CM September 2022 Credit Management

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Handling 

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Sean Feast FCICM speaks 

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What leaders need to consider 

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28 

SUICIDE WATCH 

Sean Feast FCICM 

and Mel York 

CICM GOVERNANCE 

46 

FLEXIBLE THINKING 

Simona Scarpaleggia 

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

area, and click on the tab labelled ‘Credit Management magazine’ 

Credit Management is distributed to the entire UK and international CICM 

membership, as well as additional subscribers 

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

not, unless stated, reflect those of the Chartered Institute of Credit Management. The Editor reserves the right to 

abbreviate letters if necessary. The Institute is registered as a charity. The mark ‘Credit Management’ is a registered 

trade mark of the Chartered Institute of Credit Management. 

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

11 

BREATHE AGAIN 

Ed McDonagh 

President Stephen Baister FCICM / Chief Executive Sue Chapple FCICM 

Executive Board: Chair Debbie Nolan FCICM(Grad) / Vice Chair Phil Rice FCICM / Treasurer Glen Bullivant FCICM 

Larry Coltman FCICM / Victoria Herd FCICM(Grad) / Philip Holbrough MCICM 

Advisory Council: Caroline Asquith-Turnbull FCICM / Laurie Beagle FCICM / Glen Bullivant FCICM /Brendan Clarkson FCICM 

Larry Coltman FCICM / Peter Gent FCICM(Grad) / Victoria Herd FCICM(Grad) / Andrew Hignett MCICM(Grad) 

Dave Hindle FCICM / Laural Jefferies FCICM / Neil Jinks FCICM / Martin Kirby FCICM / Charles Mayhew FCICM / Hans Meijer 

FCICM / Debbie Nolan FCICM(Grad) / Amanda Phelan MCICM(Grad) / Allan Poole MCICM / Phil Rice FCICM / 

Phil Roberts FCICM / Chris Sanders FCICM / Paula Swain FCICM / Mark Taylor MCICM / Atul Vadher FCICM(Grad) 

SEPTEMBER 2022 

www.cicm.com 

CONTENTS 

11 – BREATHE AGAIN 

Breathing space appears to be working, 

but there’s room for improvement. 

12 – MOVE FORWARD 

Profile on the new CICM HQ and 

members’ centre in Peterborough. 

16 – KNOCK KNOCK 

Sean Feast speaks to Steve Coppard 

about a life in public sector debt. And 

Punk Rock. 

22 – SHAPING THE FUTURE 

The CICM Advisory Council has several 

new members. 

28 – SUICIDE WATCH 

How are DCAs managing the impact of 

distressing calls on their staff? 

34 – TAKING THE REGISTER 

Nick Leader considers how to tackle 

fraud through better information. 

36 – LIFE SUPPORT 

A new campaign is underway to 

improve accessibility to essential 

services for disabled consumers. 

42 – BUNCH OF FIVES 

Andrew Lilley of Blackline considers 

the key issues in successfully 

managing cashflow over the next five 

years. 

45 – COME FLY WITH ME 

How is the aviation industry coping 

with the current crisis? 

46 – FLEXIBLE THINKING 

Why leaders should embrace the 

concept of hybrid working. 

Publisher 

Chartered Institute of Credit Management 

1 Accent Park, Bakewell Road, Orton Southgate, 

Peterborough PE2 6XS 

Telephone: 01780 722900 

Email: editorial@cicm.com 

Website: www.cicm.com 

CMM: www.creditmanagement.org.uk 

Managing Editor 


Deputy Editor 

Iona Yadallee 

Art Editor 

Andrew Morris 

Telephone: 01780 722910 

Email: andrew.morris@cicm.com 

Editorial Team 

Imogen Hart, Rob Howard, Natalie Makin, 

Laura Rhodes, Sam Wilson and Mona Yazdanparast 

Advertising 

Paul Heitzman 

Telephone: 01727 739 196 

Email: paul@centuryone.uk 

Printers 

Stephens & George Print Group 

2022 subscriptions 

UK: £112 per annum 

International: £145 per annum 

Single copies: £12.50 

ISSN 0265-2099 

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

EDITOR’S COLUMN 

Banks, bad guys and BBLs 


Managing Editor 

❝ 

They are riding off 

into the sunset with their 

ill-gotten gains without 

a care in the world, and 

leaving you, me and the 

rest of society to foot the 

bill. 

❝ 

YOU feel it could be the gift 

that keeps giving. And that’s 

probably how some businesses 

viewed Government 

support during COVID. A 

headline on the BBC at the 

beginning of August told of thousands of 

small firms going bust owing millions in 

bounce back loans (BBLs). It also spoke of 

hundreds of directors who received loans 

they were not entitled to, had now been 

disqualified. 

The numbers, to lob in a cliché or two, 

are eye watering, and could cost the tax 

payer anything up to £4bn. A total of £47bn 

was loaned out, each company being 

able to apply for a loan of up to £50,000 

with only the minimum of checks in 

place. Indeed, applicants were allowed to 

self-certify. 

The majority of businesses that have 

since gone bust did so for legitimate 

reasons and the individuals concerned 

have our every sympathy and need to be 

supported. But by no means all. 

Peter Ferguson is one example quoted – 

a man who over-stated his firm’s turnover 

to access a loan for a dormant company 

and bought two cars with the cash. He’s 

been banned from being a company 

director for six years, and yet still has 

significant control over another business 

in the events and hospitality world. 

Under the terms of the bounce back 

loan, it is the dormant company and not 

Ferguson personally that is responsible 

for paying back what’s owed. The rules 

state that if there is no money left in the 

business, then the loan cannot be paid 

back. This is despite the fact – and I kid you 

not – that not long after his company failed, 

he won £200,000 at a Casino in Vegas! 

This has to be nonsense. Here we have 

a man, who clearly has the personal 

means to pay, but under the terms of the 

agreement will walk away from this scot 

free. Money that is won or inherited, or 

acquired through a successful venture 

in another name (without a personal 

guarantee) cannot be touched; it is the 

protection every director has from personal 

liability under English Company law. He 

and hundreds like him will therefore brush 

off their disqualifications like swatting a fly 

off their arms, and pretty much carry on as 

usual. 


THE BANKING VIEW 

So what do the High Street banks who 

provided the majority of the loans think 

about all this? And do they think, just as 

a slightly crazy thought of mine, that the 

likes of Ferguson and his kind deserve to 

be treated to the same courtesies as you or 

I, should we fall on hard times? 

I’d like to give you the answer but 

approaches to Santander, HSBC, RBS, 

Lloyds and others didn’t get me very far. 

Indeed, they didn’t even acknowledge my 

request, which was a little rude. Clearly, 

I am not important enough and/or they 

are just jolly busy. I’ve worked in a press 

office for one of the High Street banks 

and it can get a little mad, though I always 

think I said something to everybody, even 

if it wasn’t much. 

Barclays did me the courtesy of coming 

back to me to say they didn’t comment 

on such matters beyond taking fraud 

extremely seriously (I should hope so 

– they’ve got my money) and I should 

head to the British Business Bank for 

an industry view. The British Business 

Bank also came back to me and pointed 

me in the direction of UK Finance. UK 

Finance said they’d come back to me and 

subsequently pointed me in the direction 

of the FCA. Which is a shame, as it makes 

it look like they don’t care when I’m sure 

they must. 

Only NatWest actually addressed the 

question directly, albeit to say that they 

treat ALL BBLS borrowers fairly ‘whilst also 

protecting the integrity of the scheme and 

therefore will investigate any fraudulent 

or criminal issues, in partnership with 

the National Crime Agency (NCA), the 

police, and the relevant authorities.’ 

A spokesperson also told me that 

NatWest continues to work with its 

colleagues, other banks, industry 

bodies, law enforcement, regulators, and 

Governments to help find collaborative 

solutions to this shared challenge. These 

partnerships, it believes, are crucial to 

counter the significant and evolving 

threat of financial crime to society. 

Heady stuff, but I’m not sure it’s taking 

us very far. Directors who knowingly took 

out loans by deception are surely not 

deserving of the protections or niceties 

of Treating Customers Fairly, even if they 

play the ‘vulnerability’ card. But since 

they are not personally liable anyway, 

who cares? They are riding off into the 

sunset with their ill-gotten gains without 

a care in the world, and leaving you, me 

and the rest of society to foot the bill. 

But surely there is a case that Ferguson 

and his like should be personally 

liable? Why should they be afforded the 

protection of operating within a limited 

company? These are not innocent victims 

of a cruel world. They are cruel world 

exemplars of a crime that is neither 

innocent, nor victimless. 

HARD DONE BY 

So, do we think the banks will really 

come down hard on those who have 

diddled them out of the money they have 

borrowed? Perhaps they will when the 

BBB refuse to refund a growing volume of 

guarantee claims, which will surely come 

about. And let’s remember that the banks 

(albeit they are ignoring me) are not the 

bad guys here. They were compelled 

by the Government, the media, and the 

weight of public opinion to get funds out 

of the door a toute vitesse. Due diligence 

and usual prudence could come later, if at 

all. And yet now they are being lambasted 

for it. 

But the whole saga is a reputational 

minefield. I don’t expect any of the banks 

to break ranks any time soon. Better hide 

behind an industry body in the short 

term, as they seem to be doing. To go 

after the bad guys runs the risk of being 

seen to be aggressive – even after the 

first BBL fraudster has been jailed – and 

the banks are still licking their wounds 

from a decade or so ago. I can hear their 

advisors, senior executives and investor 

relations people now shouting ‘never 

again’! 

Which is a pity. Because this is one of 

the few occasions where the banks being 

seen to be tough – and actually acting 

tough – will be applauded. And let us hope 

that when the Ferguson’s of this world go 

squealing to the National press about how 

beastly their treatment has been, we all 

raise a collective glass to the banks for a 

job well done. 


CMNEWS 

A round-up of news stories from the 

world of consumer and commercial credit. 

THE war in Ukraine, 

lingering lockdown 

restrictions and multidecade 

high inflation are 

continuing to negatively 

impact the global 

economy. 

Global GDP is expected to decrease 

through to 2023 as inflation restricts 

consumer spending and supply-chain 

issues limit trade. Despite global GDP 

recovering to 5.9 percent in 2021, 

growth is predicted to decrease to 3.1 

percent in 2022 and slow to a further 3.0 

percent by 2023. 

The same story applies among the 

advanced economies, where GDP 

growth is expected to slow to 2.7 

percent in 2022 and 2.1 percent in 2023. 

Surging inflation driven by Europe’s 

high energy prices and supply-demand 

imbalances in the US are both cited 

Written by – Sean Feast FCICM 

UK growth forecast to be one of 

the worst for advanced economies 

as key factors in the latest Economic 

Outlook from trade credit insurer, 

Atradius. Meanwhile, in the UK, growth 

forecasts paint an even bleaker picture. 

Atradius predicts the UK’s growth to 

be 3.6 percent in 2022, followed by 1.3 

percent in 2023, making it one of the 

worst performing advanced economies. 

According to the report, pressure on 

British households is at an all-time 

high, with real household incomes 

expected to fall by 2.2 percent in 2022, 

the largest decrease since records 

began in 1955. 

Atradius’ GDP growth predictions for 

emerging market economies (EMEs) 

are the least promising. Forecast to be 

nearly halved in 2022 to 3.5 percent, 

down from 6.9 percent in 2021. 

James Burgess, Head of Commercial 

at Atradius UK & Ireland, says that the 

global recovery from the pandemic 

is set to be a gradual one thanks to 

a new set of adverse shocks: “After a 

relatively healthy start to 2022, Russia’s 

invasion of Ukraine and the subsequent 

sanctions have quickly stunted 

growth. Ongoing supply bottlenecks, 

geopolitical turmoil in Eastern Europe, 

and rampant inflation continue to 

mount, making it incredibly difficult for 

any global country to plan ahead and 

navigate a safe and steady future. 

“Businesses wanting to survive 

2022/23 must keep an eye on the 

economic performance of all global 

markets, and the easiest way to do this 

is by investing in trade credit 

insurance. Access to robust business 

intelligence and expert insight into 

market performance is key and can 

help businesses mitigate risk and build 

solid foundations for international 

trade.” 

iwoca SME Expert Index shows 

demand for funding increases 

SMALL business owners are more 

concerned than ever about the 

possibility of a recession, according 

to iwoca’s latest quarterly SME Expert 

Index, which means demand for 

finance has increased. 

With both the cost of living and the 

cost of doing business climbing, over 

three quarters of brokers surveyed 

(77 percent) say their small business 

clients are worried about the possibility 

of a recession. By contrast, fewer than 

seven percent of brokers reported their 

SME clients as ‘unconcerned’. 

iwoca’s Q2 2022 SME Expert Index 

is based on insight from UK brokers 

who collectively submitted over 1350 

applications for unsecured finance on 

behalf of their SME clients in June. 

The survey suggests that as small 

businesses face mounting economic 

uncertainty, their demand for finance 

has risen sharply. Almost half of 

brokers (46 percent) submitted more 

loan applications for small business 

financing in the last month compared 

to the one previous – a continuation of 

an upwards trend since the end of last 

year, with 28 percent citing the same 

in Q4 2021, and 34 percent reporting 

increased loan demand in Q1 2022. 

Not a single broker said they had seen 

fewer applications. 

The survey also suggests that small 

businesses are looking for larger loans 

in light of the turbulent economic 

forecast. Over one in eight brokers (13 

percent) identified £200,000+ loans as 

most sought after for small businesses, 

the highest proportion since the Index 

was first released. Looking back at this 

trend, demand for loans valued above 

£200,000 has steadily increased since 

iwoca’s first Index in Q1 2021 when only 

four percent of brokers reported these 

larger loans as the most commonly 

requested. 

iwoca recently announced that it is 

more than doubling the maximum size 

of its core lending product, Flexi-Loan, 

allowing small business owners to 

access business loans up to £500,000, 

up from a previous lending cap of 

£200,000. 


Corporate insolvencies rise 

to highest level in a decade 

CORPORATE insolvencies 

rose 12.7 percent between 

April – June 2022 when 

compared to the previous 

quarter and increased 

by 81.3 percent from 

the corresponding period in 2021, 

according to figures published last 

month by the Insolvency Service. 

Personal insolvencies in England 

and Wales saw a quarterly decrease but 

rose by 6.5 percent from the same time 

last year. 

Christina Fitzgerald, President 

of insolvency and restructuring 

trade body R3, says that corporate 

insolvencies have now risen to their 

highest level since 2012: “The figures 

have been driven by an increase in 

all forms of insolvency process – but 

Creditors’ Voluntary Liquidations 

(CVLs) have peaked to their highest 

recorded figure of 4,908, suggesting 

that many directors are opting to 

close their businesses as they lack 

confidence in their trading prospects in 

the current climate. 

“The steady rise in Compulsory 

Liquidations we’ve seen since the start 

of the year also suggests that creditors 

are now making use of their power to 

issue winding-up petitions to try and 

claw back monies they are owed.” 

Christina says the current economic 

headwinds are only likely to get worse 

before they get better, and this will 

mean businesses in England and 

Wales will have a tough second-half of 

the year: “With household disposable 

income dropping for the eighth 

consecutive month in June, consumers 

are having to prioritise household bills 

before they can think about spending 

their money elsewhere – and this will 

have a knock-on effect to businesses 

that simply won’t see the footfall they 

are used to. 

“This, coupled with a combination of 

soaring costs across the board, supply 

chain issues, and a tight labour market, 

has meant an uphill battle for many 

businesses, especially for those still 

reeling from the pandemic. 

"For company directors concerned 

about their prospects in the months 

NEWS ROUNDUP 

ahead, now is the time to make sure 

they have a clear plan in place for the 

future. The economy is particularly 

fragile at the moment and businesses 

should be prepared for this to 

deteriorate as we enter the second 

half of the year. I would urge company 

directors to understand how to spot 

the first signs of business distress 

and to seek advice from a qualified 

professional as soon as they become 

concerned.” 

❝ 

“The steady rise in 

Compulsory Liquidations we’ve 

seen since the start of the year 

also suggests that creditors are 

now making use of their power 

to issue winding-up petitions to 

try and claw back monies they 

are owed.” 

❝ 

The quarterly fall in personal 

insolvencies is down to a reduction 

in bankruptcies, Debt Relief Orders 

(DROs) and Individual Voluntary 

Arrangements (IVAs). However, 

personal insolvency levels are still 

higher than they were a year ago. 

“DRO figures have increased by 32 

percent from the same time last year 

– and this has been mirrored by a 31 

percent reduction in bankruptcies,” she 

continues. “This suggests that those 

with lower levels of debt and assets are 

facing the pinch at the moment, rather 

than those with businesses and larger 

mortgages, who are more likely to use 

the bankruptcy process to deal with 

their financial problems. “With inflation 

continuing to climb and the energy 

price cap due to rise again in October, 

people are rightfully concerned about 

their finances and are managing their 

budgets accordingly,” she continues. 

“But price increases across the 

board mean that the impacts are being 

felt differently by different types of 

consumers. For those on the lower end 

of the income scale, budgeting can only 

stretch so far and it is worrying that 

for some, credit cards and other types 

of debt may feel like the only option to 

cover even the essentials.” 

Samantha Keen, UK Turnaround 

and Restructuring Strategy Partner at 

EY-Parthenon, says that the outlook for 

further corporate insolvencies is bleak: 

“The record levels of CVLs are the first 

tranche of insolvencies we expected 

to see involving companies that 

have struggled to stay viable without 

the lifeline of government support 

provided over the pandemic. We 

expect further insolvencies in the year 

ahead among larger businesses who 

are struggling to adapt to challenging 

trading conditions, tighter capital, and 

increased market volatility.” 

EY-Parthenon’s latest Profit 

Warnings analysis found that warnings 

from UK-listed companies increased 

66 percent year-on-year in H1 2022 

with over half (58 percent) citing 

rising costs: “As profit warnings 

increase, we’re seeing more companies 

issue multiple warnings with many 

approaching the ‘three warning 

rule’ where, on average, one-in-five 

companies delist within a year of their 

third warning, most due to insolvency,” 

she continues. 

“While many companies have been 

grappling with rising costs and supply 

chain issues in the first half of the 

year, falling consumer confidence 

and demand is likely to be the next 

significant headwind.” 

The recent EY ITEM Club Summer 

Forecast downgraded consumer 

spending growth for 2022 to 4.1 percent, 

down from the 4.9 percent expected in 

early February: “The impact from the 

slowdown in consumer spending is 

likely to be felt in the autumn, just as 

many retail and hospitality businesses 

gear up for the all-important ‘golden 

quarter’. These businesses, which 

are highly sensitive to fluctuations 

in consumer demand, will be most 

vulnerable.” 

❝ 

“While many companies have been grappling with rising costs and supply chain 

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

be the next significant headwind.” 


NEWS ROUNDUP 

Small businesses continue 

to be squeezed for ‘free credit’ 

FIGURES from the Federation 

of Small Businesses (FSB) 

and reported in The Times 

show that between April and 

June 2022, half of the 1,300 

small business owners and 

sole traders surveyed for its quarterly 

research reported being paid late, while 

one in five said the issue was getting 

worse. 

To address the challenge, Craig 

Beaumont, Chief of External Affairs at 

the FSB, says the Government needs 

to use both carrot and stick: “There 

must be a mix of positive and negative 

actions to make a real difference to the 

UK’s poor payment culture,” he says. 

“Otherwise, we will continue as we are.” 

His comments coincide with 

rumours that the existing Prompt 

Payment Code will soon finally 

be revised as large businesses 

continue to squeeze their smaller 

suppliers for what amounts 

to ‘free credit’. Fresh powers 

proposed in October 2020 

for the small business 

commissioner, who 

intervenes and mediates 

on payment disputes 

when invited, have yet 

UK businesses are on aggregate 

holding firm on last year’s position and 

signing a comparable number of new 

deals to lease essential equipment. 

