CM September 2022 Credit Management

The CICM magazine for consumer and commercial credit professionals

The CICM magazine for consumer and commercial credit professionals


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

SEPTEMBER <strong>2022</strong> £12.50<br />



HOLD<br />

THE LINE<br />

Handling<br />

distressed callers<br />

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

to Steve Coppard about a<br />

life in debt. Page 16<br />

What leaders need to consider<br />

in a hybrid working model.<br />

Page 46

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28<br />


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

and Mel York<br />

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

46<br />


Simona Scarpaleggia<br />

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

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

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

membership, as well as additional subscribers<br />

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

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

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

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

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

11<br />


Ed McDonagh<br />

President Stephen Baister FCI<strong>CM</strong> / Chief Executive Sue Chapple FCI<strong>CM</strong><br />

Executive Board: Chair Debbie Nolan FCI<strong>CM</strong>(Grad) / Vice Chair Phil Rice FCI<strong>CM</strong> / Treasurer Glen Bullivant FCI<strong>CM</strong><br />

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

Advisory Council: Caroline Asquith-Turnbull FCI<strong>CM</strong> / Laurie Beagle FCI<strong>CM</strong> / Glen Bullivant FCI<strong>CM</strong> /Brendan Clarkson FCI<strong>CM</strong><br />

Larry Coltman FCI<strong>CM</strong> / Peter Gent FCI<strong>CM</strong>(Grad) / Victoria Herd FCI<strong>CM</strong>(Grad) / Andrew Hignett MCI<strong>CM</strong>(Grad)<br />

Dave Hindle FCI<strong>CM</strong> / Laural Jefferies FCI<strong>CM</strong> / Neil Jinks FCI<strong>CM</strong> / Martin Kirby FCI<strong>CM</strong> / Charles Mayhew FCI<strong>CM</strong> / Hans Meijer<br />

FCI<strong>CM</strong> / Debbie Nolan FCI<strong>CM</strong>(Grad) / Amanda Phelan MCI<strong>CM</strong>(Grad) / Allan Poole MCI<strong>CM</strong> / Phil Rice FCI<strong>CM</strong> /<br />

Phil Roberts FCI<strong>CM</strong> / Chris Sanders FCI<strong>CM</strong> / Paula Swain FCI<strong>CM</strong> / Mark Taylor MCI<strong>CM</strong> / Atul Vadher FCI<strong>CM</strong>(Grad)<br />

SEPTEMBER <strong>2022</strong><br />

www.cicm.com<br />


11 – BREATHE AGAIN<br />

Breathing space appears to be working,<br />

but there’s room for improvement.<br />

12 – MOVE FORWARD<br />

Profile on the new CI<strong>CM</strong> HQ and<br />

members’ centre in Peterborough.<br />

16 – KNOCK KNOCK<br />

Sean Feast speaks to Steve Coppard<br />

about a life in public sector debt. And<br />

Punk Rock.<br />


The CI<strong>CM</strong> Advisory Council has several<br />

new members.<br />

28 – SUICIDE WATCH<br />

How are DCAs managing the impact of<br />

distressing calls on their staff?<br />


Nick Leader considers how to tackle<br />

fraud through better information.<br />

36 – LIFE SUPPORT<br />

A new campaign is underway to<br />

improve accessibility to essential<br />

services for disabled consumers.<br />

42 – BUNCH OF FIVES<br />

Andrew Lilley of Blackline considers<br />

the key issues in successfully<br />

managing cashflow over the next five<br />

years.<br />

45 – COME FLY WITH ME<br />

How is the aviation industry coping<br />

with the current crisis?<br />


Why leaders should embrace the<br />

concept of hybrid working.<br />

Publisher<br />

Chartered Institute of <strong>Credit</strong> <strong>Management</strong><br />

1 Accent Park, Bakewell Road, Orton Southgate,<br />

Peterborough PE2 6XS<br />

Telephone: 01780 722900<br />

Email: editorial@cicm.com<br />

Website: www.cicm.com<br />

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

Managing Editor<br />

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

Deputy Editor<br />

Iona Yadallee<br />

Art Editor<br />

Andrew Morris<br />

Telephone: 01780 722910<br />

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

Editorial Team<br />

Imogen Hart, Rob Howard, Natalie Makin,<br />

Laura Rhodes, Sam Wilson and Mona Yazdanparast<br />

Advertising<br />

Paul Heitzman<br />

Telephone: 01727 739 196<br />

Email: paul@centuryone.uk<br />

Printers<br />

Stephens & George Print Group<br />

<strong>2022</strong> subscriptions<br />

UK: £112 per annum<br />

International: £145 per annum<br />

Single copies: £12.50<br />

ISSN 0265-2099<br />

Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 3


Banks, bad guys and BBLs<br />

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

Managing Editor<br />

❝<br />

They are riding off<br />

into the sunset with their<br />

ill-gotten gains without<br />

a care in the world, and<br />

leaving you, me and the<br />

rest of society to foot the<br />

bill.<br />

❝<br />

YOU feel it could be the gift<br />

that keeps giving. And that’s<br />

probably how some businesses<br />

viewed Government<br />

support during COVID. A<br />

headline on the BBC at the<br />

beginning of August told of thousands of<br />

small firms going bust owing millions in<br />

bounce back loans (BBLs). It also spoke of<br />

hundreds of directors who received loans<br />

they were not entitled to, had now been<br />

disqualified.<br />

The numbers, to lob in a cliché or two,<br />

are eye watering, and could cost the tax<br />

payer anything up to £4bn. A total of £47bn<br />

was loaned out, each company being<br />

able to apply for a loan of up to £50,000<br />

with only the minimum of checks in<br />

place. Indeed, applicants were allowed to<br />

self-certify.<br />

The majority of businesses that have<br />

since gone bust did so for legitimate<br />

reasons and the individuals concerned<br />

have our every sympathy and need to be<br />

supported. But by no means all.<br />

Peter Ferguson is one example quoted –<br />

a man who over-stated his firm’s turnover<br />

to access a loan for a dormant company<br />

and bought two cars with the cash. He’s<br />

been banned from being a company<br />

director for six years, and yet still has<br />

significant control over another business<br />

in the events and hospitality world.<br />

Under the terms of the bounce back<br />

loan, it is the dormant company and not<br />

Ferguson personally that is responsible<br />

for paying back what’s owed. The rules<br />

state that if there is no money left in the<br />

business, then the loan cannot be paid<br />

back. This is despite the fact – and I kid you<br />

not – that not long after his company failed,<br />

he won £200,000 at a Casino in Vegas!<br />

This has to be nonsense. Here we have<br />

a man, who clearly has the personal<br />

means to pay, but under the terms of the<br />

agreement will walk away from this scot<br />

free. Money that is won or inherited, or<br />

acquired through a successful venture<br />

in another name (without a personal<br />

guarantee) cannot be touched; it is the<br />

protection every director has from personal<br />

liability under English Company law. He<br />

and hundreds like him will therefore brush<br />

off their disqualifications like swatting a fly<br />

off their arms, and pretty much carry on as<br />

usual.<br />

Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 4


So what do the High Street banks who<br />

provided the majority of the loans think<br />

about all this? And do they think, just as<br />

a slightly crazy thought of mine, that the<br />

likes of Ferguson and his kind deserve to<br />

be treated to the same courtesies as you or<br />

I, should we fall on hard times?<br />

I’d like to give you the answer but<br />

approaches to Santander, HSBC, RBS,<br />

Lloyds and others didn’t get me very far.<br />

Indeed, they didn’t even acknowledge my<br />

request, which was a little rude. Clearly,<br />

I am not important enough and/or they<br />

are just jolly busy. I’ve worked in a press<br />

office for one of the High Street banks<br />

and it can get a little mad, though I always<br />

think I said something to everybody, even<br />

if it wasn’t much.<br />

Barclays did me the courtesy of coming<br />

back to me to say they didn’t comment<br />

on such matters beyond taking fraud<br />

extremely seriously (I should hope so<br />

– they’ve got my money) and I should<br />

head to the British Business Bank for<br />

an industry view. The British Business<br />

Bank also came back to me and pointed<br />

me in the direction of UK Finance. UK<br />

Finance said they’d come back to me and<br />

subsequently pointed me in the direction<br />

of the FCA. Which is a shame, as it makes<br />

it look like they don’t care when I’m sure<br />

they must.<br />

Only NatWest actually addressed the<br />

question directly, albeit to say that they<br />

treat ALL BBLS borrowers fairly ‘whilst also<br />

protecting the integrity of the scheme and<br />

therefore will investigate any fraudulent<br />

or criminal issues, in partnership with<br />

the National Crime Agency (NCA), the<br />

police, and the relevant authorities.’<br />

A spokesperson also told me that<br />

NatWest continues to work with its<br />

colleagues, other banks, industry<br />

bodies, law enforcement, regulators, and<br />

Governments to help find collaborative<br />

solutions to this shared challenge. These<br />

partnerships, it believes, are crucial to<br />

counter the significant and evolving<br />

threat of financial crime to society.<br />

Heady stuff, but I’m not sure it’s taking<br />

us very far. Directors who knowingly took<br />

out loans by deception are surely not<br />

deserving of the protections or niceties<br />

of Treating Customers Fairly, even if they<br />

play the ‘vulnerability’ card. But since<br />

they are not personally liable anyway,<br />

who cares? They are riding off into the<br />

sunset with their ill-gotten gains without<br />

a care in the world, and leaving you, me<br />

and the rest of society to foot the bill.<br />

But surely there is a case that Ferguson<br />

and his like should be personally<br />

liable? Why should they be afforded the<br />

protection of operating within a limited<br />

company? These are not innocent victims<br />

of a cruel world. They are cruel world<br />

exemplars of a crime that is neither<br />

innocent, nor victimless.<br />


So, do we think the banks will really<br />

come down hard on those who have<br />

diddled them out of the money they have<br />

borrowed? Perhaps they will when the<br />

BBB refuse to refund a growing volume of<br />

guarantee claims, which will surely come<br />

about. And let’s remember that the banks<br />

(albeit they are ignoring me) are not the<br />

bad guys here. They were compelled<br />

by the Government, the media, and the<br />

weight of public opinion to get funds out<br />

of the door a toute vitesse. Due diligence<br />

and usual prudence could come later, if at<br />

all. And yet now they are being lambasted<br />

for it.<br />

But the whole saga is a reputational<br />

minefield. I don’t expect any of the banks<br />

to break ranks any time soon. Better hide<br />

behind an industry body in the short<br />

term, as they seem to be doing. To go<br />

after the bad guys runs the risk of being<br />

seen to be aggressive – even after the<br />

first BBL fraudster has been jailed – and<br />

the banks are still licking their wounds<br />

from a decade or so ago. I can hear their<br />

advisors, senior executives and investor<br />

relations people now shouting ‘never<br />

again’!<br />

Which is a pity. Because this is one of<br />

the few occasions where the banks being<br />

seen to be tough – and actually acting<br />

tough – will be applauded. And let us hope<br />

that when the Ferguson’s of this world go<br />

squealing to the National press about how<br />

beastly their treatment has been, we all<br />

raise a collective glass to the banks for a<br />

job well done.<br />

Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 5

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

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

world of consumer and commercial credit.<br />

THE war in Ukraine,<br />

lingering lockdown<br />

restrictions and multidecade<br />

high inflation are<br />

continuing to negatively<br />

impact the global<br />

economy.<br />

Global GDP is expected to decrease<br />

through to 2023 as inflation restricts<br />

consumer spending and supply-chain<br />

issues limit trade. Despite global GDP<br />

recovering to 5.9 percent in 2021,<br />

growth is predicted to decrease to 3.1<br />

percent in <strong>2022</strong> and slow to a further 3.0<br />

percent by 2023.<br />

The same story applies among the<br />

advanced economies, where GDP<br />

growth is expected to slow to 2.7<br />

percent in <strong>2022</strong> and 2.1 percent in 2023.<br />

Surging inflation driven by Europe’s<br />

high energy prices and supply-demand<br />

imbalances in the US are both cited<br />

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

UK growth forecast to be one of<br />

the worst for advanced economies<br />

as key factors in the latest Economic<br />

Outlook from trade credit insurer,<br />

Atradius. Meanwhile, in the UK, growth<br />

forecasts paint an even bleaker picture.<br />

Atradius predicts the UK’s growth to<br />

be 3.6 percent in <strong>2022</strong>, followed by 1.3<br />

percent in 2023, making it one of the<br />

worst performing advanced economies.<br />

According to the report, pressure on<br />

British households is at an all-time<br />

high, with real household incomes<br />

expected to fall by 2.2 percent in <strong>2022</strong>,<br />

the largest decrease since records<br />

began in 1955.<br />

Atradius’ GDP growth predictions for<br />

emerging market economies (EMEs)<br />

are the least promising. Forecast to be<br />

nearly halved in <strong>2022</strong> to 3.5 percent,<br />

down from 6.9 percent in 2021.<br />

James Burgess, Head of Commercial<br />

at Atradius UK & Ireland, says that the<br />

global recovery from the pandemic<br />

is set to be a gradual one thanks to<br />

a new set of adverse shocks: “After a<br />

relatively healthy start to <strong>2022</strong>, Russia’s<br />

invasion of Ukraine and the subsequent<br />

sanctions have quickly stunted<br />

growth. Ongoing supply bottlenecks,<br />

geopolitical turmoil in Eastern Europe,<br />

and rampant inflation continue to<br />

mount, making it incredibly difficult for<br />

any global country to plan ahead and<br />

navigate a safe and steady future.<br />

“Businesses wanting to survive<br />

<strong>2022</strong>/23 must keep an eye on the<br />

economic performance of all global<br />

markets, and the easiest way to do this<br />

is by investing in trade credit<br />

insurance. Access to robust business<br />

intelligence and expert insight into<br />

market performance is key and can<br />

help businesses mitigate risk and build<br />

solid foundations for international<br />

trade.”<br />

iwoca SME Expert Index shows<br />

demand for funding increases<br />

SMALL business owners are more<br />

concerned than ever about the<br />

possibility of a recession, according<br />

to iwoca’s latest quarterly SME Expert<br />

Index, which means demand for<br />

finance has increased.<br />

With both the cost of living and the<br />

cost of doing business climbing, over<br />

three quarters of brokers surveyed<br />

(77 percent) say their small business<br />

clients are worried about the possibility<br />

of a recession. By contrast, fewer than<br />

seven percent of brokers reported their<br />

SME clients as ‘unconcerned’.<br />

iwoca’s Q2 <strong>2022</strong> SME Expert Index<br />

is based on insight from UK brokers<br />

who collectively submitted over 1350<br />

applications for unsecured finance on<br />

behalf of their SME clients in June.<br />

The survey suggests that as small<br />

businesses face mounting economic<br />

uncertainty, their demand for finance<br />

has risen sharply. Almost half of<br />

brokers (46 percent) submitted more<br />

loan applications for small business<br />

financing in the last month compared<br />

to the one previous – a continuation of<br />

an upwards trend since the end of last<br />

year, with 28 percent citing the same<br />

in Q4 2021, and 34 percent reporting<br />

increased loan demand in Q1 <strong>2022</strong>.<br />

Not a single broker said they had seen<br />

fewer applications.<br />

The survey also suggests that small<br />

businesses are looking for larger loans<br />

in light of the turbulent economic<br />

forecast. Over one in eight brokers (13<br />

percent) identified £200,000+ loans as<br />

most sought after for small businesses,<br />

the highest proportion since the Index<br />

was first released. Looking back at this<br />

trend, demand for loans valued above<br />

£200,000 has steadily increased since<br />

iwoca’s first Index in Q1 2021 when only<br />

four percent of brokers reported these<br />

larger loans as the most commonly<br />

requested.<br />

iwoca recently announced that it is<br />

more than doubling the maximum size<br />

of its core lending product, Flexi-Loan,<br />

allowing small business owners to<br />

access business loans up to £500,000,<br />

up from a previous lending cap of<br />

£200,000.<br />

Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 6

Corporate insolvencies rise<br />

to highest level in a decade<br />

CORPORATE insolvencies<br />

rose 12.7 percent between<br />

April – June <strong>2022</strong> when<br />

compared to the previous<br />

quarter and increased<br />

by 81.3 percent from<br />

the corresponding period in 2021,<br />

according to figures published last<br />

month by the Insolvency Service.<br />

Personal insolvencies in England<br />

and Wales saw a quarterly decrease but<br />

rose by 6.5 percent from the same time<br />

last year.<br />

Christina Fitzgerald, President<br />

of insolvency and restructuring<br />

trade body R3, says that corporate<br />

insolvencies have now risen to their<br />

highest level since 2012: “The figures<br />

have been driven by an increase in<br />

all forms of insolvency process – but<br />

<strong>Credit</strong>ors’ Voluntary Liquidations<br />

(CVLs) have peaked to their highest<br />

recorded figure of 4,908, suggesting<br />

that many directors are opting to<br />

close their businesses as they lack<br />

confidence in their trading prospects in<br />

the current climate.<br />

“The steady rise in Compulsory<br />

Liquidations we’ve seen since the start<br />

of the year also suggests that creditors<br />

are now making use of their power to<br />

issue winding-up petitions to try and<br />

claw back monies they are owed.”<br />

Christina says the current economic<br />

headwinds are only likely to get worse<br />

before they get better, and this will<br />

mean businesses in England and<br />

Wales will have a tough second-half of<br />

the year: “With household disposable<br />

income dropping for the eighth<br />

consecutive month in June, consumers<br />

are having to prioritise household bills<br />

before they can think about spending<br />

their money elsewhere – and this will<br />

have a knock-on effect to businesses<br />

that simply won’t see the footfall they<br />

are used to.<br />

“This, coupled with a combination of<br />

soaring costs across the board, supply<br />

chain issues, and a tight labour market,<br />

has meant an uphill battle for many<br />

businesses, especially for those still<br />

reeling from the pandemic.<br />

"For company directors concerned<br />

about their prospects in the months<br />


ahead, now is the time to make sure<br />

they have a clear plan in place for the<br />

future. The economy is particularly<br />

fragile at the moment and businesses<br />

should be prepared for this to<br />

deteriorate as we enter the second<br />

half of the year. I would urge company<br />

directors to understand how to spot<br />

the first signs of business distress<br />

and to seek advice from a qualified<br />

professional as soon as they become<br />

concerned.”<br />

❝<br />

“The steady rise in<br />

Compulsory Liquidations we’ve<br />

seen since the start of the year<br />

also suggests that creditors are<br />

now making use of their power<br />

to issue winding-up petitions to<br />

try and claw back monies they<br />

are owed.”<br />

❝<br />

The quarterly fall in personal<br />

insolvencies is down to a reduction<br />

in bankruptcies, Debt Relief Orders<br />

(DROs) and Individual Voluntary<br />

Arrangements (IVAs). However,<br />

personal insolvency levels are still<br />

higher than they were a year ago.<br />

“DRO figures have increased by 32<br />

percent from the same time last year<br />

– and this has been mirrored by a 31<br />

percent reduction in bankruptcies,” she<br />

continues. “This suggests that those<br />

with lower levels of debt and assets are<br />

facing the pinch at the moment, rather<br />

than those with businesses and larger<br />

mortgages, who are more likely to use<br />

the bankruptcy process to deal with<br />

their financial problems. “With inflation<br />

continuing to climb and the energy<br />

price cap due to rise again in October,<br />

people are rightfully concerned about<br />

their finances and are managing their<br />

budgets accordingly,” she continues.<br />

“But price increases across the<br />

board mean that the impacts are being<br />

felt differently by different types of<br />

consumers. For those on the lower end<br />

of the income scale, budgeting can only<br />

stretch so far and it is worrying that<br />

for some, credit cards and other types<br />

of debt may feel like the only option to<br />

cover even the essentials.”<br />

Samantha Keen, UK Turnaround<br />

and Restructuring Strategy Partner at<br />

EY-Parthenon, says that the outlook for<br />

further corporate insolvencies is bleak:<br />

“The record levels of CVLs are the first<br />

tranche of insolvencies we expected<br />

to see involving companies that<br />

have struggled to stay viable without<br />

the lifeline of government support<br />

provided over the pandemic. We<br />

expect further insolvencies in the year<br />

ahead among larger businesses who<br />

are struggling to adapt to challenging<br />

trading conditions, tighter capital, and<br />

increased market volatility.”<br />

EY-Parthenon’s latest Profit<br />

Warnings analysis found that warnings<br />

from UK-listed companies increased<br />

66 percent year-on-year in H1 <strong>2022</strong><br />

with over half (58 percent) citing<br />

rising costs: “As profit warnings<br />

increase, we’re seeing more companies<br />

issue multiple warnings with many<br />

approaching the ‘three warning<br />

rule’ where, on average, one-in-five<br />

companies delist within a year of their<br />

third warning, most due to insolvency,”<br />

she continues.<br />

“While many companies have been<br />

grappling with rising costs and supply<br />

chain issues in the first half of the<br />

year, falling consumer confidence<br />

and demand is likely to be the next<br />

significant headwind.”<br />

The recent EY ITEM Club Summer<br />

Forecast downgraded consumer<br />

spending growth for <strong>2022</strong> to 4.1 percent,<br />

down from the 4.9 percent expected in<br />

early February: “The impact from the<br />

slowdown in consumer spending is<br />

likely to be felt in the autumn, just as<br />

many retail and hospitality businesses<br />

gear up for the all-important ‘golden<br />

quarter’. These businesses, which<br />

are highly sensitive to fluctuations<br />

in consumer demand, will be most<br />

vulnerable.”<br />

❝<br />

“While many companies have been grappling with rising costs and supply chain<br />

issues in the first half of the year, falling consumer confidence and demand is likely to<br />

