CM March 2025

CREDIT MANAGEMENT

CM

MARCH ISSUE 2025

THE CICM MAGAZINE FOR CONSUMER AND

COMMERCIAL CREDIT PROFESSIONALS

Inside

Winners of the

CICM British

Credit Awards

Pgs 31-51

Eyes on

the Prize

Ethiopia – a land

of opportunity?

What hopes for the new

Fair Payment Code?

Page 14

Sean Feast FCICM speaks to

the new Executive Board Chair

Page 16

Ethical and efficient debt recovery solutions to help

organisations improve cash-flow, increase productivity

and reduce overheads

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Recovery

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Services

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Software

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controlaccount.com

SEAN FEAST FCICM

MANAGING EDITOR

Editor’s column

ENOUGH OF

THE ‘STRATEGIC

REVIEWS’

LOG on to Zing.me when you have a

spare moment, and you’ll find a simple

message that says ‘goodbye’. The message

goes on to thank all of its Zing members

for their support, and that they will

be missed.

In case you have no idea what I am talking about, Zing

is – or should I say ‘was’ – an attempt by HSBC to break

into the travel money and international payments space

currently ‘owned’ by the likes of Revolut and Wise. It will

be closing its virtual doors at the end of May, just a year

or so after it launched.

Zing is closing, according to media reports, because of

‘changes in strategic business priorities’ against a background

of a new CEO who seems to be making sweeping changes

throughout the bank.

Notwithstanding the CEO’s excuses, I am surprised that

Zing has failed so quickly, because however you dress it up,

that is the reason for its closure. It has failed to gain the

momentum and scale needed to succeed or for the CEO

to consider it a ‘strategic imperative’. There are, I am led

to believe, other issues going on behind the scenes with

regards cost and compliance, but I would imagine it ran

out of steam because no-one could be especially bothered

to stoke the boiler.

The reason for my slightly cynical view is because

HSBC is not the first – and probably won’t be the last

– of the big banks to take on the Fintechs and fail. And

you don’t even have to look too far into the dim and

distant past.

In 2021, Santander pulled the plug on its international

money transfer service PagoFX, just 18 months after its

somewhat quirky name was first mooted. It was billed at

the time as a key challenger in the FX space, with its eyes

fixed firmly on taking market share from Wise. It failed,

you will not be surprised to learn, because of a yet another

‘strategic review’, which we now know is code for ‘we didn’t

get enough customers.’

So why have both services failed when there appears to

be such ample demand? What is it about the big banks

that make them fail when taking on their much smaller

competitors?

The rationale that both HSBC and Santander used in

launching their respective products was sound. The principal

advantage they have over any ‘new kid on the block’ (with

apologies to Jordan Knight and his brother who are no

doubt still ‘hanging tough’) is trust, and when it comes to

handling your money, trust is rather important. The logic

is simple that ‘if you trust us to do that, then you can trust

us to do this’.

For some reason, however, trust on its own simply isn’t

enough. Consumers and businesses seem to want variety, and

oddly – while they may trust their High Street bank not to

fail, they don’t trust them with tech, and they don’t believe

that they are going to be treated as anything special. They

are, I would imagine, tired of empty promises, especially as

they see branches close and regional managers disappear for

no discernible uptick in service. So if I were a banking CEO,

I’d stick to the knitting, and keep to what you’re good at.

Just do the basic banking bit well. And then you won’t be

obliged to conduct any more humiliating ‘strategic reviews’.

Brave | Curious | Resilient / www.cicm.com /March 2025 / PAGE 3

contents

March 2025 issue

10 – FACE VALUE

The Importance of valuations for Insolvency

Practitioners.

12 – A PROBLEM SHARED

Construction firms share their payment

experiences.

14 – FAIR PLAY

What hopes for the new Fair

Payment Code?

16 – THE BEAT MASTER

Sean Feast FCICM speaks to Neil Jinks FCICM

about credit management and the importance

of Fellowship.

20 – COUNTRY FOCUS

Ethiopia: A hidden gem of history, culture,

and influence.

24 – COLLECTIONS UNPLUGGED

Tackling the UK’s utility debt crisis with

empathy, efficiency and AI.

28 – ENFORCEMENT

Supporting growth, funding public services

and underpinning the rule of law.

57 – WORK IT OUT

Navigating Right to Work checks.

63 – PAYMENT TRENDS

Late payment figures on the rise across

the UK and Ireland.

10

INSOLVENCY

The Importance of valuations

for Insolvency Practitioners.

14

FAIR PLAY What

hopes for the new Fair

Payment Code?

16

THE BEAT MASTER

Sean Feast FCICM speaks

to Neil Jinks FCICM about

credit management

and the importance of

Fellowship.

THE CICM

BRITISH CREDIT

AWARDS 2025

SUPPLEMENT SPECIAL

31

CICM BRITISH CREDIT

AWARDS 2025


Brave | Curious | Resilient / www.cicm.com / March 2025 / PAGE 31

Eth

continues on next page >

CICM GOVERNANCE

President: Stephen Baister FCICM

Chief Executive: Sue Chapple FCICM

Executive Board: Chair Neil Jinks FCICM

Vice Chair: Allan Poole FCICM

Treasurer: Glen Bullivant FCICM

Larry Coltman FCICM

Peter Gent FCICM(Grad)

Paula Swain FCICM

Advisory Council: Laurie Beagle FCICM

Laura Brown MCICM(Grad) / Arvind Kumar MCICM(Grad)

Natalie Bunyer FCICM / Glen Bullivant FCICM

Alan Church FCICM(Grad) / Larry Coltman FCICM

Peter Gent FCICM(Grad) / Neil Jinks FCICM

Martin Kirby FCICM / Charles Mayhew FCICM

Joshua Mayhew MCICM / Hans Meijer FCICM

Debbie Nolan FCICM(Grad) / Amanda Phelan FCICM(Grad)

Allan Poole FCICM / Emma Reilly FCICM

Philip Roberts FCICM / Paula Swain FCICM

Jonathan Swan FCICM / Mark Taylor MCICM

Atul Vadher FCICM(Grad) / Dee Weston FCICM

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

20

iopia

COUNTRY FOCUS


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: Sean Feast FCICM

Deputy Editor: Iona Yadallee

Art Editor: Andrew Morris

Telephone: 01780 722910

Email: andrew.morris@cicm.com

Editorial Team

Rob Howard, Milica Cosic and

Melanie York

Advertising

Paul Heitzman

Telephone: 01727 739 196

Email: paul@centuryone.uk

Printers

Stephens & George Print Group

2025 subscriptions

UK: £138 per annum

International: £171 per annum

Single copies: £15.00

ISSN 0265-2099

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.

THE NEWS

CMNEWS

A round-up of news stories from the

world of consumer and commercial credit.

WRITTEN BY: SEAN FEAST FCICM

Government must improve

its debt collection practices

THE Government needs to improve

its methods for collecting debts to

help service users more effectively

and boost collections revenues.

Although public sector

collection practices are said to

have made progress in recent years,

they still continue to lag behind their private sector

counterparts.

A new report from the Credit Services Association

(CSA), the UK trade body for the debt collection and

debt purchase sector, praises the accomplishments of

the Government Debt Management Function and the

Treasury’s cross-Government ‘Fairness Group’, but

highlights the need for continued progress and a focus

on Local Government.

The report, Keeping Pace: Where next for public

sector collection practices?, identifies opportunities

for potential improvements, including expanding the

scope of the Government Debt Management Function’s

Fairness Charter, which sets high-level standards for

central Government departments recovering debt, to

include local Government.

Report author and CSA Head of Policy,

Daniel Spenceley, says that when it comes to debt

collection, the general public should be able to expect

similar treatment and similar support, regardless

of who they owe money to: “At present, that is not

the case, especially when it comes to vulnerability

support and forbearance for those in most need,” he

explains.

“We recognise the challenges faced by Government,

both central and local, when there are gaps in their

funding, and the pressure that this can place them

under. But the standards seen in private sector

collections demonstrate that better practices and

healthy recovery rates can go hand-in-hand.”

The CSA report also notes that Government

communication strategies, such as referencing potential

imprisonment or demanding a full year’s council tax

bill, may be hampering their own ability to generate

meaningful engagement with the public.


CREDIT MANAGEMENT

“The tone and content of collections

communication is often critical to

positive engagement with the individual,”

Daniel continues, “and local councils may

be shooting themselves in the foot by

starting their conversations in a needlessly

adversarial manner.

“We have long advocated for a

compassionate and constructive approach

to early arrears communications and

believe this would go some way to

improved engagement with councils and

Government departments.”

The report comes soon after the Autumn

2024 Budget in which the Chancellor

announced a very significant investment

into an additional 5,000 staff for HMRC

to enhance tax collection processes, which

they predict will bring in up to £2.7bn by

2029/3012, a return of more than half a

million pounds per new appointment.

The report comes

soon after the

Autumn 2024

Budget in which

the Chancellor

announced a

very significant

investment into

an additional

5,000 staff for

HMRC to enhance

tax collection

processes.

“The investment makes sense,” Daniel

told Credit Management, “when you

consider that more than £44bn is currently

due to HMRC – equating to approximately

£1,180 per UK working-age adult – but

if this vast resource is not used to

commission smart engagement and

specialist dialogue and communications

with the general taxpayer, it will be a

wasted opportunity.

“We urge HM Treasury and HMRC to

set out their operational proposals for the

deployment of this additional investment

and to incorporate measures that emulate

best practices in financial services

collections.”

HSBC shuts down

global payments venture

HSBC is shutting down its global

payments app Zing just a year after its

launch, putting hundreds of jobs at risk.

The bank’s Chief Executive, Georges

Elhedery, has signalled a series of changes

to drive down costs and significantly

restructure operations. One casualty

of this ‘restructure’ is Zing, created to

counter the competitive threat of money

apps like Wise and Revolut and serve

the needs of people who want to hold

funds in different currencies, send money

internationally, or spend in the UK and

abroad through a fintech.

The closure is understood to be putting

up to about 400 jobs at risk, including a

significant number of non-HSBC staff

contracted for customer support roles.

HSBC says it has plans in place to support

affected employees, including possible

opportunities to be redeployed elsewhere

within the business.

HSBC said the decision means Zing’s

underlying technology platform will

be integrated into the wider bank. A

Consumer and retail

fraud continue to rise

FRAUD offences have increased by 19

percent in the year ending September

2024, according to the latest Crime in

England and Wales figures from the

Office for National Statistics.

Almost four million offences were

recorded in the period, which included an

alarming 26 percent increase in consumer

and retail fraud since the previous report,

ending June 2024.

Chad Reimers, General Manager of

fraud & ID at TransUnion in the UK,

told Credit Management: “Over the past

year, the fraud landscape has evolved,

with social engineering, phone hacking,

and data breaches creating fertile ground

for bad actors. We know that fraud

typologies are increasing in sophistication

and complexity, particularly leveraging

online marketplaces as an entry point.

At the same time, firms are facing the

challenge of greater costs to operate

fraud prevention teams and reimburse

consumers for fraud losses.

“It is therefore crucial that businesses

and financial institutions continue

to challenge the status quo of fraud

prevention strategies and leverage

complementary data, analytical, and

spokesperson for the bank said the Zing

closure ‘forms part of the simplification

of the group’ announced in October.