From tractors and plant machinery, 

photocopiers and laptops, figures were 

almost like for like when measured 

against the second quarter of 2021, 

according to the latest index from 

Acquis, an insurance products and 

services provider to the European 

finance and leasing industry. 

The Acquis Index is described as 

a leading economic indicator of how 

much equipment UK companies lease, 

and how for long. Published quarterly, 

the latest edition reveals that overall, 

new leases signed by UK companies 

during the second quarter of 2022 

have grown 1.6 percent compared to 

the same period last year. However, 

growth is still only 6.3 percent higher 

than that of June 2020 during 

the middle of the pandemic, 

suggesting a sluggish recovery. 

New leases in the EU are 

to be acted upon (see interview with Liz 

Barclay July-August issue). 

Sue Chapple FCICM, Chief Executive 

of the Chartered Institute of Credit 

Management (CICM), says that best 

practice credit management is more 

important than ever: “There are no 

doubt challenges, and the FSB is right to 

highlight the late payment issue. 

“But what we really need to focus on 

is the positive action that many SMEs 

can be taking in helping themselves 

to get paid by agreeing terms and 

conditions upfront, invoicing promptly 

and accurately, and picking up the 

phone and talking with customers 

to head off any problems before they 

occur. 

“Of course the Government 

can always do more, and further 

revisions to the Prompt Payment 

Code would be welcome, but some 

aspects of late payment are in the 

hands of the suppliers, and our 

members and our Institute are 

ready to help wherever we 

can.” 

Anthony Persse, Chief 

Executive of Saltare, an 

early payment solution, 

says there is no doubt the 

UK businesses still love a lease 

down 33.1 percent. 

Biggest demand appears to 

come from both the restaurant 

and retail sectors. James Rudolf, 

Chief Commercial Officer, at Acquis 

Insurance, says that while UK 

business is holding firm, it may not 

continue: “Against such oppressive 

economic conditions, we may start 

to see management teams grow 

more reluctant to sign new deals to 

lease equipment that is vital to their 

operations, staff retention and growth 

prospects, as business confidence 

is dented and costs start to bite,” he 

explains. 

situation is getting worse: “UK SMEs are 

already under incredible pressure as a 

result of rising inflation, fuel increases 

and impending recession, so more 

than ever cashflow is vitally important 

to ensure that they can weather the 

storm,” he says. Saltare recently signed 

a new partnership with the Smart 

Manufacturing Alliance (SMA) to help 

manufacturers across Cambridgeshire 

and Peterborough take greater control of 

their cashflow. Saltare’s digital products 

incentivise early payments and let both 

suppliers and customers know when 

invoices will be paid. This gives SMEs 

more certainty over their cashflow and 

strengthens relationships across the 

supply chain. 

Bob Hart, Programme Director at 

the SMA, says that he hopes Saltare’s 

payment platforms will help businesses 

free up resources and invest more into 

innovation, job creation, and growth: 

“Giving our members quick and simple 

payment systems like Early Pay not 

only safeguards their cashflow, but 

could help them divert more resources 

into innovative projects, new tech 

and equipment, and create more 

opportunities for staff to develop their 

skillsets.” 

❝ 

“Yet there are some positive 

signs that growth has continued 

throughout the second quarter 

of 2022, albeit at a slower rate 

than hoped. Restaurants and 

retail outlets are one sector 

that is clearly still investing – 

hopeful they can combat a costof-living 

crisis that is already 

seeing UK families reduce 

discretionary spending.” 

❝ 


NEWS ROUNDUP 

CSA urges HM Treasury to 

prioritise modernisation of 

consumer credit regulations 

THE Credit Services 

Association (CSA), the 

UK trade body for the 

debt collection and debt 

purchase industry, has 

cautiously welcomed the 

Government's recent 

announcement of its 

intention to reform and 

modernise the now 

almost 50-year-old 

Consumer Credit Act. 

In a new report 

published last month, 

the trade body highlights 

the mismatch between 

the requirements of the 

existing legislation and 

the needs of modern 

society and business, 

calling on new Treasury 

Ministers to prioritise 

reforms. 

Chris Leslie, Chief 

Executive of the CSA, says that the 

Government needs to deliver on its 

promise: “We have been down this 

road of promises and expectations 

before,” he warns. “With the roll out 

of the Financial Conduct Authority’s 

‘Consumer Duty’ imminent, it is more 

important than ever that this dated 

legislation is finally modernised. We 

would urge the future Treasury team to 

recognise the importance of aligning 

with this.” 

The CSA’s report entitled 

‘Modernising Consumer Protection: 

The Case for Reforming and Updating 

the Consumer Credit Act (CCA)’ 

recommends the Treasury sets out a 

detailed consultation timetable so that 

changes are introduced before the end 

of 2023 to avoid undermining the FCA’s 

obligation to introduce a Consumer 

Duty. 

The report also recommends reform 

of consumer credit communications 

and suggests that the review looks 

strategically at the genuine needs of 

modern consumers. Report author 

Henry Aitchison, Head of Policy at 

the CSA, says it is important that 

we move away from the current 

approach of treating all customers 

identically and simply grafting 

antiquated requirements blindly onto 

new iterations of regulation: “It has 

been widely recognised for many 

years now that some post-contractual 

information requirements never 

provided the information or accuracy 

that consumers actually need, while at 

the same time managing to undermine 

businesses’ attempts to work with their 

customers,” he explains. 

“Slapping a bandage 

on already faulty 

requirements by 

suggesting yet more 

paperwork to explain 

failing regulations isn’t 

going to cut it, if we 

are serious about the 

Consumer Duty.” 

The report also draws 

out the importance 

of policymakers 

recognising the 

environmental impacts 

of their demands. The 

current approach to 

regulation demands 

vast quantities of paper 

to be posted to borrowers, and often 

even when circumstances such as 

the exercise of forbearance makes 

the mandated information factually 

inaccurate. The report suggests that 

some of the existing statutory notices 

could easily result in producing a 

carbon footprint of at least 1.3 million 

kg, consume 1,680 trees and use 420 

thousand kWh of energy – just to 

provide inaccurate but compulsory 

information! 

CSA CEO Chris Leslie wants 

Treasury Ministers to pick up the 

baton: “They must set out a timetable 

now to fulfil the legislative reform 

commitment. Comprehensible and 

joined-up consumer regulation 

demands nothing less.” 

❝ 

“Slapping a bandage on 

already faulty requirements by 

suggesting yet more paperwork 

to explain failing regulations 

isn’t going to cut it, if we are 

serious about the Consumer 

Duty.” 

❝ 

>NEWS 

IN BRIEF 

CoCredo Celebrates 

20th Anniversary 

COCREDO, one of the country’s 

leading specialists in providing online 

company credit reports and related 

business information, celebrated its 

20th Anniversary last month with 

a party at Missenden Abbey. Dan 

Hancocks, Managing Director, says 

he is extremely proud of what the 

company has achieved in two decades 

of business. “I always wanted to build 

a family atmosphere within the team 

and with all of us coming together to 

celebrate, it feels very special,” he said. 

On Target 

TARGET Group, the operational 

transformation, business processing 

and software provider has promoted 

Mark Gilliver to Chief Growth Officer. 

Gilliver will be responsible for 

setting the firm’s growth strategy and 

executing Target Group's three- to 

five-year growth plan. He will head a 

team of colleagues covering business 

development, solutions and bid 

disciplines. 

Senior hire 

EQUIFAX, leading global data, 

analytics, and technology company, 

has appointed Stéphane Dubois 

as Senior Finance Officer for 

Europe. With more than 20 years' 

leadership experience, Stéphane is 

said to have a proven track record 

for delivering profitable growth, 

strategy development and change 

management. Stéphane joins Equifax 

from Dutch manufacturing company 

AkzoNobel, where he spent three years 

as Head of Finance Transformation. 

The sky’s the limit 

MARGARET Dunsmore FCICM, Senior 

Finance Manager at Skyscanner, 

hosted Karen Tuffs, FCICM(Grad), 

Head of Accreditation, at their office 

in Glasgow last month. Margaret 

was delighted to receive the CICM’s 

prestigious CICMQ award on behalf of 

her team following accreditation in 

June 2021. The Collections and Partner 

Risk Squad were instrumental in 

helping Skyscanner navigate through 

the COVID-19 crisis, supporting their 

key partners – the airlines and travel 

agents. Margaret says the business is 

now seeing higher revenue than the 

pre-pandemic period and they are now 

busy assisting their partners with the 

Qatar World Cup bookings. 


CICMQ 

A lesson in quality 

BEV Ewens-Davey, CICM Head of Transformation, joined Gavin Jones FCICM, Head of Income, John Whitlow, Director of 

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

to receive the college’s first re-accreditation to CICMQ from Karen Tuffs FCICM(Grad), CICM Head of Accreditation. Karen 

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

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

process efficiency. Many congratulations to Gavin and the ICL team on their achievement. 

Smooth operators 

KAREN Tuffs FCICM(Grad), Head of 

Accreditation was welcomed by Kim Wood, 

UKI Credit Manager, Maria Bennet FCICM, 

Supply Chain Director, Shared Services and 10 

members of the credit team at L’Oreal’s Luxury 

Products Distribution Centre in Nottingham 

on in July. L'Oréal achieved its first CICMQ 

accreditation in January 2022, impressively 

embracing remote team working during 

the pandemic to meet the challenging Best 

Practice criteria requirements. L'Oréal chose 

the CICMQ workshop approach to successfully 

bring its three Shared Service locations 

together as working groups to accomplish 

their shared goal. 

Three-time winners 

XOSERVE welcomed Karen Tuffs FCICM (Grad), CICM Head of Accreditation to their offices in Solihull in July to officially 

receive their third CICMQ award after successful reaccreditation two years ago. Brendan Gill, Business Process Manager, 

James Spicer, Head of Finance and Support Services and members of the Credit Risk & Neutrality team invited Karen to 

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

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

consistently demonstrated its commitment to best practice in credit management operating in a complex, challenging 

market and are worthy holders of this prestigious accolade. 


OPINION 

Breathe Again 

Breathing space appears to be working, 

but there’s room for improvement. 

AUTHOR – Ed McDonagh 

ON 4 May 2021 new legislation 

came into force marking a 

much-needed change for people 

in problem debt. The Statutory 

Breathing Space scheme offers 

a 60-day moratorium period, 

giving eligible clients a period of legal protection 

from creditors to enable them to seek debt 

advice and find an appropriate solution for their 

circumstances. StepChange was at the forefront 

of campaigning for this legislative change and 

has long extolled the need for the protections 

the scheme was brought in to provide. 

In its first year, Breathing Space saw nearly 

70,000 applications, with StepChange delivering 

just over 46,000 of these. Given our prominent 

role in the scheme’s roll out, we wanted to 

conduct some analysis to assess its impact 

and to see how successfully it is achieving its 

objectives. 

❝ 

What this initial 

survey of 550 

StepChange 

clients tells us is 

encouraging; clients 

are benefitting from 

Breathing Space in a 

number of ways. 

❝ 

What this initial survey of 550 StepChange 

clients tells us is encouraging; clients are 

benefitting from Breathing Space in a number 

of ways. 

Around 90 percent of clients contacting 

StepChange who entered Breathing Space have 

gone on to complete full debt advice compared 

to around 25 percent of clients that did not enter 

Breathing Space. Breathing space clients are 

also around two to three times more likely to go 

on to take up a debt solution than clients that 

did not enter Breathing Space. This suggests 

that the Breathing Space protections give people 

more encouragement to stay engaged with debt 

advice and get the debt solution they need. 

Importantly, clients taking up Breathing 

Space benefited from valuable protections they 

otherwise wouldn’t have had access to, such 

as breaks in interest, fees and charges. Before 

accessing Breathing Space, fewer than one in five 

StepChange clients received these protections 

from all their creditors after contacting them 

to say they were struggling. This re-affirms 

the need for statutory protections that ensure 

consistent forbearance from creditors and 

provide an incentive for people to access debt 

advice earlier. 

BETTER OUTCOMES 

Breathing Space clients also had better wellbeing 

outcomes after debt advice, with two thirds or 

more reporting improved wellbeing, including 

sleeping better and worrying less about debts, 

compared with one in two among those who did 

not access the scheme. 

Despite the largely positive reception, our 

survey found areas where the Breathing Space 

scheme could be further developed to improve 

how clients are managed. With one in four 

clients saying a debt solution was not in place 

by the time their 60-day period had expired, and 

two in five saying 60 days wasn’t long enough for 

their situation to stabilise and to make progress 

with their debts, it’s clear there is a need to 

understand impacts across the sector and 

consider recommendations for improvements 

to the scheme. 

We are aiming to publish a broader evaluation 

later in the year based on discussions with a 

wider range of stakeholders including providers, 

creditors and advisers. We hope this work 

will give a clearer picture of the impact of the 

scheme so far and perhaps some more concrete 

areas for improvement. 

Ed McDonagh is Senior Public Policy 

Advocate at StepChange Debt Charity. 


NEW OFFICE PREMISES 

MOVE FORWARD 

The opening of a new headquarters signals an 

exciting new chapter in the CICM’s story. 

AUTHORS – Sam Wilson and Sean Feast FCICM 

FTER decades in the 

Watermill, The Chartered 

Institute of Credit Management 

has a new head 

A. 

office in Peterborough. 

It’s part of an ongoing 

strategy to make the Institute more 

accessible and more sustainable for the 

future. It also confirms an ambition to 

create a centralised hub for members and 

clients to access future learning and foster 

even greater collaboration. 

It’s that collaboration that Sue Chapple 

says has inspired the new office design. 

Gone are the closed-off offices and silos, 

and in comes a bright, open workspace to 

encourage positive discussion and creative 

thinking. For Sue, it’s the collaboration 

between members, clients and partners, 

that will help transform the CICM going 

forward. 

“Over the past few years, the way 

our Institute operates has changed. 

We’re working even more closely with 

our members, clients and partners and 

thanks to our new premises, we’re able to 

welcome them with open arms.” 

The new, modern office is a far cry from 

its old headquarters at the Watermill, a 

building that while charming in its own 

way, came with a set of challenges typical 

of a Listed building. The basement was 

prone to flooding, forcing insurance 

premiums through the roof, and the 

energy bills were also reaching eyewatering 

levels. Sue was also restricted in 

how and where her teams could work. 

“This new head office is not just a 

modernisation,” Sue continues, “although 

that would be reason enough. Moving to 

a new headquarters is an opportunity to 

open up the space to our members and 



❝ 

“The new office is a key part of 

our plan to cement our future, an investment 

both in the institute and its people.’’ 

invite them to be part of our discussion 

around future CICM initiatives, whilst 

also providing more space for learning, 

development and career progression.” 

CENTRALISED LOCATION 

The new office in Orton Southgate, 

just off the A1, provides a centralised 

location, accessible to more members 

thanks to its direct links to the capital 

from Peterborough train station in just 45 

minutes. 

Along with accessibility, the new space 

is also enabling the Institute to become 

more sustainable. Thanks to new lighting, 

energy-efficient windows and heating, 

the space is more financially sustainable 

as well as environmentally so. Another 

futureproofing feature important to 

Sue and the team was Electric Vehicle 

charging points. 

Brave | Curious | Resilient / www.cicm.com / September 2022 / PAGE 13 

“The new office is a key part of our 

plan to cement our future, an investment 

both in the Institute and its people. It’s an 

investment in the future of the Institute 

to help us become more sustainable. The 

building is more cost-effective for us to 

run and allows us to reinvest more into 

our membership offering. It even has EV 

charging points!” 

The modernisation and relocation has 

already attracted plenty of compliments 

from CICM members. Members have 

commented on how effective the new 

space is for learning and collaboration. 

“We’ve already hosted the most recent 

Executive Board and Advisory Council 

meetings as well as inviting our trainers 

in to see the space they’ll be utilising for 

learning. The feedback we’ve had has been 

refreshingly positive, and it’s going to give 

members and trainers a space they’re able 

continues on page 14 >


AUTHORS – Sam Wilson and Sean Feast FCICM 

❝ 

“We’ve already hosted the 

most recent Executive Board 

and Advisory Council meetings 

as well as inviting our trainers 

in to see the space they’ll be 

utilising for learning. 

❝ 

to utilise more effectively in the future.” 

The building is purpose-designed over 

two floors. The ground floor is given over 

to meeting rooms, break-out areas and a 

large boardroom that can be configured 

with ease thanks to some clever foldaway 

furniture. The first floor provides 

a modern working environment for the 

CICM team. There is a spacious kitchen 

too for refreshments, meaning events 

downstairs can function independently of 

the day-to-day running upstairs. 

FINANCIAL ADVANTAGES 

Financially speaking, the new office will 

also help the CICM save money in areas it 

was unable to do so previously, allowing it 

to reinvest into the Institute’s future. 

“Now that we can host our own events, 

and utilise our own space, we have a 

centralised location that everyone can 

access which in turn means we can reduce 

the costs of hosting events externally, 

enabling us to reinvest more into the 

Institute.” 

This working environment has also 

had a knock-on effect on the CICM’s core 

team: “The team are more inspired, the 

open plan space is encouraging them to 

be more creative and collaborative, and 

that behaviour is infectious. Visitors can 

see our passion.” 

Sue believes most importantly, the new 

building is an ‘enabler’ for the Institute: 

“It will encourage growth and ongoing 

development that will inspire the next 

generation of members and motivate 

everyone throughout the Institute from 

the trainers to the apprentices,” she says. 

“As a professional body, many have seen 

the considerable amount of progressive 

change we’re undergoing. This is all to 

raise awareness of credit management 

and collections, promote and develop 

best practice and support our members, 

clients, partners, and the wider industry. 

This office move has been a key step in 

that strategy and is acting as a catalyst 

for change, embodying our values Brave, 

Curious and Resilient.” 

The new office will be open to 

members through a booking system, due 

to be launched shortly. 

To find out more information, please 

contact info@cicm.com to book a room. 


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OPINION 

KNOCK KNOCK 

Sean Feast FCICM talks to Steve Coppard about 

public sector debt, his time in the Cabinet Office, 

and why you should never believe everything you 

watch on TV. 

WHEN Steve Coppard first applied to join 

HM Customs and Excise, he had a vision 

of chasing down the bad guys on a fast 

rib, seizing huge quantities of cocaine 

with a street value of millions. Too many 

hours spent watching episodes of The 

Knock had given him something of an exaggerated impression 

of HM Customs and Excise’s role in supporting the revenue: “I 

soon discovered there were no seafaring drug-busting jobs in 

Croydon,” he laughs. 

As it was, he was put on the phone to collect outstanding VAT 

debts, thereby starting a love affair with debt that has sustained 

him throughout his career and placed him front of mind as one 

of the industry’s genuine thought leaders. 

PERSONAL EXPERIENCE 

Steve’s knowledge has been earned, partly through work and 

partly through bitter personal experience. For a time, 

Steve was so much in hook to the pay day lenders that 

one of them would no longer extend any credit. It 

was a low point that Steve can trade directly back to 

his upbringing, growing up as a young lad in New 

Addington, a tough part of Croydon, and behaviours 

learned from his father: “My father was a ceiling fixer 

and had his own business,” Steve explains. 

“We had a typical family relationship for that time 

where my father went out and earned the money and my 

mother stayed at home and did the cooking and cleaning, as 

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

constantly on the move. He would buy up dilapidated houses, 

do them up, and them sell them on for a healthy profit and then 

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

never bothered to form any friendships because I was always 

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

The first significant event in Steve’s life came in 1986, when 

his father decided to fulfil a lifelong ambition, and buy a bar 

in Spain: “My father borrowed heavily and maxed out all of the 

credit cards and we disappeared abroad for six years. He bought 

a bar near Alicante but drank the proceeds and became an 

alcoholic. When we arrived, there were only four English bars 

in our town. By the time we left there were 400.” 

MOONLIGHT FLIT 

Down to their last few pesetas, Steve’s father decided to do a 

moonlight flit. Eventually making it back to the UK, Steve 

had no money and nowhere to live, so went to stay with his 

grandmother in her council flat in South Norwood. 

