Credit Management issue April 2021

CREDIT MANAGEMENT
CM
APRIL 2021 £12.50
THE CICM MAGAZINE FOR CONSUMER AND
COMMERCIAL CREDIT PROFESSIONALS
INSIDE
Winners of the
CICM British Credit
Awards 2021
SEE PAGES: 34-40
Sunny
Delight
The gloom of
winter is over
Individual Voluntary
Arrangements are broken
but can be repaired. Page 20
A new service is helping
businesses conduct international
trade. Page 28

24
COUNTRY FOCUS
Adam Bernstein
26
CLEAN LIVING
JOHN DOBSON
xx
OPINION
Kevin Reed
APRIL 2021
www.cicm.com
CONTENTS
11 – BRIDGE OF SIGHS
The relief as we head towards a more
normal world is palpable
12 – BUY NOW PAY LATER
Why tighter regulation in the buy now,
pay later space is a good thing
14 – NEVER SATISFIED
Neil Jinks looks at the issues over CCJ
enforcement and impact on cashflow
18 – DAWN RIDER
David Andrews gives his View from the
Seafront
20 – SNAP JUDGMENT
Peter Wallwork argues that IVAs may be
broken but can be repaired
24 – SMALL ISLAND (PART 1)
With the uncertainties of Brexit,
Singapore seems a good place to do
business
26 – CLEAN LIVING
COVID-19 is promoting a drive to
electronic validation
18
VIEW FROM THE SEAFRONT
David Andrews
CICM GOVERNANCE
View our digital version online at www.cicm.com. Log on to the Members’
area, and click on the tab labelled ‘Credit Management magazine’
Credit Management is distributed to the entire UK and international CICM
membership, as well as additional subscribers
Reproduction in whole or part is forbidden without specific permission. Opinions expressed in this magazine do
not, unless stated, reflect those of the Chartered Institute of Credit Management. The Editor reserves the right to
abbreviate letters if necessary. The Institute is registered as a charity. The mark ‘Credit Management’ is a registered
trade mark of the Chartered Institute of Credit Management.
Any articles published relating to English law will differ from laws in Scotland and Wales.
12
BUY NOW PAY LATER
Aneesh Varma
President Stephen Baister FCICM / Chief Executive Sue Chapple FCICM
Executive Board: Chair Debbie Nolan FCICM(Grad) – Vice Chair Phil Rice FCICM /Treasurer Glen Bullivant FCICM
Larry Coltman FCICM / Victoria Herd FCICM(Grad) / Philip Holbrough MCICM
Advisory Council: Sarah Aldridge FCICM / Laurie Beagle FCICM / Glen Bullivant FCICM / Alan Church FCICM(Grad)
Brendan Clarkson FCICM / Larry Coltman FCICM / Niall Cooter FCICM / Peter Gent FCICM(Grad) / Victoria Herd FCICM(Grad)
Philip Holbrough MCICM / Neil Jinks FCICM / Nick King FCICM / Charles Mayhew FCICM / Debbie Nolan FCICM(Grad)
Bryony Pettifor FCICM(Grad)/ Allan Poole MCICM / Alice Purdy MCICM(Grad) / Matthew Roberts MCICM / Phil Rice FCICM
Chris Sanders FCICM / Stephen Thomson FCICM / Atul Vadher FCICM(Grad)
28 – RISKY BUSINESS
A new service is helping businesses
conduct international trade
32 – ASK THE EXPERTS
What should I look for in appointing an
external collections agency or lawyer?
Publisher
Chartered Institute of Credit Management
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Telephone: 01780 722900
Email: editorial@cicm.com
Website: www.cicm.com
CMM: www.creditmanagement.org.uk
Managing Editor
Sean Feast FCICM
Deputy Editor
Iona Yadallee
Art Editor
Andrew Morris
Telephone: 01780 722910
Email: andrew.morris@cicm.com
Editorial Team
Laura Biondi, Imogen Hart, Rob Howard
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Advertising
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Email: russell@centuryone.uk
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ISSN 0265-2099
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 3

EDITOR’S COLUMN
Four legs good,
two legs bad
Sean Feast FCICM
Managing Editor
SO the secret is finally out.
Liz Barclay, the former BBC
Broadcaster, has succeeded our
own Philip King FCICM as the
Small Business Commissioner.
Whereas Philip was appointed
on an interim basis following the surprise
departure of Paul Uppal, Liz Barclay will be
taking on the role permanently from July.
And good luck to her. She has a tough job
on her hands.
The SBC is not one person but rather
an independent public body set up by
Government under the Enterprise Act 2016
to tackle late payment and unfavourable
payment practices in the private sector.
Liz has no doubt been chosen because
of her credentials as an experienced
campaigner on behalf of consumers
and small companies, as a volunteer for
Citizens Advice, and as a former nonexecutive
director of the Financial Services
Compensation Scheme.
Her ‘previous’ as a BBC Broadcaster and
long-time presenter of Radio 4’s ‘You and
Yours’ was also, no doubt, a consideration.
The scale of the challenge, I expect, is
not lost on her. According to Government
figures, about £23.4 billion is owed in
outstanding invoices to British businesses,
with some businesses waiting several
months before paying their suppliers,
putting strain on cashflow. The Federation
of Small Businesses estimates that about
50,000 businesses close every year due
to late payments, and the pandemic will
doubtless lead to many thousands more.
Already Liz is saying the right things.
Interviewed for The Times on her
appointment, she talked about needing
a real culture change around business
payments: “People who have already
delivered goods and services have to be
able to turn their attention to their next
client and next order rather than chasing
up late payments and worrying about their
cashflow,” she says.
Of course, she is right. It’s something her
predecessor said during his tenure, and
during the 14 years that he was CEO at the
CICM. It’s what our own Chief Executive
has also been saying, and indeed the
importance of ‘managing cashflow’ has
been the mantra of the Institute for as long
as I can remember.
But these same small businesses need
to help themselves. ‘Cultural’ change is
not just about saying ‘here’s a big stick let’s
go beat up some big boys.’ It’s also about
changing the mind-set of small businesses
that there is plenty they could be doing at
their end to ensure they get paid on time.
Like invoicing promptly, for example, and
to the right company, with a PO if required,
and following up to make sure everything
is in order and there is no reason for an
invoice not to be paid, rather than just
sitting there and hoping for the best.
I hope Liz engages with organisations
like our own at the first opportunity, and
that we have an opportunity of sharing best
practice, as we have done with countless
Government ministers and departments
before her. I hope too that she doesn’t
get too distracted by the more vocal of
our campaigning groups who chant ‘Big
company bad, small company good’ in
similar fashion to the sheep’s constant
bleating in Animal Farm of ‘Four legs good,
two legs bad’.
Because we all know what happened on
the farm in the end.
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 4

CMNEWS
A round-up of news stories from the
world of consumer and commercial credit.
CIVEA supports CICM training
of new enforcement agents
CIVEA – the civil enforcement
association – has agreed
to promote the CICM Level
2 Taking Control of Goods
qualification to its 38 member
firms representing about 2,000
enforcement agents.
The CICM is one of three organisations
(the other two being IES Training and High
Court Enforcement Group) that CIVEA will
promote who offer regulated professional
enforcement qualifications.
From 1 March, CICM has waived the CICM
initial registration fee for enforcement
agents who work for CIVEA companies
and HCEOA members. The Institute will
include fees for the CICM online Level
2 Taking Control of Goods and Level 3
Advanced Enforcement courses in the CICM
membership package.
Russell Hamblin-Boone, CIVEA Chief
Executive, says the initiative comes at
an important time for the industry: “We
anticipate the total number of enforcement
agents to rise because of high demand from
Written by – Sean Feast FCICM
Sue Chapple FCICM CEO
“Through our
long-term
relationship with
the HCEOA we
have always been
closely associated
with driving up
professional
standards in
enforcement.”
the courts and local authorities to clear the
backlog of cases held up by the lockdowns,”
he explains. “Some larger firms are already
recruiting new field agents, and ensuring
they have the appropriate training and
support for responsible enforcement is
essential. Hence why we see our relationship
with the CICM as so important.”
Sue Chapple FCICM CEO says she is
delighted to be working more closely
with CIVEA: “Through our long-term
relationship with the HCEOA we have always
been closely associated with driving up
professional standards in enforcement,” she
says. “Having this endorsement from CIVEA,
and all that it is trying to achieve, is a signal
of the importance of enforcement as part of
the credit lifecycle, and the support we can
provide to individuals as CICM members to
keep their knowledge and skills up-to-date.”
Included with the CICM package is
ongoing CPD and mentoring support, giving
enforcement officers access to very highquality
training materials and coaching
where required.
SmartSearch makes FT list of fast-growing
European firms
“It is very much a
reflection of our
business performance
last year as 2020
was a record year for
SmartSearch’’
LEADING anti-money-laundering (AML)
firm SmartSearch has made the latest
Financial Times’ annual list of the fastestgrowing
European companies for the third
year running.
The FT 1000 lists the European companies
that have achieved the highest compound
annual growth in revenue rate from 2016
to 2019. SmartSearch is ranked at 700, off
the back of an absolute growth rate of more
than 200 percent across the period.
According to the FT, Europe’s high-growth
companies are facing another year of slower
progress as the pandemic continues to limit
business activity in 2021. This is reflected
in the qualifying compound annual growth
rate for the list, which was 35.5 percent
this year, slightly lower than last year’s
38.4 percent. However, SmartSearch’s
achievement as a fintech firm is mirrored in
the wider list as technology firms dominate
the rankings with a total of 290.
James Dobson, Marketing Director
at SmartSearch says this is a fantastic
achievement for SmartSearch and its staff:
“It is very much a reflection of our business
performance last year as 2020 was a record
year for SmartSearch, driven in part by
the demand for our solution in light of the
Coronavirus outbreak, which of course
dominated everything.
“But in our sector particularly, the need
for protection against criminals taking
advantage of the gaps that opened up
in customer onboarding security and ID
verification, was acute.”
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 5

FOLLOWING on from his previous
article, French Exchange (page 43
of CM Jan/Feb 2021 edition), Pierre
Haincourt MCICM has advised of a
further important development.
On 11 February 2021, the French
Justice Minister (Le Garde des Sceaux
as Pierre likes to call him. Ed), indicated,
before the Laws Committee of the National
Assembly, that France would oppose the
UK's entry into the Lugano Convention. (A
transcript of the Minister’s speech will be
published on the Credit Limits International
website.)
Essentially, the French Justice Minister
openly stated that his position was aimed at
protecting the jurisdiction of the International
Chamber of the Commercial Court of Paris
– and this will certainly help it achieve
its objective of becoming the European
jurisdiction of choice for cross-border
litigation.
“So, after 1,000 years of annoying the
French (that’s the title of a book by Stephen
NEWS ROUNDUP
French start a ‘war’
over jurisdictions
“So, after 1000
years of annoying
the French (that’s
the title of a
book by Stephen
Clarke), it looks
like the English
will finally be
punished for their
arrogance of these
past centuries as
France has just
started a war over
jurisdictions.”
Clarke), it looks like the English will finally
be punished for their arrogance of these past
centuries as France has just started a war
over jurisdictions,” Pierre says.
“Whilst this new Court is already praising
itself for its extreme efficiency and low
cost, you have to wonder whether such
protectionist measures are really necessary,
or if the French may have something else to
hide.”
Pierre thinks, however, that maybe this is
nothing more than a bit of post-Brexit Latin
posturing: “As you may have noticed before,
my compatriots are well-known for changing
their minds every time the wind changes
direction, so hopefully, posturing is all that
this is.
“Accession to the Lugano Convention
requires unanimous consent from all its
signatories and if France was to veto the
UK application, this status quo would have
disastrous consequences for all EU and
British exporters. Time for the EU to have a
rethink?”
WhatsApp? Plenty!
THE Money Advice Service (MAS) has
issued a warning about scam WhatsApp
messages purporting to be sent from
them. In these messages, it is claimed
that following a recent conversation
with a debt adviser, it is likely the
recipient’s application to have some of
their debt written off will be approved. In
order to process this, they ask for recent
bank statements, payslips, ID and any
letters from creditors.
The Money Advice Service request
that any scam messages using their
logo are reported to them via scams@
maps.org.uk.
Fraud Injection
BRITONS continue to be targeted by
criminals seeking to exploit the Covid-19
vaccine by creating phishing websites
designed to appear as legitimate NHS
websites. Recipients are sent a message
asking them to accept an invitation to
receive their vaccination, which directs
them to a phishing website asking for
details such as name, address, mobile
number, mother’s maiden name and
bank details. The Covid-19 vaccination
is free of charge and the NHS has
confirmed they will never ask for bank or
card details to take payment or validate
a customer’s identity.
Dining out
THE consumer champion organisation
Which? has received reports of emails
claiming to be from Just Eat, the online
delivery service, offering a £50 gift card
for their service. The email address used
to send this scam has spoofed the justeat.com
domain in an attempt to appear
legitimate. Which? is warning that those
who attempt to claim the voucher will
certainly be directed to a phishing website
which will attempt to steal information.
Just Eat has also confirmed they will
never send an email asking a customer
to follow a link and fill in their personal
details in order to receive a voucher.
Former CSA Chief Honoured with Fellowship
PETER Wallwork FCICM, former Chief
Executive of the Credit Services
Association (CSA), has been appointed
an Honorary Fellow of the Chartered
Institute of Credit Management
(FCICM).
Sue Chapple FCICM, CICM CEO,
says that Peter’s contribution to
the credit industry deserved wider
recognition: “Honorary Fellowships
are awarded to those who have made
a significant contribution to our
industry and are in the gift of the CICM
Executive Board. We are delighted to
recognise Peter
as a true thought leader who has shown
the highest standards of excellence in
advancing our profession.”
Peter told Credit Management that
he was delighted to have been
elevated to FCICM: “One of the
tasks I had on my list of things
to do when I left the CSA
was to apply to the Institute
to become a Fellow. It was
something I had started to do
on more than one occasion
over the last few years,
but never quite managed to get the
time to complete. Imagine then my
surprise and delight when I received
a letter from Sue Chapple, offering
me an Honorary Fellowship, pretty
much exactly 20 years after I joined
the Institute in the first place. I wrote
back immediately to say, I'd be
delighted, yes please, and what an
honour.”
The editorial team at Credit
Management would also like to
extened their congratulations on a
most deserved award.
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 6

NEWS ROUNDUP
Appetite for homeworking has
increased since pandemic
HOMEWORKING will be
one of the major and
lasting outcomes of the
COVID-19 pandemic,
a Cardiff University
academic predicts.
Professor Alan Felstead was
commissioned by the Senedd’s Economy,
Infrastructure and Skills Committee to
compile a report for their inquiry into
remote working.
His findings have fed into their
concluding report, which has come up
with a series of recommendations for
the Welsh Government as it develops its
remote working policy. Last year, it set a
long-term target that 30 percent of Welsh
workers would be working from home or
near to home in the future.
Professor Felstead’s most recent
analysis of data from the UK-wide
Understanding Society COVID-19 Study
shows the appetite for working at home
has increased over time. Nine out of ten
(88 percent) employees who worked at
home in June 2020 reported that they
would like to continue working at home in
some capacity. The same question asked
in September 2020 showed a rise to 93
percent.
Two-fifths (41 percent) of homeworkers
reported in June 2020 that they were able
to get as much work done as they had six
months earlier and more than quarter
(29 percent) said they got more done.
The September 2020 data suggests that
85 percent of employees who continued
to work at home were just as productive,
if not more, than they were before the
pandemic. The equivalent figure in June
2020 was 70 percent.
CSA ratifies appointment of two
non-executive directors at AGM
THE Credit Services Association, the trade
association for the debt collection industry,
has confirmed the appointment of two new
non-executive directors to its Board: James
Appleby from Arrow Global and Kathryn
Morgan of Lowell Financial.
Both new directors have extensive
experience in the financial services sector:
James is currently Managing Director
Northern Europe of Arrow Global Group and
has held senior positions within Barclays
Bank, Chetwood Bank, and Vanquis
Bank; Kathryn has held similar senior
executive roles with the NatWest Group and
Virgin Money and is presently Customer
Operations Director for Lowell Financial.
But the report also shows homeworkers
found it more difficult to reconcile home
and work life, were working longer
hours than they used to, and were more
frequently feeling drained and isolated.
Professor Alan Felstead, based at Cardiff
University's School of Social Sciences,
says Coronavirus will have a long-lasting
effect on the way we work: “Even when
social restrictions are fully lifted, it is
unlikely there will be a full return to
the traditional office setting. Instead,
the last twelve months has revealed a
strong appetite for homeworking among
employees and has proved to employers
that flexible working can bring business
benefits.
“However, these changes are not going
to be straightforward. We will need to
rethink and reimage our notions of home
and work, the nature of our towns and
cities, and assess whether our transport
and telecommunications infrastructure is
fit for purpose.”
Tom Chandos, CSA Chair of the Board,
welcomed the new members and thanked
the former CSA Board directors for their
service: “In welcoming Kathryn and James
as new non-executive directors to the CSA,
I want to pay tribute to David Sheridan, Dr
David Hutchinson and Stewart Hamilton
for their time and service as they leave the
Association Board. As the trade body for
the collections and debt purchase sector
we are fortunate to have such a breadth
of representation to ensure that we can
promote excellence in standards and
culture across the industry, share best
practice and make our voice heard across
stakeholders and policy-makers.”
>NEWS
IN BRIEF
Saving Grace
THE Bank of England’s Money and
Credit report showed that £18.5bn was
put into savings accounts in January,
almost four times the average monthly
deposit figure before the pandemic.
Savings rates have remained at
historical lows. Some of this cash may
have been from £3.5bn of withdrawals
from National Savings and Investment
(NS&I) accounts in January, after NS&I
cut rates across its range of savings
accounts. NS&I deposits are not
counted as ‘household deposits’ in the
Money and Credit report but can be
an alternative home for consumers’
savings. As well as contributing to
savings, people also paid down debts
in January, with individuals making
net repayments of £2.4bn. Most of
this was repaid on credit cards, with
the balance repaid on other forms of
consumer credit.
Climbing the ladder
THE CICM Wessex Branch is looking
forward to welcoming delegates to
a late afternoon online event with
Debbie Nolan FCICM, the Chair of
the Executive Board of the CICM, in
association with Creative Huddle.
Brenda Linger FCICM, CICM Vice
President Branch Chair, says there
is very little Debbie has not seen
spanning thousands of customers and
situations: “Debbie has seen much
change over her 35-year career, so
please do join us, benefit from her
experience, and glean her predictions
for the future changes and challenges
credit professionals are likely to
encounter.”
The event is taking place at 4:30pm on
Wednesday 12 May. For details go to https://
www.cicm.com/event/climbing-creditcareer-ladder-insights-debbie-nolan/
Allica performance
ALLICA Bank has published figures to
show it has supported SMEs across
the UK with £71m of completed loans
and a further c.£120m of committed
lending offers currently in the
process of completion. The majority
(85 percent) of this lending is to
businesses outside of London. The
bank says it is on track to complete
as much lending in the first quarter
of 2021, as in the whole of 2020, and
anticipates it will make over £500m in
committed lending offers in 2021.
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 7

NEWS SPECIAL
Comic Relief?
The impact the forthcoming Debt Relief Scheme
will have on creditors is no laughing matter.
AUTHORS – Philip Roberts FCICM
THE new Government scheme
which aims to help people
experiencing difficulties with
debt is coming into force on
4 May 2021. These are very
important changes and are
another positive step towards encouraging
individuals who are experiencing difficulty
with debt to seek help from the debt advice
sector. The changes are comprehensive
and will require creditors affected by the
scheme (and their agents) to implement
robust controls to ensure compliance.
The scheme gives individuals
who are experiencing
difficulties with debt, access to
a 60-day standard breathing
space from creditor action to
recover debts incurred.
SO WHAT IS IT EXACTLY?
Save for some limited exceptions, the Debt
Respite Scheme (Breathing Space) will
apply to debts owed by individuals, unless
they have been incurred in connection with
a VAT registered business or a partnership.
The scheme gives individuals who are
experiencing difficulties with debt, and who
actively seek advice from an authorised
debt advisor, access to a 60-day standard
breathing space from creditor action to
recover debts incurred. The scheme also
provides protection to individuals who are
receiving mental health crisis treatment.
The protection will last for as long as that
crisis treatment lasts plus a further 30 days
thereafter.
Throughout the breathing space, creditors
will be prevented from applying fees,
penalties, charges and interest on eligible
debts subject to the breathing space.
Creditors will not be able to contact a
debtor about the collection or enforcement
of a breathing space debt (unless required
to do so under the Consumer Credit Act
1974 or by the FCA Handbook) and must
suspend enforcement action during the
breathing space. Enforcement action
is comprehensively defined within the
regulations but includes starting any action
or legal proceedings (including bankruptcy
petitions), obtaining a writ or warrant,
serving certain notices for possession,
enforcing security on a breathing space
debt or making an application for default
Judgement.
Once an individual’s breathing space has
ended, they cannot be granted a further
standard breathing space for a period of
12 months. They can still enter a mental
health crisis breathing space.
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 8