‘HSBC is focused on increasing

leadership and market share in the

areas where it has a clear competitive

advantage, and where it has the greatest

opportunities to grow and support our

clients.’

Customers affected have received

little by way of support beyond a brief

statement on the website: ‘If you have

money in your account we recommend

that you transfer it to an alternative

account.’

technology capabilities to safeguard

against new and emerging threats.”

Despite the significant rise in fraud

activity, particularly in the consumer

space, Chad says it is also notable that

the reporting of fraud has remained

relatively flat: “This may demonstrate the

need for continued consumer awareness

programmes, and for consumers

themselves to take action, through the

monitoring of credit profiles.”

TransUnion’s Q4 2024 Consumer

pulse published in February found that

43 percent of UK adults reported being

targeted by online, email, phone call or

text messaging fraud attempts in the last

three months.


continues on page 8 >

THE NEWS

Experts predict UK

GDP will recover after

‘dismal’ 2024

GDP growth in the UK is

expected to gradually

pick up pace through

2025 after a dismal

2024. However, the

UK is still contending

with sticky inflation,

and inflation is not expected to pull back

before the second half of this year.

These are two of the key conclusions

drawn in a new publication from Allianz

Trade, the credit insurer, that looks at

country risk. Its Country Risk Atlas

suggests that the UK economy has fared

poorly over the past two years, hit by

multiple issues ranging from elevated

inflation, tight financial conditions,

restrictive fiscal policy and deteriorating

goods export competitiveness.

Furthermore, policy announcements

in 2024 have hit the private sector’s

confidence owing to upcoming large tax

hikes. Meanwhile, even though inflation

has retreated significantly from its past

peaks, it remains stubbornly above the

Bank of England (BoE)’s two percent

target. This means that the BoE has had

to remain more hawkish than many of its

central bank peers.

Still soft demand and easing inflation

should allow the BoE to step up its easing

cycle later in the year, with the BoE Bank

Rate expected to reach 3.5 percent by

December 2025. The report says this will

provide a welcome decline in funding costs

for the private sector: ‘access to credit has

started to loosen and should continue to

do so as the BoE becomes more dovish’.

Fiscal policy should be less restrictive

in 2025 than in 2024. Moreover, proinvestment

Government policies should

provide tailwinds to the construction

sector, including infrastructure, residential

and the NHS. The Chancellor of the

Exchequer re-affirmed the Government’s

commitment to boosting infrastructure

spending in her recent speech.

Nevertheless, while the domestic

environment should improve, upcoming

US tariff hikes will provide a challenging

external backdrop. The US is the first

market for UK goods exports, and Allianz

Trade expects increased US tariffs on

Corporate risk

in the UK will

remain elevated.

UK companies

have shown

resilience, but

tight financing

conditions and

weak demand

have put them

under pressure

over the past

two years.

sectors such as automotive, chemicals and

machinery and equipment.

The authors of the report write: ‘While

the Government’s pro-investment policies

will be supportive to UK growth overall,

the sharp planned rise in the National

Insurance contributions will limit the

growth benefits by weighing on labour

supply, labour demand, in-pocket pay

for employees, and profit margins for

employers.’

The UK economy remains particularly

vulnerable to fluctuations in foreign

exchange rates, with around 50 percent

of its import prices being influenced by

currency dynamics, notably higher than in

France and Germany. This high sensitivity

stands in stark contrast to the export

sector, where the benefits of a weaker

currency are limited due to a substantially

lower passthrough effect.

Corporate risk in the UK will remain

elevated. UK companies have shown

resilience, but tight financing conditions

and weak demand have put them under

pressure over the past two years: ‘We

expect business insolvencies to remain at

elevated levels in 2025 and 2026, though

easing from 2024’s peak,’ the report

concludes.


CICM ACCREDITATION NEWS

Crest fallen

CREST Nicholson, the Surrey-based

housebuilder, has alerted investors to

potential breaches of its banking covenants

due to a significant loss before tax of

almost £144m for the year ending October

31, 2024. CEO Martyn Clark said that the

breach would only occur in a ‘pretty severe

situation,’ highlighting the company's

ongoing dialogue with lenders and ‘the

considerable progress made in reviewing

the company’s strategy’. Fire safety costs

surged to almost £250m, contributing to

a six percent drop in revenues to just over

£618m.

Very cross

VERY Group, owned by The Barclay family,

has severed its long-standing relationship

with HSBC, appointing rivals NatWest

to manage its buy now, pay later (BNPL)

customer loan portfolio. The move was

said to be influenced by HSBC’s aggressive

stance against other Barclay family assets.

Very, which specialises in providing finance

options for purchases including clothes,

toys and household appliances, conducts

approximately 90 percent of its sales

through customer loans.

Quick switch

THE Current Account Switch Service

facilitated a total of 1.2 million switches

last year, with 309,290 occurring between

October and December 2024. During 11 years

of operation, the Service has successfully

redirected 160.5 million payments. A

year dominated by cost of living rises,

inflationary pressures and changing interest

rates saw a bustling switching ecosystem.

The figures mark a second consecutive year

of over a million switches, maintaining the

momentum of a record-breaking 2023.

Student prize

REBECCA Ross of Equans has received the

2025 Sheffield & District Branch Student

Prize. Congratulations Rebecca. Celebrate

your success.

Winning ways

CICM starts the New Year by

congratulating three companies on

achieving re-accreditation: the Peninsula

Group, the Royal Mail, and Travis Perkins.

These organisations demonstrate their

continuing commitment to instilling best

practices in credit management and debt

collections and find real value in striving

for and achieving the CICMQ award.

In December, Luke Sculthorp, CICM’s

Head of Strategic Relationships, presented

the CICMQ Award to Peninsula, which

provides employment law, human

resources and health and safety advice

and consultancy in the UK and Ireland.

Chris Hudson, UKI Payments, Teams

Development, and Service Delivery

Manager at Peninsula says it was a proud

moment, knowing it demonstrates their

commitment to continuous improvement

and best practices: “As a CICM member,

we continuously review our Credit

Control Policies and Procedures, apply

best practices across the department and

provide our teams with clear training and

development opportunities through the

CICM courses. Receiving re-accreditation

confirms to us that we remain aligned

with CICM’s high-quality training and

development standards.”

Peninsula has grown over the past

40 years from a company with just 12

employees in 1986 to a global enterprise.

Today, it supports over 44,000 SMEs in

the UK and Ireland alone and over 145,000

companies across three continents in total.

Its success stems from a focus on the needs

of small firms.

Having joined Peninsula two years ago

and led the UK team through

re-accreditation, Chris views CICMQ as

adding value to Peninsula’s business by

instilling customers with confidence in

the team’s approach to credit control. “It

signals to our customers that our credit

control practices meet our legislative

responsibilities and ensures a positive

client experience, which enhances the

business's reputation.”

Glenys Hayward, Head of the Royal

Mail's Finance Shared Services Centre,

agrees that the accreditation adds

credibility to her team's methods and

procedures in the eyes of both internal

and external stakeholders. “Receiving

external recognition is extremely valuable,”

says Glenys, “because it gives internal

stakeholders confidence in the services we

provide and our ability to influence change

across the organisation. For our customers,

those processes ensure that our customerto-cash

journey is a positive experience.”

Glenys has been with the Royal Mail

for over 14 years, starting as a Finance

Business Partner in the Group Centre

and progressing to Head of Group

Receivables before moving to her current

role four years ago. During that time, she

has witnessed significant changes within

the Royal Mail, from its privatisation

ten years ago to its transformation into a

global, modern, and digitally innovative

letter and parcel delivery service. Today,

combined revenues from the Royal Mail

and its international subsidiary, General

Logistics Systems (GLS), have reached £12.7

billion, an increase of £635 million from the

previous year.

CICMQ has helped the Finance Shared

Services team adapt and change over the

years. As Glenys explains: “For the team, our

relationship with the CICM community is

‘‘Receiving

external

recognition

is extremely

valuable, because

it gives internal

stakeholders

confidence in

the services we

provide and our

ability to influence

change across the

organisation.’’

significant in aiding the team's networking,

development, and learning. The CICMQ

award is a positive affirmation of our

processes, standards, controls, and the

development, and training the team

receives.” The Royal Mail will receive its

award in the first quarter of the year.


INSOLVENCY

FACE VALUE

The importance of valuations for Insolvency Practitioners.

BY ALEXANDRA DAVIES

AS Insolvency Practitioners, we

navigate intricate financial

landscapes to manage distressed

businesses and safeguard the

interests of creditors. In this

demanding role, precise valuations

are essential in shaping our

decision-making processes. There are three primary reasons

why valuations are crucial for Insolvency Practitioners: their

influence on strategy; their role in reducing legal risks; and

their importance in mitigating asset-related risks.

Valuations serve as vital tools that guide our strategic

approach when dealing with financially distressed

businesses. By thoroughly assessing a company's assets,

liabilities, and potential future cash flows, we gain critical

insights into the feasibility of restructuring plans, potential

sale opportunities, or liquidation proceedings.

For example, a detailed valuation might uncover that a

company’s assets are undervalued, presenting opportunities

for potential recovery. In such cases, we can develop strategies

to capitalise on these hidden values, such as negotiating debt

restructuring or identifying prospective buyers who may be

willing to offer a premium.

Conversely, if valuations indicate limited recovery

prospects, proactive steps can be taken—such as initiating

liquidation proceedings—to maximise creditor returns.

In such scenarios, precise valuations enable us to make

informed choices that align with our obligation to act in the

best interests of all stakeholders.

Legal challenges

When acting as an officeholder of an insolvent estate, we

are susceptible to potential legal challenges from creditors

who may question our decisions or allege misconduct.

Independent valuations conducted by qualified professionals

provide a strong safeguard against such claims, reducing the

risk of litigation and protecting our professional standing.

An independent valuation offers an objective assessment

of the company’s financial position and assets, ensuring

transparency and fairness. It substantiates that any decisions

made by officeholders are founded on verifiable evidence and

professional judgment, thereby minimising the likelihood of

legal disputes arising from perceived conflicts of interest.

Furthermore, an independent valuation demonstrates

adherence to due diligence and compliance with regulatory

requirements. This not only shields us from potential

litigation but also fosters trust among creditors, enhancing

our credibility as Insolvency Practitioners. Throughout our

work, we frequently encounter distressed businesses with

diverse asset types, each presenting its own set of risks.

Valuations act as a risk management tool, allowing us to

identify and effectively mitigate potential risks associated

with these assets.

For instance, when dealing with property assets, an accurate

valuation can highlight insurance risks. Similarly, when

managing plant and engineering assets, valuations help

assess maintenance risks and possible health and safety

concerns.

Valuations form the foundation of sound decision-making.

They not only help in formulating the most effective

strategies but also act as a safeguard against potential legal

disputes. Additionally, valuations enable us to identify and

manage risks tied to distressed assets, ultimately ensuring

the best possible outcome for creditors of an insolvent estate.

