading.<br />

Commodities are important to Ethiopia. Coffee<br />

remains the largest foreign exchange earner, but Ethiopia<br />

is diversifying exports so that commodities such as gold,<br />

sesame, khat, livestock and horticulture products are<br />

becoming increasingly important. While manufacturing<br />

represented less than eight percent of total exports in<br />

2016, this is expected to increase because of a growing<br />

international presence.<br />

Ethiopia attracted $3.7 billion foreign direct<br />

investment in the last financial year according to the<br />

Ethiopian Investment Commission.<br />

To support industrialisation in sectors where Ethiopia<br />

has a comparative advantage, such as textiles and<br />

garments, leather goods, and processed agricultural<br />

products, the country plans to increase installed power<br />

generation capacity by 8320 MW, up from a capacity of<br />

2000 MW, by building three major dams and expanding<br />

use of other sources of renewable energy.<br />

It’s worth noting that Ethiopia has its own calendar<br />

year which features 13 months, 12 months with 30 days<br />

each and one month of five or six days depending on<br />

whether the year is a leap year or not. The Ethiopian<br />

calendar year begins on 11 September, which is the<br />

Ethiopian New Year. The government fiscal year starts<br />

on 8 <strong>July</strong>. Firms should consider this when organising<br />

visits to Ethiopia and when approaching the government<br />

to finance goods and services to ensure funding and<br />

appropriate approvals.<br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 35


Downward spiral<br />

The latest monthly business-to-business<br />

payment performance statistics.<br />

AUTHOR – Jason Braidwood FCI<strong>CM</strong>(Grad)<br />

FOLLOWING the previous month’s<br />

topsy turvy payment performance<br />

statistics that showed a few signs of<br />

improvements, but also a number<br />

of regions and sectors moving<br />

in the wrong direction, payment<br />

performance since builds on that doom and gloom<br />

with a number of concerning performances, and<br />

very little to be positive about. The average Days<br />

Beyond Terms (DBT) figures across regions and<br />

sectors increased by 4.5 and 3.6 days respectively.<br />


On the whole, it has been a dreadful month for<br />

the majority of sectors. But there are a least a few,<br />

four of the 22 sectors to be exact, that have made<br />

positive strides and deserve to be highlighted. The<br />

biggest improvement came from Energy Supply,<br />

reducing DBT by 4.9 days and now the third best<br />

performing sector. Above them in the table in<br />

second is Construction, with a reduction of 3.0<br />

taking its overall DBT to 11.0 days. Transportation<br />

and Storage (-4.6 days) and Water & Waste (-0.8<br />

days) also moved in the right direction.<br />

At the other end of the spectrum, it has<br />

been a woeful month for International Bodies,<br />

increasing its payment terms by a massive 8.2<br />

days. Entertainment (+7.1 days), Financial and<br />

Insurance (+6.8 days), Real Estate, Education and<br />

Health and Social (all +6.3 days) all struggled. A<br />

further increase of 5.5 days means that Business<br />

from Home is now the worst performing sector<br />

with an overall DBT of 24.4 days.<br />


Similarly, the regional standings do not make<br />

for pleasant reading, with all of the 11 regions<br />

increasing their payment terms. A further increase<br />

of a huge 6.4 days takes Northern Ireland’s overall<br />

DBT to 24.2 days, maintaining its position as the<br />

worst performing region, by a growing distance.<br />

West Midlands time as best performing region<br />

was disappointingly short-lived after an increase<br />

of 6.0 days to its payment terms. South East, East<br />

Anglia and South West also performed poorly with<br />

increases to 5.7 days, 5.5 days and 4.9 days DBT<br />

respectively.<br />

Yorkshire and Humberside achieved the<br />

lowest increase (+2.3 days) making it the new best<br />

performing region, but it is no great cause for<br />

celebration, it has been a disappointing month for<br />

all regions.<br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 36


Top Five Prompter Payers<br />

Sector May 19 Change from April 19<br />

Public Administration 10.1 4.7<br />

Construction 11.0 -3.0<br />

Energy Supply 11.2 -4.9<br />

Transportation and Storage 13.8 -4.6<br />

Agriculture Forestry and Fishing 14.1 5.4<br />

Getting Better<br />

-4.9 Energy Supply<br />

-4.6 Transportation and Storage<br />

-3.0 Construction<br />

-0.8 Water and Waste<br />

Bottom Five Poorest Payers<br />

Sector May 19 Change from April 19<br />

Business from Home 24.4 5.5<br />

Mining and Quarrying 22.6 0.0<br />

Business Admin and Support 21.6 3.8<br />

IT and Comms 21.2 6.0<br />

Real Estate 19.8 6.3<br />

Getting Worse<br />

3.6 Wholesale and retail trade<br />

3.8 Business Admin and Support<br />

4.7 Public Administration<br />

5.2 Professional and Scientific<br />

5.3 Hospitality<br />

Top Five Prompter Payers<br />

Region May 19 Change from April 19<br />

Yorkshire and Humberside 14.1 2.3<br />

North West 15.8 2.3<br />

East Midlands 17.1 3.6<br />

Scotland 17.2 4.4<br />

Wales 7.6 4.4<br />

Bottom Five Poorest Payers<br />

Region May 19 Change from April 19<br />

Northern Ireland 24.2 6.4<br />

South East 19.3 5.7<br />

East Anglia 19.3 5.5<br />

London 18.8 3.8<br />

West Midlands 18.5 6.0<br />

Region<br />

Getting Better – Getting Worse<br />

2.3 Yorkshire and Humberside<br />

2.3 North West<br />

3.6 East Midlands<br />

3.8 London<br />

4.4 Wales<br />

4.4 Scotland<br />

4.9 South West<br />

5.5 East Anglia<br />

5.7 South East<br />

6.4 Northern Ireland<br />



6.4 DBT<br />

WALES<br />

4.4 DBT<br />


4.4 DBT<br />

NORTH<br />

WEST<br />

2.3 DBT<br />



2.3 DBT<br />

EAST<br />


3.6 DBT<br />

EAST<br />

ANGLIA<br />

5.5 DBT<br />

On the whole, it has been a dreadful<br />

month for the majority of sectors. But<br />

there are a least a few, four of the 22<br />

sectors to be exact, that have made<br />

positive strides and deserve to be<br />

highlighted.<br />

SOUTH<br />

WEST<br />

4.9 DBT<br />

LONDON<br />

3.8 DBT<br />

SOUTH<br />

EAST<br />

5.7 DBT<br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 37

80 YEARS OF THE CI<strong>CM</strong><br />


This year marks the 80th anniversary of the Chartered Institute of<br />

Credit Management (CI<strong>CM</strong>). In this issue we look at the development<br />

of the Education department.<br />

First Education Committee 1947<br />

Chairs have included John Patrick, Glen Bullivant,<br />

John Brown and Philip King<br />

Qualifications 1949<br />

The Institute awards the first qualifications in<br />

credit management<br />

First Education Conference 1949<br />

Relaunched in <strong>2019</strong> as – The Learning Conference<br />

Examination Board created 2000<br />

Examination Board created to oversee CI<strong>CM</strong><br />

qualification awards, chaired by Philip King until<br />

April 2004 when Jane Abramson took over.<br />

Government qualification 2001<br />

The Institute first recognised by government<br />

qualification regulators of England, Wales and<br />

Northern Ireland and CI<strong>CM</strong> qualifications accredited<br />

to the National Qualifications Framework (NQF)<br />

(NOS) 2002<br />

Development of first National Occupational<br />

Standards (NOS) in Credit Management<br />

Sir Roger Cork prize 2003<br />

Sir Roger Cork prize created. An annual award to the<br />

best student to commemorate Sir Roger Cork, former<br />

Chair of Council and President of the Institute<br />

CI<strong>CM</strong> qualifications 2005<br />

Over 900 learners studying for<br />

CI<strong>CM</strong> qualifications in 26 colleges<br />

Support Service 2007<br />

Learning Support Service created to provide email<br />

and telephone support for learners studying<br />

increasingly independently<br />

Credit-based qualification 2008<br />

First assignments delivered for new credit-based<br />

qualification to test credit management practice<br />

Online exams 2009<br />

First online exams introduced for credit<br />

management, business law and business<br />

environment<br />


Assessment Board 2010<br />

Examination Board changed to Assessment Board<br />

to reflect the wider range of assessment methods<br />

including assignments<br />

Collaboration 2010<br />

Introduction of qualifications in money and debt<br />

advice and debt collection, working alongside<br />

StepChange Debt Charity<br />

Virtual classes 2011<br />

CI<strong>CM</strong> launches virtual classes delivering three<br />

month qualification classes to more than 66<br />

learners in first year<br />

HCEOA partnership 2012<br />

CI<strong>CM</strong> partners with High Court Enforcement<br />

Officers Association (HCEOA) to launch<br />

qualifications<br />

Taking control 2014<br />

CI<strong>CM</strong> launches Level 2 Award in Taking Control<br />

of Goods partnering with HCEOA<br />

Apprenticeships 2015<br />

First learners achieve apprenticeships and more<br />

than 150 now working through the programme<br />

Specialist Standard 2016<br />

Level 3 Advanced Credit Controller/Debt Collection<br />

Specialist Standard approved with the support of<br />

CI<strong>CM</strong> and the Credit Services Association (CSA)<br />

Accredited 2017<br />

Skills Funding Agency accredit CI<strong>CM</strong> as an End<br />

Point Assessment Organisation for Level 2 and 3<br />

Credit Controller/Collector Apprenticeships<br />

CI<strong>CM</strong> Mentor Hub 2018<br />

CI<strong>CM</strong> Mentor Hub is launched and matches<br />

suitable mentors and mentees bringing personal<br />

and professional benefits<br />

Vulnerability Framework 2018<br />

The launch of the CI<strong>CM</strong> Vulnerability Framework<br />

which provides a cross-sector view and links a<br />

wide range of advice, best practice case studies and<br />

guidance<br />

Combined qualifications <strong>2019</strong><br />

New qualifications in Credit and Collections<br />

launched combining CI<strong>CM</strong> credit management and<br />

debt collections<br />

YEARS<br />

1939 - <strong>2019</strong><br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 38

Are you making the most of<br />

CI<strong>CM</strong> and your membership?<br />

.<br />

ó<br />

Qualifications<br />

Business news<br />

and industry<br />

updates<br />

Credit<br />

Management<br />

magazine<br />

Webinars<br />

!<br />

,<br />

M<br />

$<br />

Advice line<br />

Apprenticeships<br />

Mentor<br />

service<br />

Case<br />

studies<br />

-<br />

B<br />

Tailored<br />

training<br />

elearning<br />

CI<strong>CM</strong>Q<br />

Knowledge<br />

Hub<br />

K<br />

P<br />

s<br />

Benevolent<br />

fund<br />

Local<br />

events<br />

Workshops<br />

Thought<br />

leadership<br />

What is the CI<strong>CM</strong>? For you; For your team; For business<br />

The CI<strong>CM</strong> is the largest recognised professional body in the world for the credit community. When<br />

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

We have been promoting the importance of credit management, influencing government policy and<br />

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

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

info@cicm.com<br />

www.cicm.com<br />

01780 722900

REVIEW<br />

Technically speaking<br />

Credit Management asked members of the CI<strong>CM</strong><br />

Think Tank what tech they can’t do without and why.<br />

Stuart Knock MCI<strong>CM</strong>,<br />

EOS Solutions<br />

WHEN I think of the piece of<br />

technology that we just couldn’t do<br />

without and that also had one of<br />

the biggest positive impacts to this<br />

business when it came on stream, it<br />

has to be our field services application,<br />

Dator.<br />

This proprietary app sits on a<br />

smartphone or tablet and allows us<br />

to communicate in real-time with our<br />

field agents. It’s secure, reliable and<br />

very adaptable. One of the biggest<br />

benefits that we generated when it<br />

went live was that we no longer had to<br />

hand over our agent’s mobile number<br />

when connecting a customer to the call<br />

centre – we just enter the customer’s<br />

confirmed number and the call centre<br />

(ours or our client’s) dials them.<br />

Productivity and security were<br />

improved at a stroke and the customer<br />

benefits from being able to take a call<br />

without our agent having to remain<br />

with them, which de-stresses the<br />

situation.<br />

Jo Kettner,<br />

Company Watch<br />

THE one system that the Company<br />

Watch team consistently uses is<br />

the web-based software Slack.<br />

It’s a powerful tool that makes<br />

communication within our team<br />

fast and easy. Whether it is project<br />

discussions, important documents<br />

or office cake announcements; they<br />

all live together in Slack. Having our<br />

team and information in one easily<br />

searchable place means collaborating<br />

online is as easy as collaborating in<br />

person.<br />

Team members join and leave Slack<br />

channels as and when they need to<br />

(different to lengthy email chains).<br />

There is also integrated file sharing;<br />

ideal as team members are in the office<br />

on different days or working overseas.<br />

By using Slack we ensure all the<br />

team are constantly in the loop and<br />

don’t miss important announcements<br />

and business queries. We think of it as<br />

our online office workspace. Without it,<br />

communication would be much slower<br />

and we like to be efficient at Company<br />

Watch!<br />

Dan Hancocks MCI<strong>CM</strong>,<br />

CoCredo<br />

ON a day-to-day basis the team here<br />

at CoCredo couldn’t live without our<br />

internal control panel – basically our<br />

version of a CRM system.<br />

It is a versatile piece of technology<br />

and not a standard out of the box<br />

system. It has been built by our own<br />

talented technical team and holds<br />

customer and business information<br />

that enables us to carry out our jobs.<br />

The benefit of it being an in-house<br />

system means that if we need<br />

additional features, the tech team can<br />

implement these easily.<br />

It is used daily by every member<br />

of the team ranging from sales to<br />

marketing to customer services and<br />

HR. Sales use it as a CRM system,<br />

marketing use it to update the<br />

website, for mailshots etc and HR<br />

use facilities such as the holiday<br />

planner. It enables us all to do our jobs<br />

efficiently with the information we<br />

need at our fingertips.<br />

Debbie Nolan FCI<strong>CM</strong>(Grad),<br />

Arvato<br />

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

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

one thing that we cannot run our business without, is our CRM database.<br />

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

details and that they are validated, up-to-date, reflect the most recent<br />

interactions and provide easily accessible historical transactions so that we<br />

can ensure the best customer journey at any stage of the collections cycle.<br />