NEWS SPECIAL
HOW DOES IT WORK?
Under the scheme, breathing space
can only be started by an authorised
debt advice provider. Authorised
debt advisors will administer the
breathing space and will be the point
of contact for the debtors, creditors and
the creditors’ appointed agents. The
Insolvency Service will maintain the
electronic service that will be used to
keep a register of the breathing space
and will send notifications to creditors.
The register is not open to the public
(unlike the bankruptcy and insolvency
register).
The moratorium on taking action and
applying fees, penalties and interest
on breathing space debts can come
at any stage of a recovery action.
Once authorised by the debt advisor,
the breathing space will start the day
after the details are recorded on the
register. At this time creditors (and/or
their agents) will be notified either by
electronic communication or post.
The onus is then on the creditor
or their agent to ensure that the
protections are observed throughout
the breathing space. If at this time
additional debts are located other than
those subject to the breathing space, the
creditor must notify the Debt Advisor.
Where a court or tribunal is already
involved, this will include sending them
written notification so that appropriate
measures can be implemented. A court
or tribunal that receives notification of
the breathing space after a bankruptcy
petition has been started must stay
those proceedings until the end of the
breathing space. Other proceedings
about the debt (other than the
enforcement of court judgments or
orders) can continue until the court or
tribunal makes an order or judgment.
There are certain debts including
mortgages, rent, taxes and utilities
that are classed as ongoing liabilities.
The guidance says that the debtor is
required to pay these where they can,
except for any arrears that are captured
within the breathing space. If these
ongoing debts are not paid, and where
the debt advisor thinks it is fair and
reasonable, there is a possibility that
the breathing space will be cancelled.
However, this does not appear to include
a mental health crisis breathing space.
During a standard breathing space
(i.e. not including a mental health crisis
breathing space) the debt advisor must
carry out a midway review to make
sure the debtor is complying with their
obligations no later than 35 days into
the breathing space.
It is worth noting that, in appropriate
circumstances, which include a creditor
being unfairly prejudiced by the
moratorium, the creditor can request
a review from the debt advisor or, if
necessary, from the court. The initial
request for a review must be made
within 20 days and should be supported
by evidence. The creditor can also apply
for permission from the court to take
enforcement action where prevented
from doing so by the moratorium.
IMPACT ON CREDITORS
There is much to think about for
creditors affected by the regulations.
The regulations are comprehensive, and
it is important that affected creditors
understand them. There is great deal
to prepare so that robust measures are
implemented to ensure compliance.
This is going to include
understanding which debts are eligible
and recording details of the breathing
space so that appropriate controls are in
place and debts are not inappropriately
pursued. Creditors should set up
processes to ensure all incoming
breathing space notifications (whether
electronic or by post) are recorded
without delay.
Effective communication between
creditors, agents and the court will be
crucial to ensure that unnecessary and
unrecoverable costs are not incurred. If
creditors fail to apply breathing space
protections, any action taken will
be void and they may become liable
for the debtor’s costs. The impact on
creditors will depend on the nature of
their business and their ability to absorb
delays in receiving payment.
Although there will no doubt be
some challenges with implementation,
this further encouragement for
individuals struggling with debt to seek
help from the money advice sector is a
positive step.
We are working with creditors to
put in place procedures to effectively
comply with the regulations and to
maximise prospects of making fair and
ethical recoveries.
Clarke Willmott is a national law
firm with offices in Birmingham,
Bristol, Cardiff, London, Manchester,
Southampton and Taunton. It has an
industry leading team of debt recovery
lawyers. Operating for over 25 years, the
team acts for organisations of all sizes.
www.clarkewillmott.com
Philip Roberts FCICM, Partner at Clarke
Willmott LLP is a member of the CICM
Think Tank.
>NEWS
IN BRIEF
Meritorious Service
THE Executive Board of Trustees
unanimously agreed at its recent
meeting, to award the 2021 Meritorious
Service Award to Jane Abramson
MCICM and Kim Delaney-Bowen
MCICM. Congratulations to Jane and
Kim, true unsung heroes for their
service to the Institute and the wider
credit community. The formal award
presentations will take place later
this year, and will be covered in CM
magazine.
Turner Lecture
THE famous Turner Lecture, organised
by the Kent Branch, will go ahead later
in the year, despite the challenges of
COVID. Strongly supported by CICM
CEO Sue Chapple, and sponsorship
from the HCEO Association, Global
Recoveries, Henderson Chambers
and T G Baynes, the event will
include speakers from the world
of debt collection, insolvency, and
enforcement. It is hoped that Professor
Turner, former CICM President, will
be there in person, assuming it is safe
to do so. A date has been pencilled in
for 3 December, but early booking is
encouraged. For more details, contact
Becki.Sharpe@cicm.com
Open Borders Direct
CICM has agreed a three-month
Helpline access for any member who
is struggling to make heads or tails
of the paperwork or processes in
importing or exporting. It is hosted on
www.openborders.direct and under
the ‘SuperSearch’ where members will
be guided by an AI Robot. Further help
is available through an ‘Ask an Expert’
feature – free of charge – providing
direct access to a team of Open
Borders Direct experts.
Lesley Batchelor, the brains behind
the new platform, says the intention is
to solve any international trade related
problem: “When you ‘Ask an Expert’
we’ll ask you some pre-set questions
about the Harmonised Tariff Code and
any forms that are part of the problem
to help OBD to provide a speedy
response. The team at Open Borders
Direct are committed to finding an
answer for you; all you have to do is
sign up using the Trade Association
dropdown to take advantage of your 3
months free subscription – no credit
card details are needed to access this
offer.”
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 9

Advancing the credit profession / www.cicm.com / April 2021 / PAGE 10

FROM THE CHIEF EXECUTIVE
Bridge of Sighs
The relief as we cross to a more
‘normal world' is palpable.
AUTHOR – Sue Chapple FCICM
Sue Chapple FCICM
AS news of the easing of
lockdown is announced and
children are heading back
into schools, a collective sigh
of relief can be heard across
businesses throughout the
UK. There is a sense of ‘normal service’ being
resumed after a lengthy and most unwelcome
intermission.
In the last 12 months the Institute has
necessarily had to put some of its longer-term
plans in abeyance while it focuses on the
here and now and supporting its members
and the wider business community through
the pandemic. But that does not mean that
the strategy we have been developing has
been shelved; it simply means that tactical
expediency has been the order of the day.
Now, however, I get the sense that we are
on a new trajectory, an opportunity to return
with vigour to a roadmap of our own and a
five-year plan to transform the CICM into the
organisation it needs to be to meet the demands
of future generations of credit professionals.
As such you will begin to see a number
of changes in our HQ team, including the
appointment of a Transformational Operations
Lead to oversee our operational process and
efficiency, and a senior credit manager to be
directly responsible for managing our various
partner relationships – our Corporate Partners
and CICMQ accredited businesses, for example
– and ensuring they are better informed of the
huge range of training and support services we
can provide through our highly-experienced
Learning & Development team. We will also be
concluding the sale of The Water Mill, giving
us the opportunity to start afresh in new
offices with more open space better suited to
our needs going forward.
The last 12 months have been busy for our
members too. One of the few positives to come
from the pandemic has been how it has once
again made businesses focus on the cash,
and therefore the importance of professional
cashflow management. It has accelerated the
introduction of new technology and processes
to support the credit management teams that
might previously have taken many years to
introduce.
At the moment, according to the
recruitment specialists, credit teams have not
been too badly impacted by way of job losses
or redundancies though we are not through the
woods yet. It is not clear whether the ‘Tsunami’
of business failures that have been predicted
for the future will actually come about in the
volumes anticipated, but there are bound to
be some upsets along the way, and we must be
ready for them.
We must also be ready for other challenges
heading rapidly in our direction, including the
change in rules regarding Breathing Space and
the much anticipated and largely unwelcome
re-introduction of Crown Preference. Every
business that fails inevitably owes money
to HMRC, and if Her Majesty’s Revenue and
Customs office is to take priority over all other
creditors, I worry how that will impact lending
and the future availability of credit. Lending
decisions are based on risk, and there needs
to be a reasonable expectation that a loan
that defaults can be recovered. Some lenders
might understandably reduce the credit they
are prepared to extend, just at the point that
the country is crying out for liquidity. I worry
also about how it will impact the insolvency
profession, and the vital role that Insolvency
Practitioners play in the business and credit
lifecycle.
These are issues, perhaps, for another day,
although that day is fast approaching. Getting
through the next few weeks is my immediate
priority, when I will reveal more specific plans
for your Institute and the support we will be
providing to ensure we remain ‘fit for purpose’
for the foreseeable future and beyond.
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 11

OPINION
NEVER NEVER LAND
Buy Now Pay Later regulation offers lenders
a chance to re-assess their customers.
AUTHOR – Aneesh Varma
IF you’re involved in credit, you’ll have now had a
chance to digest The Woolard Review. A clear win for
the consumer, BNPL lenders must now prepare for
FCA regulation by proving their ability to accurately
assess a customer’s affordability.
Anticipated by many, the timing of the report is
right. While the wider conversation may now have shifted
towards recovery and renewal, the economic impact of
COVID-19 will continue to bite for many for a while longer.
Against this backdrop, a fairer, more robust assessment of
an individual’s true affordability as they take out new credit
is correct.
For the credit industry, we must not forget that our work
is judged not by the freedom we offer to consumers through
access to credit, but crucially in making sure it comes back.
This new regulation is a welcome reminder to us of the need,
at every level of credit, to understand the real-time situation
of the consumer. However short-term or low value that loan,
however it’s advertised and whoever it targets, fundamentally
that promise remains the same.
With five million of us spending £2.7bn using the service
since the pandemic began, few payment methods have
experienced such exponential growth as BNPL. In a year that
has kept us at home, the convenience and flexibility it offers
consumers has more than trebled demand. And this growth
isn’t just confined to the UK: across the world, the popularity
for BNPL continues to trend upwards.
YOUNGER CUSTOMERS
BNPL customers are younger than those typically taking on
credit (a quarter are under 24 years old) and three quarters
are female. The average transaction value is £70, with fashion
and footwear the most popular purchase categories. But
some are making more substantial purchases, using BNPL
to book holidays or for more expensive items for the home –
spreading the cost over time to create manageable payments
(either monthly or split into parts) in place of the upfront
cost.
Yet alongside such ease and flexibility, comes compromise.
And we’ve heard instances this year of some of that pain.
Two fifths of Christmas shoppers revealed their concern
at the start of the year in their ability to repay. Stories have
emerged of consumers accidentally using BNPL at checkout,
of not receiving notifications when they’ve missed a payment
and even of being incentivised to use it in exchange for a
charity donation. Quite rightly, instances that began to raise
red flags with the regulator.
As a sector, the response to The Woolard Review has been
unanimously positive. Many lenders provided submissions
in an attempt to frame the narrative that would follow. In
its levelling out of the industry, traditional lenders who
offer store cards to their customers but have been subject
to stricter regulation have also breathed a sigh of relief at
the report’s publication. With all lenders now being asked
to adhere to the same principles, the playing field has begun
to level.
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 12

OPINION
AUTHOR – Aneesh Varma
The impact of these changes is being seen
internationally, most recently in Australia,
where the AFIA have confirmed their
intention to launch a BNPL ‘Code of Conduct’
to better regulate the sector by ensuring
a minimum standard is met across the
industry. Once again, where UK regulation
leads, others follow.
CONSUMER BENEFITS
Yet amid the noise of the lending community,
it’s important we remember the intended
beneficiary here: the consumer. Few
BNPL customers today will be aware of the
planned changes to how this new service
that has shifted their shopping habits
so much in recent years is set to evolve.
Regulatory intention or sector enthusiasm
doesn’t protect consumers. It doesn’t stop
people from taking on unaffordable debt and
spiralling into financial difficulty. So what
now?
BNPL customers are
younger than those typically
taking on credit (a quarter
are under 24 years old) and
three quarters are female.
The average transaction
value is £70, with fashion and
footwear the most popular
purchase categories.
For BNPL lenders, attention now turns
to implementation. With the FCA making
it clear that they won’t be providing a
prescriptive approach, the responsibility will
come down to each lender to interpret the
rules appropriately.
The implementation of affordability
checks for any lender requires a difficult
dance between friction, accuracy and cost
– the achievement of one likely to be at the
cost of either of the others. But for BNPL
lenders, the compromise is likely to be even
more pronounced. With exceptional user
experience key to the growth of these brands
to date, affordability checks will need to be
as smooth as these companies’ advertising.
BNPL providers are unlikely to be anything
but exacting.
We refer to this balance in credit as
‘thoughtful friction’. To meet the needs of
today's consumer, affordability assessments
must be seamless and intuitive. Information
must be gathered dynamically from the
consumer and in real-time. Anything less isn’t
good enough. We must allow the consumer
to represent themselves fairly in the process
and to be heard. That is the responsible thing
to do. Yet more fundamental than consumer
experience, at the heart of the issue sits the
data. Stressed in the detail of The Woolard
Review is the importance, for both lenders
and for the public, of timely access to high
quality credit information. Confidence in the
‘big three’ in providing this is in doubt. BNPL
lenders have stated already that the rate of
change will be driven by the speed at which
the traditional credit bureau can help, with
legacy infrastructure cited as a significant
blocker. Slow pace and legacy systems will,
Klarna has made clear, hamper their ability
to reform. The timeline for implementation,
says Klarna, rests with the bureau.
TIME TO ACT
But BNPL lenders must act. And with it,
the opportunity for lenders in assessing
alternative, more nimble options to better
stand up to the regulation sharpens. Once
again, the importance of the individual in
improving their own credit story builds. If
the traditional credit bureau can’t help fast
enough, it’s time for lenders to consider the
fintechs that can.
This new regulation also provides lenders
with the opportunity to rethink their
engagement and relationships with their
customers. Post-pandemic recovery will take
time. Lenders must rebuild their confidence,
in accordance with this new regulation. How
can they do this? With real-time affordability
solutions that return the consumer to the
heart of their own credit story.
Once again, the regulator has caught up with
the innovation. It’s now up to all of us to make
sure that the true winners of this outcome
remain the consumer. And if lenders can take
time to understand who their customers are
now, we all stand to benefit from fairer, more
personalised, more affordable credit in the
future.
Aneesh Varma is Founder and
CEO of credit fintech, Aire.
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 13

ENFORCEMENT
NEVER
SATISFIED?
Judgments can often become
worthless pieces of paper if they
cannot be enforced effectively.
AUTHOR – Neil Jinks FCICM IRRV
THE latest figures from the Registry
Trust in relation to County Court
Judgments in 2020 suggest that
numbers registered against both
businesses and consumers are
falling.
The average values, however, are rising,
quite significantly, and the numbers are
far from uniform. The very low proportions
of judgments marked as ‘satisfied’ also
suggest a major problem is just around the
corner.
BUSINESS CCJ’S
The number of CCJ’s registered against
businesses in England and Wales fell 39 percent
from 126,731 in 2019 to 77,139 in 2020.
The total value of CCJ debt owed by
businesses fell by nearly 20 percent, from just
under £401m to £322m. The average value of
business debt rose to £4,178 in 2020, 32 percent
higher than the £3,162 seen in 2019. The median
value rose by 43 percent from £1,038 to £1,485
over the period.
The number of judgments against larger
incorporated businesses fell by 41 percent, from
94,389 in 2019 to 55,537 in 2020. The total value
of judgments fell by much less, 16 percent, from
£305m to £255m. As a result, the average value
rose by 42 percent from £3,226 to £4,588, with
the median value up 73 percent from £925 to
£1,602.
The number of CCJs against smaller
unincorporated businesses fell by 33 percent,
from 32,342 to 21,602, with the total value
dropping from £96m to over £67m, down 30
percent. The average value rose from £2,973
to £3,123, up just over five percent, while the
median value rose by just under three percent
from £1,245 to £1,280.
The number of business judgments
marked as ‘satisfied’ in 2020 was 11,940,
a fall of 13 percent from the 13,723 in
2019. As the number of judgments registered
in 2020 was lower than in 2019, the
proportion of judgments marked as satisfied
has risen, though it remains low at 10.8
percent.
CONSUMER CCJ’S
The number of CCJ’s issued against consumers
in England and Wales in 2020 fell by 45 percent
compared to 2019, from 1,146,475 to 626,775.
The total value of CCJs registered in 2020
fell by 34 percent to £1.1bn, down from £1.7bn
in 2019. The average value of judgments rose
significantly by over 20 percent from £1,508 to
£1,813. The median value also rose from £673
to £787, an increase of nearly 17 percent. So,
over the year, there were fewer but larger value
judgments issued.
It is worth noting that the number of CCJ’s
taken out against consumers in the last quarter
of 2020 was 73 percent higher than in the third
quarter of 2020, suggesting numbers are rising
sharply again. I believe we will see numbers
continue to increase over the coming months.
The number of judgments marked as
‘satisfied’ in 2020 was 186,223, a fall of over six
percent from the 198,958 in 2019. As the number
of judgments registered in 2020 was lower than
in 2019, the proportion of judgments marked
as satisfied has risen but it remains very low at
21.7 percent.
Registry Trust Chair, Mick McAteer, said
of the figures: “Government and regulator
interventions, and forbearance by creditors,
in response to the COVID-19 crisis clearly
protected households during most of 2020.
“But, as we feared, the numbers of CCJ’s rose
sharply in the last quarter of 2020 as the damage
to household finances by the economic crisis
worked through the system. The fact that the
number of judgments marked as satisfied fell
is a real cause for concern as it could adversely
affect households’ future access to affordable
credit.”
WORTHLESS PAPER
Judgments can often become worthless pieces
of paper if they cannot be enforced effectively.
Practitioners report that the performance of the
County Court Bailiff Service is often very poor,
and the situation has deteriorated further with
the introduction of the Warrants of Control
Support Centres – a service that has diluted
service even further and some would suggest is
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 14

ENFORCEMENT
AUTHOR – Neil Jinks FCICM IRRV
almost tantamount to an admission of defeat.
It is essential that more enforcement is opened
up to the private sector to provide all creditors
with access to justice, subject to the appropriate
safeguards of course to deal with any legitimate
concerns that there may be. Effective
enforcement of judgments is an essential part of
any justice system yet currently the only option
for many creditors are county court bailiffs.
Other commentators suggest an overhaul of
the process to manage the transferring of a CCJ
up to the High Court for enforcement to make
that a digital process rather than being paper
driven.
THE PANDEMIC
The Pandemic is bound to result in a significant
backlog of CCJ’s that need to be enforced against
the debtor’s goods. It is a shame that despite the
CCUA lobbying for many years, the situation
remains unchanged and those creditors with
debts under £600 or regulated consumer credit
debts are still limited to instructing county court
bailiffs.
If all creditors had access to justice with
the ability to enforce through the High Court,
there is no doubt that we would most likely see
a significant increase in recoveries, which, is
much needed by creditors during such difficult
times.
Effective enforcement can make the
difference between solvency and insolvency for
businesses and can determine whether they can
continue to trade. On several occasions during
my career, I have seen one debt make or break
a company.
BEST PRACTICE
So what does best practice look like? Put simply,
do your homework:
• It is crucial to ‘Know your debtor’ and
information that you might capture at the
front end of a relationship with a customer, for
example, via a credit application form could
prove to be useful intelligence at the back end
when it becomes necessary to enforce against
them.
• In the current climate it also pays to be
mindful of vulnerability and how the debtor
might have been affected by the pandemic.
These considerations should extend to both
consumer and commercial debtors at this time.
If it is a commercial debtor, has the business
been affected by COVID-19 and is it still trading?
• Have you invoiced, sued, and obtained
judgment against the correct name? We are often
instructed to pursue the wrong legal entity if, for
example, the defendant is shown as a firm when
in fact it is a limited company, which, could
leave the judgment as defective and potentially
unenforceable without amendment.
Neil Jinks FCICM IRRV
“But, as we
feared, the
numbers of CCJ’s
rose sharply
in the last
quarter of 2020
as the damage
to household
finances by the
economic crisis
worked through
the system’’
• If it is a limited company, have you checked
that is still live, not insolvent or has it been
dissolved or struck off the record? We have
been directed to company premises which were
demolished many years ago.
• Is the debtor likely to have any assets or do you
know of any? For example, vehicle details or the
location of stock?
• Do you have the right and current address?
Bear in mind registered office address as well as
any trading addresses. I recommend supplying
your HCEO with all addresses that you know of.
• Pass on any additional information you have
about the debtor, for example, a photograph for
identification purposes, the best time to attend
if their business only opens between certain
hours. Bear in mind the type of business as
certain businesses such as pubs and restaurants
may not be opening at all.
• If the debtor contacts you directly once you
have issued a writ and seeks to make payment
or an arrangement with you directly, you must
refer them on to the HCEO to ensure that any
fees due are included. Otherwise, you could
become liable for the fees yourself.
• As we expect an increase in activity, I would
recommend issuing your writs sooner rather
than later. Act quickly as we face uncertain
times ahead so do not regret leaving it too late!
You are much more likely to collect your debts
if you pursue them expeditiously. Remember:
cash is king, but information is too!
Neil Jinks is Head of Client Development
& Communications at Court Enforcement
Services Ltd, a member of CICM’s Advisory
Council and President of the IRRV West
Midlands Association.
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 15