When selecting a valuer or chartered surveyor, an Insolvency

Practitioner must consider several key factors to ensure the

accuracy and reliability of the valuation or survey within the

insolvency process. These considerations include:

1. Professional Indemnity Insurance: It is crucial that the

valuer or chartered surveyor possesses sufficient professional

indemnity insurance. This coverage provides protection in

cases of errors, omissions, or negligence. The Insolvency

Practitioner should verify that the valuer's insurance

coverage is adequate to mitigate potential claims.

2. Industry Experience: The valuer’s expertise in the industry

relevant to the insolvency case is essential. Their familiarity

with industry trends, market dynamics, and regulatory

requirements ensures a more precise valuation or survey.

Before engagement, the valuer’s track record and experience

in similar cases should be assessed.

3. Engagement Considerations: Several factors should be

evaluated when engaging a valuer or chartered surveyor.

These include their proximity to the property or assets being

valued, as geographical location can impact site visits and

an understanding of local market conditions. Additionally,

the associated costs should be considered to ensure they are

reasonable and proportionate to the asset valuation.

Ultimately, an Insolvency Practitioner’s choice of

a valuer or chartered surveyor should prioritise

professional indemnity insurance, relevant

industry expertise, and practical engagement

considerations such as location, and overall

cost-effectiveness.

Author: Alexandra Davies is a senior

manager in the business recovery team

at accountancy firm, Menzies LLP.


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PAYMENT DATA

NEW BI-MONTHLY COLUMN

A PROBLEM

SHARED

Construction firms share their payment experiences.

BY PHILIP KING FCICM

TOP Service captures trading

experiences from its 3,000+

members in the construction

sector, making them available

across its membership base and

informing its online credit scoring

system.

The experiences shared are real time and based on

specific events happening right now. They can be

positive as well as negative to help members looking

to increase sales to targeted businesses. The system is

described aptly as ‘Insider Intelligence’.

I thought it might be interesting to look at the

experiences submitted in the final quarter (Q4) of

2024, and compare them with the same quarter in the

previous year to see what, if anything, has changed and

what it might tell us.

The 19,167 total experiences submitted in the quarter

were 2.9 percent higher than the previous year.

This demonstrates the continuing and increasing

willingness to share, and recognition that doing so

brings benefits

It may be obvious to many perhaps, but others might

see it as detrimental to share an adverse experience

while still chasing outstanding debt, or encourage

others to increase trade with a model client by sharing

a positive experience.

Predominant codes

The predominant SIC codes reported on in the quarter

of both 2023 and 2024 were development of building

projects, and construction of domestic and commercial

buildings. This is no great surprise since Top Service

and its members focus on the construction sector, and

there was no real difference year-on-year.

The majority of experiences shared came from Top

Service members who were builders’ merchants or

involved in the hire and sales of plant and machinery,

tools equipment, skips, or access equipment. These

are companies likely to have a much greater volume

of customers and smaller average debt values than the

providers of more specialised services, so it’s logical

that they will have more experiences to share.

From these sectors, the number of experiences shared

by builders’ merchants in Q4 2024 were 10 percent

higher, at 3,509, than in Q4 2023. This suggests that

customers and contractors are increasingly willing to

move from one builders’ merchant to another, whereas

they stick with one provider for the hire of equipment,

skips etc, and keep them sweet by paying better.

Avoiding the stop list

I know from my time in electrical wholesaling, albeit

many years ago, that loyalty was in short supply and

hire of equipment, for example, being more time

critical made reliability important. When a skip,

or scaffolding, is required at a particular time, a

contractor wouldn’t want to be on the stop list.

Some 70.1 percent of the experiences shared were

negative, compared with 71.0 percent in Q4 2023.

The percentage of positive experiences shared was

almost static but the increase of 333 in the number

is an encouraging trend. The majority of these stated

that the debt had been paid, as a result of escalated

collection activity.

Seeing one or more experiences stating that payment

has been made following escalated collection activity

is a strong indicator that, even if a supplier is currently

being paid on time, there’s a likelihood that problems

might lurk round the corner.

Overall, there were few significant year-on-year

changes, but the volume of experiences submitted

demonstrates the value that can be derived from being

willing to share information and from having access to

it. Knowing which organisations other businesses in

the sector are trading with, whether they’re being paid

on time, late, or not at all can be invaluable in making

good credit decisions. They can also be a crucial early

warning system for existing suppliers.

Philip King FCICM is a non-executive director at

Top Service Ltd.



CREDIT MANAGEMENT

PAYMENT CODE

FAIR PLAY

What hopes for the new Fair Payment Code?

BY SEAN FEAST FCICM

THE issue of late payment is not

easy to fix. Many have tried.

Small business organisations have

demanded. Specific groups have

been formed. Codes have been

launched. Reporting has been

mandated. And yet still the issue of

late payment is unresolved.

Undeterred, the office tasked with solving the

conundrum – the Office of the Small Business

Commissioner (OSBC) – is trying again with the launch

of the Fair Payment Code.

As reported in the February issue, the code has been

launched to encourage businesses across the UK to

pay promptly and introduces tiered award categories

(Bronze, Silver and Gold) to recognise best practice.

Businesses may now apply for the award tier which best

suits them, based on the category criteria: gold for those

firms paying at least 95 percent of all invoices within 30

days; silver for those paying at least 95 percent of all the

invoices within 60 days including at least 95 percent of

invoices to small businesses within 30 days; and bronze

for those paying at least 95 percent of all invoices within

60 days.

Principles driven

In addition, every business granted an award agrees to

abide by the code's principles of being clear, fair and

collaborative with their suppliers. The new code, we are

told, will be more aspirational than the Prompt Payment

Code which it replaces by supporting businesses which

wish to improve their payment practises. Each award is

for two years, and every business will need to reapply

for their award at the end of each two-year period.

There will also be a robust complaints system to

highlight to the OSBC those businesses not meeting the

requirements of the category of their award.

Few, if any, will argue that late payment is a problem.

Every month, various banks, financial services providers

or small business groups release data that tells us the

challenge is growing. But is the FPC the answer?

The Prompt Payment Code which preceded it was largely

invented and certainly administered by the Chartered

Institute of Credit Management in accordance with its

not-for-profit obligations to support the wider business

community. For a long time it worked, most notably

in its stated objective of creating debate which might

lead to cultural change. The number of signatories

steadily grew, and rules were changed which enabled

transgressors to be named and shamed.

Room for improvement

There were, however, gaps and room for improvement,

and a series of changes were made. The most recent

were detailed in a letter from the then Small Business

Minister Paul Scully four years ago. These improvements

included a test against mandatory payment reporting

and/or an annual compliance declaration, and new

powers to the SBC to investigate signatories on their

own determination, rather than waiting for a formal

complaint to be registered.

Unfortunately, some of these suggested changes were

never implemented, leaving the PPC to effectively

‘whither on the vine’. Interestingly, many of those

recommendations previously overlooked, are now back

in play.

Ditching the former code in its entirety, therefore, seems

an unfortunate decision. On the one hand, starting

afresh can be a good thing, but only if the previous

lessons learned aren’t to be discounted. In 14 years, the

PPC gained 5,000 signatories, and that momentum will

now most likely be lost.

Some of the challenges are practical. Small businesses

– which comprised almost three quarters of the

PPC signatories – will find it onerous to demonstrate

their compliance with the medal standards. References,

for example, are notoriously difficult to obtain;

there are good reasons why very few trade suppliers

bother with them today when they used to be the norm.

It may have been better from the off to launch this

as a ‘big business’ code (if nothing else to appeal to

the FSB’s ‘small business good; big business bad’

mentality).

Aspirational thinking

There are also challenges in the new code’s claim that

it will be ‘aspirational’. What CEO or business owner

will join if the highest standard they can attain is

bronze? The PPC, if you recall, worked with several

organisations on remedial plans – with some success –


CREDIT MANAGEMENT

but had the advantage of many decades of expertise to call upon.

So while the OSBC says it will support those who want to climb

higher on the medal table, do they really have the resources or the

skills to achieve it?.

Liz Barclay, the Small Business Commissioner, thinks it does: “We

currently have enough resources,” she says. “Awareness of the FPC

is building and of course, because it’s such a different code with

very different requirements it will take time for many businesses

to reach the required payment times and practices.

“At the moment, we’re working with would-be awardees to help

them understand those requirements. We have done a lot of

comms and engagement but there is still much to do, and we will

be keeping a close eye on resourcing in the Code team.”

Right and wrong

There is much that is right with the code and much that is wrong,

depending on whether your glass is half full or empty. Will the

list of signatories be publicly available to view on the website, as

was the case with the PPC? Will the validation and enforcement

checks they promise really be as robust as they say, and what does

robust even mean?

Liz says that a list of award winners will be announced and the

FPC will eventually have its own website. In terms of its policing,

she believes the FPC is much more robust than its predecessor:

“Firms can no longer simply decide to sign up to a code,” she

explains.

THE CATEGORY

CRITERIA: GOLD

FOR THOSE FIRMS

PAYING AT LEAST

95 PERCENT OF ALL

INVOICES WITHIN

30 DAYS.

“They have to prove they’re complying with and reaching the

standards of the code or they won’t be given an award. This means

many firms will have to work hard to improve their current

payment practices before they get onto the code. Each award,

Gold, Silver, or Bronze, is for two years only, and firms then

must reapply so we will be checking compliance every two years.”

(That sounds good; but it implies that PPC signatories were not

validated when they were, and in Scully’s recommendations there

would be annual checks, not biennial.)

Absent friends

The fact that Public Sector organisations are not included is a

problem. Is it not possible, for example, for those organisations

to sign up to the FPC as well as being subject to the Procurement

Act 2024? There is also a disconnect between the Procurement

Guidance 10/23 requiring 95 percent of all payments to be made

within 60 days and meeting an average days threshold of 55 days

for all invoices (45 days from October) which now appears to

make little sense.

The simple truth when it comes to payment best practice is that

those who are good, tend to be very good, and those who are bad,

won’t change. Many of the very best have long-ago concluded that

treating suppliers fairly makes them more resilient; some of the

worst have worked out that the system can be ‘gamed’, and an

outward appearance of fair play and responsible business is just

a façade. It will, perhaps, always be thus, but that’s not to say we

should ever stop trying.


INTERVIEW

THE BEAT

MASTER

Sean Feast FCICM speaks to Neil Jinks FCICM about credit

management and the importance of Fellowship, and whether

hopes of making it in a band might still be realised.

BY SEAN FEAST FCICM

NEIL Jinks FCICM, the

recently appointed Chair

of the Chartered Institute

of Credit Management’s

Executive Board, always

wanted to be a drummer

in a band, and for a time it

looked like his dreams could become reality: “I started

playing the pots and pans with wooden spoons as a

toddler,” he laughs, “and in the 1990s I played in some

great bands who had quite a following. We received

rave reviews.”

Sadly, initial promise did not lead to commercial

success and Neil was obliged to look elsewhere for a

career. The music industry’s loss, however, proved to

be the credit industry’s gain.

Born in Birmingham, Neil’s late father had been

a bass player in a band when he was younger in

the swinging sixties before becoming a roofer. His

mother, meanwhile, worked in retail for Boots the

Chemists and Neil could not have wished for better

parents.