It is essential that our system is flexible so that we can continually innovate<br />

the way in which we interact with our customers. Our system drives our daily<br />

activity and allow us to track process outcomes to construct analytics that<br />

help us drive continuous improvement.<br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 40

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 41



For further information and to discuss the opportunities of entering into a<br />

Corporate Partnership with the CI<strong>CM</strong>, please contact corporatepartners@cicm.com<br />

Hays Credit Management is a national specialist<br />

division dedicated exclusively to the recruitment of<br />

credit management and receivables professionals,<br />

at all levels, in the public and private sectors. As<br />

the CI<strong>CM</strong>’s only Premium Corporate Partner, we<br />

are best placed to help all clients’ and candidates’<br />

recruitment needs as well providing guidance on<br />

CV writing, career advice, salary bench-marking,<br />

marketing of vacancies, advertising and campaign<br />

led recruitment, competency-based interviewing,<br />

career and recruitment trends.<br />

T: 07834 260029<br />

E: karen.young@hays.com<br />

W: www.hays.co.uk/creditcontrol<br />

The Company Watch platform provides risk analysis<br />

and data modelling tools to organisations around<br />

the world that rely on our ability to accurately predict<br />

their exposure to financial risk. Our H-Score®<br />

predicted 92 percent of quoted company insolvencies<br />

and our TextScore® accuracy rate was 93<br />

percent. Our scores are trusted by credit professionals<br />

within banks, corporates, investment houses<br />

and public sector bodies because, unlike other credit<br />

reference agencies, we are transparent and flexible<br />

in our approach.<br />

T: +44 (0)20 7043 3300<br />

E: info@companywatch.net<br />

W: www.companywatch.net<br />

HighRadius is a Fintech enterprise Software-as-a-Service<br />

(SaaS) company. Its Integrated Receivables platform<br />

reduces cycle times in the Order to Cash process through<br />

automation of receivables and payments across credit,<br />

e-invoicing and payment processing, cash allocation,<br />

dispute resolution and collections. Powered by the RivanaTM<br />

Artificial Intelligence Engine and Freeda Digital<br />

Assistant for Order to Cash teams, HighRadius enables<br />

more than 450 organisations to leverage machine<br />

learning to predict future outcomes and automate routine<br />

labour intensive tasks.<br />

T: +44 7399 406889<br />

E: gwyn.roberts@highradius.com<br />

W: www.highradius.com<br />

Forums International has been running Credit and<br />

Industry Forums since 1991 covering a range of<br />

industry sectors and international trading. Attendance<br />

is for credit professionals of all levels. Our forums<br />

are not just meetings but communities which<br />

aim to prepare our members for the challenges<br />

ahead. Attending for the first time is free for you to<br />

gauge the benefits and meet the members and we<br />

only have pre-approved Partners, so you will never<br />

intentionally be sold to.<br />

Chris Sanders Consulting (Sanders Consulting<br />

Associates) has three areas of activity providing<br />

credit management leadership and performance<br />

improvement, international working capital<br />

improvement consulting assignments and<br />

managing the CI<strong>CM</strong>Q Best Practice Accreditation<br />

programme on behalf of the CI<strong>CM</strong>. Plans for<br />

<strong>2019</strong> include international client assignments in<br />

India, China, USA, Middle East and the ongoing<br />

development of the CI<strong>CM</strong>Q Programme.<br />

Key IVR provide a suite of products to assist companies<br />

across Europe with credit management. The<br />

service gives the end-user the means to make a<br />

payment when and how they choose. Key IVR also<br />

provides a state-of-the-art outbound platform delivering<br />

automated messages by voice and SMS. In a<br />

credit management environment, these services are<br />

used to cost-effectively contact debtors and connect<br />

them back into a contact centre or automated<br />

payment line.<br />

T: +44 (0)1246 555055<br />

E: info@forumsinternational.co.uk<br />

W: www.forumsinternational.co.uk<br />

T: +44(0)7747 761641<br />

E: chris@chrissandersconsulting.com<br />

W: www.chrissandersconsulting.com<br />

T: +44 (0) 1302 513 000<br />

E: sales@keyivr<br />

W: www.keyivr.co.uk<br />

American Express® is a globally recognised provider<br />

of business payment solutions, providing flexible<br />

capabilities to help companies drive growth. These<br />

solutions support buyers and suppliers across the<br />

supply chain with working capital and cashflow.<br />

By creating an additional lever to help support<br />

supplier/client relationships American Express is<br />

proud to be an innovator in the business payments<br />

space.<br />

T: +44 (0)1273 696933<br />

W: www.americanexpress.com<br />

Building on our mature and hugely successful<br />

product and world class support service, we are<br />

re-imagining our risk awareness module in <strong>2019</strong> to<br />

allow for hugely flexible automated worklists and<br />

advanced visibility of areas of risk. Alongside full<br />

integration with all credit scoring agencies (e.g.<br />

Creditsafe), this makes Credica a single port-of-call<br />

for analysis and automation. Impressive results<br />

and ROI are inevitable for our customers that also<br />

have an active input into our product development<br />

and evolution.<br />

T: 01235 856400<br />

E: info@credica.co.uk<br />

W: www.credica.co.uk<br />

Bottomline Technologies (NASDAQ: EPAY) helps<br />

businesses pay and get paid. Businesses and banks<br />

rely on Bottomline for domestic and international<br />

payments, effective cash management tools, automated<br />

workflows for payment processing and bill review<br />

and state of the art fraud detection, behavioural<br />

analytics and regulatory compliance. Every day, we<br />

help our customers by making complex business<br />

payments simple, secure and seamless.<br />

T: 0870 081 8250<br />

E: emea-info@bottomline.com<br />

W: www.bottomline.com/uk<br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 42

Each of our Corporate Partners is carefully selected for<br />

their commitment to the profession and best practice in the<br />

Credit Industry and the quality of services they provide.<br />

We are delighted to showcase them here.<br />


Onguard is a specialist in credit management<br />

software and a market leader in innovative solutions<br />

for Order to Cash. Our integrated platform ensures<br />

an optimal connection of all processes in the Order<br />

to Cash chain and allows sharing of critical data. Our<br />

intelligent tools can seamlessly interconnect and<br />

offer overview and control of the payment process,<br />

as well as contribute to a sustainable customer relationship.<br />

The Onguard platform is successfully used<br />

for successful credit management in more than 50<br />

countries.<br />

T: +31 (0)88 256 66 66<br />

E: ruurd.bakker@onguard.com<br />

W: www.onguard.com<br />

The Atradius Collections business model is to support<br />

businesses and their recoveries. We are seeing a<br />

deterioration and increase in unpaid invoices placing<br />

pressures on cashflow for those businesses. Brexit<br />

is causing uncertainty and we are seeing a significant<br />

impact on the UK economy with an increase in<br />

insolvencies, now also impacting the continent and<br />

spreading. Our geographical presence is expanding<br />

and with a single IT platform across the globe we can<br />

provide greater efficiencies and effectiveness to our<br />

clients to recover their unpaid invoices.<br />

T: +44 (0)2920 824700<br />

W: www.atradiuscollections.com/uk/<br />

With 130+ years of experience, Graydon is a leading<br />

provider of business information, analytics, insights<br />

and solutions. Graydon helps its customers to make<br />

fast, accurate decisions, enabling them to minimise<br />

risk and identify fraud as well as optimise opportunities<br />

with their commercial relationships. Graydon<br />

uses 130+ international databases and the information<br />

of 90+ million companies. Graydon has offices in<br />

London, Cardiff, Amsterdam and Antwerp. Since 2016,<br />

Graydon has been part of Atradius, one of the world’s<br />

largest credit insurance companies.<br />

T: +44 (0)208 515 1400<br />

E: customerservices@graydon.co.uk<br />

W: www.graydon.co.uk<br />

Rimilia provides intelligent, finance automation<br />

solutions that enable customers to get paid on time<br />

and control their cashflow and cash collection in<br />

real time. Rimilia’s software solutions use sophisticated<br />

analytics and artificial intelligence to predict<br />

customer payment behaviour and easily match and<br />

reconcile payments, removing the uncertainty of<br />

cash collection. Rimilia’s software automates the<br />

complete accounts receivable process improving<br />

cash allocation, bank reconciliation and credit management<br />

operations.<br />

T: +44 (0)1527 872123<br />

E: enquiries@rimilia.com<br />

W: www.rimilia.com<br />

Improve cash flow, cash collection and prevent late<br />

payment with Corrivo from Data Interconnect.<br />

Corrivo, intelligent invoice to cash automation<br />

highlights where accounts receivable teams should<br />

focus their effort for best results. Easy-to-learn,<br />

Invoicing, Collection and Dispute modules get collection<br />

teams up and running fast. Minimal IT input required.<br />

Real-time dashboards, reporting and self-service<br />

customer portals, improve customer communication<br />

and satisfaction scores. Cost-effective, flexible Corrivo,<br />

super-charges your cash collection effort.<br />

T: +44 (0)1367 245777<br />

E: sales@datainterconnect.co.uk<br />

W: www.datainterconnect.com<br />

Dun & Bradstreet Finance Solutions enable modern<br />

finance leaders and credit professionals to improve<br />

business performance through more effective risk<br />

management, identification of growth opportunities,<br />

and better integration of data and insights<br />

across the business. Powered by our Data Cloud,<br />

our solutions provide access to the world’s most<br />

comprehensive commercial data and insights<br />

supplying a continually updated view of business<br />

relationships that help finance and credit teams<br />

stay ahead of market shifts and customer changes.<br />

T: (0800) 001-234<br />

W: www.dnb.co.uk<br />

Shared Services Forum UK Limited<br />

Shared Services Forum UK is a not-for-profit<br />

membership organisation. with one vision, to form<br />

the largest community of people from the business<br />

world and facilitate a platform for them to work<br />

together to mutual benefits.<br />

Benefits include; networking with like-minded<br />

professionals in Shared Services. The criteria is a<br />

willingness to engage in our lively community and<br />

help shape our growth and development.<br />

T: 07864 652518<br />

E: forum.manager@sharedservicesforumuk.com<br />

W: www.sharedservicesforumuk.com<br />

C2FO turns receivables into cashflow and payables<br />

into income, uniquely connecting buyers and<br />

suppliers to allow discounts in exchange for<br />

early payment of approved invoices. Suppliers<br />

access additional liquidity sources by accelerating<br />

payments from buyers when required in just two<br />

clicks, at a rate that works for them. Buyers, often<br />

corporates with global supply chains, benefit from<br />

the C2FO solution by improving gross margin while<br />

strengthening the financial health of supply chains<br />

through ethical business practices.<br />

T: 07799 692193<br />

E: anna.donadelli@c2fo.com<br />

W: www.c2fo.com<br />

Tinubu Square is a trusted source of trade credit<br />

intelligence for credit insurers and for corporate<br />

customers. The company’s B2B Credit Risk<br />

Intelligence solutions include the Tinubu Risk<br />

Management Center, a cloud-based SaaS platform;<br />

the Tinubu Credit Intelligence service and the<br />

Tinubu Risk Analyst advisory service. Over 250<br />

companies rely on Tinubu Square to protect their<br />

greatest assets: customer receivables.<br />

T: +44 (0)207 469 2577 /<br />

E: uksales@tinubu.com<br />

W: www.tinubu.com.<br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 43




Shoosmiths’ highly experienced team will work<br />

closely with credit teams to recover commercial<br />

debts as quickly and cost effectively as possible.<br />

We have an in depth knowledge of all areas of debt<br />

recovery, including:<br />

• Pre-litigation services to effect early recovery and<br />

keep costs down • Litigation service • Insolvency<br />

• Post-litigation services including enforcement<br />

As a client of Shoosmiths, you will find us quick to<br />

relate to your goals, and adept at advising you on the<br />

most effective way of achieving them.<br />

T: 03700 86 3000<br />

E: paula.swain@shoosmiths.co.uk<br />

W: www.shoosmiths.co.uk<br />

<strong>2019</strong> CI<strong>CM</strong><br />



Workshops<br />

Serrala optimizes the Universe of Payments for<br />

organisations seeking efficient cash visibility<br />

and secure financial processes. As an SAP<br />

Partner, Serrala supports over 3,500 companies<br />

worldwide. With more than 30 years of experience<br />

and thousands of successful customer projects,<br />

including solutions for the entire order-to-cash<br />

process, Serrala provides credit managers and<br />

receivables professionals with the solutions they<br />

need to successfully protect their business against<br />

credit risk exposure and bad debt loss.<br />

T: +44 118 207 0450<br />

E: contact@serrala.com<br />

W: www.serrala.com<br />

Round<br />

Table Events<br />

Webinars<br />

CI<strong>CM</strong> Best<br />

Practice Events<br />

Esker’s Accounts Receivable (AR) solution removes<br />

the all-too-common obstacles preventing today’s<br />

businesses from collecting receivables in a timely<br />

manner. From invoice delivery to cash application,<br />

Esker automates each step. Esker's automated AR<br />

system powered by TermSync helps companies<br />

modernise without replacing their core billing and<br />

collections processes. By simply automating what<br />

should be automated, customers get the post-sale<br />

experience they deserve and your team gets the<br />

tools they need.<br />

T: +44 (0)1332 548176<br />

E: sam.townsend@esker.co.uk<br />

W: www.esker.co.uk<br />

Just another great<br />

reason to be a member<br />

See full programme at<br />

www.cicm.com/events<br />

www.cicm.com | +44 (0)1780 722902<br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 44