AFTER Brexit, the enforcement
of British judgments
throughout the EU is much
less complicated than
the Brussels Recast Regulation.
However, several
factors may alleviate many anticipated
difficulties in enforcement.
First of all, any judgments made in cases
belonging to the 2005 Hague Convention
must be recognised and enforced in other
contracting states, with limited exceptions.
Secondly, bilateral treaties on
enforcement of judgments between the UK
and France, UK and Germany, UK and Italy,
UK and the Netherlands, UK and Austria
and UK and Belgium, and other major EU
jurisdictions existed before Britain joined
the EU, but they are expected to play their
full role again after Brexit (provided they
were not annihilated by the UK being in the
EU and are still following the maxim pacta
sunt servanda, i.e. are still in force).
Third, given The City of London’s
(former) position as an important financial
centre (which should not be taken for
granted anymore, given the withdrawal of
EU passporting rights, and several other EU
restrictions on financial services as regard
third countries) some of the EU-registered
ENFORCEMENT
CROSSWORDS
The impact of Brexit on
cross-border enforcement – Part 2
AUTHOR – Dmytro Tupchiienko
Enforcing
English
judgment
During
transition
period
EU27
RBR
applied
EFTA
Lugano
applies
HAGUE
Hague
applied (if
applicable)
RoW 1
Domestic
law applies
The English courts
have more powerful
and aggressive tools
than any other EU
Member state.
* RoW 1 - Rest of the World
It was possible to
serve an English
court claim form in the
EU without the English
courts’ permission
under the provisions in
the CPR 6.33.
Grandfather
provisions
apply
After
transition
period
RBR
applied
Hague applied
(if applicable),
if not domestic
law
Lugano
applies
Domestic
law
Hague
applied (if
applicable)
Hague
applied (if
applicable)
Domestic
law applies
Domestic
law applies
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 16

ENFORCEMENT
AUTHOR – Dmytro Tupchiienko
Even if it is more difficult to enforce in other
EU member states, the British court's judgment
will still be of great value.
Financial Parties
defendants with significant assets in
the UK, including those with assets in
international banks with branches in
London, may find that these assets can
be used to repay the English judgment
debt. Even if it is more difficult to enforce
in other EU member states, the British
court's judgment will still be of great
value.
Finally, the English courts have more
powerful and aggressive tools than any
other EU Member state (for example,
through mandatory public orders to
obtain or extract useful information about
the location of assets) to help enforce
judgments.
TRANSITIONAL PROVISIONS
For the judgement which was given in
the process that began before the end
of the transition period (irrespective of
whether the issuing court was in the UK
or otherwise in the EU), the pre-Brexit
regime continued to apply. During that
period:
It was possible to serve an English court
claim form in the EU without the English
courts’ permission under the provisions
in the CPR 6.33.
Obligors
The mechanics of service of English
courts proceedings in the EU were
governed by the Service Regulation.
In other words, the judgement of
the English court (and other UK courts
e.g Scottish or Northern Irish) will be
enforced in the EU under the Recast
Brussels regulations and court judgements
in the EU member state will be able to be
enforced in the UK under that regime.
POST TRANSITION PERIOD
For the process beginning after the end
of the transition period, the enforcement
of the EU judgement in English courts
(and vice versa) will be regulated
by the relevant national rules of EU
Member States regarding enforcement
judgements made in third countries. One
consequence of new settings is that the
type of judgement that can be enforced
will become narrower in scope, especially
where Hague 2005 does not apply. Of
course, as far as the EU’s judgment
enforcement in the UK is concerned, the
procedure will be different too, and will
take longer, again, especially where Hague
2005 does not apply. That said, in non-
Hague situations, the process should be
no different from what happens when the
steps are taken to enforce the judgement
given by, for example, the New York court,
in accordance with the specified rules
that apply there.
Exclusive
Asymmetric
Financial Parties
Any other court
Financial Parties
English courts
English courts
Obligors
Obligors
JURISDICTION ISSUES
Brexit has unravelled certain clauses
which seem to be hidden or previously not
in existence. Such clauses are important
in dispute between parties and especially
when there are elements of cross-border
transaction. Jurisdiction clauses appear
in three different forms:
1. Exclusive: in this case, disputes are
subjected to courts of one jurisdiction.
2. Asymmetric: includes courts of one
jurisdiction and any other court
3. Non-exclusive: nominate the state
of the country to have jurisdiction but
without reducing the right parties to start
the process in other court jurisdictions, if
necessary.
Non-exclusive
Any other court
Any other court
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 17

DAWN RIDER
Is it time to get out there and into
the sunshine once again?
AUTHOR – David Andrews
But this is not the makeover
any of us anticipated. Now,
as we stumble gradually
from the fading waves of
end-game lockdown pulses,
the rebuilding will, we hope,
begin.
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 18

VIEW FROM THE SEAFRONT
AUTHOR – David Andrews
the country needs is
annihilation of the enemy,’
observed Lord Nelson in
the run up to the Battle of
‘WHAT
Trafalgar.
The great warrior
was of course referring principally to the French,
and I daresay many of us may have felt that some of
President Macron’s digs at our post-Brexit nation’s
fierce fightback against the pandemic were deserving
of a full canon broadside.
Pro tem, our outstanding vaccine rollout I would
imagine to be more than enough for senior politicians
on the European mainland to keep their less generous
views to themselves. When all is said and done, none
of us have had it easy. It is just that we have quietly
got on with rebuilding a devastated landscape and hey,
what a difference a few weeks can make.
When I cycled into the centre of Brighton in early
February, a harsh wintry westerly nipping at my
ankles, the effects of the past, horrendous 12 months
were clear. The doorway of travel firm Trailfinders had
become a temporary campsite for several homeless
people, who along with a couple of large dogs looked
to be – on balance at least – reasonably content with
their new pitch.
As the specialist shop is located on one of the city’s
busiest streets, and urban campsites are an unusual
site even in the depths of a pandemic, the brightly
coloured tent and scattered detritus seemed to me yet
another ironic metaphor for our ravaged economy. An
erstwhile thriving holiday company, grounded like all
of us for the best part of a year, now hosting a nomadic
troupe, also going nowhere, but calling it home for the
time being at least.
POST-APOCALYPTIC VIEW
Brighton, a city, looking ‘perennially as if it is helping
the police with their enquiries’ as the late Keith
Waterhouse memorably put it, had rarely looked
so bleak, even in the 40 or so years I have lived
here. Resembling more an out-take from the movie
adaptation of Cormac McCarthy’s The Road, the postapocalyptic
effect of rows of shuttered and long since
closed-down shops fronts has effectively nuked the
inner city.
We all know ‘the UK High Street’, as it were, was in
trouble long before the pandemic set about banging
the final nails into the coffin, and our erstwhile
homogeneous, frankly unattractive town and city
centres were long overdue a makeover.
Even without the negligence of major retail
conglomerates, which have collectively presided over
shocking periods of decay and under-investment,
the High Street was on a hiding to nothing. A serious
rethink was long overdue.
But this is not the makeover any of us anticipated.
Now, as we stumble gradually from the fading waves
of end-game lockdown pulses, the rebuilding will, we
hope, begin.
I think back to my arrival in the city, in the
autumn of 1979, when the UK was in the grip of an
appalling recession. Small businesses were closing
left, right and centre, new building had ground to a
halt, manufacturing production was in freefall, youth
unemployment was soaring. The chances of finding
a job – any job – were low. And the winter of ‘79/’80,
when we still seemed to have proper seasons, was
freezing. Bleak.
There were no huge handouts to be anticipated
from Government, it was exceedingly difficult to
claim unemployment benefit, and prospects for
any youngsters not training for one of the main
professions were extremely poor. But, as we always
do, we recovered. Bearing in mind that all recessions
are cyclical, the 1980s were powered initially by
what became known as the Lawson Boom, after the
Chancellor of the day, Nigel Lawson.
As anyone who had a mortgage in those days may
recall however, borrowing rates were driven up to
giddying heights – up to 15 percent at the peak in 1989.
Now that was fine if you owned your property outright
and had money in the bank. You were laughing. But
for most homebuyers, it was an economic disaster.
Many, facing impending bankruptcy, hoisted the white
flag and posted the keys to their homes back to their
lenders.
BOOM-AND-BUST
It is all a long, long time ago. But post-war capitalism
has always moved in boom-and-bust cycles. In other
words, as we emerge blinking into the watery Spring
sunshine, we will get back to what we once regarded
as ‘normal’.
As Mohammed Ali said following his brutal,
bruising encounter with Ken Norton, a far lower
ranked journeyman heavyweight: ‘Man that fella hit
me hard – but I will be back. I will be back stronger. I
will be back punching mean. And I will be back even
better looking than I am now.’
AND WE WILL BE BACK.
As our astonishing vaccine rollout has demonstrated,
we are a brilliantly capable nation, clever and
resourceful. We have shown that we can still lead the
world in our enterprise and industrial and intellectual
might, and while (whisper it) the French and Germans
have been scratching their heads, looking across the
Channel and wondering how they have been left so far
behind, our new dawn is now a reality.
I know that one day – and it will not be too long now
– we will be shuffling along on that interminable line,
waiting to board an airliner, to whisk us off to some
exotic beach or city. I know that the blokes who have
set up camp in the generously proportioned doorway
of Trailfinders will be obliged to take down their tent,
while one of the few viable businesses on our High
Streets once again fires up its systems and looks for
the best deals for a vacation-starved population.
And I know that my local pub will be back, busier
than ever. Those of us who have perhaps been more
fortunate than our peers in the uneven hand dealt by
the pandemic may well feel it incumbent upon them
to spread the love. Spend, and then maybe spend a bit
more. Because the gloom of the winter of 2020/21 is
now behind us.
It is time to get out there and into the sunshine once
again.
David Andrews is a freelance journalist.
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 19

CONSUMER CREDIT
SNAP JUDGMENT
Individual Voluntary Arrangements are
broken but can be repaired.
AUTHOR – Peter Wallwork FCICM
I
think I can look back with a sense of
satisfaction when I think of the work
we did whilst I was CEO of the trade
association for the debt collection
industry: those that were kind enough to
say, talked of us changing the face and
perception of the debt collection industry, very
much for the better.
When I stood down from the role at the end
of July 2020, mid-way through the pandemic,
jovially rebuking those who wished me a ‘happy
retirement’, I found myself with some time to
reflect and decide what to do next. I certainly
felt that I wanted to continue with a formula of
improving the way the industry works, for both
the businesses that operate in it and crucially, the
consumer in debt.
Enter Louise Yates, a long-time campaigner
for good in the insolvency world, founder of The
Insolvency Panel and co-Founder and CEO of
a new company, Trustfolio, and suddenly I was
interested in what we could do to change the
way Individual Voluntary Arrangements (IVAs)
are run.
DANGEROUS ASSUMPTIONS
Don’t get me wrong, at the Credit Services
Association (CSA), IVAs were always on the radar
but not really on the agenda, so I had some
learning to do and I was surprised at what I saw.
Possibly the biggest thing I realised was how
little those away from the coalface (including
me) actually knew about IVAs and how that lack
of understanding, especially when considering
how to correct what is perceived to be wrong, is
potentially quite dangerous.
I’ve heard all kinds of horror stories about
the way in which various parties in the industry
have operated over the years; how the current
regulatory regime has been criticised for finding
it difficult to be effective. I’ve heard the headline
criticism from those that deal with the fall-out
customers in debt experience when IVAs fail.
Chris Woolard in his Review for the FCA,
listened to inputs given by consumer advocates
and creditors who declared that the IVA market
is broken. He recommended that regulators, with
support from Government, should act swiftly to
remedy the issues created by the fee structures
and that they should collaborate more in the
longer term.
However, simply declaring very bluntly that
something is broken, tends to suggest that things
are so bad, they are beyond repair. Whilst I’ve not
suddenly turned into an evangelist for IVAs per se,
I’d like to question that.
Sure, I can see regulatory gaps where it isn’t 100
percent clear who is responsible for a particular
part of the process and which regulator should be
keeping an eye on it. I can see also how each player
in the process is commercially driven to pushing
an IVA through. And I can see the alarmingly
high early failure rate, indicating there are issues
around the appropriateness of recommending an
IVA and the worse place that puts the customer
in debt, from a financial and emotional wellbeing
point of view when things go wrong.
SIMPLE REMEDIES
But coming at this problem with a relatively fresh
pair of eyes, it is possible to see some fairly simple
remedies that could restore the humble IVA back
to its place in the advisers’ debt-solution arsenal.
There is, understandably considerable focus
and concern around a couple of key areas – the
fees an Insolvency Practitioner (IP) earns, even
at the largely now agreed fixed rate of £3650 per
case, on the face of it still sounds high; the fees
lead generators earn, reportedly up to £1000 per
case, sound on the face of it, eye watering. Then
there’s the consumer groups’ claims around misselling
and the link between mis-selling and the
fees up for grabs that drives it all and you have on
the face of it, a set of very easy and obvious targets
to aim at and an easy solution in mind.
I’m not arguing in favour, or against these fees.
These are primarily commercial arrangements
between firms, not the consumer. In an IVA,
the creditor is effectively paying for the fees, by
writing off the debt owed, including any IP fees,
over and above what the customer in an IVA, can
afford to pay over 60 or 72 months.
So why would a regulator be concerned with
these fees? Surely market forces can effectively
control all this? After all, they don’t appear so
concerned with how much commission a debt
collection agency earns from a bank or how much
a credit card company sells its debt to a debt buyer.
The answer is simply because when an IVA
fails, the debt forgiveness is withdrawn by the
creditors, the full debts are reinstated, and the
money that the customer in debt has paid up to
the point of failure, has in many cases gone largely
to the IP. Potentially the customer in debt is up to
£3650 worse off than when they started looking for
a debt solution in the first place.
HIGH FAILURE RATES
Worryingly, around 20 to 30 percent of IVAs fail in
the first couple of years. It seems to me that if we
can reduce that number, we can tackle the crux of
the issue head on.
Then there are the claims around mis-selling,
which are also calling into question the whole
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 20

CONSUMER CREDIT
AUTHOR – Peter Wallwork FCICM
wrong effect. There needs to be appropriate
and effective regulation of course, but that’s
different. Reduced income could mean they
simply exit the market. What we need is a
reduction in the early failures.
What if successful IVAs do get consumers out
of debt and are generally more successful than
Debt Management Plans (DMPs)? People will
feel they already know the answer to this, but
we don’t really know, and we shouldn’t make the
assumption they are not. We need data to tell us
what is happening, and we don’t have that today.
I’m not sure I have enough space here to argue
whether it is better to approach a consumer to
see if they would like help or wait for them to
come and ask for it – Sir Hector Sants wants to
get another two million consumers into debt
advice but is struggling to get them to come
forward, and when they do, there isn’t the
capacity to serve them. It’s a circular problem
that various people including Peter Wyman,
have touched on many times in the past.
benefit of IVAs. The problem here is that there
isn’t enough data out there to understand what
is really going on and there aren’t the tools in the
right places to get to it. There are gaps where it
possibly isn’t clear who is responsible for what
– that’s the regulatory issue Chris Woolard is
talking about – and it might be that’s causing
some of the early failures.
Without data, we don’t know the full picture
– we don’t know enough about why the early
failures are really happening and whilst we can
take a guess, that’s not very scientific; we also
don’t know some of the basics, like how IVAs
perform relative to debt management plans and
that might be quite interesting to see.
It could be that simply aiming for the fees
the IPs and lead generators charge and being
seen to be taking some decisive action clamping
down or capping them, is going to have the
I’ve heard all kinds
of horror stories
about the way in
which various
parties in the
industry have
operated over the
years; how the
current regulatory
regime has been
criticised for
finding it difficult
to be effective.
SUCCESSFUL OUTCOMES
I’ve often said it before, but the right outcome for
customers in debt is inevitably the right outcome
for the businesses serving those customers too.
That’s how the debt collection industry evolved
over recent years and it works. Regulators can
drive these right outcomes of course, but they
too need data to do that effectively.
And what about the creditors that are
effectively paying for much of this through debt
forgiveness? The answer’s the same, you guessed
it - they need data to see they are complying with
regulation and managing IVAs effectively too.
IVAs need to be used and run properly and I
realise there will be other issues commentators
will want to talk about. But IVAs are a key part
of the toolbox for those advising customers in
debt, especially with the forecast tsunami of
financial difficulty that will follow once the
government income support schemes start to
be wound down. If we can solve the key issues
and revive IVAs’ reputation, they should once
again become a trusted and respected solution
and that’s a really good a win-win for consumer,
creditor, IP et al.
Peter Wallwork FCICM is a member of the
Trustfolio team (peter.wallwork@trustfolio.
co.uk). He is also a non-Executive Director
of the Money Advice Liaison Group as well
as holding other non-executive and advisory
roles. Trustfolio is a specialist software service
provider, offering an innovative end-to-end
solution to for the better management of
customers in IVA solutions.
The Insolvency Panel is a not-for-profit Social
Enterprise supporting over 200 free-sector debt
advice agencies (1000+ individual debt advisers)
with free digital tools and campaigning for
better IVA provision.
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 21

Advancing the credit profession / www.cicm.com / April 2021 / PAGE 22

SEE THE
DIFFERENCE IN
PERFORMANCE
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 23
01993 220557
BD@courtenforcementservices.co.uk
www.courtenforcementservices.co.uk

COUNTRY FOCUS
Singapore may
be small, but it’s
perfectly placed
(Part 1 ).
Small Island
AUTHOR – Adam Bernstein
SINGAPORE is an island city
state associated with Sir
Stamford Raffles who founded
it as a trading post in 1819,
the Japanese occupation in
1942, and the virtual banning
of chewing gum. The reality, of course, is
much more than that.
With a history that stretches back
across the millennia, Singapore gained
self-governing status in 1959 and joined
the Federation of Malaysia in 1963.
However, following differences with
fellow members it was expelled in 1965
and became fully independent.
One degree of latitude off the equator,
Singapore consists of one main island,
63 smaller islands and islets and one
outlying islet. With an area of just 700
sq km, it packs a mighty punch – well
above what might be thought of it. Data
from the International Monetary Fund
estimates that as of 2020 its people enjoyed
the world’s second largest GDP (PPP) of
$95,603. In comparison Luxembourg sat
in first place with $112,875, the US in
seventh place with $63,051 and the UK
was shockingly found in 25th place with
just $44,288.
THE PEOPLE
Singaporeans are quite diverse. Of its 5.7m
population, 4.03m are residents (citizens
and permanent residents) and around
1.68m are non-residents. The state is very
densely populated, coming in second
after Monaco. Ethnically, Chinese make
up around 76 percent of the population,
Malays 15 percent and ethnic Indians
around seven percent.
But the people are aging. November
2020 data from the CIA World Factbook,
illustrates to what degree. Those aged
under 15 years make up 13 percent of the
population; 15-24 years 15 percent; 25-54
years represent 50 percent; 55-64 years is
11 percent while persons aged 65 years
and over number 11 percent of Singapore’s
inhabitants. Compare those statistics over
the years since 1970 and the age bulge is
moving from young to old.
There are four official languages –
Malay, English, Mandarin and Tamil.
Malay is the official language; English is
used for business. Education is a key part
of Government spending, comprising
around 20 percent of the national budget.
According to data from the Programme
for International Student Assessment,
as run by the OECD, Singapore does
exceedingly well; students score at the
top of all countries examined for reading,
maths and science – well above the
OECD average. As for further education,
Singapore has six ‘local’ universities of
its own but is also home to a number of
overseas and private institutions.
Indeed, success in academia is seen
as a high priority for families who have
effectively made private education a very
lucrative industry; as far back as 2008, the
Straits Times found that some 97 percent
of students went without any form of extra
tuition.
A SMALL NATION…
Singapore may be small, but it’s perfectly
placed. It’s thought that around half of
the world’s population can be reached
within six hours by air, and by definition
of its location, it’s a superb location from
which to gain a foothold into the currently
expanding ASEAN economies which
themselves are home to around 630m
people.
On top of that, Singapore is sited at
a point where shipping lanes from the
East and West meet; it’s essentially a wellconnected,
very friendly trading hub
– one of the world’s biggest. The Straits
Times, reckoned in a May 2017 report, that
Singapore ‘has the potential to become the
world's largest commodity trading hub
in the decade ahead as trade flows shift
towards Asia.’ Rising demand for metals
and agricultural products in the region
will enhance its status in the region.
The report also noted that ‘some 80
percent of the world's leading commodity
trading companies have a presence here.’
Names include commodity trading and
mining giant Glencore; energy firms BP,
Shell and PetroChina; the world's top-four
food commodity traders – Bunge, Cargill,
Louis Dreyfus and Archer Daniels Midland;
as well as home-grown companies Olam,
Wilmar, Kairos and Fortrec.
Singapore may be Southeast Asia’s
smallest country, but it’s home to more
than 7,000 multinational corporations and
150 international organisations.
The point is further made in a
September 2020 report on Worldfinance.
com which detailed its predictions
for the five countries most likely to be
the world’s next manufacturing hubs.
Singapore takes up one of the slots on the
list, along with Malaysia, Vietnam, India,
Mexico and not unsurprisingly, China.
Interestingly, the report says that in recent
times, manufacturing in Singapore has
declined to just 19 prcent of GDP, but
that ‘the trade war and the coronavirus
pandemic could change this. As a trade
hub with liberal trade and investment
policies and a history of stable economic
growth, Singapore is well-positioned to
boost its manufacturing capabilities and
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 24