With no qualifications and little formal education of any 

note, Steve took it upon himself to contact his local school and 

study for his GCSEs. Although by now 17, he thought nothing of 

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

bother me, and I was determined to get some qualifications. 


OPINION 

AUTHOR – Sean Feast FCICM 

I managed an A Star in Spanish, despite 

never having taking the course!” 

Signing on while at school, the 

Department of Social Security were soon 

on to him and told him he needed to look 

for work: “With six years’ working in bars, 

I didn’t have much experience, but did get 

a job as a Bingo caller,” he smiles. 

A lucky break working with Tesco led 

to an opportunity to join its management 

training scheme, and further training 

followed with Allders, but his heart was 

never in retail and when an opportunity to 

join HM C&E presented itself, he jumped 

at the chance: “I started in telephone 

collections and found I was good at it. 

I seemed to put in half the effort and 

achieve twice as much as the people 

around me. 

“VAT collections in those days were 

pretty hard core. You knew the business 

had had the money in and that they had 

not passed on the tax to the Government 

but chosen to do something else with it. 

We would say to businesses that if they 

couldn’t afford to pay, then they were a 

risk to the revenue, and we would think 

nothing of using civil recoveries prior to 

insolvency.” 

UNCOMFORTABLE APPROACH 

Steve, however, wasn’t comfortable with 

the approach: “I kept wondering how I 

would feel if I had some officious so and 

so on the phone to me, and no wonder 

they would get angry. You’d hear the same 

people having the same arguments, and 

getting the same outcomes, and nobody 

was talking to the business owners as 

adults and having a mature conversation. 

“I looked up the definition of 

insolvency which I would 

summarise on the phone, and 

then ask the business how 

we could resolve it. That got 

me into the psychology of debt 

and to the concept that we needed 

to change our way of thinking to get 

people out of debt, rather than debt out 

of people. 

❝ 

Too many hours spent watching 

episodes of The Knock had given 

him something of an exaggerated 

impression of HM Customs and 

Excise’s role in supporting the 

revenue: “I soon discovered there 

were no seafaring drug-busting 

jobs in Croydon,” 



OPINION 


“Big organisations often have great ideas 

strategically,” he adds, “but unless they are 

in touch with the coal face they won’t know 

if their strategy is being implemented on the 

front line. Getting through multiple layers of 

management, some positively hostile to change, 

can be a challenge.” 

Steve’s success meant he was soon running 

several teams of collectors, and admits he made a 

few rookie management errors: “I am not a born 

leader,” he jokes. He started tinkering with his 

teams’ approach: “I began to question whether 

we should be having the same conversation 

with Crystal Palace FC that we would have with 

a local hairdresser, and that led to the first use 

of customer segmentation and targeting, albeit 

that we had to do the job manually.” 

SITE LEADER 

With the merger of Customs and Excise with 

The Inland Revenue to become HMRC, Steve 

secured further promotion, becoming a site 

leader: “I was running a site with more than 100 

people in it but some had little or no training 

so I would write process guides and manuals 

for them and our performance improved 

dramatically.” 

A move into Debt Management Business 

Analytics meant analysing the performance 

data of more than 6,500 collectors, stitching 

dot matrix-printed reports into meaningful 

intelligence. The information gleaned proved 

very insightful: “It allowed us to remove from 

the reports volumes of managed debt – i.e debt 

that had already been worked – and that gave us 

a much clearer picture on performance,” Steve 

explains. 

Unfortunately for Steve, his work in analytics 

and later in Lean transformation coincided with 

a difficult period in his personal life: “It took 

a bit of a nosedive,” he admits candidly, “and I 

racked up a huge amount of personal debt. I’d 

know all the tricks. I learned not to give my 

name when answering the phone and then 

waiting until they rung off. I would hide when 

bailiffs come to the door and at one point had 

200 final demand letters stuffed into a drawer. 

My mental health was all over the place and I 

was at rock bottom.” 

Help came in the form of his manager: “My 

boss said to me that he would help me but 

only if I helped myself. I went to group therapy 

every night for six months and was obliged to 

deconstruct my belief mechanism and build up 

a new version of who I wanted to be.” 

BACK IN THE FRAY 

It worked, and Steve was soon back in the fray, 

confident enough to apply for and gain his first 

senior management role, managing commercial 

contracts between the external debt collection 

agencies and HMRC. This later transitioned to 

become the Indesser joint venture as the Debt 

Market Integrator (DMI). 

❝ 

“We’re currently 

thinking about which 

debt-related badges 

we should have, 

and the CICM are 

certainly part of 

that conversation. 

We need to think 

about continuous 

professional 

development in the 

thought leadership 

space.” 

❝ 

The role at the time was temporary but after 

two years became permanent: “I was in a team 

that was effectively the intelligent customer 

team for the DMI,” he continues, “and the 

contracts were managed by the Framework 

Authority in the Cabinet Office. 

“Kathryn Turner was on temporary promotion 

to Deputy Director and was leading the DMI 

programme from the Cabinet Office. We’d met 

up a couple of times, and she told me they 

were looking to set up the functional model of 

Government, and the Framework Authority for 

DMI was likely to be part of it. 

“Six months later she texted me and asked, 

hypothetically, whether I’d be interested in 

temporary promotion in the Cabinet Office if 

I was offered it. Conversations in the corridors 

followed and we made it happen. She was the 

first person to really teach me about leadership 

and encouraged me to get out there and start 

talking about debt.” 

As the commercial lead managing the 

Framework Authority, Steve was now regularly 

meeting with Ministers and the head of the Civil 

Service, Sir John Manzoni and admits he shook 

like a leaf in their first meeting: “I tripped over 

my words and think I even swore, but he didn’t 

seem to mind!” 

When Kathryn moved on (she is now Vice 

President, Head of Client Group at CapGemini), 

Steve took another scary leap, applying for and 

becoming Deputy Director for the Government’s 

Debt management function: “This was quite a 

step up into the senior civil service,” he adds. 

“We’d been doing some fantastic work, albeit 

quietly, putting vulnerable customers at the 

heart of what we were doing, and I thought if 

I didn’t go for the job, and somebody new came 

in, they could undo all of the good work we’d 

already done. I thought that if that’s the way I 

felt about it, then I needed to get in the ring, 

allow the critics to throw stones and be mired in 

blood sweat and tears!” 

VULNERABLE CUSTOMERS 

The new title and status gave Steve the platform 

to drive the conversation in Government: “It 

wasn’t a conversation that was going on,” he 

says. “TCF and vulnerable customers were 

a big thing in the private sector, but not so in 

managing Government debt.” 

On his first day in post, John Manzoni called 

Steve into his office: “He said Citizens Advice 

had written to him twice and said we were all 

pants, the Treasury Select Committee looking at 

the household finance and debt inquiry headed 

up by Nicky Morgan (now Baroness Morgan) 

said we were pants, and the National Audit 

Office said we were pants, and what was I doing 

about it!?” 

Steve’s goal was to get a version of TCF 

into legislation for all of Government: “It’s a 

conversation that is still ongoing,” he says, “but 

we weaved the narrative of vulnerability and TCF 


OPINION 


through creating the cross Government 

debt strategy, the Government Debt 

Standard, and joint public statements with 

the Fairness Group, CAB and others. I also 

weaved it into all of the public speaking 

I was doing such that I believe we have 

built it into the fabric of Government debt 

so that now it can’t be unpicked.” 

Although happy in his work, Steve 

felt he needed another challenge. A 

conversation with Jamie Waller led him 

to join Arum, where he has a free rein to 

think and advise across both Arum (an 

independent provider of advisory and 

professional services within collections 

and revenue) and Just (the enforcement 

market integrator, providing a single 

route to access industry leading experts 

on resolving problem debt): “Being able to 

bring public sector expertise and thought 

leadership to two companies with some of 

the finest minds in the industry was too 

good an opportunity to turn down,” he 

says. 

On the day that we speak, Steve had 

been considering a response to the 

Statutory Debt Repayment Plan (SDRP) 

consultation, which he is likely to turn 

into a whitepaper. He enjoys the time to 

think and consider, and an environment 

where he is also allowed to fail fast. He 

also enjoys his interaction with the CICM, 

having known Sue Chapple FCICM, CICM 

Chief Executive, in the days of Indesser, 

and as a regular judge for the British 

Credit Awards: “We’re currently thinking 

about which debt-related badges we 

should have,” he adds, “and the CICM 

are certainly part of that conversation. 

We need to think about continuous 

professional development in the thought 

leadership space.” 

The peace he enjoys is a world away 

from the crash and wallop of another 

passion of his, Punk Rock: “I’ve seen 

them all over the years,” he says. “The 

Damned, the Cyanide Pills, the Ramones, 

the Addicts. I used to go to the Rebellion 

Festival every year, but now I’ve got old 

and lazy and just go and see local bands. 

“It gets me out of the peace and quiet!” 


Thursday 2 February 2023 

The Royal Lancaster, London 

CATEGORIES ANNOUNCED 

ENTER NOW 

Following a record breaking 2022 event the 

CICM British Credit Awards are back for 2023. 

The British Credit Awards recognise the stand out achievements 

of the most deserving individuals, teams and organisations in the 

international credit industry. Join us as we celebrate your achievements 

and recognise all the hard work you have achieved this year. So take a 

look at the categories, and think which one you, your colleagues or your 

team deserve. Enter or nominate today! 

Here is your opportunity to be rewarded as what is recognised as the 

highest accolade you can receive in your profession. 2023, it’s your 

chance to lift the trophy! 

To find out about the exceptional range of sponsorship opportunities available at the CICM British Credit 

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

Will Bolton – Business Development Manager 

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

2023 AWARDS 

CATEGORIES 

Entries open until 

Friday 23 September 2023 

B2B Team Award 

B2C Collections Team Award (new for 2023) 

Supplier of the Year Award 

Social Mobility & Inclusion Award 

Innovation & Technology Award 

Best Employer Award 

Risk Management Achievement Award 

Shared Service Provider Award 

Debt Collection Agency Award 

Insolvency Team Award 

Legal Provider Award 

Giving Back Award 

Rising Star Award 

Resilience & Continuity Award 

Credit & Collections FinTech Supplier Award (new for 2023) 

Financial Services - Payment Innovation Award (new for 2023) 

Sir Roger Cork Prize (announced on the night) 

Jenny Oldfield Supporting Women Award 

Credit Professional of the Year Award 

Outstanding Contribution to the Industry 

Excellence in Credit Management (announced on the night) 

For more information visit 

www.cicmbritishcreditawards.com 

or scan the QR code to be directed to our website

CICM ADVISORY COUNCIL 

Shaping the future 

CICM Advisory Council gains new members. 

THE success of the CICM Advisory 

Council is centred around 

having members from different 

specialisms and regions so that 

it reflects the diverse range of 

skills and experience amongst the 

Institute’s membership. This year’s elections 

welcomed several new and re-elected members 

keen to bring their individual insights and 

experience to the Council. 

Dave Hindle FCICM, CEO of Propensio 

Finance, has taken on responsibility as the 

Regional Representative for Yorkshire & Humber. 

He’s worked in the Consumer Credit sector 

since 1990 – initially in Collections and then, 

since 1997, in Consumer Lending. In the last 12 

years, he’s founded two successful businesses 

in the Regulated lending sector. His ‘major’ is 

Operations & processes which deliver value and 

quality to internal and external stakeholders: 

“I’ve been a Fellow of the CICM for four years 

but, other than the monthly magazine, have 

never really utilised all the great support and 

services available such as the knowledge hub 

and the broad array of quality training courses. 

I’d like to help my region reach a wider audience 

by a more active approach to promoting all this 

great content, not only via the branches but also 

directly with some of the other professional and 

trade bodies I work with. 

Brendan Clarkson FCICM is soon to take up 

a new role of Client Services Director at Azzurro 

Associates. He started his career at Bank of 

Scotland in the Finance and Leasing team back 

in 1995, and is proud to represent Credit Services: 

“I have now worked within credit for 27 years, 

and my focus has never been that far from 

credit management/risk. There is no doubt the 

country has faced enormous challenges over 

the past three years and credit has never had a 

bigger platform to show its ability to support the 

economy. I am excited for the two years to come, 

and with the support of the chartered institute, 

we are preparing a schedule both at the national 

and branch level to engage all members and 

hopefully bring new members in too.’’ 

Paula Swain FCICM is a Partner with UK law 

firm, Shoosmiths. From its office in Hampshire, 

she leads a team of 25 commercial debt recovery 

legal specialists acting for a broad range of 

medium to large corporates across a range of 

sectors. She is a Fellow of the CICM and sits on 

the CICM Technical Committee and CICM Think 

Tank. Now she is also the Regional Representative 

for the South East: “I work closely with Credit 

Management professionals as part of my day job, 

and I am committed to supporting the strength 

and success of their profession. My new Advisory 

Council role gives me an opportunity to work 

more closely with branches and members in 

the South East. I believe in working towards 

a stronger sense of togetherness for members 

in my region with the strongest possible 

communication between the CICM and members 

who can’t always get to larger or regional events. 

This starts with getting to know those leading our 

local branches, and discussing how we support 

and grow that community: “The experience and 

knowledge of our credit professionals is always 

essential to the health of our economy, but even 

more so during a recession. A strong community 

of members will help to support each other and 

ensure the strongest possible flow of knowledge. 

I am excited to meet like-minded professionals, 

and to help support and grow our membership.” 

Amanda Phelan MCICM(Grad) is Head of 

Credit and Collections at Bechtle Direct Limited 

in Dublin. She has a career in credit spanning 

25 years, and is the newly elected Regional 

Representative for Scotland, Ireland and Northern 

Ireland: “I was delighted to be elected to the 

Advisory Council recently as I have been on the 

Irish Committee for the last number of years and 

we have been trying to raise the profile of Credit 

Management here. However, the pandemic made 

this exceptionally difficult and as such we have 

all had to adjust to a new way of communication 

and learning. As recently stated in our Regional 

meeting I do feel that this is the perfect time for 

a renaissance of sorts and am excited to be a part 

of the future change and development within the 

organisation.” 

Allan Poole 

MCICM 

Debbie Nolan 

FCICM(Grad) 

Laurie Beagle 

FCICM 

Atul Vadher 


Paula Swain 


Dave Hindle 


Amanda Phelan 

MCICM(Grad) 

Brendan Clarkson 



CICM ADVISORY COUNCIL 

Trade Credit Representatives 

Victoria Herd FCICM(Grad) 

Martin Kirby FCICM 

Phil Rice FCICM 

International Credit Representatives 

Laurie Beagle FCICM 

Glen Bullivant FCICM 

Charles Mayhew FCICM 

Consumer Credit Representatives 

Caroline Asquith-Turnbull FCICM 

Neil Jinks FCICM 

Debbie Nolan FCICM(Grad) 

Victoria Herd 


Glen Bullivant 


Neil Jinks 


Credit Services Representatives 

Brendan Clarkson FCICM 

Larry Coltman FCICM 

Chris Sanders FCICM 

Regional areas covered 

East Midlands 

Mark Taylor MCICM 

Martin Kirby 


Caroline Asquith-Turnbull 


Phil Roberts 


East of England 

Atul Vadher FCICM(Grad) 

London 

Laural Jefferies FCICM 

North East 

Allan Poole MCICM 

Peter Gent 


Chris Sanders 


Laural Jefferies 


North West 

Peter Gent FCICM(Grad) 

Scotland, Northern Ireland & Ireland 

Amanda Phelan MCICM (Grad) 

South East 

Paula Swain FCICM 

South West 

Phil Roberts FCICM (Casual) 

Phil Rice 


Andrew Hignett 

MCICM(Grad) 

Mark Taylor 


Wales 

Hans Meijer FCICM 

West Midlands 

Andrew Hignett MCICM (Grad) 

Yorkshire & Humber 

Dave Hindle FCICM 

Larry Coltman 


Charles Mayhew 


Hans Meijer 



CICM TRAINING 

Training courses that offer high-quality approaches 

to credit-related topics and practical skills 

Now, more than ever, the Credit Management and Collections industry is 

seeing drastic changes and impacts that affect the day-to-day roles of Credit 

and Collections teams. 

CICM Training offers high-quality approaches to credit-related topics. 

Granting you the practical skills and necessary tools to use in your workplace 

and the ever-changing industry. A highly qualified trainer, with an array of 

credit management experience, will grant you the knowledge, improved 

results, and greater confidence you need for your teams to succeed in the 

Credit Management profession. 

Get trained with your 

professional body and the only 

Chartered organisation that delivers 

Credit Management training 


On-Demand | Online | Face-to-Face 

METHODS OF DELIVERY 

CICM Training courses can be delivered through a variety of 

options, ensuring a range of opportunities for your teams to 

be trained on the most up-to-date methods in the industry. 

CICM On-Demand 

Training 

CICM Online 

Training 

CICM Face-to-Face 

Training 

On-Demand training can be viewed anytime, anywhere with our 

downloadable training videos. 

Online training will be for those who find it easy to learn from the space 

of their home or office. 

Face-to-face training It’s been a long time coming but now you can mingle 

and learn together in the same room as your colleagues and peers. 

TRAINING COURSES 

CICM have a collection of training courses to meet the needs of your Credit and 

Collections’ teams. Take a look at the courses below and start training towards the 

CICM Professional Standard. 

Advanced Skills in Collections • Best Practice Approach to Collections 

Best Practice Skills to Assess Credit Risk • Collect that Cash • Credit Bootcamp Effective 

Communication in the Credit Role • Emergency Guide to Credit 

Harness your leadership Style • Know Your Customer • Managing Insolvency 

Reflect and Develop • Set Targets that Work 

For more details, visit our website, scan the barcode 

or contact us at info@cicm.com 


Apprentice profile 

RYAN Weir has been working for United 

Utilities since the age of 16 (back in 

2008). Starting work within the billing 

department on a temporary contract, 

he succeeded in securing full time 

employment in 2010, and since 2011 has 

been working in the Income Team in Whitehaven. 

“My role mainly comprises speaking with customers 

over the phone or digitally in order to obtain full 

payment of outstanding debts,” he explains. “During my 

time with the company, I have worked across different 

departments and made lifelong friends.” 

Since joining the Income Team, Ryan has taken part 

in many different projects and additional tasks: “I am 

always eager to do different things in order to further 

my development and progress within the department 

which is why I jumped at the chance to do a CICM 

apprenticeship. 

“The apprenticeship, although a considerable amount 

of work, is really well planned and allows you to work at 

a steady pace both from home and in the office. Since 

starting the programme in June 2021, I have gained a 

wider knowledge of the credit industry which will help 

me develop and progress my career at United Utilities. 

There has been plenty of support throughout my 

apprenticeship journey so far and with 20 percent of my 

hours being off the job learning, it has allowed me to 

make the most of the programme.” 

Ryan would have no hesitancy in recommending an 

apprenticeship to others: “I would absolutely recommend 

an apprenticeship through CICM to anyone who wishes 

to further their career within United Utilities and the 

credit industry,” he adds. 

“The programme itself can be challenging and does 

require some work in your own time, but I’m enjoying 

the apprenticeship so far and I am looking forward to 

completing the rest of the course.” 

Latest in a new series 

of how CICM-led 

Apprenticeships are 

supporting professional 

development. 

Ryan Weir 

Income Team 

Whitehaven 

“The apprenticeship, although a 

considerable amount of work, is really well 

planned and allows you to work at a steady 

pace both from home and in the office. 

Since starting the programme in June 2021, 

I have gained a wider knowledge of the 

credit industry which will help me develop 

and progress my career at United Utilities.’’ 

‘‘There has been plenty of support 

throughout my apprenticeship 

journey so far and with 20 percent of 

my hours being off the job learning, 

it has allowed me to make the most 

of the programme.” 