be the next significant headwind.”<br />

Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 7


Small businesses continue<br />

to be squeezed for ‘free credit’<br />

FIGURES from the Federation<br />

of Small Businesses (FSB)<br />

and reported in The Times<br />

show that between April and<br />

June <strong>2022</strong>, half of the 1,300<br />

small business owners and<br />

sole traders surveyed for its quarterly<br />

research reported being paid late, while<br />

one in five said the issue was getting<br />

worse.<br />

To address the challenge, Craig<br />

Beaumont, Chief of External Affairs at<br />

the FSB, says the Government needs<br />

to use both carrot and stick: “There<br />

must be a mix of positive and negative<br />

actions to make a real difference to the<br />

UK’s poor payment culture,” he says.<br />

“Otherwise, we will continue as we are.”<br />

His comments coincide with<br />

rumours that the existing Prompt<br />

Payment Code will soon finally<br />

be revised as large businesses<br />

continue to squeeze their smaller<br />

suppliers for what amounts<br />

to ‘free credit’. Fresh powers<br />

proposed in October 2020<br />

for the small business<br />

commissioner, who<br />

intervenes and mediates<br />

on payment disputes<br />

when invited, have yet<br />

UK businesses are on aggregate<br />

holding firm on last year’s position and<br />

signing a comparable number of new<br />

deals to lease essential equipment.<br />

From tractors and plant machinery,<br />

photocopiers and laptops, figures were<br />

almost like for like when measured<br />

against the second quarter of 2021,<br />

according to the latest index from<br />

Acquis, an insurance products and<br />

services provider to the European<br />

finance and leasing industry.<br />

The Acquis Index is described as<br />

a leading economic indicator of how<br />

much equipment UK companies lease,<br />

and how for long. Published quarterly,<br />

the latest edition reveals that overall,<br />

new leases signed by UK companies<br />

during the second quarter of <strong>2022</strong><br />

have grown 1.6 percent compared to<br />

the same period last year. However,<br />

growth is still only 6.3 percent higher<br />

than that of June 2020 during<br />

the middle of the pandemic,<br />

suggesting a sluggish recovery.<br />

New leases in the EU are<br />

to be acted upon (see interview with Liz<br />

Barclay July-August issue).<br />

Sue Chapple FCI<strong>CM</strong>, Chief Executive<br />

of the Chartered Institute of <strong>Credit</strong><br />

<strong>Management</strong> (CI<strong>CM</strong>), says that best<br />

practice credit management is more<br />

important than ever: “There are no<br />

doubt challenges, and the FSB is right to<br />

highlight the late payment issue.<br />

“But what we really need to focus on<br />

is the positive action that many SMEs<br />

can be taking in helping themselves<br />

to get paid by agreeing terms and<br />

conditions upfront, invoicing promptly<br />

and accurately, and picking up the<br />

phone and talking with customers<br />

to head off any problems before they<br />

occur.<br />

“Of course the Government<br />

can always do more, and further<br />

revisions to the Prompt Payment<br />

Code would be welcome, but some<br />

aspects of late payment are in the<br />

hands of the suppliers, and our<br />

members and our Institute are<br />

ready to help wherever we<br />

can.”<br />

Anthony Persse, Chief<br />

Executive of Saltare, an<br />

early payment solution,<br />

says there is no doubt the<br />

UK businesses still love a lease<br />

down 33.1 percent.<br />

Biggest demand appears to<br />

come from both the restaurant<br />

and retail sectors. James Rudolf,<br />

Chief Commercial Officer, at Acquis<br />

Insurance, says that while UK<br />

business is holding firm, it may not<br />

continue: “Against such oppressive<br />

economic conditions, we may start<br />

to see management teams grow<br />

more reluctant to sign new deals to<br />

lease equipment that is vital to their<br />

operations, staff retention and growth<br />

prospects, as business confidence<br />

is dented and costs start to bite,” he<br />

explains.<br />

situation is getting worse: “UK SMEs are<br />

already under incredible pressure as a<br />

result of rising inflation, fuel increases<br />

and impending recession, so more<br />

than ever cashflow is vitally important<br />

to ensure that they can weather the<br />

storm,” he says. Saltare recently signed<br />

a new partnership with the Smart<br />

Manufacturing Alliance (SMA) to help<br />

manufacturers across Cambridgeshire<br />

and Peterborough take greater control of<br />

their cashflow. Saltare’s digital products<br />

incentivise early payments and let both<br />

suppliers and customers know when<br />

invoices will be paid. This gives SMEs<br />

more certainty over their cashflow and<br />

strengthens relationships across the<br />

supply chain.<br />

Bob Hart, Programme Director at<br />

the SMA, says that he hopes Saltare’s<br />

payment platforms will help businesses<br />

free up resources and invest more into<br />

innovation, job creation, and growth:<br />

“Giving our members quick and simple<br />

payment systems like Early Pay not<br />

only safeguards their cashflow, but<br />

could help them divert more resources<br />

into innovative projects, new tech<br />

and equipment, and create more<br />

opportunities for staff to develop their<br />

skillsets.”<br />

❝<br />

“Yet there are some positive<br />

signs that growth has continued<br />

throughout the second quarter<br />

of <strong>2022</strong>, albeit at a slower rate<br />

than hoped. Restaurants and<br />

retail outlets are one sector<br />

that is clearly still investing –<br />

hopeful they can combat a costof-living<br />

crisis that is already<br />

seeing UK families reduce<br />

discretionary spending.”<br />

❝<br />

Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 8


CSA urges HM Treasury to<br />

prioritise modernisation of<br />

consumer credit regulations<br />

THE <strong>Credit</strong> Services<br />

Association (CSA), the<br />

UK trade body for the<br />

debt collection and debt<br />

purchase industry, has<br />

cautiously welcomed the<br />

Government's recent<br />

announcement of its<br />

intention to reform and<br />

modernise the now<br />

almost 50-year-old<br />

Consumer <strong>Credit</strong> Act.<br />

In a new report<br />

published last month,<br />

the trade body highlights<br />

the mismatch between<br />

the requirements of the<br />

existing legislation and<br />

the needs of modern<br />

society and business,<br />

calling on new Treasury<br />

Ministers to prioritise<br />

reforms.<br />

Chris Leslie, Chief<br />

Executive of the CSA, says that the<br />

Government needs to deliver on its<br />

promise: “We have been down this<br />

road of promises and expectations<br />

before,” he warns. “With the roll out<br />

of the Financial Conduct Authority’s<br />

‘Consumer Duty’ imminent, it is more<br />

important than ever that this dated<br />

legislation is finally modernised. We<br />

would urge the future Treasury team to<br />

recognise the importance of aligning<br />

with this.”<br />

The CSA’s report entitled<br />

‘Modernising Consumer Protection:<br />

The Case for Reforming and Updating<br />

the Consumer <strong>Credit</strong> Act (CCA)’<br />

recommends the Treasury sets out a<br />

detailed consultation timetable so that<br />

changes are introduced before the end<br />

of 2023 to avoid undermining the FCA’s<br />

obligation to introduce a Consumer<br />

Duty.<br />

The report also recommends reform<br />

of consumer credit communications<br />

and suggests that the review looks<br />

strategically at the genuine needs of<br />

modern consumers. Report author<br />

Henry Aitchison, Head of Policy at<br />

the CSA, says it is important that<br />

we move away from the current<br />

approach of treating all customers<br />

identically and simply grafting<br />

antiquated requirements blindly onto<br />

new iterations of regulation: “It has<br />

been widely recognised for many<br />

years now that some post-contractual<br />

information requirements never<br />

provided the information or accuracy<br />

that consumers actually need, while at<br />

the same time managing to undermine<br />

businesses’ attempts to work with their<br />

customers,” he explains.<br />

“Slapping a bandage<br />

on already faulty<br />

requirements by<br />

suggesting yet more<br />

paperwork to explain<br />

failing regulations isn’t<br />

going to cut it, if we<br />

are serious about the<br />

Consumer Duty.”<br />

The report also draws<br />

out the importance<br />

of policymakers<br />

recognising the<br />

environmental impacts<br />

of their demands. The<br />

current approach to<br />

regulation demands<br />

vast quantities of paper<br />

to be posted to borrowers, and often<br />

even when circumstances such as<br />

the exercise of forbearance makes<br />

the mandated information factually<br />

inaccurate. The report suggests that<br />

some of the existing statutory notices<br />

could easily result in producing a<br />

carbon footprint of at least 1.3 million<br />

kg, consume 1,680 trees and use 420<br />

thousand kWh of energy – just to<br />

provide inaccurate but compulsory<br />

information!<br />

CSA CEO Chris Leslie wants<br />

Treasury Ministers to pick up the<br />

baton: “They must set out a timetable<br />

now to fulfil the legislative reform<br />

commitment. Comprehensible and<br />

joined-up consumer regulation<br />

demands nothing less.”<br />

❝<br />

“Slapping a bandage on<br />

already faulty requirements by<br />

suggesting yet more paperwork<br />

to explain failing regulations<br />

isn’t going to cut it, if we are<br />

serious about the Consumer<br />

Duty.”<br />

❝<br />

>NEWS<br />

IN BRIEF<br />

CoCredo Celebrates<br />

20th Anniversary<br />

COCREDO, one of the country’s<br />

leading specialists in providing online<br />

company credit reports and related<br />

business information, celebrated its<br />

20th Anniversary last month with<br />

a party at Missenden Abbey. Dan<br />

Hancocks, Managing Director, says<br />

he is extremely proud of what the<br />

company has achieved in two decades<br />

of business. “I always wanted to build<br />

a family atmosphere within the team<br />

and with all of us coming together to<br />

celebrate, it feels very special,” he said.<br />

On Target<br />

TARGET Group, the operational<br />

transformation, business processing<br />

and software provider has promoted<br />

Mark Gilliver to Chief Growth Officer.<br />

Gilliver will be responsible for<br />

setting the firm’s growth strategy and<br />

executing Target Group's three- to<br />

five-year growth plan. He will head a<br />

team of colleagues covering business<br />

development, solutions and bid<br />

disciplines.<br />

Senior hire<br />

EQUIFAX, leading global data,<br />

analytics, and technology company,<br />

has appointed Stéphane Dubois<br />

as Senior Finance Officer for<br />

Europe. With more than 20 years'<br />

leadership experience, Stéphane is<br />

said to have a proven track record<br />

for delivering profitable growth,<br />

strategy development and change<br />

management. Stéphane joins Equifax<br />

from Dutch manufacturing company<br />

AkzoNobel, where he spent three years<br />

as Head of Finance Transformation.<br />

The sky’s the limit<br />

MARGARET Dunsmore FCI<strong>CM</strong>, Senior<br />

Finance Manager at Skyscanner,<br />

hosted Karen Tuffs, FCI<strong>CM</strong>(Grad),<br />

Head of Accreditation, at their office<br />

in Glasgow last month. Margaret<br />

was delighted to receive the CI<strong>CM</strong>’s<br />

prestigious CI<strong>CM</strong>Q award on behalf of<br />

her team following accreditation in<br />

June 2021. The Collections and Partner<br />

Risk Squad were instrumental in<br />

helping Skyscanner navigate through<br />

the COVID-19 crisis, supporting their<br />

key partners – the airlines and travel<br />

agents. Margaret says the business is<br />

now seeing higher revenue than the<br />

pre-pandemic period and they are now<br />

busy assisting their partners with the<br />

Qatar World Cup bookings.<br />

Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 9

CI<strong>CM</strong>Q<br />

A lesson in quality<br />

BEV Ewens-Davey, CI<strong>CM</strong> Head of Transformation, joined Gavin Jones FCI<strong>CM</strong>, Head of Income, John Whitlow, Director of<br />

Financial Services & Procurement and the team from Imperial College London’s (ICL) campus in South Kensington in June<br />

to receive the college’s first re-accreditation to CI<strong>CM</strong>Q from Karen Tuffs FCI<strong>CM</strong>(Grad), CI<strong>CM</strong> Head of Accreditation. Karen<br />

said it was interesting to hear the different challenges and opportunities that working in the Higher Education sector<br />

presents. Members of the team provided updates to the group on the various initiatives improving customer experience and<br />

process efficiency. Many congratulations to Gavin and the ICL team on their achievement.<br />

Smooth operators<br />

KAREN Tuffs FCI<strong>CM</strong>(Grad), Head of<br />

Accreditation was welcomed by Kim Wood,<br />

UKI <strong>Credit</strong> Manager, Maria Bennet FCI<strong>CM</strong>,<br />

Supply Chain Director, Shared Services and 10<br />

members of the credit team at L’Oreal’s Luxury<br />

Products Distribution Centre in Nottingham<br />

on in July. L'Oréal achieved its first CI<strong>CM</strong>Q<br />

accreditation in January <strong>2022</strong>, impressively<br />

embracing remote team working during<br />

the pandemic to meet the challenging Best<br />

Practice criteria requirements. L'Oréal chose<br />

the CI<strong>CM</strong>Q workshop approach to successfully<br />

bring its three Shared Service locations<br />

together as working groups to accomplish<br />

their shared goal.<br />

Three-time winners<br />

XOSERVE welcomed Karen Tuffs FCI<strong>CM</strong> (Grad), CI<strong>CM</strong> Head of Accreditation to their offices in Solihull in July to officially<br />

receive their third CI<strong>CM</strong>Q award after successful reaccreditation two years ago. Brendan Gill, Business Process Manager,<br />

James Spicer, Head of Finance and Support Services and members of the <strong>Credit</strong> Risk & Neutrality team invited Karen to<br />

take part in their monthly meeting. CEO, Steph Ward, joined remotely to congratulate the team on their success. Steph<br />

commented that the team were Xoserve’s ‘hidden gem, getting on with things without a fuss’. The Xoserve team have<br />

consistently demonstrated its commitment to best practice in credit management operating in a complex, challenging<br />

market and are worthy holders of this prestigious accolade.<br />

Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 10


Breathe Again<br />

Breathing space appears to be working,<br />

but there’s room for improvement.<br />

AUTHOR – Ed McDonagh<br />

ON 4 May 2021 new legislation<br />

came into force marking a<br />

much-needed change for people<br />

in problem debt. The Statutory<br />

Breathing Space scheme offers<br />

a 60-day moratorium period,<br />

giving eligible clients a period of legal protection<br />

from creditors to enable them to seek debt<br />

advice and find an appropriate solution for their<br />

circumstances. StepChange was at the forefront<br />

of campaigning for this legislative change and<br />

has long extolled the need for the protections<br />

the scheme was brought in to provide.<br />

In its first year, Breathing Space saw nearly<br />

70,000 applications, with StepChange delivering<br />

just over 46,000 of these. Given our prominent<br />

role in the scheme’s roll out, we wanted to<br />

conduct some analysis to assess its impact<br />

and to see how successfully it is achieving its<br />

objectives.<br />

❝<br />

What this initial<br />

survey of 550<br />

StepChange<br />

clients tells us is<br />

encouraging; clients<br />

are benefitting from<br />

Breathing Space in a<br />

number of ways.<br />

❝<br />

What this initial survey of 550 StepChange<br />

clients tells us is encouraging; clients are<br />

benefitting from Breathing Space in a number<br />

of ways.<br />

Around 90 percent of clients contacting<br />

StepChange who entered Breathing Space have<br />

gone on to complete full debt advice compared<br />

to around 25 percent of clients that did not enter<br />

Breathing Space. Breathing space clients are<br />

also around two to three times more likely to go<br />

on to take up a debt solution than clients that<br />

did not enter Breathing Space. This suggests<br />

that the Breathing Space protections give people<br />

more encouragement to stay engaged with debt<br />

advice and get the debt solution they need.<br />

Importantly, clients taking up Breathing<br />

Space benefited from valuable protections they<br />

otherwise wouldn’t have had access to, such<br />

as breaks in interest, fees and charges. Before<br />

accessing Breathing Space, fewer than one in five<br />

StepChange clients received these protections<br />

from all their creditors after contacting them<br />

to say they were struggling. This re-affirms<br />

the need for statutory protections that ensure<br />

consistent forbearance from creditors and<br />

provide an incentive for people to access debt<br />

advice earlier.<br />


Breathing Space clients also had better wellbeing<br />

outcomes after debt advice, with two thirds or<br />

more reporting improved wellbeing, including<br />

sleeping better and worrying less about debts,<br />

compared with one in two among those who did<br />

not access the scheme.<br />

Despite the largely positive reception, our<br />

survey found areas where the Breathing Space<br />

scheme could be further developed to improve<br />

how clients are managed. With one in four<br />

clients saying a debt solution was not in place<br />

by the time their 60-day period had expired, and<br />

two in five saying 60 days wasn’t long enough for<br />

their situation to stabilise and to make progress<br />

with their debts, it’s clear there is a need to<br />

understand impacts across the sector and<br />

consider recommendations for improvements<br />

to the scheme.<br />

We are aiming to publish a broader evaluation<br />

later in the year based on discussions with a<br />

wider range of stakeholders including providers,<br />

creditors and advisers. We hope this work<br />

will give a clearer picture of the impact of the<br />

scheme so far and perhaps some more concrete<br />

areas for improvement.<br />

Ed McDonagh is Senior Public Policy<br />

Advocate at StepChange Debt Charity.<br />

Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 11



The opening of a new headquarters signals an<br />

exciting new chapter in the CI<strong>CM</strong>’s story.<br />

AUTHORS – Sam Wilson and Sean Feast FCI<strong>CM</strong><br />

FTER decades in the<br />

Watermill, The Chartered<br />

Institute of <strong>Credit</strong> <strong>Management</strong><br />

has a new head<br />

A.<br />

office in Peterborough.<br />

It’s part of an ongoing<br />

strategy to make the Institute more<br />

accessible and more sustainable for the<br />

future. It also confirms an ambition to<br />

create a centralised hub for members and<br />

clients to access future learning and foster<br />

even greater collaboration.<br />

It’s that collaboration that Sue Chapple<br />

says has inspired the new office design.<br />

Gone are the closed-off offices and silos,<br />

and in comes a bright, open workspace to<br />

encourage positive discussion and creative<br />

thinking. For Sue, it’s the collaboration<br />

between members, clients and partners,<br />

that will help transform the CI<strong>CM</strong> going<br />

forward.<br />

“Over the past few years, the way<br />

our Institute operates has changed.<br />

We’re working even more closely with<br />

our members, clients and partners and<br />

thanks to our new premises, we’re able to<br />

welcome them with open arms.”<br />

The new, modern office is a far cry from<br />

its old headquarters at the Watermill, a<br />

building that while charming in its own<br />

way, came with a set of challenges typical<br />

of a Listed building. The basement was<br />

prone to flooding, forcing insurance<br />

premiums through the roof, and the<br />

energy bills were also reaching eyewatering<br />

levels. Sue was also restricted in<br />

how and where her teams could work.<br />

“This new head office is not just a<br />

modernisation,” Sue continues, “although<br />

that would be reason enough. Moving to<br />

a new headquarters is an opportunity to<br />

open up the space to our members and<br />

Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 12


❝<br />

“The new office is a key part of<br />

our plan to cement our future, an investment<br />

both in the institute and its people.’’<br />

invite them to be part of our discussion<br />

around future CI<strong>CM</strong> initiatives, whilst<br />

also providing more space for learning,<br />

development and career progression.”<br />


The new office in Orton Southgate,<br />

just off the A1, provides a centralised<br />

location, accessible to more members<br />

thanks to its direct links to the capital<br />

from Peterborough train station in just 45<br />

minutes.<br />

Along with accessibility, the new space<br />

is also enabling the Institute to become<br />

more sustainable. Thanks to new lighting,<br />

energy-efficient windows and heating,<br />

the space is more financially sustainable<br />

as well as environmentally so. Another<br />

futureproofing feature important to<br />

Sue and the team was Electric Vehicle<br />

charging points.<br />

Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 13<br />

“The new office is a key part of our<br />

plan to cement our future, an investment<br />

both in the Institute and its people. It’s an<br />

investment in the future of the Institute<br />

to help us become more sustainable. The<br />

building is more cost-effective for us to<br />

run and allows us to reinvest more into<br />

our membership offering. It even has EV<br />

charging points!”<br />

The modernisation and relocation has<br />

already attracted plenty of compliments<br />

from CI<strong>CM</strong> members. Members have<br />

commented on how effective the new<br />

space is for learning and collaboration.<br />

“We’ve already hosted the most recent<br />

Executive Board and Advisory Council<br />

meetings as well as inviting our trainers<br />

in to see the space they’ll be utilising for<br />

learning. The feedback we’ve had has been<br />

refreshingly positive, and it’s going to give<br />

members and trainers a space they’re able<br />

continues on page 14 >


AUTHORS – Sam Wilson and Sean Feast FCI<strong>CM</strong><br />

❝<br />

“We’ve already hosted the<br />

most recent Executive Board<br />

and Advisory Council meetings<br />

as well as inviting our trainers<br />

in to see the space they’ll be<br />

utilising for learning.<br />

❝<br />

to utilise more effectively in the future.”<br />

The building is purpose-designed over<br />

two floors. The ground floor is given over<br />

to meeting rooms, break-out areas and a<br />

large boardroom that can be configured<br />

with ease thanks to some clever foldaway<br />

furniture. The first floor provides<br />

a modern working environment for the<br />

CI<strong>CM</strong> team. There is a spacious kitchen<br />

too for refreshments, meaning events<br />

downstairs can function independently of<br />

the day-to-day running upstairs.<br />


Financially speaking, the new office will<br />

also help the CI<strong>CM</strong> save money in areas it<br />

was unable to do so previously, allowing it<br />

to reinvest into the Institute’s future.<br />

“Now that we can host our own events,<br />

and utilise our own space, we have a<br />

centralised location that everyone can<br />

access which in turn means we can reduce<br />

the costs of hosting events externally,<br />

enabling us to reinvest more into the<br />

Institute.”<br />

This working environment has also<br />

had a knock-on effect on the CI<strong>CM</strong>’s core<br />

team: “The team are more inspired, the<br />

open plan space is encouraging them to<br />

be more creative and collaborative, and<br />

that behaviour is infectious. Visitors can<br />

see our passion.”<br />

Sue believes most importantly, the new<br />

building is an ‘enabler’ for the Institute:<br />

“It will encourage growth and ongoing<br />

development that will inspire the next<br />

generation of members and motivate<br />

everyone throughout the Institute from<br />

the trainers to the apprentices,” she says.<br />

“As a professional body, many have seen<br />

the considerable amount of progressive<br />

change we’re undergoing. This is all to<br />

raise awareness of credit management<br />

and collections, promote and develop<br />

best practice and support our members,<br />

clients, partners, and the wider industry.<br />

This office move has been a key step in<br />

that strategy and is acting as a catalyst<br />

for change, embodying our values Brave,<br />

Curious and Resilient.”<br />

The new office will be open to<br />

members through a booking system, due<br />

to be launched shortly.<br />

To find out more information, please<br />

contact info@cicm.com to book a room.<br />

Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 14

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Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 15