CI<strong>CM</strong> TURNER LECTURE<br />

20:20 Vision<br />

The CI<strong>CM</strong> Turner Lecture is now celebrating<br />

its 20th anniversary.<br />

AUTHOR – Richard Seadon FCI<strong>CM</strong><br />

THE CI<strong>CM</strong> Turner Lecture,<br />

as we now know it, began in<br />

the year 2000 when Senior<br />

Master Robert Turner of the<br />

High Court kindly consented<br />

to attend the Law Society<br />

one evening in October after finishing at<br />

Court. The previous year I had attended a<br />

lecture by Senior Master Turner in London<br />

on the subject of the Woolf Reforms of 1998<br />

as arranged by our London branch. On<br />

reporting back to the CI<strong>CM</strong> committee at<br />

Kent, all thought what a grand idea it would<br />

be to have members of the Kent branch hear<br />

the same lecture.<br />

On approaching Master Turner, he was<br />

initially a little reluctant to come to Kent<br />

after a busy day in Court in London. On<br />

approaching him again with the idea that<br />

Kent members attended the Law Society in<br />

London he agreed, and so began an excellent<br />

relationship with him and some of his team<br />

at Court.<br />

Our first evening turned out to be not<br />

only a dismal evening weather wise but<br />

an evening when there was a train strike.<br />

However around 70 people attended despite<br />

the difficulties and enjoyed the event to such<br />

an extent that they requested a similar event<br />

the following year. Master (now professor)<br />

Turner so enjoyed the first occasion that<br />

he remained for about an hour afterward<br />

chatting to the delegates and finally<br />

approaching me to ask if it was alright for<br />

him to go! It was a humble trait of his I think<br />

we all came to admire over the years as our<br />

relationship with him went from strength<br />

to strength. In one of his talks he described<br />

himself (at the time the Queen’s Rembrancer)<br />

as the country’s most senior debt collector!<br />


Many of our members will recall that as<br />

time passed the lectures, with Master<br />

Turner’s agreement, became known as the<br />

CI<strong>CM</strong> Turner Lectures, most of which have<br />

been held at the Law Society. As many of<br />

you will also know, Master Turner became<br />

President of the CI<strong>CM</strong> serving as such until<br />

his 75th year. During his years of office, he<br />

was rarely missing from a council meeting<br />

and contributed greatly to bringing about<br />

effective changes in the governance of the<br />

institute. We owe him a debt of gratitude.<br />

Over the now 20 years this event will<br />

have run we have been greatly aided<br />

by T G Baynes Solicitors of Bexleyheath<br />

and Henderson Chambers of London<br />

who have not only generously sponsored<br />

some of our lectures but have also<br />

taken part in presenting them at no cost<br />

to us. Over these years there have been<br />

talks on the changes in the law, insolvency,<br />

cybercrime, data protection, managing<br />

the collection of accounts abroad,<br />

mock meetings of creditors and mock trials.<br />

This year’s event being the 20th will be a<br />

mock trial on a question of liability where the<br />

defendants allege that the person entering<br />

into the contract did not have the authority<br />

to do so. Our members say this is a common<br />

problem they face almost on a daily basis and<br />

naturally want to know where they stand.<br />

It is worth mentioning too that such has<br />

been the involvement of some members<br />

of the legal profession in the CI<strong>CM</strong> Turner<br />

lectures that some are now Fellows of our<br />

institute. These include John White, Chief<br />

Clerk, Nazeer Chowdhury Barrister-at-law<br />

and Toby Riley-Smith QC all of Henderson<br />

Chambers. Others also presenting have<br />

included Richard Mawrey QC and Peter<br />

Susman QC, and at T G Baynes Senior<br />

Partner Michael Clark has been one of the<br />

most prominent supporters of our event. We<br />

owe them all our thanks.<br />

This year’s event, by popular request, will<br />

take place at the Law Society, Chancery lane<br />

on Friday<br />

8 November commencing at 17:30 with<br />

a reception till 18:30 and finishing at 20:00<br />

after the “lecture” has finished. I hope as<br />

many of you as are able will book to come<br />

to what promises to be another entertaining<br />

and informative event.<br />

This year’s event<br />

being the 20th will<br />

be a mock trial<br />

on a question of<br />

liability where the<br />

defendants allege<br />

that the person<br />

entering into the<br />

contract did not<br />

have the authority<br />

to do so.<br />

● THE CI<strong>CM</strong> TURNER LECTURE 20TH ANNIVERSARY20<br />

YEARS<br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 45




CI<strong>CM</strong> Trainer Pam Thomas FCI<strong>CM</strong>, outlines her views on<br />

credit and collections in today’s business environment.<br />

TECHNOLOGY has changed<br />

the way we work and deal<br />

with everyday tasks but<br />

credit management is one<br />

of the few industries where<br />

direct contact with both<br />

internal and external customers can mean<br />

the difference between success or failure<br />

to collect hard earned sales revenue.<br />

Education and upskilling staff is vital<br />

for organisations to keep ahead of the<br />

competition and in my role as a training<br />

and development specialist I design and<br />

deliver training courses to a range of<br />

different industry sectors, shared service<br />

centres and global organisations to assist<br />

in developing their teams to achieve their<br />

goals.<br />

As credit professionals we work<br />

alongside stakeholders, especially the sales<br />

team, providing them with information<br />

that may impact business in a negative<br />

or positive way. This doesn’t happen by<br />

chance, our role in the credit management<br />

process requires us to build successful<br />

and productive relationships and to some<br />

extent, trust. Trust has to be earned and<br />

demonstrated although I recall being<br />

reminded daily by certain sales people<br />

‘don’t do anything to upset the customer’! So<br />

much for trust! I’m sure this will resonate<br />

with many of you reading this article.<br />

What have you noticed about<br />

successful Credit and Collection<br />

teams? Do they have anything in<br />

common?<br />

One constant theme, and most important<br />

in my view, is communication and the<br />

relationship with internal and external<br />

Recent training day with Getty Images<br />

Pam is a highly skilled Credit Management trainer with extensive experience delivering<br />

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

credit management experience covering all credit roles. Using her practical and pragmatic<br />

approach to delivering training she has a solid track record in helping businesses and<br />

individuals achieve results. She assisted in developing a BA honours degree at University of<br />

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

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

Management (FCI<strong>CM</strong>) and is a CI<strong>CM</strong>Q assessor.<br />

Pam Thomas FCI<strong>CM</strong><br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 46


customers. Developing credit teams to perform at the highest<br />

level requires motivation and promotion of ‘can do’ attitude.<br />

Training can really help this by encouraging the right behaviours<br />

expected to bring home the cash:<br />

• excellent communication skills to build relationships<br />

• working with sales to understand both business and customer<br />

issues – risk vs reward<br />

• being fair minded in their decision-making regarding escalation<br />

• communicating concerns regarding the customer’s ability<br />

to pay.<br />

Building relationships is essential in today’s<br />

professional world but can we train people to do this?<br />

One of the training courses I run for CI<strong>CM</strong> is ‘Psychology of<br />

Collection’ which concentrates on this very subject. As humans<br />

we are interested in what makes other people tick, not only in<br />

personal relationships but with our customers. It helps to learn<br />

a bit about yourself to improve communication, as well as being<br />

more aware of the impact your behaviour has upon others, in<br />

other words, developing emotional intelligence. During the<br />

training I use ‘personality type’ quizzes and both practical and<br />

fun exercises to demonstrate why people do the things they do –<br />

especially when it comes to money or sales revenue.<br />

What type of training is most regularly requested?<br />

No matter what country or sector I go to I am frequently asked<br />

to deliver Collection Training, but not just ‘off the shelf’ training.<br />

Every company is different – organisational structure, credit<br />

policy, competency levels, legislative requirements, cross-cultural<br />

consideration and working procedures; all have to be taken into<br />

account when designing an effective training programme.<br />

What do you mean by Collection Training?<br />

Very simply, developing skills to collect debts. This includes how<br />

to prioritise collections, how to turn around negative situations<br />

using positive language, increase the ability to deal with difficult<br />

debts, assertiveness and building confidence. Very often I’m<br />

requested to revitalise existing skills or to kick start collection<br />

campaigns, especially in relation to CI<strong>CM</strong>Q, the CI<strong>CM</strong> quality<br />

accreditation scheme and to remind teams to use the telephone<br />

more often.<br />

What communication method is better to collect money<br />

– email or telephone?<br />

There are pros and cons with both. We are all part of the ‘email<br />

culture’; it’s fast but we may not always get a fast response.<br />

Telephone collection plays a vital part in credit management as it<br />

builds the relationship, adding a more personal approach which<br />

can be better when dealing with complex matters that can only<br />

be resolved through conversation.<br />

Face-to-face training or virtual – which is better?<br />

This is an ongoing debate in the learning and development<br />

world. Face-to-face (F2F) training works better for some topics<br />

than others especially when developing soft skills that need to<br />

be practiced. Whereas virtual training (e-learning, webinars<br />

etc) is good for delivering information to a wider audience and<br />

consistent content. When it comes to credit and collections<br />

training, I deliver by both methods but most enjoyable is F2F.<br />

I can immediately see body language, answer any concerns,<br />

and I can facilitate hands-on learning, sharing of information,<br />

experience and most importantly get feedback as to how the<br />

skills will be used.<br />

CI<strong>CM</strong> CREDIT AND<br />



Advanced Telephone Collection Skills<br />

Collecting with Confidence<br />

Consumer Credit Collections<br />

Develop your Credit Control Skills<br />

Essential Telephone Collection Techniques<br />

General Money and Debt Advice<br />

Getting started in Credit Control and Collections<br />

Invoicing and Receipting<br />

Negotiating and Influencing<br />

Psychology of Collections<br />

Psychology of Telephone Collections<br />

Consumer Telephone Collections<br />

Tracing the Gone Away<br />

Consumer Telephone Collections and Negotiations<br />

Working with your Customers – how to conduct a<br />

customer visit<br />

Getting your Message Across – confident<br />

communications for credit and finance<br />

International Collection Skills<br />

Interpersonal Skills for Credit and Finance<br />

CI<strong>CM</strong> training programmes cover all levels and<br />

functions of credit management and collections<br />

including:<br />

Credit Control and Collections | Credit Risk | Litigation<br />

Financial | Export | Management | General Business<br />

Industry Specific<br />

Programmes can be tailored or bespoke to ensure they<br />

are relevant to current needs in support of business<br />

objectives.<br />

Expert trainers share their knowledge and<br />

experiences, tips, tools and techniques to help<br />

improve effectiveness of the team.<br />

• Delivery is designed to meet the needs of all sectors,<br />

trade or consumer, using current best practice tools<br />

and techniques.<br />

• Cost effective training to upskill, motivate and<br />

develop knowledge, skills and performance for a<br />

maximum of 15 delegates per day.<br />

• CPD hours are attributed to all training programmes.<br />

Contact Julie Dalton, In-company Training<br />

Adviser, to discuss your requirements.<br />

E: training@cicm.com, T: +44 (0)1780 722907.<br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 47



TESTS<br />

NEW<br />

Knowledge Hub<br />

Premium<br />

Content<br />

Check your knowledge of key credit management,<br />

collections and enforcement areas with these knowledge tests.<br />

PREPARE FOR A CI<strong>CM</strong> AWARD<br />

Equally valuable as a baseline test of your team’s knowledge on CI<strong>CM</strong> Knowledge Hub, these multiple<br />

choice questions support preparation towards CI<strong>CM</strong> Level 2 and 3 awards and credit controller/<br />

collections apprenticeships.<br />

Each test includes the opportunity to undertake a timed mock exam which provides invaluable<br />

practice in answering multiple choice exam questions. You can also work through the questions<br />