Educated locally, he followed his father and elder

brother to Bartley Green School in Birmingham:

“I loved school and had a wonderful time,” he says,

“performing well academically, being a prefect, and in

a band. I also got to run my first businesses - the tuck

shop and school magazine – as part of our business

studies course. I have felt very entrepreneurial from

an exceedingly early age.”

Careers advice

Careers advice, perhaps unusually for a school in

the 1980s, was well focused and organised: “As I was

recognised as a creative writer with a business head,

it was felt that a career in the legal profession or

banking industry would be good for me,” he explains.

“I did my work experience in what was then

Midland Bank on the same high street where my

mother worked. Bear in mind, this was a time before

computers were in regular use, so it was a very paperdriven

environment, where I helped at the counter

to process cash and cheques being paid into the bank

and the reconciliation and processing that occurred

at the end of each day.”

Although he quite enjoyed the interaction with the

bank’s customers at the counter, he found the work

rather boring: “It put me off a career in banking and

I decided to continue my studies at either college or

university.”

For a time, Neil toyed with the idea of either being

a police officer or a firefighter but as he was not the

most athletic child, by his own admission, he decided

not to pursue either role. As much as he enjoyed

retail, his love of creative writing suggested he was

destined to be an author or journalist but as these felt

over ambitious, he settled on forgoing further studies

to seek an office-based job or profession.

“I have always felt like I missed out on further

education to an extent and slightly regretted the

missed opportunity. I always wondered what life at

university might have been like for me, where and

what I would have studied for example.”

His first employer did provide Neil with a chance to

further his education by studying to become a legal

executive: “I found studying the law itself rather dull

but would come to life and be very animated when we

covered legal practice as I could relate this to my day

job and share my knowledge and experience with my

lecturer and fellow students.

“At one stage, I studied at Solihull College alongside

a wonderful colleague, Pam, who has gone on from

being a paralegal and trainee legal executive to become

a solicitor and in-house counsel for a multinational

plc and its group of companies.”


CREDIT MANAGEMENT

“I STARTED PLAYING

THE POTS AND PANS

WITH WOODEN SPOONS

AS A TODDLER.”



INTERVIEW

Office junior

Through the good auspices of Neil’s Business and

Information Studies’ teacher at school, Neil’s

first job was with a local firm of solicitors called

Cartwright & Lewis as an office junior: “I was

incredibly nervous on the day of the interview and

was met by the HR Manager and Office Manager

who seemed to just talk at me rather than ask me

questions. The time was spent with them telling me

all about the firm and how wonderful it was there.

I was not asked many questions and did not have

many to ask myself as they had answered most of

them for me already.

“I left thinking that I could not imagine that they

would offer me the job based on my performance

but by the time I got home, I had a telephone

message from the office. I called the HR Manager

back and she was delighted to inform me that my

application had been successful, and she wanted to

know when I could start.”

At the age of 16, therefore, Neil was in full

employment earning the princely sum of £40 per

week and felt like a millionaire: “It turned out my

success was based on my very neat handwriting, the

fact that I had stated my hobby was photography,

which, was slightly stretching the truth, and the

fact that I had a smile on my face throughout the

interview.”

In a short space of time, he progressed to become a

legal assistant to the senior partner, Alan Griesbach,

who specialised in debt litigation and was also

a District Judge. He could not have wished for a

better grounding to his legal career: “In effect I fell

into my career in the law, and I have never looked

back,” he says. “One thing has led to another, from

office junior to becoming a director of a global legal

business.

“A few years ago, I invited His Majesty’s Association

of District Judges to provide a guest speaker for the

Civil Court Users’ Association (CCUA) Annual

Conference and it was a nice surprise when I

received an email back from a District Judge who

was one of the senior partners in that first business.”

Professional experience

In a long and distinguished career, Neil has

worked for several leading legal businesses over

the years including Lee Crowder, Cobbetts,

Shakespeare Martineau and DWF. As a debt

litigation specialist and an expert in judgment

enforcement, he has been invited to work in the

High Court Enforcement sector several times:

“I have really enjoyed being involved behind the

scenes supporting clients,” he adds. John Marston

OBE was his ‘go to’ sheriff’s officer from day one of

his career and he was therefore delighted one day

to be invited to join Marston Group, where he says

he had a wonderful time. He also enjoyed working

for Court Enforcement Services and continues to

have a great rapport with people who have been

associated with both businesses: “It is nice to have

been invited back to work with several businesses

and key players over the years. It has made me feel

that my contribution has been of value.”

Most recently, Neil was invited to join

Controlaccount, a leading debt recovery and

outsourcing solutions agency, as its Brand

Ambassador: “I am a new public face and voice

for Controlaccount and the other brands within

Broadriver Group,” he explains, “representing the

company at industry events.

“BUT HEY, AT

LEAST I’M STILL

OUT ON TOUR

ALTHOUGH I’M

NOT EXPECTED TO

THROW TV’S OUT

OF THE WINDOW.’’

“As an influencer, I help to build and maintain

relationships with fellow professionals and share

the company vision to bring our messages to a wider

audience. I provide thought leadership, sharing

industry news and trends to help the business and

our clients anticipate and adapt to change. I love

the fact that it is an employee-owned business,

so we are all very much invested in its continued

success.”

Neil says he is loving the transition from working

for so many years in legal businesses to being

involved in the front-end in a debt recovery

agency: “It feels so refreshing as you can be more

commercial, adaptable and agile. Given the issues

being faced with significant delays in the court

process, I think it is in the interests of all concerned

to promote early-stage resolution and to keep costs

to a minimum but we still very much have litigation,

enforcement and insolvency in our toolkit.

Industry associations

In addition to the day job and his role as Chair of

the CICM Executive Board, he is Vice Chair of the

CCUA and Chair of its Events Committee. The

CCUA campaigns for an improved court service


CREDIT MANAGEMENT

help them to elevate their status by endorsing

their career achievements based on our working

relationships. I would encourage all members

to review CICM’s professional standards and

career levels to ensure you have the right level

of membership as it can be great for your CV

and open up more opportunities for you in the

future.”

A fresh start

So what advice would Neil give to a young person

starting out today? “I am sure a degree is important

in some cases if you want to be a doctor or a lawyer

although it has been very pleasing to see CICM

leading the way in embracing and appreciating the

importance of apprenticeships.

Neil and his husband Lance.

and better access to justice for creditors. He is also

the Immediate Past President and an Executive

Member of the Institute of Revenues, Rating and

Valuation (IRRV) West Midlands Association.

His relationship with the CICM goes back more

than 30 years: “I have been associated with CICM

throughout my career and particularly the West

Midlands Branch. Over the years, my support

has grown from being a member and sponsor of

the branch committee to becoming a regional

representative and Advisory Council member. A

few years ago, I was elected to CICM’s Executive

Board, and I was delighted to be elected Chair of

CICM last year.

“I have always been proud to be a vocational member

of CICM and could not have been prouder to have

been made a Fellow of CICM, which, I think was

well over 10 years ago now. I am proud to have been

able to show that I meet the criteria for fellowship

and have made a significant contribution to our

credit community.”

Neil is convinced that being a Fellow of the CICM

has helped progress his career: “As someone who

suffered from imposter syndrome as a youngster, I

would never have thought that I could have ever

achieved this level of status in my career,” he says.

“One of my former colleagues, the late Arthur

Hastilow, was a Fellow of CICM and back then

I thought I would have to perform a miracle to

achieve such an accolade.

“I have been surprised in recent years to see how

many of my senior professional connections

working in credit are not Fellows of CICM. I have

been really pleased to highlight this to them and

“In some careers, such as the credit profession,

I believe professional qualifications are more

important than a degree. I would advise young

people entering the profession to ensure they

maintain their qualifications, professional

memberships, ongoing training and CPD as it will

be those qualified and up to date individuals that

will stand out to recruiters and potential employers

reviewing perspective candidates.

“The best advice I can give anyone,” he continues,

“is to always bring your true, authentic self to work,

always be professional and respectful but stand up

for yourself and your beliefs. There is no one more

‘you’ than you, and people do business with people

they like and trust. Be mindful, aware and do not

let any limiting beliefs hold you back. Anything is

possible but you must put the effort and the work

in to make it happen.”

Away from work, Neil says he is focused on family

and self-development: “I could not be prouder of

my husband, Lance, who is a student paramedic

and already on operational duty saving lives,” he

continues. “I am also very proud of my son, who

we adopted when he was a toddler, and is now a

teenager! I find married life and being a parent very

rewarding.”

And has he given up all hopes of late fame and

fortune on the road? “In an ideal world I would

be the drummer in a great band, managing the

careers of highly successful musicians or their tours

or promoting the world’s greatest rock festival,” he

laughs.

“But hey, at least I’m still out on tour although I’m

not expected to throw TV’s out of the window or

ride motorcycles up and down the hallway any

more like my hero, the late, great, John Bonham.

Did I tell you I used to act for his best mate?”


COUNTRY FOCUS

on Ethiopia

The Empire

strikes back?

Ethiopia: A hidden gem of history, culture, and influence.

ETHIOPIA is not a country

on the top of many lists, be

that for industry, tourism or

modernity. However, as we will

see, it should be given more

prominence for it is a country

that is more interesting than

many credit.

Consider coffee and our daily shots of caffeine. Ancient

history suggests that an Ethiopian goat herder, Kaldi,

first discovered coffee in 850. Similarly, Ethiopians

believe that the Ark of the Covenant – containing the

slabs of stone upon which the Ten Commandments

were inscribed – resides in a church in Axum.

Beyond that Ethiopia has never have been colonised

by Europeans and uses its own calendar and 12-hour

clock that tracks time from dawn to dusk. It’s also

central to Rastafarianism whose adherents considered

Emperor Haile Selassie as the Second Coming of Jesus

and thus God incarnate in human form.

Established history

Ethiopia is probably one of the oldest parts of the

world as far as mankind is concerned given that traces

of hominids from four million years ago, along with

anatomically modern humans 200,000 years old,

have been discovered. Winding the clock forward to

between the 1st century and 960, there existed the

Kingdom of Aksum that took in much of the region.

Christianity came to the kingdom in 350 and in 1270

the Ethiopian Empire was established – an empire

that lasted until 1974.

The Ethiopians defeated invading Italian forces in

1896 but in 1935, Mussolini’s military deposed Emperor

Haile Selassie until they were driven out in 1941. The

emperor was reinstated but overthrown in 1974,

but not before annexing Eritrea in 1962. Marxism,

dictatorship, famine, followed in the intervening

years. In 1991 the Ethiopian People's Revolutionary

Democratic Front mounted a coup and subsequently

made good progress on the economy. More recently,

in 1993, Eritrea became independent, but a border

war ran from 1999 to 2000. In 2020 tension arose in

the Tigray region with Eritrean forces supporting the

Ethiopian government there.

Geographic location

Located in the Horn of Africa, landlocked Ethiopia

sits to the south of Eritrea and the Red Sea, west of

Somalia and Djibouti, north of Kenya and east of

Sudan and South Sudan.

With a landmass of 1.10m km2, it’s ranked 26th by size

in the world and sits between Bolivia (1.09m km2) and

Colombia (1.13m km2). The UK in comparison is in

78th position with an area of 272,741 km2.