Sean Feast FCI<strong>CM</strong> talks to Steve Coppard about<br />

public sector debt, his time in the Cabinet Office,<br />

and why you should never believe everything you<br />

watch on TV.<br />

WHEN Steve Coppard first applied to join<br />

HM Customs and Excise, he had a vision<br />

of chasing down the bad guys on a fast<br />

rib, seizing huge quantities of cocaine<br />

with a street value of millions. Too many<br />

hours spent watching episodes of The<br />

Knock had given him something of an exaggerated impression<br />

of HM Customs and Excise’s role in supporting the revenue: “I<br />

soon discovered there were no seafaring drug-busting jobs in<br />

Croydon,” he laughs.<br />

As it was, he was put on the phone to collect outstanding VAT<br />

debts, thereby starting a love affair with debt that has sustained<br />

him throughout his career and placed him front of mind as one<br />

of the industry’s genuine thought leaders.<br />


Steve’s knowledge has been earned, partly through work and<br />

partly through bitter personal experience. For a time,<br />

Steve was so much in hook to the pay day lenders that<br />

one of them would no longer extend any credit. It<br />

was a low point that Steve can trade directly back to<br />

his upbringing, growing up as a young lad in New<br />

Addington, a tough part of Croydon, and behaviours<br />

learned from his father: “My father was a ceiling fixer<br />

and had his own business,” Steve explains.<br />

“We had a typical family relationship for that time<br />

where my father went out and earned the money and my<br />

mother stayed at home and did the cooking and cleaning, as<br />

well as a few part-time jobs. My father’s work meant we were<br />

constantly on the move. He would buy up dilapidated houses,<br />

do them up, and them sell them on for a healthy profit and then<br />

move on. It meant I’d had five schools by the time I was 11, and<br />

never bothered to form any friendships because I was always<br />

the ‘new kid’ and didn’t need to as I was never there that long.”<br />

The first significant event in Steve’s life came in 1986, when<br />

his father decided to fulfil a lifelong ambition, and buy a bar<br />

in Spain: “My father borrowed heavily and maxed out all of the<br />

credit cards and we disappeared abroad for six years. He bought<br />

a bar near Alicante but drank the proceeds and became an<br />

alcoholic. When we arrived, there were only four English bars<br />

in our town. By the time we left there were 400.”<br />


Down to their last few pesetas, Steve’s father decided to do a<br />

moonlight flit. Eventually making it back to the UK, Steve<br />

had no money and nowhere to live, so went to stay with his<br />

grandmother in her council flat in South Norwood.<br />

With no qualifications and little formal education of any<br />

note, Steve took it upon himself to contact his local school and<br />

study for his GCSEs. Although by now 17, he thought nothing of<br />

joining a class of pupils three or four years his junior: “It didn’t<br />

bother me, and I was determined to get some qualifications.<br />

Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 16


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

I managed an A Star in Spanish, despite<br />

never having taking the course!”<br />

Signing on while at school, the<br />

Department of Social Security were soon<br />

on to him and told him he needed to look<br />

for work: “With six years’ working in bars,<br />

I didn’t have much experience, but did get<br />

a job as a Bingo caller,” he smiles.<br />

A lucky break working with Tesco led<br />

to an opportunity to join its management<br />

training scheme, and further training<br />

followed with Allders, but his heart was<br />

never in retail and when an opportunity to<br />

join HM C&E presented itself, he jumped<br />

at the chance: “I started in telephone<br />

collections and found I was good at it.<br />

I seemed to put in half the effort and<br />

achieve twice as much as the people<br />

around me.<br />

“VAT collections in those days were<br />

pretty hard core. You knew the business<br />

had had the money in and that they had<br />

not passed on the tax to the Government<br />

but chosen to do something else with it.<br />

We would say to businesses that if they<br />

couldn’t afford to pay, then they were a<br />

risk to the revenue, and we would think<br />

nothing of using civil recoveries prior to<br />

insolvency.”<br />


Steve, however, wasn’t comfortable with<br />

the approach: “I kept wondering how I<br />

would feel if I had some officious so and<br />

so on the phone to me, and no wonder<br />

they would get angry. You’d hear the same<br />

people having the same arguments, and<br />

getting the same outcomes, and nobody<br />

was talking to the business owners as<br />

adults and having a mature conversation.<br />

“I looked up the definition of<br />

insolvency which I would<br />

summarise on the phone, and<br />

then ask the business how<br />

we could resolve it. That got<br />

me into the psychology of debt<br />

and to the concept that we needed<br />

to change our way of thinking to get<br />

people out of debt, rather than debt out<br />

of people.<br />

❝<br />

Too many hours spent watching<br />

episodes of The Knock had given<br />

him something of an exaggerated<br />

impression of HM Customs and<br />

Excise’s role in supporting the<br />

revenue: “I soon discovered there<br />

were no seafaring drug-busting<br />

jobs in Croydon,”<br />

Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 17<br />

continues on page 18 >


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

“Big organisations often have great ideas<br />

strategically,” he adds, “but unless they are<br />

in touch with the coal face they won’t know<br />

if their strategy is being implemented on the<br />

front line. Getting through multiple layers of<br />

management, some positively hostile to change,<br />

can be a challenge.”<br />

Steve’s success meant he was soon running<br />

several teams of collectors, and admits he made a<br />

few rookie management errors: “I am not a born<br />

leader,” he jokes. He started tinkering with his<br />

teams’ approach: “I began to question whether<br />

we should be having the same conversation<br />

with Crystal Palace FC that we would have with<br />

a local hairdresser, and that led to the first use<br />

of customer segmentation and targeting, albeit<br />

that we had to do the job manually.”<br />


With the merger of Customs and Excise with<br />

The Inland Revenue to become HMRC, Steve<br />

secured further promotion, becoming a site<br />

leader: “I was running a site with more than 100<br />

people in it but some had little or no training<br />

so I would write process guides and manuals<br />

for them and our performance improved<br />

dramatically.”<br />

A move into Debt <strong>Management</strong> Business<br />

Analytics meant analysing the performance<br />

data of more than 6,500 collectors, stitching<br />

dot matrix-printed reports into meaningful<br />

intelligence. The information gleaned proved<br />

very insightful: “It allowed us to remove from<br />

the reports volumes of managed debt – i.e debt<br />

that had already been worked – and that gave us<br />

a much clearer picture on performance,” Steve<br />

explains.<br />

Unfortunately for Steve, his work in analytics<br />

and later in Lean transformation coincided with<br />

a difficult period in his personal life: “It took<br />

a bit of a nosedive,” he admits candidly, “and I<br />

racked up a huge amount of personal debt. I’d<br />

know all the tricks. I learned not to give my<br />

name when answering the phone and then<br />

waiting until they rung off. I would hide when<br />

bailiffs come to the door and at one point had<br />

200 final demand letters stuffed into a drawer.<br />

My mental health was all over the place and I<br />

was at rock bottom.”<br />

Help came in the form of his manager: “My<br />

boss said to me that he would help me but<br />

only if I helped myself. I went to group therapy<br />

every night for six months and was obliged to<br />

deconstruct my belief mechanism and build up<br />

a new version of who I wanted to be.”<br />


It worked, and Steve was soon back in the fray,<br />

confident enough to apply for and gain his first<br />

senior management role, managing commercial<br />

contracts between the external debt collection<br />

agencies and HMRC. This later transitioned to<br />

become the Indesser joint venture as the Debt<br />

Market Integrator (DMI).<br />

❝<br />

“We’re currently<br />

thinking about which<br />

debt-related badges<br />

we should have,<br />

and the CI<strong>CM</strong> are<br />

certainly part of<br />

that conversation.<br />

We need to think<br />

about continuous<br />

professional<br />

development in the<br />

thought leadership<br />

space.”<br />

❝<br />

The role at the time was temporary but after<br />

two years became permanent: “I was in a team<br />

that was effectively the intelligent customer<br />

team for the DMI,” he continues, “and the<br />

contracts were managed by the Framework<br />

Authority in the Cabinet Office.<br />

“Kathryn Turner was on temporary promotion<br />

to Deputy Director and was leading the DMI<br />

programme from the Cabinet Office. We’d met<br />

up a couple of times, and she told me they<br />

were looking to set up the functional model of<br />

Government, and the Framework Authority for<br />

DMI was likely to be part of it.<br />

“Six months later she texted me and asked,<br />

hypothetically, whether I’d be interested in<br />

temporary promotion in the Cabinet Office if<br />

I was offered it. Conversations in the corridors<br />

followed and we made it happen. She was the<br />

first person to really teach me about leadership<br />

and encouraged me to get out there and start<br />

talking about debt.”<br />

As the commercial lead managing the<br />

Framework Authority, Steve was now regularly<br />

meeting with Ministers and the head of the Civil<br />

Service, Sir John Manzoni and admits he shook<br />

like a leaf in their first meeting: “I tripped over<br />

my words and think I even swore, but he didn’t<br />

seem to mind!”<br />

When Kathryn moved on (she is now Vice<br />

President, Head of Client Group at CapGemini),<br />

Steve took another scary leap, applying for and<br />

becoming Deputy Director for the Government’s<br />

Debt management function: “This was quite a<br />

step up into the senior civil service,” he adds.<br />

“We’d been doing some fantastic work, albeit<br />

quietly, putting vulnerable customers at the<br />

heart of what we were doing, and I thought if<br />

I didn’t go for the job, and somebody new came<br />

in, they could undo all of the good work we’d<br />

already done. I thought that if that’s the way I<br />

felt about it, then I needed to get in the ring,<br />

allow the critics to throw stones and be mired in<br />

blood sweat and tears!”<br />


The new title and status gave Steve the platform<br />

to drive the conversation in Government: “It<br />

wasn’t a conversation that was going on,” he<br />

says. “TCF and vulnerable customers were<br />

a big thing in the private sector, but not so in<br />

managing Government debt.”<br />

On his first day in post, John Manzoni called<br />

Steve into his office: “He said Citizens Advice<br />

had written to him twice and said we were all<br />

pants, the Treasury Select Committee looking at<br />

the household finance and debt inquiry headed<br />

up by Nicky Morgan (now Baroness Morgan)<br />

said we were pants, and the National Audit<br />

Office said we were pants, and what was I doing<br />

about it!?”<br />

Steve’s goal was to get a version of TCF<br />

into legislation for all of Government: “It’s a<br />

conversation that is still ongoing,” he says, “but<br />

we weaved the narrative of vulnerability and TCF<br />

Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 18


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

through creating the cross Government<br />

debt strategy, the Government Debt<br />

Standard, and joint public statements with<br />

the Fairness Group, CAB and others. I also<br />

weaved it into all of the public speaking<br />

I was doing such that I believe we have<br />

built it into the fabric of Government debt<br />

so that now it can’t be unpicked.”<br />

Although happy in his work, Steve<br />

felt he needed another challenge. A<br />

conversation with Jamie Waller led him<br />

to join Arum, where he has a free rein to<br />

think and advise across both Arum (an<br />

independent provider of advisory and<br />

professional services within collections<br />

and revenue) and Just (the enforcement<br />

market integrator, providing a single<br />

route to access industry leading experts<br />

on resolving problem debt): “Being able to<br />

bring public sector expertise and thought<br />

leadership to two companies with some of<br />

the finest minds in the industry was too<br />

good an opportunity to turn down,” he<br />

says.<br />

On the day that we speak, Steve had<br />

been considering a response to the<br />

Statutory Debt Repayment Plan (SDRP)<br />

consultation, which he is likely to turn<br />

into a whitepaper. He enjoys the time to<br />

think and consider, and an environment<br />

where he is also allowed to fail fast. He<br />

also enjoys his interaction with the CI<strong>CM</strong>,<br />

having known Sue Chapple FCI<strong>CM</strong>, CI<strong>CM</strong><br />

Chief Executive, in the days of Indesser,<br />

and as a regular judge for the British<br />

<strong>Credit</strong> Awards: “We’re currently thinking<br />

about which debt-related badges we<br />

should have,” he adds, “and the CI<strong>CM</strong><br />

are certainly part of that conversation.<br />

We need to think about continuous<br />

professional development in the thought<br />

leadership space.”<br />

The peace he enjoys is a world away<br />

from the crash and wallop of another<br />

passion of his, Punk Rock: “I’ve seen<br />

them all over the years,” he says. “The<br />

Damned, the Cyanide Pills, the Ramones,<br />

the Addicts. I used to go to the Rebellion<br />

Festival every year, but now I’ve got old<br />

and lazy and just go and see local bands.<br />

“It gets me out of the peace and quiet!”<br />

Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 19

Thursday 2 February 2023<br />

The Royal Lancaster, London<br />



Following a record breaking <strong>2022</strong> event the<br />

CI<strong>CM</strong> British <strong>Credit</strong> Awards are back for 2023.<br />

The British <strong>Credit</strong> Awards recognise the stand out achievements<br />

of the most deserving individuals, teams and organisations in the<br />

international credit industry. Join us as we celebrate your achievements<br />

and recognise all the hard work you have achieved this year. So take a<br />

look at the categories, and think which one you, your colleagues or your<br />

team deserve. Enter or nominate today!<br />

Here is your opportunity to be rewarded as what is recognised as the<br />

highest accolade you can receive in your profession. 2023, it’s your<br />

chance to lift the trophy!<br />

To find out about the exceptional range of sponsorship opportunities available at the CI<strong>CM</strong> British <strong>Credit</strong><br />

Awards please contact Will Bolton to request a copy of our full sponsorship information pack.<br />

Will Bolton – Business Development Manager<br />

T: +44 (0)207 484 9796 | E: will.bolton@incisivemedia.com

2023 AWARDS<br />


Entries open until<br />

Friday 23 <strong>September</strong> 2023<br />

B2B Team Award<br />

B2C Collections Team Award (new for 2023)<br />

Supplier of the Year Award<br />

Social Mobility & Inclusion Award<br />

Innovation & Technology Award<br />

Best Employer Award<br />

Risk <strong>Management</strong> Achievement Award<br />

Shared Service Provider Award<br />

Debt Collection Agency Award<br />

Insolvency Team Award<br />

Legal Provider Award<br />

Giving Back Award<br />

Rising Star Award<br />

Resilience & Continuity Award<br />

<strong>Credit</strong> & Collections FinTech Supplier Award (new for 2023)<br />

Financial Services - Payment Innovation Award (new for 2023)<br />

Sir Roger Cork Prize (announced on the night)<br />

Jenny Oldfield Supporting Women Award<br />

<strong>Credit</strong> Professional of the Year Award<br />

Outstanding Contribution to the Industry<br />

Excellence in <strong>Credit</strong> <strong>Management</strong> (announced on the night)<br />

For more information visit<br />

www.cicmbritishcreditawards.com<br />

or scan the QR code to be directed to our website

CI<strong>CM</strong> ADVISORY COUNCIL<br />

Shaping the future<br />

CI<strong>CM</strong> Advisory Council gains new members.<br />

THE success of the CI<strong>CM</strong> Advisory<br />

Council is centred around<br />

having members from different<br />

specialisms and regions so that<br />

it reflects the diverse range of<br />

skills and experience amongst the<br />

Institute’s membership. This year’s elections<br />

welcomed several new and re-elected members<br />

keen to bring their individual insights and<br />

experience to the Council.<br />

Dave Hindle FCI<strong>CM</strong>, CEO of Propensio<br />

Finance, has taken on responsibility as the<br />

Regional Representative for Yorkshire & Humber.<br />

He’s worked in the Consumer <strong>Credit</strong> sector<br />

since 1990 – initially in Collections and then,<br />

since 1997, in Consumer Lending. In the last 12<br />

years, he’s founded two successful businesses<br />

in the Regulated lending sector. His ‘major’ is<br />

Operations & processes which deliver value and<br />

quality to internal and external stakeholders:<br />

“I’ve been a Fellow of the CI<strong>CM</strong> for four years<br />

but, other than the monthly magazine, have<br />

never really utilised all the great support and<br />

services available such as the knowledge hub<br />

and the broad array of quality training courses.<br />

I’d like to help my region reach a wider audience<br />

by a more active approach to promoting all this<br />

great content, not only via the branches but also<br />

directly with some of the other professional and<br />

trade bodies I work with.<br />

Brendan Clarkson FCI<strong>CM</strong> is soon to take up<br />

a new role of Client Services Director at Azzurro<br />

Associates. He started his career at Bank of<br />

Scotland in the Finance and Leasing team back<br />

in 1995, and is proud to represent <strong>Credit</strong> Services:<br />

“I have now worked within credit for 27 years,<br />

and my focus has never been that far from<br />

credit management/risk. There is no doubt the<br />

country has faced enormous challenges over<br />

the past three years and credit has never had a<br />

bigger platform to show its ability to support the<br />

economy. I am excited for the two years to come,<br />

and with the support of the chartered institute,<br />

we are preparing a schedule both at the national<br />

and branch level to engage all members and<br />

hopefully bring new members in too.’’<br />

Paula Swain FCI<strong>CM</strong> is a Partner with UK law<br />

firm, Shoosmiths. From its office in Hampshire,<br />

she leads a team of 25 commercial debt recovery<br />

legal specialists acting for a broad range of<br />

medium to large corporates across a range of<br />

sectors. She is a Fellow of the CI<strong>CM</strong> and sits on<br />

the CI<strong>CM</strong> Technical Committee and CI<strong>CM</strong> Think<br />

Tank. Now she is also the Regional Representative<br />

for the South East: “I work closely with <strong>Credit</strong><br />

<strong>Management</strong> professionals as part of my day job,<br />

and I am committed to supporting the strength<br />

and success of their profession. My new Advisory<br />

Council role gives me an opportunity to work<br />

more closely with branches and members in<br />

the South East. I believe in working towards<br />

a stronger sense of togetherness for members<br />

in my region with the strongest possible<br />

communication between the CI<strong>CM</strong> and members<br />

who can’t always get to larger or regional events.<br />

This starts with getting to know those leading our<br />

local branches, and discussing how we support<br />

and grow that community: “The experience and<br />

knowledge of our credit professionals is always<br />

essential to the health of our economy, but even<br />

more so during a recession. A strong community<br />

of members will help to support each other and<br />

ensure the strongest possible flow of knowledge.<br />

I am excited to meet like-minded professionals,<br />

and to help support and grow our membership.”<br />

Amanda Phelan MCI<strong>CM</strong>(Grad) is Head of<br />

<strong>Credit</strong> and Collections at Bechtle Direct Limited<br />

in Dublin. She has a career in credit spanning<br />

25 years, and is the newly elected Regional<br />

Representative for Scotland, Ireland and Northern<br />

Ireland: “I was delighted to be elected to the<br />

Advisory Council recently as I have been on the<br />

Irish Committee for the last number of years and<br />

we have been trying to raise the profile of <strong>Credit</strong><br />

<strong>Management</strong> here. However, the pandemic made<br />

this exceptionally difficult and as such we have<br />

all had to adjust to a new way of communication<br />

and learning. As recently stated in our Regional<br />

meeting I do feel that this is the perfect time for<br />

a renaissance of sorts and am excited to be a part<br />

of the future change and development within the<br />

organisation.”<br />

Allan Poole<br />

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

Debbie Nolan<br />

FCI<strong>CM</strong>(Grad)<br />

Laurie Beagle<br />

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

Atul Vadher<br />

FCI<strong>CM</strong>(Grad)<br />

Paula Swain<br />

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

Dave Hindle<br />

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

Amanda Phelan<br />

MCI<strong>CM</strong>(Grad)<br />

Brendan Clarkson<br />

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

Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 22

CI<strong>CM</strong> ADVISORY COUNCIL<br />

Trade <strong>Credit</strong> Representatives<br />

Victoria Herd FCI<strong>CM</strong>(Grad)<br />

Martin Kirby FCI<strong>CM</strong><br />

Phil Rice FCI<strong>CM</strong><br />

International <strong>Credit</strong> Representatives<br />

Laurie Beagle FCI<strong>CM</strong><br />

Glen Bullivant FCI<strong>CM</strong><br />

Charles Mayhew FCI<strong>CM</strong><br />

Consumer <strong>Credit</strong> Representatives<br />

Caroline Asquith-Turnbull FCI<strong>CM</strong><br />

Neil Jinks FCI<strong>CM</strong><br />

Debbie Nolan FCI<strong>CM</strong>(Grad)<br />

Victoria Herd<br />

FCI<strong>CM</strong>(Grad)<br />

Glen Bullivant<br />

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

Neil Jinks<br />

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

<strong>Credit</strong> Services Representatives<br />

Brendan Clarkson FCI<strong>CM</strong><br />

Larry Coltman FCI<strong>CM</strong><br />

Chris Sanders FCI<strong>CM</strong><br />

Regional areas covered<br />

East Midlands<br />

Mark Taylor MCI<strong>CM</strong><br />

Martin Kirby<br />

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

Caroline Asquith-Turnbull<br />

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

Phil Roberts<br />

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

East of England<br />

Atul Vadher FCI<strong>CM</strong>(Grad)<br />

London<br />

Laural Jefferies FCI<strong>CM</strong><br />

North East<br />

Allan Poole MCI<strong>CM</strong><br />

Peter Gent<br />

FCI<strong>CM</strong>(Grad)<br />

Chris Sanders<br />

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

Laural Jefferies<br />

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

North West<br />

Peter Gent FCI<strong>CM</strong>(Grad)<br />

Scotland, Northern Ireland & Ireland<br />

Amanda Phelan MCI<strong>CM</strong> (Grad)<br />

South East<br />

Paula Swain FCI<strong>CM</strong><br />

South West<br />

Phil Roberts FCI<strong>CM</strong> (Casual)<br />

Phil Rice<br />

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

Andrew Hignett<br />

MCI<strong>CM</strong>(Grad)<br />

Mark Taylor<br />

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

Wales<br />

Hans Meijer FCI<strong>CM</strong><br />

West Midlands<br />

Andrew Hignett MCI<strong>CM</strong> (Grad)<br />

Yorkshire & Humber<br />

Dave Hindle FCI<strong>CM</strong><br />

Larry Coltman<br />

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

Charles Mayhew<br />

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

Hans Meijer<br />

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

Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 23

CI<strong>CM</strong> TRAINING<br />

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Now, more than ever, the <strong>Credit</strong> <strong>Management</strong> and Collections industry is<br />

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and Collections teams.<br />

CI<strong>CM</strong> Training offers high-quality approaches to credit-related topics.<br />

Granting you the practical skills and necessary tools to use in your workplace<br />

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Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 24

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Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 25

Apprentice profile<br />

RYAN Weir has been working for United<br />

Utilities since the age of 16 (back in<br />

2008). Starting work within the billing<br />

department on a temporary contract,<br />

he succeeded in securing full time<br />

employment in 2010, and since 2011 has<br />

been working in the Income Team in Whitehaven.<br />

“My role mainly comprises speaking with customers<br />

over the phone or digitally in order to obtain full<br />

payment of outstanding debts,” he explains. “During my<br />

time with the company, I have worked across different<br />

departments and made lifelong friends.”<br />

Since joining the Income Team, Ryan has taken part<br />

in many different projects and additional tasks: “I am<br />

always eager to do different things in order to further<br />

my development and progress within the department<br />

which is why I jumped at the chance to do a CI<strong>CM</strong><br />

apprenticeship.<br />

“The apprenticeship, although a considerable amount<br />

of work, is really well planned and allows you to work at<br />

a steady pace both from home and in the office. Since<br />

starting the programme in June 2021, I have gained a<br />

wider knowledge of the credit industry which will help<br />

me develop and progress my career at United Utilities.<br />

There has been plenty of support throughout my<br />

apprenticeship journey so far and with 20 percent of my<br />

hours being off the job learning, it has allowed me to<br />

make the most of the programme.”<br />

Ryan would have no hesitancy in recommending an<br />

apprenticeship to others: “I would absolutely recommend<br />

an apprenticeship through CI<strong>CM</strong> to anyone who wishes<br />

to further their career within United Utilities and the<br />

credit industry,” he adds.<br />

“The programme itself can be challenging and does<br />

require some work in your own time, but I’m enjoying<br />

the apprenticeship so far and I am looking forward to<br />

completing the rest of the course.”<br />

Latest in a new series<br />

of how CI<strong>CM</strong>-led<br />

Apprenticeships are<br />

supporting professional<br />

development.<br />

Ryan Weir<br />

Income Team<br />

Whitehaven<br />

“The apprenticeship, although a<br />

considerable amount of work, is really well<br />

planned and allows you to work at a steady<br />

pace both from home and in the office.<br />

Since starting the programme in June 2021,<br />

I have gained a wider knowledge of the<br />

credit industry which will help me develop<br />

and progress my career at United Utilities.’’<br />

‘‘There has been plenty of support<br />

throughout my apprenticeship<br />

journey so far and with 20 percent of<br />

my hours being off the job learning,<br />

it has allowed me to make the most<br />

of the programme.”<br />

Apprenticeships in <strong>Credit</strong><br />

Control and Collections<br />

There are five apprenticeships for those working in the credit<br />

profession. At each Level of apprenticeship you will be able to<br />

gain professional CI<strong>CM</strong> qualifications<br />

• <strong>Credit</strong> Controller/Collector<br />

• Advanced <strong>Credit</strong> Controller and Debt Collection Specialist<br />