AUTHOR – Adam Bernstein
Unique vertical gardens
resembling towering trees, with
large canopies & colorful lights
at night. These unique trees
can be found all around the
Gardens. Supertrees are tree-like
structures that dominate the
Gardens’ landscape with heights
that range between 25 metres (82
ft) and 50 metres (160 ft).
capitalise on this opportunity.’
And for UK exporters, it’s notable that in
December 2020, Singapore signed a trade
agreement with the UK.
…OF MANY OPPORTUNITIES
In terms of exports, a 2020 document from HSBC
highlights that top of Singapore’s export list is
machinery and equipment, chemicals, mineral
fuels, manufactured goods, pharmaceuticals,
electronics, non-electric engines and motors,
foodstuffs, and consumer goods.
Conversely, its top imports are machinery
and equipment, mineral fuels, chemicals,
gems and precious metals, foodstuffs, and
consumer goods.
It’s worth pointing out that Singapore
is incredibly important to exporters when
considering its position in the world imports
Pagoda in Chinese Garden – Singapore
Chinatown in Singapore at night.
‘Since it became
an independent
nation, Singapore
has, through land
reclamation,
grown in size by
almost a quarter: to
277 square miles
from 224. By 2030,
the Government
wants Singapore
to measure nearly
300 square miles.’
league. Based on data from the International
Trade Centre, in first place is the US which
imports goods worth $2,568bn, followed by
China at $2,068bn, the UK in fifth place at
$692bn. Singapore is in 15th place with imports
worth $359bn.
Now if we consider Singapore’s position as
an exporter, World Bank Data suggests that
China is in pole position with exports to the
tune of $2,643bn, the US is next with $2,498bn,
the UK is fifth with $891bn while Singapore is
9th on $645bn.
Financial services are important to
Singapore. A Business Times report in
September 2019, quoted a Global Financial
Centres Index survey by London-based think
tank Z/Yen and the China Development
Institute. It found that Singapore was in fourth
place as a financial hub; New York was in first
place, followed closely by London and Hong
Kong. It’s a strong base for insurers and those
in fintech. Incidentally, the survey believes
that Singapore’s financial sector is well placed
to benefit from Brexit in the long-term.
In other areas, and predictably considering
Singapore’s diminutive size, food security is
seen as a key issue which makes innovation
in agriculture and diversification of imports
central to planning; the sensitivity is the result
of a combination of rising demand and scarce
resources (there’s not much agriculture going
on… only seven percent is grown locally). And
just as with populations elsewhere around
the world, Singapore’s healthcare system is
having to deal with an ever-ageing population;
this makes the sector a natural target for
commercial exploitation.
Alongside this is scope for infrastructure
development opportunities. Remembering
that Singapore is small, it’s looking to new
solutions to maximise the limited space that
it has including underground transport and
housing innovation. It’s worth noting at this
point that, according to an April 2017 feature
run by the New York Times, the Government
owns 90 percent of all of the land, most of
which is less than 50 feet above sea level;
coastal roads are being raised; and there’s an
almost permanent quest to reclaim land.
So much so that the feature commented
that ‘several countries have tired of feeding
Singapore’s endless appetite for sand;
Indonesia, Malaysia and, most recently,
Cambodia have halted exports altogether.’
It follows then that waste material from
projects is recycled – most recently spoil from
underground tunnels.
The New York Times lays bare Singapore’s
efforts in land reclamation: ‘Since it became an
independent nation, Singapore has, through
land reclamation, grown in size by almost a
quarter: to 277 square miles from 224. By 2030,
the Government wants Singapore to measure
nearly 300 square miles.’
Article to be concluded in the May issue.
Adam Bernstein is a freelance business writer.
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 25

MONEY LAUNDERING
CLEAN LIVING
In the world of AML, COVID-19 and Brexit
may prompt a drive to electronic verification.
AUTHOR – John Dobson
AS the global Coronavirus crisis started
to take hold during the first quarter
of 2020, many of the processes and
procedures involved in a property
purchase suddenly became obsolete.
Nowhere was this more so than in
the key area of ID verification and customer onboarding
to guard against the threat of money laundering and
financial crime – for which the housing market is a
prime target. And one of the biggest issues to come
out of it for the sector was the need to switch from
manual methods of verification to a more secure digital
platform.
INCREASED THREAT
The potential for increased criminal activity in light of
the gaps in security that opened up as a result of the
lockdown order to work from home, was clear to those
in the anti-money laundering (AML) sector. Through
a series of recent webinars, the Financial Action
Task Force (FATF), the global money laundering and
terrorist financing watchdog, highlighted that the crisis
introduced new opportunities as a result of the national
lockdowns.
One of the biggest changes in customer onboarding
was switching from presenting at an office with ID to
prove who they were, to having to scan documents and
email them along with a selfie photo.
This created a huge opportunity for fraud as it is
much easier to falsify a scanned passport with the use of
photo editing software, than it is to create a physical false
passport. And the requirement for social distancing and
staying at home meant it was not possible to compare
documents with a person presenting themselves.
As the restriction on house viewings was lifted and
the Stamp Duty Land Tax (SDLT) holiday introduced to
kickstart the housing market, demand in the property
sector through the summer reached unprecedented
levels – along with the prospect of further attempts at
money laundering and financial fraud.
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 26

MONEY LAUNDERING
AUTHOR – John Dobson
ELECTRONIC VERIFICATION
Manual checks for ID verification have long
been viewed as outdated and ineffectual when
it comes to preventing fraud. The onset of the
Coronavirus, therefore, and overnight changes
to how business operated amplified calls
already being made for regulated businesses
operating in the property market to shift to
electronic verification.
In fact, it was a call backed by FATF as
electronic checks using credit reporting data
will bring to light any discrepancies in a
client’s personal history and clearly flag up
where further action is required.
In addition, advances in facial recognition
software came to the fore. Without being able
to see the person face-to-face, this was a key
development in giving businesses that crucial
extra reassurance that the person they are
dealing with is on the level.
There is also a groundswell of opinion
emerging for a whole new approach to digital
ID, looking at the use of technology such as
Blockchain in order to create one indelible
record of an individual’s true identity.
While this has some merit, and the
intentions are all good, it would probably
be more practical to put the onus of
verifying ID on the key parties involved in a
housing transaction, such as estate agents,
conveyancers, etc. Because, would an
individual invest the time needed to keep the
record up to date, when they only move house
every few years?
GOVERNMENT CLARITY
However, one of the biggest changes in this
area which should prompt a wholesale shift
towards electronic verification has actually
come from the Government as a result of
Brexit.
As part of the legislation governing our
departure from the EU, the Money Laundering
and Terrorist Financing (Amendment) (EU
Exit) Regulations 2020 has now clarified the
position on electronic verification. It is clear
in stipulating that electronic verification
should be used, enabling businesses to move
away from manual, document-based checks.
In addition, the Legal Sector Affinity Group
(LSAG) announced the results of its extensive
revision of anti-money laundering guidance
earlier this year. In this they refer to the
Brexit legislation which again is a welcome
move in terms of bringing the legal sector up
to date with the latest technological solutions.
In essence what this legislation does is
confirm there is no longer any need to collect
passports, driving licences and those kinds of
documents to verify ID. For the vast majority
of every day, legal work and conveyancing all
that is required for ID verification is a name,
address and a date of birth (optional).
An online verification platform runs the
details through a global data search to bring
back results for an individual in less than two
seconds, and for a business in about three
minutes.
What we urgently need to move away from,
and this Brexit legislation allows us to do it,
are practices such as asking new customers to
send a photo of themselves with their passport
in hand open at their photo page.
Electronic verification ensures compliance
with Know Your Customer (KYC) and Know
Your Business (KYB) legislation without
having to handle a single document. It is also
less intrusive, as well as being 100 percent
COVID-secure because you don’t need to
meet face-to-face. We are not only entering a
new era of life outside of the EU but also a new
era of electronic verification, and this is the
year to make the switch.
FUTURE OUTLOOK FOR AML
One of the reasons why fraudsters and
criminal gangs have found it so easy to work
the system is a lack of resources to combat it
at a government level.
The Chancellor has now announced a
£100m investment in a new fraud taskforce
and more than 1,000 new investigators. This
is a positive move which may go some way
to recouping the £billions which have been
lost to fraud over the past 12 months of the
coronavirus crisis.
There’s no doubt that extra resources are
much in need, particularly as the chancellor
has also announced a new Restart fund for
businesses to replace the Bounce Back loans,
which was wide open to fraud and lost more
than £20bn in fraudulent claims.
But it’s also vital that a significant amount
of that £100m investment goes into the systems
used by HMRC to find those responsible for
fraud.
Without the use of the latest digital platforms
to run ID checks and verify information on a
global scale, these investigators will simply be
left in the dark.
John Dobson is CEO of SmartSearch UK
John Dobson
One of the biggest changes in customer onboarding was
switching from presenting at an office with ID to prove who they
were, to having to scan documents and email them along with a
selfie photo.
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 27

TRADE TALK
RISKY BUSINESS
OpenBordersDirect is helping smaller
businesses manage the risk of conducting
international trade.
AUTHOR – Lesley Batchelor OBE, FCICM
Lesley Batchelor
OBE, FCICM
OpenBordersDirect
takes the user
on a journey that
allows them to steer
their own course;
navigating the site
using easy-to-select
process categories
and clicking to read
more, or to access the
tools that sit behind
the sections.
FRESH back from a trip
from the Philippines,
Liam Fox, then Secretary
for State Department for
International Trade, asked,
‘Why don’t more businesses
export to the Philippines, indeed all the
emerging markets?’
At the time I wanted to explain in a
60-second sound bite why they don’t,
but instead I settled for the simple ‘It’s
mainly the risk that stops them.’ That was
2017 and time has moved on. The need
to help SMEs extend and become less
risk adverse, or at least more risk aware,
has become apparent. Exploring areas
of risk within the contracts and terms
and conditions that companies offer
highlights many examples of the use of
the wrong ICC Incoterm2020, and the
resultant problems, uncertainty and loss
of profit they can cause.
Whilst working on the last issue, I
met Mark Heath, ex AIG and insurance
expert. He was also exploring how
mistakes could be avoided, and how to
create a truly innovative digitised version
of Incoterms2020, to help businesses
understand which obligations sit with
each of the 11 incoterms.
Mark and I soon realised that working
with the ICC Incoterms alone wasn’t
going to help businesses to understand
their risk exposure, and the idea of a
single platform, carrying all the possible
risks and offering mitigation and
solutions to many of them, was needed.
OpenBordersDirect is a brand-new
platform that allows SMEs a safe place
to explore and understand the risks they
face in international trade.
JOURNEY OF DISCOVERY
OpenBordersDirect takes the user on a
journey that allows them to steer their
own course; navigating the site using easyto-select
process categories and clicking
to read more, or to access the tools that
sit behind the sections. This way the user
only activates the parts of the site that they
need but can check themselves by looking
at a ‘Risk-Report’ that will highlight any
gaps in the mitigation or coverage of their
individual risk management. This is ideal
for a business to use as part of their risk
register at board level or with their banks.
Understanding the risks your business
is exposed to is a fundamental part of
making a profit. It becomes increasingly
difficult when trading internationally as
everything takes longer. Although some
say three times longer, this is dependent
on the market, product and carrier
chosen.
The platform now also boasts
ecosystem partners who offer brilliant,
innovative solutions specifically
designed to help smaller businesses trade
effectively – and, most importantly, make
a profit.
OBD is a subscription service which
offers a package of support including
Due Diligence reports on KYC and PEPs,
a fully digitised ICC Incoterms2020 tool,
discounts on Virtual FX Bank accounts,
single invoice insurance and finally, an
alternative to Letters of Credit. Each
partner has been chosen as part of the
ecosystem as they bring a new tool to help
cash flow and to fund international trade.
There are many more partners waiting
to sign up including risk reports on cyber
issues, and tracking devices linked to
activate an insurance policy and ensure
the safety of goods as they travel around
the world. It is an exciting time to be in
international trade as we look to grow the
UK economy and take UK goods into more
exotic markets. Open Borders Direct aims
to make that easier by helping smaller
businesses manage those risks.
Visit www.openborders.direct and subscribe
with a month’s free trial or as a
member of the Chartered Institute of
Credit Management click on the trade association
button, click on CICM and take
advantage of a three-month free trial
available to our advisory board member
associations.
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 28

THE HITCHHIKER’S GUIDE TO INTERNATIONAL TRADE
FREE TO SERVE
In the first in a new series, Lesley Batchelor OBE FCICM,
guides readers through the import/export maze.
We start with Freeports.
AUTHOR – Lesley Batchelor OBE, FCICM
THE Government has now
announced eight new
Freeports which sounds like
good news, but what does
that mean and how can
businesses take advantage
of this news?
One of the key components of a Freeport
is that any business set-up within the
confines of the Freeport will benefit from
simplified customs procedures aligned to
tariff and tax exemptions. This means, if
you’re a manufacturer who imports raw
materials from anywhere in the world,
instead of paying the import duty on
these materials you would bring them
to the UK into the freeport or freeport
zone without paying duty on them. The
factory or process plant would sit in that
zone. This delays payment of duties liable
until the goods are processed and either
released into free circulation within the
UK or exported to another market. This
enhances your company’s cash flow
and makes the goods clearance simpler,
in turn making purchasing and supply
chains easier to manage. The same effect
can be produced by using customs or
bonded warehousing facilities, although
there are often other financial incentives
to entice the development of hubs geared
to international trade.
Seven freeports existed in the
UK between 1984 and 2012 but they
were disbanded under the coalition
Government. The need for free circulation
in the EU is limited as goods move freely
from member states anyway, and as such
this type of support is usually given to
Less Developed Countries – although the
EU does have 80 free trade zones across
21 member states, including 24 in the UK.
In developing these new freeport/trade
zones it should be noted that EU State Aid
and WTO rules still need to be adhered to.
Circumstances have definitely changed
since the EU exit, as UK manufacturers
face increased paperwork, and Freeports
might reduce some of this pressure on the
industry.
FREEPORT INTEGRATION
Manufacturing in the UK contributes 11
percent GDP and represents 44 percent
of UK exports, in addition to supporting
thousands of well-paid jobs directly and
indirectly through their secondary and
tertiary supply chains. The next step
will be the integration of Freeports, with
the recently announced ‘multi-purpose
inland custom facilities’ that have been
designed to manage freight and handle
goods coming into the UK.
The big question is who will use
Freeports? Large manufacturers will
think twice before moving plant and
manufacturing facilities with thousands
of jobs to a new site, even if it enables them
to take advantage of the freeport status.
The shape of business administration
since COVID has also changed, with
many people wanting to continue to work
from home, commuting less, making the
physical location of a manufacturer a
smaller consideration than in the past.
Enterprise Zones have not always
met expectations in terms of job
creation either, but they do succeed
in creating lower skilled work. The
challenge of the mobility of
higher skilled workers remains
an issue, especially when
moving away from
the capital and into
‘one job’ cities; the cost of moving a family
and its support circle is hard to quantify.
UK businesses trading globally currently
may feel the new Freeports/Free-zones
will attract new investment, make it easier
to manage the supply chain and certainly
support the UK logistics and warehousing
industry moving forward.
Where does the UK sit within these
agreements, and how can we find our
role outside the EU? As the Government
looks to carve out a new International
Trade Strategy that will integrate with
the Industrial, Education and Digital
Strategies and move the UK forward
towards a brave new world, these are key
questions that need answering soon.
Lesley Batchelor OBE, FCICM
COO & Commercial Director at
Open Borders Direct.
THE HITCHHIKER’S GUIDE TO INTERNATIONAL TRADE •
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 29

INTERNATIONAL
TRADE
Monthly round-up of the latest stories
in global trade by Andrea Kirkby.
Lack of containers drives
shipping costs to new high
AS if you needed telling…Xchange, which
tracks container movements worldwide,
has reported that the average cost of
shipping a standard container has risen by
20 percent in recent months to more than
$4,000, extending a rise that began in mid-
November.
Shortages in Shanghai and elsewhere
in China has forced prices up to the point
that average shipping rates between east
Asia and northern Europe are up nearly 40
percent this year, and at nearly $8,000 are
close to double the global average.
The problem is a function of coronavirus
trade disruption which left some ports,
especially in Europe and the US, with too
many containers while there were too few
elsewhere; the surplus saw containers
stacked at the ports or sent inland to
off-port depots. Then the global recovery
– in parts – came along and made a bad
situation worse.
The point is that exporters should, if they
haven’t already, factor in rising shipping
costs and set customer expectations for
delivery times accordingly.
A RUM DO IN CUBA
IT was bound to happen eventually but Cuba,
the communist outpost just 90 miles from the
land of the free, has announced it is to allow
private businesses to operate in most sectors
as part of a major reform of its state-controlled
economy.
Allowable activities for private businesses
have been expanded from 127 to more than
2,000 and only a small number of sectors are
to be reserved for the state. The driver for
change was clearly economic, as the country
has been badly affected by the pandemic and
US sanctions introduced by former President
Trump. Its economy fell by 11 percent last
year, it’s worst performance in nearly 30
years. Apart from countless numbers of small
farms, Cuba’s private sector is presently made
up of artisans, taxi drivers and tradesmen.
Many are also involved in tourism which has
been hard hit by the pandemic and sanctions.
Even though President Biden has
suggested that the wants to improve relations
with the country, change happens slowly in
Cuba so don’t expect a rapid opening Look
now at the visa application process
as those who get there first may find
the richest pickings.
UK APPLIES TO JOIN ASIA-PACIFIC FREE TRADE PACT CPTPP
The Government has applied for
membership of the Comprehensive
and Progressive Agreement for Trans-
Pacific Partnership – CPTPP – a market
of around 500m people based on a free
trade area with 11 Asian and Pacific
nations.
CPTPP members include Australia,
Canada, Japan and New Zealand as
well as Brunei, Chile, Malaysia, Mexico,
Peru, Singapore and Vietnam.
Granted the market is harder to
access compared to the EU, but it’s not
hard to see evidence of how that part
of the world is set for growth. Naturally,
being a member will help its members
sell to the UK, but the opposite is also
true, and tariffs should drop on UK
exports such as whisky and cars, as
well as service industries.
The effect of membership in the
short term might be muted as the
UK already has trade deals in place
with several CPTPP members and is
negotiating with Australia and New
Zealand. But where this gets interesting
is if the US joins the CPTPP. Former
President Trump removed the US from
the negotiations, but President Biden
may well take a different line. And if
that happens, the UK wouldn’t need a
separate trade deal to access the US
market on better trade terms.
It’s time to pray coronavirus is put
back in its box and that overseas travel
is soon allowed again.
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 30

THE African Continental Free Trade
Agreement is now up and running and
along with the agreement, ‘favourable
demographics, improving governance and
a growing technology sector also bode
well for the continent,’ says MoneyWeek.
Africa’s economic development has
often been compared to that of other
continents because it has consistently
failed to get to grip with free trade.
According to the World Bank, average
tariffs in the UK and US are 1.6 percent
and 1.7 percent respectively. In contrast,
South Africa charges an average of
4.3 percent, Nigeria 8.5 percent and
Kenya 10.1 percent. ‘As a result,’ says the
publication, ‘total trade accounts for 64
CHECK YOUR SUPPLY CHAINS
NOW here’s an interesting view. Louis Gave,
CEO of GaveKal, an independent research,
fund management and data analysis firm,
in an interview with themarket.ch on why
inflation will return, made a very distinct
observation – that firms should be careful
of their supply chain.
Says Gave: "We’re in a new world... where
supply chains are broken up along the lines
of separate empires. Over the past two
years, the US has done everything it could
to kill Huawei. It's done so by cutting off the
semiconductor supply chain to Huawei.”
He added that: “every Chinese
company today is worried about being
the next Huawei... in every industry. Until
recently, price and quality were the (key)
considerations in any corporate supply
chain. Now...safety of delivery matters
most, even if the cost is higher. This is a
dramatic paradigm shift... It adds up to a
DESTINATION AFRICA
£20M SME BREXIT SUPPORT FUND TO HELP
THE government has put in place a £20m
Brexit support package to help firms
cope with (more) changes to trade rules
with the European Union. The money is
designed to help firms prepare for the
implementation of new import controls
which come into force from April and
July.
Those that trade only with the EU,
so are new to importing and exporting,
ought to apply for the grants of up
to £2,000 for each trader to pay for
practical support including training and
professional advice.
percent of UK GDP… but is worth only a
third of GDP in Kenya, South Africa and
Nigeria.’
Union Investment, one of Germany’s
largest asset managers, thinks that
lowering tariff barriers should tackle one
of the continent’s main problems – ‘the
low level of intra-African trade.’
And lower tariffs, freer movement,
and a relatively young population
with a median age of only 20 (half
that of the UK), and the rise of virtual
working should, says Union Investment,
‘significantly boost Africa’s long-term
growth’. Africa ought to be on the top of
any exporter’s list now that the UK is now
fully out of Europe.
huge hit to productivity.”
Gave continues to say that productivity
is under attack from regulation, from ESG
(environmental, social and governance)
investors, and now also security
considerations. He’s of the view that this
would not be inflationary if central banks
acted with restraint. “But of course,” he
says, “we know that they are printing
money like never before.”
The fund will be administered through
the pre-existing Customs Grant Scheme
and opened for applications in March.
While welcome, Make UK, a
manufacturers’ organisation, is still
worried by EU/UK impediments. It said:
‘…there remains an urgent need for the
government to sit down with the EU and
address the bottlenecks and red tape
which still remain, and which are adding
substantial costs to doing business.
These are more than teething troubles
which, if not addressed, threaten to
become permanent structural barriers.’
HOVERCRAFT
BUILDER EXPORTS
SOUTHAMPTON-based hovercraft
manufacturer Griffon Hoverwork Ltd has
delivered two of its new 995ED craft to
clients in Hong Kong and Estonia. One of
the two eight-metre-long craft was sent
to the Hong Kong Marine Police and the
other to the Estonian Border Guard. So
far, seven of these hovercraft have been
built and sold since it was launched
at the ExpoNaval trade fair in Chile in
2018. Other clients have included the
Malaysia Marine Department and private
customers. The 995ED isn’t cheap – entry
price starts around £650,000 with plenty
of options and has capacity for eight
people or up to four stretchers or any
combination up to a maximum payload of
just under a tonne. Top speed is 30 knots
at full ‘all up weight’.
The company says that it has
hovercraft in all five continents and
supports over 200 GHL machines in more
than 40 countries.
SOUTH KOREA’S IN GOOD
SHAPE, APPARENTLY
BLOOMBERG reports that South Korea
should bounce back strongly to prepandemic
levels in the first half of 2021,
giving it one of the best recoveries among
major economies.
As President Moon Jae-in has
previously stated, the country ‘managed
to minimise the economic damage of
COVID-19’ in 2020, and the country ended
the year with a tiny one percent fall in
GDP. On top of that are four government
rescue packages that limited the damage
from a slump in household spending.
The Bank of Korea expects the economy
to grow three percent this year as the
construction industry expands on the
back of government plans to increase
housing. Meanwhile compare South
Korea’s position to that of other large
economies – the world’s 10 biggest
economies shrank by between three
percent and 10 percent in 2020.
CURRENCY UK
EXCHANGE RATES VISIT CURRENCYUK.CO.UK
OR CALL 020 7738 0777
Currency UK is authorised and regulated
by the Financial Conduct Authority (FCA).
HIGH LOW TREND
GBP/EUR 1.16879 1.14683 Up
GBP/USD 1.41443 1.38153 Flat
GBP/CHF 1.29575 1.23819 Up
GBP/AUD 1.80844 1.77576 Up
GBP/CAD 1.77854 1.72659 Down
GBP/JPY 1 52.051 146.623 Up
This data was taken on 17 March and refers to the month
previous to/leading up to 16 March 2021.
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 31

