Credit Management September 2019

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EDITOR’S COLUMN The ego has landed Sean Feast FCICM Managing Editor SUCCESS, someone once famously said, has many fathers, whereas failure is an orphan. It is such a great phrase and one that has become especially apposite in the world of credit in recent months particularly in the areas of consumer and commercial collections. I was reminded of it following the Government’s announcement of a 60-day breathing space for those in ‘problem’ debt to help give them time to seek debt advice and sort out their finances. It’s a splendid plan to help the most vulnerable in society and a crowd pleaser to show the government does actually care after almost ten years of austerity. It was heralded on the Money Saving Expert website as a ‘victory’ for its founder who had ‘long since campaigned for the government to introduce breathing space for debt sufferers.’ Looking back through the archive, I note that the founder and chairman first started campaigning on this front in 2016, when he teamed up with the then Chief Executive of StepChange to call for government action. It seems, however, that this was a full four years after the Credit Services Association (CSA), the trade body representing the UK debt collection industry, had already introduced the provision of breathing space into its members’ Code of Practice (see our article page 24). Closer to home, there was another more outrageous claim in recent weeks highlighted by a tweet by an executive within the FSB after the government announced further steps to tackle late payment. The tweet proclaimed: ‘What a day. A great pay off for the FSB’s tough focus on what they told us was impossible – solving late payments.’ Well done indeed if the FSB has single-handedly solved late payment, which I very much doubt that it has. But if it is the case, then I suppose we can ignore the work of the CICM in devising and launching the Prompt Payment Code, publishing its highlyacclaimed Managing Cashflow Guides, and 80 years of championing best-practice credit management with government and business (see Philip King’s piece on page 13). My point? It is not that organisations like Money Saving Expert and the FSB are not essential, or don’t do vital work to support the audiences they serve. Having worked in the media for 35 years, I also understand the power and importance of celebrity. (The Bomber Command Memorial, with which I was closely involved, would not have achieved half the media interest if it had not been for the involvement of Robin Gibb.) But success is rarely the achievement of one man, woman or organisation. It is more often the combination of many parties with shared interests and goals, all campaigning hard and striving to do their best. So rather than pulling away from one another, and claiming ‘victories’, it would be much nicer – and more productive – to see everyone working together for mutual success. So rather than pulling away from one another, and claiming ‘victories’, it would be much nicer – and more productive – to see everyone working together for mutual success. The Recognised Standard / www.cicm.com / September 2019 / PAGE 4
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Credit Management September 2019

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