Apprenticeship<br />

• Compliance/Risk Officer Apprenticeship<br />

• Senior Compliance/Risk Specialist Apprenticeship<br />

• Financial Services Degree Apprenticeship<br />

For more details on how CI<strong>CM</strong> can help you start your<br />

apprenticeship journey, visit cicm.com/apprenticeships<br />

Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 26


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Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 27


How are DCAs managing the impact of distressing<br />

calls on customers and their own staff?<br />

AUTHORS – Sean Feast FCI<strong>CM</strong> and Mel York<br />

Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 28


AUTHORS – Sean Feast FCI<strong>CM</strong> and Mel York<br />

BRITAIN is in the worst cost<br />

of living crisis it has seen in<br />

decades. At the end of July,<br />

Citizens Advice reported it had<br />

helped more people in the first<br />

half of <strong>2022</strong> than the whole of<br />

2019 and 2020 combined. The biggest problem<br />

it sees is people unable to pay their energy<br />

bills. Many are falling into a credit crisis, and<br />

calls with debt collection agencies are growing<br />

in number and are increasingly stressful for all<br />

concerned.<br />

Last year over four million people struggling<br />

with bills and credit repayments borrowed a total<br />

of £13bn to pay bills and reach payday. Since the<br />

war in Ukraine and the associated food and fuel<br />

crisis, the situation has worsened. And it will<br />

continue to do so if the economic predictions<br />

are correct. In July, EY suggested household<br />

spending would be squeezed as inflation peaked<br />

at 11 percent this Autumn whilst wages would<br />

only rise 5.5 percent, resulting in the biggest<br />

real wage decline since the 1970s. Just a couple<br />

of weeks later, EY revised its inflation estimate<br />

to 15 percent and forecast earnings increases<br />

would remain below inflation until 2024.<br />


Of households struggling financially, some<br />

51 percent are in problem debt, meaning they<br />

have no safety net other than to borrow in order<br />

to make ends meet. Their lack of financial<br />

resilience often results from unemployment,<br />

illness or relationship breakdown, which<br />

reduces income to the point where they can no<br />

longer pay for essentials such as electric, gas<br />

and food.<br />

Small business owners are also struggling.<br />

Official figures show insolvencies registered<br />

in the second quarter of this year are the<br />

highest since the 1960s. A recent survey of<br />

small businesses found that almost 80 percent<br />

of SMEs see this cost-of-living crisis as their<br />

biggest threat. Over a quarter were not sure<br />

their business would survive another year.<br />

Small office/home office and sole traders are<br />

especially vulnerable.<br />

As more people lose their income and fall into<br />

debt, the number of calls being handled by debt<br />

collection agencies rises and the calls become<br />

increasingly distressing – for both the caller and<br />

the call handler. Before the pandemic, the <strong>Credit</strong><br />

Services Association (CSA) issued an update<br />

to its Code of Practice, ‘Dealing with Suicidal<br />

Customers’, covering both the need to refer<br />

matters to the Police immediately if a customer<br />

is threatening actual self-harm or suicide during<br />

a call, and steps to take in circumstances where a<br />

customer becomes very distressed during a call.<br />

To that end, companies are not only training<br />

staff to be more sensitive and supportive to<br />

their customers but also providing them with<br />

tools and processes to help call handlers' own<br />

mental well-being. Several shared details of the<br />

type of training and support they provide, which<br />

❝<br />

Last year over<br />

four million people<br />

struggling with<br />

bills and credit<br />

repayments borrowed<br />

a total of £13bn to<br />

pay bills and reach<br />

payday. Since the<br />

war in Ukraine<br />

and the associated<br />

food and fuel crisis,<br />

the situation has<br />

worsened.<br />

❝<br />

Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 29<br />

organisations they turned to for expert advice,<br />

and what more they think the industry should<br />

be doing.<br />


Call handlers are not trained councillors.<br />

Recognising a caller who is highly distressed<br />

and potentially suicidal is not always easy. Many<br />

customers will not volunteer information which<br />

explains their situation in full. But several<br />

leading firms have introduced special training<br />

to help their agents learn the most critical skill,<br />

recognising when a client is vulnerable. They<br />

are taught to listen for signs of difficulties such<br />

as a passing mention of bereavement, ill health,<br />

a change in circumstance or a reluctance to<br />

share financial information.<br />

They also learn the do’s and don’ts’ of how<br />

to speak to distressed clients. Denise Crossley<br />

FCI<strong>CM</strong>, CEO of Lantern UK, says that all of<br />

her staff are trained to follow the Harmed and<br />

Shush conversation models: “Our vulnerability<br />

training includes content regarding mental<br />

health and suicidal customers,” she explains.<br />

Knowing how to handle these conversations<br />

gives call handlers the confidence to overcome<br />

their fears of being intrusive, overly familiar,<br />

or personal with a client. And how to handle<br />

clients who either do not wish to disclose their<br />

vulnerability or may not even be aware they are<br />

in a situation which makes them vulnerable.<br />

Training provides agents with the tools to<br />

gain a person’s trust so that they can reveal<br />

more about the difficulties they face, both<br />

financial and personal. Learning how to create<br />

an environment where clients feel comfortable<br />

talking about their situation opens up<br />

opportunities for the agent to provide the right<br />

kind of support and discuss the next steps.<br />

Martin Roseweir FCI<strong>CM</strong>, Managing Director<br />

of Allied International <strong>Credit</strong> (AIC), says that the<br />

most important aspect of training, is learning<br />

how to listen: “Within our compliance training,<br />

three courses focus on how to listen for potential<br />

‘triggers’ that a customer may be vulnerable, and<br />

how to support the customer,” he says. “Staff are<br />

taught through a mix of classroom facilitation,<br />

online learning with assessments and practical<br />

role-play/mock call exercises.”<br />

Those exercises, he says, allow the agents to<br />

practise difficult conversations and build their<br />

confidence in low-stress, safe environments.<br />

AIC uses the TEXAS method to help staff deal<br />

with conversations around vulnerability. And<br />

all front-line staff learn the BLAKE (Breathe,<br />

Listen, Ask, Keep safe, End) procedure for<br />

high-risk situations. The BLAKE method guides<br />

handlers through the call, signalling when they<br />

need to act, such as referring the client to an<br />

organisation like MIND, one of the UK’s most<br />

prominent and oldest mental health charities,<br />

or the Samaritans. It also tells the call handler<br />

how to take care of themselves, reassuring them<br />

that these calls can be frightening, and that selfcare<br />

is essential.<br />

continues on page 30 >


AUTHORS – Sean Feast FCI<strong>CM</strong> and Mel York<br />


It is incredibly important that firms<br />

support their frontline staff both during<br />

and after the call. Different firms have<br />

different approaches to providing that<br />

support.<br />

Denise Crosley says that Lantern<br />

staff members must alert a team leader<br />

immediately if they are concerned about<br />

a caller’s welfare. Once alerted, the team<br />

leader or other agents will work in the<br />

background by making suggestions and,<br />

if necessary, contacting any emergency<br />

services needed: “This approach keeps<br />

the customer on the phone talking, rather<br />

than putting the client on hold,” she adds.<br />

Once the call is over, Lantern advises staff<br />

on well-being and offers support.<br />

David Sheridan FCI<strong>CM</strong>, Operations<br />

Director at ARC Europe, says that his<br />

firm takes a slightly different approach:<br />

“We have created an escalation process<br />

(‘hand up - stand up’) to ensure the more<br />

senior staff deal with these calls. They<br />

will literally take the call from a junior<br />

call handler, so we support them and<br />

the caller,” he explains. “We also provide<br />

an Employee Assistance Programme to<br />

support our staff through the aftermath<br />

of these tough calls.”<br />


Educating staff to have the right<br />

conversations with vulnerable people,<br />

which will help those individuals to<br />

open up about their financial or other<br />

problems, and how to cope with these<br />

increasingly common stressful calls<br />

requires expertise in counselling and<br />

empathic listening. Firms have turned to<br />

organisations skilled and experienced in<br />

dealing with the most distressed people.<br />

Team leaders, learning and<br />

development and customer experience<br />

managers at Lantern all received mental<br />

health training from the Leeds branch<br />

of MIND. All operational staff receive<br />

training on vulnerability, mental health<br />

and handling calls from distressed clients<br />

from Money Wellness, an organisation<br />

offering debt advice to the public. These<br />

programmes have helped Lantern create<br />

and improve its staff training materials,<br />

and is in addition to the six-week training<br />

programme delivered to all employees<br />

through its Academy.<br />

ARC Europe invests in external training<br />

from an organisation that trains the<br />

Samaritans, and targets this training<br />

at the more senior agents to be able to<br />

handle distressed calls more effectively.<br />

Like AIC it also follows BLAKE, a process<br />

taught to all front-line staff.<br />

Intrum similarly uses TEXAS, BLAKE,<br />

and other industry standard protocols.<br />

David Price, Compliance Director,<br />

Intrum UK, says the firm has a dedicated<br />

Customer Care Team who look after and<br />

support those customers who are regarded<br />

as extremely vulnerable and require<br />

immediate attention: “The Customer Care<br />

Team have years of experience of dealing<br />

with all types of situations and have been<br />

trained by recognised professionals,” he<br />

explains.<br />

“This team understand how to manage<br />

and empathise with a suicidal customer,<br />

create the conditions for change and help<br />

a crisis customer in that moment. That<br />

means forgetting the job and trying to<br />

connect with the customer so they feel<br />

❝<br />

“This team understand how<br />

to manage and empathise<br />

with a suicidal customer,<br />

create the conditions for<br />

change and help a crisis<br />

customer in that moment.<br />

That means forgetting the job<br />

and trying to connect with<br />

the customer so they feel<br />

valued, so the conversation<br />

they have can save a life,<br />

whilst keeping themselves<br />

safe in the process.”<br />

❝<br />

valued, so the conversation they have can<br />

save a life, whilst keeping themselves safe<br />

in the process.”<br />

David points to his own experience<br />

in dealing with vulnerable customers,<br />

and has recently implemented a new<br />

vulnerability project to enhance its<br />

current programmes: “We have created a<br />

team of ‘Vulnerability Champions’ across<br />

Intrum UK who will undertake accredited<br />

‘best in class’ training on customer<br />

vulnerability over the summer months,”<br />

he says.<br />

“We will then implement key<br />

vulnerability training to the rest of the<br />

collections teams, using the knowledge<br />

we have gained to be ‘best in class’.<br />

Our aim is to ensure our collectors are<br />

knowledgeable on all aspects of customer<br />

vulnerability, this will ensure we provide<br />

the best outcomes possible for our<br />

customers.”<br />

Martin Roseweir says that AIC’s<br />

Learning & Development Manager (LDM)<br />

is certified in Mental Health customer<br />

support training and Mentally Healthy<br />

Workplace training: “The LDM uses<br />

that knowledge in the learning content<br />

developed for our employees. Additional<br />

resources such as the Financial Conduct<br />

Authority (CONC guidelines), Money<br />

Advice Liaison Group, and industry<br />

codes of practice are also vital in not only<br />

sustaining the knowledge base but also<br />

upskilling with any updated reference<br />

points to an important topic.”<br />

John Ricketts, Managing Director at<br />

Ardent <strong>Credit</strong> Services, agrees. Ardent<br />

uses the publicly available standards, tools<br />

and frameworks to support best-in-class<br />

training: “The core focus of our training<br />

is to avoid causing additional distress<br />

to those who are suffering and to use a<br />

combination of signposting, empathy<br />

in conversation and where relevant,<br />

keeping customers talking whilst we alert<br />

emergency services.’’<br />


Interestingly, Ardent does not apply<br />

any restrictions on call duration and,<br />

in the most extreme circumstances,<br />

will make a direct notification to the<br />

emergency services while the agent is<br />

still on the call. It supports its staff with<br />

immediate debriefs, so that even the<br />

most experienced and competent call<br />

handlers can share their experiences.<br />

It also provides unlimited professional<br />

counselling as required as part of the free<br />

Employee Assistance Program.<br />

What is apparent from these few<br />

examples is that DCAs are a world<br />

away from the lazy media stereotype<br />

of an industry that relentlessly pursues<br />

individuals with threats and intimidation.<br />

As David Sheridan suggests: “The industry<br />

has come a long way from the historic<br />

image of leather-jacketed skin-headed<br />

bailiffs. And even though it’s still difficult<br />

to sugar coat the consequence of possibly<br />

losing your car, most communications I<br />

see are mindful and encourage positive<br />

engagement.”<br />

John Ricketts concurs: “In our business<br />

we consistently receive (in a calendar<br />

month) more positive comments/direct<br />

compliments from customers than upheld<br />

complaints. Saying that, we are aware that<br />

many customers who feel supported and<br />

complimentary are talking about ‘’being<br />

surprised of how nicely they have been<br />

treated by the debt collectors’ and ‘it was<br />

silly of me to worry about dealing with<br />

you as it as a great help’.<br />

“This shows that stereotyping of debt<br />

collection process as ‘scary bullying’ is<br />

very much alive and more needs to be<br />

done in publishing positive stories and<br />

comments and statistics on compliments<br />

Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 30


AUTHORS – Sean Feast FCI<strong>CM</strong> and Mel York<br />

received. Customer satisfaction scoring works up to a point<br />

but being ‘satisfied’ with the service received is different<br />

from feeling actively supported, listened to and helped.”<br />

Agencies primarily collaborate with individuals to find<br />

a solution to their debt problem, partly with the longerterm<br />

goal of retaining the end consumer for the client.<br />

But the industry has learned to listen with empathy to an<br />

individual’s plight, and that compassion enables them to<br />

help distressed people with more than just debt issues when<br />

needed.<br />

As John says, the industry could do more to convince<br />

people that it has changed. Customers need to know they<br />

will be supported and looked after, and that the industry is<br />

dedicated and has trained staff to handle difficult situations<br />

sensitively, Denise agrees: “The industry needs to share its<br />

story,” she says, “through case studies and stories which<br />

explain to the customer they are in safe hands, that we are<br />

positive and willing to engage. This would then promote<br />

healthier and more meaningful conversations.”<br />


David Price also feels that the industry could be doing<br />

more: “There needs to be more focus at trade association<br />

meetings,” he says. “Some DCAs’ knowledge around customer<br />

vulnerability is dated and they need to get acquainted with<br />

the new guidance from the FCA and support tools which are<br />

available from the firms such as the Money Advice Trust.<br />

If DCAs are aligned, this will also support and embrace<br />

changing the perception of debt collection in the financial<br />

services industry.”<br />

Notwithstanding David’s view, Martin Roseweir believes<br />

that the industry has changed substantially since the FCA<br />

was formed eight year ago: “Customer experience has<br />

become more open and more honest,” he says. “Customers<br />

are discussing their vulnerabilities with our staff, which<br />

ultimately helps us all make more informed decisions.”<br />

Martin says that the culture within AIC specifically has<br />

changed; he says there is now much greater trust, and that<br />

‘debt collection’ comes secondary to a customer’s wellbeing.<br />

But he wonders whether this culture exists across<br />

the entire industry.<br />

Certainly, the CSA would like it so. Chris Leslie,<br />

the CSA’s CEO, says the trade body supports both the<br />

customer and its members: “At the heart of the CSA Code<br />

of Practice is an expectation that customers in vulnerable<br />

circumstances and facing financial difficulties must be<br />

helped to obtain the right advice and support. Ensuring<br />

that debt collection agencies can offer appropriate and<br />

timely referrals suitable for a customer’s circumstances is<br />

an important priority for our sector – especially if those<br />

individuals are distressed or expressing potentially selfharming<br />

thoughts,” he explains.<br />

“But we also recognise the impact of distressing<br />

conversations on agency staff, and we always urge our<br />

member firms to treat colleagues with understanding<br />

and support so they can deal with what can be harrowing<br />

exchanges.”<br />

Chris believes that in many respects, CSA members<br />

are ahead of the game when it comes dealing with the<br />

most vulnerable in society: “We would welcome further<br />

cooperation between regulators, creditors and other trade<br />

bodies to deliver even greater consistency of standards for<br />

firms supporting customers in acute distress so that the<br />

entire financial services sector can offer best practice on<br />

this sensitive issue.”<br />

❝<br />

“Some DCAs’ knowledge around customer<br />

vulnerability is dated and they need to<br />

get acquainted with the new guidance<br />

from the FCA and support tools which are<br />

available from the firms such as the Money<br />

Advice Trust. If DCAs are aligned, this will<br />

also support and embrace changing the<br />

perception of debt collection in the financial<br />

services industry.”<br />

❝<br />

Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 31

International Trade<br />

Monthly round-up of the latest stories<br />

in global trade by Andrea Kirkby.<br />

Global debt crisis?<br />

BUT just as Europe is in trouble,<br />

so Governments around the<br />

world are drowning in debt.<br />

MoneyWeek reported that<br />

‘rising interest rates and soaring<br />

inflation will leave many Governments<br />

with unsustainable debts… get set for a<br />

wave of sovereign defaults.’<br />

Barbados, Lebanon and Sri Lanka<br />

have all gone bankrupt; regardless of the<br />

reasons, each couldn’t pay their debts.<br />

Russia is a new defaulter, but that is<br />

technical rather than actual following the<br />

imposition of sanctions.<br />

Part of the problem is the access<br />

and availability of credit that has<br />

grown since World War II has led to<br />

remarkable economic growth and<br />

wealth. Governments borrowed to build<br />

infrastructure, companies invested and<br />

expanded, and the average person has<br />

attained a great lifestyle. In more recent<br />

times, debt has risen because interest<br />

rates are low and money has been cheap.<br />

But with rising demand led inflation,<br />

central banks have been putting up<br />

interest rates and the cost of borrowing<br />

has shot up. Heavily indebted developed<br />

economies are struggling, especially as<br />

we all now expect healthcare, pensions,<br />

education and infrastructure.<br />

Such countries need to either slash<br />

borrowing – leading to recession – or<br />

default; many economies are in for<br />

a battering. And it doesn’t help that<br />

many small countries rely on foreign<br />

investment which can dry up if there’s<br />

an adverse election result, a geopolitical<br />

event or a spike in import prices.<br />

Commodity-producing countries might<br />

be fine, but only if their products are in<br />

high demand and prices are rising.<br />

The net effect of this is that exporters<br />

need to have an eye on their localised<br />

markets and any potential threats to<br />

demand.<br />


THE Bank of Japan (BoJ) is under<br />

pressure and firms are raising prices<br />

due to mounting cost pressures<br />

stemming from a weakening yen. The<br />

yen is now at a 20-year low against the<br />

dollar, and the unwillingness of the<br />

bank to raise rates in order to restrain<br />

inflation and support the currency<br />

‘makes it an outlier among developed<br />

economies’ – says the Financial Times.<br />

It appears that The BoJ is most<br />

comfortable with the yen around 100 to<br />

120 to the dollar, ‘as it flatters overseas<br />

earnings, boosts domestic inflation (of<br />

which Japan has had little – inflation<br />

is still at only 2.1 percent) and supports<br />

exports.’ But the yen has weakened to<br />

138 to the dollar. Some think that the<br />

BoJ will have to change tack soon and<br />

do something to staunch the drop in<br />

the value of the yen.<br />

CONVERSATION.com notes while<br />

China accounts for more than a sixth<br />

of the world’s population – its numbers<br />

‘swelled’ from 660m to 1.4bn over the<br />

past four decades – the population is<br />

likely to head downwards this year for<br />

the first time since the country’s great<br />

famine of 1959-1961.<br />

According to official figures, the<br />

Chinese population grew by just 480,000<br />

China’s population to decline<br />

in 2021, a record low and a fraction of<br />

the annual growth of 8m or so common<br />

a decade ago.<br />

This might be down to the population<br />

being used to having small families<br />

after years of the one-child policy, a<br />

population being squeezed by the cost<br />

of living, or women having children at<br />

a later age. Regardless, the drop will<br />

affect the economy.<br />

Apparently, there are currently 100<br />

working-age people to support every<br />

20 elderly people. But by 2100, they<br />

may have to support as many as 120. It<br />

doesn’t take rocket science to recognise<br />

that any decline in the working-age<br />

population will affect economic growth.<br />

China maybe big but its<br />

demographics are about to change and<br />

that may affect product demand.<br />

Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 32

RECORD shipping costs are hindering<br />

British firms wanting to export outside the<br />

European Union.<br />

The Centre for Economics and Business<br />

Research (CEBR) recently said that longhaul<br />

shipping costs had almost tripled<br />

compared with pre-pandemic levels<br />

because of higher fuel and container<br />

costs, surging demand for goods and port<br />

disruption caused by the war in Ukraine.<br />

The problem isn’t unique to the UK.<br />

In the US, the Biden administration has<br />

accused companies that control the Pacific<br />


IF you trade with Europe – you rely on products or componentry – you need to stress test<br />

the supply chain. The impact of the sanctions placed upon Russia is affecting businesses<br />

across the continent, especially France and Germany where gas and electricity may be<br />

rationed. France is, according to Euronews, working on plans to reduce gas and electricity<br />

supplies to some firms over the winter. And Germany is doing the same and may well soon<br />

take over distribution of utilities if matters get worse. All are planning for Russia cutting<br />

off gas from the Nordstream 1 pipeline. It happened for 10 days mid-July for ‘maintenance’<br />

but was turned back on, albeit at a lower level, to load more pressure on the west – a point<br />

driven home by a statement, mid-July, from Russian gas giant Gazprom which declared a<br />

force majeure saying that it cannot supply gas because of ‘extraordinary’ circumstances.<br />