Apprenticeships in Credit 

Control and Collections 

There are five apprenticeships for those working in the credit 

profession. At each Level of apprenticeship you will be able to 

gain professional CICM qualifications 

• Credit Controller/Collector 

• Advanced Credit Controller and Debt Collection Specialist 

Apprenticeship 

• Compliance/Risk Officer Apprenticeship 

• Senior Compliance/Risk Specialist Apprenticeship 

• Financial Services Degree Apprenticeship 

For more details on how CICM can help you start your 

apprenticeship journey, visit cicm.com/apprenticeships 


THE PERFECT VENUE FOR THIS YEAR’S 

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Victorian Bath House, 7-8 Bishopsgate Churchyard, London EC2M 3TJ 


SUICIDE WATCH 

How are DCAs managing the impact of distressing 

calls on customers and their own staff? 

AUTHORS – Sean Feast FCICM and Mel York 


OPINION 


BRITAIN is in the worst cost 

of living crisis it has seen in 

decades. At the end of July, 

Citizens Advice reported it had 

helped more people in the first 

half of 2022 than the whole of 

2019 and 2020 combined. The biggest problem 

it sees is people unable to pay their energy 

bills. Many are falling into a credit crisis, and 

calls with debt collection agencies are growing 

in number and are increasingly stressful for all 

concerned. 

Last year over four million people struggling 

with bills and credit repayments borrowed a total 

of £13bn to pay bills and reach payday. Since the 

war in Ukraine and the associated food and fuel 

crisis, the situation has worsened. And it will 

continue to do so if the economic predictions 

are correct. In July, EY suggested household 

spending would be squeezed as inflation peaked 

at 11 percent this Autumn whilst wages would 

only rise 5.5 percent, resulting in the biggest 

real wage decline since the 1970s. Just a couple 

of weeks later, EY revised its inflation estimate 

to 15 percent and forecast earnings increases 

would remain below inflation until 2024. 

FINANCIAL STRUGGLES 

Of households struggling financially, some 

51 percent are in problem debt, meaning they 

have no safety net other than to borrow in order 

to make ends meet. Their lack of financial 

resilience often results from unemployment, 

illness or relationship breakdown, which 

reduces income to the point where they can no 

longer pay for essentials such as electric, gas 

and food. 

Small business owners are also struggling. 

Official figures show insolvencies registered 

in the second quarter of this year are the 

highest since the 1960s. A recent survey of 

small businesses found that almost 80 percent 

of SMEs see this cost-of-living crisis as their 

biggest threat. Over a quarter were not sure 

their business would survive another year. 

Small office/home office and sole traders are 

especially vulnerable. 

As more people lose their income and fall into 

debt, the number of calls being handled by debt 

collection agencies rises and the calls become 

increasingly distressing – for both the caller and 

the call handler. Before the pandemic, the Credit 

Services Association (CSA) issued an update 

to its Code of Practice, ‘Dealing with Suicidal 

Customers’, covering both the need to refer 

matters to the Police immediately if a customer 

is threatening actual self-harm or suicide during 

a call, and steps to take in circumstances where a 

customer becomes very distressed during a call. 

To that end, companies are not only training 

staff to be more sensitive and supportive to 

their customers but also providing them with 

tools and processes to help call handlers' own 

mental well-being. Several shared details of the 

type of training and support they provide, which 

❝ 

Last year over 

four million people 

struggling with 

bills and credit 

repayments borrowed 

a total of £13bn to 

pay bills and reach 

payday. Since the 

war in Ukraine 

and the associated 

food and fuel crisis, 

the situation has 

worsened. 

❝ 


organisations they turned to for expert advice, 

and what more they think the industry should 

be doing. 

SPECIALIST TRAINING 

Call handlers are not trained councillors. 

Recognising a caller who is highly distressed 

and potentially suicidal is not always easy. Many 

customers will not volunteer information which 

explains their situation in full. But several 

leading firms have introduced special training 

to help their agents learn the most critical skill, 

recognising when a client is vulnerable. They 

are taught to listen for signs of difficulties such 

as a passing mention of bereavement, ill health, 

a change in circumstance or a reluctance to 

share financial information. 

They also learn the do’s and don’ts’ of how 

to speak to distressed clients. Denise Crossley 

FCICM, CEO of Lantern UK, says that all of 

her staff are trained to follow the Harmed and 

Shush conversation models: “Our vulnerability 

training includes content regarding mental 

health and suicidal customers,” she explains. 

Knowing how to handle these conversations 

gives call handlers the confidence to overcome 

their fears of being intrusive, overly familiar, 

or personal with a client. And how to handle 

clients who either do not wish to disclose their 

vulnerability or may not even be aware they are 

in a situation which makes them vulnerable. 

Training provides agents with the tools to 

gain a person’s trust so that they can reveal 

more about the difficulties they face, both 

financial and personal. Learning how to create 

an environment where clients feel comfortable 

talking about their situation opens up 

opportunities for the agent to provide the right 

kind of support and discuss the next steps. 

Martin Roseweir FCICM, Managing Director 

of Allied International Credit (AIC), says that the 

most important aspect of training, is learning 

how to listen: “Within our compliance training, 

three courses focus on how to listen for potential 

‘triggers’ that a customer may be vulnerable, and 

how to support the customer,” he says. “Staff are 

taught through a mix of classroom facilitation, 

online learning with assessments and practical 

role-play/mock call exercises.” 

Those exercises, he says, allow the agents to 

practise difficult conversations and build their 

confidence in low-stress, safe environments. 

AIC uses the TEXAS method to help staff deal 

with conversations around vulnerability. And 

all front-line staff learn the BLAKE (Breathe, 

Listen, Ask, Keep safe, End) procedure for 

high-risk situations. The BLAKE method guides 

handlers through the call, signalling when they 

need to act, such as referring the client to an 

organisation like MIND, one of the UK’s most 

prominent and oldest mental health charities, 

or the Samaritans. It also tells the call handler 

how to take care of themselves, reassuring them 

that these calls can be frightening, and that selfcare 

is essential. 


OPINION 


PROVIDING SUPPORT 

It is incredibly important that firms 

support their frontline staff both during 

and after the call. Different firms have 

different approaches to providing that 

support. 

Denise Crosley says that Lantern 

staff members must alert a team leader 

immediately if they are concerned about 

a caller’s welfare. Once alerted, the team 

leader or other agents will work in the 

background by making suggestions and, 

if necessary, contacting any emergency 

services needed: “This approach keeps 

the customer on the phone talking, rather 

than putting the client on hold,” she adds. 

Once the call is over, Lantern advises staff 

on well-being and offers support. 

David Sheridan FCICM, Operations 

Director at ARC Europe, says that his 

firm takes a slightly different approach: 

“We have created an escalation process 

(‘hand up - stand up’) to ensure the more 

senior staff deal with these calls. They 

will literally take the call from a junior 

call handler, so we support them and 

the caller,” he explains. “We also provide 

an Employee Assistance Programme to 

support our staff through the aftermath 

of these tough calls.” 

RIGHT CONVERSATIONS 

Educating staff to have the right 

conversations with vulnerable people, 

which will help those individuals to 

open up about their financial or other 

problems, and how to cope with these 

increasingly common stressful calls 

requires expertise in counselling and 

empathic listening. Firms have turned to 

organisations skilled and experienced in 

dealing with the most distressed people. 

Team leaders, learning and 

development and customer experience 

managers at Lantern all received mental 

health training from the Leeds branch 

of MIND. All operational staff receive 

training on vulnerability, mental health 

and handling calls from distressed clients 

from Money Wellness, an organisation 

offering debt advice to the public. These 

programmes have helped Lantern create 

and improve its staff training materials, 

and is in addition to the six-week training 

programme delivered to all employees 

through its Academy. 

ARC Europe invests in external training 

from an organisation that trains the 

Samaritans, and targets this training 

at the more senior agents to be able to 

handle distressed calls more effectively. 

Like AIC it also follows BLAKE, a process 

taught to all front-line staff. 

Intrum similarly uses TEXAS, BLAKE, 

and other industry standard protocols. 

David Price, Compliance Director, 

Intrum UK, says the firm has a dedicated 

Customer Care Team who look after and 

support those customers who are regarded 

as extremely vulnerable and require 

immediate attention: “The Customer Care 

Team have years of experience of dealing 

with all types of situations and have been 

trained by recognised professionals,” he 

explains. 

“This team understand how to manage 

and empathise with a suicidal customer, 

create the conditions for change and help 

a crisis customer in that moment. That 

means forgetting the job and trying to 

connect with the customer so they feel 

❝ 

“This team understand how 

to manage and empathise 

with a suicidal customer, 

create the conditions for 

change and help a crisis 

customer in that moment. 

That means forgetting the job 

and trying to connect with 

the customer so they feel 

valued, so the conversation 

they have can save a life, 

whilst keeping themselves 

safe in the process.” 

❝ 

valued, so the conversation they have can 

save a life, whilst keeping themselves safe 

in the process.” 

David points to his own experience 

in dealing with vulnerable customers, 

and has recently implemented a new 

vulnerability project to enhance its 

current programmes: “We have created a 

team of ‘Vulnerability Champions’ across 

Intrum UK who will undertake accredited 

‘best in class’ training on customer 

vulnerability over the summer months,” 

he says. 

“We will then implement key 

vulnerability training to the rest of the 

collections teams, using the knowledge 

we have gained to be ‘best in class’. 

Our aim is to ensure our collectors are 

knowledgeable on all aspects of customer 

vulnerability, this will ensure we provide 

the best outcomes possible for our 

customers.” 

Martin Roseweir says that AIC’s 

Learning & Development Manager (LDM) 

is certified in Mental Health customer 

support training and Mentally Healthy 

Workplace training: “The LDM uses 

that knowledge in the learning content 

developed for our employees. Additional 

resources such as the Financial Conduct 

Authority (CONC guidelines), Money 

Advice Liaison Group, and industry 

codes of practice are also vital in not only 

sustaining the knowledge base but also 

upskilling with any updated reference 

points to an important topic.” 

John Ricketts, Managing Director at 

Ardent Credit Services, agrees. Ardent 

uses the publicly available standards, tools 

and frameworks to support best-in-class 

training: “The core focus of our training 

is to avoid causing additional distress 

to those who are suffering and to use a 

combination of signposting, empathy 

in conversation and where relevant, 

keeping customers talking whilst we alert 

emergency services.’’ 

NO RESTRICTIONS 

Interestingly, Ardent does not apply 

any restrictions on call duration and, 

in the most extreme circumstances, 

will make a direct notification to the 

emergency services while the agent is 

still on the call. It supports its staff with 

immediate debriefs, so that even the 

most experienced and competent call 

handlers can share their experiences. 

It also provides unlimited professional 

counselling as required as part of the free 

Employee Assistance Program. 

What is apparent from these few 

examples is that DCAs are a world 

away from the lazy media stereotype 

of an industry that relentlessly pursues 

individuals with threats and intimidation. 

As David Sheridan suggests: “The industry 

has come a long way from the historic 

image of leather-jacketed skin-headed 

bailiffs. And even though it’s still difficult 

to sugar coat the consequence of possibly 

losing your car, most communications I 

see are mindful and encourage positive 

engagement.” 

John Ricketts concurs: “In our business 

we consistently receive (in a calendar 

month) more positive comments/direct 

compliments from customers than upheld 

complaints. Saying that, we are aware that 

many customers who feel supported and 

complimentary are talking about ‘’being 

surprised of how nicely they have been 

treated by the debt collectors’ and ‘it was 

silly of me to worry about dealing with 

you as it as a great help’. 

“This shows that stereotyping of debt 

collection process as ‘scary bullying’ is 

very much alive and more needs to be 

done in publishing positive stories and 

comments and statistics on compliments 


OPINION 


received. Customer satisfaction scoring works up to a point 

but being ‘satisfied’ with the service received is different 

from feeling actively supported, listened to and helped.” 

Agencies primarily collaborate with individuals to find 

a solution to their debt problem, partly with the longerterm 

goal of retaining the end consumer for the client. 

But the industry has learned to listen with empathy to an 

individual’s plight, and that compassion enables them to 

help distressed people with more than just debt issues when 

needed. 

As John says, the industry could do more to convince 

people that it has changed. Customers need to know they 

will be supported and looked after, and that the industry is 

dedicated and has trained staff to handle difficult situations 

sensitively, Denise agrees: “The industry needs to share its 

story,” she says, “through case studies and stories which 

explain to the customer they are in safe hands, that we are 

positive and willing to engage. This would then promote 

healthier and more meaningful conversations.” 

CHANGING TIMES 

David Price also feels that the industry could be doing 

more: “There needs to be more focus at trade association 

meetings,” he says. “Some DCAs’ knowledge around customer 

vulnerability is dated and they need to get acquainted with 

the new guidance from the FCA and support tools which are 

available from the firms such as the Money Advice Trust. 

If DCAs are aligned, this will also support and embrace 

changing the perception of debt collection in the financial 

services industry.” 

Notwithstanding David’s view, Martin Roseweir believes 

that the industry has changed substantially since the FCA 

was formed eight year ago: “Customer experience has 

become more open and more honest,” he says. “Customers 

are discussing their vulnerabilities with our staff, which 

ultimately helps us all make more informed decisions.” 

Martin says that the culture within AIC specifically has 

changed; he says there is now much greater trust, and that 

‘debt collection’ comes secondary to a customer’s wellbeing. 

But he wonders whether this culture exists across 

the entire industry. 

Certainly, the CSA would like it so. Chris Leslie, 

the CSA’s CEO, says the trade body supports both the 

customer and its members: “At the heart of the CSA Code 

of Practice is an expectation that customers in vulnerable 

circumstances and facing financial difficulties must be 

helped to obtain the right advice and support. Ensuring 

that debt collection agencies can offer appropriate and 

timely referrals suitable for a customer’s circumstances is 

an important priority for our sector – especially if those 

individuals are distressed or expressing potentially selfharming 

thoughts,” he explains. 

“But we also recognise the impact of distressing 

conversations on agency staff, and we always urge our 

member firms to treat colleagues with understanding 

and support so they can deal with what can be harrowing 

exchanges.” 

Chris believes that in many respects, CSA members 

are ahead of the game when it comes dealing with the 

most vulnerable in society: “We would welcome further 

cooperation between regulators, creditors and other trade 

bodies to deliver even greater consistency of standards for 

firms supporting customers in acute distress so that the 

entire financial services sector can offer best practice on 

this sensitive issue.” 

❝ 

“Some DCAs’ knowledge around customer 

vulnerability is dated and they need to 

get acquainted with the new guidance 

from the FCA and support tools which are 

available from the firms such as the Money 

Advice Trust. If DCAs are aligned, this will 

also support and embrace changing the 

perception of debt collection in the financial 

services industry.” 

❝ 


International Trade 

Monthly round-up of the latest stories 

in global trade by Andrea Kirkby. 

Global debt crisis? 

BUT just as Europe is in trouble, 

so Governments around the 

world are drowning in debt. 

MoneyWeek reported that 

‘rising interest rates and soaring 

inflation will leave many Governments 

with unsustainable debts… get set for a 

wave of sovereign defaults.’ 

Barbados, Lebanon and Sri Lanka 

have all gone bankrupt; regardless of the 

reasons, each couldn’t pay their debts. 

Russia is a new defaulter, but that is 

technical rather than actual following the 

imposition of sanctions. 

Part of the problem is the access 

and availability of credit that has 

grown since World War II has led to 

remarkable economic growth and 

wealth. Governments borrowed to build 

infrastructure, companies invested and 

expanded, and the average person has 

attained a great lifestyle. In more recent 

times, debt has risen because interest 

rates are low and money has been cheap. 

But with rising demand led inflation, 

central banks have been putting up 

interest rates and the cost of borrowing 

has shot up. Heavily indebted developed 

economies are struggling, especially as 

we all now expect healthcare, pensions, 

education and infrastructure. 

Such countries need to either slash 

borrowing – leading to recession – or 

default; many economies are in for 

a battering. And it doesn’t help that 

many small countries rely on foreign 

investment which can dry up if there’s 

an adverse election result, a geopolitical 

event or a spike in import prices. 

Commodity-producing countries might 

be fine, but only if their products are in 

high demand and prices are rising. 

The net effect of this is that exporters 

need to have an eye on their localised 

markets and any potential threats to 

demand. 

UNDER PRESSURE 

THE Bank of Japan (BoJ) is under 

pressure and firms are raising prices 

due to mounting cost pressures 

stemming from a weakening yen. The 

yen is now at a 20-year low against the 

dollar, and the unwillingness of the 

bank to raise rates in order to restrain 

inflation and support the currency 

‘makes it an outlier among developed 

economies’ – says the Financial Times. 

It appears that The BoJ is most 

comfortable with the yen around 100 to 

120 to the dollar, ‘as it flatters overseas 

earnings, boosts domestic inflation (of 

which Japan has had little – inflation 

is still at only 2.1 percent) and supports 

exports.’ But the yen has weakened to 

138 to the dollar. Some think that the 

BoJ will have to change tack soon and 

do something to staunch the drop in 

the value of the yen. 

CONVERSATION.com notes while 

China accounts for more than a sixth 

of the world’s population – its numbers 

‘swelled’ from 660m to 1.4bn over the 

past four decades – the population is 

likely to head downwards this year for 

the first time since the country’s great 

famine of 1959-1961. 

According to official figures, the 

Chinese population grew by just 480,000 

China’s population to decline 

in 2021, a record low and a fraction of 

the annual growth of 8m or so common 

a decade ago. 

This might be down to the population 

being used to having small families 

after years of the one-child policy, a 

population being squeezed by the cost 

of living, or women having children at 

a later age. Regardless, the drop will 

affect the economy. 

Apparently, there are currently 100 

working-age people to support every 

20 elderly people. But by 2100, they 

may have to support as many as 120. It 

doesn’t take rocket science to recognise 

that any decline in the working-age 

population will affect economic growth. 

China maybe big but its 

demographics are about to change and 

that may affect product demand. 


RECORD shipping costs are hindering 

British firms wanting to export outside the 

European Union. 

The Centre for Economics and Business 

Research (CEBR) recently said that longhaul 

shipping costs had almost tripled 

compared with pre-pandemic levels 

because of higher fuel and container 

costs, surging demand for goods and port 

disruption caused by the war in Ukraine. 

The problem isn’t unique to the UK. 

In the US, the Biden administration has 

accused companies that control the Pacific 

EUROPE UNDER THREAT 

IF you trade with Europe – you rely on products or componentry – you need to stress test 

the supply chain. The impact of the sanctions placed upon Russia is affecting businesses 

across the continent, especially France and Germany where gas and electricity may be 

rationed. France is, according to Euronews, working on plans to reduce gas and electricity 

supplies to some firms over the winter. And Germany is doing the same and may well soon 

take over distribution of utilities if matters get worse. All are planning for Russia cutting 

off gas from the Nordstream 1 pipeline. It happened for 10 days mid-July for ‘maintenance’ 

but was turned back on, albeit at a lower level, to load more pressure on the west – a point 

driven home by a statement, mid-July, from Russian gas giant Gazprom which declared a 

force majeure saying that it cannot supply gas because of ‘extraordinary’ circumstances. 

EUROPEAN DEBT CRISIS? 

MANY will recall that Europe bailed out 

eight countries including Spain, Greece, 

Ireland and Portugal following the 2008 

financial crisis. The worry is that some 

in Europe will need more help – and 

soon. 

Take Italy. It has €2.759trn of debt that 

equates to almost 150 percent of GDP. It’s 

the eurozone’s third-largest economy 

and a failure there could seriously 

harm the euro. Prime minister, Mario 

Draghi, known as ‘Super Mario’ and his 

Government have run out of steam. He’s 

resigned. 

On a more positive note, the Financial 

Times thinks that things aren’t that 

bad: Italy is to receive €200bn in grants 

and cheap loans from the EU’s postpandemic 

recovery fund. However, the 

money is tied to structural reforms that 

might drag Italy out of its long economic 

stagnation. 

The Daily Telegraph has written that 

‘Europe’s monetary union is a bit like a 

bumblebee; aerodynamically it shouldn’t 

fly, yet somehow it does. For how much 

longer must again be in doubt.’ 