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

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

access a completion certificate which counts towards your CPD.<br />


• Credit Management (trade, export and consumer)<br />

• Consumer Collections NEW programme<br />

• Consumer Credit Management<br />

• Taking Control of Goods<br />

• Trade Credit Management<br />

• Export Credit Management<br />

• Business Environment<br />

• Business Law<br />

The knowledge test package can take up to three hours to complete,<br />

including the pre-reading, full mock exam, working through individual<br />

syllabus areas, course evaluation and CPD reflection.<br />

You have access to the Knowledge test package for one year. During this<br />

time you can complete the multiple choice questions for each syllabus area<br />

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

completed in one go, however, it can be accessed more than once.<br />

Course fees apply<br />

CI<strong>CM</strong> members £25 for 12 month licence *Non-members - £83<br />

A previous advert included in the April edition of Credit Management<br />

magazine incorrectly advertised that Knowledge Test questions<br />

were included as part of Credit Academy virtual and evening classes. This<br />

was an error and separate fees as above do apply.<br />

The Taking Control of Goods test is part of an online course sponsored by the<br />

High Court Enforcement Officers Association and is therefore offered free to<br />

CI<strong>CM</strong> members (Non-member fee - £50*).<br />

CPD<br />

3<br />

Email: learningsupport@cicm.com or<br />

call 01780 722909 to purchase course<br />

*Fees are subject to VAT<br />

The The Recognised Standard / / www.cicm.com / <strong>July</strong>/<strong>August</strong> / April <strong>2019</strong> <strong>2019</strong> / PAGE / PAGE 48 48

Tailored Summer<br />

offer<br />

and bespoke<br />

on CI<strong>CM</strong><br />

training for<br />

your training credit<br />

team<br />

10% discount<br />

booked and delivered<br />

by 31 <strong>August</strong> <strong>2019</strong>.<br />

Your specialism is<br />

our specialism<br />

At the CI<strong>CM</strong> we know that credit and collections is a unique profession, and your business<br />

calls for a training solution that is not ‘off-the-peg’.<br />

We take pride in delivering practical and effective learning to credit and collections teams.<br />

Our training is designed and tailored to your business needs and to deliver results.<br />

Your team will learn from our specialist trainers, who all have vast experience in the<br />

profession and will share their real experiences and successes.<br />

WWW.CI<strong>CM</strong>.COM<br />

Our specialist team will manage everything from<br />

start to finish. To find out more information contact –<br />

T: 01780 722907: E: training@cicm.com: W: www.cicm.com<br />

Tailored and bespoke training in...<br />

Developing Credit Strategy; Building Business; Managing Risk; Complying with Regulations; Improving<br />

Customer Relations; Collecting the Cash; Negotiating and Influencing; Psychology of Collections; Achieving<br />

Targets; Debt Recovery; Insolvency; Management Skills.<br />

The The Recognised Standard / / www.cicm.com / <strong>July</strong>/<strong>August</strong> / April <strong>2019</strong> <strong>2019</strong> / PAGE / PAGE 49 49



Using a deposit order to continue with a claim<br />

that has little prospect of success.<br />

STRIKING out a claim is a<br />

draconian step. Although<br />

each case will turn on its own<br />

facts, where claimants are<br />

unrepresented it may be more<br />

appropriate to apply for a<br />

deposit order. Mbuise v Cygnet Healthcare<br />

illustrates the risks.<br />

Mr Mbuisa, acting in person, brought<br />

a number of claims against his former<br />

employer (Cygnet Healthcare Ltd),<br />

claiming that he had been automatically<br />

unfairly dismissed for raising health<br />

and safety concerns. Mbuisa was also<br />

alleging a number of other complaints,<br />

including breach of contract, unauthorised<br />

deduction from wages, holiday pay,<br />

whistleblowing and race and disability<br />

discrimination. Mbuisa did not have<br />

Fowl play or acting in good faith?<br />

ANTUZIS v DJ Houghton Catching Services Ltd<br />

shows how the law applies personal liability<br />

for breaches of the claimants’ employment<br />

contracts. The claimants, mainly Lithuanian<br />

nationals, worked for DJ Houghton as chicken<br />

catchers in what were held as extremely<br />

exploitative conditions. The claimants alleged<br />

various breaches including failure to pay<br />

minimum wage and overtime, being charged<br />

unfair employment fees and accommodation<br />

fees as well as failure to pay holiday pay. The<br />

claimants also alleged that they were penalised<br />

when they raised complaints about these<br />

issues.<br />

The judge found the evidence against<br />

the company to be ‘overwhelming’ and the<br />

claimants were successful in relation to all<br />

of the alleged breaches of their employment<br />

contracts. The preliminary issue for the High<br />

Court was whether or not the corporate veil<br />

could be pierced, and the sole director and the<br />

company secretary could be personally liable.<br />

The High Court considered provisions<br />

Recent changes in employment standards<br />

INCREASE in financial penalties:<br />

employers who are found to be in breach<br />

of workers’ rights can now be made to pay<br />

up to £20,000 (increased from £5,000) as a<br />

penalty by employment tribunals. This will<br />

apply to breaches which occur after 6 April<br />

<strong>2019</strong>.<br />

AUTHOR – Gareth Edwards<br />

legal representation and his claims were<br />

‘poorly pleaded,’ leading to the need for<br />

two preliminary hearings during which<br />

the Employment Tribunal (ET) tried to<br />

clarify Mbuisa’s claims. At the second<br />

preliminary hearing, the ET considered<br />

whether certain aspects of the claim<br />

should be struck out and, after receiving<br />

further written statements from Mbuisa,<br />

proceeded to strike out the claim relating<br />

to health and safety.<br />

Mbuisa appealed the decision to strike<br />

out his claim and the Employment Appeal<br />

Tribunal (EAT) allowed the appeal. The<br />

EAT emphasised that although it was<br />

challenging for the ET to manage a case<br />

where the claims were not properly set<br />

out, the decision to strike out was not<br />

National Living Wage: On 1 April <strong>2019</strong>,<br />

the National Living Wage for adults aged<br />

25 or over increased to £8.21 per hour<br />

(previously £7.83).<br />

Itemised payslips: From 6 April <strong>2019</strong>,<br />

employers became required by law to<br />

give itemised payslips, to all workers (in<br />

the right approach. It said: ‘...it was a<br />

draconian step that robbed the claimant of<br />

the right to have his complaint determined<br />

on its merits’.<br />

Under relevant legislation, the<br />

Employment Tribunal can strike out a<br />

claim at any point during the proceedings<br />

if the claim is ‘scandalous, vexatious, or<br />

has no reasonable grounds of success.’<br />

Either party is able to make an application<br />

for strike out, or the ET can do this of<br />

their own initiative. Alternatively, under<br />

a deposit order the ET has the ability to<br />

order either party to pay a deposit of up<br />

to £1,000 as a condition of continuing a<br />

claim. The Judge will do this if they believe<br />

that the argument being pursued, or any<br />

part of it, has ‘little prospect of success.’<br />

within the Companies Act, particularly the<br />

duty for directors to act in good faith and in a<br />

way that promotes the success of the company<br />

and the duty to exercise reasonable care, skill<br />

and diligence.<br />

In deciding whether the directors had<br />

acted in line with those duties, the High Court<br />

considered that their actions had caused the<br />

demise of the company including the loss of its<br />

Gangmaster license and potentially irreparable<br />

damage to its reputation. The High Court held<br />

the directors personally liable based on the<br />

evidence that they both ‘‘actually realised’’ that<br />

their actions caused the company to breach its<br />

contractual obligations to the claimants.<br />

This case does not remove the protection<br />

afforded to directors that act in good faith,<br />

within the scope of their authority, and when<br />

genuinely and honestly endeavouring to act<br />

in the company’s best interests. A genuine<br />

mistake would be unlikely to lead to personal<br />

liability, even if that mistake causes the<br />

company to breach contractual obligations.<br />

addition to employees), which show what<br />

hours they have worked and if there are any<br />

variations in pay.<br />

Gareth Edwards is a partner in the<br />

employment team at Veale Wasbrough<br />

Vizards. gedwards@vwv.co.ukon.<br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 50

CI<strong>CM</strong> MEMBER<br />


Your CI<strong>CM</strong> lapel badge<br />

demonstrates your commitment to<br />

professionalism and best practice<br />



If you haven’t received your badge<br />

contact: cicmmembership@cicm.com<br />

CI<strong>CM</strong> KENT BRANCH<br />

WINE AND<br />

WISDOM<br />

Tuesday, 3 September <strong>2019</strong><br />

19:00 – 22:00<br />

IT’S that time of year again when we<br />

would like to invite you to our everpopular<br />

Wine & Wisdom Branch<br />

Event to be held on 3 September<br />

<strong>2019</strong>. This will be held at the same<br />

venue and in the same format as<br />

last year.<br />

This is where the Branch takes the<br />

opportunity to raise money for a<br />

local charity whilst, at the same<br />

time, teams have the chance to<br />

receive the coveted Kent Branch<br />

shield and lay claim to the bragging<br />

rights to call themselves the most<br />

knowledgeable credit team in Kent!<br />

The current holders of the shield<br />

are Codswallop, captained by one of<br />

the founding Kent Branch members,<br />

Venue<br />

The Assembly Rooms, 66 Preston<br />

Street, Faversham, Kent ME13 8PG<br />

who are perennial supporters of this<br />

event. Hopefully, they will be back to<br />

try and defend their title; however,<br />

can you round up some colleagues<br />

and friends to form a team capable<br />

of toppling them?<br />

There has always been great<br />

interest in this event, and tables are<br />

limited. Please book early to avoid<br />

disappointment.<br />

Cost: £60 for a table of 6 or £10 per<br />

person for those who wish to come<br />

along on the night and form a team.<br />

Price includes nibbles and two<br />

bottles of wine per table.<br />

A charity fundraiser – making<br />

generosity part of your growth<br />

strategy.<br />

Organiser<br />

For more information please visit the<br />

Kent branch page at www.cicm.com<br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 51


Question Time<br />

Asking the right questions will help you find the<br />

best credit professional for your business.<br />

AUTHOR – Karen Young<br />

Karen Young<br />

RECRUITING credit<br />

managers for small to<br />

medium-sized enterprises<br />

(SMEs) throws up<br />

different challenges<br />

to recruiting for larger<br />

organisations. A smaller workforce has<br />

the advantage of fostering a tight-knit<br />

culture with a collaborative mindset, but<br />

this can be disrupted if a new employee<br />

isn’t the right fit for the organisation. As<br />

such, it’s particularly important to make a<br />

well-informed hiring decision for a credit<br />

professional in an SME. Look out for these<br />

three traits to find a candidate who will be<br />

the right fit for your organisation.<br />


Compared to a larger organisation<br />

where staff and resources are aplenty,<br />

staff employed in an SME might find<br />

themselves working outside the direct<br />

remit of their role for the benefit of the<br />

organisation. Although the technical<br />

knowledge of a credit professional will<br />

keep much of their role within a financial<br />

remit, working in a small, collaborative<br />

culture will no doubt draw on their other<br />

transferable skills. For this reason, it is<br />

essential to hire professionals who are<br />

passionate about the business and who<br />

connect to its purpose. These individuals<br />

will more readily go the extra mile when<br />

the opportunity arises.<br />

When interviewing potential<br />

candidates, there are questions you<br />

can ask which will help determine<br />

their level of interest in your organisation.<br />

These might include asking what<br />

appeals to them about working in your<br />

company, what they think sets your<br />

organisation apart from others and why<br />

they think they would be a good fit.<br />

A genuinely interested candidate<br />

will come prepared for an interview<br />

with knowledge about your business<br />

and questions which extend beyond<br />

the financial implications of the role in<br />

question. They may also bring their own<br />

ideas to the table. Gesticulations, smiling<br />

and eye contact are also likely signals that<br />

the candidate is excited about what you<br />

do as a business. Having said this, don’t be<br />

put off if they are nervous or quiet at first<br />

– this can be a sign that they are serious<br />

about the opportunity. Put the candidate<br />

at ease and focus on uncovering their<br />

passion for your organisation.<br />


Due to a skills landscape which is<br />

constantly changing, upskilling workers<br />

is more important now than it has ever<br />

been. Continual learning is essential if<br />

workers and organisations want to keep<br />

up with the pace of change. While many<br />

larger companies have<br />

the budget to offer<br />

widespread training<br />

to their workforce,<br />

SMEs may not have<br />

access to the same<br />

level of resources, so<br />

a proactive approach<br />

to learning is hugely<br />

beneficial for any<br />

candidate applying<br />

to a credit role in a<br />

smaller organisation.<br />

To identify these<br />

candidates, ask<br />

questions like when<br />

and how did you last<br />

learn a new skill, what trends in your<br />

area of expertise interest you, and how<br />

do you keep your knowledge up-to-date?<br />

You could also open a discussion around<br />

the individual’s personal skills gaps and<br />

what your organisation can do to support<br />

upskilling in these areas.<br />

Although there are a huge number of<br />

accountancy and finance professionals<br />

(82 percent) who, according the Hays<br />

What Workers Want report 2018, said<br />

they would only consider applying to<br />

an organisation which invests in their<br />

personal development, employers need<br />

to do more to attract these candidates.<br />

Only a third (33 percent) of employers<br />

To appeal to credit<br />

professionals who<br />

will commit to<br />

their upskilling,<br />

employers in SMEs<br />

are encouraged<br />

to be transparent<br />

about training<br />

opportunities<br />

in this sector offer formal training<br />

programmes as part of their induction<br />

process, lower than the UK average of 42<br />

percent. To appeal to credit professionals<br />

who will commit to their upskilling,<br />

employers in SMEs are encouraged to be<br />

transparent about training opportunities<br />

early in the recruitment process, for<br />

example supporting CI<strong>CM</strong> training and<br />

professional qualifications.<br />


SMEs rely on employee commitment<br />

more than larger organisations, as the<br />

smaller the workforce, the greater the<br />

individual impact. As these organisations<br />

sometimes don’t tend to offer the same<br />

material rewards as a larger organisation,<br />

the right candidate for an SME will<br />

place greater importance in the purpose<br />

and value of the organisation, and their<br />

loyalty will stem from this.<br />

Loyalty can be difficult to assess until<br />

a candidate has been at the organisation<br />

for a while, but a<br />

hiring manager can<br />

ask questions such<br />

as what matters<br />

most in a new role,<br />

what motivates<br />

you to perform,<br />

and where do you<br />

see yourself in five<br />

years time? These<br />

questions ascertain<br />

how a candidate<br />

might view their<br />

progression in your<br />

business and how<br />

long they intend to<br />

stay.<br />

While the wrong hiring decision<br />

may be felt more heavily in an SME<br />

than in a larger organisation, hiring the<br />

right person will also create an impact.<br />

Consider asking the questions above and<br />

keep an eye out for these traits to find a<br />

credit professional who can slot into your<br />

business, contribute interesting ideas<br />

and ultimately help power your business<br />

forward.<br />

Karen Young is Director at Hays<br />

Credit Management.<br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 52



How to set up a great one click link to the CI<strong>CM</strong> website on<br />