Climatically, the World Bank Climate Change

Knowledge Portal (WBCCKP) says that Ethiopia

has a diverse climate and landscape, ranging from

equatorial rainforest with high rainfall and humidity

in the south and southwest, to the Afro-Alpine on the

summits of the Simien and Bale Mountains, to desertlike

conditions in the north-east, east and south-east

lowlands.


CREDIT MANAGEMENT

Overall, though, Ethiopia is considered largely

arid. However, its land can be zoned into three -

the alpine vegetated cool zone where temperatures

range from near freezing to 16°C; the temperate

Woina Dega where much of the country’s

population is concentrated that sees temperatures

range between 16°C and 30°C; and the hot Qola

which encompasses both tropical and arid regions

and has temperatures between 27°C and 50°C.

Demographic challenges

The population of Ethiopia is the second largest in

Africa and numbered 107.3m in 2023 according to

official estimates or 128.6m if we consider the UN’s

World Population Prospects (July 2024).

And it’s interesting to see how the population has

grown in recent decades. In 1950 it stood at 18.4m,

but rose to 35.4m in 1980, and 82.9m in 2010.

Growth is thought to be in the region of 2.6 percent

giving an estimated population size of 139.6m by

2030 and 190.8m by 2050 according to the WBCCKP.

The CIA World Factbook states that Ethiopia is

very diverse with numerous ethnic groups and

languages.

In particular, of the ethnic groups, Oromo makes

up 35.8 percent of the population, Amhara 24.1

percent, Somali 7.2 percent, Tigray 5.7 percent,

Sidama 4.1 percent, Guragie 2.6 percent, Welaita 2.3

percent, Afar 2.2 percent, Silte 1.3 percent, Kefficho

1.2 percent, and other 13.5 percent.

And in terms of the languages there are over 80

spoken of which Oromo is an official regional

working language which is used by 33.8 percent of

the population, Amharic is another official national

language and is spoken by 29.3 percent, Somali is an

yet official regional working language - spoken by

6.2 percent, as is Tigrigna which is spoken by 5.9

percent, then there’s Sidamo on 4 percent, Wolaytta

2.2 percent, Gurage 2 percent, Afar is another

official regional working language with 1.7 percent,

Hadiyya 1.7 percent, Gamo 1.5 percent, Gedeo 1.3

percent, Opuuo 1.2 percent, Kafa 1.1 percent, other

8.1 percent, with 12 percent speaking English... at

home. (2007 data).

THE CAPITAL

ADDIS ABABA IS

THE LARGEST

WITH 3.35M

INHABITANTS

WITH JIJIGA

NEXT WITH 1.16M.

THERE ARE JUST 19

TOWNS AND CITIES.

Ethiopia is mostly rural. Data from the Central

Statistics Agency (Ethiopia) in a document,

Population Projection of Ethiopia from all Regions

at Wereda Level for 2014-2017, based on 2016 census

data, suggests that there are just 71 towns and cities.

The capital Addis Ababa is the largest with 3.35m

inhabitants with Jijiga next with 1.16m. There are

just 19 towns and cities with between 100,000 and

341,000 residents, and there are a further 50 with

more than 39,000 residents. The numbers may be

considered inaccurate since they refer to the cities

themselves and do not include the metropolitan

areas.

Growing economy

When looking at the size of the Ethiopian economy

it’s plain to see that for decades it was flatlining.

Using World Bank data, GDP stood at $1.61bn in

1960, was $3.05bn in 1970 and $12.48bn in 1990

and peaked at $13.8bn in 1991. It then slumped

to $7.85bn in 2002 but in 2005 began what can

only be described as an exponential climb to

$55.61bn in 2014 and $163.7bn in 2023.

As for the population pyramid, albeit from 2022,

it’s striking in that it’s almost a triangle with a very

wide base with almost perfect 45-degree angle sides

that terminate with a point at age 92.

In more detail, Statista, citing the World Bank,

notes that in 2022 those aged 0-14 years made up

39.71 percent of the population, those aged 15-64

years 57.17 percent, while those aged 65 or older

were just 3.12 percent of the population.



COUNTRY FOCUS

largest livestock population globally. It helps, says

the commission, that some 74.3m hectares of land

are suitable for agriculture. Consequently, Ethiopia

produces crops such as cereals, pulses, oilseeds, a wide

range of fruits and vegetables, coffee, tobacco, sugar

cane, tea, spices, and cotton.

There are cold chain facilities at three Ethiopian

airports – Bole, Hawassa, and Bahir Dar that allow agroprocessing.

The UN Development Programme (UNDP)

wrote in a 2023 document that the country is also noted

for high-quality flowers as it has an abundance of water

for irrigation. Horticulture exports were worth $568m

in 2023 through 130 active flower growing farms.

Mining

The Extractive Industries Transparency Initiative,

using data from 2019, says that ‘Ethiopia is a significant

producer of gold and limestone, and also produces

smaller quantities of tantalum, salt and pumice. The

latest EITI reporting shows that the mining sector

accounted for one percent of total exports and 14

percent of total employment in 2019.’ However,

Ethiopia has been suspended from the organisation for

missing a reporting deadline.

As a June 2024 blog on the LSE’s website commented,

‘Ethiopia, Africa’s second-most populous country, has

experienced twenty years of high economic growth

and great success in poverty reduction. This growth has

been fuelled by substantial public investment in critical

infrastructure and social development programmes.’

Unemployment is low and has averaged 2.93 percent

since 1991. However, inflation is a problem and over the

last 10 years has never gone below 5.5 percent (October

2016), peaking like many economies post-COVID over

2022-2023. But unlike elsewhere, the peak rose to 37.7

percent in May 2022. It has come down but stubbornly

sits around 17 percent.

Other World Bank indicators are worth noting too. In

2022 only 55 percent had access to electricity, 7 percent

were “using safely managed sanitation services”,

19 percent had internet access, and foreign direct

investment was just 2 percent of GDP.

Industry sectors

Agriculture

According to USAID, agriculture is a critical part of the

Ethiopian economy and contributes some 40 percent

of GDP, 80 percent of exports, and an estimated 75

percent of the country's workforce. The Ethiopia

Investment Commission states that the country is the

third largest producer of wheat in Africa, fifth largest

producer of tropical fruits in Africa and has the sixth

More recently, BNE Intellinews wrote, in July 2024,

Ethiopia has an astonishing array of natural resources

including gold, platinum, iron, nickel, chromite and

base metals; fertiliser raw minerals; gemstones, energy

minerals such as lithium, graphite and tantalum, oil

shale and coal; cement raw minerals; glass raw minerals

along with marble, granite, limestone, sandstone,

diatomite, bentonite, soda ash, salt, graphite and

sulphur. The site said that ‘the industry has amazing

potential, but political instability has been the main

hurdle to its development.’ Ethiopia wants its mining

sector to contribute 10 percent of GDP by 2025 –

laudable but unlikely.

The Ethiopia Investment Commission reckons that

mining will grow by 33 percent annually and hopes

to substitute more than USD eight billion each year

to import coal, iron, fertiliser, marble and granite,

chlor-alkali products, ceramics and petroleum with

domestically sourced materials.

Tourism

With a myriad of natural, cultural, and historical

sites – UNESCO adding 11 Ethiopian sites to its

World Heritage List with an additional seven on the

tentative list – it’s no surprise that Ethiopia’s tourism

sector is growing. In fact, a May 2024 World Bank

blog commented on Ethiopia seeing a near doubling

of tourist arrivals from 438,000 in 2010 to 936,000 in

2017 – a function of better air travel connectivity and

better marketing. As a result, it led to an increase in

foreign exchange earnings which reached a high of

nearly $3.6bn in 2018... In 2019, an estimated 1.9m jobs

were in the tourism sector which generated more than

6 percent of GDP.


CREDIT MANAGEMENT

x Addis Ababa, Ethiopia’s sprawling capital in the highlands

bordering the Great Rift Valley, is the country’s commercial

and cultural hub. Its National Museum exhibits Ethiopian art,

traditional crafts and prehistoric fossils, including replicas of

the famous early hominid, "Lucy." The burial place of the 20thcentury

emperor Haile Selassie, copper-domed Holy Trinity

Cathedral, is a neo-baroque architectural landmark.

Foreign firms have been leaving industrial parks,

mainly due to conflict and suspension from the US’s

Africa Growth and Opportunity Act which gave duty

free access to the US; many firms are operating at

close to 30 percent capacity. And it doesn’t help that

Ethiopian manufacturing is dominated by small firms

not looking to grow.

COVID dented this sector and it’s taking time to

recover with mostly resolved conflict in the Tigray

region. But that is dissipating and as the Ethiopia

Investment Commission points out, the country

has the largest mountains in Africa, the Danakil

Depression (the third-lowest place in the world), Erta

Ale (a live volcano), the Ethiopian Rift Valley (part

of East African Rift Valley) and is the source of the

Blue Nile.

Manufacturing

Pre-1957 manufacturing was very much cottagebased

– clothes, ceramics and leather goods for

example. The 1960s and 70s saw the sector grow until

nationalisations in 1975 which in turn led to an exodus

of foreigners which, combined with conflict and

labour issues, damaged the sector. Despite a plan to

reinvigorate manufacturing, the UNDP wrote that

the sector has ‘faced several recent challenges, partly

linked to the trifecta of macroeconomic pressures,

security challenges, and exogenous shocks.’ It notes

that manufacturing as a percent of GDP declined from

5.9 percent in 2019 to 4.4 percent in 2022. Close to 450

firms (out of nearly 5000) have ceased production in

the last year partly because of conflict.

‘ETHIOPIA HAS BEEN

ONE OF THE TOP

CEMENT PRODUCERS

IN SUB-SAHARAN

AFRICA IN THE LAST

TWO DECADES.’

But as to what Ethiopia does make, New businessethiopia.

com cites textiles – clothing, home textiles, and

industrial fabrics as well as leather goods – primarily

because labour is cheap. The UNDP says that the core

monthly wage is between $26 and $45 for skilled labour

and that exports to the European Union and the US

have steadily grown from $5m in 2007 to more than

$220m in 2020. And with so much livestock ‘about

eight million cattle hides, 12m sheep skins, and eight

million goat skins are used annually.’

There is also cement production. As the UNDP notes,

‘Ethiopia has been one of the top cement producers

in sub-Saharan Africa in the last two decades, and

its local industry has been growing rapidly, with

double digit annual growth and close to 17m tons in

capacity.’ This is a consequence of public investment

in infrastructure. There are 13 companies operating 23

plants.

There is also some pharmaceutical activity with several

local companies producing generic drugs for both

domestic and international markets. UNDP reckons

that there are 20 pharmaceutical and medical supplies

manufacturing industries in the country. The local

market has been growing at more than 15 percent per

year and there are projections that the industry may

double in size to reach $1bn within the next decade.

Summary

Ethiopia is surprising. With such a large population, a

greater than ample sufficiency in minerals and allied

deposits, an inexpensive labour force and decent

rainfall, Ethiopia should be a prime target for any

exporter.

There are challenges – the road system is less than

ideal, and the population is not urbanised and few

have access to proper electricity supplies and the

internet. However, that’s not to discount the country

– first mover status should surely be the incentive to

look at the country.