Rising UK cargo costs 

shipping sector of raising prices by 1,000 

percent and effectively stoking inflation. 

The CEBR found that short-haul 

shipping costs for British businesses to 

countries such as Germany had gone up 

from about 3.5 percent of the value of the 

exports to 7.3 percent. But for longer-haul 

sea routes outside Europe, the rise was 

greater – from 7.5 percent to as much as 

20.4 percent. 

Some might suggest that this rise is a 

consequence of Brexit. The reality is that 

this is a global problem. 

STATE APPROPRIATION 

THE worst nightmare of any foreign 

investor is state-backed appropriation. To 

be fair, it ought to be worst nightmare of 

any right-thinking investor since it makes 

the idea of putting cash into an enterprise 

a very risky occupation. 

But as had been presaged, Russian 

president Vladimir Putin recently decreed 

that all rights to the Sakhalin-2 natural gas 

project are to be transferred to a Russian 

entity. This, says the Financial Times, 

‘could force foreign investors, including 

Shell, Mitsubishi and Mitsui to walk away.’ 

Shell has a 27.5 percent stake in the 

project, while the two Japanese companies 

own 10 percent and 12.5 percent 

respectively. The rest is owned by Russia’s 

state-owned Gazprom. 

While Putin has blamed Western 

sanctions in response to the war in 

Ukraine for creating ‘an environmental 

and technological emergency’ – against 

which Russia was forced – ‘to defend 

its national interests’. The reality is 

that if relations with the world are 

ever normalised, then those with long 

memories will be very reluctant investors. 

EU TO URGENTLY 

ACCELERATE TRADE DEALS 

CLEARLY worried about growth prospects 

for the European Union along with its 

global influence, 15 European Union 

governments called for the bloc to 

accelerate the conclusion of various free 

trade agreements. 

Crises relating to Ukraine and Covid 

demonstrated the need for greater supply 

chain resilience and more open trade 

despite, what many have seen, increasing 

levels of protectionism. The EU notes that 

one in seven jobs in the bloc depends on 

trade. Ministers think that the Regional 

Comprehensive Economic Partnership 

(RCEP), the world's largest trade agreement 

including China, Japan and Australia that 

entered into force at the start of 2022, 

“should be a wake-up call for Europe." 

The problem is that while deals are in 

the pipeline – with Mercosur (Argentina, 

Brazil, Paraguay and Uruguay), Mexico, 

Australia, New Zealand and Indonesia 

and now India, some European members 

are holding up agreements. France is 

apparently sensitive to increased beef 

imports such deals could bring. 

Britain clearly needs to step up its game 

or it could be overtaken. 

NOW HERE’S AN IDEA 

INDIAN food-delivery firm Zomato has 

acquired fast-delivery start-up Blinkit in a 

cash-and-stock deal worth 44.5bn rupees 

(£461m) – according to Breakingviews. The 

company delivers groceries to ‘well-heeled’ 

Indians in less than 15 minutes, using a 

network of 400 dark stores. 

That’s one part of the story. The other 

and possibly more interesting part relates 

to Zomato’s Deepinder Goyal who thinks 

that ‘quick commerce’ is the hook with 

which to sell higher-margin goods from 

make-up to electronics. 

While some – The Wall Street Journal 

– think it’s a great idea but poorly timed, 

others such as China’s Ant Group see 

Zomato as taking a long-term view. 

Nevertheless, thinking out of the box 

and using one service to sell higher margin 

products to the well-heeled might be a 

route to success. 

CURRENCY UK 

EXCHANGE RATES VISIT CURRENCYUK.CO.UK 

OR CALL 020 7738 0777 

Currency UK is authorised and regulated 

by the Financial Conduct Authority (FCA). 

HIGH LOW TREND 

GBP/EUR 1.19882 1.16725 Up 

GBP/USD 1.22833 1.18591 Up 

GBP/CHF 1.17101 1.13912 Down 

GBP/AUD 1.76475 1.70169 Down 

GBP/CAD 1.57592 1.53648 Up 

GBP/JPY 166.103 159.594 Down 

This data was taken on 17th August and refers to the 

month previous to/leading up to 16th August 2022. 


TAKING THE 

REGISTER 

Tackling fraud through better 

information and a register of borrowers. 

A 

year ago, UK Finance declared 

that ‘The level of fraud in the UK 

is such that it is now a national 

security threat’. This high and 

rising volume of criminality 

was boosted by the pandemic 

to £753.9 million in the first half of 2021 alone. 

This number was reportedly 30 percent bigger 

than the preceding year’s total – an unpleasantly 

steep, upward trend. 

Unfortunately, it’s likely that it’s continuing 

to grow. Would anyone be surprised to see a 

significantly higher number when UK Finance 

publishes its 2022 half year report? 

For years, measure after measure has been 

implemented to try and prevent the fraud 

growth. Today, for example, in the asset finance 

industry there are at least six credit reference 

agencies being used by the industry to try to 

spot suspicious activity. But when it comes 

to identifying a company’s total borrowing 

commitments, the reality is no single agency 

possesses enough market share to provide a 

broad enough view across the asset finance 

lending market. 

AUTHOR – Nick Leader 

Until now, the 

financial services 

industry has turned 

over practically every 

stone when it comes 

to solving this issue 

via co-operation. 

But, recently, a 

group of asset 

finance providers 

has landed on a 

solution. A simple 

and straightforward 

register of borrowers. 

And so, fraud still plagues both the finance 

industry, and the wider UK economy. We 

need look no further than 2021’s Arena TV 

scandal – potentially the biggest ever in assetbacked 

lending – which is under investigation 

for defrauding lenders out of c£282 million – 

although the true scale is yet unknown. 

More needs to be done to tackle the issue 

and offer in not only asset finance lenders, but 

also lenders more generally, better insight and 

visibility to counter it. 

REGISTER OF BORROWERS 

Until now, the financial services industry has 

turned over practically every stone when it 

comes to solving this issue via co-operation. 

But, recently, a group of asset finance providers 

has landed on a solution. A simple and 

straightforward register of borrowers. Such a 

register enables lenders to identify likely largescale 

frauds where the amount being borrowed 

across multiple lenders exceeds the balance 

sheet assets of the borrower. 

By focusing on the corporate entity – and 

not the assets – lenders obtain a simple and 


FRAUD 

AUTHOR – Nick Leader 

❝ 

There is nothing new about providers in a 

given sector coming together to share data 

for the common good. Pharmaceutical 

companies have had their share of publicity 

during the pandemic – but what is perhaps 

less visible is the way they collaborate on the 

Disclosure UK database. 

❝ 

resonant view of a company’s current 

asset finance arrangements. Such a view 

should show up potentially suspicious 

or irregular balance-sheet borrowing or 

activity. In reaching this point there are 

three learnings – learnings that may be 

useful for other sectors as they combat 

the specific types of fraud they face. 

The first is collaboration. The success 

of the asset finance register of borrowers 

is contingent on broad industry support. 

To make it happen, providers must simply 

supply five non-strategic data points 

per agreement for aggregation. The 

more comprehensive the data, the more 

effective the anti-fraud solution will be. 

There is nothing new about providers 

in a given sector coming together 

to share data for the common good. 

Pharmaceutical companies have had their 

share of publicity during the pandemic – 

but what is perhaps less visible is the way 

they collaborate on the Disclosure UK 

database. This is a register of payments 

and benefits in kind from the industry to 

healthcare professionals, to foster better 

transparency and trust. 

Look hard enough at most large 

and successful sectors and they have 

equivalent collaborative efforts to solve 

collective problems. Fraud affects just 

about every economic sector – and solving 

it requires consensus. 

TOO COMPLEX 

The second learning is simplicity. It is 

probably fair to say that one of the reasons 

the asset finance industry took so long 

to grapple with fraud is that proposed 

solutions may have been too complex – 

despite best intentions. 

For example, a register of the assets 

borrowed against is complex. For a start 

there is huge diversity in the asset finance 

industry – some companies need mobile 

phones, others huge industrial plants. 

And just about every compass point in 

between is covered. 

Within a few seconds you can look up 

a corporate entity and get a full view of 

everything they’ve borrowed. And that 

view is extremely valuable in helping to 

identify suspicious borrowing behaviours. 

DECISIVE ACTION 

The third is decisiveness. In our industry, 

asset finance, there is a strong and widely 

held desire to tackle fraud. Do other 

sectors need to be stung before they act? 

Perhaps some will, but others won’t. But 

what worked for us is a mind-set that 

enough is enough. The professionals on 

our industry working group who drove us 

towards creating a borrower register were 

wholeheartedly decisive. 

Whilst we are well on our way to 

market consensus, companies need to 

be committed to making this a reality, 

not just in the immediate aftershock of a 

fraud scandal, but for the long term and 

for good – and help make fraud a lot less 

of a problem to us and our customers. 

Nick Leader is the CEO of Acquis 

Insurance. 

Brave | Curious | Resilient / www.cicm.com /September 2022 / PAGE 35

OPINION 

LIFE SUPPORT 

The Support List aims to give customers with 

disabilities greater access to financial services. 

AUTHOR – Paul Lamont 

THE development of digital 

financial services has 

transformed the depth and 

breadth of access to such 

services for consumers. And 

yet, there are still significant 

barriers to overcome, as accessibility of 

such services for disabled consumers and 

those with additional support needs is still 

affected by important nuances that many 

firms are unaware of. 

One of the key driving forces reasons for 

this is that firms simply do not have access 

to the detailed support needs of disabled 

customers. There are many obstacles 

stopping customers from actively sharing 

their support needs with service providers. 

Research conducted amongst consumers 

with a disability and additional support 

needs, reveals the scale of the challenge. 

A staggering 85 percent hadn’t requested 

additional support from their bank or 

building society. This means that they 

could be missing out on essential support 

during a particularly challenging time. 

Unfortunately, this trend is being repeated 

in other areas too – including credit cards 

(90 percent) and pensions (91 percent). 

The benefits of informing a provider 

cannot be understated. For those that have 

shared their support needs, 70 percent 

were found to be satisfied with the extra 

help they received – demonstrating that 

when support is put in place it really does 

help. 

INDUSTRY CHALLENGE 

The challenge for the financial services 

industry – and across sectors – is how to 

build greater awareness of these services 

and to really understand what will make a 

difference to customers. Another challenge 

is to create a standardised approach across 

sectors to ensure customers who require 

additional support are treated the same, 

whatever business they are dealing with. 

Trust must also be built, so that those 

sharing their support needs can be assured 

that the information will be managed 

appropriately and sensitively. 

One solution is to take a community 

driven and open-sourced approach with 

the ambition of improving accessibility for 

people dealing with businesses and other 

organisations. The Support List aims to 

level the playing field. 

The Support List is a set of reasonable 

adjustments that organisations can make 

that will make the lives of disabled people 

easier. It draws upon the insights of more 

than 1,400 disabled people to provide a 

publicly available starting point to promote 

dialogue between disabled people and 

those with additional support needs and 

businesses looking to support them. It is 

refined over time based on feedback from 

the very consumers that need the support, 

and the firms that will fulfil them. 

This project is sponsored by Experian 

and those behind it, including disability 

and accessibility experts, are encouraging 

the community to share their experiences 

which will enable the Support List to be 

more widely used, expand its guidance, 

and pave the way for a wider range of 

support needs over time. 

INITIAL FOCUS 

The Support List is publicly available and 

focuses initially on the areas of sight, 

hearing, mental health and dementia, 

and outlining consumer preferences of 

communication. 

By doing this, it helps organisations 

better understand how they can support 

their customers in the ways they interact 

with them, such as writing, telephone 

communications or meeting with them in 

person. 

The list will expand over time to cover 

more disabilities, vulnerabilities, and 

circumstances, informed by the lived 

experiences of contributors. 

The long-term ambition is that the 

Support List will be used to develop 

standardised approaches and responses to 

support those with disabilities, which can 

then be used across multiple industries 

and sectors, to benefit anyone in the UK 

who may need support. 

Projects like these are vitally important 

for expanding accessibility to financial 

services, and other businesses. Inclusive 

initiatives bring more consumers into the 

financial system and enable access to safe, 

affordable financial services and products. 

Additionally, this project represents a first 

step on that journey and helping people 

get the support they need. 

Paul Lamont is the Innovation 

Lead at Experian Data Exchange. 


OPINION 

AUTHOR – Paul Lamont 

❝ 

The long-term ambition is that the Support List will be used to develop 

standardised approaches and responses to support those with disabilities, 

which can then be used across multiple industries and sectors, to benefit 

anyone in the UK who may need support. 


Introducing our 

CORPORATE PARTNERS 

For further information and to discuss the opportunities of entering into a 

Corporate Partnership with the CICM, please contact corporatepartners@cicm.com 

VISMA | Onguard is a specialist in credit management 

software and market leader in innovative solutions for 

order-to-cash. Our integrated platform ensures an optimal 

connection of all processes in the order-to-cash 

chain. This enhanced visibility with the secure sharing 

of critical data ensures optimal connection between 

all processes in the order-to-cash chain, resulting 

in stronger, longer-lasting customer relationships 

through improved and personalised communication. 

The VISMA | Onguard platform is used for successful 

credit management in more than 70 countries. 

T: 020 3868 0947 

E: edan.milner@onguard.com 

W: www.onguard.com 

YayPay makes it easy for B2B finance teams to stay 

ahead of accounts receivable and get paid faster – 

from anywhere. 

Integrating with your ERP, CRM, and billing 

systems, YayPay presents your real-time data 

through cloud-based dashboards. Automation 

improves productivity by 3X and accelerates 

collections by up to 34 percent. Predictive analytics 

provide insight into payor behavior and an online 

portal enables customers to access their accounts 

and pay at any time. 

T: +44 (0)7465 423 538 

E: marketing@yaypay.com 

W: www.yaypay.com 

HighRadius provides a cloud-based Integrated 

Receivable Platform, powered by machine learning 

and AI. Our Technology empowers enterprise 

organisations to reduce cycle time in the order-tocash 

process and increase working capital availability 

by automating receivables and payments processes 

across credit, electronic billing and payment 

processing, cash application, deductions, and 

collections. 

T: +44 (0) 203 997 9400 

E: infoemea@highradius.com 

W: www.highradius.com 

Bottomline Technologies (NASDAQ: EPAY) helps 

businesses pay and get paid. Businesses and banks 

rely on Bottomline for domestic and international 

payments, effective cash management tools, automated 

workflows for payment processing and bill review 

and state of the art fraud detection, behavioural 

analytics and regulatory compliance. Every day, we 

help our customers by making complex business 

payments simple, secure and seamless. 

T: 0870 081 8250 

E: emea-info@bottomline.com 

W: www.bottomline.com/uk 

Our Creditor Services team can advise on the best 

way for you to protect your position when one of 

your debtors enters, or is approaching, insolvency 

proceedings. Our services include assisting with 

retention of title claims, providing representation at 

creditor meetings, forensic investigations, raising 

finance, financial restructuring and removing the 

administrative burden – this includes completing 

and lodging claim forms, monitoring dividend 

prospects and analysing all Insolvency Reports and 

correspondence. 

T: +44 (0)2073 875 868 - London 

T: +44 (0)2920 495 444 - Cardiff 

W: menzies.co.uk/creditor-services 

FIS GETPAID solution is a fully integrated, webbased 

order-to cash (O2C) solution that helps 

companies improve operational efficiencies, lower 

DSO, and increase cash flow. The solution suite 

includes strategic risk-based collections, artificial 

intelligence, process automation, credit risk 

management, deduction and dispute resolution and 

cash application. FIS is a global leader in financial 

services technology, providing software, services 

and outsourcing of the technology that empowers 

the financial world. 

T: +447730500085 

E: getinfo@fisglobal.com. 

W: www.fisglobal.com 

With 130+ years of experience, Graydon is a leading 

provider of business information, analytics, insights 

and solutions. Graydon helps its customers to make 

fast, accurate decisions, enabling them to minimise 

risk and identify fraud as well as optimise opportunities 

with their commercial relationships. Graydon 

uses 130+ international databases and the information 

of 90+ million companies. Graydon has offices in 

London, Cardiff, Amsterdam and Antwerp. Since 2016, 

Graydon has been part of Atradius, one of the world’s 

largest credit insurance companies. 

T: +44 (0)208 515 1400 

E: customerservices@graydon.co.uk 

W: www.graydon.co.uk 

Tinubu Square is a trusted source of trade credit 

intelligence for credit insurers and for corporate 

customers. The company’s B2B Credit Risk 

Intelligence solutions include the Tinubu Risk 

Management Center, a cloud-based SaaS platform; 

the Tinubu Credit Intelligence service and the 

Tinubu Risk Analyst advisory service. Over 250 

companies rely on Tinubu Square to protect their 

greatest assets: customer receivables. 

T: +44 (0)207 469 2577 / 

E: uksales@tinubu.com 

W: www.tinubu.com. 

Building on our mature and hugely successful 

product and world class support service, we are 

re-imagining our risk awareness module in 2019 to 

allow for hugely flexible automated worklists and 

advanced visibility of areas of risk. Alongside full 

integration with all credit scoring agencies (e.g. 

Creditsafe), this makes Credica a single port-of-call 

for analysis and automation. Impressive results 

and ROI are inevitable for our customers that also 

have an active input into our product development 

and evolution. 

T: 01235 856400 

E: info@credica.co.uk 

W: www.credica.co.uk 


Each of our Corporate Partners is carefully selected for 

their commitment to the profession, best practice in the 

Credit Industry and the quality of services they provide. 

We are delighted to showcase them here. 

They're waiting to talk to you... 

Hays Credit Management is a national specialist 

division dedicated exclusively to the recruitment of 

credit management and receivables professionals, 

at all levels, in the public and private sectors. As 

the CICM’s only Premium Corporate Partner, we 

are best placed to help all clients’ and candidates’ 

recruitment needs as well providing guidance on 

CV writing, career advice, salary bench-marking, 

marketing of vacancies, advertising and campaign 

led recruitment, competency-based interviewing, 

career and recruitment trends. 

T: 07834 260029 

E: karen.young@hays.com 

W: www.hays.co.uk/creditcontrol 

Court Enforcement Services is the market 

leading and fastest growing High Court Enforcement 

company. Since forming in 2014, we have managed 

over 100,000 High Court Writs and recovered more 

than £187 million for our clients, all debt fairly 

collected. We help lawyers and creditors across all 

sectors to recover unpaid CCJ’s sooner rather than 

later. We achieve 39 percent early engagement 

resulting in market-leading recovery rates. Our 

multi-award-winning technology provides real-time 

reporting 24/7. 

T: +44 (0)1992 367 092 

E: a.whitehurst@courtenforcementservices.co.uk 

W: www.courtenforcementservices.co.uk 

Shoosmiths’ highly experienced team will work 

closely with credit teams to recover commercial 

debts as quickly and cost effectively as possible. 

We have an in depth knowledge of all areas of debt 

recovery, including: 

• Pre-litigation services to effect early recovery and 

keep costs down • Litigation service • Insolvency 

• Post-litigation services including enforcement 

As a client of Shoosmiths, you will find us quick to 

relate to your goals, and adept at advising you on the 

most effective way of achieving them. 

T: 03700 86 3000 

E: paula.swain@shoosmiths.co.uk 

W: www.shoosmiths.co.uk 

Forums International has been running Credit and 

Industry Forums since 1991 covering a range of 

industry sectors and international trading. Attendance 

is for credit professionals of all levels. Our forums 

are not just meetings but communities which 

aim to prepare our members for the challenges 

ahead. Attending for the first time is free for you to 

gauge the benefits and meet the members and we 

only have pre-approved Partners, so you will never 

intentionally be sold to. 

T: +44 (0)1246 555055 

E: info@forumsinternational.co.uk 

W: www.forumsinternational.co.uk 

Data Interconnect provides corporate Credit Control 

teams with Accounts Receivable software for bulk 

e-invoicing, collections, dispute management and 

invoice finance. The modular, cloud-based Corrivo 

platform can be configured for any business model. 