your mobile phone. Follow these four simple steps...<br />

Step 1 Step 2 Step 3 Step 4<br />

Go to cicm.com > Click highlighted icon at bottom of screen > Click add to Home screen icon<br />

> Click add icon at top right of screen > CI<strong>CM</strong> icon will appear on your screen<br />

Step 1 Step 2 Step 3 Step 4<br />

Open cicm.com in Google Chrome browser > Tap Menu button > Tap add shortcut to Home screen<br />

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


T: +44 (0)1780 722900 | WWW.CI<strong>CM</strong>.COM<br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 53




Taking Control of Goods CPD package is the cost-effective way to remind yourself<br />

of enforcement law and best practice regardless of how you initially qualified.<br />

Access the definitive TCG Guidance, fully updated and<br />

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have kept up-to-date when you renew your certificate to act<br />

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The 60 multiple choice questions are also perfect if you are<br />

preparing for the TCG qualification required for your first<br />

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This is the definitive guide for CPD and to<br />

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Barrie Minney. Chair, Local Authority Civil Enforcement<br />

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City Council<br />

HCEOA are proud to have developed this Best Practice<br />

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Andrew Wilson. Chair, High Court Enforcement Officer Association & Solicitor<br />

With HCEOA, CEAA and LACEF input, this CPD package provides perfectly balanced guidance and the CI<strong>CM</strong><br />

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

James Bond. General Secretary, Civil Enforcement Agents Association<br />

High Court Enforcement<br />

Officers Association<br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 54<br />

LACEF<br />

The Local Authority<br />

Civil Enforcement Forum

www.cicm.com<br />

‘‘<br />

Since being a<br />

member I am kept<br />

updated on latest changes<br />

to laws and regulations,<br />

good governance and<br />

not forgetting the<br />

wealth of knowledge.<br />

Laural Jefferies, FCI<strong>CM</strong><br />

The value<br />

of CI<strong>CM</strong><br />

membership<br />

Laural Jefferies, FCI<strong>CM</strong><br />

Head of Accounts Receivable,<br />

Fashion Edge Ltd<br />

Read more about her story and join your<br />

credit community by visiting:<br />

www.cicm.com/value-of-cicm-membership/<br />

info@cicm.com<br />

www.cicm.com<br />

01780 722900


Do you know someone who would benefit from CI<strong>CM</strong> membership? Or have<br />

you considered applying to upgrade your membership? See our website<br />

www.cicm.com/membership-types for more detail, or call us on 01780 722903<br />

Studying Members<br />


Leana Albrighton<br />

Lauren Atkinson<br />

Hester Badenhorst<br />

Jacobus Bakker<br />

Vanessa Bedford<br />

David Bergin<br />

Guilherme Bissoli<br />

Charlotte Box<br />

Katherine Boyle<br />

Gemma Brace<br />

Paul Caputo<br />

Antonio Carella<br />

Lugan Chettiar<br />

Calum Chittenden<br />

Rachael Clark<br />

Thomas Clark<br />

Marc Cooper<br />

Virginia Cooper<br />

Jakub Czekiel<br />

Amelia Davies<br />

Manisha Devshi<br />

Maria Fernanda Diaz Santos<br />

Rachel Dillon<br />

Belinda Du Preez<br />

Michael Egginton<br />

Jonathan Fancourt<br />

Zsofia Gajdos<br />

Catherine Gidwaney<br />

Styliani Gketsiou<br />

Piers Gooding<br />

Emma Groves<br />

Leanne Hart<br />

Michelle Heighton<br />

Nicola Helliadis<br />

Diana Holmes<br />

Paula Hutten<br />

Jennifer James<br />

Tamryn Jonathan<br />

Donna Knecht<br />

Karina Krohn Shaw<br />

Julia Leketa<br />

Kayleigh Lilley<br />

Kevin Lloyd<br />

Patricia Mathebula<br />

James May<br />

Tasniem McClaren<br />

Lolo Sekgololo Mphahlele<br />

Thato Mphuti<br />

Nicola Oldroyd<br />

Abena Osafo<br />

Anthony Owen<br />

Farid Patel<br />

Samir Patel<br />

Jayne Pollitt<br />

Richard Price<br />

Benita Prinsloo<br />

Prudence Radebe<br />

Anastasia Roppa<br />

Anastasia Ruthmene<br />

Danielle Saville<br />

Brian Silcock<br />

June Smith<br />

Antoinette Snyman<br />

Marina Sulik<br />

Nikola Swift<br />

Laura Tait<br />

Victorine Tchokouleu Kammani<br />

Kristian Tyson<br />

Louise Vickers<br />

Sara Vydya<br />

Tomasz Waberski<br />

Tegan Walker<br />

Kathryn Wegrzyn<br />

Kathy Williams<br />

Joseph Williams<br />

Laura Winward<br />

Daniel Young<br />

Member by exam<br />

Donatella Santin MCI<strong>CM</strong>(Grad)<br />

Affiliate<br />

Katie Adams<br />

Simon Bell<br />

Debbie Bick<br />

Emma-Jayne Carruthers<br />

David Cooke<br />

Kelly Evans<br />

Martin Hughes<br />

Don Kilmartin<br />

Michelle Machin<br />

Laura Millington<br />

David Payne<br />

Jessica Raymond<br />

Alexandra Redfern<br />

Jackie Reid<br />

Virginija Tesarcik<br />

Jennifer Whitten<br />

Associate<br />

Syed Aunn Abbas ACI<strong>CM</strong><br />

Alan Cooper ACI<strong>CM</strong><br />

Vera Osuji ACI<strong>CM</strong><br />

Michael Oughton ACI<strong>CM</strong><br />

Mohamed Shimah Abudhullah ACI<strong>CM</strong><br />

Member<br />

Katherine Chandler MCI<strong>CM</strong> Abdalla Mohamed Ali MCI<strong>CM</strong> Alan Norton MCI<strong>CM</strong> Janelle Taborro MCI<strong>CM</strong><br />

Fellow<br />

Matthew Subert FCI<strong>CM</strong><br />

Nicholas Tiltman FCI<strong>CM</strong><br />

Congratulations to our current members who have upgraded their membership<br />

Upgraded members<br />

Amir Ali FCI<strong>CM</strong><br />

Christopher Billington FCI<strong>CM</strong><br />

Lynette Fegan FCI<strong>CM</strong><br />

Laural Jefferies FCI<strong>CM</strong><br />

David Russell MCI<strong>CM</strong><br />

Nandor Gyetvai ACI<strong>CM</strong><br />

International Credit Manager at Harley-Davidson Motor Company<br />

Imelda Kervin MCI<strong>CM</strong><br />

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

who are involved with the Institute. Not only does it show a level of<br />

understanding of credit but it also shows they have an interest in the<br />

industry and are passionate.”<br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 56

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CI<strong>CM</strong> FELLOWS' CELEBRATORY LUNCH<br />

In the 80th year of the CI<strong>CM</strong>, the Fellows' Lunch was held at the iconic<br />

Churchill War Rooms. More than 80 Fellows and guests gathered for lunch<br />

and to celebrate the Fellows’ of the future, and the two winners of the<br />

Meritorious Service Award Gary Baker FCI<strong>CM</strong>(Grad) and David Kerr FCI<strong>CM</strong>.<br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 58


Honesty is the best policy<br />

East of England Branch<br />

ON 16 May, it was very nearly standing<br />

room only for the East of England Branch<br />

as Branch Chairman Atul Vadher FCI<strong>CM</strong>,<br />

welcomed delegates from CI<strong>CM</strong> East of<br />

England and London Branches, and a<br />

number of non CI<strong>CM</strong> members to the<br />

branch’s inaugural breakfast event at Hays’ Chelmsford<br />

office. He introduced Branch Committee member Andrew<br />

Martin of hosts Hays.<br />

Branch Member Liam Hastings of Hastings & Co Solicitors,<br />

talked through some interesting fraud case studies that he<br />

had handled and he gave useful advice on what to look out<br />

for before granting credit, and how to use various sources<br />

of information, including Land Registry, Companies House<br />

and credit colleagues. Liam knew that all at the meeting<br />

were aware of the necessity of ensuring that the debtor had<br />

sufficient funds before taking legal action against them but<br />

said that some of his clients needed convincing of this. He<br />

gave some tips on how to establish the means of the debtor.<br />

Martin Eaves, Technical Director of Advanced Collection<br />

Systems, described the work ACS were undertaking with<br />

Hertfordshire University in using cognitive load verbal and<br />

non-verbal clues to detect lies in debt collection, both for<br />

real agents and for virtual agents. It was very possible to<br />

detect lies by listening carefully to the voice of the debtor,<br />

e.g. tonality changes, stuttering, hesitation, voice tremors,<br />

and the language used. AI was being developed for virtual<br />

agents which even picked up lies in text messages – an everincreasing<br />

means of communication with debtors.<br />

Both presentations were well received and led to detailed<br />

discussions around the table.<br />

The breakfast seminar feedback from everyone who<br />

attended was exceptionally positive about the content, the<br />

speakers and the venue, and the Branch would like to thank<br />

Hays for their generous hospitality, and our speakers Liam<br />

Hastings and Martin Eaves for generously giving up their<br />

time to be part of the Branch’s first breakfast meeting.<br />

Author: Richard Brown FCI<strong>CM</strong>, Vice Chairman<br />

Liam Hastings<br />

(Hastings & Co) speaker<br />

Martin Eaves<br />

(ACS) speaker<br />

Wet weather fails to dampen spirits<br />

West Midlands<br />

Branch<br />

THE West Midlands annual golf day in<br />

memory of Andrew Rippon was held on<br />

2 May at Bromsgrove. The day went well<br />

despite the weather turning a little wet.<br />

The winning team was Direct Legal<br />

Collections: Roger Lewis, Craig Povey<br />

and Paul Atkins (pictured), and the<br />

Best Individual Player was Paul Atkins<br />

(pictured).<br />

Dorian Franklin won the putting<br />

competition and Peter Cartwright was<br />

second by one point. Author: Susan Byrne<br />

Best Individual Player<br />

The winning team<br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 59

WHAT'S ON<br />

A full list of events can be found on our website<br />

We are inviting all members to bring a colleague to a CI<strong>CM</strong> membership event,<br />

free of charge. Book online on our website www.cicm.com/cicm-events<br />

CI<strong>CM</strong> EVENT<br />

6 <strong>July</strong><br />

CI<strong>CM</strong> Sheffield & District Branch<br />

Sheffield<br />

Grim Credit History Tour of Kelham Island. Join<br />

the Sheffield branch and find out about the<br />

Debtors Prison, the Workhouse and the Doss<br />

House with local historian and CAMRA member<br />

Brian Holmshaw.<br />

Book online at www.cicm.com/cicm-events or<br />

email events@cicm.com for more information.<br />

Venue: Shalesmoor Tram Stop, Hillsbrough<br />

Route-2 stops past university, Sheffield, S3 7EQ<br />

CI<strong>CM</strong> EVENT<br />

CI<strong>CM</strong> EVENT<br />

7 <strong>July</strong><br />

CI<strong>CM</strong> Kent Branch<br />


Summer Social, Barbecue and Rounders. It’s that<br />

time of year again when we hope the sun will<br />

shine again on our popular summer socials. We<br />

would like to invite you to our Branch Event to<br />

be held on Sunday 7 <strong>July</strong> <strong>2019</strong> at the fantastic<br />