MANY will recall that Europe bailed out<br />

eight countries including Spain, Greece,<br />

Ireland and Portugal following the 2008<br />

financial crisis. The worry is that some<br />

in Europe will need more help – and<br />

soon.<br />

Take Italy. It has €2.759trn of debt that<br />

equates to almost 150 percent of GDP. It’s<br />

the eurozone’s third-largest economy<br />

and a failure there could seriously<br />

harm the euro. Prime minister, Mario<br />

Draghi, known as ‘Super Mario’ and his<br />

Government have run out of steam. He’s<br />

resigned.<br />

On a more positive note, the Financial<br />

Times thinks that things aren’t that<br />

bad: Italy is to receive €200bn in grants<br />

and cheap loans from the EU’s postpandemic<br />

recovery fund. However, the<br />

money is tied to structural reforms that<br />

might drag Italy out of its long economic<br />

stagnation.<br />

The Daily Telegraph has written that<br />

‘Europe’s monetary union is a bit like a<br />

bumblebee; aerodynamically it shouldn’t<br />

fly, yet somehow it does. For how much<br />

longer must again be in doubt.’<br />

Rising UK cargo costs<br />

shipping sector of raising prices by 1,000<br />

percent and effectively stoking inflation.<br />

The CEBR found that short-haul<br />

shipping costs for British businesses to<br />

countries such as Germany had gone up<br />

from about 3.5 percent of the value of the<br />

exports to 7.3 percent. But for longer-haul<br />

sea routes outside Europe, the rise was<br />

greater – from 7.5 percent to as much as<br />

20.4 percent.<br />

Some might suggest that this rise is a<br />

consequence of Brexit. The reality is that<br />

this is a global problem.<br />


THE worst nightmare of any foreign<br />

investor is state-backed appropriation. To<br />

be fair, it ought to be worst nightmare of<br />

any right-thinking investor since it makes<br />

the idea of putting cash into an enterprise<br />

a very risky occupation.<br />

But as had been presaged, Russian<br />

president Vladimir Putin recently decreed<br />

that all rights to the Sakhalin-2 natural gas<br />

project are to be transferred to a Russian<br />

entity. This, says the Financial Times,<br />

‘could force foreign investors, including<br />

Shell, Mitsubishi and Mitsui to walk away.’<br />

Shell has a 27.5 percent stake in the<br />

project, while the two Japanese companies<br />

own 10 percent and 12.5 percent<br />

respectively. The rest is owned by Russia’s<br />

state-owned Gazprom.<br />

While Putin has blamed Western<br />

sanctions in response to the war in<br />

Ukraine for creating ‘an environmental<br />

and technological emergency’ – against<br />

which Russia was forced – ‘to defend<br />

its national interests’. The reality is<br />

that if relations with the world are<br />

ever normalised, then those with long<br />

memories will be very reluctant investors.<br />



CLEARLY worried about growth prospects<br />

for the European Union along with its<br />

global influence, 15 European Union<br />

governments called for the bloc to<br />

accelerate the conclusion of various free<br />

trade agreements.<br />

Crises relating to Ukraine and Covid<br />

demonstrated the need for greater supply<br />

chain resilience and more open trade<br />

despite, what many have seen, increasing<br />

levels of protectionism. The EU notes that<br />

one in seven jobs in the bloc depends on<br />

trade. Ministers think that the Regional<br />

Comprehensive Economic Partnership<br />

(RCEP), the world's largest trade agreement<br />

including China, Japan and Australia that<br />

entered into force at the start of <strong>2022</strong>,<br />

“should be a wake-up call for Europe."<br />

The problem is that while deals are in<br />

the pipeline – with Mercosur (Argentina,<br />

Brazil, Paraguay and Uruguay), Mexico,<br />

Australia, New Zealand and Indonesia<br />

and now India, some European members<br />

are holding up agreements. France is<br />

apparently sensitive to increased beef<br />

imports such deals could bring.<br />

Britain clearly needs to step up its game<br />

or it could be overtaken.<br />


INDIAN food-delivery firm Zomato has<br />

acquired fast-delivery start-up Blinkit in a<br />

cash-and-stock deal worth 44.5bn rupees<br />

(£461m) – according to Breakingviews. The<br />

company delivers groceries to ‘well-heeled’<br />

Indians in less than 15 minutes, using a<br />

network of 400 dark stores.<br />

That’s one part of the story. The other<br />

and possibly more interesting part relates<br />

to Zomato’s Deepinder Goyal who thinks<br />

that ‘quick commerce’ is the hook with<br />

which to sell higher-margin goods from<br />

make-up to electronics.<br />

While some – The Wall Street Journal<br />

– think it’s a great idea but poorly timed,<br />

others such as China’s Ant Group see<br />

Zomato as taking a long-term view.<br />

Nevertheless, thinking out of the box<br />

and using one service to sell higher margin<br />

products to the well-heeled might be a<br />

route to success.<br />



OR CALL 020 7738 0777<br />

Currency UK is authorised and regulated<br />

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


GBP/EUR 1.19882 1.16725 Up<br />

GBP/USD 1.22833 1.18591 Up<br />

GBP/CHF 1.17101 1.13912 Down<br />

GBP/AUD 1.76475 1.70169 Down<br />

GBP/CAD 1.57592 1.53648 Up<br />

GBP/JPY 166.103 159.594 Down<br />

This data was taken on 17th August and refers to the<br />

month previous to/leading up to 16th August <strong>2022</strong>.<br />

Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 33



Tackling fraud through better<br />

information and a register of borrowers.<br />

A<br />

year ago, UK Finance declared<br />

that ‘The level of fraud in the UK<br />

is such that it is now a national<br />

security threat’. This high and<br />

rising volume of criminality<br />

was boosted by the pandemic<br />

to £753.9 million in the first half of 2021 alone.<br />

This number was reportedly 30 percent bigger<br />

than the preceding year’s total – an unpleasantly<br />

steep, upward trend.<br />

Unfortunately, it’s likely that it’s continuing<br />

to grow. Would anyone be surprised to see a<br />

significantly higher number when UK Finance<br />

publishes its <strong>2022</strong> half year report?<br />

For years, measure after measure has been<br />

implemented to try and prevent the fraud<br />

growth. Today, for example, in the asset finance<br />

industry there are at least six credit reference<br />

agencies being used by the industry to try to<br />

spot suspicious activity. But when it comes<br />

to identifying a company’s total borrowing<br />

commitments, the reality is no single agency<br />

possesses enough market share to provide a<br />

broad enough view across the asset finance<br />

lending market.<br />

AUTHOR – Nick Leader<br />

Until now, the<br />

financial services<br />

industry has turned<br />

over practically every<br />

stone when it comes<br />

to solving this issue<br />

via co-operation.<br />

But, recently, a<br />

group of asset<br />

finance providers<br />

has landed on a<br />

solution. A simple<br />

and straightforward<br />

register of borrowers.<br />

And so, fraud still plagues both the finance<br />

industry, and the wider UK economy. We<br />

need look no further than 2021’s Arena TV<br />

scandal – potentially the biggest ever in assetbacked<br />

lending – which is under investigation<br />

for defrauding lenders out of c£282 million –<br />

although the true scale is yet unknown.<br />

More needs to be done to tackle the issue<br />

and offer in not only asset finance lenders, but<br />

also lenders more generally, better insight and<br />

visibility to counter it.<br />


Until now, the financial services industry has<br />

turned over practically every stone when it<br />

comes to solving this issue via co-operation.<br />

But, recently, a group of asset finance providers<br />

has landed on a solution. A simple and<br />

straightforward register of borrowers. Such a<br />

register enables lenders to identify likely largescale<br />

frauds where the amount being borrowed<br />

across multiple lenders exceeds the balance<br />

sheet assets of the borrower.<br />

By focusing on the corporate entity – and<br />

not the assets – lenders obtain a simple and<br />

Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 34

FRAUD<br />

AUTHOR – Nick Leader<br />

❝<br />

There is nothing new about providers in a<br />

given sector coming together to share data<br />

for the common good. Pharmaceutical<br />

companies have had their share of publicity<br />

during the pandemic – but what is perhaps<br />

less visible is the way they collaborate on the<br />

Disclosure UK database.<br />

❝<br />

resonant view of a company’s current<br />

asset finance arrangements. Such a view<br />

should show up potentially suspicious<br />

or irregular balance-sheet borrowing or<br />

activity. In reaching this point there are<br />

three learnings – learnings that may be<br />

useful for other sectors as they combat<br />

the specific types of fraud they face.<br />

The first is collaboration. The success<br />

of the asset finance register of borrowers<br />

is contingent on broad industry support.<br />

To make it happen, providers must simply<br />

supply five non-strategic data points<br />

per agreement for aggregation. The<br />

more comprehensive the data, the more<br />

effective the anti-fraud solution will be.<br />

There is nothing new about providers<br />

in a given sector coming together<br />

to share data for the common good.<br />

Pharmaceutical companies have had their<br />

share of publicity during the pandemic –<br />

but what is perhaps less visible is the way<br />

they collaborate on the Disclosure UK<br />

database. This is a register of payments<br />

and benefits in kind from the industry to<br />

healthcare professionals, to foster better<br />

transparency and trust.<br />

Look hard enough at most large<br />

and successful sectors and they have<br />

equivalent collaborative efforts to solve<br />

collective problems. Fraud affects just<br />

about every economic sector – and solving<br />

it requires consensus.<br />


The second learning is simplicity. It is<br />

probably fair to say that one of the reasons<br />

the asset finance industry took so long<br />

to grapple with fraud is that proposed<br />

solutions may have been too complex –<br />

despite best intentions.<br />

For example, a register of the assets<br />

borrowed against is complex. For a start<br />

there is huge diversity in the asset finance<br />

industry – some companies need mobile<br />

phones, others huge industrial plants.<br />

And just about every compass point in<br />

between is covered.<br />

Within a few seconds you can look up<br />

a corporate entity and get a full view of<br />

everything they’ve borrowed. And that<br />

view is extremely valuable in helping to<br />

identify suspicious borrowing behaviours.<br />


The third is decisiveness. In our industry,<br />

asset finance, there is a strong and widely<br />

held desire to tackle fraud. Do other<br />

sectors need to be stung before they act?<br />

Perhaps some will, but others won’t. But<br />

what worked for us is a mind-set that<br />

enough is enough. The professionals on<br />

our industry working group who drove us<br />

towards creating a borrower register were<br />

wholeheartedly decisive.<br />

Whilst we are well on our way to<br />

market consensus, companies need to<br />

be committed to making this a reality,<br />

not just in the immediate aftershock of a<br />

fraud scandal, but for the long term and<br />

for good – and help make fraud a lot less<br />

of a problem to us and our customers.<br />

Nick Leader is the CEO of Acquis<br />

Insurance.<br />

Brave | Curious | Resilient / www.cicm.com /<strong>September</strong> <strong>2022</strong> / PAGE 35



The Support List aims to give customers with<br />

disabilities greater access to financial services.<br />

AUTHOR – Paul Lamont<br />

THE development of digital<br />

financial services has<br />

transformed the depth and<br />

breadth of access to such<br />

services for consumers. And<br />

yet, there are still significant<br />

barriers to overcome, as accessibility of<br />

such services for disabled consumers and<br />

those with additional support needs is still<br />

affected by important nuances that many<br />

firms are unaware of.<br />

One of the key driving forces reasons for<br />

this is that firms simply do not have access<br />

to the detailed support needs of disabled<br />

customers. There are many obstacles<br />

stopping customers from actively sharing<br />

their support needs with service providers.<br />

Research conducted amongst consumers<br />

with a disability and additional support<br />

needs, reveals the scale of the challenge.<br />

A staggering 85 percent hadn’t requested<br />

additional support from their bank or<br />

building society. This means that they<br />

could be missing out on essential support<br />

during a particularly challenging time.<br />

Unfortunately, this trend is being repeated<br />

in other areas too – including credit cards<br />

(90 percent) and pensions (91 percent).<br />

The benefits of informing a provider<br />

cannot be understated. For those that have<br />

shared their support needs, 70 percent<br />

were found to be satisfied with the extra<br />

help they received – demonstrating that<br />

when support is put in place it really does<br />

help.<br />


The challenge for the financial services<br />

industry – and across sectors – is how to<br />

build greater awareness of these services<br />

and to really understand what will make a<br />

difference to customers. Another challenge<br />

is to create a standardised approach across<br />

sectors to ensure customers who require<br />

additional support are treated the same,<br />

whatever business they are dealing with.<br />

Trust must also be built, so that those<br />

sharing their support needs can be assured<br />

that the information will be managed<br />

appropriately and sensitively.<br />

One solution is to take a community<br />

driven and open-sourced approach with<br />

the ambition of improving accessibility for<br />

people dealing with businesses and other<br />

organisations. The Support List aims to<br />

level the playing field.<br />

The Support List is a set of reasonable<br />

adjustments that organisations can make<br />

that will make the lives of disabled people<br />

easier. It draws upon the insights of more<br />

than 1,400 disabled people to provide a<br />

publicly available starting point to promote<br />

dialogue between disabled people and<br />

those with additional support needs and<br />

businesses looking to support them. It is<br />

refined over time based on feedback from<br />

the very consumers that need the support,<br />

and the firms that will fulfil them.<br />

This project is sponsored by Experian<br />

and those behind it, including disability<br />

and accessibility experts, are encouraging<br />

the community to share their experiences<br />

which will enable the Support List to be<br />

more widely used, expand its guidance,<br />

and pave the way for a wider range of<br />

support needs over time.<br />


The Support List is publicly available and<br />

focuses initially on the areas of sight,<br />

hearing, mental health and dementia,<br />

and outlining consumer preferences of<br />

communication.<br />

By doing this, it helps organisations<br />

better understand how they can support<br />

their customers in the ways they interact<br />

with them, such as writing, telephone<br />

communications or meeting with them in<br />

person.<br />

The list will expand over time to cover<br />

more disabilities, vulnerabilities, and<br />

circumstances, informed by the lived<br />

experiences of contributors.<br />

The long-term ambition is that the<br />

Support List will be used to develop<br />

standardised approaches and responses to<br />

support those with disabilities, which can<br />

then be used across multiple industries<br />

and sectors, to benefit anyone in the UK<br />

who may need support.<br />

Projects like these are vitally important<br />

for expanding accessibility to financial<br />

services, and other businesses. Inclusive<br />

initiatives bring more consumers into the<br />

financial system and enable access to safe,<br />

affordable financial services and products.<br />

Additionally, this project represents a first<br />

step on that journey and helping people<br />

get the support they need.<br />

Paul Lamont is the Innovation<br />

Lead at Experian Data Exchange.<br />

Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 36


AUTHOR – Paul Lamont<br />

❝<br />

The long-term ambition is that the Support List will be used to develop<br />

standardised approaches and responses to support those with disabilities,<br />

which can then be used across multiple industries and sectors, to benefit<br />

anyone in the UK who may need support.<br />

Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 37

Introducing our<br />


For further information and to discuss the opportunities of entering into a<br />

Corporate Partnership with the CI<strong>CM</strong>, please contact corporatepartners@cicm.com<br />

VISMA | Onguard is a specialist in credit management<br />

software and market leader in innovative solutions for<br />

order-to-cash. Our integrated platform ensures an optimal<br />

connection of all processes in the order-to-cash<br />

chain. This enhanced visibility with the secure sharing<br />

of critical data ensures optimal connection between<br />

all processes in the order-to-cash chain, resulting<br />

in stronger, longer-lasting customer relationships<br />

through improved and personalised communication.<br />

The VISMA | Onguard platform is used for successful<br />

credit management in more than 70 countries.<br />

T: 020 3868 0947<br />

E: edan.milner@onguard.com<br />

W: www.onguard.com<br />

YayPay makes it easy for B2B finance teams to stay<br />

ahead of accounts receivable and get paid faster –<br />

from anywhere.<br />

Integrating with your ERP, CRM, and billing<br />

systems, YayPay presents your real-time data<br />

through cloud-based dashboards. Automation<br />

improves productivity by 3X and accelerates<br />

collections by up to 34 percent. Predictive analytics<br />

provide insight into payor behavior and an online<br />

portal enables customers to access their accounts<br />

and pay at any time.<br />

T: +44 (0)7465 423 538<br />

E: marketing@yaypay.com<br />

W: www.yaypay.com<br />

HighRadius provides a cloud-based Integrated<br />

Receivable Platform, powered by machine learning<br />

and AI. Our Technology empowers enterprise<br />

organisations to reduce cycle time in the order-tocash<br />

process and increase working capital availability<br />

by automating receivables and payments processes<br />

across credit, electronic billing and payment<br />

processing, cash application, deductions, and<br />

collections.<br />

T: +44 (0) 203 997 9400<br />

E: infoemea@highradius.com<br />

W: www.highradius.com<br />

Bottomline Technologies (NASDAQ: EPAY) helps<br />

businesses pay and get paid. Businesses and banks<br />

rely on Bottomline for domestic and international<br />

payments, effective cash management tools, automated<br />

workflows for payment processing and bill review<br />

and state of the art fraud detection, behavioural<br />

analytics and regulatory compliance. Every day, we<br />

help our customers by making complex business<br />

payments simple, secure and seamless.<br />

T: 0870 081 8250<br />

E: emea-info@bottomline.com<br />

W: www.bottomline.com/uk<br />

Our <strong>Credit</strong>or Services team can advise on the best<br />

way for you to protect your position when one of<br />

your debtors enters, or is approaching, insolvency<br />

proceedings. Our services include assisting with<br />

retention of title claims, providing representation at<br />

creditor meetings, forensic investigations, raising<br />

finance, financial restructuring and removing the<br />

administrative burden – this includes completing<br />

and lodging claim forms, monitoring dividend<br />

prospects and analysing all Insolvency Reports and<br />

correspondence.<br />

T: +44 (0)2073 875 868 - London<br />

T: +44 (0)2920 495 444 - Cardiff<br />

W: menzies.co.uk/creditor-services<br />

FIS GETPAID solution is a fully integrated, webbased<br />

order-to cash (O2C) solution that helps<br />

companies improve operational efficiencies, lower<br />

DSO, and increase cash flow. The solution suite<br />

includes strategic risk-based collections, artificial<br />

intelligence, process automation, credit risk<br />

management, deduction and dispute resolution and<br />

cash application. FIS is a global leader in financial<br />

services technology, providing software, services<br />

and outsourcing of the technology that empowers<br />

the financial world.<br />

T: +447730500085<br />

E: getinfo@fisglobal.com.<br />

W: www.fisglobal.com<br />

With 130+ years of experience, Graydon is a leading<br />

provider of business information, analytics, insights<br />

and solutions. Graydon helps its customers to make<br />

fast, accurate decisions, enabling them to minimise<br />

risk and identify fraud as well as optimise opportunities<br />

with their commercial relationships. Graydon<br />

uses 130+ international databases and the information<br />

of 90+ million companies. Graydon has offices in<br />

London, Cardiff, Amsterdam and Antwerp. Since 2016,<br />

Graydon has been part of Atradius, one of the world’s<br />

largest credit insurance companies.<br />

T: +44 (0)208 515 1400<br />

E: customerservices@graydon.co.uk<br />

W: www.graydon.co.uk<br />

Tinubu Square is a trusted source of trade credit<br />

intelligence for credit insurers and for corporate<br />

customers. The company’s B2B <strong>Credit</strong> Risk<br />

Intelligence solutions include the Tinubu Risk<br />

<strong>Management</strong> Center, a cloud-based SaaS platform;<br />

the Tinubu <strong>Credit</strong> Intelligence service and the<br />

Tinubu Risk Analyst advisory service. Over 250<br />

companies rely on Tinubu Square to protect their<br />

greatest assets: customer receivables.<br />

T: +44 (0)207 469 2577 /<br />

E: uksales@tinubu.com<br />

W: www.tinubu.com.<br />

Building on our mature and hugely successful<br />

product and world class support service, we are<br />

re-imagining our risk awareness module in 2019 to<br />

allow for hugely flexible automated worklists and<br />

advanced visibility of areas of risk. Alongside full<br />

integration with all credit scoring agencies (e.g.<br />

<strong>Credit</strong>safe), this makes Credica a single port-of-call<br />

for analysis and automation. Impressive results<br />

and ROI are inevitable for our customers that also<br />

have an active input into our product development<br />

and evolution.<br />

T: 01235 856400<br />

E: info@credica.co.uk<br />

W: www.credica.co.uk<br />

Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 38

Each of our Corporate Partners is carefully selected for<br />

their commitment to the profession, best practice in the<br />

<strong>Credit</strong> Industry and the quality of services they provide.<br />

We are delighted to showcase them here.<br />

They're waiting to talk to you...<br />

Hays <strong>Credit</strong> <strong>Management</strong> is a national specialist<br />

division dedicated exclusively to the recruitment of<br />

credit management and receivables professionals,<br />

at all levels, in the public and private sectors. As<br />

the CI<strong>CM</strong>’s only Premium Corporate Partner, we<br />

are best placed to help all clients’ and candidates’<br />

recruitment needs as well providing guidance on<br />

CV writing, career advice, salary bench-marking,<br />

marketing of vacancies, advertising and campaign<br />

led recruitment, competency-based interviewing,<br />

career and recruitment trends.<br />

T: 07834 260029<br />

E: karen.young@hays.com<br />

W: www.hays.co.uk/creditcontrol<br />

Court Enforcement Services is the market<br />

leading and fastest growing High Court Enforcement<br />

company. Since forming in 2014, we have managed<br />

over 100,000 High Court Writs and recovered more<br />

than £187 million for our clients, all debt fairly<br />

collected. We help lawyers and creditors across all<br />

sectors to recover unpaid CCJ’s sooner rather than<br />

later. We achieve 39 percent early engagement<br />

resulting in market-leading recovery rates. Our<br />

multi-award-winning technology provides real-time<br />

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T: +44 (0)1992 367 092<br />

E: a.whitehurst@courtenforcementservices.co.uk<br />

W: www.courtenforcementservices.co.uk<br />

Shoosmiths’ highly experienced team will work<br />

closely with credit teams to recover commercial<br />

debts as quickly and cost effectively as possible.<br />

We have an in depth knowledge of all areas of debt<br />

recovery, including:<br />

• Pre-litigation services to effect early recovery and<br />

keep costs down • Litigation service • Insolvency<br />

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As a client of Shoosmiths, you will find us quick to<br />

relate to your goals, and adept at advising you on the<br />

most effective way of achieving them.<br />

T: 03700 86 3000<br />

E: paula.swain@shoosmiths.co.uk<br />

W: www.shoosmiths.co.uk<br />

Forums International has been running <strong>Credit</strong> and<br />

Industry Forums since 1991 covering a range of<br />

industry sectors and international trading. Attendance<br />

is for credit professionals of all levels. Our forums<br />

are not just meetings but communities which<br />

aim to prepare our members for the challenges<br />

ahead. Attending for the first time is free for you to<br />

gauge the benefits and meet the members and we<br />

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intentionally be sold to.<br />