It integrates with all ERP systems and buyer AP 

platforms or tax regimes. Customers can self-serve 

on mobile friendly portals, however their invoices are 

delivered, and Credit Controllers can easily extract 

data for compliance, audit and reporting purposes. 

T: +44 (0)1367 245777 

E: sales@datainterconnect.co.uk 

W: www.datainterconnect.com 

Serrala optimizes the Universe of Payments for 

organisations seeking efficient cash visibility 

and secure financial processes. As an SAP 

Partner, Serrala supports over 3,500 companies 

worldwide. With more than 30 years of experience 

and thousands of successful customer projects, 

including solutions for the entire order-to-cash 

process, Serrala provides credit managers and 

receivables professionals with the solutions they 

need to successfully protect their business against 

credit risk exposure and bad debt loss. 

T: +44 118 207 0450 

E: contact@serrala.com 

W: www.serrala.com 

American Express® is a globally recognised 

provider of business payment solutions, providing 

flexible capabilities to help companies drive 

growth. These solutions support buyers and 

suppliers across the supply chain with working 

capital and cashflow. 

By creating an additional lever to help support 

supplier/client relationships American Express is 

proud to be an innovator in the business payments 

space. 

T: +44 (0)1273 696933 

W: www.americanexpress.com 

The Company Watch platform provides risk analysis 

and data modelling tools to organisations around 

the world that rely on our ability to accurately predict 

their exposure to financial risk. Our H-Score® 

predicted 92 percent of quoted company insolvencies 

and our TextScore® accuracy rate was 93 

percent. Our scores are trusted by credit professionals 

within banks, corporates, investment houses 

and public sector bodies because, unlike other credit 

reference agencies, we are transparent and flexible 

in our approach. 

T: +44 (0)20 7043 3300 

E: info@companywatch.net 

W: www.companywatch.net 

Esker’s Accounts Receivable (AR) solution removes 

the all-too-common obstacles preventing today’s 

businesses from collecting receivables in a 

timely manner. From credit management to cash 

allocation, Esker automates each step of the orderto-cash 

cycle. Esker’s automated AR system helps 

companies modernise without replacing their 

core billing and collections processes. By simply 

automating what should be automated, customers 

get the post-sale experience they deserve and your 

team gets the tools they need. 

T: +44 (0)1332 548176 

E: sam.townsend@esker.co.uk 

W: www.esker.co.uk 


Introducing our 

CORPORATE PARTNERS 

Each of our Corporate Partners is carefully selected for their commitment 

to the profession, best practice in the Credit Industry and the quality of 

services they provide. We are delighted to showcase them here. 

Chris Sanders Consulting – we are a different sort of 

consulting firm, made up of a network of independent 

experienced operational credit and collections 

management and invoicing professionals, with 

specialisms in cross industry best practice advisory, 

assessment, interim management, leadership, 

workshops and training to help your team and 

organisation reach their full potential in credit 

and collections management. We are proud to be 

Corporate Partners of the Chartered Institute of Credit 

Management. For more information please contact 

enquiries@chrissandersconsulting.com 

T: +44(0)7747 761641 

E: enquiries@chrissandersconsulting.com 

W: www.chrissandersconsulting.com 

Key IVR provide a suite of products to assist companies 

across Europe with credit management. The 

service gives the end-user the means to make a 

payment when and how they choose. Key IVR also 

provides a state-of-the-art outbound platform 

delivering automated messages by voice and SMS. 

In a credit management environment, these services 

are used to cost-effectively contact debtors and 

connect them back into a contact centre or 

automated payment line. 

T: +44 (0) 1302 513 000 

E: sales@keyivr.com 

W: www.keyivr.com 

For further information 

and to discuss the 

opportunities of entering 

into a Corporate 

Partnership with the 

CICM, please contact: 

corporatepartners@cicm.com 


NEW AND UPGRADED MEMBERS 

Do you know someone who would benefit from CICM membership? Or have 

you considered applying to upgrade your membership? See our website 

www.cicm.com/membership-types for more details, or call us on 01780 722903 

STUDYING MEMBER 

Julian Mellors 

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AFFILIATE 


Keith Cowart 

Richard Singleton 

AWARDING BODY 

Congratulations to the following, who successfully achieved Diplomas 

Level 3 Diploma in Credit Management (ACICM) 

Ryan Brookes 

Thomas Faulkner 

Joseph Gallagher 

Stephen Jones 

Imrana Usmani 

Erin Worrow 

Level 4 Diploma in High Court Enforcement 

Sabrina Barker-Newton 

Marina Eames 

Marta Garner 

Caroline Griffiths 

Anela Pavicevic 

Marcia Robinson 

Level 5 Diploma in Credit & Collections Management MCICM (Grad) 

Claire Seaton 

Level 4 Diploma in High Court Enforcement 

Andrew Mcdermott 

Raise your credibility and 

boost your career prospects 

– Apply for your upgrade today 

Contact: info@cicm.com for more details 


OPINION 

BUNCH OF FIVES 

How to steer your organisation through 

the next five years of challenge. 

AUTHOR – Andy Lilley 

MANY people in our 

industry have never 

worked through a 

recession. Those of us 

who have are painfully 

aware of just how 

different it is to business-as-usual. While 

we may not be in the midst of a recession 

currently, challenges like ongoing supply 

chain disruption, labour shortages and 

unpredictable market swings mean 

many companies are now bracing for an 

economic downturn. 

Steering a business through these 

circumstances will mean running a much 

tighter ship. Organisations will face more 

difficulty borrowing money, keeping 

customers and planning for the long 

term. According to PwC, this means that 

liquidity and the optimisation of working 

capital are now critical and will play an 

important role in helping businesses to 

adapt and survive. 

With two years of unrest behind us 

and the possibility of more to come, 

I believe there are five key areas that 

businesses need to focus on, in order to 

make their short- and long-term cashflow 

management more effective and reliable. 

Investment and optimisation in these 

areas will make the difference between 

businesses that weather the storm and 

those that drift out to sea. 

IMPROVING VISIBILITY 

To steer your organisation through stormy 

waters, you need to be able to see what’s 

on the horizon. 

Predictability is hard but essential 

during tough times, when external 

events are hard to control and potentially 

damaging for your business. This is where 

having access to accounts receivable (AR) 

data is invaluable, as it provides access 

to information that will allow leaders to 

make more informed decisions quickly. 

When faced with a period of great 

uncertainty, it’s important to remember 

that your customers are going through 

the same experience. Every day, they are 

asking themselves questions like, ‘Who do 

I pay?’, ‘Do I pay them a week late, just to 

give myself some extra cashflow?’. 

This adds a layer of complexity for 

businesses, by making their own cashflow 

harder to predict. For example, a business 

might anticipate that they will collect 86 

percent of cash in any given month, based 

on previous experience. But if factors 

outside of their control are suddenly 

forcing customers to make difficult, and 

unpredictable decisions about who to pay 

and when, then this assumption becomes 

less accurate and less valuable. 

Proper visibility over AR data, however, 

can help to counteract this variation. It 

helps to provide a more realistic view of 

the working capital the organisation will 

have at its disposal at a given time. 

UTILISING REAL-TIME DATA 

While visibility over the right data is a 

good first step, how often you are able 

to access this defines how well you can 

use it. Data drives decisions. But realtime 

data drives effective decisions. Data 

that is not applicable in real time could 

damage your business more than it could 

help it. That’s why real-time processing is 

a powerful tool in your recession-resistant 

accounts receivable arsenal. If you receive 

a bank statement once a day, but it takes a 

day or two to apply that cash, then you're 

not moving quickly enough. 

If you miss a payment by even a couple 

of hours, you could potentially chase a 

reliable customer for something they 

have already paid. Perhaps their line of 

credit could be held up when they want to 

spend more money with you, because you 

haven’t applied their cash. 

Photo credit: 

Nigel Millard 


OPINION 

AUTHOR – Andy Lilley 

When the business and economic 

environment is constantly changing, 

you can't just make your decisions on a 

Friday. Decision making must be dynamic 

and must take place at sequential points 

every day. Automating AR processes can 

help to provide the real-time intelligence, 

reporting and analytics that are key to 

enabling this fluid decision making. 

❝ 

Steering a business through 

these circumstances will mean 

running a much tighter ship 

❝ 

FOCUSING ON THE CUSTOMER 

In the world of AR, we talk a great deal 

about risk to profit. During a downturn 

or period of uncertainty, it’s essential to 

understand your customers and really 

work with them to increase their lines of 

credit, to allow them to spend more with 

you and not your competitor. 

Where you have a high profit, low risk 

customer, you might want to take some 

of that risk on yourself. But what about 

occasional customers that only buy from 

you once every 12 months? You either 

shouldn’t extend that acceptance of risk 

to them, or you should work with them to 

make them your primary customer, rather 

than being a secondary supplier to them. 

While it may feel counterintuitive 

during difficult periods, focus on the 

customer, rather than having a generic 

approach to how you set your credit limits 

and measure risk. Make sure the customer 

experience they receive on the back end 

(when you’re collecting cash from them) 

is as good as their experience on the front 

end (when you’re selling to them). 

DEPENDENCY ON PEOPLE 

Despite fears of a recession on the horizon, 

people have more choice at present 

than ever before. It is very difficult to 

recruit right now, with supply falling far 

below demand for roles across nearly all 

sectors. Creating value for people is a key 

differentiator during these times. If your 

business has grown 50 percent at the front 

end, but you can’t recruit or retain people 

at the back end because of outdated, 

manual processes, then your business 

won’t be able to remain competitive. 

People want to add value to their roles 

and the business they serve. Being mired 

in mundane tasks is a sure-fire way to 

send great talent packing, which is why 

organisations must look at automating 

rote, repetitive tasks before it’s too late. 

Conversely, this could also reduce 

dependency (and pressure) on some of 

the key people you’re trying to retain. 

Automation can reduce knowledge gaps. 

Having it in place means you won’t be 

dependent on a specific team member, 

who may be the only person who knows 

how to complete a labour-intensive 

manual process. 

INVEST IN DIGITISATION 

Rather than digitising individual parts 

of accounts receivable, as has been the 

case in recent years, over the next five 

years, organisations should be choosing 

an advanced digital process. This requires 

end-to-end digitisation, because each 

part of accounts receivable whether it is 

cash application, collection or resolving 

disputes has a knock-on impact on the 

others.I will explain by way of an analogy. 

Imagine you’re going on holiday. You’ve 

booked your hotel, your hire car and your 

flights through different providers. Then, 

your flights are suddenly cancelled (not 

an unlikely scenario these days). You’re in 

trouble, because you booked your hotel 

and your hire car separately, and they 

couldn’t care less that your flight was 

cancelled. Because the individual parts of 

the whole were not connected, the entire 

system collapsed when one part failed. 

Automating each of your processes one 

by one in this way puts you at risk of this 

eventuality. A more advanced, end-toend 

solution allows for a more holistic 

approach, wherein each action has an 

opposite reaction. 

The only constant, as they say, is change. 

Preparing your business for volatility 

with this mindset and the right suite of 

intelligence and automation will put you 

in a strong position for the uncertainty 

to come. I believe optimisation of these 

areas will be evident in those companies 

that survive – and clearly lacking in those 

that don’t. 

Andy Lilley is Managing Director 

Global AR, BlackLine. 


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OPINION 

Come fly with me? 

Delays, shortages and strikes: how is the 

aviation industry coping? 

AUTHOR – Nicola Harris 

IT’S fair to say the travel industry hasn’t 

had the easiest year so far, and with 

the summer holiday season came a 

fresh lot of setbacks for a sector already 

under immense pressure. 

Recent data from the Civil Aviation 

Authority (CAA) shows that one in five (19.5 

percent) flights leaving UK airports took off later 

than planned in the last financial year, with the 

average delay standing still for 11 minutes. But 

what’s causing so many airports to delay their 

flights? And what impact has this had upon the 

industry? 

At the heart of the issue is severe staff 

shortages. Following huge reductions in flight 

departures during the COVID-19 pandemic, 

airlines were operating with limited cabin 

crew as a large proportion of staff were either 

furloughed, made redundant or left to find more 

stable employment. Airports, too, reduced the 

number of workers and cleaners on the floor 

in line with the reduced number of flights. 

But despite increasing demand, both airlines 

and airports have been struggling to hire ever 

since, and have yet to recover to pre-pandemic 

workforce numbers. 

As restrictions have eased across Europe, 2022 

will see many jetting off on their first holiday 

abroad in in almost three years. Business travel 

is also on the increase as companies seek to 

move back to in-person meetings after years 

of virtual working. This sudden increase in 

demand, combined with the staff shortages, has 

resulted in passengers queuing for hours to go 

through security or to collect their luggage, and 

suffering last-minute flight cancellations. This 

inevitably has impacted customer relations and 

overall consumer satisfaction. With increased 

travel time and additional expenses on food and 

accommodation becoming far more frequent, 

there has been a substantial rise in customers 

having to pay out unforeseen costs. 

HUGE PRESSURE 

With airport and airline staff under huge 

amounts of pressure, it’s unsurprising that 

strikes have become somewhat routine. EasyJet, 

British Airways and Ryanair all have strikes 

scheduled across Europe during Summer 

2022, pushing many airlines to increase pay to 

encourage their employees to return to work. 

In the latest anticipated strike at Heathrow 

Airport, British Airways granted workers an 

eight percent pay rise to avoid further disruption 

at the UK’s busiest airport. And with rising fuel 

and maintenance costs, as well as compensation 

pay-outs for delayed and cancelled flights, 

airlines are seeing a direct impact on overall 

revenue. 

❝ 

With airport and 

airline staff under 

huge amounts 

of pressure, it’s 

unsurprising 

that strikes have 

become somewhat 

routine. EasyJet, 

British Airways and 

Ryanair all have 

strikes scheduled 

across Europe 

during Summer 

2022, pushing many 

airlines to increase 

pay to encourage 

their employees to 

return to work. 

❝ 

It’s had a serious knock-on effect on the 

economy as a whole. As airline costs increase, 

carriers are inclined to charge passengers a 

higher fare, not only affecting holiday goers but 

also those industries such as tourism, which 

rely on air travel. And although it may seem 

like these price increases won’t directly impact 

many, they feed into the overall rise in inflation 

and, over time, will play a role in squeezing 

consumer spend. 

But it’s not all bad news. Despite the 

delays, demand for travel remains strong and 

airlines are putting processes in place to help 

mitigate further disruptions. As customers 

and businesses become more accustomed to 

the potential disruptions, they too are being 

strategic in their arrangements. 

For those businesses looking at how to best 

navigate the journey ahead, it would be wise to 

invest in full-proof travel and credit insurance. 

This is particularly important for trading 

overseas to ensure cover against non-payment 

in the event of delayed departures and the late 

arrival of goods. Credit insurance also allows 

businesses to vet who they will be trading in; 

a benefit that has proven invaluable for those 

looking to expand to new markets. 

The hope is that by 2023 the situation will 

have calmed down and staff retention will 

have increased, but for now, and as the rate 

of inflation stands, customers and businesses 

looking to travel and trade globally must 

continue to step carefully. 

Nicola Harris is Senior Underwriter 

at Atradius UK & Ireland. 


ESG 

AUTHOR – Simona Scarpaleggia. 

❝ 

Hybrid working at its 

best can be a tool to 

unleash the true potential 

of an organisation. It 

means not only adapting 

the days and hours that 

we work, but also the 

workplace itself. 

❝ 

FLEXIBLE 

THINKING 

Why business leaders must 

think inclusively in considering 

a hybrid working model. 


ESG 

AUTHOR – Simona Scarpaleggia. 

FLEXIBLE working used to be an issue that 

caused business leaders and managers 

a considerable amount of angst. And 

while the pandemic has necessitated the 

need for both employee and employer to 

be more flexible in their thoughts and 

processes, the issue is far from resolved. 

Some leaders are undoubtedly still resistant to 

change; some also want to go back to the way it was. A 

recent report from Deloitte (Women @ Work 2022 – a 

Global Outlook), for example, shows that only a third 

(33 percent) of women say that their organisations 

have flexible working policies, and more than nine 

out of ten (94 percent) feared that making a formal 

request for flexible working would seriously impact 

their future chances of promotion. 

And yet over the past two years, many employees 

have become used to a hybrid model, and how it 

supports a better work/life balance. They have similarly 

become accustomed to the significant savings in cost 

and working hours from not having to commute. It is 

understandable, therefore, that they are reluctant to 

give up their newly won freedoms which leaves their 

leaders in something of a quandary. 

But rather than a threat to the workplace of 

the future, why should leaders of businesses and 

organisations see flexible and hybrid working as an 

opportunity? 

THREE CATEGORIES OF HYBRID WORKERS 

Firstly, they need to recognize that those in favor of 

hybrid working tend to fall into one of three categories: 

primary care givers – those responsible for children 

or elderly relatives for example; heavy commuters 

– those with a long, expensive and often stressful 

daily journey into work; and the more sensitive – 

those who may struggle with either mental or physical 

health, and who benefit from quiet and their own 

‘space’. 

What all three category types have in common is 

that they all comprise a resource with enormous talent 

and potential. Put another way, they all constitute a 

risk that their talents will be lost if their employees fail 

to be more flexible in their working practices and/or 

return to the ‘five-days in the office every week’ model 

pre-pandemic. 

At a time when talent is a scant resource, looking 

after these people is a new imperative, and that will 

require some leaders to adapt their approach in the 

future. Future leaders will have to be more caring and 

inclusive in their actions. They will need to be clear 

in shaping and communicating their expectations of 

others. And they will need to adapt their own style of 

leadership, to lead by example, to inspire the people 

around them, as a leader they can trust. 

Of course, many of the best leaders already 

demonstrate these traits, but certainly not all. A 

general lack of trust in society does not help and 

contributes to an increasing lack of trust in the 

workplace. Creating an environment of trust and 

inclusivity, therefore, where individuals feel genuinely 

free to make suggestions and propose ideas and 

solutions for better ways of working will be essential, 

but none of those ideas will be forthcoming without 

that basic level of trust being in place. 

THE VITAL IMPORTANCE 

OF INCLUSIVITY 

This concept of inclusivity is particularly important; 

hybrid working means individuals being ‘absent’ 

from the workplace, at least physically, and there is a 

natural tendency for leaders to ‘forget’ employees who 

are ‘out of sight; out of mind’. 

The report from Deloitte suggests that almost 60 

percent of women who work in hybrid environments 

feel they have been excluded from important meetings, 

and almost half say they do not have exposure to their 

leaders, a critical enabler of sponsorship and career 

progression. Only a quarter of those women surveyed 

for the report say their employer has set clear 

expectations of how and where they should work, 

which is particularly stressful for those who need 

some certainty in order to plan childcare, for example. 

It needn’t be so. Inclusive, supportive organisations 

are proven to gain a competitive advantage. Leaders, in 

particular, have a crucial role in this. Being inclusive 

in a hybrid workplace context requires leaders not only 

to be able to read signals and observe behaviours, but 

also to act upon them; it requires them to enhance their 

listening skills and improve how they communicate; 

and ultimately it requires them to become a source of 

clarity in setting goals and expectations as well as a 

source of inspiration for the employees. 

Leaders who foster genuinely inclusive cultures, 

and who support the health and wellbeing of 

their employees, deliver much greater employee 

satisfaction, and employees tend to stay with those 

organisations for longer. They also tend to report a 

much more positive experience of hybrid working. 

SHAPING THE FUTURE WORKSPACE 

Hybrid working at its best can be a tool to unleash the 

true potential of an organisation. It means not only 

adapting the days and hours that we work, but also the 

workplace itself. 

Many leaders are currently debating whether the 

space they had prior to the pandemic is still needed 

now, when actually the conversation should be 

about how to make the space that you do have more 

conducive to work. It will likely mean that the physical 

space in the future may be near enough the same 

size, but likely to be fitted out and utilised in a very 

different way by the people who work there. 