setting of Sandy Acres Sport and Social Club.<br />

Book online at www.cicm.com/cicm-events or<br />

email events@cicm.com for more information.<br />

Venue: Sandy Acres Sports and Social Club<br />

Sandyhurst Lane, Ashford, TN25 4PE<br />

3 September<br />

CI<strong>CM</strong> Kent Branch<br />


Wine and Wisdom<br />

It’s that time of year again when we would like<br />

to invite you to our ever-popular ‘Wine & Wisdom’<br />

Branch Event to be held on 3 September <strong>2019</strong>.<br />

This will be held at the same venue and in the<br />

same format as last year.<br />

Book online at www.cicm.com/cicm-events or<br />

email events@cicm.com for more information.<br />

Venue: The Assembly Rooms, 66 Preston Street,<br />

Faversham, ME13 8PG<br />

CI<strong>CM</strong> EVENT<br />

9 <strong>July</strong><br />

CI<strong>CM</strong> Wessex Branch<br />


Litigation and High Court Update – 2CPD. The<br />

Wessex branch are excited to invite you to their<br />

‘Litigation and High Court Update’ event. Please<br />

see below the agenda for the morning.<br />

Members and non-members will be made most<br />

welcome at this FREE event.<br />

Book online at www.cicm.com/cicm-events or<br />

email events@cicm.com for more information.<br />

Venue: Solent Hotel, Rookery Avenue, Whiteley,<br />

Fareham PO15 7AJ United Kingdom<br />


CI<strong>CM</strong> EVENTS<br />

11 <strong>July</strong><br />

CI<strong>CM</strong> East Midlands Branch<br />


Galleries of Justice Ghost Tour.<br />

Members and guests are invited to our annual<br />

social event which this year is being held at<br />

the Galleries of Justice in Nottingham’s historic<br />

Lace Market. A tour of the haunted caves will be<br />

followed by a buffet in the museum.<br />

Book online at www.cicm.com/cicm-events or<br />

email events@cicm.com for more information.<br />

Venue: National Justice Museum<br />

High Pavement, Nottingham, NG1 1HN<br />

9 <strong>July</strong><br />

Forums International<br />


Credit Professionals Forum<br />

Book online at www.cicm.com/cicm-events or<br />

email events@cicm.com for more information.<br />

Venue: Coppid Beech Hotel<br />

John Nike Way, Bracknell, RG12 8TF<br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 60

More reasons to be a member<br />

Make connections and keep up-to-date<br />

with our exclusive events.<br />

10 <strong>July</strong><br />

Forums International<br />

LONDON<br />

SAP User Group<br />

Book online at www.cicm.com/cicm-events or<br />

email events@cicm.com for more information.<br />

Email cpf@forumsinternational.co.uk<br />

Venue: Moore Stephens, London<br />

10 <strong>July</strong><br />


LONDON<br />

Recruitment Credit Risk Forum (APSCo)<br />

Book online at www.cicm.com/cicm-events<br />

or email events@cicm.com for more<br />

information.<br />

Venue: London<br />

23 <strong>August</strong><br />


LONDON<br />

Construction<br />

Book online at www.cicm.com/cicm-events<br />

or email events@cicm.com for more<br />

information.<br />

Venue: London<br />

11 <strong>July</strong><br />

Credit Risk Forums<br />

LONDON<br />

Polymer Distributors & Compounders<br />

Book online at www.cicm.com/cicm-events<br />

or email events@cicm.com for more<br />

information.<br />

Venue: London<br />

16 <strong>July</strong><br />

Forums International<br />


Business & Office Supplies Credit Forum<br />

Book online at www.cicm.com/cicm-events<br />

or email events@cicm.com for more<br />

information.<br />

Venue: Moore Stephens 35 Calthorpe Rd, B15 1TS<br />

14 <strong>August</strong><br />


LONDON<br />

Fashion<br />

Book online at www.cicm.com/cicm-events<br />

or email events@cicm.com for more<br />

information.<br />

Venue: London<br />

18 <strong>July</strong><br />

Credit Risk Forums<br />


FMCG Credit Risk Forum (Food, drink, tobacco)<br />

Book online at www.cicm.com/cicm-events<br />

or email events@cicm.com for more<br />

information.<br />

Venue: Cheltenham<br />

23 <strong>July</strong><br />

Credit Risk Forums<br />


Home Enhancements & DIY Credit Risk<br />

Book online at www.cicm.com/cicm-events<br />

or email events@cicm.com for more<br />

information.<br />

Venue: Birmingham<br />

15 <strong>August</strong><br />


LONDON<br />

Cosmetics & Fragrances<br />

Book online at www.cicm.com/cicm-events<br />

or email events@cicm.com for more<br />

information.<br />

Venue: London<br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 61





London, up to £65,000<br />

Servicing over 5 million customers, a rare opportunity<br />

has arisen at a Fortune 100 business to lead its credit risk<br />

function. You will need extensive experience in dealing<br />

with credit risk analysis specifically with aviation clients.<br />

With a strong emphasis on risk management strategies<br />

and associated control structures, your responsibilities<br />

include maximising the profitability of collections,<br />

minimising exposure to risk and developing all systems.<br />

This is a fantastic opportunity where you can take the<br />

role in the direction you desire, achieve results and be<br />

rewarded accordingly.<br />

Ref: 3594208<br />

Contact Akshay Caussy on 0203 465 0020<br />

or email akshay.caussy@hays.com<br />



Newark, £28,000 + study + benefits<br />

A highly entrepreneurial service provider is looking<br />

for a commercially minded credit specialist to take<br />

responsibility for all aspects of credit, managing a team of<br />

four in sales and purchase ledger. You will focus on credit<br />

risk, managing customer credit limits, credit facilities,<br />

escalation issues and aged debt including non-UK<br />

customer accounts, daily bank reconciliations and sales<br />

credit notes. Ideally, you will have varied B2B exposure<br />

and strong communication and staff management skills.<br />

Previous people management experience is essential. This<br />

is a great opportunity to join a growing company and to<br />

widen your exposure to other ledgers and commercial<br />

areas of the business. Ref: 3134053<br />

Contact Lisa Francis on 01522 313300<br />

or email lisa.francis@hays.com<br />



West London, £24,000-£30,000<br />

An established global media entertainment company<br />

based in West London is looking for an experienced<br />

AR Specialist on a contract basis. In this varied role, you<br />

will be responsible for the end to end AR management<br />

of your own portfolio of circa 500 clients. Your duties<br />

will include raising invoices to strict deadlines (circa 70%<br />

of the role), proactively chasing due payments, issuing<br />

statements, posting and allocation of receipts, account<br />

reconciliation and ongoing review of credit limits. To be<br />

successful you will be available on short notice, excel in<br />

a fast-paced environment and ideally have SAP system<br />

experience. Ref: 3593774<br />

Contact Julia Foster on 0203 465 0020<br />

or email julia.foster2@hays.com<br />



Glasgow City Centre, c.£26,000<br />

A multinational organisation is looking for an experienced<br />

accounts receivable analyst on a temporary basis initially,<br />

however there will be an opportunity to apply on a<br />

permanent basis. Reporting into Senior Management,<br />

you will be responsible for generating sales invoices,<br />

reviewing and approving before processing, reconciling<br />

revenue calculations, reporting on revenue findings and<br />

maintaining data integrity and ensuring SOX procedures<br />

are followed. The hours of work are Monday to Friday,<br />

8am-5pm, and the organisation is easily accessible<br />

by public transport.<br />

Ref: 3606098<br />

Contact Lauren Hamilton on 0141 212 3665<br />

or email lauren.hamilton@hays.com<br />

hays.co.uk/creditcontrol<br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 62



North Lanarkshire, £23,000-£25,000 + benefits<br />

This industry-leading client is partnering with Hays<br />

exclusively to recruit a sole credit controller on a<br />

permanent basis. Reporting directly to the Financial<br />

Director, you will be responsible for the full credit<br />

function with tasks including, daily invoicing, dealing with<br />

remittances, month end procedures including sending<br />

statements, updating ledger daily, credit card reconciliation<br />

and dealing with cheques and refunds. Ideally, you will be a<br />

self-starter, experienced within these areas of credit control<br />

and have the ability to build rapport. The hours of work<br />

are Monday to Friday, 9am-5.30pm, and the organisation<br />

has onsite parking available. Ref: 3595669<br />

Contact Lauren Hamilton on 0141 212 3665<br />

or email lauren.hamilton@hays.com<br />



Kettering, £23,000<br />

A rapidly growing IT re-seller business is looking for a<br />

credit controller to join the accounts department. As well<br />

as covering the usual credit control requirements such as<br />

building relations with clients to obtain outstanding debt,<br />

the role will also involve liaising with suppliers to ensure<br />

any potential issues are dealt with, so the credit process<br />

can continue to run smoothly. This is a great opportunity<br />

to join an exciting business which has become a leader<br />

in its field and is looking to continue to grow.<br />

Ref: 3603359<br />

Contact Alex Smith on 01604 621733<br />

or email alex.smith@hays.com<br />



Solihull, £22,000-£24,000 + benefits<br />

A growing financial services company in the midlands,<br />

who specialise in offering bespoke packages to support<br />

growing organisations, are looking for a credit controller<br />

to join its team. This is an exciting time for the company<br />

as several new products are launching. The role is<br />

high volume and fast paced, so you must be driven to<br />

hit targets. In return, you will be offered training and<br />

development as well as study support for the CI<strong>CM</strong>.<br />

The Group Credit Manager is a CI<strong>CM</strong> Fellow Member<br />

who strives on bringing people through.<br />

Ref: 3522639<br />

Contact Peter Kidd on 0121 212 1814<br />

or email peter.kidd@hays.com<br />



Carlisle, up to £19,000 + bonuses<br />

This reputable, national company is looking for a part<br />

time credit controller to support its busy team. This is a<br />

temporary role with the potential to become permanent<br />

after three months. The role will have a strong emphasis on<br />

pursuing outstanding debts whilst developing professional<br />

relationships with clients of all sizes. You will be reliable,<br />

able to demonstrate excellent attention to detail, multitask<br />

and work to deadlines. This is a fantastic opportunity<br />

for an individual who has experience in developing and<br />

maintaining professional relationships with customers<br />

and suppliers. Ref: 3598875<br />

Contact Katie Higgins on 01228 515 795<br />

or email katie.higgins@hays.com<br />

This is just a small selection of the many<br />

opportunities we have available for credit<br />

professionals. To find out more email<br />

hayscicm@hays.com or visit us online.<br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 63