T: +44 (0)1246 555055<br />

E: info@forumsinternational.co.uk<br />

W: www.forumsinternational.co.uk<br />

Data Interconnect provides corporate <strong>Credit</strong> Control<br />

teams with Accounts Receivable software for bulk<br />

e-invoicing, collections, dispute management and<br />

invoice finance. The modular, cloud-based Corrivo<br />

platform can be configured for any business model.<br />

It integrates with all ERP systems and buyer AP<br />

platforms or tax regimes. Customers can self-serve<br />

on mobile friendly portals, however their invoices are<br />

delivered, and <strong>Credit</strong> Controllers can easily extract<br />

data for compliance, audit and reporting purposes.<br />

T: +44 (0)1367 245777<br />

E: sales@datainterconnect.co.uk<br />

W: www.datainterconnect.com<br />

Serrala optimizes the Universe of Payments for<br />

organisations seeking efficient cash visibility<br />

and secure financial processes. As an SAP<br />

Partner, Serrala supports over 3,500 companies<br />

worldwide. With more than 30 years of experience<br />

and thousands of successful customer projects,<br />

including solutions for the entire order-to-cash<br />

process, Serrala provides credit managers and<br />

receivables professionals with the solutions they<br />

need to successfully protect their business against<br />

credit risk exposure and bad debt loss.<br />

T: +44 118 207 0450<br />

E: contact@serrala.com<br />

W: www.serrala.com<br />

American Express® is a globally recognised<br />

provider of business payment solutions, providing<br />

flexible capabilities to help companies drive<br />

growth. These solutions support buyers and<br />

suppliers across the supply chain with working<br />

capital and cashflow.<br />

By creating an additional lever to help support<br />

supplier/client relationships American Express is<br />

proud to be an innovator in the business payments<br />

space.<br />

T: +44 (0)1273 696933<br />

W: www.americanexpress.com<br />

The Company Watch platform provides risk analysis<br />

and data modelling tools to organisations around<br />

the world that rely on our ability to accurately predict<br />

their exposure to financial risk. Our H-Score®<br />

predicted 92 percent of quoted company insolvencies<br />

and our TextScore® accuracy rate was 93<br />

percent. Our scores are trusted by credit professionals<br />

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reference agencies, we are transparent and flexible<br />

in our approach.<br />

T: +44 (0)20 7043 3300<br />

E: info@companywatch.net<br />

W: www.companywatch.net<br />

Esker’s Accounts Receivable (AR) solution removes<br />

the all-too-common obstacles preventing today’s<br />

businesses from collecting receivables in a<br />

timely manner. From credit management to cash<br />

allocation, Esker automates each step of the orderto-cash<br />

cycle. Esker’s automated AR system helps<br />

companies modernise without replacing their<br />

core billing and collections processes. By simply<br />

automating what should be automated, customers<br />

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T: +44 (0)1332 548176<br />

E: sam.townsend@esker.co.uk<br />

W: www.esker.co.uk<br />

Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 39

Introducing our<br />


Each of our Corporate Partners is carefully selected for their commitment<br />

to the profession, best practice in the <strong>Credit</strong> Industry and the quality of<br />

services they provide. We are delighted to showcase them here.<br />

Chris Sanders Consulting – we are a different sort of<br />

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experienced operational credit and collections<br />

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specialisms in cross industry best practice advisory,<br />

assessment, interim management, leadership,<br />

workshops and training to help your team and<br />

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T: +44(0)7747 761641<br />

E: enquiries@chrissandersconsulting.com<br />

W: www.chrissandersconsulting.com<br />

Key IVR provide a suite of products to assist companies<br />

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In a credit management environment, these services<br />

are used to cost-effectively contact debtors and<br />

connect them back into a contact centre or<br />

automated payment line.<br />

T: +44 (0) 1302 513 000<br />

E: sales@keyivr.com<br />

W: www.keyivr.com<br />

For further information<br />

and to discuss the<br />

opportunities of entering<br />

into a Corporate<br />

Partnership with the<br />

CI<strong>CM</strong>, please contact:<br />

corporatepartners@cicm.com<br />

Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 40


Do you know someone who would benefit from CI<strong>CM</strong> membership? Or have<br />

you considered applying to upgrade your membership? See our website<br />

www.cicm.com/membership-types for more details, or call us on 01780 722903<br />


Julian Mellors<br />

Andrew Widdop<br />

Cora-Jade Gerrard<br />

Daryl Tupper<br />

Finley Cole<br />

James Constantine<br />

Jusvant Shemare<br />

Mara Helena Fernandes Caires<br />

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Sarah Aird<br />

Kai Cody<br />

Natalie Snee<br />

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John Kinloch<br />

Jamie Tattersall<br />

Claire Mann<br />

Samantha Morrison<br />

Raymond Abou-Mansour<br />

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Jack Whieldon<br />

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Bernadette Columbine<br />

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Grant English<br />

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Anish Mistry<br />

Charlie Bowers<br />

Jack Easdon<br />

Alex Winter<br />

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Olivia Varrier<br />

Jim Adams<br />

Sema Fongod<br />

Rachel Blacker<br />

Helen Stephanie<br />

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

Keith Cowart<br />

Richard Singleton<br />


Congratulations to the following, who successfully achieved Diplomas<br />

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Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 41



How to steer your organisation through<br />

the next five years of challenge.<br />

AUTHOR – Andy Lilley<br />

MANY people in our<br />

industry have never<br />

worked through a<br />

recession. Those of us<br />

who have are painfully<br />

aware of just how<br />

different it is to business-as-usual. While<br />

we may not be in the midst of a recession<br />

currently, challenges like ongoing supply<br />

chain disruption, labour shortages and<br />

unpredictable market swings mean<br />

many companies are now bracing for an<br />

economic downturn.<br />

Steering a business through these<br />

circumstances will mean running a much<br />

tighter ship. Organisations will face more<br />

difficulty borrowing money, keeping<br />

customers and planning for the long<br />

term. According to PwC, this means that<br />

liquidity and the optimisation of working<br />

capital are now critical and will play an<br />

important role in helping businesses to<br />

adapt and survive.<br />

With two years of unrest behind us<br />

and the possibility of more to come,<br />

I believe there are five key areas that<br />

businesses need to focus on, in order to<br />

make their short- and long-term cashflow<br />

management more effective and reliable.<br />

Investment and optimisation in these<br />

areas will make the difference between<br />

businesses that weather the storm and<br />

those that drift out to sea.<br />


To steer your organisation through stormy<br />

waters, you need to be able to see what’s<br />

on the horizon.<br />

Predictability is hard but essential<br />

during tough times, when external<br />

events are hard to control and potentially<br />

damaging for your business. This is where<br />

having access to accounts receivable (AR)<br />

data is invaluable, as it provides access<br />

to information that will allow leaders to<br />

make more informed decisions quickly.<br />

When faced with a period of great<br />

uncertainty, it’s important to remember<br />

that your customers are going through<br />

the same experience. Every day, they are<br />

asking themselves questions like, ‘Who do<br />

I pay?’, ‘Do I pay them a week late, just to<br />

give myself some extra cashflow?’.<br />

This adds a layer of complexity for<br />

businesses, by making their own cashflow<br />

harder to predict. For example, a business<br />

might anticipate that they will collect 86<br />

percent of cash in any given month, based<br />

on previous experience. But if factors<br />

outside of their control are suddenly<br />

forcing customers to make difficult, and<br />

unpredictable decisions about who to pay<br />

and when, then this assumption becomes<br />

less accurate and less valuable.<br />

Proper visibility over AR data, however,<br />

can help to counteract this variation. It<br />

helps to provide a more realistic view of<br />

the working capital the organisation will<br />

have at its disposal at a given time.<br />


While visibility over the right data is a<br />

good first step, how often you are able<br />

to access this defines how well you can<br />

use it. Data drives decisions. But realtime<br />

data drives effective decisions. Data<br />

that is not applicable in real time could<br />

damage your business more than it could<br />

help it. That’s why real-time processing is<br />

a powerful tool in your recession-resistant<br />

accounts receivable arsenal. If you receive<br />

a bank statement once a day, but it takes a<br />

day or two to apply that cash, then you're<br />

not moving quickly enough.<br />

If you miss a payment by even a couple<br />

of hours, you could potentially chase a<br />

reliable customer for something they<br />

have already paid. Perhaps their line of<br />

credit could be held up when they want to<br />

spend more money with you, because you<br />

haven’t applied their cash.<br />

Photo credit:<br />

Nigel Millard<br />

Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 42


AUTHOR – Andy Lilley<br />

When the business and economic<br />

environment is constantly changing,<br />

you can't just make your decisions on a<br />

Friday. Decision making must be dynamic<br />

and must take place at sequential points<br />

every day. Automating AR processes can<br />

help to provide the real-time intelligence,<br />

reporting and analytics that are key to<br />

enabling this fluid decision making.<br />

❝<br />

Steering a business through<br />

these circumstances will mean<br />

running a much tighter ship<br />

❝<br />


In the world of AR, we talk a great deal<br />

about risk to profit. During a downturn<br />

or period of uncertainty, it’s essential to<br />

understand your customers and really<br />

work with them to increase their lines of<br />

credit, to allow them to spend more with<br />

you and not your competitor.<br />

Where you have a high profit, low risk<br />

customer, you might want to take some<br />

of that risk on yourself. But what about<br />

occasional customers that only buy from<br />

you once every 12 months? You either<br />

shouldn’t extend that acceptance of risk<br />

to them, or you should work with them to<br />

make them your primary customer, rather<br />

than being a secondary supplier to them.<br />

While it may feel counterintuitive<br />

during difficult periods, focus on the<br />

customer, rather than having a generic<br />

approach to how you set your credit limits<br />

and measure risk. Make sure the customer<br />

experience they receive on the back end<br />

(when you’re collecting cash from them)<br />

is as good as their experience on the front<br />

end (when you’re selling to them).<br />


Despite fears of a recession on the horizon,<br />

people have more choice at present<br />

than ever before. It is very difficult to<br />

recruit right now, with supply falling far<br />

below demand for roles across nearly all<br />

sectors. Creating value for people is a key<br />

differentiator during these times. If your<br />

business has grown 50 percent at the front<br />

end, but you can’t recruit or retain people<br />

at the back end because of outdated,<br />

manual processes, then your business<br />

won’t be able to remain competitive.<br />

People want to add value to their roles<br />

and the business they serve. Being mired<br />

in mundane tasks is a sure-fire way to<br />

send great talent packing, which is why<br />

organisations must look at automating<br />

rote, repetitive tasks before it’s too late.<br />

Conversely, this could also reduce<br />

dependency (and pressure) on some of<br />

the key people you’re trying to retain.<br />

Automation can reduce knowledge gaps.<br />

Having it in place means you won’t be<br />

dependent on a specific team member,<br />

who may be the only person who knows<br />

how to complete a labour-intensive<br />

manual process.<br />


Rather than digitising individual parts<br />

of accounts receivable, as has been the<br />

case in recent years, over the next five<br />

years, organisations should be choosing<br />

an advanced digital process. This requires<br />

end-to-end digitisation, because each<br />

part of accounts receivable whether it is<br />

cash application, collection or resolving<br />

disputes has a knock-on impact on the<br />

others.I will explain by way of an analogy.<br />

Imagine you’re going on holiday. You’ve<br />

booked your hotel, your hire car and your<br />

flights through different providers. Then,<br />

your flights are suddenly cancelled (not<br />

an unlikely scenario these days). You’re in<br />

trouble, because you booked your hotel<br />

and your hire car separately, and they<br />

couldn’t care less that your flight was<br />

cancelled. Because the individual parts of<br />

the whole were not connected, the entire<br />

system collapsed when one part failed.<br />

Automating each of your processes one<br />

by one in this way puts you at risk of this<br />

eventuality. A more advanced, end-toend<br />

solution allows for a more holistic<br />

approach, wherein each action has an<br />

opposite reaction.<br />

The only constant, as they say, is change.<br />

Preparing your business for volatility<br />

with this mindset and the right suite of<br />

intelligence and automation will put you<br />

in a strong position for the uncertainty<br />

to come. I believe optimisation of these<br />

areas will be evident in those companies<br />

that survive – and clearly lacking in those<br />

that don’t.<br />

Andy Lilley is Managing Director<br />

Global AR, BlackLine.<br />

Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 43

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Come fly with me?<br />

Delays, shortages and strikes: how is the<br />

aviation industry coping?<br />

AUTHOR – Nicola Harris<br />

IT’S fair to say the travel industry hasn’t<br />

had the easiest year so far, and with<br />

the summer holiday season came a<br />

fresh lot of setbacks for a sector already<br />

under immense pressure.<br />

Recent data from the Civil Aviation<br />

Authority (CAA) shows that one in five (19.5<br />

percent) flights leaving UK airports took off later<br />

than planned in the last financial year, with the<br />

average delay standing still for 11 minutes. But<br />

what’s causing so many airports to delay their<br />

flights? And what impact has this had upon the<br />

industry?<br />

At the heart of the issue is severe staff<br />

shortages. Following huge reductions in flight<br />

departures during the COVID-19 pandemic,<br />

airlines were operating with limited cabin<br />

crew as a large proportion of staff were either<br />

furloughed, made redundant or left to find more<br />

stable employment. Airports, too, reduced the<br />

number of workers and cleaners on the floor<br />

in line with the reduced number of flights.<br />

But despite increasing demand, both airlines<br />

and airports have been struggling to hire ever<br />

since, and have yet to recover to pre-pandemic<br />

workforce numbers.<br />

As restrictions have eased across Europe, <strong>2022</strong><br />

will see many jetting off on their first holiday<br />

abroad in in almost three years. Business travel<br />

is also on the increase as companies seek to<br />

move back to in-person meetings after years<br />

of virtual working. This sudden increase in<br />

demand, combined with the staff shortages, has<br />

resulted in passengers queuing for hours to go<br />

through security or to collect their luggage, and<br />

suffering last-minute flight cancellations. This<br />

inevitably has impacted customer relations and<br />

overall consumer satisfaction. With increased<br />

travel time and additional expenses on food and<br />

accommodation becoming far more frequent,<br />

there has been a substantial rise in customers<br />

having to pay out unforeseen costs.<br />


With airport and airline staff under huge<br />

amounts of pressure, it’s unsurprising that<br />

strikes have become somewhat routine. EasyJet,<br />

British Airways and Ryanair all have strikes<br />

scheduled across Europe during Summer<br />

<strong>2022</strong>, pushing many airlines to increase pay to<br />

encourage their employees to return to work.<br />

In the latest anticipated strike at Heathrow<br />

Airport, British Airways granted workers an<br />

eight percent pay rise to avoid further disruption<br />

at the UK’s busiest airport. And with rising fuel<br />

and maintenance costs, as well as compensation<br />

pay-outs for delayed and cancelled flights,<br />

airlines are seeing a direct impact on overall<br />

revenue.<br />

❝<br />

With airport and<br />

airline staff under<br />

huge amounts<br />

of pressure, it’s<br />

unsurprising<br />

that strikes have<br />

become somewhat<br />

routine. EasyJet,<br />

British Airways and<br />

Ryanair all have<br />

strikes scheduled<br />

across Europe<br />

during Summer<br />

<strong>2022</strong>, pushing many<br />

airlines to increase<br />

pay to encourage<br />

their employees to<br />

return to work.<br />

❝<br />

It’s had a serious knock-on effect on the<br />

economy as a whole. As airline costs increase,<br />

carriers are inclined to charge passengers a<br />

higher fare, not only affecting holiday goers but<br />

also those industries such as tourism, which<br />

rely on air travel. And although it may seem<br />

like these price increases won’t directly impact<br />

many, they feed into the overall rise in inflation<br />

and, over time, will play a role in squeezing<br />

consumer spend.<br />

But it’s not all bad news. Despite the<br />

delays, demand for travel remains strong and<br />

airlines are putting processes in place to help<br />

mitigate further disruptions. As customers<br />

and businesses become more accustomed to<br />

the potential disruptions, they too are being<br />

strategic in their arrangements.<br />

For those businesses looking at how to best<br />

navigate the journey ahead, it would be wise to<br />

invest in full-proof travel and credit insurance.<br />

This is particularly important for trading<br />

overseas to ensure cover against non-payment<br />

in the event of delayed departures and the late<br />

arrival of goods. <strong>Credit</strong> insurance also allows<br />

businesses to vet who they will be trading in;<br />

a benefit that has proven invaluable for those<br />

looking to expand to new markets.<br />

The hope is that by 2023 the situation will<br />

have calmed down and staff retention will<br />

have increased, but for now, and as the rate<br />

of inflation stands, customers and businesses<br />

looking to travel and trade globally must<br />

continue to step carefully.<br />

Nicola Harris is Senior Underwriter<br />

at Atradius UK & Ireland.<br />

Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 45

ESG<br />

AUTHOR – Simona Scarpaleggia.<br />

❝<br />

Hybrid working at its<br />

best can be a tool to<br />

unleash the true potential<br />

of an organisation. It<br />

means not only adapting<br />

the days and hours that<br />

we work, but also the<br />

workplace itself.<br />

❝<br />



Why business leaders must<br />

think inclusively in considering<br />

a hybrid working model.<br />

Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 46

ESG<br />

AUTHOR – Simona Scarpaleggia.<br />

FLEXIBLE working used to be an issue that<br />

caused business leaders and managers<br />

a considerable amount of angst. And<br />

while the pandemic has necessitated the<br />

need for both employee and employer to<br />

be more flexible in their thoughts and<br />

processes, the issue is far from resolved.<br />

Some leaders are undoubtedly still resistant to<br />

change; some also want to go back to the way it was. A<br />

recent report from Deloitte (Women @ Work <strong>2022</strong> – a<br />

Global Outlook), for example, shows that only a third<br />

(33 percent) of women say that their organisations<br />

have flexible working policies, and more than nine<br />

out of ten (94 percent) feared that making a formal<br />

request for flexible working would seriously impact<br />

their future chances of promotion.<br />

And yet over the past two years, many employees<br />

have become used to a hybrid model, and how it<br />

supports a better work/life balance. They have similarly<br />

become accustomed to the significant savings in cost<br />

and working hours from not having to commute. It is<br />

understandable, therefore, that they are reluctant to<br />

give up their newly won freedoms which leaves their<br />

leaders in something of a quandary.<br />

But rather than a threat to the workplace of<br />

the future, why should leaders of businesses and<br />

organisations see flexible and hybrid working as an<br />

opportunity?<br />


Firstly, they need to recognize that those in favor of<br />

hybrid working tend to fall into one of three categories:<br />

primary care givers – those responsible for children<br />

or elderly relatives for example; heavy commuters<br />

– those with a long, expensive and often stressful<br />

daily journey into work; and the more sensitive –<br />

those who may struggle with either mental or physical<br />

health, and who benefit from quiet and their own<br />

‘space’.<br />

What all three category types have in common is<br />

that they all comprise a resource with enormous talent<br />

and potential. Put another way, they all constitute a<br />

risk that their talents will be lost if their employees fail<br />

to be more flexible in their working practices and/or<br />

return to the ‘five-days in the office every week’ model<br />

pre-pandemic.<br />

At a time when talent is a scant resource, looking<br />

after these people is a new imperative, and that will<br />

require some leaders to adapt their approach in the<br />

future. Future leaders will have to be more caring and<br />

inclusive in their actions. They will need to be clear<br />

in shaping and communicating their expectations of<br />

others. And they will need to adapt their own style of<br />

leadership, to lead by example, to inspire the people<br />

around them, as a leader they can trust.<br />

Of course, many of the best leaders already<br />

demonstrate these traits, but certainly not all. A<br />

general lack of trust in society does not help and<br />

contributes to an increasing lack of trust in the<br />

workplace. Creating an environment of trust and<br />

inclusivity, therefore, where individuals feel genuinely<br />

free to make suggestions and propose ideas and<br />

solutions for better ways of working will be essential,<br />

but none of those ideas will be forthcoming without<br />

that basic level of trust being in place.<br />



This concept of inclusivity is particularly important;<br />

hybrid working means individuals being ‘absent’<br />

from the workplace, at least physically, and there is a<br />

natural tendency for leaders to ‘forget’ employees who<br />

are ‘out of sight; out of mind’.<br />

The report from Deloitte suggests that almost 60<br />

percent of women who work in hybrid environments<br />

feel they have been excluded from important meetings,<br />

and almost half say they do not have exposure to their<br />

leaders, a critical enabler of sponsorship and career<br />

progression. Only a quarter of those women surveyed<br />

for the report say their employer has set clear<br />

expectations of how and where they should work,<br />

which is particularly stressful for those who need<br />

some certainty in order to plan childcare, for example.<br />

It needn’t be so. Inclusive, supportive organisations<br />

are proven to gain a competitive advantage. Leaders, in<br />

particular, have a crucial role in this. Being inclusive<br />

in a hybrid workplace context requires leaders not only<br />

to be able to read signals and observe behaviours, but<br />

also to act upon them; it requires them to enhance their<br />

listening skills and improve how they communicate;<br />

and ultimately it requires them to become a source of<br />

clarity in setting goals and expectations as well as a<br />

source of inspiration for the employees.<br />

Leaders who foster genuinely inclusive cultures,<br />

and who support the health and wellbeing of<br />

their employees, deliver much greater employee<br />

satisfaction, and employees tend to stay with those<br />

organisations for longer. They also tend to report a<br />

much more positive experience of hybrid working.<br />


Hybrid working at its best can be a tool to unleash the<br />

true potential of an organisation. It means not only<br />

adapting the days and hours that we work, but also the<br />

workplace itself.<br />

Many leaders are currently debating whether the<br />

space they had prior to the pandemic is still needed<br />

now, when actually the conversation should be<br />

about how to make the space that you do have more<br />

conducive to work. It will likely mean that the physical<br />

space in the future may be near enough the same<br />

size, but likely to be fitted out and utilised in a very<br />

different way by the people who work there.<br />

Leaders who see the concept of hybrid working<br />

only in the context of ‘efficiency’ are fundamentally<br />

missing the point. The debate should never be focused<br />

mainly on the efficiency of the workforce, but rather<br />

consider its ‘effectiveness’. Systems and technologies<br />

can help improve efficiency over time, whereas it will<br />

still be people – regardless of where they work - who<br />

will secure the effectiveness of the decisions and of<br />

the implementation plans.<br />

The winners in the future will be those organisations<br />

who embrace this idea first, who ensure the proper<br />

policies and processes are in place that encourage new<br />

ways of working, and in doing so attract and retain the<br />

talent we all so desperately need to succeed in the<br />

future.<br />

Simona Scarpaleggia is a Board Member of EDGE<br />

Strategy and former CEO of IKEA in Switzerland.<br />

Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 47


Standing out<br />

from the crowd<br />

How to write a winning job advert.<br />

AUTHOR – Natascha Whitehead<br />

FIRST, use a common, searchable job title – and include<br />

the location such as <strong>Credit</strong> Controller, London, or<br />

<strong>Credit</strong> Underwriter, Manchester. This will help to<br />

ensure your job advert is searched for and found by<br />

relevant candidates across the country using search<br />

engines such as cv-library, totaljobs, Google, and Bing.<br />

Make sure the job advert’s body content is clear, succinct,<br />

relevant and includes commonly searched keywords. It also needs<br />

to be easy to read, and in this digital world scanned quickly by<br />

job hunters. So consider how you will structure the advert – for<br />

example using bullet points. This is essential for ensuring it ranks<br />

well in relevant online searches.<br />

When deciding what information to prioritise in the body of the<br />

advert, ask yourself what credit professionals would really find<br />

valuable, and what would incentivise them to apply.<br />

Whilst it’s tempting to include all the information about your<br />

organisation you can think of, remember that candidates are<br />

looking for information that affects their day-to-day life, such as<br />

what the work involves, what skills are needed, what success in the<br />

role looks like and what potential career path it holds? Job seekers<br />

are also interested in the principles of the company culture, as<br />

much as the compensation and benefits on offer.<br />

Connect the job with your company’s strategic priorities. What<br />

are the broader objectives of your organisation, and how does this<br />

role help to achieve them? This, in turn, will enable your company<br />

to showcase its innovation.<br />

Now, on to the type of language that I’d advise using in a job ad…<br />

Writing a job description is – in essence – professional writing,<br />

so there are certain rules that should be followed when composing<br />

one.<br />

When crafting a job description, remember to use empathetic<br />

language. Using compassionate language in your job advert is an<br />

opportunity for your organisation to show that your brand has a<br />

human face and that people are your first priority. Using language<br />

that depicts working as a team or a collective is also important.<br />

Avoid negative language. Words such as ‘can’t’, ‘never’, and ‘must’<br />

imply, in an underlying way, that you are demanding things from<br />

the candidate or telling them what to do.<br />

Make sure diverse imagery and language are included and use<br />

first or second-person language. Third-person language is too<br />

formal and creates a gulf between you and prospective candidates,<br />

whereas a first or second-person approach helps candidates see<br />

themselves in the role. Saying ‘we will…’ or ‘you will…’ feels much<br />

more personable than ‘the successful candidate will…’.<br />

And finally, include the salary in your job description! Our March<br />

<strong>2022</strong> Quarterly Insights Survey of over 9,000 respondents revealed<br />

that more than a quarter (26 per cent) of candidates would not<br />

consider applying for a role that didn’t have a salary listed within<br />

the job advert.<br />

Including this information within the job description helps job<br />

seekers decide whether the role is what they are after – both in a<br />

pragmatic sense (i.e., will it cover the bills) and whether it has an<br />

appropriate seniority level.<br />

❝<br />

Whilst it’s tempting to<br />

include all the information about<br />

your organisation you can think<br />

of, remember that candidates<br />

are looking for information that<br />

affects their day-to-day life,<br />

such as what the work involves,<br />

what skills are needed, what<br />

success in the role looks like and<br />

what potential career path it<br />

holds?<br />

❝<br />

Natascha Whitehead is Business Director<br />

& UK Channel Lead of Hays <strong>Credit</strong> <strong>Management</strong>.<br />

Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 48

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With our impressive industry leading recovery rates,<br />

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you can trust HCE Group to collect more for you and<br />

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Instruct us for<br />

Enforcement of judgments and tribunal awards<br />

Eviction of activists, squatters and travellers<br />

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Vehicle recovery and enquiry<br />

Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 49<br />

To find out more or instruct us<br />

08450 999 666<br />






Pembrokeshire, £30,000-£40,000<br />

Due to restructure, a skilled Accounts Receivable Manager<br />

with some really robust exposure to ‘hands on’ <strong>Credit</strong> Control is<br />

required to join a growing business. You will have experience of<br />

running a small team, but equally will not be adverse to picking up<br />

the phone and making a few calls. This is a fully office based role,<br />

so a locally based candidate is essential.<br />

Ref: 4263242<br />

Contact Emma Lewis on 01792 642042<br />

or email emma.lewis@hays.com<br />


Manchester City Centre, £26,000-£28,000<br />

This role is an ideal fit for someone who is looking for a role<br />

within a rapidly growing business with great opportunity to<br />

progress their career. This comes in the form of supervisory roles<br />

becoming available due to growth and study support funded by<br />

the business. Other perks include hybrid working (2 days a week<br />

in the office), flexibility on working hours and much more!<br />

Ref: 4159739<br />

Contact Adam Crossland on 07496 731011<br />

or email adam.crossland@hays.com<br />


Central London, £30,000-£35,000<br />

This start up insurance firm is looking to develop a credit<br />

department and establish debt collection procedures. This role will<br />

come in and establish the credit department, build up processes<br />

and functions, and be responsible for the collection of company<br />

debts. With future opportunities to build a team out around you,<br />

this is an ideal role for a progressive and driven credit controller.<br />

Ref: 4256321<br />

Contact Daniel Lee on 020 3465 0020<br />

or email daniel.lee1@hays.com<br />


Chessington, £29,000 + bonus<br />

Managing a ledger of approximately 300 live accounts you will<br />

be responsible for generating maximum cash flow, minimising<br />

bad debt and providing a high standard of customer service<br />

to both external and internal contacts. Your varied role will<br />

also include raising invoices and preparing statements.<br />

Hybrid working arrangements are also offered, along with<br />

excellent career development opportunities.<br />

Ref: 4152072<br />

Contact Mark Ordona on 020 8247 4042<br />

or email mark.ordona@hays.com<br />

hays.co.uk/creditcontrol<br />

© Copyright Hays plc <strong>2022</strong>. The HAYS word, the H devices, HAYS WORKING Brave | FOR Curious YOUR | Resilient TOMORROW / www.cicm.com and Powering the world / <strong>September</strong> of work and <strong>2022</strong> associated / PAGE 50 logos and artwork are trademarks of Hays plc.<br />

The H devices are original designs protected by registration in many countries. All rights are reserved. <strong>CM</strong>-1126302156


Chertsey, up to £47,000 + bonus and benefits<br />

Running a team of seven, you will take full responsibility for all<br />

aspects of the order to cash function. 80% of this role will focus<br />

on the complex billing process, therefore will suit a candidate<br />

who is highly skilled in this area. Great opportunity for a driven<br />

candidate to raise the profile of the department and progress<br />

their own career in a market leading business.<br />

Ref: 4169888<br />

Contact Natascha Whitehead on 07770 786433<br />

or email natascha.whitehead@hays.com<br />


Basingstoke, £27,000 + excellent bonus structure<br />

Due to continuous growth, a market leading technology business<br />

is expanding the team and wants to recruit a future star. They are<br />

looking for a hardworking and progressive credit controller who can<br />

work to targets and build positive relationships with both the sales<br />

team and the customer base. Your hard work will be rewarded with<br />

an excellent bonus structure and career development.<br />

Ref: 4246379<br />

Contact Natascha Whitehead on 07770 786433<br />

or email natascha.whitehead@hays.com<br />

This is just a small selection of the many opportunities<br />

we have available for credit professionals. To find out<br />

more, visit our website or contact Natascha Whitehead,<br />

<strong>Credit</strong> <strong>Management</strong> UK Lead at Hays on 07770 786433.<br />

Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 51


Big <strong>Credit</strong> <strong>Management</strong> review<br />

Annual Kent Branch<br />

A<br />

glorious sunny day in<br />

mid-June brought around<br />

70 members and guests<br />

to the Law Society in<br />

Chancery for the annual<br />

Kent Branch event.<br />

Charles and Joshua Mayhew, from<br />

Global <strong>Credit</strong> Recoveries, ensured a<br />

lively start to proceedings by running a<br />

20-minute speed networking session over<br />

coffee and pastries, which set the tone for<br />

a highly successful occasion.<br />

The multi-talented Charles then acted<br />

as MC for the main presentations and<br />

introduced Annie Lagrue, Branch Chair,<br />

who formally welcomed everybody to a<br />

packed programme of talks covering the<br />

‘hot topics’ of the day.<br />

Tracey Westell, Branch Vice-Chair,<br />

took us ‘back to basics’ and espoused the<br />

importance of training and developing<br />

staff to improve knowledge and skills<br />

for the benefit of both the employer<br />

and the employee. The CI<strong>CM</strong>’s new<br />

training courses and platforms were also<br />

highlighted to the audience.<br />

Matthew White of Cforia then led<br />

us on a journey to explain how the<br />

COVID-19 virus has accelerated the global<br />

AUTHOR – Kevin Artlett FCI<strong>CM</strong> ACII<br />

digitisation of customer interactions by<br />

about seven years. Following on from<br />

this, the audience was treated to a clear<br />

explanation on understanding the use<br />

and advantages of utilising Artificial<br />

Intelligence (AI) in cash application with<br />

some practical examples.<br />

As witnessed in the Question & Answer<br />

session at the end of the presentations,<br />

Natascha Whitehead, Business Director at<br />

Hays, attracted several queries from the<br />

floor after presenting the Employment<br />

Update as of June <strong>2022</strong>. The key message<br />

which people took away was that even<br />

though job vacancies are up 40 percent<br />

on pre-COVID levels and candidates have<br />

never faced less competition, the onus is<br />

on those looking for jobs to top up those<br />

qualifications and really ‘sell themselves’<br />

to the hiring managers.<br />

Dan Hancocks, Managing Director of<br />

CoCredo gave a fascinating insight into the<br />

differing opinions of <strong>Credit</strong> References<br />

Agencies on the same companies and<br />

explained how they reviewed the strengths<br />

and weaknesses of each provider in more<br />

detail. In addition, Dan provided some<br />

top tips on how to counteract this and<br />

other ‘burning issues’ such as collecting<br />

data from as many sources as possible.<br />

The final slot was delivered by<br />

Alan J Smith, Chair of the High Court<br />

Enforcement Officers Association, giving<br />

an update on High Court Enforcement<br />

and Commercial Rent Arrears following<br />

the pandemic. This encompassed<br />

the regulations and guidelines which<br />

were introduced specially, when the<br />

moratoriums on residential evictions<br />

and commercial rent arrears recovery<br />

and forfeiture were lifted and ended<br />

with a plea to support court users who<br />

would like the freedom of choice to use<br />

either a County Court Bailiff or a High<br />

Court Enforcement Office to enforce any<br />

judgment.<br />

A brief question and answer session<br />

followed the talks before several of the<br />

guests then adjourned for much-needed<br />

refreshments in a local hostelry.<br />

Thanks again must go to the sponsors:<br />

Global <strong>Credit</strong> Recoveries, TG Baynes<br />

Solicitors, Henderson Chambers, and<br />

the High Court Enforcement Officers<br />

Association.<br />

Kevin Artlett FCI<strong>CM</strong> ACII<br />

Secretary CI<strong>CM</strong> Kent Branch.<br />

Doing nothing is not an option<br />

East of England Branch Webinar<br />

WHAT lies ahead during these<br />

unprecedented times and best practice<br />

when faced by Corporates Insolvencies<br />

were the key themes of a webinar<br />

presented by Steve Walsh, Annabel Gray<br />

and Dilip Dattani of RSM UK <strong>Credit</strong>or<br />

Solutions LLP. At the heart of the webinar<br />

was the serious message that <strong>2022</strong> is a<br />

tough year, with no signs of easing. The<br />

option of doing nothing is one to swerve<br />

in favour of understanding the warning<br />

signs when businesses get in trouble and<br />

acting to ‘protect your position’.<br />

The team walked us through the Decline<br />

Curve – as corporate health declines,<br />

options available decrease. We were<br />

shown the six key signs when businesses<br />

get in to trouble and eight tips on how to<br />

handle this.<br />

Key takeaways included identifying<br />

where a business is on the decline curve,<br />

engaging customers without delay and<br />

taking advice promptly where a business<br />

is in a stage of decline. The section on<br />

Corporate Insolvency was extremely<br />

useful, taking us through the definition of<br />

insolvency (defined by S.123 Insolvency<br />

Act 1986). I am sure many of us didn’t<br />

know the rescue procedures and end<br />

of life procedures plus the role of an<br />

Insolvency Practitioner.<br />

There was an excellent segment on<br />

fraud – how to identify it and the steps<br />

to take. Knowing definitively what fraud<br />

is, the warning signs and information<br />

gathering was topped off with the key<br />

actions to take for a known fraud existing<br />

client. The questions that followed<br />

showed how valuable the webinar was<br />

and how it had really made us think about<br />

applying the tips in a work context.<br />

Take advantage of the excellent handout<br />

provided by the team at RSM by emailing<br />

Steve.Walsh@rsmuk.com and requesting<br />

a copy.<br />

Andy Moylan FCI<strong>CM</strong><br />

CI<strong>CM</strong> East of England Branch.<br />

Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 52

THE West Midlands Branch Annual Awards<br />

Night was held at Primitivo Bar & Restaurant<br />

on June 15, to present awards in respect of<br />

exam results attained in 2021. It was also the<br />

occasion to present Kim Delaney-Bowen with<br />

her Meritorious Service award in recognition of<br />

her invaluable service to CI<strong>CM</strong> at Branch level<br />

and H.O level.<br />

The exam results awards are presented to try<br />

to encourage members to become more active<br />

within CI<strong>CM</strong> and help develop their careers by<br />

making new contacts who can help them on<br />

the road to qualification. This year was a small<br />

event because overall results were lower than<br />

usual and we decided not to lower our expected<br />

threshold for members to be considered for a<br />

prize. Also two winners were unable to attend<br />

and will be presented with their prize and<br />

certificates at a future event.<br />

Along with Kim, Charlotte Sweeney was<br />

presented with a prize for highest marks<br />

in accounting principles, Kelly Booth was<br />

presented with her prize for highest marks<br />

in business environment (she was last year’s<br />

Student of the Year and also joined our<br />

committee) and Jack Tristram won his prize for<br />

highest marks in consumer collections.<br />


Winners all!<br />

West Midlands Branch<br />

AUTHOR – Peter Cartwright<br />

The CI<strong>CM</strong> Benevolent Fund is<br />

here to support members of<br />

the CI<strong>CM</strong> in times of need.<br />

Some examples of how CI<strong>CM</strong> have helped our members are:<br />

• Financed the purchase of a mobility scooter for a disabled member.<br />

• Helped finance the studies of the daughter of a member who<br />

became unexpectedly ill.<br />

• Financed the purchase of computer equipment to assist an<br />

unemployed member set up a business.<br />

• Contributed towards the purchase of an orthopaedic bed for one<br />

member whose condition was thereby greatly eased.<br />

• Helped with payment for a drug, not available on the NHS, for<br />

medical treatment of another member.<br />

If you or any dependants are in need or in distress, please apply today – we are here to<br />

help. (Your application will then be reviewed by the CI<strong>CM</strong> Benevolent Fund committee and<br />

you will be advised of their decision as quickly as possible)<br />

Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 53


Striving for Equality<br />

A case that draws a line between protecting philosophical<br />

beliefs and respecting the law, and another that shows how<br />

Long COVID might be classified as a disability.<br />

AUTHOR – Gareth Edwards<br />

LONG COVID is a condition<br />

that is likely to take some<br />

time to fully understand. It<br />

can be difficult for employers<br />

to navigate issues relating to<br />

Long COVID in the workplace<br />

because it is a condition that affects<br />

sufferers very differently. We are now<br />

beginning to see the first claims coming<br />

up through the Tribunals.<br />

In the claim of Burke v Turning Point<br />

Scotland, Mr Burke was employed as a<br />

caretaker. He tested positive for COVID-19<br />

in November 2020. He began to deteriorate<br />

towards the end of his isolation period<br />

and was unable to return to work. His<br />

symptoms, which were described as<br />

'unpredictable', included joint pain, loss<br />

of appetite, reduced ability to concentrate,<br />

fatigue and exhaustion. Although Burke<br />

continued to provide fit notes from his GP<br />

to evidence his inability to return to work<br />

during his period of sick leave, Turning<br />

Point began to question the validity of<br />

his symptoms. Two occupational health<br />

reports were requested by the employer.<br />

These stated he was fit to return to work<br />

and unlikely to be disabled under the<br />

Equality Act. However, due to his ongoing<br />

symptoms, Burke did not in fact return to<br />

work. He was dismissed in August 2021.<br />

The Tribunal concluded Burke was<br />

disabled during the relevant period. He had<br />

a physical impairment (post-viral fatigue<br />

syndrome caused by COVID-19) which had<br />

an adverse effect on his ability to carry out<br />

normal day-to-day activities. The adverse<br />

effect was more than minor or trivial, and<br />

it was long term. Burke had no incentive to<br />

remain off work having exhausted his sick<br />

pay. The Tribunal considered he was not<br />

exaggerating his symptoms.<br />

This case is a helpful illustration of when<br />

Long COVID symptoms might qualify a<br />

person as disabled for the purposes of the<br />

Equality Act. The fact symptoms might<br />

fluctuate will not automatically prevent a<br />

person from being classed as disabled.<br />

Employers should seek medical advice<br />

to understand an employee's condition if<br />

they are suffering from Long COVID. As<br />

part of this advice, employers should ask<br />

whether there are any adjustments that<br />

might help the employee return to, or<br />

remain in, work. The employer can then<br />

take a decision on whether any proposed<br />

adjustments are reasonable.<br />

This case is a helpful illustration of when Long COVID symptoms might qualify a person<br />

as disabled for the purposes of the Equality Act. The fact symptoms might fluctuate will not<br />

automatically prevent a person from being classed as disabled.<br />

The Equality Act and law breaking<br />

AN ethical vegan who believed she was under<br />

an obligation to expose and reduce animal<br />

suffering by breaking the law, did not qualify<br />

for protection under the Equality Act.<br />

In the case of Free Miles v The Royal Veterinary<br />

College (RVC), Ms Free Miles was dismissed by<br />

the RVC following her arrest in connection with<br />

alleged burglaries by the Animal Liberation<br />

Front. Free Miles argued her belief in ethical<br />

veganism included a moral obligation to<br />

take action to reduce animal suffering. She<br />

brought Tribunal claims including a claim<br />

for direct and indirect philosophical belief<br />

discrimination.<br />

In order to succeed in her claims, the<br />

Tribunal would have had to accept that Free<br />

Miles' beliefs amounted to a philosophical<br />

belief under section 10 of the Act.<br />

Religion or belief (including philosophical<br />

belief) is a protected characteristic under the<br />

Act. The 2010 case of Grainger v Nicholson set<br />

out the five criteria for establishing the types of<br />

philosophical belief that will be protected under<br />

the framework in the Act (the Grainger criteria):<br />

The belief must be genuinely held; it must be<br />

a belief and not an opinion or viewpoint based<br />

on the present state of information available; it<br />

must be a belief as to a weighty and substantial<br />

aspect of human life and behaviour; it must<br />

attain a certain level of cogency, seriousness,<br />

cohesion and importance; and it must be<br />

worthy of respect in a democratic society, not<br />

be incompatible with human dignity and not<br />

conflict with the fundamental rights of others.<br />

The final Grainger criterion was significant to<br />

the Tribunal’s decision in Free Miles' case.<br />

The Tribunal found ethical veganism can be<br />

a protected philosophical belief under the Act.<br />

However, Free Miles' belief included a belief she<br />

was under an obligation to break the law. Her<br />

belief therefore did not satisfy the fifth element<br />

of the Grainger test.<br />

What can employers learn from this decision?<br />

This is a first instance decision, so it will not<br />

be binding on other tribunals. Nevertheless,<br />

it is a logical decision that offers a useful<br />

demonstration of where the line is drawn<br />

between protecting philosophical beliefs and<br />

maintaining a wider respect for the law.<br />

Gareth Edwards is a partner in the<br />

employment team at VWV.<br />

Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 54

IN<br />


WITH<br />

UKCCC<br />

<strong>2022</strong><br />



#ukccc<strong>2022</strong><br />

Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 55<br />

AWARDS<br />


Cr£ditWho?<br />

CI<strong>CM</strong> Directory of Services<br />




Controlaccount Plc<br />

Address: Compass House, Waterside, Hanbury Road,<br />

Bromsgrove, Worcestershire B60 4FD<br />

T: 01527 386 610<br />

E: sales@controlaccount.com<br />

W: www.controlaccount.com<br />

Controlaccount plc has been providing efficient, effective and<br />

ethical pre-legal debt recovery for over forty years. We help our<br />

clients to improve internal processes and increase cashflow,<br />

whilst protecting customer relationships and established<br />

reputations. We have long-standing partnerships with leading,<br />

global brand names, SMEs and not for profits. We recover<br />

over 30,000 overdue invoices each month, domestically and<br />

internationally, on a no collect, no fee arrangement. Other<br />

services include credit control and dunning services, international<br />

and domestic trace and legal recoveries. All our clients have<br />

full transparency on any accounts placed with us through our<br />

market leading cloud-based management portal, ClientWeb.<br />

BlaserMills Law<br />

High Wycombe | Amersham | Marlow | Silverstone<br />

Rickmansworth | London<br />

Jackie Ray : 07802 332104 | 01494 478660<br />

jar@blasermills.co.uk<br />

Nina Toor : 01494 478661 nit@blasermills.co.uk<br />

Edward Bible : 07766 013352 ceb@blasermills.co.uk<br />

www.blasermills.co.uk<br />

Commercial Recoveries & Insolvency<br />

Blaser Mills Law’s commercial recoveries team is internationally<br />

recognised, regularly advising large corporations, multinationals<br />

and SMEs on pre-legal collections, debt recovery, commercial<br />

litigation, dispute resolution and insolvency. Our legal services<br />

are both cost-effective and highly efficient; Our lawyers are also<br />

CI<strong>CM</strong> qualified and ranked in the industry leading law firm rankings<br />

publications, Legal 500 and Chambers UK.<br />

CoCredo<br />

Missenden Abbey, Great Missenden, Bucks, HP16 0BD<br />

T: 01494 790600<br />

E: customerservice@cocredo.com<br />

W: www.cocredo.co.uk<br />

Celebrating its 20th year in business, CoCredo has extensive<br />

experience in providing online company credit reports and<br />

related business information within the UK and overseas. In 2014<br />

and 2019 we were honoured to be awarded <strong>Credit</strong> Information<br />

Provider of the Year at the British <strong>Credit</strong> Awards and have been<br />

finalists every other year. Our company data is continually updated<br />

throughout the day and ensures customers have the most current<br />

information available. We aggregate data from a range of leading<br />

providers across over 235 territories and offer a range of services<br />

including the industry first Dual Report, Monitoring, XML Integration<br />

and DNA Portfolio <strong>Management</strong>.<br />

We pride ourselves in offering award-winning customer service and<br />

support to protect your business.<br />

Global <strong>Credit</strong> Recoveries<br />

GCR 20-22 Wenlock Road,<br />

London N1 7GU<br />

Charles Mayhew FCI<strong>CM</strong> or Joshua Mayhew ACI<strong>CM</strong><br />