PANEL BASHERS
Performance Indicators
Karen Savage and Paula Swain answer
this month's question.
How should
I assess the
effectiveness
of a third-party
collection
agency or
lawyer?
Panellist
Karen Savage FCICM
PERHAPS the best way of
answering this question is
to look at our own model
and the lessons that can be
learned from it in terms of
how ‘effective’ a third-party
can and should be.
We have a panel of six DCAs and three
law firms. Managing their performance
requires a robust Supplier Assurance
Framework. The Assurance Framework
seeks oversight and assurance over
each servicer firms’ general governance
and control framework, adherence to
regulatory requirements, customer
treatment and evidence of satisfactory
recruitment, training and competency
frameworks. Ongoing Quality Assurance
checking are also conducted on a regular
basis.
Azzurro Associates has an independent
second line Risk & Compliance Team. The
Head of Risk & Compliance is responsible
for the compliance monitoring plan,
complaints handling and the monthly
QA framework over our suppliers. Each
customer-facing supplier goes through a
Due Diligence process, an annual review
of policies and a monthly oversight
process. The monthly oversight includes
anything up to 50 customer telephone
calls and file reviews per supplier. These
are marked against industry best practice,
regulatory requirements and our own suite
of policies. (Once lockdown restrictions
in the UK have been lifted, the Risk &
Compliance Team will recommence visits
to each supplier to conduct a full audit.)
Over the last 12 months, weekly virtual
meetings with suppliers have been ‘the
norm’, to discuss and assess collections
performance, accounts that are on ‘hold’
as a result of COVID, and or agreed strategy
as regards litigation and use of the courts.
Both the FCA and the CSA provided regular
updates on generic operational issues and
best practice, which were also used as a
benchmark for third-party performance.
What we looked for (and still look for) in
particular includes:
• The ability to provide timely, accurate
reporting in line with our monthly
reporting requirements. All transactions
(whether cash or non-cash) should be
coded correctly enabling straightforward
balance reconciliation. Periodic audit of
the data transmission should highlight few
if any errors.
• A review of a sample of accounts placed
with the servicer should indicate multiple
attempts to contact the customer through
the various channels available to the
servicer (phone, letter, email, SMS etc).
Further contact with the customer should
reflect the preferred communication
channel agreed with that customer.
• The servicer should proactively suggest
changes in strategy based on information
gleaned by the Contact Centre. The
recommendations should highlight the
cost/benefit of such a strategy change.
• The servicer should, where possible,
enable the customer to use self-serve
processes to manage their debt position.
Such online tools should offer a suite of
payment plan and settlement options,
ensuring all forbearance tools and
affordability guidelines are adhered to.
• Running a benchmark strategy
introduces an element of competition
to the servicing strategy between two or
more service providers. The key criteria
to ensure an effective benchmark process
are:
The debt placed is randomly allocated –
with a check of credit quality characteristics
to ensure no pool is substantially different;
The timeframe of measurement
must discourage an acceleration of the
collection process by the Servicers, and
thus create artificial unsustainable results;
The benchmark pools must be of
sufficient size to support consistent efforts
by the servicers;
One should consider a hybrid activity
and contingent commission rate model,
to ensure each servicer is appropriately
compensated for their efforts, thus
ensuring a level playing field.
Close oversight during the Pandemic
– and beyond – should ensure collection
volumes remain stable, whatever the
challenge!
KAREN SAVAGE FCICM
Chief Operating Officer and Solicitor at Azzurro Associates.
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 32

PANEL BASHERS
Start with a review and
development of your credit
control processes around query
management and escalation for
outsourcing for legal support.
If your team hasn’t outsourced
before, or their experience is
limited, then this will help build
knowledge.
Panellist
Paula Swain
PAULA SWAIN
Partner. National Head of Commercial Recoveries.
SPECIALIST recoveries lawyers should offer you so
much more than litigation, even if that is their daily
bread.
If you take Shoosmiths as an example, our service
can start with a review and development of your credit
control processes around query management and
escalation for outsourcing for legal support. If your team hasn’t
outsourced before, or their experience is limited, then this will
help build knowledge about the escalation process and build trust
between client and lawyer. It’s a great way to start an important
relationship.
Where your team is more experienced or you have wider
resource, you might still benefit from a triage service. This
provides you with a fixed cost case review for those hard to crack
or more complex cases. Our advice will help you to choose a
strategy for resolving the case.
It’s not all about litigation either, we can help with a pre-legal
collections lettering and telephone service. Receiving a letter
from a law firm can often be enough to prompt engagement and
resolution. The right choice of lawyer will provide you with the
best range of services to suit your business and your team.
The size of your case load for outsourcing is also a relevant
consideration. Can your proposed legal partner support you in
the way you need? Do they have the resource and system to cope
with managing a large supply of cases from you? Will they be
able to provide access to their system to enable your team to selfservice
updates? Will they be able to provide reports in a format
which helps your own internal reporting needs?
For those with smaller case-loads, will you have the opportunity
to build a relationship with your dedicated service team? Being
passed from pillar to post can be a frustrating experience, so it
will help if you can have a main point of contact looking after
your relationship. Ask how the lawyer will onboard your work
and manage your relationship. This will give you an insight into
how the relationship is likely to develop.
Is industry knowledge relevant for your choice? If so, ask about
the lawyer’s experience, and ask for case studies. This will show
you that they are likely to quickly understand your business and
your commercial objectives. If your business has customers
across the UK, then ask how your lawyer will support you with
cases in all four jurisdictions. Would you prefer a national firm
with a joined up team across the UK, or a firm based in one of the
jurisdictions referring your work out to a separate law firm in the
relevant jurisdiction? Last, but not least, lead with rapport. Can
you work closely with your chosen team, and do you feel that they
will become a trusted adviser?
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 / April 2021 / PAGE 33

2021
The CICM
British Credit
Awards 2021
ADVANCING THE CREDIT PROFESSION
PORTFOLIO
CREDIT CONTROL

w
Congratulations to all for
your constant endeavour
IN its 82-year history, the CICM has come through a great many
challenges, not least of which was a world war. In more recent
times we have been going through another battle, perhaps
not quite so catastrophic, but certainly global, and most likely
the biggest challenge that many of us will have faced in our
working lives. It is remarkable, then, that not only are we now
emerging through the other side, but that we also have something to
celebrate. Because through adversity often comes inspiration, and these
awards are a celebration of all that is good about our brilliant profession
and our brilliant people. To the winners, many congratulations and
thank you for leading the way. To the highly commended and indeed to
all of those shortlisted, be consoled by the company you keep, and your
continued endeavour – in the words of Tennyson – to strive, to seek, to
find, and not to yield.
Sue Chapple FCICM
Chief Executive
2021 CICM BRITISH CREDIT AWARDS JUDGING PANEL
Steve Allinson – Allinsonlaw Limited
Gail Armstrong MCICM – Siemens
Michelle Atkinson FCICM – United Utilities
Liz Bingham – R3
Sue Chapple FCICM – CICM
Leanne Chesterman – BAE Systems
Brendan Clarkson FCICM – Begbies Traynor
Steven Coppard MCICM – Cabinet Office
Sean Feast FCICM – Gravity Global
Nigel Fields FCICM – NBC Universal International
Philip King FCICM – Dept for Business, Energy & Industrial Strategy
Philip Roberts FCICM – Clarke Willmott
Natalie Ross – American Express
Paula Swain – Shoosmiths
Karen Young – Hays
Advancing the credit profession / www.cicm.com / April 2020 / PAGE 35
2021
continues on page 36 >

2021
Apprentice of the Year Award
Winner
Alicja Gracjasz
Valor Hospitality Europe Limited
Judges' comment: Alicja is a real credit to her profession
and has shown extraordinary resilience and maturity through
an extremely difficult period. Despite being furloughed,
made redundant and then re-hired, her professionalism and
enthusiasm have shone through.
Presenter: Gail Armstrong MCICM, Head of Invoice to
Cash GB & Ireland at Siemens
Thank you! Appreciation Award
Winner
Emma Tudor-Pratley ACICM
The Adecco Group UK & Ireland
Sponsored by
Judges' comment: Emma has been a real lynch pin during
these challenging times, and her kind heart and helpful
manner has been appreciated by all of her colleagues.
Finalists:
Chris Sanders FCICM, Sanders Consulting Associates,
Haylie Heather, npower Business Solutions
Joanne Rhodes, The Adecco Group UK & Ireland
Octav Carlescu, Credit Assist
Presenter: Tom Dodd-Noble, CEO Data Interconnect
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 36

2021
Shooting Star Award
Winner
Lisa-Marie Schorah
Weightmans
Sponsored by
PORTFOLIO
CREDIT CONTROL
Judges' comment: Lisa-Marie shows what can be achieved
when those in the early stages of their career are given the right
encouragement and support, and how they can develop into the
shooting stars of tomorrow.
Finalists:
Inga Schibsted, Chaser
Emma Carruthers, RS Components
Ethan Harrison, The Very Group
Presenter: Charlotte Turner, Director at Porfolio
Cool Under Pressure Award
Winner
Kieran Reid
The Adecco Group UK & Ireland
Judges' comment: The judges were impressed by Kieran’s
commitment to setting and achieving his own personal targets
as well as those imposed by the business. He has enjoyed an
amazing year with unprecedented results.
Finalists:
Aurangzaib Chawla, Lanop Accountants
Virginija Tesarcik, RS Components
Presenter: Phil Roberts FCICM, Partner at Clarke Wilmott LLP
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 37 continues on page 38 >

2021
Diversity & Inclusion Award
Winner
Marston Holdings
Judges' comment: Marstons is very focused on moving with
the times and sets high expectations in its people and working
practices. The standards of excellence it has demonstrated in
diversity and inclusion are of the highest order.
Presenter: Debbie Nolan FCICM, CICM Chair and Vice President of
Collections UK at Avarto
Duct Tape Award
Winner
Claire Rigby
Wex Euroupe (Services) Ltd
Judges' comment: Claire is capable of a variety of fixes,
supporting individuals and the business, in big ways and small.
If ever there was a Mrs Fixit, it’s Claire!
Finalists:
Chris Williams, Royal Mail - Octav Carlescu, Credit Assist - Simon Quigley
The Adecco Group UK & Ireland - Steve Ewen, RS Components.
Presenter: Michelle Atkinson, Head of Income
Customer Services for United Utilities
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 38

2021
Credit Team of the Year Award
JOINT WinnerS
London School of Economics
Judges' comment: This entry showed a team that fully
understood the benefits of transparency, flexibility and
knowledge sharing, as well as having a deep understanding of
debt resolution. The team is forward thinking and has its eyes
firmly fixed on the future.
Tarmac Trading Ltd
Sponsored by
Judges' comment: A standout performance demonstrating
transformative change and strong results. The team has
delivered great results in extremely difficult circumstances and
in a challenging sector.
Finalists:
AR Team - BAE Systems, Arvato Financial Solutions, Ascent Performance
Group Limited, Imperial College London, Royal Mail, Scottish Water Business
Stream, Tenth Revolution Group, The Adecco Group UK & Ireland
Presenter: Andrew Bass, Senior Business Development Executive Visma Onguard
Credit Professional of the Year Award
Winner
Sponsored by
Debbie Matthews MCICM (GRAD)
The Adecco Group UK & Ireland
Judges' comment: Debbie's influence goes far beyond her day
job and has positively impacted her direct reports, their direct
reports, and clients struggling through COVID-19 restrictions.
The Judges see Debbie as real leader and role model showing
exceptional commitment to her team and the business.
Finalists:
Caitlin Guy-Holt, Wex Europe (Services) Ltd - Gillian Johnston MCICM
RS Components - Kayleigh Bagnall, Wex Europe (Services) Ltd - Natalie
Tate, Just - Nicholas Brierley, University of Central Lancashire - Nicos
Ioannou FCICM, Infocredit Group Limited - Oliver Slimm Dudley, Building
Society - Vinod Kerai ACICM, Chesterton Global Limited.
Presenter: Kabir Gulabkhan, Manager at Hays Credit Management
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 39 continues on page 40 >

2021
CICMQ High Performance Team of the Year
Winner
Tarmac
Judges' comment: Tarmac has all of the attributes of a high
performing team that is extremely motivated and engaged.
The team clearly work closely with all stakeholders throughout
the business and have a very clear idea of what they want to
achieve, whilst sharing their experiences in credit management
to help other organisations in the CICM Best Practice Network.
Presenter: Chris Sanders FCICM, Head of CICMQ Accreditation
Sir Roger Cork Prize
Winner
Ben Holdsworth ACICM
Judges' comment: This award is presented to the 2020
candidate who achieved the highest aggregate marks across
all the core examined units.
Presenter: Debbie Tuckwood, CICM’s Chief Advisor for Professional Development
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 40

CSA Apprenticeships
The CSA is an approved
Apprenticeship Training
Provider specialising in
Credit and Collections, and
Compliance and Risk.
Our apprenticeships are
designed and delivered by a
team of financial services, risk
and compliance professionals,
who combine extensive industry
knowledge and understanding
with highly developed training,
coaching and assessment
expertise.
Level 2 Credit
Control & Collections
14 months
Level 3 Advanced Credit
Control/Specialist
Collections
19 months
Cohort start date: 15 April 2021*
Level 4 Regulatory
Compliance Officer
16 months
Cohort start date: 22 March 2021*
For further information:
Level 3 Compliance
Risk Officer
16 months
Cohort start date: 29 April 2021*
Level 4 Counter
Fraud Investigator
27 months
Cohort start date: 15 April 2021*
Level 6 Senior Compliance
Risk Specialist
37 months
*Learners can join up to six weeks after start date
w: www.csa-uk.com/apprenticeships
e: apprenticeships@csa-uk.com
t: 0191 217 3073
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 41

PAYMENT TRENDS
A Little Ray of Light?
The latest payment performance statistics
show some signs of improvement.
AUTHOR – Rob Howard
LAST month’s late payment statistics
painted an increasingly worrying
picture. The latest figures, however,
show some signs of improvement
across the board to lift, at least
temporarily, some of the doom and
gloom caused by the pandemic. The average Days
Beyond Terms (DBT) across regions and sectors
reduced by 2.8 and 2.7 days respectively.
SECTOR SPOTLIGHT
The sector standings provide some room for
optimism, with 16 of the 22 sectors managing to
reduce their payment terms.
The Business from Home and Agriculture,
Forestry and Fishing sectors are the biggest
movers, with reductions of 9.3 and 9.2 days
respectively. Elsewhere, the Construction (-8.1
days), Energy Supply (-6.5 days) and Mining
and Quarrying (-5.2 days) also made significant
improvements. A reduction of 3.2 days means
that the Public Administration sector just pips
Health & Social to top spot in the standings with
an overall DBT of 10.2 days.
Unsurprisingly, Hospitality continues to suffer
more than any other sector, a further increase of
7.6 days means its overall DBT is now a staggering
43.3 days. Hotel, restaurant and café owners to
name but a few are all desperately counting down
to the lifting of restrictions which will allow them
to open their doors once again.
From a regional perspective,
things also look a little brighter,
with 10 of the 11 regions moving
in the right direction and making
reductions to payment terms.
The only increase came from
Northern Ireland (+0.2 days),
albeit a very marginal one.
REGIONAL SPOTLIGHT
From a regional perspective, things also look a
little brighter, with 10 of the 11 regions moving
in the right direction and making reductions
to payment terms. The only increase came
from Northern Ireland (+0.2 days), albeit a very
marginal one.
East Anglia and East Midlands,
previously the two worst performing
regions, made the biggest
improvement, with a reduction
of 6.1 days and 5.3 days
respectively to payment
terms. A reduction of 4.9
days means that Yorkshire
and Humberside is now
the best performing region
with an overall DBT of 15.2 days.
By Rob Howard
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 42

STATISTICS
Data supplied by the Creditsafe Group
Top Five Prompter Payers
Region Feb 21 Change from Jan 21
Yorkshire and Humberside 15.2 -4.9
North West 16.2 -4.6
Northern Ireland 17.3 0.2
West Midlands 17.3 -2.1
Scotland 17.8 -1.5
Bottom Five Poorest Payers
Region Feb 21 Change from Jan 21
Wales 20.4 -1.5
East Midlands 19.4 -5.3
East Anglia 19.3 -6.1
South West 19.3 -2.5
South East 18.6 -1.9
Top Five Prompter Payers
Sector Feb 21 Change from Jan 21
Public Administration 10.2 -3.2
Health & Social 10.7 -1.3
Water and Waste 11.7 -3.9
Manufacturing 12.4 -4.9
Wholesale and retail trade 13 -0.8
Bottom Five Poorest Payers
Sector Feb 21 Change from Jan 21
Hospitality 43.3 7.6
Business from Home 25.5 -9.3
Real Estate 24.9 -3.3
Financial and Insurance 22.3 -4.8
Entertainment 19.6 0.1
Getting Worse
Hospitality 7.6
Education 4.2
International Bodies 1.3
Other Service 1.2
IT and Comms 0.8
Entertainment 0.1
Getting Better
Business from Home -9.3
Agriculture, Forestry and Fishing -9.2
Construction -8.1
Energy Supply -6.5
Mining and Quarrying -5.2
Dormant -5.1
Manufacturing -4.9
Financial and Insurance -4.8
Professional and Scientific -4.8
Water and Waste -3.9
Business Admin & Support -3.5
Real Estate -3.3
Public Administration -3.2
Health & Social -1.3
SCOTLAND
-1.5 DBT
Wholesale and retail trade 0.8
Transportation and Storage 0.7
NORTHERN
IRELAND
0.2 DBT
SOUTH
WEST
-2.5 DBT
WALES
-1.5 DBT
NORTH
WEST
-4.6 DBT
WEST
MIDLANDS
-2.1 DBT
YORKSHIRE &
HUMBERSIDE
-4.9 DBT
EAST
MIDLANDS
-5.3 DBT
LONDON
-0.5 DBT
SOUTH
EAST
-1.9 DBT
EAST
ANGLIA
-6.1 DBT
Region
Getting Better – Getting Worse
-6.1
-5.3
-4.9
-4.6
-2.5
-2.1
-1.9
-1.5
-1.5
-0.5
0.2
East Anglia
East Midlands
Yorkshire and Humberside
North West
South West
West Midlands
South East
Scotland
Wales
London
Northern Ireland
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 43