Cr£ditWho?<br />

CI<strong>CM</strong> Directory of Services<br />




Atradius Collections Ltd<br />

3 Harbour Drive,<br />

Capital Waterside,<br />

Cardiff Bay, Cardiff, CF10 4WZ<br />

United Kingdom<br />

T: +44 (0)2920 824700<br />

W: www.atradiuscollections.com/uk/<br />

Atradius Collections Ltd is an established specialist in business<br />

to business collections. As the collections division of the Atradius<br />

Crédito y Caución, we have a strong position sharing history,<br />

knowledge and reputation.<br />

Annually handling more than 110,000 cases and recovering over<br />

a billion EUROs in collections at any one time, we deliver when<br />

it comes to collecting outstanding debts. With over 90 years’<br />

experience, we have an in-depth understanding of the importance of<br />

maintaining customer relationships whilst efficiently and effectively<br />

collecting monies owed.<br />

The individual nature of our clients’ customer relationships is<br />

reflected in the customer focus we provide, structuring our service<br />

to meet your specific needs. We work closely with clients to provide<br />

them with a collection strategy that echoes their business character,<br />

trading patterns and budget.<br />

For further information contact: Hans Meijer, UK and Ireland Country<br />

Director (hans.meijer@atradius.com).<br />

Controlaccount Plc<br />

Compass House, Waterside, Hanbury Road, Bromsgrove,<br />

Worcestershire B60 4FD<br />

Telephone: 01527 549 522<br />

Email: sales@controlaccount.com<br />

Web: www.controlaccount.com<br />

Controlaccount Plc provides an efficient, effective and ethical<br />

commercial debt recovery service focused on improving business<br />

cash flow whilst preserving customer relationships and established<br />

reputations. Working with leading brand names in the UK and<br />

internationally, we deliver a bespoke service to our clients – utilising<br />

the Late Payment of Commercial Debts Act (2013) to ensure you<br />

receive 100% of monies owed or on a no collect, no fee agreement.<br />

Our clients also benefit from our in-house international trace and<br />

legal service departments and have complete transparency and<br />

up to the minute information on any accounts placed with us for<br />

recovery through our online debt management system, ClientWeb.<br />


Premium Collections Limited<br />

3 Caidan House, Canal Road<br />

Timperley, Cheshire. WA14 1TD<br />

T: +44 (0)161 962 4695<br />

E: paul.daine@premiumcollections.co.uk<br />

W: www.premiumcollections.co.uk<br />

For all your credit management requirements Premium Collections<br />

has the solution to suit you. Operating on a national and international<br />

basis we can tailor a package of products and services to meet your<br />

requirements.<br />

Services include B2B collections, B2C collections, international<br />

collections, absconder tracing, asset repossessions, status reporting<br />

and litigation support.<br />

Managed from our offices in Manchester, Harrogate and Dublin our<br />

network of 55 partners cover the World.<br />

Contact Paul Daine FCI<strong>CM</strong> on +44 (0)161 962 4695 or<br />

paul.daine@premiumcollections.co.uk<br />

www.premiumcollections.co.uk<br />

Blaser Mills Law<br />

40 Oxford Road,<br />

High Wycombe,<br />

Buckinghamshire. HP11 2EE<br />

T: 01494 478660/478661<br />

E: Jackie Ray jar@blasermills.co.uk or<br />

Gary Braathen gpb@blasermills.co.uk<br />

W: www.blasermills.co.uk<br />

A full-service firm, Blaser Mills Law’s experienced Commercial<br />

Recoveries team offer pre-legal collections, debt recovery,<br />

litigation, dispute resolution and insolvency. The team includes<br />

CI<strong>CM</strong> qualified staff, recommended in both Legal 500 and<br />

Chambers & Partners legal directories.<br />

Offices in High Wycombe, Amersham, Rickmansworth, London<br />

and Silverstone<br />

Lovetts Solicitors<br />

Lovetts, Bramley House, The Guildway, Old Portsmouth<br />

Road, Guildford, Surrey GU3 1LR<br />

T: +44(0)1483 457500 E: info@lovetts.co.uk<br />

W: www.lovetts.co.uk<br />

Lovetts has been recovering debts for 30 years! When you<br />

want the right expertise to recover overdue debts why not use a<br />

specialist? Lovetts’ only line of business is the recovery of<br />

business debts and any resulting commercial litigation.<br />

We provide:<br />

• Letters Before Action, prompting positive outcomes in more than<br />

80 percent of cases • Overseas Pre-litigation collections with<br />

multi-lingual capabilities • 24/7 access to our online debt<br />

management system ‘CaseManager’<br />

Don’t just take our word for it, here’s recent customer feedback:<br />

“...All our service expectations have been exceeded...”<br />

“...The online system is particularly useful and is extremely easy<br />

to use... “...Lovetts has a recognisable brand that generates<br />

successful results...”<br />

Yuill + Kyle<br />

Capella, 60 York Street, Glasgow, G2 8JX, Scotland, UK<br />

T: 0141 572 4251<br />

E: scowan@yuill-kyle.co.uk<br />

W: www.debtscotland.com<br />

Do You Have Trouble Collecting Debts in<br />

Scotland? We Don’t<br />

Yuill + Kyle is one of Scotland’s leading debt recovery and credit<br />

control law firms. With over 100 years of experience, we are<br />

specialists in resolving disputed and undisputed debts. Our track<br />

record for successful recoveries means you have just moved one step<br />

closer to getting your money back.<br />

How we can help you:<br />

• Specialist advice for all of your legal matters<br />

• A responsive and straightforward approach<br />

• Providing you with solutions-driven advice<br />

• Delivering cost certainty and value for money<br />

Our services<br />

• Pre-sue • Fast track collections • Judgement enforcement<br />

• Insolvency • Bankruptcy • Liquidation<br />

Sanders Consulting Associates Ltd<br />

T: +44(0)1525 720226<br />

E: enquiries@chrissandersconsulting.com<br />

W: www.chrissandersconsulting.com<br />

Sanders Consulting is an independent niche consulting firm<br />

specialising in leadership and performance improvement in all aspects<br />

of the order to cash process. Chris Sanders FCI<strong>CM</strong>, the principal, is<br />

well known in the industry with a wealth of experience in operational<br />

credit management, billing, change and business process improvement.<br />

A sought after speaker with cross industry international experience in<br />

the business-to-business and business-to-consumer markets, his<br />

innovative and enthusiastic approach delivers pragmatic people and<br />

process lead solutions and significant working capital improvements to<br />

clients. Sanders Consulting are proud to manage CI<strong>CM</strong>Q on behalf of<br />

and under the supervision of the CI<strong>CM</strong>.<br />


Court Enforcement Services<br />

Wayne Whitford – Director<br />

M: +44 (0)7834 748 183 T : +44 (0)1992 663 399<br />

E : wayne@courtenforcementservices.co.uk<br />

W: www.courtenforcementservices.co.uk<br />

High Court Enforcement that will Empower You!<br />

We help law firms and in-house debt recovery and legal teams to<br />

enforce CCJs by transferring them up to the High Court. Setting us<br />

apart in the industry, our unique and Award Winning Field Agent App<br />

helps to provide information in real time and transparency, empowering<br />

our clients when they work with us.<br />

• Free Transfer up process of CCJ’s to High Court<br />

• Exceptional Recovery Rates<br />

• Individual Client Attention and Tailored Solutions<br />

• Real Time Client Access to Cases<br />


CoCredo<br />

Missenden Abbey, Great Missenden, Bucks, HP16 0BD<br />

T: 01494 790600<br />

E: customerservice@cocredo.com<br />

W: www.cocredo.co.uk<br />

CoCredo’s award winning credit reporting and monitoring systems have<br />

helped to protect over £27 billion of turnover on behalf of our customers.<br />

Our company data is updated continually throughout the day and access<br />

to the online portal is available 365 days a year 24/7.<br />

At CoCredo we aggregate data from a range of leading providers in<br />

the UK and across the globe so that our customers can view the best<br />

available data in an easy to read report. We offer customers XML<br />

Integration and D.N.A Portfolio Management as well as an industry-first<br />

Dual Report, comparing two leading providers opinions in one report.<br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 64


russell@cabbells.uk 0203 603 7937<br />




Company Watch<br />

Centurion House, 37 Jewry Street,<br />

LONDON. EC3N 2ER<br />

T: +44 (0)20 7043 3300<br />

E: info@companywatch.net<br />

W: www.companywatch.net<br />

Organisations around the world rely on Company Watch’s industryleading<br />

financial analytics to drive their credit risk processes. Our<br />

financial risk modelling and ability to map medium to long-term risk as<br />

well as short-term credit risk set us apart from other credit reference<br />

agencies.<br />

Quality and rigour run through everything we do, from our unique<br />

method of assessing corporate financial health via our H-Score®, to<br />

developing analytics on our customers’ in-house data.<br />

With the H-Score® predicting almost 90 percent of corporate<br />

insolvencies in advance, it is the risk management tool of choice,<br />

providing actionable intelligence in an uncertain world.<br />

Experian<br />

The Sir John Peace Building, Experian Way<br />

NG2 Business Park, Nottingham NG80 1ZZ<br />

T: 0844 481 9920<br />

W: www.experian.co.uk/business-information/<br />

For over 30 years Experian have been processing, matching and deriving<br />

insights to provide accurate, up-to-date information that helps B2B<br />

organisations to make more effective, fact based decisions, reduce<br />

risks and meet regulatory standards. We turn complex data into clear<br />

insights that help manage UK and international businesses to maximise<br />

opportunities for growth and identify and minimise the associated risks.<br />

Blending our business and consumer data we can offer a truly blended<br />

score for sole traders and enhanced scoring on SME’s to tell you more<br />

about the business and the people behind the business. Experian can<br />

support with new business, acquisition through to collections while<br />

managing KYC requirements online or via our suite of APIs.<br />

Graydon UK<br />

66 College Road, 2nd Floor, Hygeia Building, Harrow,<br />

Middlesex, HA1 1BE<br />

T: +44 (0)208 515 1400<br />

E: customerservices@graydon.co.uk<br />

W: www.graydon.co.uk<br />

With 130+ years of experience, Graydon is a leading provider of<br />

business information, analytics, insights and solutions. Graydon<br />

helps its customers to make fast, accurate decisions, enabling them<br />

to minimise risk and identify fraud as well as optimise opportunities<br />

with their commercial relationships. Graydon uses 130+ international<br />

databases and the information of 90+ million companies. Graydon<br />

has offices in London, Cardiff, Amsterdam and Antwerp. Since 2016,<br />

Graydon has been part of Atradius, one of the world’s largest credit<br />

insurance companies.<br />


SmartSearch<br />

SmartSearch, Harman House,<br />

Station Road,Guiseley, Leeds, LS20 8BX<br />

T: +44 (0)113 238 7660<br />

E: info@smartsearchuk.com W: www.smartsearchuk.com<br />

KYC, AML and CDD all rely on a combination of deep data with broad<br />

coverage, highly automated flexible technology with an innovative<br />

and intuitive customer interface. Key features include automatic<br />

Worldwide Sanction & PEP checking, Daily Monitoring, Automated<br />

Enhanced Due Diligence and pro-active customer management.<br />

Choose SmartSearch as your benchmark.<br />

CEDAR<br />

ROSE<br />

R<br />

Cedar Rose<br />

3, Georgiou Katsonotou Street,3036, Limassol, Cyprus<br />

E: info@cedar-rose.com T: +357 25346630<br />

W: www.cedar-rose.com<br />

Cedar Rose has been globally recognised as the expert for<br />

credit reports, due diligence and data for the Middle East<br />

and North African countries since 1997. We now cover over<br />

170 countries with the same high quality, expert analysis<br />

and attention to detail we are well-known and trusted for.<br />

Making best use of artificial intelligence and technology, Cedar<br />

Rose has won several awards including Credit Excellence<br />

& European Business Awards. Our website is a one-stopshop<br />

for your business intelligence solutions. We are the<br />

ultimate source; with competitive prices and friendly customer<br />

service - whether you need one or one thousand reports.<br />


Keyivr<br />

T: +44 (0) 1302 513 000<br />

E: sales@keyivr W: www.keyivr.co.uk<br />

Key IVR are proud to have joined the Chartered Institute of Credit<br />

Management’s Corporate partnership scheme. The CI<strong>CM</strong> is a<br />

recognised and trusted professional entity within credit management<br />

and a perfect partner for Key IVR. We are delighted to be providing<br />

our services to the CI<strong>CM</strong> to assist with their membership collection<br />

activities. Key IVR provides a suite of products to assist companies<br />

across the Europe with credit management. Our service is based<br />

around giving the end-user the means to make a payment when and<br />

how they choose. Using automated collection methods, such as a<br />

secure telephone payment line (IVR), web and SMS allows companies<br />

to free up valuable staff time away from typical debt collection.<br />


T: +31 (0)88 256 66 66<br />

E: ruurd.bakker@onguard.com<br />

W: www.onguard.com<br />

Onguard is specialist in credit management software and market<br />

leader in innovative solutions for order to cash. Our integrated<br />

platform ensures an optimal connection of all processes in the order<br />

to cash chain and allows sharing of critical data.<br />

Intelligent tools that can seamlessly be interconnected and offer<br />

overview and control of the payment process, as well as contribute to<br />

a sustainable customer relationship.<br />

In more than 50 countries the Onguard platform is successfully used<br />

for successful credit management.<br />

Tinubu Square UK<br />

Holland House, 4 Bury Street,<br />

London EC3A 5AW<br />

T: +44 (0)207 469 2577 /<br />

E: uksales@tinubu.com<br />

W: www.tinubu.com<br />

Founded in 2000, Tinubu Square is a software vendor, enabler of the<br />

Credit Insurance, Surety and Trade Finance digital transformation.<br />

Tinubu Square enables organizations across the world to significantly<br />

reduce their exposure to risk and their financial, operational and technical<br />

costs with best-in-class technology solutions and services. Tinubu<br />

Square provides SaaS solutions and services to different businesses<br />

including credit insurers, receivables financing organizations and<br />

multinational corporations.<br />

Tinubu Square has built an ecosystem of customers in over 20 countries<br />

worldwide and has a global presence with offices in Paris, London, New<br />

York, Montreal and Singapore.<br />

Credica Ltd<br />

Building 168, Maxell Avenue, Harwell Oxford, Oxon. OX11 0QT<br />

T: 01235 856400E: info@credica.co.uk W: www.credica.co.uk<br />

Our highly configurable and extremely cost effective Collections and<br />

Query Management System has been designed with 3 goals in mind:<br />

• To improve your cashflow • To reduce your cost to collect<br />

• To provide meaningful analysis of your business<br />

Evolving over 15 years and driven by the input of 1000s of Credit<br />

Professionals across the UK and Europe, our system is successfully<br />

providing significant and measurable benefits for our diverse portfolio<br />

of clients.<br />

We would love to hear from you if you feel you would benefit from our<br />

‘no nonsense’ and human approach to computer software.<br />

Data Interconnect Ltd<br />

Units 45-50<br />

Shrivenham Hundred Business Park<br />

Majors Road, Watchfield<br />

Swindon, SN6 8TZ<br />

T: +44 (0)1367 245777<br />

E: sales@datainterconnect.co.uk<br />

W: www.datainterconnect.com<br />

Data Interconnect provides Intelligent Invoice to Cash Automation.<br />

Corrivo Billing, Collection and Dispute modules seamlessly integrate<br />

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

portals, real-time dashboards, advanced reporting, available in 15<br />

languages as standard; are some of the reason why global brands<br />

choose Data Interconnect.<br />

Proud supporters<br />

of CI<strong>CM</strong>Q<br />

Rimilia<br />

Corbett House, Westonhall Road, Bromsgrove, B60 4AL<br />

T: +44 (0)1527 872123 E: enquiries@rimilia.com<br />

W: www.rimilia.com<br />

Operating globally across any sector, Rimilia provides intelligent,<br />

finance automation solutions that enable customers to get paid on time<br />

and control their cashflow and cash collection in real time. Rimilia’s<br />

software solutions use sophisticated analytics and artificial intelligence<br />

(AI) to predict customer payment behaviour and easily match and<br />

reconcile payments, removing the uncertainty of cash collection. The<br />

Rimilia software automates the complete accounts receivable process<br />

and eliminates unallocated cash, reducing manual activity by an<br />

average 70% and achieving best in class matching rates recognised<br />

by industry specialists such as The Hackett Group.<br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 65 continues on page 66 >