Author: Adam Bernstein is a freelance finance writer

for Credit Magazine magazine.


DEBT

COLLECTIONS

UNPLUGGED

Tackling the UK’s utility debt crisis with empathy, efficiency and AI.

BY HANS ZACHAR

UTILITY debt has become one

of the biggest financial burdens

on the UK market as consumers

have struggled to navigate a

cost-of-living crisis in recent

years triggered by high inflation,

rising interest rates, and shock

energy price increases.

The increase in natural gas prices began in 2022,

primarily driven by post-pandemic economic recovery

and geopolitical tensions, particularly the Russia-

Ukraine conflict. The impact on the UK energy market

was significant, with the war quadrupling energy costs

per household.

Data from Citizens Advice showed that during the

first four months of 2023, the number of people seeking

support with energy bills increased by 112 percent

compared to the same period in 2020, with customer

debt and arrears in energy rising to roughly £3.7 billion

by Q2 2024, according to Ofgem data.

Fortunately, inflation has cooled, energy prices have

come down and are stabilising, which has eased the costof-living

burden on consumers. Recent interest rate cuts

from the Bank of England have also helped people make

do and they are now generally able to navigate the new

normal of budget constraints to pay their bills.

However, the major issue facing the industry is what to

do about the historical debt, particularly when dealing

with vulnerable populations like the elderly and lowincome

households, who were hardest hit by the costof-living

crisis.

Challenging environment

As those working in the sector will attest, utilities are

nothing like credit cards, where consumers cannot keep

spending if they have reached their limit. With energy,

consumers typically continue to have access to the

service despite any outstanding debt.

While consumers generally find themselves in a position

to afford energy now, they are not clearing historical

debt fast enough, and there are risks that energy prices

could increase again over the short term. As such, utility

providers need to build up a war chest of financial

reserves to survive the next potential energy crisis. In

addition, utility companies have to meet certain capital

adequacy requirements.

While utility debt forgiveness in the UK is possible

through Government schemes and Debt Relief Orders

(DROs) should consumers meet certain criteria,

widespread debt forgiveness is untenable for energy

providers. Moreover, under Ofgem rules, energy

suppliers must work with customers to agree on a

payment plan.

Empathetic collections

As many of those in the industry have found, the key

to improving collections in the UK’s highly regulated

market is embracing a targeted approach that collapses

debt in the most empathetic and cost-effective ways,

without falling foul of stringent consumer protection

legislation.

In fact, UK regulators recently released a joint letter

promising ‘robust action’ against companies across

various industries, including the energy sector, that

put the mental health of consumers at risk by using

threatening tones and inundating already-vulnerable

borrowers with letters, calls and emails, about their

debts. Utility providers risk fines if regulators receive

too many complaints, which necessitates a considered

approach to debt collection that prioritises due care

and empathy for a consumer’s financial circumstances.

A softer approach requires utilities to use the right

marketing channels, wording, and level of empathy

when contacting customers. UK consumers generally

pay when nudged to do so with an appropriately worded

letter or digital engagement that prompts a call into the

contact centre.


CREDIT MANAGEMENT

AN AI-ENABLED

BOT THAT

WORKS IN THE

BACKGROUND

TO FEED AGENTS

WITH PROMPTS

AND INSIGHTS

IN REAL-TIME

DELIVERS BETTER

OUTCOMES.

However, due to the sensitive nature of these

engagements, utilities must embrace a high-touch,

human-led approach, which requires investing to

adequately staff a contact centre with trained and

empathetic agents, or partnering with an outsourced

services provider. Utilities must consider ways to

contain costs without negatively impacting their ability

to efficiently recover outstanding debt.

AI-driven future

Technology plays a pivotal role in containing costs

and supports high-quality interactions by empowering

agents with the information and insights they need to

engage with care and compassion.

The technology solution needs to make agents as

efficient as possible, feeding them with relevant insights

and data at every step in the customer journey. In this

regard, advanced technologies like artificial intelligence

(AI) predominantly play an agent-assist role rather than

a frontline engagement function.

In the UK, performance metrics focus on outcomesbased

results like first call resolution (FCR) rates rather

than efficiency measures like average handling time

(AHT). In this scenario, an AI-enabled bot that works

in the background to feed agents with prompts and

insights in real-time delivers better outcomes by preempting

needs and making the conversations easier and

more snappy than an automated chatbot.

When fed with relevant and real-time information,

agents are better equipped to assist customers with their

queries and can leverage contacts related to outages or

fault reporting to address billing issues.

The ideal outcome is facilitating a payment plan that

keeps customers happy as they pay down their debt while

also meeting all regulatory compliance requirements.

Author: Hans Zachar is Group Chief Information Officer

at Nutun.


*

International Trade

Monthly round-up of the latest stories

in global trade by Andrea Kirkby.

UK EXPORTERS £27BN

HIT FROM BREXIT

ACCORDING to The Times, UK exporters

have suffered a £27bn drop in goods sales

to the EU post Brexit, with, it says, smaller

firms being hurt the most by new trade

barriers.

The publication cites data from the Centre

for Economic Performance, based at the

London School of Economics, which noted

that Brexit had led to a 6.4 percent drop in

the UK’s global exports and a 3.1 percent

decline in imports into the UK from the

rest of the world. It said that the decline in

exports was concentrated among smaller

firms, but insignificant for the largest firms.

The research found that EU goods

exports dropped by 30 percent for the

smallest of firms and 15 percent for

medium-sized companies. Worryingly, some

16,400 companies halted all exports to the

EU after Brexit. The largest companies, in

comparison, were able to prepare for the

change in trade relations and protect in

fixed costs.

Trade in services has been more resilient

than most economists had expected

after Brexit. The value of the UK’s services

exports to the EU has continued to grow

since 2021, with a trade surplus reaching

£40bn in 2024.

The Welsh economy is set to grow

THE Wales Office has heralded the

accession of the UK to the Comprehensive

and Progressive Agreement for Trans-

Pacific Partnership (CPTPP) noting that

Wales exported £1.2bn worth of goods to

CPTPP countries in 2023, with membership

expected to bring a £110m increase to the

Welsh economy in the long run.

The CPTPP is a trade bloc whose

members – Australia, Brunei, Canada, Chile,

Japan, Malaysia, Mexico, New Zealand,

Peru, Singapore, Vietnam, and now the UK

– have a combined GDP of £12tn.

The Government reckons that

‘machinery, medicines and pharmaceutical

sectors are set to benefit’ and cited the

example of Pontyclun-based Concrete

Canvas. This firm produced a flexible,

concrete fabric that hardens on hydration

to form a thin, durable, waterproof and

lower carbon concrete layer or ‘concrete

on a roll.’ Its materials are exported to all

CPTPP markets which accounts for more

than 40 percent of its annual turnover. The

company expects to make savings of 20

percent on exports to Malaysia because of

the UK’s new membership of CPTPP.

FINED FOR BREACHES OF

UK EXPORT CONTROLS

EDM Limited was sentenced – in

November 2024 – for breaches relating

to the UK’s export controls.

The company was found guilty on

three counts of exporting military

goods without the necessary licence

and fined £89,359.80 (including costs).

The value of the goods concerned was

£38,967.68. The maximum penalty

available to the court in this case was

approximately £116,000.00 (three

times the value of the goods).

As the case set out, the case related

to the evasion of UK export licencing

controls on three exports of goods

related to a military flight simulator;

they required an export licence under

the Export Control Order 2008.

EDM Limited had been offered a

compound (out of court) settlement by

HMRC, but it was not accepted within

the time allowed.

GLOBAL RISK MAP

TRADE credit insurer Atradius has

revamped its global risk map to

become a more engaging threedimension

interactive map. Whereas

before it was a flat-Earth depiction of

markets around the globe, now it is

a Google Earth-like representation of

nations that on highlighting, detail a

STAR risk rating.

The STAR rating runs on a scale from

one to 10 (highest risk), with additional

rating modifiers positive (+) or negative

(-) to further distinguish country risk

levels. Starting from the most benign

part of the quality spectrum, these

categories range from ‘Low Risk’ to

‘Very High Risk’.

Not surprisingly, the UK is low risk,

as is France, and the Czech Republic.

Those sitting at ‘one’ include Canada,

Greenland, Sweden, Germany – and

Antarctica. At the other end of the

spectrum – with a rating of 10 –

are Russia, Belarus, Libya, Congo,

Zimbabwe and others.


CREDIT MANAGEMENT

Into tourism? Go

to Japan. Or don’t

TOURISM – a curse or a blessing? Well,

according to Nikkei Asia it looks like it’s

a problem of Japan’s own making as it’s

now having to deal with ‘overtourism’

swamping a number of the country’s iconic

sites.

Apparently 2024 saw Japan host a

around 36.8m tourists – a record – which

was up 47 percent on 2023. However,

the Government has an official target of

60m travellers by 2030. This means that

it needs to develop a plan to cope with

millions of visitors including improvements

to infrastructure and diverting tourists to

lesser-known places through well placed

advertising messages.

While there’s clearly a balance to

be struck between economic benefits

of tourism and the needs of local

communities is key, the publication thinks

that dynamic pricing, already used air

travel and hotels, could help manage

UK SPORTS EXPORTERS

SEE DEMAND IN THE GULF

ACCORDING to the Department for

Business and Trade, UK sports industry

exporters are seeing a boom in demand

from the Gulf as the UK progresses its

trade deal negotiations with the Gulf

Cooperation Council.

It appears that British companies are

selling everything from specialist gym

equipment to fencing for horseracing

tracks and are on a winning streak of

export successes in the Gulf as countries in

the region push to get as many people as

possible taking part in physical activity.

The trend comes as the UK tries to make

progress on striking a trade deal with the

Gulf Cooperation Council (GCC). If agreed,

the Government hopes that a trade deal

could increase trade between the UK and

GCC countries by 16 percent, potentially

adding an extra £8.6bn a year to bilateral

trade in the long run.

By way of example, the UK Government

HIGH LOW TREND

GBP/EUR 1.2057 1.18166 Up

GBP/USD 1.26268 1.2168 Up

GBP/CHF 1.14008 1.1123 Up

GBP/AUD 2.01193 1.96039 Up

GBP/CAD 1.81428 1.75902 Up

GBP/JPY 194.707 187.218 Flat

demand for popular attractions and

transport.

But regardless of whatever is

implemented to help it cope with tourists

that Japan seeks, if you’re an exporter

involved in anything to do with the tourism

sector, you know where to go for more

business.

notes that Saudi Arabia wants to increase

the proportion of its population exercising

every week from 13 to 40 percent by the

end of the decade. Research published

by Ernst and Young in 2021, suggested

then that the revenue of Saudi Arabia’s

sports event industry was forecast to

grow by eight percent a year, rising from

£1.6bn in 2018 to an estimated £2.6bn

in 2025.

One company seemingly doing well

in the region is Cheshire-based Pulse

Fitness. The company exports all over the

world, specialising in making gyms more

accessible through adaptations including

wheelchair access to equipment and raised

tactile icons helping users with impaired

vision. Since 2019, sales across the

region have grown - in Qatar sales tripled,

jumping from $100,000 to $300,000, and

in Saudi Arabia they increased eightfold,

from $50,000 to $450,000.