Leaders who see the concept of hybrid working 

only in the context of ‘efficiency’ are fundamentally 

missing the point. The debate should never be focused 

mainly on the efficiency of the workforce, but rather 

consider its ‘effectiveness’. Systems and technologies 

can help improve efficiency over time, whereas it will 

still be people – regardless of where they work - who 

will secure the effectiveness of the decisions and of 

the implementation plans. 

The winners in the future will be those organisations 

who embrace this idea first, who ensure the proper 

policies and processes are in place that encourage new 

ways of working, and in doing so attract and retain the 

talent we all so desperately need to succeed in the 

future. 

Simona Scarpaleggia is a Board Member of EDGE 

Strategy and former CEO of IKEA in Switzerland. 


CAREERS 

Standing out 

from the crowd 

How to write a winning job advert. 

AUTHOR – Natascha Whitehead 

FIRST, use a common, searchable job title – and include 

the location such as Credit Controller, London, or 

Credit Underwriter, Manchester. This will help to 

ensure your job advert is searched for and found by 

relevant candidates across the country using search 

engines such as cv-library, totaljobs, Google, and Bing. 

Make sure the job advert’s body content is clear, succinct, 

relevant and includes commonly searched keywords. It also needs 

to be easy to read, and in this digital world scanned quickly by 

job hunters. So consider how you will structure the advert – for 

example using bullet points. This is essential for ensuring it ranks 

well in relevant online searches. 

When deciding what information to prioritise in the body of the 

advert, ask yourself what credit professionals would really find 

valuable, and what would incentivise them to apply. 

Whilst it’s tempting to include all the information about your 

organisation you can think of, remember that candidates are 

looking for information that affects their day-to-day life, such as 

what the work involves, what skills are needed, what success in the 

role looks like and what potential career path it holds? Job seekers 

are also interested in the principles of the company culture, as 

much as the compensation and benefits on offer. 

Connect the job with your company’s strategic priorities. What 

are the broader objectives of your organisation, and how does this 

role help to achieve them? This, in turn, will enable your company 

to showcase its innovation. 

Now, on to the type of language that I’d advise using in a job ad… 

Writing a job description is – in essence – professional writing, 

so there are certain rules that should be followed when composing 

one. 

When crafting a job description, remember to use empathetic 

language. Using compassionate language in your job advert is an 

opportunity for your organisation to show that your brand has a 

human face and that people are your first priority. Using language 

that depicts working as a team or a collective is also important. 

Avoid negative language. Words such as ‘can’t’, ‘never’, and ‘must’ 

imply, in an underlying way, that you are demanding things from 

the candidate or telling them what to do. 

Make sure diverse imagery and language are included and use 

first or second-person language. Third-person language is too 

formal and creates a gulf between you and prospective candidates, 

whereas a first or second-person approach helps candidates see 

themselves in the role. Saying ‘we will…’ or ‘you will…’ feels much 

more personable than ‘the successful candidate will…’. 

And finally, include the salary in your job description! Our March 

2022 Quarterly Insights Survey of over 9,000 respondents revealed 

that more than a quarter (26 per cent) of candidates would not 

consider applying for a role that didn’t have a salary listed within 

the job advert. 

Including this information within the job description helps job 

seekers decide whether the role is what they are after – both in a 

pragmatic sense (i.e., will it cover the bills) and whether it has an 

appropriate seniority level. 

❝ 

Whilst it’s tempting to 

include all the information about 

your organisation you can think 

of, remember that candidates 

are looking for information that 

affects their day-to-day life, 

such as what the work involves, 

what skills are needed, what 

success in the role looks like and 

what potential career path it 

holds? 

❝ 

Natascha Whitehead is Business Director 

& UK Channel Lead of Hays Credit Management. 


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LOOKING FOR 

YOUR NEXT 

CAREER MOVE? 

ACCOUNTS RECEIVABLE MANAGER 

Pembrokeshire, £30,000-£40,000 

Due to restructure, a skilled Accounts Receivable Manager 

with some really robust exposure to ‘hands on’ Credit Control is 

required to join a growing business. You will have experience of 

running a small team, but equally will not be adverse to picking up 

the phone and making a few calls. This is a fully office based role, 

so a locally based candidate is essential. 

Ref: 4263242 

Contact Emma Lewis on 01792 642042 

or email emma.lewis@hays.com 

CREDIT CONTROLLER 

Manchester City Centre, £26,000-£28,000 

This role is an ideal fit for someone who is looking for a role 

within a rapidly growing business with great opportunity to 

progress their career. This comes in the form of supervisory roles 

becoming available due to growth and study support funded by 

the business. Other perks include hybrid working (2 days a week 

in the office), flexibility on working hours and much more! 

Ref: 4159739 

Contact Adam Crossland on 07496 731011 

or email adam.crossland@hays.com 

SOLE CREDIT CONTROLLER 

Central London, £30,000-£35,000 

This start up insurance firm is looking to develop a credit 

department and establish debt collection procedures. This role will 

come in and establish the credit department, build up processes 

and functions, and be responsible for the collection of company 

debts. With future opportunities to build a team out around you, 

this is an ideal role for a progressive and driven credit controller. 

Ref: 4256321 

Contact Daniel Lee on 020 3465 0020 

or email daniel.lee1@hays.com 


Chessington, £29,000 + bonus 

Managing a ledger of approximately 300 live accounts you will 

be responsible for generating maximum cash flow, minimising 

bad debt and providing a high standard of customer service 

to both external and internal contacts. Your varied role will 

also include raising invoices and preparing statements. 

Hybrid working arrangements are also offered, along with 

excellent career development opportunities. 

Ref: 4152072 

Contact Mark Ordona on 020 8247 4042 

or email mark.ordona@hays.com 

hays.co.uk/creditcontrol 

© Copyright Hays plc 2022. The HAYS word, the H devices, HAYS WORKING Brave | FOR Curious YOUR | Resilient TOMORROW / www.cicm.com and Powering the world / September of work and 2022 associated / PAGE 50 logos and artwork are trademarks of Hays plc. 

The H devices are original designs protected by registration in many countries. All rights are reserved. CM-1126302156

BILLINGS AND COLLECTIONS MANAGER 

Chertsey, up to £47,000 + bonus and benefits 

Running a team of seven, you will take full responsibility for all 

aspects of the order to cash function. 80% of this role will focus 

on the complex billing process, therefore will suit a candidate 

who is highly skilled in this area. Great opportunity for a driven 

candidate to raise the profile of the department and progress 

their own career in a market leading business. 

Ref: 4169888 

Contact Natascha Whitehead on 07770 786433 

or email natascha.whitehead@hays.com 


Basingstoke, £27,000 + excellent bonus structure 

Due to continuous growth, a market leading technology business 

is expanding the team and wants to recruit a future star. They are 

looking for a hardworking and progressive credit controller who can 

work to targets and build positive relationships with both the sales 

team and the customer base. Your hard work will be rewarded with 

an excellent bonus structure and career development. 

Ref: 4246379 

Contact Natascha Whitehead on 07770 786433 

or email natascha.whitehead@hays.com 

This is just a small selection of the many opportunities 

we have available for credit professionals. To find out 

more, visit our website or contact Natascha Whitehead, 

Credit Management UK Lead at Hays on 07770 786433. 


BRANCH NEWS 

Big Credit Management review 

Annual Kent Branch 

A 

glorious sunny day in 

mid-June brought around 

70 members and guests 

to the Law Society in 

Chancery for the annual 

Kent Branch event. 

Charles and Joshua Mayhew, from 

Global Credit Recoveries, ensured a 

lively start to proceedings by running a 

20-minute speed networking session over 

coffee and pastries, which set the tone for 

a highly successful occasion. 

The multi-talented Charles then acted 

as MC for the main presentations and 

introduced Annie Lagrue, Branch Chair, 

who formally welcomed everybody to a 

packed programme of talks covering the 

‘hot topics’ of the day. 

Tracey Westell, Branch Vice-Chair, 

took us ‘back to basics’ and espoused the 

importance of training and developing 

staff to improve knowledge and skills 

for the benefit of both the employer 

and the employee. The CICM’s new 

training courses and platforms were also 

highlighted to the audience. 

Matthew White of Cforia then led 

us on a journey to explain how the 

COVID-19 virus has accelerated the global 

AUTHOR – Kevin Artlett FCICM ACII 

digitisation of customer interactions by 

about seven years. Following on from 

this, the audience was treated to a clear 

explanation on understanding the use 

and advantages of utilising Artificial 

Intelligence (AI) in cash application with 

some practical examples. 

As witnessed in the Question & Answer 

session at the end of the presentations, 

Natascha Whitehead, Business Director at 

Hays, attracted several queries from the 

floor after presenting the Employment 

Update as of June 2022. The key message 

which people took away was that even 

though job vacancies are up 40 percent 

on pre-COVID levels and candidates have 

never faced less competition, the onus is 

on those looking for jobs to top up those 

qualifications and really ‘sell themselves’ 

to the hiring managers. 

Dan Hancocks, Managing Director of 

CoCredo gave a fascinating insight into the 

differing opinions of Credit References 

Agencies on the same companies and 

explained how they reviewed the strengths 

and weaknesses of each provider in more 

detail. In addition, Dan provided some 

top tips on how to counteract this and 

other ‘burning issues’ such as collecting 

data from as many sources as possible. 

The final slot was delivered by 

Alan J Smith, Chair of the High Court 

Enforcement Officers Association, giving 

an update on High Court Enforcement 

and Commercial Rent Arrears following 

the pandemic. This encompassed 

the regulations and guidelines which 

were introduced specially, when the 

moratoriums on residential evictions 

and commercial rent arrears recovery 

and forfeiture were lifted and ended 

with a plea to support court users who 

would like the freedom of choice to use 

either a County Court Bailiff or a High 

Court Enforcement Office to enforce any 

judgment. 

A brief question and answer session 

followed the talks before several of the 

guests then adjourned for much-needed 

refreshments in a local hostelry. 

Thanks again must go to the sponsors: 

Global Credit Recoveries, TG Baynes 

Solicitors, Henderson Chambers, and 

the High Court Enforcement Officers 

Association. 

Kevin Artlett FCICM ACII 

Secretary CICM Kent Branch. 

Doing nothing is not an option 

East of England Branch Webinar 

WHAT lies ahead during these 

unprecedented times and best practice 

when faced by Corporates Insolvencies 

were the key themes of a webinar 

presented by Steve Walsh, Annabel Gray 

and Dilip Dattani of RSM UK Creditor 

Solutions LLP. At the heart of the webinar 

was the serious message that 2022 is a 

tough year, with no signs of easing. The 

option of doing nothing is one to swerve 

in favour of understanding the warning 

signs when businesses get in trouble and 

acting to ‘protect your position’. 

The team walked us through the Decline 

Curve – as corporate health declines, 

options available decrease. We were 

shown the six key signs when businesses 

get in to trouble and eight tips on how to 

handle this. 

Key takeaways included identifying 

where a business is on the decline curve, 

engaging customers without delay and 

taking advice promptly where a business 

is in a stage of decline. The section on 

Corporate Insolvency was extremely 

useful, taking us through the definition of 

insolvency (defined by S.123 Insolvency 

Act 1986). I am sure many of us didn’t 

know the rescue procedures and end 

of life procedures plus the role of an 

Insolvency Practitioner. 

There was an excellent segment on 

fraud – how to identify it and the steps 

to take. Knowing definitively what fraud 

is, the warning signs and information 

gathering was topped off with the key 

actions to take for a known fraud existing 

client. The questions that followed 

showed how valuable the webinar was 

and how it had really made us think about 

applying the tips in a work context. 

Take advantage of the excellent handout 

provided by the team at RSM by emailing 

Steve.Walsh@rsmuk.com and requesting 

a copy. 

Andy Moylan FCICM 

CICM East of England Branch. 


THE West Midlands Branch Annual Awards 

Night was held at Primitivo Bar & Restaurant 

on June 15, to present awards in respect of 

exam results attained in 2021. It was also the 

occasion to present Kim Delaney-Bowen with 

her Meritorious Service award in recognition of 

her invaluable service to CICM at Branch level 

and H.O level. 

The exam results awards are presented to try 

to encourage members to become more active 

within CICM and help develop their careers by 

making new contacts who can help them on 

the road to qualification. This year was a small 

event because overall results were lower than 

usual and we decided not to lower our expected 

threshold for members to be considered for a 

prize. Also two winners were unable to attend 

and will be presented with their prize and 

certificates at a future event. 

Along with Kim, Charlotte Sweeney was 

presented with a prize for highest marks 

in accounting principles, Kelly Booth was 

presented with her prize for highest marks 

in business environment (she was last year’s 

Student of the Year and also joined our 

committee) and Jack Tristram won his prize for 

highest marks in consumer collections. 

BRANCH NEWS 

Winners all! 

West Midlands Branch 

AUTHOR – Peter Cartwright 

The CICM Benevolent Fund is 

here to support members of 

the CICM in times of need. 

Some examples of how CICM have helped our members are: 

• Financed the purchase of a mobility scooter for a disabled member. 

• Helped finance the studies of the daughter of a member who 

became unexpectedly ill. 

• Financed the purchase of computer equipment to assist an 

unemployed member set up a business. 

• Contributed towards the purchase of an orthopaedic bed for one 

member whose condition was thereby greatly eased. 

• Helped with payment for a drug, not available on the NHS, for 

medical treatment of another member. 

If you or any dependants are in need or in distress, please apply today – we are here to 

help. (Your application will then be reviewed by the CICM Benevolent Fund committee and 

you will be advised of their decision as quickly as possible) 


HR MATTERS 

Striving for Equality 

A case that draws a line between protecting philosophical 

beliefs and respecting the law, and another that shows how 

Long COVID might be classified as a disability. 

AUTHOR – Gareth Edwards 

LONG COVID is a condition 

that is likely to take some 

time to fully understand. It 

can be difficult for employers 

to navigate issues relating to 

Long COVID in the workplace 

because it is a condition that affects 

sufferers very differently. We are now 

beginning to see the first claims coming 

up through the Tribunals. 

In the claim of Burke v Turning Point 

Scotland, Mr Burke was employed as a 

caretaker. He tested positive for COVID-19 

in November 2020. He began to deteriorate 

towards the end of his isolation period 

and was unable to return to work. His 

symptoms, which were described as 

'unpredictable', included joint pain, loss 

of appetite, reduced ability to concentrate, 

fatigue and exhaustion. Although Burke 

continued to provide fit notes from his GP 

to evidence his inability to return to work 

during his period of sick leave, Turning 

Point began to question the validity of 

his symptoms. Two occupational health 

reports were requested by the employer. 

These stated he was fit to return to work 

and unlikely to be disabled under the 

Equality Act. However, due to his ongoing 

symptoms, Burke did not in fact return to 

work. He was dismissed in August 2021. 

The Tribunal concluded Burke was 

disabled during the relevant period. He had 

a physical impairment (post-viral fatigue 

syndrome caused by COVID-19) which had 

an adverse effect on his ability to carry out 

normal day-to-day activities. The adverse 

effect was more than minor or trivial, and 

it was long term. Burke had no incentive to 

remain off work having exhausted his sick 

pay. The Tribunal considered he was not 

exaggerating his symptoms. 

This case is a helpful illustration of when 

Long COVID symptoms might qualify a 

person as disabled for the purposes of the 

Equality Act. The fact symptoms might 

fluctuate will not automatically prevent a 

person from being classed as disabled. 

Employers should seek medical advice 

to understand an employee's condition if 

they are suffering from Long COVID. As 

part of this advice, employers should ask 

whether there are any adjustments that 

might help the employee return to, or 

remain in, work. The employer can then 

take a decision on whether any proposed 

adjustments are reasonable. 

This case is a helpful illustration of when Long COVID symptoms might qualify a person 

as disabled for the purposes of the Equality Act. The fact symptoms might fluctuate will not 

automatically prevent a person from being classed as disabled. 

The Equality Act and law breaking 

AN ethical vegan who believed she was under 

an obligation to expose and reduce animal 

suffering by breaking the law, did not qualify 

for protection under the Equality Act. 

In the case of Free Miles v The Royal Veterinary 

College (RVC), Ms Free Miles was dismissed by 

the RVC following her arrest in connection with 

alleged burglaries by the Animal Liberation 

Front. Free Miles argued her belief in ethical 

veganism included a moral obligation to 

take action to reduce animal suffering. She 

brought Tribunal claims including a claim 

for direct and indirect philosophical belief 

discrimination. 

In order to succeed in her claims, the 

Tribunal would have had to accept that Free 

Miles' beliefs amounted to a philosophical 

belief under section 10 of the Act. 

Religion or belief (including philosophical 

belief) is a protected characteristic under the 

Act. The 2010 case of Grainger v Nicholson set 

out the five criteria for establishing the types of 

philosophical belief that will be protected under 

the framework in the Act (the Grainger criteria): 

The belief must be genuinely held; it must be 

a belief and not an opinion or viewpoint based 

on the present state of information available; it 

must be a belief as to a weighty and substantial 

aspect of human life and behaviour; it must 

attain a certain level of cogency, seriousness, 

cohesion and importance; and it must be 

worthy of respect in a democratic society, not 

be incompatible with human dignity and not 

conflict with the fundamental rights of others. 

The final Grainger criterion was significant to 

the Tribunal’s decision in Free Miles' case. 

The Tribunal found ethical veganism can be 

a protected philosophical belief under the Act. 

However, Free Miles' belief included a belief she 

was under an obligation to break the law. Her 

belief therefore did not satisfy the fifth element 

of the Grainger test. 

What can employers learn from this decision? 

This is a first instance decision, so it will not 

be binding on other tribunals. Nevertheless, 

it is a logical decision that offers a useful 

demonstration of where the line is drawn 

between protecting philosophical beliefs and 

maintaining a wider respect for the law. 

Gareth Edwards is a partner in the 

employment team at VWV. 


IN 

ASSOCIATION 

WITH 

UKCCC 

2022 

RADISSON BLU 

MANCHESTER AIRPORT 

#ukccc2022 


AWARDS 

2022

Cr£ditWho? 

CICM Directory of Services 

COLLECTIONS 

COLLECTIONS LEGAL 

CREDIT INFORMATION 

Controlaccount Plc 

Address: Compass House, Waterside, Hanbury Road, 

Bromsgrove, Worcestershire B60 4FD 

T: 01527 386 610 

E: sales@controlaccount.com 

W: www.controlaccount.com 

Controlaccount plc has been providing efficient, effective and 

ethical pre-legal debt recovery for over forty years. We help our 

clients to improve internal processes and increase cashflow, 

whilst protecting customer relationships and established 

reputations. We have long-standing partnerships with leading, 

global brand names, SMEs and not for profits. We recover 

over 30,000 overdue invoices each month, domestically and 

internationally, on a no collect, no fee arrangement. Other 

services include credit control and dunning services, international 

and domestic trace and legal recoveries. All our clients have 

full transparency on any accounts placed with us through our 

market leading cloud-based management portal, ClientWeb. 

BlaserMills Law 

High Wycombe | Amersham | Marlow | Silverstone 

Rickmansworth | London 

Jackie Ray : 07802 332104 | 01494 478660 

jar@blasermills.co.uk 

Nina Toor : 01494 478661 nit@blasermills.co.uk 

Edward Bible : 07766 013352 ceb@blasermills.co.uk 

www.blasermills.co.uk 

Commercial Recoveries & Insolvency 

Blaser Mills Law’s commercial recoveries team is internationally 

recognised, regularly advising large corporations, multinationals 

and SMEs on pre-legal collections, debt recovery, commercial 

litigation, dispute resolution and insolvency. Our legal services 

are both cost-effective and highly efficient; Our lawyers are also 

CICM qualified and ranked in the industry leading law firm rankings 

publications, Legal 500 and Chambers UK. 