Cr£ditWho?<br />

CI<strong>CM</strong> Directory of Services<br />



russell@cabbells.uk 0203 603 7937<br />



FORUMS<br />

HighRadius<br />

T: +44 7399 406889<br />

E: gwyn.roberts@highradius.com<br />

W: www.highradius.com<br />

HighRadius is the leading provider of Integrated Receivables<br />

solutions for automating receivables and payment functions such<br />

as credit, collections, cash allocation, deductions and eBilling.<br />

The Integrated Receivables suite is delivered as a software-as-aservice<br />

(SaaS). HighRadius also offers SAP-certified Accelerators<br />

for SAP S/4HANA Finance Receivables Management, enabling<br />

large enterprises to maximize the value of their SAP investments.<br />

HighRadius Integrated Receivables solutions have a proven track<br />

record of reducing days sales outstanding (DSO), bad-debt and<br />

increasing operation efficiency, enabling companies to achieve an<br />

ROI in less than a year.<br />

C2FO<br />

15 Statton Street, Mayfair,<br />

London W1J 8LQ<br />

T: 07799 692193<br />

E: anna.donadelli@c2fo.com W: www.c2fo.com<br />

C2FO turns receivables into cashflow and payables into income,<br />

uniquely connecting buyers and suppliers to allow discounts in<br />

exchange for early payment of approved invoices. Suppliers access<br />

additional liquidity sources by accelerating payments from buyers<br />

when required in just two clicks, at a rate that works for them.<br />

Buyers, often corporates with global supply chains, benefit from the<br />

C2FO solution by improving gross margin while strengthening the<br />

financial health of supply chains through ethical business practices.<br />


T: +44 (0)1246 555055<br />

E: info@forumsinternational.co.uk<br />

W: www.forumsinternational.co.uk<br />

Forums International Ltd have been running Credit and Industry<br />

Forums since 1991. We cover a range of industry sectors and<br />

International trading, attendance is for Credit Professionals of all<br />

levels. Our forums are not just meetings but communities which<br />

aim to prepare our members for the challenges ahead. Attending<br />

for the first time is free for you to gauge the benefits and meet the<br />

members and we only have pre-approved Partners, so you will never<br />

intentionally be sold to.<br />

LEGAL<br />

Redwood Collections Ltd<br />

0208 288 3555<br />

enquiry@redwoodcollections.com<br />

Airport House, Purley Way, Croydon, CR0 0XZ<br />

“Redwood Collections offers a complete portfolio of debt collection<br />

services ranging from sensitive client-debtor mediation through to<br />

legal and insolvency action.<br />

Incorporated in 2009, we are pleased to represent in excess of<br />

11,000 clients. Whatever your debt collection needs, we have the<br />

expertise and resources to deliver a fast, efficient and cost-effective<br />

solution.”<br />

identeco – Business Support Toolkit<br />

Compass House, Waterside, Hanbury Road, Bromsgrove,<br />

Worcestershire B60 4FD<br />

Telephone: 01527 549 531<br />

Email: info@identeco.co.uk<br />

Web: www.identeco.co.uk<br />

identeco’s Business Support Toolkit is an online portal connecting<br />

its subscribers to a range of business services that help them to<br />

engage with new prospects, understand their customers and<br />

mitigate risk. Annual subscription is £79.95 per year for unlimited<br />

access. Providing company information and financial reports,<br />

director and shareholder structures as well as a unique financial<br />

health rating, balance sheets, ratio analysis, and any detrimental<br />

data that might be associated with a company. Other services also<br />

included in the subscription include a business names database,<br />

Shoosmiths<br />

Email: paula.swain@shoosmiths.co.uk<br />

Tel: 03700 86 3000 W: www.shoosmiths.co.uk<br />

Shoosmiths’ highly experienced team will work closely with credit<br />

teams to recover commercial debts as quickly and cost effectively as<br />

possible. We have an in depth knowledge of all areas of debt recovery,<br />

including:<br />

• Pre-litigation services to effect early recovery and keep costs down<br />

• Litigation service<br />

• Post-litigation services including enforcement<br />

• Insolvency<br />

As a client of Shoosmiths, you will find us quick to relate to your goals,<br />

and adept at advising you on the most effective way of achieving them.<br />



Serrala UK Ltd, 125 Wharfdale Road<br />

Winnersh Triangle, Wokingham<br />

Berkshire RG41 5RB<br />

E: a.velzian@serrala.com W: www.serrala.com<br />

T: +44 1182 070 464 M: +44 7802 881 797<br />

Serrala optimizes the Universe of Payments for organisations seeking<br />

efficient cash visibility and secure financial processes. As an SAP<br />

Partner, Serrala supports over 3,500 companies worldwide. With<br />

more than 30 years of experience and thousands of successful<br />

customer projects, including solutions for the entire order-tocash<br />

process, Serrala provides credit managers and receivables<br />

professionals with the solutions they need to successfully protect<br />

their business against credit risk exposure and bad debt loss.<br />


Dun & Bradstreet<br />

Marlow International, Parkway Marlow<br />

Buckinghamshire SL7 1AJ<br />

Telephone: (0800) 001-234 Website: www.dnb.co.uk<br />

Dun & Bradstreet Finance Solutions enable modern finance<br />

leaders and credit professionals to improve business performance<br />

through more effective risk management, identification of growth<br />

opportunities, and better integration of data and insights across the<br />

business. Powered by our Data Cloud, our solutions provide access<br />

to the world’s most comprehensive commercial data and insights<br />

- supplying a continually updated view of business relationships<br />

that helps finance and credit teams stay ahead of market shifts and<br />

customer changes. Learn more here:<br />

www.dnb.co.uk/modernfinance<br />

ESKER<br />

Sam Townsend Head of Marketing<br />

Northern Europe Esker Ltd.<br />

T: +44 (0)1332 548176 M: +44 (0)791 2772 302<br />

W: www.esker.co.uk<br />

LinkedIn: Esker – Northern Europe<br />

Twitter: @EskerNEurope<br />

Esker.blog<br />

Esker’s Accounts Receivable (AR) solution removes the all-toocommon<br />

obstacles preventing today’s businesses from collecting<br />

receivables in a timely manner. From invoice delivery to cash<br />

application, Esker automates each step. Esker's automated AR<br />

system powered by TermSync helps companies modernise without<br />

replacing their core billing and collections processes. By simply<br />

automating what should be automated, customers get the post-sale<br />

experience they deserve and your team gets the tools they need.<br />


Gravity London<br />

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

T: +44(0)207 330 8888. E: sfeast@gravitylondon.com<br />

W: www.gravitylondon.com<br />

Gravity is an award winning full service PR and advertising<br />

business that is regularly benchmarked as being one of the best<br />

in its field. It has a particular expertise in the credit sector, building<br />

long-term relationships with some of the industry’s best-known<br />

brands working on often challenging briefs. As the partner agency for<br />

the Credit Services Association (CSA) for the past 13 years, and the<br />

Chartered Institute of Credit Management since 2006, it understands<br />

the key issues affecting the credit industry and what works and what<br />

doesn’t in supporting its clients in the media and beyond.<br />

Bottomline Technologies<br />

115 Chatham Street, Reading<br />

Berks RG1 7JX | UK<br />

T: 0870 081 8250 E: emea-info@bottomline.com<br />

W: www.bottomline.com/uk<br />

Bottomline Technologies (NASDAQ: EPAY) helps businesses<br />

pay and get paid. Businesses and banks rely on Bottomline for<br />

domestic and international payments, effective cash management<br />

tools, automated workflows for payment processing and bill<br />

review and state of the art fraud detection, behavioural analytics<br />

and regulatory compliance. Businesses around the world depend<br />

on Bottomline solutions to help them pay and get paid, including<br />

some of the world’s largest systemic banks, private and publicly<br />

traded companies and Insurers. Every day, we help our customers<br />

by making complex business payments simple, secure and seamless.<br />

American Express<br />

76 Buckingham Palace Road,<br />

London. SW1W 9TQ<br />

T: +44 (0)1273 696933<br />

W: www.americanexpress.com<br />

American Express is working in partnership with the CI<strong>CM</strong> and is<br />

a globally recognised provider of payment solutions to businesses.<br />

Specialising in providing flexible collection capabilities to drive a<br />

number of company objectives including:<br />

•Accelerate cashflow •Improved DSO •Reduce risk<br />

•Offer extended terms to customers<br />

•Provide an additional line of bank independent credit to drive<br />

growth •Create competitive advantage with your customers<br />

As experts in the field of payments and with a global reach,<br />

American Express is working with credit managers to drive growth<br />

within businesses of all sectors. By creating an additional lever to<br />

help support supplier/client relationships American Express is proud<br />

to be an innovator in the business payments space.<br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 66

Testimonial<br />

We have been regular advertisers<br />

in Credit Management (<strong>CM</strong>)<br />

magazine for more than ten<br />

years and have found it to be an<br />

excellent medium for raising our<br />

brand awareness and securing<br />

major contracts.<br />

By way of example, one of the<br />

largest logistics firms in the world<br />

approached us for our services<br />

having seen our profile in <strong>CM</strong>.<br />

This led to a very successful<br />

relationship and gained us<br />

significant credibility.<br />

We would recommend advertising<br />

in <strong>CM</strong> magazine to other<br />

businesses.<br />


Portfolio Credit Control<br />

1 Finsbury Square, London. EC2A 1AE<br />

T: 0207 650 3199<br />

E: recruitment@portfoliocreditcontrol.com<br />

W: www.portfoliocreditcontrol.com<br />

Portfolio Credit Control, solely specialises in the recruitment of<br />

permanent, temporary and contract Credit Control, Accounts<br />

Receivable and Collections staff. Part of an award winning recruiter<br />

we speak to and meet credit controllers all day everyday understanding<br />

their skills and backgrounds to provide you with tried and tested credit<br />

control professionals. We have achieved enormous growth because we<br />

offer a uniquely specialist approach to our clients, with a commitment<br />

to service delivery that exceeds your expectations every single time.<br />




Hays Credit Management<br />

107 Cheapside, London, EC2V 6DN<br />

T: 07834 260029<br />

E: karen.young@hays.com<br />

W: www.hays.co.uk/creditcontrol<br />

Hays Credit Management is working in partnership with the CI<strong>CM</strong><br />

and specialise in placing experts into credit control jobs and credit<br />

management jobs. Hays understands the demands of this challenging<br />

environment and the skills required to thrive within it. Whatever<br />

your needs, we have temporary, permanent and contract based<br />

opportunities to find your ideal role. Our candidate registration process<br />

is unrivalled, including face-to-face screening interviews and a credit<br />

control skills test developed exclusively for Hays by the CI<strong>CM</strong>. We offer<br />

CI<strong>CM</strong> members a priority service and can provide advice across a wide<br />

spectrum of job search and recruitment issues.<br />



CI<strong>CM</strong>Q accreditation is a proven model<br />

that has consistently delivered dramatic<br />

improvements in cashflow and efficiency<br />

CI<strong>CM</strong>Q is the hallmark of industry<br />

leading organisations<br />

The CI<strong>CM</strong> Best Practice Network is where<br />

CI<strong>CM</strong>Q accredited organisations come<br />

together to develop, share and celebrate<br />

best practice in credit and collections<br />

BE A LEADER – JOIN THE CI<strong>CM</strong> BEST<br />


To find out more about flexible options<br />

to gain CI<strong>CM</strong>Q accreditation<br />

E: cicmq@cicm.com T: 01780 722900<br />

The Recognised Standard / www.cicm.com / <strong>July</strong>/<strong>August</strong> <strong>2019</strong> / PAGE 67

Fast, fair and effective<br />

enforcement<br />

FAST. 48 hour average judgment transfer and very prompt<br />

attendance after notice expiry.<br />

FAIR. Robust vulnerability policies and nationally accredited<br />

training for all our teams.<br />

EFFECTIVE. The largest team of authorised HCEOs and<br />

highly trained enforcement agents.<br />

With our impressive industry leading recovery rates,<br />

nationwide coverage and dedicated Client Services team,<br />

you can trust HCE Group to collect more for you and<br />

your clients.<br />

Instruct us for<br />

Enforcement of judgments and tribunal awards<br />

Eviction of activists, squatters and travellers<br />

Eviction of commercial and residential tenants<br />

Commercial landlord services<br />

Tracing and process serving<br />

Vehicle recovery and enquiry<br />

To find out more or instruct us<br />

08450 999 666<br />


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