For the latest

exchange rates visit

www.currenciesdirect.com

or call 020 7874 9400

Currency Exchange Rates

TThis data was taken on 17th

February and refers to the

month previous to/leading up

to 16th February 2025.

INDONESIA EMERGES

AS STRONG TRADE

PROSPECT

IN the same neck of the woods as the

Philippines is Indonesia which, says

MoneyWeek, has formally joined the

BRICS group of emerging economies.

The group, viewed as a

counterbalance to the west was

established in 2009 by Brazil, Russia,

India and China. It soon grew to include

South Africa, Egypt, Ethiopia, Iran,

the United Arab Emirates and Saudi

Arabia and nearly half of the world’s

population and 41 percent of the

global economy.

Indonesia’s newish president,

Prabowo Subianto, is distinct from

predecessor Joko Widodo who wanted

to maintain Indonesia’s non-alignment

on foreign policy and favoured

membership of the Organisation

for Economic Cooperation and

Development (OECD) which includes

Japan and the US.

The problem is that if Donald Trump

sees Indonesia’s membership of

BRICS as being anti-US, then higher

tariffs may result. That means those

exporting to Indonesia ought to

be cautious of being caught in the

crossfire.

IRAQ AND UK

TRADE PACKAGE

THE Government has announced that

Iraq and the UK have agreed on a trade

package worth up to £12.3bn and a

bilateral defence deal.

The deal includes a £1.2bn project

for British-made power transmission

systems that will be used for a grid

interconnection project between Iraq

and Saudi Arabia, as well as a £500m

upgrade the Al-Qayyarah air base in

northern Iraq.

There’s also a water infrastructure

project by a UK-led consortium to

provide clean water in arid southern

and western Iraq worth up to £5.3bn.

The defence deal is all the more

important since the US-led coalition

set up to fight Islamic State will end its

work in Iraq in 2026.


ENFORCEMENT

SOCIETAL

BENEFITS

Supporting growth, funding public services

and underpinning the rule of law.

BY ALAN J. SMITH FCICM

PROFESSIONALISM in the

enforcement world is more

important today than it has ever

been as the sector seeks to ensure

it is delivering a fair and effective

service to businesses and individuals

across England and Wales.

“The enforcement sector therefore plays an important

role in supporting economic growth, funding public

services and underpinning the rule of law.”

Those were the words spoken by Alex Davies-Jones MP,

the Parliamentary Under Secretary of State for Justice

in a Westminster Hall debate around ‘bailiff regulation’

just last month.

It is refreshing to hear a Government Minister recognising

the value that enforcement brings to society in this way.

Whilst it is our CIVEA colleagues who play a valuable

role in funding public services in the way the Minister

describes, here in the High Court enforcement world we

also absolutely recognise the three pillars she is raising,

and the other two are central to our work.

Our members work on behalf of individuals and private

sector firms to support them in a wide range of ways and

supporting growth and underpinning the rule of law are

at the heart of what they, and the enforcement agents

working with them, do on a daily basis.

In the context of a challenging economic environment,

and expectations of high service standards right across

the economy, adopting a professional approach to

enforcement has never been more important.

High Court Enforcement Officers (HCEOs) and the

firms they are working with are delivering on that on

all fronts.

Investment and innovation

We’re investing in training and CPD for teams working

right across the enforcement business, whether that’s

enforcement agents working in the field or contact

centre teams engaging with debtors remotely.

Businesses have invested heavily in Body Worn Video

cameras and supporting software to ensure that agents’

actions in communities around the country are captured

and recorded. This provides undeniable evidence of how

agents, debtors and third parties have interacted together

as enforcement visits occur.

The recent independent research work undertaken by

the Enforcement Conduct Board showed that 94 percent

of all visits by accredited businesses were undertaken in

accordance with the current National Standards. That’s

a great – and independently verified – starting point

and we’re working hard to learn how we can minimise

the six percent so that we get an even higher compliance

figure in the future.

As an Association we’ve developed a professional

and independently assessed education pathway

for people to become fully qualified HCEOs by

partnering with the Chartered Institute of Credit

Management.

In favour of fairness

Last year the HCEOA commissioned an independent

survey of 2,000 members of the general public. We

wanted to better understand the public perception of

enforcement and enforcement agents from people from

across England and Wales.

Overall, the data and the feedback from the respondents

showed strong support for fair and effective enforcement:

• 83 percent agreed or strongly agreed that fair and

effective enforcement is a necessary part of the justice

system.

• 72 percent thought unpaid debt would increase without

fair and effective enforcement.

• There is strong public support for body worn video

cameras – 88 percent thought it’s important that all

enforcement agents wear them.

• Fairness to all involved – debtors and creditors – is a

really important principle that is clear throughout the

results and data.


CREDIT MANAGEMENT

• A majority of people said they trust ‘the judicial system’

to set and enforcement agents to follow the appropriate

rules – but there was a minority who don’t.

At the same time, we know there are improvements

that can be made in the infrastructure that supports

enforcement. Proper digitisation of Government systems

and greater freedom of choice for court users will benefit

the British public, take the pressure off the county court

system and generate additional income for both UK plc

and the Treasury.

For all of today’s technological advances however, the

reality remains that for many people in debt, a visit

from an enforcement agent is the first time that they’ve

actually received human contact about the issue. It’s an

emotive and sensitive topic and we rightly operate in a

highly regulated environment.

At the time of writing, enforcement fees haven’t

changed for 11 years, but we’re hopeful that Government

understanding the value of enforcement translates into a

government that realises it needs to be properly funded

in order to deliver the professional, fair and effective

system the country needs.

Our members have demonstrated they are ready to deliver.

Now it’s over to Ministers to play their part.

Alan J. Smith FCICM, is Chair of the High Court

Enforcement Officers Association.

THERE IS STRONG

PUBLIC SUPPORT

FOR BODY WORN

VIDEO CAMERAS

– 88 PERCENT

THOUGHT IT’S

IMPORTANT THAT

ALL ENFORCEMENT

AGENTS WEAR

THEM.


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Trusted

By

THE CICM

BRITISH CREDIT

AWARDS 2025

SUPPLEMENT SPECIAL

Brave | Curious | Resilient / www.cicm.com / March 2025 / PAGE 31


Recognising

the best in credit

management

What a night and what a celebration of the best in

credit management. As the professional body for our

industry, we understand what good looks like. And as the

organisers of the foremost event in the credit calendar,

supported by a team of highly-experienced judges from

all walks of credit industry life, we also understand what

excellence looks like. And here they are, in all their glory.

The winners of the British Credit Awards 2025 and the

very best that our industry has to offer.

Sue Chapple FCICM, CEO of the CICM.

Brave | Curious | Resilient / www.cicm.com /March 2025 / PAGE 33 continues on next page >

Sponsor: Atradius

Supporting the

Community Award

Judges’ comment: This organisation really

demonstrates how they want to ‘make the world

a better home’ with some great initiatives that

span a wide variety of causes including people

and nature.

Presenter: Pete Gent FCICM – CICM Executive Board Trustee.

Collector of award: Saint-Gobain Team.

Congratulations

Saint-Gobain Limited

Diversity, Equality and

Inclusion Project Award

Presenter: Yvette Gray MCICM, Executive Manager, Atradius Collections.

Collector of award: Dean Cottle MCICM & Louis Mercado.

Judges’ comment: A wonderful entry. ED&I

is evidently embedded into the culture and is

a primary focus for the business. EDI is clearly

celebrated in all areas of the business and by all

employees. The results that have been achieved

are brilliant.

Congratulations

Hays Specialist Recruitment Ltd


Sponsor: Court Enforcement Services

Debt Collection

Agency Award

Judges’ comment: An all-round strong

nomination from the clear focus on making

communication simple for clients and

debtors alike but with equal care for the team

members in relation to their well-being and

commitment to managing vulnerable cases.

Presenter: Sam Evans, Director of Business Development, Court Enforcement Services.

Collector of award: ARC (Europe) Ltd Team.

Highly commended: Bill Gosling Outsourcing.

Congratulations

ARC (Europe) Ltd

Best Use of

Technology Award

Presenter: Neil Jinks FCICM – CICM Executive Board Trustee and Chair.

Collector of award: British Gas and EXUS Team.

Judges’ comment: This impressive

implementation of technology, with a specific

focus on improving the customer experience

and aiding vulnerable customers, stood out to

our judges, making them a clear winner.

Congratulations

British Gas and EXUS



Legal Services Provider

of the year Award

Judges’ comment: With an interesting work

model and good approach to ESG, this winner

demonstrates how investing well in technology

streamlines onboarding and creates an all

round good working environment.

Sponsor: High Court

Enforcement Group

Presenter: Jason Wynne-Williams, Business Development Manager, High Court

Enforcement Group.

Collector of award: Jackie Ray FCICM & Nina Toor.

Highly commended: Brachers LLP.

Congratulations

Spencer West LLP

Innovation in

Credit Award

Judges’ comment: By introducing new

functionality to automate manual tasks,

with the ability to use different languages,

along with client testimonials and clear

benefits this submission was a clear winner.

Presenter: Allan Poole FCICM – Executive Board Trustee and CICM Vice

Chair. Collector of award: My DSO Manager Team.

Highly commended: EMEA O2C Team at Sage.

Congratulations

My DSO Manager


Technology

Development Award

Judges’ comment: The winner of this

award, identified a clear gap in the market

and filled it with a great tech product,

resulting is excellent cusomer benefits and

offering unique reporting.

Presenter: Luke Sculthorp FCICM - Head of CICM Strategic Relationships.

Collector of award: Dan Hancocks MCICM & David Boots.

Congratulations

CoCredo

Enforcement

Business of year Award

Presenter: Larry Coltman FCICM – CICM Executive Board Trustee.

Collector of award: Court Enforcement Services Team.

Judges’ comment: The judges saw a clear

winner with this very comprehensive and

impressive submission. Metric focused with a

clear development of reporting. A stand out and

well deserving winner.

Congratulations

Court Enforcement Services Ltd



Sponsor: Chaser

Global

Credit Award

Judges’ comment: This company has

shown some outstanding collaboration

between Technology and People, with a

growing global footprint.

Presenter: Sonia Dorais, CEO, Chaser.

Collector of award: Atradius Collectoins Team.

Congratulations

Atradius Collections

Risk Management

Award

Judges’ comment: The judges agreed this

was an excellent nomination showcasing the

impact of Vigilance and its immediate impact

in identfifying possible fraudulent behaviour

to help its customers. With the use of AI,

integration to existing tools with powerful

results, this is their clear winner.

Presenter: Glen Bullivant FCICM- CICM Executive Board Trustee and Treasurer.

Collector of award: Company Watch Limited Team.

Congratulations

Company Watch



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RISING STAR AWARD

Above: Brandon Robinson, Senior Recruitment Consultant announcing the winner

Below: Portfolio Credit Control with of our loyal clients

Contact one of our specialist recruitment consultants to

fill your vacancy or find your next career move!