INTRODUCING OUR
CORPORATE PARTNERS
For further information and to discuss the opportunities of entering into a
Corporate Partnership with the CICM, please contact corporatepartners@cicm.com
The Company Watch platform provides risk analysis
and data modelling tools to organisations around
the world that rely on our ability to accurately predict
their exposure to financial risk. Our H-Score®
predicted 92 percent of quoted company insolvencies
and our TextScore® accuracy rate was 93
percent. Our scores are trusted by credit professionals
within banks, corporates, investment houses
and public sector bodies because, unlike other credit
reference agencies, we are transparent and flexible
in our approach.
T: +44 (0)20 7043 3300
E: info@companywatch.net
W: www.companywatch.net
Satago helps business owners and their
accountants avoid credit risks, manage debtors
and access finance when they need it – all in
one platform. Satago integrates with 300+ cloud
accounting apps with just a few clicks, helping
businesses:
Understand their customers - with RISK INSIGHTS
Get paid on time - with automated CREDIT CONTROL
Access funding - with flexible SINGLE INVOICE FINANCE
Visit satago.com and start your free trial today.
T: 020 8050 3015
E: hello@satago.com
W: www.satago.com
HighRadius is a Fintech enterprise Software-as-a-
Service (SaaS) company. Its Integrated Receivables
platform reduces cycle times in the Order to Cash process
through automation of receivables and payments
across credit, e-invoicing and payment processing,
cash allocation, dispute resolution and collections.
Powered by the RivanaTM Artificial Intelligence
Engine and Freeda Digital Assistant for Order to Cash
teams, HighRadius enables more than 450 organisations
to leverage machine learning to predict future
outcomes and automate routine labour intensive tasks.
T: +44 7399 406889
E: gwyn.roberts@highradius.com
W: www.highradius.com
Chris Sanders Consulting – we are a different
sort of consulting firm, made up of a network of
independent experienced operational credit and
collections management and invoicing professionals,
with specialisms in cross industry best practice
advisory, assessment, interim management,
leadership, workshops and training to help your
team and organisation reach their full potential in
credit and collections management. We are proud to
be Corporate Partners of the Chartered Institute of
Credit Management and to manage the CICM Best
Practice Accreditation Programme on their behalf.
T: +44(0)7747 761641
E: enquiries@chrissandersconsulting.com
W: www.chrissandersconsulting.com
Dun & Bradstreet Finance Solutions enable modern
finance leaders and credit professionals to improve
business performance through more effective risk
management, identification of growth opportunities,
and better integration of data and insights
across the business. Powered by our Data Cloud,
our solutions provide access to the world’s most
comprehensive commercial data and insights
supplying a continually updated view of business
relationships that help finance and credit teams
stay ahead of market shifts and customer changes.
T: (0800) 001-234
W: www.dnb.co.uk
Key IVR provide a suite of products to assist companies
across Europe with credit management. The
service gives the end-user the means to make a
payment when and how they choose. Key IVR also
provides a state-of-the-art outbound platform
delivering automated messages by voice and SMS.
In a credit management environment, these services
are used to cost-effectively contact debtors and
connect them back into a contact centre or
automated payment line.
T: +44 (0) 1302 513 000
E: sales@keyivr.com
W: www.keyivr.com
Operating across seven UK offices, Menzies LLP is
an accountancy firm delivering traditional services
combined with strategic commercial thinking. Our
services include: advisory, audit, corporate and
personal tax, corporate finance, forensic accounting,
outsourcing, wealth management and business
recovery – the latter of which includes our specialist
offering developed specifically for creditors. For
more information on this, or to see how the Menzies
Creditor Services team can assist you, please
visit: www.menzies.co.uk/creditor-services.
T: +44 (0)2073 875 868 - London
T: +44 (0)2920 495 444 - Cardiff
W: menzies.co.uk/creditor-services
Tinubu Square is a trusted source of trade credit
intelligence for credit insurers and for corporate
customers. The company’s B2B Credit Risk
Intelligence solutions include the Tinubu Risk
Management Center, a cloud-based SaaS platform;
the Tinubu Credit Intelligence service and the
Tinubu Risk Analyst advisory service. Over 250
companies rely on Tinubu Square to protect their
greatest assets: customer receivables.
T: +44 (0)207 469 2577 /
E: uksales@tinubu.com
W: www.tinubu.com.
Building on our mature and hugely successful
product and world class support service, we are
re-imagining our risk awareness module in 2019 to
allow for hugely flexible automated worklists and
advanced visibility of areas of risk. Alongside full
integration with all credit scoring agencies (e.g.
Creditsafe), this makes Credica a single port-of-call
for analysis and automation. Impressive results
and ROI are inevitable for our customers that also
have an active input into our product development
and evolution.
T: 01235 856400
E: info@credica.co.uk
W: www.credica.co.uk
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 44

Each of our Corporate Partners is carefully selected for
their commitment to the profession, best practice in the
Credit Industry and the quality of services they provide.
We are delighted to showcase them here.
THEY'RE WAITING TO TALK TO YOU...
Hays Credit Management is a national specialist
division dedicated exclusively to the recruitment of
credit management and receivables professionals,
at all levels, in the public and private sectors. As
the CICM’s only Premium Corporate Partner, we
are best placed to help all clients’ and candidates’
recruitment needs as well providing guidance on
CV writing, career advice, salary bench-marking,
marketing of vacancies, advertising and campaign
led recruitment, competency-based interviewing,
career and recruitment trends.
T: 07834 260029
E: karen.young@hays.com
W: www.hays.co.uk/creditcontrol
The Atradius Collections business model is to support
businesses and their recoveries. We are seeing a
deterioration and increase in unpaid invoices placing
pressures on cashflow for those businesses. Brexit is
causing uncertainty and we are seeing a significant
impact on the UK economy with an increase in
insolvencies, now also impacting the continent and
spreading. Our geographical presence is expanding
and with a single IT platform across the globe we can
provide greater efficiencies and effectiveness to our
clients to recover their unpaid invoices.
T: +44 (0)2920 824700
W: www.atradiuscollections.com/uk/
Shoosmiths’ highly experienced team will work
closely with credit teams to recover commercial
debts as quickly and cost effectively as possible.
We have an in depth knowledge of all areas of debt
recovery, including:
• Pre-litigation services to effect early recovery and
keep costs down • Litigation service • Insolvency
• Post-litigation services including enforcement
As a client of Shoosmiths, you will find us quick to
relate to your goals, and adept at advising you on the
most effective way of achieving them.
T: 03700 86 3000
E: paula.swain@shoosmiths.co.uk
W: www.shoosmiths.co.uk
Forums International has been running Credit and
Industry Forums since 1991 covering a range of
industry sectors and international trading. Attendance
is for credit professionals of all levels. Our forums
are not just meetings but communities which
aim to prepare our members for the challenges
ahead. Attending for the first time is free for you to
gauge the benefits and meet the members and we
only have pre-approved Partners, so you will never
intentionally be sold to.
T: +44 (0)1246 555055
E: info@forumsinternational.co.uk
W: www.forumsinternational.co.uk
Data Interconnect provides ERP-agnostic AR
software. The Corrivo platform transmits invoices
in multiple formats using tax compliant templates
custom-designed for your business. Corrivo expedites
collections, reconciliation and dispute processes with
flexible workflow tools for creating and assigning tasks,
limits, chase paths or stops and a self-service portal
where customers can query, comment, dispute or pay.
Corrivo manages data securely and efficiently so that
you can manage your customers and cashflow better.
T: +44 (0)1367 245777
E: sales@datainterconnect.co.uk
W: www.datainterconnect.com
Serrala optimizes the Universe of Payments for
organisations seeking efficient cash visibility
and secure financial processes. As an SAP
Partner, Serrala supports over 3,500 companies
worldwide. With more than 30 years of experience
and thousands of successful customer projects,
including solutions for the entire order-to-cash
process, Serrala provides credit managers and
receivables professionals with the solutions they
need to successfully protect their business against
credit risk exposure and bad debt loss.
T: +44 118 207 0450
E: contact@serrala.com
W: www.serrala.com
American Express® is a globally recognised
provider of business payment solutions, providing
flexible capabilities to help companies drive
growth. These solutions support buyers and
suppliers across the supply chain with working
capital and cashflow.
By creating an additional lever to help support
supplier/client relationships American Express is
proud to be an innovator in the business payments
space.
T: +44 (0)1273 696933
W: www.americanexpress.com
C2FO turns receivables into cashflow and payables
into income, uniquely connecting buyers and
suppliers to allow discounts in exchange for
early payment of approved invoices. Suppliers
access additional liquidity sources by accelerating
payments from buyers when required in just two
clicks, at a rate that works for them. Buyers, often
corporates with global supply chains, benefit from
the C2FO solution by improving gross margin while
strengthening the financial health of supply chains
through ethical business practices.
T: 07799 692193
E: anna.donadelli@c2fo.com
W: www.c2fo.com
Esker’s Accounts Receivable (AR) solution removes
the all-too-common obstacles preventing today’s
businesses from collecting receivables in a
timely manner. From credit management to cash
allocation, Esker automates each step of the orderto-cash
cycle. Esker’s automated AR system helps
companies modernise without replacing their
core billing and collections processes. By simply
automating what should be automated, customers
get the post-sale experience they deserve and your
team gets the tools they need.
T: +44 (0)1332 548176
E: sam.townsend@esker.co.uk
W: www.esker.co.uk
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 45

INTRODUCING OUR
CORPORATE
PARTNERS
For further information and to discuss the
opportunities of entering into a Corporate
Partnership with the CICM, please contact
corporatepartners@cicm.com
‘‘
“I can proudly display
that I am a member of an
organisation filled with
like-minded professionals
constantly looking forward
on behalf of the industry,
its members and their
businesses”
Vince Butler MCICM
Onguard is a specialist in credit management
software and a market leader in innovative solutions
for Order to Cash. Our integrated platform ensures
an optimal connection of all processes in the Order
to Cash chain and allows sharing of critical data. Our
intelligent tools can seamlessly interconnect and
offer overview and control of the payment process,
as well as contribute to a sustainable customer relationship.
The Onguard platform is successfully used
for successful credit management in more than 50
countries.
T: 020 3868 0947
E: lisa.bruno@onguard.com
W: www.onguard.com
Bottomline Technologies (NASDAQ: EPAY) helps
businesses pay and get paid. Businesses and banks
rely on Bottomline for domestic and international
payments, effective cash management tools, automated
workflows for payment processing and bill review
and state of the art fraud detection, behavioural
analytics and regulatory compliance. Every day, we
help our customers by making complex business
payments simple, secure and seamless.
T: 0870 081 8250
E: emea-info@bottomline.com
W: www.bottomline.com/uk
With 130+ years of experience, Graydon is a leading
provider of business information, analytics, insights
and solutions. Graydon helps its customers to make
fast, accurate decisions, enabling them to minimise
risk and identify fraud as well as optimise opportunities
with their commercial relationships. Graydon
uses 130+ international databases and the information
of 90+ million companies. Graydon has offices in
London, Cardiff, Amsterdam and Antwerp. Since 2016,
Graydon has been part of Atradius, one of the world’s
largest credit insurance companies.
The value of
CICM MEMBERSHIP
Vince Butler MCICM
Managing Director,
VTK Investigations Ltd
T: +44 (0)208 515 1400
E: customerservices@graydon.co.uk
W: www.graydon.co.uk
info@cicm.com
www.cicm.com
01780 722900
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 46

The software platform to automate and
optimise your order-to-cash process
Connect your organisation with your customers.
Manage risks and decrease DSO by 20%.
Connecting data. Connecting you.
www.vismaonguard.com
+44 (0) 20 396 683 24
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 47

www.tcmgroup.com
Probably thebest debt collection network worldwide
Moneyknows no borders—neither do we
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 48

MARKETING & EDUCATION
Virtual Classes
for 2021
Get CICM qualified by attending
Virtual Classes: The best of both worlds.
Home study does not mean you have to study alone. Our ‘gold standard’
distance learning offer, our Virtual Classes have the greatest success
rate of all our packages. Your study will be supported and led by one of
our experienced CICM Tutors via a series of virtual classes and activities,
which are interactive, challenging and fun.
LEVEL
2
Commercial
LEVEL
3
Business
LEVEL
5
Telephone
Consumer Collections
Consumer Telephone Collections
Environment – April 19 at 7pm – 9pm
Business Law – April 8 at 7pm – 9pm
Credit Management (Trade, Export & Consumer) – April 19 at 7pm – 9pm
Advanced Credit Risk Management
Compliance with legal, regulatory, ethical and social requirements
Process Improvement
Strategic Planning
Legal Proceedings and Insolvency
Strategic Communications and Leadership
Book your place today, visit www.cicm.com
or contact a member of our team on 01780 722900

$
Advancing
Careers
Advancing
Best Practice
Advancing
Connections
Advancing
Skills
Advancing
Thinking
Advancing
Business
ADVANCING THE
CREDIT PROFESSION
01780 722900 | www.cicm.com
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 50

EDUCATION & MARKETING
CICM Virtual Training is an ‘access anywhere’ range of interactive, online training
courses, designed to give you the skills and tools you need to thrive in your credit
work. Each training course offers high quality approaches to credit-related topics, and
practical skills that can be used in your workplace. A highly qualified trainer, with an
array of credit management experience, will guide you through the subject to give you
practical skills, improved results and greater confidence.
These are pre-recorded training
sessions that you can access
anywhere and at anytime. Short,
sharp and to the point – these suit
you if you are short on time, or need
a quick introduction or update on a
subject.
These are live, interactive sessions,
delivered virtually by a qualified trainer,
experienced in the subject. Through
a series of tasks and discussions, you
will access a hands-on training session
that offers the best practice approach to
essential credit and debt skills.
NEXT VIRTUAL
WORKSHOPS
Advanced Skills in Collections – April 21 at 11:30am
Collection Skills For The New Future – April 21 at 9.30am
Best Practice Skills To Access Credit Risk – April 21 at 1.30pm
MEET YOUR TRAINER: Jules Eames FCICM(Grad); PGCE, is a qualified teacher,
trainer and credit manager with experience in credit and debt specialisms across the
O2C spectrum and ancillary businesses, in consumer, B2B and export markets.
INTRODUCTORY PRICE £90.00+VAT per person. For group training, please contact info@cicm.com
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 51

MARKETING & EDUCATION
CICM Redundancy
help and advice
CICM is here to help anyone at risk
of redundancy or looking for work.
We have all the guides and advice
you need to help you back on your feet.
HELP AND
ADVICE
TOOLS TO HELP
YOU BACK TO WORK
For further details contact: 01780 722900 | www.cicm.com | info@cicm.com
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 52

BRANCH NEWS
Standing out from the crowd
East of England branch
EAST of England Branch virtual
Annual General Meeting on 10
February was opened by two
guest speakers. The first was Paul
Atkinson of FRP Advisory LLP
who updated attendees on the
present insolvency position following a rush of
liquidations and administrations with few CVAs
last Spring, and then Government intervention
on furlough, CBILs, BBLs and subsidised rates.
The Government’s debtor friendly approach
suspended wrongful trading prosecutions
and effectively halted statutory demands and
winding up petitions.
Furlough and CBILs frauds had increased
and a tsunami of business failures was forecast
for Q2 and Q3. He advised credit managers to
use every tool available including keeping a
close eye on debtors' supply chains.
Liam Hastings of Hastings and Co, solicitors,
stressed that risk was not just about granting
credit. It was worth carrying out a risk
assessment on builders who want payment up
front, and he echoed Paul’s advice to keep an
eye on customer’s supply chains. Tips on how
to do this included Google searches, looking
at short trading periods, director’s history and
previously failed companies.
Chairman Atul Vadher reported on a
challenging year, with the pandemic allowing
just one physical event in 2020 – the AGM. The
Branch had adapted quickly, holding five wellattended
webinars with excellent speakers
Pete Whitmore (CICM Chair), Chris Sanders
(CICMQ), Jules Eames (CICM HQ), Chris Parker
The Branch was
proud to have held
CICM’s first Branch
webinar in 2020, the
first 2021 webinar
and the first AGM.
The LinkedIn group
has grown from 210
members to 742
and it is a lively
debating platform.
(Goodman Masson), William Plom and Andrew
Martin (Hays),
The theme had been ‘standing out from
the crowd’ with tips on best practice, the
credit manager’s playbook, collections during
COVID-19, emergency guide to credit, the way
forward post COVID-19, looking for and applying
for jobs, and advice on preparing for interviews.
Feedback was good, with many viewing the
recordings on the CICM website.
The Branch was proud to have held CICM’s
first Branch webinar in 2020, the first 2021
webinar and the first AGM. The LinkedIn group
has grown from 210 members to 742 and it is a
lively debating platform.
A 10-strong Branch Committee was elected
– eight existing members plus Andy Moylan
and Naimesh Khetia. Atul thanked retiring
Committee members Ron Bidwell and Andrew
Martin, and, in particular, Carol Baker, for her
contribution over many years.
Branch Treasurer Mark Maynard reported
that due to the lack of physical events
expenditure was 80 percent lower and no grant
was required for 2021.
Atul Vadher outlined the plans for events
in 2021, which includes more webinars and,
hopefully, physical events from Q3. He closed a
stimulating and enjoyable evening by thanking
our two speakers, CICM HQ for hosting, and
everyone for attending.
Author - Richard Brown, CICM East of England
Branch Vice Chairman
SHEFFIELD & District Branch members
and guests logged into their first ever
virtual branch meeting on 23 February
to attend the Annual General Meeting
(AGM) and hear from recruitment
specialist and guest speaker Matt Civil
of Sharp Consultancy. The attendees
joined the evening meeting with their
own refreshments in hand and Branch
Secretary Myron Fedak opened the
meeting before handing over to Matt.
Matt talked us through how the market
has changed since pre-COVID times
and what he thinks the future will look
like for credit control with more remote
working and location flexibility. He took
us through the on-boarding process of
attracting and retaining the right staff
and how benefits including a CICM study
Attracting the right staff
Sheffield & District branch
support packages can assist. Following a
question and answers session, where the
merits of being interviewed by a robot
were discussed, Matt gave us a snapshot
from a recent Salary Survey looking at
various credit roles.
The meeting was then handed back
to Secretary Myron Fedak who opened
the AGM, and dealt with the formalities
of apologies, approval of the 2020 AGM
Minutes, approval of the 2020 Branch
Financial Report, nominations and
elections of Committee members for 2021
and then a review of the 2020 branch
event and plans for 2021 events. Myron
concluded the AGM with thanking
retiring Branch Treasurer Graham Browes
for his many years of dedicated service
to the branch in a number of committee
roles over the years. Branch Chair, Paula
Uttley, also recorded her personal thanks
to Graham for his many years’ service to
the Branch and said that it had been a
pleasure that her first task as chair in 2018
had been to nominate Graham Browes
and Myron Fedak for Meritorious Service
Awards, which had been awarded and so
very well deserved.
The meeting was then handed back
to Myron and as all official business
had been concluded, the meeting was
closed. Many thanks to Matthew Civil of
Sharp Consultancy for his presentation,
Nicola Harris for tech support and to all
attending members and guests for making
the evening a great success.
Author: Paula Uttley, Branch Chair
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 53

CICM MEMBER
EXCLUSIVE
Your CICM lapel badge
demonstrates your commitment to
professionalism and best practice
TAKE PRIDE IN
WEARING YOUR BADGE
If you haven’t received your badge
contact: cicmmembership@cicm.com
CICM has launched
critical AR Factsheets
for EMEA countries
Powered by
Powered by Baker Ing, country specific factsheets have been
provided for up-to-date information on payment performance,
legislation, and the effects of COVID-19 and Brexit. The
factsheets are designed for credit professionals, and they
cover legal business forms, credit risk data, collections
protocols, enforcement and much more.
Credit professionals need granular knowledge of the situation
in their clients’ territories. Whether you need an off-the-peg
checklist for dealing with a new country, or you need on-thespot
information to help review risk strategies and Credit
Policies, these insightful documents will help.
Powered by
EU Factsheet
COVID-19 RESPONSE
Powered by
Germany has introduced a raft of measures and programmes to help combat the
economic impact of COVID-19 containment measures. Here we present what we
consider to be the most significant and interesting. This section is not exhaustive.
Loans and grants – employees:
Three main tranches of wage subsidy have been introduced.
The most wide-reaching is “Kurzarbeit”. This programme existed before COVID-19.
It is a social security programme whereby the government will subsidy employees’
wages up to 60% (more for those with children) in order to allow their employers to
reduce their hours (and their expenditure on wages) instead of laying them off.
Under COVID provisions, the subsidy has been increased. From the fourth month,
the rate is increased to 70% of flat-net renumeration for those households without
children and 77% for those households with children. From the seventh month, it is
increased to 80% for those households without children and 87% for those
households with children. In September, there was a decree to make this benefit
more flexible (e.g., reducing the minimum number of employees effected by
working hours reduction to 10% for the business the qualify) and to extend the
period for receiving this benefit from 12 to 24 months until 31 st December 2021.
Pre-Litigation
Extended ROT; Assigned to the supplier in advance. In accordance with §354a
of the Commercial Code, an advance assignment is effective despite a nonassignment
agreement between the purchaser and any third parties.
Letter before action. Do you have to send a demand letter to a debtor before
going to court?
Freelance artists in Germany can access funds if they work for cultural institutions
funded by the Federal Government. They will be compensated for up to 60% o fees
from cancelled events up to €1,000 and 40% up to €2,500.
Students can access interest-free loans of up to €650 per month for jobs lost due to
the pandemic.
Loans and grants – businesses:
EU Factsheet
GERMANY
As well as the enhanced terms of “Kurzarbeit”, there are a variety of direct loans
and grants available which businesses of different sizes can access.
A grant of up to €150,000 / 80% of fixed costs in the subsidy period is available for
businesses showing decreased sales volumes compared to the same month of the
previous year. This Federal Government grant has been supplemented by some
Federal States’ own grant programmes.
Powered by
Before going to court, and even before filing the claim to the enforcement
authority, a warning notice to the debtor's registered address is
mandatory.
The warning notice should contain;
o The name of the creditor and the basis of the claim
o The total amount of the claim, including any penalty interests
o Prescription on how to transfer the payment, i.e. bank account etc.
o A warning that the claim will be enforced through the enforcement
authority in case the claim is not settled within from the date of the
notice
o Information on how the object to the claim if not acknowledged be
the debtor.
If this measure has been taken and the payment still has not been made after
the two-week notice period (according to the law), the creditor may file for
enforcement.
It is worth noting that, in Germany, you may be ordered to all pay court fees if
you did not send a warning letter to the debtor prior to issuing
proceedings.
Visit cicm.com to view country specific factsheets from,
Germany, Italy, Czech Republic, Spain, France, UK.
CHARTERED
BAKERING.GLOBAL CHARTERED INSTITUTE OF CREDIT MANAGEMENT
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 54

