Credit Management December 2019

BRANCH NEWS
KAREN Young, Director of
Hays Credit Management,
commenced proceedings
after breakfast, talking
about diversity and
inclusion, sharing stats
around what is most important to workers
– remuneration and flexible working.
Karen explained why diversity and
inclusion is good for business, stressing
the reasons and business drivers behind
this. Tips to consider included blind
decision making when reviewing CVs
(removal of names/education etc.) where
given.
Markus Kuger, Chief Economist
at Dun & Bradstreet then presented
details of payment trends throughout
Europe, focusing on UK industry sector
differences. Markus shared statistics
summarising the position of the UK
economy and job market ending with a
Brexit update.
Global trends in electronic invoicing
and the move to other forms of electronic
document management (e.g. filing of tax
returns) was the topic covered by EY’s
Warren McQuillan and Adam Broughton’s.
They explained where e-invoicing was
mandatory (e.g. Brazil) – largely for
governments to combat tax fraud, and
countries where it was allowed e.g. most
of Europe and Russia. The UK’s 2020 move
to electronic document management was
also discussed.
Zinc’s Head of Corporate Development,
Richard Fenton MCICM, then presented
how digital has changed human
interaction, focussing on how it uses tech
to connect with their customers explaining
that 33 percent of its customers now
communicate with them via non-verbal
THE Ireland Branch of CICM has been
busy over the past few months, with the
main focus on growing membership,
building a strong credit community
and providing credit professionals an
opportunity to learn about the latest
developments that will shape the credit
function in the future.
A major conference was held in
September in the Aviva Stadium in
Dublin on Artificial Intelligence in credit
management. There were a number of
really interesting speakers on topics such
as automation of processes, Blockchain
The Breakfast Club
Annual Southern Branch Credit Day
methods. This has helped Zinc become
more agile and flexible with problem
customers and provided the benefit of
taking emotion and unconscious bias out
of interactions.
Gideon Jones FCICM, Global Channel
Program Manager at Atradius, delivered a
presentation on commercial collections.
He focused on the performance of UK
industries, global country risk and
payment behaviour. After touching on
its debt collection handbook, Gideon
provided useful insight into how
technology is changing collections
and gave details of real-life blockchain
examples.
and various software solutions, along
with an economic overview and the
importance of data. Delegates had an
opportunity to attend various workshops
throughout the day to see the different
systems in operation.
Credit managers and credit controllers
now have the opportunity of gaining their
CICM Diploma through attending classes
in Dublin and Belfast. The next term
begins in Queens University, Belfast on
the 24 February 2020 and in UCD, Dublin
on Thursday 27 February 2020. Closing
date for applications to join the course is
Special Guest, Sir John Madjeski, then
provided the audience with a fascinating
talk about his background including his
life in the US and the far east. He talked
about the ‘University of Life’ and his
business interests including Reading
FC. When asked about the best thing he
had ever done during the Q&A, he said it
was all the work he had completed about
changing people’s lives for the better.
Robotic Process Automation (RPA)
was Paul Morrison’s subject. As Hackett
Group’s Global Lead for RPA and Smart
Automation, he explained RPA to all
present giving examples of its use within
C2C. He stated that RPA is just one of ‘the
tools in the toolbox’ and also gave advice
to those just starting their RPA journey.
Following on nicely from Paul’s
slides, Brian Morgan FCICM, Business
Growth and Partner Director at Rimilia,
spoke about Artificial Intelligence, its
value within cash application and how
businesses were benefitting from this
technology to chase customers at the right
time, based on payment behaviour.
Robert Syms MCICM, Partner, Disputes
and Claims at Herrington-Carmichael
provided an update from the courts
focussing on the rising trend in defended
cases and a system slowdown. He stressed
the importance of credit managers as
gatekeepers, detailed a late payment case
study and explained solicitors’ pricing
models.
Closing comments made by Gary Baker
and Johan Schoeman FCICM from Verizon
and Chief Executive of CICM Philip
King FCICM. Thank you to all involved
– sponsors and attendees especially.
Less thanks to the rattling tea trolley!
Author: Gary Baker FCICM
Building a strong community
Ireland Branch Report
31 December 2019.
Branch Chairman Glyn Powell
presented the Award to The Trade Credit
Team of the Year at the Credit Team
Awards held in Dublin in October.
The next event in February 2020 will
be held jointly with the Northern Ireland
Branch and another major conference
entitled ‘Credit Focus 2020’ that focuses
on cyber and financial threats, leadership
in credit management, vulnerable
and deceased customers, cross border
insolvency and litigation.
Author: Declan Flood FCICM.
The Recognised Standard / www.cicm.com / September 2019 / PAGE 58