CoCredo 

Missenden Abbey, Great Missenden, Bucks, HP16 0BD 

T: 01494 790600 

E: customerservice@cocredo.com 

W: www.cocredo.co.uk 

Celebrating its 20th year in business, CoCredo has extensive 

experience in providing online company credit reports and 

related business information within the UK and overseas. In 2014 

and 2019 we were honoured to be awarded Credit Information 

Provider of the Year at the British Credit Awards and have been 

finalists every other year. Our company data is continually updated 

throughout the day and ensures customers have the most current 

information available. We aggregate data from a range of leading 

providers across over 235 territories and offer a range of services 

including the industry first Dual Report, Monitoring, XML Integration 

and DNA Portfolio Management. 

We pride ourselves in offering award-winning customer service and 

support to protect your business. 

Global Credit Recoveries 

GCR 20-22 Wenlock Road, 

London N1 7GU 

Charles Mayhew FCICM or Joshua Mayhew ACICM 

T: +44 (0) 203 368 8630 

E: INFO@GLOBALCREDITRECOVERIES.COM 

W: WWW.GLOBALCREDITRECOVERIES.COM 

Shortlisted as DCA of the Year, by the CICM, for the British Credit 

Awards, Global Credit Recoveries Ltd are specialists in Arbitration 

and Debt Collection globally. 

We specialise in the UK, Europe, The Middle East and the U.S.A, 

working as an extension of many CICM members companies for 

over 28 years. 

Speak with us today in our London or Dubai offices, to see how 

we can assist you. 

We have the ability, and network, to have someone visiting your 

debtors offices, throughout EMEA, within 72 hours. 

Recovering funds globally, on a No-Recovery, No-Fee basis. 

Lovetts Solicitors 

Lovetts, Bramley House, The Guildway, 

Old Portsmouth Road, 

Guildford, Surrey, GU3 1LR 

T: 01483 347001 

E: info@lovetts.co.uk 

W: www.lovetts.co.uk 

With more than 25yrs experience in UK & international business 

debt collection and recovery, Lovetts Solicitors collects £40m+ 

every year on behalf of our clients. Services include: 

• Letters Before Action (LBA) from £1.50 + VAT (successful in 86% 

of cases) 

• Advice and dispute resolution 

• Legal proceedings and enforcement 

• 24/7 access to your cases via our in-house software solution, 

CaseManager 

Don’t just take our word for it, here’s some recent customer 

feedback: “All our service expectations have been exceeded. 

The online system is particularly useful and extremely easy to 

use. Lovetts has a recognisable brand that generates successful 

results.” 

Company Watch 

Centurion House, 37 Jewry Street, 

LONDON. EC3N 2ER 

T: +44 (0)20 7043 3300 

E: info@companywatch.net 

W: www.companywatch.net 

Organisations around the world rely on Company Watch’s 

industry-leading financial analytics to drive their credit risk 

processes. Our financial risk modelling and ability to map medium 

to long-term risk as well as short-term credit risk set us apart 

from other credit reference agencies. 

Quality and rigour run through everything we do, from our unique 

method of assessing corporate financial health via our H-Score®, 

to developing analytics on our customers’ in-house data. 

With the H-Score® predicting almost 90 percent of corporate 

insolvencies in advance, it is the risk management tool of choice, 

providing actionable intelligence in an uncertain world. 

CONSULTANCY 

Guildways 

T: +44 3333 409000 

E: info@guildways.com 

W: www.guildways.com 

Guildways is a UK & International debt collection specialist with over 

25 years experience. Guildways prides itself on operating to the 

highest ethical standards and professional service levels. We are 

experienced in collecting B2B and B2C debts. Our service includes: 

• A complete No collection, No Fee commission based service 

• 10% plus VAT commission for UK debts 

• Commission from 22% plus VAT for International debts 

• 24/7 online access to your cases through our CaseManager portal 

• Direct online account-to-account payments, to speed up 

collections and minimise costs 

If you are unable to locate your customer, we also offer a no trace, no 

fee, trace and collect service. 

For more information, visit: www.guildways.com 

Cr£ditWho? 


Chris Sanders Consulting 

T: +44(0)7747 761641 

E: enquiries@chrissandersconsulting.com 

W: www.chrissandersconsulting.com 

Chris Sanders Consulting – we are a different sort of consulting 

firm, made up of a network of independent experienced 

operational credit & collections management and invoicing 

professionals, with specialisms in cross industry best practice 

advisory, assessment, interim management, leadership, 

workshops and training to help your team and organisation 

reach their full potential in credit and collections management. 

We are proud to be Corporate Partners of the Chartered Institute 

of Credit Management. For more information please contact: 

enquiries@chrissandersconsulting.com 

identeco – Business Support Toolkit 

Compass House, Waterside, Hanbury Road, Bromsgrove, 

Worcestershire B60 4FD 

Telephone: 01527 386 607 

Email: info@identeco.co.uk 

Web: www.identeco.co.uk 

identeco Business Support Toolkit provides company details 

and financial reporting for over 4m UK companies and 

business. Subscribers can view company financial health and 

payment behaviour, credit ratings, shareholder and director 

structures, detrimental data. In addition, subscribers can also 

download unlimited B2B marketing and acquisition reports. 

Annual subscription is only £79.95. Other services available 

to subscribers include AML and KYC reports, pre-litigation 

screening, trace services and data appending, as well as many 

others. 


FOR ADVERTISING INFORMATION OPTIONS 

AND PRICING CONTACT 

paul@centuryone.uk 01727 739 196 

CREDIT MANAGEMENT SOFTWARE 

CREDIT MANAGEMENT SOFTWARE 

ENFORCEMENT 

HighRadius 

T: +44 (0) 203 997 9400 

E: infoemea@highradius.com 

W: www.highradius.com 

HighRadius provides a cloud-based Integrated Receivable 

Platform, powered by machine learning and AI. Our Technology 

empowers enterprise organisations to reduce cycle time in the 

order-to-cash process and increase working capital availability by 

automating receivables and payments processes across credit, 

electronic billing and payment processing, cash application, 

deductions, and collections. 

Tinubu Square UK 

Holland House, 4 Bury Street, 

London EC3A 5AW 

T: +44 (0)207 469 2577 / 

E: uksales@tinubu.com 

W: www.tinubu.com 

Founded in 2000, Tinubu Square is a software vendor, enabler 

of the Credit Insurance, Surety and Trade Finance digital 

transformation. 

Tinubu Square enables organizations across the world to 

significantly reduce their exposure to risk and their financial, 

operational and technical costs with best-in-class technology 

solutions and services. Tinubu Square provides SaaS solutions 

and services to different businesses including credit insurers, 

receivables financing organizations and multinational corporations. 

Tinubu Square has built an ecosystem of customers in over 20 

countries worldwide and has a global presence with offices in 

Paris, London, New York, Montreal and Singapore. 

Credica Ltd 

Building 168, Maxell Avenue, Harwell Oxford, Oxon. OX11 0QT 

T: 01235 856400E: info@credica.co.uk W: www.credica.co.uk 

Our highly configurable and extremely cost effective Collections 

and Query Management System has been designed with 3 goals 

in mind: 

•To improve your cashflow • To reduce your cost to collect 

• To provide meaningful analysis of your business 

Evolving over 15 years and driven by the input of 1000s of 

Credit Professionals across the UK and Europe, our system is 

successfully providing significant and measurable benefits for our 

diverse portfolio of clients. 

We would love to hear from you if you feel you would benefit from 

our ‘no nonsense’ and human approach to computer software. 

ESKER 

Sam Townsend Head of Marketing 

Northern Europe Esker Ltd. 

T: +44 (0)1332 548176 M: +44 (0)791 2772 302 

W: www.esker.co.uk LinkedIn: Esker – Northern Europe 

Twitter: @EskerNEurope blog.esker.co.uk 

Esker’s Accounts Receivable (AR) solution removes the all-toocommon 

obstacles preventing today’s businesses from collecting 

receivables in a timely manner. From credit management to cash 

allocation, Esker automates each step of the order-to-cash cycle. 

Esker’s automated AR system helps companies modernise 

without replacing their core billing and collections processes. By 

simply automating what should be automated, customers get the 

post-sale experience they deserve and your team gets the tools 

they need. 

SERRALA 

Serrala UK Ltd, 125 Wharfdale Road 

Winnersh Triangle, Wokingham 

Berkshire RG41 5RB 

E: r.hammons@serrala.com W: www.serrala.com 

T +44 118 207 0450 M +44 7788 564722 

Serrala optimizes the Universe of Payments for organisations 

seeking efficient cash visibility and secure financial processes. 

As an SAP Partner, Serrala supports over 3,500 companies 

worldwide. With more than 30 years of experience and 

thousands of successful customer projects, including solutions 

for the entire order-to-cash process, Serrala provides credit 

managers and receivables professionals with the solutions they 

need to successfully protect their business against credit risk 

exposure and bad debt loss. 

FOR 

ADVERTISING 

INFORMATION 

OPTIONS AND 

PRICING CONTACT 

paul@centuryone.uk 

01727 739 196 

Court Enforcement Services 

Adele Whitehurst – Client Relationship Manager 

M: +44 (0)7525 119 711 T: +44 (0)1992 367 092 

E : a.whitehurst@courtenforcementservices.co.uk 

W: www.courtenforcementservices.co.uk 

Court Enforcement Services is the market leading and fastest 

growing High Court Enforcement company. Since forming in 2014, 

we have managed over 100,000 High Court Writs and recovered 

more than £187 million for our clients, all debt fairly collected. We 

help lawyers and creditors across all sectors to recover unpaid 

CCJ’s sooner rather than later. We achieve 39% early engagement 

resulting in market-leading recovery rates. Our multi-awardwinning 

technology provides real-time reporting 24/7. We work in 

close partnership to expertly resolve matters with a fast, fair and 

personable approach. We work hard to achieve the best results 

and protect your reputation. 

FINANCIAL PR 

Gravity Global 

Floor 6/7, Gravity Global, 69 Wilson St, London, EC2A 2BB 

T: +44(0)207 330 8888. E: sfeast@gravityglobal.com 

W: www.gravityglobal.com 

Gravity is an award winning full service PR and advertising 

business that is regularly benchmarked as being one of the 

best in its field. It has a particular expertise in the credit sector, 

building long-term relationships with some of the industry’s bestknown 

brands working on often challenging briefs. As the partner 

agency for the Credit Services Association (CSA) for the past 22 

years, and the Chartered Institute of Credit Management since 

2006, it understands the key issues affecting the credit industry 

and what works and what doesn’t in supporting its clients in the 

media and beyond. 

FORUMS 

Data Interconnect Ltd 

45-50 Shrivenham Hundred Business Park, 

Majors Road, Watchfield. Swindon, SN6 8TZ 

T: +44 (0)1367 245777 

E: sales@datainterconnect.co.uk 

W: www.datainterconnect.com 

We are dedicated to helping finance teams take the cost, 

complexity and compliance issues out of Accounts Receivable 

processes. Corrivo is our reliable, easy-to-use SaaS platform 

for the continuous improvement of AR metrics and KPIs in a 

user-friendly interface. Credit Controllers can manage more 

accounts with better results and customers can self-serve on 

mobile-responsive portals where they can query, pay, download 

and view invoices and related documentation e.g. Proofs of 

Delivery Corrivo is the only AR platform with integrated invoice 

finance options for both buyer and supplier that flexes credit 

terms without degrading DSO. Call for a demo. 

VISMA | ONGUARD 

T: 020 3966 8324 

E: edan.milner@onguard.com 

W: www.onguard.com 

VISMA | Onguard is a specialist in credit management software 

and market leader in innovative solutions for order-to-cash. Our 

integrated platform ensures an optimal connection of all processes 

in the order-to-cash chain. This enhanced visibility with the secure 

sharing of critical data ensures optimal connection between all 

processes in the order-to-cash chain, resulting in stronger, longerlasting 

customer relationships through improved and personalised 

communication. The VISMA | Onguard platform is used for 

successful credit management in more than 70 countries. 

FORUMS INTERNATIONAL 

T: +44 (0)1246 555055 

E: info@forumsinternational.co.uk 

W: www.forumsinternational.co.uk 

Forums International Ltd have been running Credit and Industry 

Forums since 1991. We cover a range of industry sectors and 

International trading, attendance is for Credit Professionals of all 

levels. Our forums are not just meetings but communities which 

aim to prepare our members for the challenges ahead. Attending 

for the first time is free for you to gauge the benefits and meet the 

members and we only have pre-approved Partners, so you will 

never intentionally be sold to. 

Cr£ditWho? 



Cr£ditWho? 


FOR ADVERTISING INFORMATION 

OPTIONS AND PRICING CONTACT 


INSOLVENCY 

PAYMENT SOLUTIONS 

RECRUITMENT 

Menzies 

T: +44 (0)2073 875 868 - London 

T: +44 (0)2920 495 444 - Cardiff 

W: menzies.co.uk/creditor-services 

Our Creditor Services team can advise on the best way for you 

to protect your position when one of your debtors enters, or 

is approaching, insolvency proceedings. Our services include 

assisting with retention of title claims, providing representation 

at creditor meetings, forensic investigations, raising finance, 

financial restructuring and removing the administrative burden 

– this includes completing and lodging claim forms, monitoring 

dividend prospects and analysing all Insolvency Reports and 

correspondence. 

For more information on how the Menzies Creditor Services 

team can assist, please contact Bethan Evans, Licensed 

Insolvency Practitioner, at bevans@menzies.co.uk or call 

+44 (0)2920 447 512. 

LEGAL 

Shoosmiths 

Email: paula.swain@shoosmiths.co.uk 

Tel: 03700 86 3000 W: www.shoosmiths.co.uk 

Shoosmiths’ highly experienced team will work closely with credit 

teams to recover commercial debts as quickly and cost effectively 

as possible. We have an in depth knowledge of all areas of debt 

recovery, including: 

•Pre-litigation services to effect early recovery and keep costs 

down 

•Litigation service 

•Post-litigation services including enforcement 

•Insolvency 

As a client of Shoosmiths, you will find us quick to relate to your 

goals, and adept at advising you on the most effective way of 

achieving them. 

Bottomline Technologies 

115 Chatham Street, Reading 

Berks RG1 7JX | UK 

T: 0870 081 8250 E: emea-info@bottomline.com 

W: www.bottomline.com/uk 

Bottomline Technologies (NASDAQ: EPAY) helps businesses 

pay and get paid. Businesses and banks rely on Bottomline for 

domestic and international payments, effective cash management 

tools, automated workflows for payment processing and bill 

review and state of the art fraud detection, behavioural analytics 

and regulatory compliance. Businesses around the world depend 

on Bottomline solutions to help them pay and get paid, including 

some of the world’s largest systemic banks, private and publicly 

traded companies and Insurers. Every day, we help our customers 

by making complex business payments simple, secure and 

seamless. 

Key IVR 

T: +44 (0) 1302 513 000 E: sales@keyivr.com 

W: www.keyivr.com 

Key IVR are proud to have joined the Chartered Institute of 

Credit Management’s Corporate partnership scheme. The 

CICM is a recognised and trusted professional entity within 

credit management and a perfect partner for Key IVR. We are 

delighted to be providing our services to the CICM to assist with 

their membership collection activities. Key IVR provides a suite 

of products to assist companies across the globe with credit 

management. Our service is based around giving the end-user 

the means to make a payment when and how they choose. Using 

automated collection methods, such as a secure telephone 

payment line (IVR), web and SMS allows companies to free up 

valuable staff time away from typical debt collection. 

Hays Credit Management 

107 Cheapside, London, EC2V 6DN 

T: 07834 260029 

E: karen.young@hays.com 

W: www.hays.co.uk/creditcontrol 

Hays Credit Management is working in partnership with the CICM 

and specialise in placing experts into credit control jobs and 

credit management jobs. Hays understands the demands of this 

challenging environment and the skills required to thrive within 

it. Whatever your needs, we have temporary, permanent and 

contract based opportunities to find your ideal role. Our candidate 

registration process is unrivalled, including face-to-face screening 

interviews and a credit control skills test developed exclusively for 

Hays by the CICM. We offer CICM members a priority service and 

can provide advice across a wide spectrum of job search and 

recruitment issues. 

PORTFOLIO 

CREDIT CONTROL 

Portfolio Credit Control 

1 Finsbury Square, London. EC2A 1AE 

T: 0207 650 3199 

E: recruitment@portfoliocreditcontrol.com 

W: www.portfoliocreditcontrol.com 

Portfolio Credit Control, a 5* Trustpilot rated agency, solely 

specialises in the recruitment of Permanent, Temporary & Contract 

Credit Control, Accounts Receivable and Collections staff 

including remote workers. Part of The Portfolio Group, an awardwinning 

Recruiter, we speak to Credit Controllers every day and 

understand their skills meaning we are perfectly placed to provide 

your business with talented Credit Control professionals. Offering 

a highly tailored approach to recruitment, we use a hybrid of faceto-face 

and remote briefings, interviews and feedback options. 

We provide both candidates & clients with a commitment to deliver 

that will exceed your expectations every single time. 

PAYMENT SOLUTIONS 

American Express 

76 Buckingham Palace Road, 

London. SW1W 9TQ 

T: +44 (0)1273 696933 

W: www.americanexpress.com 

American Express is working in partnership with the CICM and is a 

globally recognised provider of payment solutions to businesses. 

Specialising in providing flexible collection capabilities to drive a 

number of company objectives including: 

• Accelerate cashflow • Improved DSO • Reduce risk 

• Offer extended terms to customers 

• Provide an additional line of bank independent credit to drive 

growth • Create competitive advantage with your customers 

As experts in the field of payments and with a global reach, 

American Express is working with credit managers to drive growth 

within businesses of all sectors. By creating an additional lever 

to help support supplier/client relationships American Express is 

proud to be an innovator in the business payments space. 

Cr£ditWho? 


YayPay by Quadient 

T: + 44 (0) 7465 423 538 

E: r.harash@quadient.com 

W: www.yaypay.com 

YayPay by Quadient makes it easy for B2B finance teams to stay 

ahead of accounts receivable and get paid faster – from anywhere. 

Integrating with your existing ERP, CRM, accounting and billing 

systems, YayPay organizes and presents real-time data through 

meaningful, cloud-based dashboards. These increase visibility 

across your AR portfolio and provide your team with a single 

source of truth, so they can access the information they need to 

work productively, no matter where they are based. 

Automated capabilities improve team efficiency by 3X and 

accelerate the collections process by making communications 

customizable and consistent. This enables you to collect cash 

up to 34 percent faster and removes the need to add additional 

resources as your business grows. 

Predictive analytics provide insight into future payer behavior to 

improve cash flow management and a secure, online payment 

portal enables customers to access their accounts and pay at any 

time, from anywhere. 

FIS GETPAID 

25 Canada Square 

London, GB E14 5LQ 

T: +447730500085 

E: getinfo@fisglobal.com. 

W: www.fisglobal.com 

The award-winning FIS GETPAID solution is a fully integrated, 

web-based order-to cash (O2C) solution that helps companies 

improve operational efficiencies, lower DSO, and increase cash 

flow. GETPAID provides process automation, artificial intelligence, 

and workflow across the O2C cycle, with detailed analysis and 

reporting for accurate cash forecasting. FIS is a global leader in 

financial services technology that empowers the financial world. 

For more information visit https://www.fisglobal.com/en/cashflowand-capital/credit-and-collections 

or email getinfo@fisglobal.com. 

FOR ADVERTISING 

INFORMATION 

OPTIONS AND 

PRICING CONTACT 



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Heeeeaad oooff Prroooffeeeessssiiooonaal Seeeerr viiceeees 

Raazvaannn-Coosstinnn 

Ioonnnesscu 

www.tcmgroup.com 

Probably thebest debt collection network worldwide 

Razvan-Costin 

Ionescu 

Semnat digital de Razvan- 

Costin Ionescu 

Data: 2022.08.08 18:47:58 

+03'00' 

Moneyknows no borders—neither do we 


Protect your 

cash flow 

Efficient credit management is key to maintaining your 

business cashflow. Avoid common credit management 

frustrations such as: 

Difficultly accessing accurate customer credit data 

Complicated payment collection processes 

Pressure for speedy processing 

£ 

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WHITE PAPER 

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CM September 2022 Credit Management

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