NEW AND UPGRADED MEMBERS
Do you know someone who would benefit from CICM membership? Or have
you considered applying to upgrade your membership? See our website
www.cicm.com/membership-types for more details, or call us on 01780 722903
Fellow
Michael Wykes
Jason Pallister
Studying Member
Eva Ahern
Mona Rathod
Lisa Sayer
Lisa Gater
Ella Harwood
Kuljit Toor
Daniel Cunningham
Andrew Cullen
Mandy Whelan
John Fettes
Samantha Kilty
Chloe O'Connell
Lynn Stewart
Mathew Gillard
Callum Marshall
Joanne Beckett
Helen Addis
Jimena Olindi
Faheem Amir
Katherine Drumm
Coral Collins
Marie Gerstner
Kevin Donovan-Jarvis
Dael Anglin
Victoria Littlewood
Teresa Burns
Annie Painter
Caroline Jackson
Carly Taylor
Jacobus Bakker
Jack Finch
Associate
Charleyann Finedon
John Sewell
Diane Holly
James Rutter
Aisling Millar
Member by exam
Jodie Foster
Members (Vocational)
Andrew Baker
Ian Caulfield
Eileen Bell
Victoria Bougen
Scott Jones
Andrea Tancredi
Affiliate
Jihad Hassan
Holly Scott-Donaldson
Lisa Jenkins
James Conroy
Alyson Bendon
Pamela Richardson
Steven Lofty
Steven Ewen
Vladimir Gotchev
AWARDING BODY
Congratulations to the following, who successfully achieved Diplomas
Level 3 Diploma in Credit & Collections (ACICM)
NAME
Jonathan Ferguson
Esra Tercan
Level 5 Diploma in Credit & Collections Management MCICM(Grad)
NAME
Asha Shah
Angelina D'Abbraccio
WE WANT YOUR BRANCH NEWS!
Get in touch with the CICM by emailing branches@cicm.com with your branch news and event reports.
Please only send up to 400 words and any images need to be high resolution to be printable, so 1MB plus.
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 55

B A K E R I N G . G L O B A L
G L O B A L O U T L O O K
Eastern Europe & Central
Asia Economic Outlook
January 2021
BAKERING.GLOBAL
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 56

HR MATTERS
The age-old argument
Data, discrimination, and employers’ responsibility
to support victims of domestic abuse.
IS an employer bound to check
sources of information used by
employees? The Court of Appeal
thought so when it dismissed
an appeal against a High Court
decision. The case involved Travel
Counsellors Limited (TCL) which had
breached its confidentiality obligations
by using client information brought by exemployees
of a competitor, Trailfinders
Limited.
Following the departure of a number
of Trailfinders employees to TCL,
Trailfinders alleged that they took
with them names, contact details and
other information about clients from
a Trailfinders computer. In addition to
pursuing claims against the employees,
AUTHOR – Gareth Edwards
Trailfinders argued that TCL had acted
in breach of an equitable obligation of
confidence.
TCL did not supply new franchisees
with potential customers and so travel
consultants were expected, and positively
encouraged, to bring their customer
contact list with them. TCL then added
the client information brought by the
new travel consultants to its computer.
The High Court said that a reasonable
person in the position of TCL’s CEO
would have been aware that this new
information would have been taken from
the previous employer and it would be
regarded as confidential. By receiving
such information, TCL acted in breach of
an equitable obligation of confidence.
TCL appealed, arguing that an equitable
obligation of confidence would only arise
if the recipient knew, or had notice that
the information was confidential when
objectively assessed by a reasonable
person. The Court of Appeal considered
whether a reasonable person would have
made enquiries to determine whether
the information, or some of it, may be
confidential to another; it noted that if a
reasonable person would have, then an
obligation of confidentiality arises.
So, when dealing with information
provided by new employees, it is
important for employers to find out the
source and to make the relevant enquiries
in order to avoid a potential breach of
confidence claim.
Discrimination in a recruitment process
IN Clements v Guy's and St Thomas' NHS
Foundation Trust, a tribunal held that a
middle-aged man who performed best
at interview, who hadn’t been appointed,
was discriminated against.
Mr Clements, a 50-year-old man, had
applied for a project manager role at
the trust which involved developing
new IT systems. All candidates selected
for interview had to prepare a short
presentation and were informed that
points would be awarded for ‘original, fun
yet thoughtful and punchy presentations’.
Clements had the highest scoring
presentation, although another candidate
(a younger female) came a close second.
THE Government has published an open
letter to employers outlining how they
need to provide support to victims of
domestic abuse.
The letter outlines how employers need
to take practical steps to raise awareness
of those who are suffering from domestic
abuse and procedures should be in place
to enable warning signs to be noticed, and
to enable workers to access the support
they need.
The Department for Business, Energy
and Industrial Strategy has published
a report about this, and ACAS has
updated its working from home during
the coronavirus pandemic guidance to
include a section on domestic violence and
Following interview, the candidates
were introduced to members of the team
they would be working with. Clements’
feedback concentrated on how he was
different to the outgoing post holder
(another younger female) and that others
might find it difficult to give instructions
to a more mature person. The tribunal
heard evidence that the team members
were predominantly female and younger
than Clements. It also heard evidence
about the views of some of the team as
portrayed on social media.
The tribunal found that feedback from
the team, despite not being part of the
formal interview process, was given
Employers and domestic abuse
considerable weight by the selection
panel. It was also not objective.
The selection panel selected the
younger female candidate for a number
of subjective reasons including Clements'
having an 11-year-old daughter and
because it considered it better to employ
someone at an early stage of their career
who then might go to develop their career
over a longer period of time elsewhere
within the NHS. This was communicated
to Clements.
The tribunal ordered the trust to pay
Clements £5,969.86 by way of injury to
feelings along with compensation of
£1,610.28.
abuse. In light of the Government’s report
and updated ACAS guidance, employers
are advised to review their home
working polices to ensure that there are
appropriate measures in place to support
victims of domestic abuse. Employers
should also consider developing specific
domestic abuse policies. The report
recommends appointing Domestic Abuse
Workplace Champions, who are trained to
spot the potential signs of domestic abuse
and to act as a confidante and signposting
support services where appropriate.
Gareth Edwards is a partner
in the employment team at
VWV.gedwards@vwv.co.uk
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 57

ALL OUT OF OPTIONS
HAVE YOU CONSIDERED A CVA?
menzies.co.uk/creditor-services
Credit managers are generally
one step removed from decisions
about whether a business should
consider entering an insolvency
process. Their day-to-day focus is
on keeping the business going by
protecting its cash position,
making sure debts are well managed
and credit lines are kept
open as far as possible.
However, living and working in
unprecedented times has required a
new way of thinking. As well as
adjusting to remote working during
the pandemic, credit managers have
been required to support senior-level
decision making, often at short
notice, in what has been an incredibly
fast-moving and challenging year
for many businesses.
Now, with the new ‘roadmap’ to
recovery, set out by the Prime
Minister, Boris Johnson, on 22
February, many businesses can take
stock of the financial damage caused
by the pandemic and put in place
their own restart plans. In the coming
months, a significant number of them
could take the decision to cease
operating, simply because cash
reserves have dwindled to nothing,
debts have accumulated and trading
relationships have long since broken
down.
SMALL BUSINESSES AT RISK OF
INSOLVENCY
A research study published at the
start of the year by the London
School of Economics’ Centre for
Economic Performance (CEP) and
the Alliance for Full Employment
(AFFE) warned of a wave of insolvencies
by the spring, unless further
policy action was forthcoming.
Specifically, the study suggested that
around 900,000 small businesses
could be at risk of failing by April.
Since then, of course, Chancellor
Rishi Sunak has announced further
fiscal support measures with extensions
to furlough, self-employed
support, business grants, loans and
VAT cuts, bringing the total cost of
support to over £400bn. While this is
welcome news for businesses
convinced they can bounce back
when the time comes, others are
facing the realisation that their
operational capacity has been
drastically limited by social distancing
rules, and in some cases
demand for their products or services
may have changed or no longer
exist. For these businesses, difficult
decisions will need to be taken about
their future viability, sooner rather
than later.
“As the economy starts to
open up again, there will be
greater risk of business
failure and credit managers
will need to be primed and
ready to protect cashflow
through this tricky trading
period. ”
For businesses with diminished cash
reserves and debts that have mounted
up during the pandemic, the risks
will obviously be greater. If they take
on too much new business all at
once, this could result in overtrading,
putting pressure on cashflow and
testing lender relationships. Some
lenders may require companies to
commit to servicing or paying off
debt before providing further funding
for working capital.
SECURING LENDER
CONFIDENCE
To avoid this scenario, businesses
that are confident that they can
generate revenues and restart
profitably, may be able to ease some
of the pressure on their business
model by using restructuring tools
such as the Company Voluntary
Arrangement, abbreviated to CVA.
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 58
In the last couple of years, CVAs
have been popular with High Street
retailers and other businesses with
large property portfolios to write
down debts owing to commercial
property landlords and renegotiate
rents going forward. However, there
is no reason why they couldn’t also
be used strategically to help
business owners to take control of
their challenging financial situation
and put forward a plan to restructure
their balance sheets and secure
lender confidence.
The structure of the CVA is bespoke
to the business in question and may
take many different forms. On the
one hand it may look like a debt
compromise agreement, setting
aside funds to pay creditors over a
period of time and possibly at a lower
value. Alternatively a third-party
investor, such as a private equity
house could inject funding to facilitate
a one-off payment of all creditors,
thus clearing the debt and
helping to obtain new working capital
finance. In some cases, the
proposed CVA plan could be based
on a combination of the two - securing
third-party finance and surplus
income set aside for distribution.
A CVA won’t be the right option for all
cash-strapped businesses, despite
their recent popularity. Sometimes
CVAs work better than other
insolvency processes as a means of
protecting business continuity. For
businesses where costs have risen
and revenues dipped significantly, it
may not be possible to generate
surplus income, and in these
circumstances, even the most
well-considered CVA proposal is
likely to fail. For this reason, it is vital
that business owners and their
finance teams take steps to ensure
that their core business proposition is
commercially viable before
considering entering a CVA on route
to recovery or supporting one.

PUTTING YOUR BEST FOOT
FORWARD
First and foremost, the business
should prepare cashflow forecasts to
gain a better view of where the
business might be in six months or a
year’s time. The credit manager could
assist in this process by providing an
analysis of the debtor ledger, the
likelihood of securing payment and
the timeframe for payment. Once the
forecasting models are in place, they
can be used to gauge the impact that
changes to the timeline of the
Government’s roadmap, for example,
could have on the company’s cash
position. Alternatively, forecasts can
be remodeled to show the impact of a
cash injection from some asset based
lending, such as an invoice
discounting facility, together with the
associated costs.
When formulating a CVA proposal, the
business owner may be able to
persuade creditors to accept a
reduced payment, on the basis that
doing so could secure its future and
preserve their trading relationship. For
example, creditors might accept 10p
or 50p for every £1 owed to them and
be prepared to write off the remainder.
Such agreements can help to reduce
historic debt and underpin a business
with otherwise solid foundations,
giving lenders and investors the
confidence to inject funding. It is
important here for credit managers to
carefully consider their policy and
position on the historic debt versus
the longer-term, more fruitful post
recovery trading relationship.
UNDERSTANDING THE CVA
OPTION
For the credit manager, it is important
to understand how the CVA might be
used in the coming months. For
example, if a customer gives notice of
a CVA, the credit manager will need to
assess it to work out how much they
are likely to receive, the timeframe for
payment and what the prospects of
future revenue are. Depending on the
risk profile of the customer and the
trading relationship, if the credit line is
likely to continue to tighten and the
relationship worsen, the business
might choose to cut its losses and
reject the proposal.
BRIGHTER THINKING
When a customer fails to pay and enters liquidation, administration or
CVA, it’s often easier to write off the debt rather than waste time
reviewing paperwork and beginning a process that you may not have
experience of or the time for. However, before simply discarding the
debt, why not consider utilising our Creditor Services offering.
Our award winning team can help you to remove the administrative
burden so, the next time you have a customer who becomes
insolvent, remember that we can assist with the following:
Reviewing and analysing all
Insolvency Reports and
correspondence
Fully explaining the process,
your rights and likely outcomes
in user friendly terms
Completing and lodging your
claim forms and proxy forms
If you believe any financial misconduct has
taken place, our specialist in house forensics
team can assist. This includes investigations
into any fraudulent trading, wrongful trading,
unlawful dividends, asset tracing and the
recovery of voidable dispositions.
menzies.co.uk/creditor-services
Alternatively, the credit manager might
be challenged by the finance director
to support them in compiling a CVA
proposal. This is complex and
requires advice and guidance from a
trusted business recovery specialist to
formulate the strategy on how to
proceed. To succeed in winning the
support of creditors and lenders, the
plan will need to present a well-evidenced
view of what future revenues,
profits and cash collection will look
like. It will also need to be structured
in a way that is attractive to all stakeholders.
However, timing is key; as
businesses plan to restart, it is
important not to move too soon. It is
better to wait until the business can be
certain of meaningful revenue and can
see a return to operating profitably.
“The pandemic has been a
massive learning curve for
managers at all-levels and, as
the opportunity to restart
moves closer, credit
managers will need to step
up once again. ”
Representing you at Creditor
Meetings and on Creditors'
Committees
Assisting you with any
Retention of Title Claims
Providing you with our expert
advice
Bethan Evans
Partner
+44 (0)2920 447 512
bevans@menzies.co.uk
Simon Underwood
Partner
+44 (0)2074 651 932
sunderwood@menzies.co.uk
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 59

TAKE CONTROL OF
YOUR CREDIT CAREER
COLLECTIONS/CREDIT MANAGER
South Redditch, up to £55,000 + benefits
The opportunity to work within a company that has been
instrumental in the battle against Covid-19 has become available.
You will be looking after the whole customer collection cycle
and be heavily involved in the direction of the credit team.
Ideally you will have a passion for a business partnering style
role and a background in collections/credit.
Ref: 3913563
Contact Dan Day on 07734 726142
or email dan.day@hays.com
SENIOR CREDIT CONTROLLER (LITIGATION)
Brentford, up to £35,000 + OTE of circa £6,500
A world leading provider of niche services to multiple industries
is looking for a senior credits controller. You will be responsible
for the collection of debt on behalf of the UK head office with the
ambition to collect as much money as possible before referring
for litigation, whilst maintaining key relationships both internally
and externally. You will have previous experience in credit control
and litigation. Ref: 3936343
Contact Mark Ordoña on 07565 800574
or email mark.ordona@hays.com
CREDIT RISK MANAGER
Leeds, up to £50,000
A rare opportunity for a career driven credit risk manager to
join a growing global manufacturing business. This is a people
management role where you will be responsible for B2B credit risk
analysis and reporting. You will be a dynamic credit professional
with extensive credit risk experience and ideally be CICM qualified.
This is a fast-paced role where you will lead your own team and be
rewarded accordingly. Ref: 3939576
Contact Jasmine Chambers on 0113 200 3735
or email jasmine.chambers@hays.com
CREDIT CONTROLLER (LEGAL SECTOR)
Colchester, Essex, up to £26,000
An established law firm with offices in London and Colchester
are looking for an experienced credit controller to work from its
Colchester, Essex office. This will involve you working closely with
the firms fee earners and partners to investigate unpaid fees.
You will produce debtors reports and manage WIPs. This is a
business-critical role to manage cash flow and maintain ongoing
business relationships. Ref: 3932476
Contact Andy Jarman on 01206 766621
or email andy.jarman@hays.com
hays.co.uk/creditcontrol
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 60

TRAIN FOR THE
YEAR AHEAD
My Learning – free skills
training from Hays
To find out more visit
hays.co.uk/mylearning
CREDIT CONTROLLER
Newcastle, £22,000-£23,000
An SME manufacturer is currently looking to appoint a credit
controller to join its business. You will be reporting into the finance
director and you have full responsibility of the debtor ledger as
well as maintaining effective cash collection and other ad-hoc
duties such as self-billing and processing supplier invoices. The role
requires excellent communication and strong customer service skills
and the ability to work on your own initiative. Ref: 3936247
Contact Sarah Smith on 0333 010 4882
or email sarah.smith2@hays.com
CREDIT CONTROLLER
Bristol, £20,000-£25,000
An opportunity to join a rapidly growing business in the
manufacturing and production industry is available for a credit
controller. You will need to build relationships with customers
and internal business partners, as well as chase debts with good
communication skills, ensuring you are proactively monitoring
customer credit limits. You will be working alongside the treasury
manager to support the wider group on cash collection and
management. Ref: 3933943
Contact Katy Russell on 07702 097944
or email katy.russell@hays.com
This is just a small selection of the many opportunities we have
available for credit professionals. To find out more visit us
online or contact Kabir Gulabkhan, Hays Credit Management
UK Lead on 020 3465 0020
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 61

View our digital version online at www.cicm.com
Log on to the Members’ area, and click on the tab labelled
‘Credit Management magazine’
Just another great reason to be a member
Credit Management is distributed to the entire UK and international
CICM membership, as well as additional subscribers
Advancing the credit profession
www.cicm.com | +44 (0)1780 722900 | editorial@cicm.com
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 62

CHARTERED INSTITUTE OF CREDIT MANAGEMENT
ONLINE EVENTS
Keep an eye on our events calendar at CICM.COM for all CICM events!
Visit our website and book online at: www.cicm.com/cicm-events
Many of our events are now available
online, along with a new series of
live recorded webinars for the credit
profession.
Studying at a
distance
with CICM
Visit our website for
updates and instructions
on how to register...
From interactive virtual classrooms to supporting texts,
from mentor advice to peer support, we’ve got it all.
Contact CICM for more information on any of these services,
or check them out at cicm.com
Giving you the tools to continue
working through this crisis.
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 63

Cr£ditWho?
CICM Directory of Services
COLLECTIONS
INTERNATIONAL COLLECTIONS
COLLECTIONS LEGAL
Controlaccount Plc
Address: Compass House, Waterside, Hanbury Road,
Bromsgrove, Worcestershire B60 4FD
T: 01527 549 522
E: sales@controlaccount.com
W: www.controlaccount.com
Controlaccount Plc provides an efficient, effective and ethical
commercial debt recovery service focused on improving business
cash flow whilst preserving customer relationships and established
reputations. Working with leading brand names in the UK and
internationally, we deliver a bespoke service to our clients. We
offer a no collect, no fee service without any contractual ties in.
Where applicable, we can utilise the Late Payment of Commercial
Debts Act (2013) to help you redress the cost of collection. Our
clients also benefit from our in-house international trace and
legal counsel departments and have complete transparency and
up to the minute information on any accounts placed with us for
recovery through our online debt management system, ClientWeb.
Premium Collections Limited
3 Caidan House, Canal Road
Timperley, Cheshire. WA14 1TD
T: +44 (0)161 962 4695
E: paul.daine@premiumcollections.co.uk
W: www.premiumcollections.co.uk
For all your credit management requirements Premium
Collections has the solution to suit you. Operating on a national
and international basis we can tailor a package of products and
services to meet your requirements.
Services include B2B collections, B2C collections, international
collections, absconder tracing, asset repossessions, status
reporting and litigation support.
Managed from our offices in Manchester, Harrogate and Dublin our
network of 55 partners cover the World.
Contact Paul Daine FCICM on +44 (0)161 962 4695 or
paul.daine@premiumcollections.co.uk
www.premiumcollections.co.uk
Keebles
Capitol House, Russell Street, Leeds LS1 5SP
T: 0113 399 3482
E: charise.marsden@keebles.com
W: www.keebles.com
Keebles debt recovery team was named “Legal Team of the Year”
at the 2019 CICM British Credit Awards.
According to our clients “Keebles stand head and shoulders
above others in the industry. A team that understands their client’s
business and know exactly how to speedily maximise recovery.
Professional, can do attitude runs through the team which is not
seen in many other practices.”
We offer a service with no hidden costs, giving you certainty and
peace of mind.
• ‘No recovery, no fee’ for pre-legal work.
• Fixed fees for issuing court proceedings and pursuing claims to
judgment and enforcement.
• Success rate in excess of 80%.
• 24 hour turnaround on instructions.
• Real-time online access to your cases to review progress.
Guildways
T: +44 3333 409000
E: info@guildways.com
W: www.guildways.com
Guildways is a UK & International debt collection specialist with over
25 years experience. Guildways prides itself on operating to the
highest ethical standards and professional service levels. We are
experienced in collecting B2B and B2C debts. Our service includes:
• A complete No collection, No Fee commission based service
• 10% plus VAT commission for UK debts
• Commission from 22% plus VAT for International debts
• 24/7 online access to your cases through our CaseManager portal
• Direct online account-to-account payments, to speed up
collections and minimise costs
If you are unable to locate your customer, we also offer a no trace, no
fee, trace and collect service.
For more information, visit: www.guildways.com
INTERNATIONAL COLLECTIONS
Baker Ing International Limited
Office 7, 35-37 Ludgate Hill, London. EC4M 7JN
Contact: Lisa Baker-Reynolds
Email: lisa@bakering.global
Website: https://www.bakering.global/contact/
Tel: 07717 020659
Baker Ing International is a dedicated team of Credit industry
experience that, combined, covers time served in most industries.
The team is wholly comprised of working Credit Manager’s
across the Globe with a minimum threshold of ten years working
experience within Credit Management. The team offers a
comprehensive service to clients - International Debt Recovery,
Credit Control, Legal Services & more
Our mission is to help companies improve the cost and efficiency
of their Credit Management processes in order to limit the risks
associated with extending credit and trading around the globe.
How can we help you - call Lisa Baker Reynolds on
+44(0)7717 020659 or email lisa@bakering.global
Lovetts Solicitors
Lovetts, Bramley House, The Guildway,
Old Portsmouth Road,
Guildford, Surrey, GU3 1LR
T: 01483 347001
E: info@lovetts.co.uk
W: www.lovetts.co.uk
With more than 25yrs experience in UK & international business
debt collection and recovery, Lovetts Solicitors collects £40m+
every year on behalf of our clients. Services include:
• Letters Before Action (LBA) from £1.50 + VAT (successful in 86%
of cases)
• Advice and dispute resolution
• Legal proceedings and enforcement
• 24/7 access to your cases via our in-house software solution,
CaseManager
Don’t just take our word for it, here’s some recent customer
feedback: “All our service expectations have been exceeded.
The online system is particularly useful and extremely easy to
use. Lovetts has a recognisable brand that generates successful
results.”
Atradius Collections Ltd
3 Harbour Drive,
Capital Waterside, Cardiff, CF10 4WZ
Phone: +44 (0)29 20824397
Mobile: +44 (0)7767 865821
E-mail:yvette.gray@atradius.com
Website: atradiuscollections.com
Atradius Collections Ltd is an established specialist in business
to business collections. As the collections division of the Atradius
Crédito y Caución, we have a strong position sharing history,
knowledge and reputation.
Annually handling more than 110,000 cases and recovering over
a billion EUROs in collections at any one time, we deliver when
it comes to collecting outstanding debts. With over 90 years’
experience, we have an in-depth understanding of the importance
of maintaining customer relationships whilst efficiently and
effectively collecting monies owed.
The individual nature of our clients’ customer relationships is
reflected in the customer focus we provide, structuring our service
to meet your specific needs. We work closely with clients to
provide them with a collection strategy that echoes their business
character, trading patterns and budget.
For further information contact Yvette Gray Country Director, UK
and Ireland.
Sterling Debt Recovery
E: info@sterlingdebtrecovery.com
T: 0207 1005978
W: www.sterlingdebtrecovery.com
Sterling specialises in international business debt collection
to get outstanding invoices paid quickly and cost effectively.
Our experienced, enthusiastic collectors achieve results whilst
maintaining a professional image.
We work on a commission only basis with no up-front fees and
no hidden costs. Each client is allocated a named collector for
personal service and regular updates. We collect the majority
of debt without litigation, with our on-site lawyer supporting us
where appropriate.
Where local expertise is required our global network are available
to assist.
CONSULTANCY
Chris Sanders Consulting
T: +44(0)7747 761641
E: enquiries@chrissandersconsulting.com
W: www.chrissandersconsulting.com
Chris Sanders Consulting – we are a different sort of consulting
firm, made up of a network of independent experienced
operational credit & collections management and invoicing
professionals, with specialisms in cross industry best practice
advisory, assessment, interim management, leadership,
workshops and training to help your team and organisation reach
their full potential in credit and collections management. We are
proud to be Corporate Partners of the Chartered Institute of Credit
Management and to manage the CICM Best Practice Accreditation
Programme on their behalf. For more information please contact:
enquiries@chrissandersconsulting.com
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 64