T: +44 (0) 203 368 8630<br />



Shortlisted as DCA of the Year, by the CI<strong>CM</strong>, for the British <strong>Credit</strong><br />

Awards, Global <strong>Credit</strong> Recoveries Ltd are specialists in Arbitration<br />

and Debt Collection globally.<br />

We specialise in the UK, Europe, The Middle East and the U.S.A,<br />

working as an extension of many CI<strong>CM</strong> members companies for<br />

over 28 years.<br />

Speak with us today in our London or Dubai offices, to see how<br />

we can assist you.<br />

We have the ability, and network, to have someone visiting your<br />

debtors offices, throughout EMEA, within 72 hours.<br />

Recovering funds globally, on a No-Recovery, No-Fee basis.<br />

Lovetts Solicitors<br />

Lovetts, Bramley House, The Guildway,<br />

Old Portsmouth Road,<br />

Guildford, Surrey, GU3 1LR<br />

T: 01483 347001<br />

E: info@lovetts.co.uk<br />

W: www.lovetts.co.uk<br />

With more than 25yrs experience in UK & international business<br />

debt collection and recovery, Lovetts Solicitors collects £40m+<br />

every year on behalf of our clients. Services include:<br />

• Letters Before Action (LBA) from £1.50 + VAT (successful in 86%<br />

of cases)<br />

• Advice and dispute resolution<br />

• Legal proceedings and enforcement<br />

• 24/7 access to your cases via our in-house software solution,<br />

CaseManager<br />

Don’t just take our word for it, here’s some recent customer<br />

feedback: “All our service expectations have been exceeded.<br />

The online system is particularly useful and extremely easy to<br />

use. Lovetts has a recognisable brand that generates successful<br />

results.”<br />

Company Watch<br />

Centurion House, 37 Jewry Street,<br />

LONDON. EC3N 2ER<br />

T: +44 (0)20 7043 3300<br />

E: info@companywatch.net<br />

W: www.companywatch.net<br />

Organisations around the world rely on Company Watch’s<br />

industry-leading financial analytics to drive their credit risk<br />

processes. Our financial risk modelling and ability to map medium<br />

to long-term risk as well as short-term credit risk set us apart<br />

from other credit reference agencies.<br />

Quality and rigour run through everything we do, from our unique<br />

method of assessing corporate financial health via our H-Score®,<br />

to developing analytics on our customers’ in-house data.<br />

With the H-Score® predicting almost 90 percent of corporate<br />

insolvencies in advance, it is the risk management tool of choice,<br />

providing actionable intelligence in an uncertain world.<br />


Guildways<br />

T: +44 3333 409000<br />

E: info@guildways.com<br />

W: www.guildways.com<br />

Guildways is a UK & International debt collection specialist with over<br />

25 years experience. Guildways prides itself on operating to the<br />

highest ethical standards and professional service levels. We are<br />

experienced in collecting B2B and B2C debts. Our service includes:<br />

• A complete No collection, No Fee commission based service<br />

• 10% plus VAT commission for UK debts<br />

• Commission from 22% plus VAT for International debts<br />

• 24/7 online access to your cases through our CaseManager portal<br />

• Direct online account-to-account payments, to speed up<br />

collections and minimise costs<br />

If you are unable to locate your customer, we also offer a no trace, no<br />

fee, trace and collect service.<br />

For more information, visit: www.guildways.com<br />

Cr£ditWho?<br />

CI<strong>CM</strong> Directory of Services<br />

Chris Sanders Consulting<br />

T: +44(0)7747 761641<br />

E: enquiries@chrissandersconsulting.com<br />

W: www.chrissandersconsulting.com<br />

Chris Sanders Consulting – we are a different sort of consulting<br />

firm, made up of a network of independent experienced<br />

operational credit & collections management and invoicing<br />

professionals, with specialisms in cross industry best practice<br />

advisory, assessment, interim management, leadership,<br />

workshops and training to help your team and organisation<br />

reach their full potential in credit and collections management.<br />

We are proud to be Corporate Partners of the Chartered Institute<br />

of <strong>Credit</strong> <strong>Management</strong>. For more information please contact:<br />

enquiries@chrissandersconsulting.com<br />

identeco – Business Support Toolkit<br />

Compass House, Waterside, Hanbury Road, Bromsgrove,<br />

Worcestershire B60 4FD<br />

Telephone: 01527 386 607<br />

Email: info@identeco.co.uk<br />

Web: www.identeco.co.uk<br />

identeco Business Support Toolkit provides company details<br />

and financial reporting for over 4m UK companies and<br />

business. Subscribers can view company financial health and<br />

payment behaviour, credit ratings, shareholder and director<br />

structures, detrimental data. In addition, subscribers can also<br />

download unlimited B2B marketing and acquisition reports.<br />

Annual subscription is only £79.95. Other services available<br />

to subscribers include AML and KYC reports, pre-litigation<br />

screening, trace services and data appending, as well as many<br />

others.<br />

Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 56



paul@centuryone.uk 01727 739 196<br />




HighRadius<br />

T: +44 (0) 203 997 9400<br />

E: infoemea@highradius.com<br />

W: www.highradius.com<br />

HighRadius provides a cloud-based Integrated Receivable<br />

Platform, powered by machine learning and AI. Our Technology<br />

empowers enterprise organisations to reduce cycle time in the<br />

order-to-cash process and increase working capital availability by<br />

automating receivables and payments processes across credit,<br />

electronic billing and payment processing, cash application,<br />

deductions, and collections.<br />

Tinubu Square UK<br />

Holland House, 4 Bury Street,<br />

London EC3A 5AW<br />

T: +44 (0)207 469 2577 /<br />

E: uksales@tinubu.com<br />

W: www.tinubu.com<br />

Founded in 2000, Tinubu Square is a software vendor, enabler<br />

of the <strong>Credit</strong> Insurance, Surety and Trade Finance digital<br />

transformation.<br />

Tinubu Square enables organizations across the world to<br />

significantly reduce their exposure to risk and their financial,<br />

operational and technical costs with best-in-class technology<br />

solutions and services. Tinubu Square provides SaaS solutions<br />

and services to different businesses including credit insurers,<br />

receivables financing organizations and multinational corporations.<br />

Tinubu Square has built an ecosystem of customers in over 20<br />

countries worldwide and has a global presence with offices in<br />

Paris, London, New York, Montreal and Singapore.<br />

Credica Ltd<br />

Building 168, Maxell Avenue, Harwell Oxford, Oxon. OX11 0QT<br />

T: 01235 856400E: info@credica.co.uk W: www.credica.co.uk<br />

Our highly configurable and extremely cost effective Collections<br />

and Query <strong>Management</strong> System has been designed with 3 goals<br />

in mind:<br />

•To improve your cashflow • To reduce your cost to collect<br />

• To provide meaningful analysis of your business<br />

Evolving over 15 years and driven by the input of 1000s of<br />

<strong>Credit</strong> Professionals across the UK and Europe, our system is<br />

successfully providing significant and measurable benefits for our<br />

diverse portfolio of clients.<br />

We would love to hear from you if you feel you would benefit from<br />

our ‘no nonsense’ and human approach to computer software.<br />

ESKER<br />

Sam Townsend Head of Marketing<br />

Northern Europe Esker Ltd.<br />

T: +44 (0)1332 548176 M: +44 (0)791 2772 302<br />

W: www.esker.co.uk LinkedIn: Esker – Northern Europe<br />

Twitter: @EskerNEurope blog.esker.co.uk<br />

Esker’s Accounts Receivable (AR) solution removes the all-toocommon<br />

obstacles preventing today’s businesses from collecting<br />

receivables in a timely manner. From credit management to cash<br />

allocation, Esker automates each step of the order-to-cash cycle.<br />

Esker’s automated AR system helps companies modernise<br />

without replacing their core billing and collections processes. By<br />

simply automating what should be automated, customers get the<br />

post-sale experience they deserve and your team gets the tools<br />

they need.<br />


Serrala UK Ltd, 125 Wharfdale Road<br />

Winnersh Triangle, Wokingham<br />

Berkshire RG41 5RB<br />

E: r.hammons@serrala.com W: www.serrala.com<br />

T +44 118 207 0450 M +44 7788 564722<br />

Serrala optimizes the Universe of Payments for organisations<br />

seeking efficient cash visibility and secure financial processes.<br />

As an SAP Partner, Serrala supports over 3,500 companies<br />

worldwide. With more than 30 years of experience and<br />

thousands of successful customer projects, including solutions<br />

for the entire order-to-cash process, Serrala provides credit<br />

managers and receivables professionals with the solutions they<br />

need to successfully protect their business against credit risk<br />

exposure and bad debt loss.<br />

FOR<br />





paul@centuryone.uk<br />

01727 739 196<br />

Court Enforcement Services<br />

Adele Whitehurst – Client Relationship Manager<br />

M: +44 (0)7525 119 711 T: +44 (0)1992 367 092<br />

E : a.whitehurst@courtenforcementservices.co.uk<br />

W: www.courtenforcementservices.co.uk<br />

Court Enforcement Services is the market leading and fastest<br />

growing High Court Enforcement company. Since forming in 2014,<br />

we have managed over 100,000 High Court Writs and recovered<br />

more than £187 million for our clients, all debt fairly collected. We<br />

help lawyers and creditors across all sectors to recover unpaid<br />

CCJ’s sooner rather than later. We achieve 39% early engagement<br />

resulting in market-leading recovery rates. Our multi-awardwinning<br />

technology provides real-time reporting 24/7. We work in<br />

close partnership to expertly resolve matters with a fast, fair and<br />

personable approach. We work hard to achieve the best results<br />

and protect your reputation.<br />


Gravity Global<br />

Floor 6/7, Gravity Global, 69 Wilson St, London, EC2A 2BB<br />

T: +44(0)207 330 8888. E: sfeast@gravityglobal.com<br />

W: www.gravityglobal.com<br />

Gravity is an award winning full service PR and advertising<br />

business that is regularly benchmarked as being one of the<br />

best in its field. It has a particular expertise in the credit sector,<br />

building long-term relationships with some of the industry’s bestknown<br />

brands working on often challenging briefs. As the partner<br />

agency for the <strong>Credit</strong> Services Association (CSA) for the past 22<br />

years, and the Chartered Institute of <strong>Credit</strong> <strong>Management</strong> since<br />

2006, it understands the key issues affecting the credit industry<br />

and what works and what doesn’t in supporting its clients in the<br />

media and beyond.<br />

FORUMS<br />

Data Interconnect Ltd<br />

45-50 Shrivenham Hundred Business Park,<br />

Majors Road, Watchfield. Swindon, SN6 8TZ<br />

T: +44 (0)1367 245777<br />

E: sales@datainterconnect.co.uk<br />

W: www.datainterconnect.com<br />

We are dedicated to helping finance teams take the cost,<br />

complexity and compliance issues out of Accounts Receivable<br />

processes. Corrivo is our reliable, easy-to-use SaaS platform<br />

for the continuous improvement of AR metrics and KPIs in a<br />

user-friendly interface. <strong>Credit</strong> Controllers can manage more<br />

accounts with better results and customers can self-serve on<br />

mobile-responsive portals where they can query, pay, download<br />

and view invoices and related documentation e.g. Proofs of<br />

Delivery Corrivo is the only AR platform with integrated invoice<br />

finance options for both buyer and supplier that flexes credit<br />

terms without degrading DSO. Call for a demo.<br />


T: 020 3966 8324<br />

E: edan.milner@onguard.com<br />

W: www.onguard.com<br />

VISMA | Onguard is a specialist in credit management software<br />

and market leader in innovative solutions for order-to-cash. Our<br />

integrated platform ensures an optimal connection of all processes<br />

in the order-to-cash chain. This enhanced visibility with the secure<br />

sharing of critical data ensures optimal connection between all<br />

processes in the order-to-cash chain, resulting in stronger, longerlasting<br />

customer relationships through improved and personalised<br />

communication. The VISMA | Onguard platform is used for<br />

successful credit management in more than 70 countries.<br />


T: +44 (0)1246 555055<br />

E: info@forumsinternational.co.uk<br />

W: www.forumsinternational.co.uk<br />

Forums International Ltd have been running <strong>Credit</strong> and Industry<br />

Forums since 1991. We cover a range of industry sectors and<br />

International trading, attendance is for <strong>Credit</strong> Professionals of all<br />

levels. Our forums are not just meetings but communities which<br />

aim to prepare our members for the challenges ahead. Attending<br />

for the first time is free for you to gauge the benefits and meet the<br />

members and we only have pre-approved Partners, so you will<br />

never intentionally be sold to.<br />

Cr£ditWho?<br />

CI<strong>CM</strong> Directory of Services<br />

Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 57

Cr£ditWho?<br />

CI<strong>CM</strong> Directory of Services<br />



paul@centuryone.uk 01727 739 196<br />




Menzies<br />

T: +44 (0)2073 875 868 - London<br />

T: +44 (0)2920 495 444 - Cardiff<br />

W: menzies.co.uk/creditor-services<br />

Our <strong>Credit</strong>or Services team can advise on the best way for you<br />

to protect your position when one of your debtors enters, or<br />

is approaching, insolvency proceedings. Our services include<br />

assisting with retention of title claims, providing representation<br />

at creditor meetings, forensic investigations, raising finance,<br />

financial restructuring and removing the administrative burden<br />

– this includes completing and lodging claim forms, monitoring<br />

dividend prospects and analysing all Insolvency Reports and<br />

correspondence.<br />

For more information on how the Menzies <strong>Credit</strong>or Services<br />

team can assist, please contact Bethan Evans, Licensed<br />

Insolvency Practitioner, at bevans@menzies.co.uk or call<br />

+44 (0)2920 447 512.<br />

LEGAL<br />

Shoosmiths<br />

Email: paula.swain@shoosmiths.co.uk<br />

Tel: 03700 86 3000 W: www.shoosmiths.co.uk<br />

Shoosmiths’ highly experienced team will work closely with credit<br />

teams to recover commercial debts as quickly and cost effectively<br />

as possible. We have an in depth knowledge of all areas of debt<br />

recovery, including:<br />

•Pre-litigation services to effect early recovery and keep costs<br />

down<br />

•Litigation service<br />

•Post-litigation services including enforcement<br />

•Insolvency<br />

As a client of Shoosmiths, you will find us quick to relate to your<br />

goals, and adept at advising you on the most effective way of<br />

achieving them.<br />

Bottomline Technologies<br />

115 Chatham Street, Reading<br />

Berks RG1 7JX | UK<br />

T: 0870 081 8250 E: emea-info@bottomline.com<br />

W: www.bottomline.com/uk<br />

Bottomline Technologies (NASDAQ: EPAY) helps businesses<br />

pay and get paid. Businesses and banks rely on Bottomline for<br />

domestic and international payments, effective cash management<br />

tools, automated workflows for payment processing and bill<br />

review and state of the art fraud detection, behavioural analytics<br />

and regulatory compliance. Businesses around the world depend<br />

on Bottomline solutions to help them pay and get paid, including<br />

some of the world’s largest systemic banks, private and publicly<br />

traded companies and Insurers. Every day, we help our customers<br />

by making complex business payments simple, secure and<br />

seamless.<br />

Key IVR<br />

T: +44 (0) 1302 513 000 E: sales@keyivr.com<br />

W: www.keyivr.com<br />

Key IVR are proud to have joined the Chartered Institute of<br />

<strong>Credit</strong> <strong>Management</strong>’s Corporate partnership scheme. The<br />

CI<strong>CM</strong> is a recognised and trusted professional entity within<br />

credit management and a perfect partner for Key IVR. We are<br />

delighted to be providing our services to the CI<strong>CM</strong> to assist with<br />

their membership collection activities. Key IVR provides a suite<br />

of products to assist companies across the globe with credit<br />

management. Our service is based around giving the end-user<br />

the means to make a payment when and how they choose. Using<br />

automated collection methods, such as a secure telephone<br />

payment line (IVR), web and SMS allows companies to free up<br />

valuable staff time away from typical debt collection.<br />

Hays <strong>Credit</strong> <strong>Management</strong><br />

107 Cheapside, London, EC2V 6DN<br />

T: 07834 260029<br />

E: karen.young@hays.com<br />

W: www.hays.co.uk/creditcontrol<br />

Hays <strong>Credit</strong> <strong>Management</strong> is working in partnership with the CI<strong>CM</strong><br />

and specialise in placing experts into credit control jobs and<br />

credit management jobs. Hays understands the demands of this<br />

challenging environment and the skills required to thrive within<br />

it. Whatever your needs, we have temporary, permanent and<br />

contract based opportunities to find your ideal role. Our candidate<br />

registration process is unrivalled, including face-to-face screening<br />

interviews and a credit control skills test developed exclusively for<br />

Hays by the CI<strong>CM</strong>. We offer CI<strong>CM</strong> members a priority service and<br />

can provide advice across a wide spectrum of job search and<br />

recruitment issues.<br />



Portfolio <strong>Credit</strong> Control<br />

1 Finsbury Square, London. EC2A 1AE<br />

T: 0207 650 3199<br />

E: recruitment@portfoliocreditcontrol.com<br />

W: www.portfoliocreditcontrol.com<br />

Portfolio <strong>Credit</strong> Control, a 5* Trustpilot rated agency, solely<br />

specialises in the recruitment of Permanent, Temporary & Contract<br />

<strong>Credit</strong> Control, Accounts Receivable and Collections staff<br />

including remote workers. Part of The Portfolio Group, an awardwinning<br />

Recruiter, we speak to <strong>Credit</strong> Controllers every day and<br />

understand their skills meaning we are perfectly placed to provide<br />

your business with talented <strong>Credit</strong> Control professionals. Offering<br />

a highly tailored approach to recruitment, we use a hybrid of faceto-face<br />

and remote briefings, interviews and feedback options.<br />

We provide both candidates & clients with a commitment to deliver<br />

that will exceed your expectations every single time.<br />


American Express<br />

76 Buckingham Palace Road,<br />

London. SW1W 9TQ<br />

T: +44 (0)1273 696933<br />

W: www.americanexpress.com<br />

American Express is working in partnership with the CI<strong>CM</strong> and is a<br />

globally recognised provider of payment solutions to businesses.<br />

Specialising in providing flexible collection capabilities to drive a<br />

number of company objectives including:<br />

• Accelerate cashflow • Improved DSO • Reduce risk<br />

• Offer extended terms to customers<br />

• Provide an additional line of bank independent credit to drive<br />

growth • Create competitive advantage with your customers<br />

As experts in the field of payments and with a global reach,<br />

American Express is working with credit managers to drive growth<br />

within businesses of all sectors. By creating an additional lever<br />

to help support supplier/client relationships American Express is<br />

proud to be an innovator in the business payments space.<br />

Cr£ditWho?<br />

CI<strong>CM</strong> Directory of Services<br />

YayPay by Quadient<br />

T: + 44 (0) 7465 423 538<br />

E: r.harash@quadient.com<br />

W: www.yaypay.com<br />

YayPay by Quadient makes it easy for B2B finance teams to stay<br />

ahead of accounts receivable and get paid faster – from anywhere.<br />

Integrating with your existing ERP, CRM, accounting and billing<br />

systems, YayPay organizes and presents real-time data through<br />

meaningful, cloud-based dashboards. These increase visibility<br />

across your AR portfolio and provide your team with a single<br />

source of truth, so they can access the information they need to<br />

work productively, no matter where they are based.<br />

Automated capabilities improve team efficiency by 3X and<br />

accelerate the collections process by making communications<br />

customizable and consistent. This enables you to collect cash<br />

up to 34 percent faster and removes the need to add additional<br />

resources as your business grows.<br />

Predictive analytics provide insight into future payer behavior to<br />

improve cash flow management and a secure, online payment<br />

portal enables customers to access their accounts and pay at any<br />

time, from anywhere.<br />


25 Canada Square<br />

London, GB E14 5LQ<br />

T: +447730500085<br />

E: getinfo@fisglobal.com.<br />

W: www.fisglobal.com<br />

The award-winning FIS GETPAID solution is a fully integrated,<br />

web-based order-to cash (O2C) solution that helps companies<br />

improve operational efficiencies, lower DSO, and increase cash<br />

flow. GETPAID provides process automation, artificial intelligence,<br />

and workflow across the O2C cycle, with detailed analysis and<br />

reporting for accurate cash forecasting. FIS is a global leader in<br />

financial services technology that empowers the financial world.<br />

For more information visit https://www.fisglobal.com/en/cashflowand-capital/credit-and-collections<br />

or email getinfo@fisglobal.com.<br />





paul@centuryone.uk 01727 739 196<br />

Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 58

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Ceeeeeeeerrrrttttttttiiiiiffffiiiiicccaaaaatttttttteeeeeeee<br />

Nuummmbeeeeeeeerrrr<br />

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T}| trrrrooooouuup unnnnnttttttteeeeeeeerrrrnnnnnaaaaaatttttttiiiiiiiooooonnnnnaaaaaallll eeeeeeeehhhhfff.<br />

Daaaaatttttttteeeeeeee ooooffff ttttttttheeeeeeee Peeeeeeeennnneeeeeeeettttttttrrrraaaaattttttttiiiiioooonnnn Teeeeeeeestttttttt<br />

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Daaaaatttttttteeeeeeee ooooffff ttttttttheeeeeeee nnnneeeeeeee–tttttttt Peeeeeeeennnneeeeeeeettttttttrrrraaaaattttttttiiiiioooonnnn Teeeeeeeestttttttt<br />

00008ttttttthhhh ooooofff uuuguuusssssssttttttt 2220000222<br />

Heeeeaad oooff Prroooffeeeessssiiooonaal Seeeerr viiceeees<br />

Raazvaannn-Coosstinnn<br />

Ioonnnesscu<br />

www.tcmgroup.com<br />

Probably thebest debt collection network worldwide<br />

Razvan-Costin<br />

Ionescu<br />

Semnat digital de Razvan-<br />

Costin Ionescu<br />

Data: <strong>2022</strong>.08.08 18:47:58<br />

+03'00'<br />

Moneyknows no borders—neither do we<br />

Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 59

Protect your<br />

cash flow<br />

Efficient credit management is key to maintaining your<br />

business cashflow. Avoid common credit management<br />

frustrations such as:<br />

Difficultly accessing accurate customer credit data<br />

Complicated payment collection processes<br />

Pressure for speedy processing<br />

£<br />



Use our guide to see how<br />

to protect your business<br />

yaypay.com<br />

Brave | Curious | Resilient / www.cicm.com / <strong>September</strong> <strong>2022</strong> / PAGE 60

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