CM October 2020

More documents

Recommendations

Info

Appointment | Credit Academy Trainer You Are a passionate expert in credit management. Are an inspiring trainer, coach and mentor. Would love the opportunity to shape and influence the credit talent in industries across the world. We Are the world’s largest recognised professional body for the credit industry. Are building our training team, thanks to the recent success of CICM Training. Have ambitious plans for the future. Working for the CICM Credit Academy, the learning delivery arm of the CICM, the new Credit Academy Trainer will enhance the capability and competencies of CICM members, individuals and credit teams by designing and delivering training programmes and products. And there has never been a more exciting time to join our team. Go to cicm.com/vacancies for a full role description and how to apply. You have until the end of September.
NEW FEATURE PANEL BASHERS Ship to Shore In our new series, we ask a panel of credit management experts to answer some of our readers’ biggest questions. Does off-shoring Accounts Receivable work in a pandemic? Panellist Nigel Fields FCICM COVID-19 has probably impacted every business across the globe. One area of major concern and possible disruption is the uncertainty of using a Business Process Outsourcing (BPO) model especially if it’s off-shore. The varying infection rates across every country will make it virtually impossible to get any kind of plan and consistency if ‘off-shoring.’ Different country rules and regulations vary widely and are not easily understood either by the organisation or their customers. This makes managing the ‘off-shore’ BPO extremely difficult and with so much uncertainty creates a sizeable risk for the business. This has exposed a huge (probably previously unknown) risk and weaknesses that was not considered in the past. We all know that one of the key benefits of BPO outsourcing is the potential to tap into a skilled workforce and often in countries with lower staff costs. This however diminishes the levels of control an organisation might exert over this remote BPO workforce. It also completely nullifies any ability to change local statutory employment rules or other laws. The cost benefit is always a major attraction, but it needs to also be weighed up against the much-increased focus with working alongside a BPO partner. One must both ensure good productivity and reliable services. It’s essential to have a good, strong governance model. Even with the best governance in place, and amid this pandemic, the BPO sectors will have really struggled to ensure their workforce is able to transition to a working-from-home model. This will have been a humongous (if not, impossible) task, especially in countries where conditions are really not conducive to a WFH model; poor internet and telephone connectivity and ensuring the correct controls and security are in place for clients or even just expecting their employees to have room and facilities at own homes to provide a service is a huge ask. I suspect that many BPO employees may have been forced to adapt to highly irregular working arrangements. I am absolutely certain that we will start to see both BPO and their clients aggressively look to ‘de-risk’. COVID-19 will have had a significant impact on outsourced arrangements. Going forward, I think that BPO provider’s will transition towards providing more automated and technical services using Robot Process Automations (RPA) and Artificial Intelligence (AI). Client organisations will need to pay close attention to their critical functions and possibly look to bring these back in-house or maybe find ‘on-shore’ partners where they will have a much better understanding of local rules and regulations. Thinking outside the box has never been more important. De-risking will be essential for businesses to ensure their operations continue smoothly and without interruptions and disruptions. NIGEL FIELDS FCICM A career in credit management spanning more than 30 years, Nigel is now a senior consultant with a new start-up company TheBossCat.com which provides knowledge, skills and various services to a wide range of businesses. Nigel spent 20 years working for Twentieth Century Fox International Film Corp. starting out in its UK business as Credit Manager and rising to Executive Director for Credit, responsible for (O2C) Order to Cash across Fox’s entire international business portfolio. Prior to Fox, he worked as the Credit Manager at Hornby Hobbies and a Credit Controller for GEC. Nigel says: “I attribute much of my career success to the CICM community where I am always able to draw upon knowledge and skills from the extensive array of members and partners.” If you’d like to join our panel of experts, or if you have a question to ask, contact the editor at sfeast@gravityglobal.com Advancing the credit profession / www.cicm.com / October 2020 / PAGE 37
Page 1 and 2: CREDIT MANAGEMENT CM OCTOBER 2020
Page 3 and 4: 9 FALSE DAWNS Sue Chapple FCICM CIC
Page 5 and 6: CMNEWS A round-up of news stories f
Page 7 and 8: UK workers ‘better off’ during
Page 9 and 10: FROM THE CHIEF EXECUTIVE False Dawn
Page 11 and 12: INSOLVENCY SPECIAL AUTHOR - David K
Page 13 and 14: ENFORCEMENT AUTHOR - Russell Hambli
Page 15 and 16: Advancing the credit profession / w
Page 17 and 18: CREDIT ECOSYSTEM AUTHOR - Aneesh Va
Page 19 and 20: EXCLUSIVE REPORT AUTHOR - Markus Ku
Page 21 and 22: INTERVIEW LEGALLY SPEAKING Sean Fea
Page 23 and 24: INTERVIEW AUTHOR - Sean Feast FCICM
Page 25 and 26: COUNTRY FOCUS AUTHOR - Adam Bernste
Page 27 and 28: COUNTRY FOCUS AUTHOR - Adam Bernste
Page 29 and 30: CAREERS ADVICE OPEN ALL HOURS? What
Page 31 and 32: River deep dam high LOOK at the Ear
Page 33 and 34: ’ EXECUTIVE BOARD Debbie Nolan FC
Page 35: By delivering an approach that diff
Page 39 and 40: PAYMENT TRENDS Data supplied by the
Page 41 and 42: Each of our Corporate Partners is c
Page 43 and 44: presents
Page 45 and 46: OPINION Mind over Matter Additional
Page 47 and 48: $ Advancing Careers Advancing Best
Page 49 and 50: www.cicm.com ‘‘ Since being a m
Page 51 and 52: What impact will Crown Preference h
Page 53 and 54: HR MATTERS SEEING IS BELIEVING Comp
Page 55 and 56: BRANCH NEWS Standing out from the c
Page 57 and 58: INSPIRE ME IN THE NEW ERA OF WORK Y
Page 59 and 60: More reasons to be a member Make co
Page 61 and 62: FOR ADVERTISING INFORMATION OPTIONS
Page 63 and 64: PAYMENT SOLUTIONS American Express

CM October 2020

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?