FOR ADVERTISING INFORMATION OPTIONS AND PRICING CONTACT
russell@cabbells.uk 0203 603 7937
COURT ENFORCEMENT SERVICES
CREDIT INFORMATION
CREDIT MANAGEMENT SOFTWARE
Court Enforcement Services
Wayne Whitford – Director
M: +44 (0)7834 748 183 T : +44 (0)1992 663 399
E : wayne@courtenforcementservices.co.uk
W: www.courtenforcementservices.co.uk
EXPERTLY RESOLVED.
We help law firms, in-house debt recovery and legal teams to
enforce CCJs by transferring them up to the High Court. With our
fast, fair and personable approach to service, we work harder to
bring you the sector’s best results without risking client reputation.
• Free Transfer Up process of CCJs to High Court
• Market-leading recovery rates
• Over 100,000 writs, recovering >£187 million since 2014
• Real-time access to cases via our own Award-Winning App
• Our highly trained and certificated agents cover every postcode
in England & Wales.
FAST. FAIR. FOR YOU.
CREDIT INFORMATION
2 0 0 2
CoCredo
Missenden Abbey, Great Missenden, Bucks, HP16 0BD
T: 01494 790600
E: customerservice@cocredo.com
W: www.cocredo.co.uk
CoCredo has 18 years experience in developing credit reports for
businesses and is the current CICM Credit Information Provider
of the Year. Our company data is continually updated throughout
the day and ensures customers have the most current information
available. We aggregate data from a range of leading providers
across over 235 territories and offer a range of services including
the industry first Dual Report, Monitoring, XML Integration and
DNA Portfolio Management.
We pride ourselves in offering award-winning customer service
and support to protect your business.
CEDAR
ROSE
—
R
2 0 2 0
Cedar Rose
3, Georgiou Katsonotou Street,3036, Limassol, Cyprus
E: info@cedar-rose.com T: +357 25346630
W: www.cedar-rose.com
Cedar Rose has been globally recognised as the expert for credit
reports, due diligence and data for the Middle East and North
African countries since 1997. We now cover over 170 countries
with the same high quality, expert analysis and attention to detail
we are well-known and trusted for.
Making best use of artificial intelligence and technology, Cedar
Rose has won several awards including Credit Excellence &
European Business Awards. Our website is a one-stop-shop for
your business intelligence solutions. We are the ultimate source;
with competitive prices and friendly customer service - whether
you need one or one thousand reports.
THE ONLY AML RESOURCE YOU NEED
SmartSearch
SmartSearch, Harman House,
Station Road,Guiseley, Leeds, LS20 8BX
T: +44 (0)113 238 7660
E: info@smartsearchuk.com W: www.smartsearchuk.com
KYC, AML and CDD all rely on a combination of deep data with
broad coverage, highly automated flexible technology with an
innovative and intuitive customer interface. Key features include
automatic Worldwide Sanction & PEP checking, Daily Monitoring,
Automated Enhanced Due Diligence and pro-active customer
management. Choose SmartSearch as your benchmark.
Graydon UK
66 College Road, 2nd Floor, Hygeia Building, Harrow,
Middlesex, HA1 1BE
T: +44 (0)208 515 1400
E: customerservices@graydon.co.uk
W: www.graydon.co.uk
With 130+ years of experience, Graydon is a leading provider of
business information, analytics, insights and solutions. Graydon
helps its customers to make fast, accurate decisions, enabling
them to minimise risk and identify fraud as well as optimise
opportunities with their commercial relationships. Graydon uses
130+ international databases and the information of 90+ million
companies. Graydon has offices in London, Cardiff, Amsterdam
and Antwerp. Since 2016, Graydon has been part of Atradius, one
of the world’s largest credit insurance companies.
Company Watch
Centurion House, 37 Jewry Street,
LONDON. EC3N 2ER
T: +44 (0)20 7043 3300
E: info@companywatch.net
W: www.companywatch.net
Organisations around the world rely on Company Watch’s
industry-leading financial analytics to drive their credit risk
processes. Our financial risk modelling and ability to map medium
to long-term risk as well as short-term credit risk set us apart
from other credit reference agencies.
Quality and rigour run through everything we do, from our unique
method of assessing corporate financial health via our H-Score®,
to developing analytics on our customers’ in-house data.
With the H-Score® predicting almost 90 percent of corporate
insolvencies in advance, it is the risk management tool of choice,
providing actionable intelligence in an uncertain world.
CREDIT MANAGEMENT SOFTWARE
ONGUARD
T: 020 3868 0947
E: lisa.bruno@onguard.com
W: www.onguard.com
Onguard is specialist in credit management software and market
leader in innovative solutions for order to cash. Our integrated
platform ensures an optimal connection of all processes in the
order to cash chain and allows sharing of critical data.
Intelligent tools that can seamlessly be interconnected and
offer overview and control of the payment process, as well as
contribute to a sustainable customer relationship.
In more than 50 countries the Onguard platform is successfully
used for successful credit management.
Tinubu Square UK
Holland House, 4 Bury Street,
London EC3A 5AW
T: +44 (0)207 469 2577 /
E: uksales@tinubu.com
W: www.tinubu.com
Founded in 2000, Tinubu Square is a software vendor, enabler
of the Credit Insurance, Surety and Trade Finance digital
transformation.
Tinubu Square enables organizations across the world to
significantly reduce their exposure to risk and their financial,
operational and technical costs with best-in-class technology
solutions and services. Tinubu Square provides SaaS solutions
and services to different businesses including credit insurers,
receivables financing organizations and multinational corporations.
Tinubu Square has built an ecosystem of customers in over 20
countries worldwide and has a global presence with offices in
Paris, London, New York, Montreal and Singapore.
Credica Ltd
Building 168, Maxell Avenue, Harwell Oxford, Oxon. OX11 0QT
T: 01235 856400E: info@credica.co.uk W: www.credica.co.uk
Our highly configurable and extremely cost effective Collections
and Query Management System has been designed with 3 goals
in mind:
•To improve your cashflow • To reduce your cost to collect
• To provide meaningful analysis of your business
Evolving over 15 years and driven by the input of 1000s of
Credit Professionals across the UK and Europe, our system is
successfully providing significant and measurable benefits for our
diverse portfolio of clients.
We would love to hear from you if you feel you would benefit from
our ‘no nonsense’ and human approach to computer software.
Data Interconnect Ltd
Units 45-50
Shrivenham Hundred Business Park, Majors Road,
Watchfield. Swindon, SN6 8TZ
T: +44 (0)1367 245777
E: sales@datainterconnect.co.uk
W: www.datainterconnect.com
Data Interconnect is dedicated to solving complex Accounts
Receivable problems through reliable, easy-to-use cloud
software. We empower billing managers and collections experts
with the tools and data they need in a user-friendly interface, for
timely, tax-compliant invoicing, collections and reconciliation in
the most cost effective, secure, auditable and trackable manner.
The powerful, flexible, Corrivo platform is the only system your
AR team needs to manage your company’s cashflow better.
HighRadius
T: +44 7399 406889
E: gwyn.roberts@highradius.com
W: www.highradius.com
HighRadius is the leading provider of Integrated Receivables
solutions for automating receivables and payment functions such
as credit, collections, cash allocation, deductions and eBilling.
The Integrated Receivables suite is delivered as a software-as-aservice
(SaaS). HighRadius also offers SAP-certified Accelerators
for SAP S/4HANA Finance Receivables Management, enabling
large enterprises to maximize the value of their SAP investments.
HighRadius Integrated Receivables solutions have a proven track
record of reducing days sales outstanding (DSO), bad-debt and
increasing operation efficiency, enabling companies to achieve an
ROI in less than a year.
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 65

Cr£ditWho?
CICM Directory of Services
FOR ADVERTISING INFORMATION
OPTIONS AND PRICING CONTACT
russell@cabbells.uk 0203 603 7937
CREDIT MANAGEMENT SOFTWARE
DATA AND ANALYTICS
INSOLVENCY
ESKER
Sam Townsend Head of Marketing
Northern Europe Esker Ltd.
T: +44 (0)1332 548176 M: +44 (0)791 2772 302
W: www.esker.co.uk LinkedIn: Esker – Northern Europe
Twitter: @EskerNEurope blog.esker.co.uk
Esker’s Accounts Receivable (AR) solution removes the all-toocommon
obstacles preventing today’s businesses from collecting
receivables in a timely manner. From credit management to cash
allocation, Esker automates each step of the order-to-cash cycle.
Esker’s automated AR system helps companies modernise
without replacing their core billing and collections processes. By
simply automating what should be automated, customers get the
post-sale experience they deserve and your team gets the tools
they need.
C2FO
C2FO Ltd
105 Victoria Steet
SW1E 6QT
T: 07799 692193
E: anna.donadelli@c2fo.com
W: www.c2fo.com
C2FO turns receivables into cashflow and payables into income,
uniquely connecting buyers and suppliers to allow discounts
in exchange for early payment of approved invoices. Suppliers
access additional liquidity sources by accelerating payments
from buyers when required in just two clicks, at a rate that works
for them. Buyers, often corporates with global supply chains,
benefit from the C2FO solution by improving gross margin while
strengthening the financial health of supply chains through
ethical business practices.
Menzies
T: +44 (0)2073 875 868 - London
T: +44 (0)2920 495 444 - Cardiff
W: menzies.co.uk/creditor-services
Operating across seven UK offices, Menzies LLP is an
accountancy firm delivering traditional services combined
with strategic commercial thinking. Our services include:
advisory, audit, corporate and personal tax, corporate
finance, forensic accounting, outsourcing, wealth
management and business recovery – the latter of which
includes our specialist offering developed specifically for
creditors. For more information on this, or to see how the
Menzies Creditor Services team can assist you, please
visit: www.menzies.co.uk/creditor-services. Bethan Evans,
Partner and Head of Menzies Creditor Services, email:
bevans@menzies.co.uk and phone: +44 (0)2920 447512
LEGAL
SERRALA
Serrala UK Ltd, 125 Wharfdale Road
Winnersh Triangle, Wokingham
Berkshire RG41 5RB
E: r.hammons@serrala.com W: www.serrala.com
T +44 118 207 0450 M +44 7788 564722
Serrala optimizes the Universe of Payments for organisations
seeking efficient cash visibility and secure financial processes.
As an SAP Partner, Serrala supports over 3,500 companies
worldwide. With more than 30 years of experience and
thousands of successful customer projects, including solutions
for the entire order-to-cash process, Serrala provides credit
managers and receivables professionals with the solutions they
need to successfully protect their business against credit risk
exposure and bad debt loss.
Satago
48 Warwick Street, London, W1B 5AW
T: +44(0)020 8050 3015
E: hello@satago.com
W: www.satago.com
Satago helps business owners and their accountants avoid credit
risks, manage debtors and access finance when they need it – all
in one platform. Satago integrates with 300+ cloud accounting
apps with just a few clicks, helping businesses:
• Understand their customers - with RISK INSIGHTS
• Get paid on time - with automated CREDIT CONTROL
• Access funding - with flexible SINGLE INVOICE FINANCE
Visit satago.com and start your free trial today.
DATA AND ANALYTICS
identeco – Business Support Toolkit
Compass House, Waterside, Hanbury Road, Bromsgrove,
Worcestershire B60 4FD
Telephone: 01527 549 531 Email: info@identeco.co.uk
Web: www.identeco.co.uk
identeco’s Business Support Toolkit is an online portal connecting
its subscribers to a range of business services that help them
to engage with new prospects, understand their customers and
mitigate risk. Annual subscription is £79.95 per year for unlimited
access. Providing company information and financial reports,
director and shareholder structures as well as a unique financial
health rating, balance sheets, ratio analysis, and any detrimental
data that might be associated with a company. Other services
also included in the subscription include a business names
database, acquisition targets, a data audit service as well as
unlimited, bespoke marketing and telesales listings for any sector.
FINANCIAL PR
Gravity Global
Floor 6/7, Gravity Global, 69 Wilson St, London, EC2A 2BB
T: +44(0)207 330 8888. E: sfeast@gravityglobal.com
W: www.gravityglobal.com
Gravity is an award winning full service PR and advertising
business that is regularly benchmarked as being one of the
best in its field. It has a particular expertise in the credit sector,
building long-term relationships with some of the industry’s bestknown
brands working on often challenging briefs. As the partner
agency for the Credit Services Association (CSA) for the past 22
years, and the Chartered Institute of Credit Management since
2006, it understands the key issues affecting the credit industry
and what works and what doesn’t in supporting its clients in the
media and beyond.
FORUMS
Shoosmiths
Email: paula.swain@shoosmiths.co.uk
Tel: 03700 86 3000 W: www.shoosmiths.co.uk
Shoosmiths’ highly experienced team will work closely with credit
teams to recover commercial debts as quickly and cost effectively
as possible. We have an in depth knowledge of all areas of debt
recovery, including:
•Pre-litigation services to effect early recovery and keep costs down
•Litigation service
•Post-litigation services including enforcement
•Insolvency
As a client of Shoosmiths, you will find us quick to relate to your goals,
and adept at advising you on the most effective way of achieving
them.
PAYMENT SOLUTIONS
American Express
76 Buckingham Palace Road,
London. SW1W 9TQ
T: +44 (0)1273 696933
W: www.americanexpress.com
American Express is working in partnership with the CICM and is a
globally recognised provider of payment solutions to businesses.
Specialising in providing flexible collection capabilities to drive a
number of company objectives including:
• Accelerate cashflow • Improved DSO • Reduce risk
• Offer extended terms to customers
•Provide an additional line of bank independent credit to drive
growth • Create competitive advantage with your customers
As experts in the field of payments and with a global reach,
American Express is working with credit managers to drive growth
within businesses of all sectors. By creating an additional lever
to help support supplier/client relationships American Express is
proud to be an innovator in the business payments space.
Dun & Bradstreet
Marlow International, Parkway Marlow
Buckinghamshire SL7 1AJ
Telephone: (0800) 001-234 Website: www.dnb.co.uk
Dun & Bradstreet Finance Solutions enable modern finance
leaders and credit professionals to improve business performance
through more effective risk management, identification of growth
opportunities, and better integration of data and insights across
the business. Powered by our Data Cloud, our solutions provide
access to the world’s most comprehensive commercial data
and insights - supplying a continually updated view of business
relationships that helps finance and credit teams stay ahead of
market shifts and customer changes. Learn more here:
www.dnb.co.uk/modernfinance
FORUMS INTERNATIONAL
T: +44 (0)1246 555055
E: info@forumsinternational.co.uk
W: www.forumsinternational.co.uk
Forums International Ltd have been running Credit and Industry
Forums since 1991. We cover a range of industry sectors and
International trading, attendance is for Credit Professionals of all
levels. Our forums are not just meetings but communities which
aim to prepare our members for the challenges ahead. Attending
for the first time is free for you to gauge the benefits and meet the
members and we only have pre-approved Partners, so you will
never intentionally be sold to.
Bottomline Technologies
115 Chatham Street, Reading
Berks RG1 7JX | UK
T: 0870 081 8250 E: emea-info@bottomline.com
W: www.bottomline.com/uk
Bottomline Technologies (NASDAQ: EPAY) helps businesses
pay and get paid. Businesses and banks rely on Bottomline for
domestic and international payments, effective cash management
tools, automated workflows for payment processing and bill
review and state of the art fraud detection, behavioural analytics
and regulatory compliance. Businesses around the world depend
on Bottomline solutions to help them pay and get paid, including
some of the world’s largest systemic banks, private and publicly
traded companies and Insurers. Every day, we help our customers
by making complex business payments simple, secure and
seamless.
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 66

PAYMENT SOLUTIONS
ARE YOU A LEADER
OR FOLLOWER?
Key IVR
T: +44 (0) 1302 513 000
E: sales@keyivr.com
W: www.keyivr.com
Key IVR are proud to have joined the Chartered Institute of
Credit Management’s Corporate partnership scheme. The
CICM is a recognised and trusted professional entity within
credit management and a perfect partner for Key IVR. We are
delighted to be providing our services to the CICM to assist with
their membership collection activities. Key IVR provides a suite
of products to assist companies across the globe with credit
management. Our service is based around giving the end-user
the means to make a payment when and how they choose. Using
automated collection methods, such as a secure telephone
payment line (IVR), web and SMS allows companies to free up
valuable staff time away from typical debt collection.
RECRUITMENT
Hays Credit Management
107 Cheapside, London, EC2V 6DN
T: 07834 260029
E: karen.young@hays.com
W: www.hays.co.uk/creditcontrol
Hays Credit Management is working in partnership with the CICM
and specialise in placing experts into credit control jobs and
credit management jobs. Hays understands the demands of this
challenging environment and the skills required to thrive within
it. Whatever your needs, we have temporary, permanent and
contract based opportunities to find your ideal role. Our candidate
registration process is unrivalled, including face-to-face screening
interviews and a credit control skills test developed exclusively for
Hays by the CICM. We offer CICM members a priority service and
can provide advice across a wide spectrum of job search and
recruitment issues.
PORTFOLIO
CREDIT CONTROL
Portfolio Credit Control
1 Finsbury Square, London. EC2A 1AE
T: 0207 650 3199
E: recruitment@portfoliocreditcontrol.com
W: www.portfoliocreditcontrol.com
Portfolio Credit Control, solely specialises in the recruitment of
permanent, temporary and contract Credit Control, Accounts
Receivable and Collections staff. Part of an award winning
recruiter we speak to and meet credit controllers all day everyday
understanding their skills and backgrounds to provide you with
tried and tested credit control professionals. We have achieved
enormous growth because we offer a uniquely specialist approach
to our clients, with a commitment to service delivery that exceeds
your expectations every single time.
CICMQ accreditation is a proven model
that has consistently delivered dramatic
improvements in cashflow and efficiency
CICMQ is the hallmark of industry
leading organisations
The CICM Best Practice Network is where
CICMQ accredited organisations come
together to develop, share and celebrate
best practice in credit and collections
BE A LEADER – JOIN THE CICM BEST
PRACTICE NETWORK TODAY
To find out more about flexible options
to gain CICMQ accreditation
E: cicmq@cicm.com T: 01780 722900
Advancing the credit profession / www.cicm.com / April 2021 / PAGE 67

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