Scan with your phone to fill your

vacancy or find your next career move

at www.portfoliocreditcontrol.com

LONDON 020 7650 3199

1 FINSBURY SQUARE, 3 RD FLOOR, LONDON EC2A 1AE

MANCHESTER 0161 523 5585

THE PENINSULA, VICTORIA PLACE, MANCHESTER M4 4FB

www.portfoliocreditcontrol.com

recruitment@portfoliocreditcontrol.com

Rising Star Award

Judges’ comment: This winner has already

taken on a lot of responsibility in different

credit roles within the department. They are

described as very enthusiastic with a great

attitude and appetite for Credit. The judges can

see a bright and impressive future.

Congratulations

Milly Rodman – Brabners LLP

Sponsor: Portfolio

Presenter: Brandon Robinson, Senior Recruitment Consultant,

The Portfolio Group.

Collector of award: Lyns Burgess.

Sir Roger

Cork Prize

Judges’ comment: This award if for the

student who achieves the highest aggregate

examination pass-marks within the calendar

year, taking account of all exam papers

completed in the January, March, June and

October examination series in which at least a

pass grade was achieved.

Congratulations

Coralene Humphries ACICM(Dip)

Presenter: Debbie Tuckwood, Chief Advisor (Professional

Development), CICM.

Collector of award: Coralene Humphries ACICM(Dip).



Jenny Oldfield Supporting

Women in Credit Award

Judges’ comment: Jenny Oldfield's unwavering

commitment to the CICM, and passion for

supporting women in the Credit and Collections

industry, lives on through this extraordinary

accolade, gifted by Jenny to encourage professional

growth and education in the field.

Presenter: Jules Eames FCICM(Grad) – Content and Resource Manager, CICM.

Collector of award: Samantha Davis.

Congratulations

Samantha Davis

Team Player of

the year Award

Judges’ comment: The judges described this

entry as outstanding, that shows a journey of

knowledge, skill and partnerships working

and developing though various sections of the

business, delivering change and strategies while

building bridges and partnerships.

Presenter: Atul Vadher FCICM(Grad) — Head of Collections, SEFE Energy.

Collector of award: Matthew Jones – EDF.

Congratulations

Matthew Jones - EDF Energy


Supplier of the

Year Award

Judges’ comment: With evidence of a pursuit

of excellence, innovation, philosophy and

recognition, this winner has demonstrated

the use of advanced risk management tools

to streamline process.

Presenter: Becki Sharpe ACIM – Marketing and Events Manager, CICM.

Collector of award: Company Watch Team.

Congratulations

Company Watch Limited

B2C Team of the

Year Award

Presenter: Debbie Nolan FCICM, Managing Director EPF Solutions

Collector of award: United Utilities Team.

Judges’ comment: With hard work

and dedication and perserverance, this

organisation has achieved a complete

turnaround with excellent results.

Congratulations

United Utilities Water Ltd



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Finalist

Supplier of the Year Award

chaserhq.com

Sponsor: Debt Register

B2B Team of the

year Award

Judges' comment: With regulatory and cost

of living challenges, this company evidences

how good internal Credit Management can

support the business but more importantly

its customers.

Presenter: Leia Solanki, Debt Register.

Collector of award: Zurich Insurance Team.

Highly commended: Anixter Ltd t/a Wesco. Anixter

Congratulations

Zurich Insurance

Sponsor: Global Credit Recoveries

Outstanding Contribution

to the Industry

Presenter: Joshua Mayhew MCICM, Managing Director, Global Credit

Recoveries Ltd.

Collector of award: Steven Barr – Sage Global Ltd.

Judges’ comment: With a very impressive

career and who our judges considered a

very inspirational credit leader, this winner

has shown stand out attributes as a Credit

Management professional as well as a

motivational leader. Their focus on improving

business, and social responsibiliity has shone

through this entry, making this a clear winner.

Congratulations

Steven Barr – Sage Global Ltd



Excellence in

Credit Management

Congratulations

EDF Energy

Presenter: Stephen Baister FCICM – CICM President.

Collector of award: EDF Energy Team.

Excellence in

Credit Management


Collector of award: Hays Specialist Recruitment Team.

Congratulations

Hays Specialist Recruitment Ltd


Excellence in

Credit Management

Congratulations

Imperial College London


Collector of award: Roy Ortiz.

Excellence in

Credit Management


Collector of award: Saint-Gobain Team.

Congratulations

Saint-Gobain Limited



Congratulations

to all the nominees

& award winners!

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and be proactive with the risk around

credit with BlackLine Invoice-to-Cash

To learn more visit

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Excellence in

Credit Management

Congratulations

United Utilities Water Ltd


Collector of award: United Utilities Water Ltd Team.

Credit Professional

of the Year Award

Emma Reilly FCICM

(Top Service Ltd)

Judges’ comment: The judges were impressed

with this submission, highlighting their journey,

passion, empathy and a support within the industry.

Described as an Unsung Hero, the winner of this

award is always going that extra mile.

Sponsor: Hays

Tina Daulton FCICM

(Biffa Waste Services Ltd)

Judges’ comment: A brilliant entry. This winner

is a very positive manager who inspires their

team, by encouraging them to produce their best

work every day. With impressive results achieved

and a wonderful career journey this winner is a

great example of a Credit Professional.

Presenter: Natascha Whitehead FCICM,

Senior Business Director, Hays.

Collector of award: Emma Reilly FCICM.

Presenter: Natascha Whitehead FCICM,

Senior Business Director, Hays.

Collector of award: Tina Daulton FCICM.





BRANCH NEWS

EMPOWERING

OUR CREDIT

PROFESSIONALS

AGM Report: The East of England Branch.

BY RICHARD BROWN FCICM

AT this virtual event, Branch

members, who are spread

over seven counties, were

treated to two cracking

presentations ahead of the

AGM.

Jules Eames, CICM's Content and Resource

Manager, presented CICM Performance Standards

– What They Are & How They Can Support You,

using her own professional career to show how

having, and using, performance standards has

helped her to both stay on track and to progress. She

emphasised the need for these standards, given the

diversity of activities in credit management and the

broad variety of skills and behavioural skills required

to succeed in the different roles. Jules talked though

examples suggested by the meeting, recommending

everyone to look at, and use, the Business Skills,

Behaviours, and Personal Skills detailed on the

CICM website.

Steve Walsh, Director of RSM Creditor Solutions

LLP, gave a Market Insolvency Update covering a

wide range of subjects and statistics. He outlined

the effects of 2024 changes to Debt Relief Orders,

the study showing that many Individual Voluntary

Arrangements were not fit for purpose, and

the position on corporate insolvencies, as well

as giving his personal view of the likely effect

on businesses of the October 2024 Budget, the

review of the Creditors' Voluntary Liquidation

process, directors disqualifications, and the

Economic Crime and Corporate Transparency Act.

After they answered the many questions, Branch

Chairman Atul Vadher thanked both Jules and Steve

for their comprehensive, informative presentations

and he welcomed Neil Jinks, CICM Executive

Council Chair to the AGM.

Atul said that in 2024 the Branch committee had

held twelve themed meetings, incorporating a bit

of fun as well as event planning, and three virtual

events:

• Demystifying the impact of AI on Credit and

Collections by Jamie Wroe and Daniel Gregory of

Invevo

• B2B E-Commerce – The New Gold Rush by Andy

Moylan, CEO of Efcis.

• The Whacky World of Credit Data by Tim

Wendholt of Corporate CPR.

In 2025 we intend to hold even more free of charge

physical and virtual events, including round tables,

and to post more than the 86 articles posted on the

Branch's LinkedIn group in 2024.

Last year Andy Jarman joined the Committee, and

Sean Frisby stood down and was thanked for his

support. The existing 10 members were elected to

form the 2025 Branch Committee, and subsequently

into roles, as was newcomer Karen Elliott. Atul

thanked everyone for attending and brought an

informative and fruitful evening to a close.

Author: Richard Brown FCICM Branch Vice Chairman

and Secretary.

Dear Branch Members,

If you have a branch event that you would like to be featured in the CM magazine, please submit your article to the Art Editor.

Articles should be no more than 400 words, and if you are providing images, they must be of high quality for print.

Please note that inclusion is subject to space and the editor’s approval. We look forward to showcasing your branch activities!


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Introducing our

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The UK’s No1 Insolvency Score, available as a

platform to help businesses manage risk and

achieve growth. The only independently owned

UK credit referencing agency for businesses. We

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Our Creditor Services team can advise on the best

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your debtors enters, or is approaching, insolvency

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Genius provides solutions designed to enhance your

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our team have decades of operational experience in

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Building on our mature and hugely successful

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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...

My DSO Manager is an intelligent SaaS AR and

credit management solution for SMEs to international

enterprises, helping AR analysts manage risk,

maximize cash collection and streamline the credit-tocash

cycle, by a real-time insight to KPIs.

Due to its inventive in-house IT teams and their tight

collaboration with support staff, many of whom were

credit managers at large firms, it can quickly integrate

any ERP data and customize as needed.

T: +33 (0)458003676

E: contact@mydsomanager.com

W: www.mydsomanager.com

Court Enforcement Services is the market

leading and fastest growing High Court Enforcement

company. Since forming in 2014, we have managed

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than £187 million for our clients, all debt fairly

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resulting in market-leading recovery rates. Our

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T: 07759 122503

E: s.evans@courtenforcementservices.co.uk

W: www.courtenforcementservices.co.uk

TCN is an industry leader in call centre technology

with offices around the world including, the United

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communication needs of its diverse customers.

Utilising best-practice solutions and 24/7 technical

support, TCN empowers clients to drive consumer

interactions through omni-channel, inbound and

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T: +44 (0) 800-088-5089

E: spencer.taylor@tcn.com

W: www.tcn.com

With over 45 years of experience in supporting

organisations in the successful delivery of multichannel

communications, CFH are the innovative

and trusted partner for driving engagement and

achieving measurable results. Combining proven

expertise, the right accreditations and industry

driven communication solutions including Docmail

the leading hybrid mail solution, CFH have the

perfect blend of solutions to help you engage offline,

online or the perfect blend of the two.

Top Service Ltd. The only credit information and

debt recovery service provider specifically for the

UK construction industry. Our payment experiences

are the most up to date credit information available

and enable construction businesses to confidently

assess credit risk and make the best, most informed

credit decisions. Coupled with our range of effective

debt recovery solutions, quite simply our members

stay one step ahead and experience less debt and

more cash.

Dun & Bradstreet is a leading provider of

comprehensive global business data and

analytics. We help clients make smarter decisions

and drive resilience by bringing together millions

of data sources into a globally consistent view,

underpinned by our D-U-N-S number.

T: 01761 416311

E: info@cfh.com

W: www.cfh.com

T: +44 1527 503990

E: membership@top-service.co.uk

W: www.top-service.co.uk

TOP SERVICE

MINIMISE DEBT

MAXIMISE C ASH

T: +44 (0)808 239 7001

E: hello@dnb.com

W: www.dnb.co.uk

Key IVR provide a suite of products to assist

companies across Europe with credit management.

The service gives the end-user the means to make a

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In a credit management environment, these services

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E: partners@keyivr.com

W: www.keyivr.com

American Express® is a globally recognised

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T: +44 (0)1273 696933

W: www.americanexpress.com

For further information

and to discuss the

opportunities of entering

into a Corporate

Partnership with the

CICM, please contact:

luke.sculthorp@cicm.com


Awarded Debt Collection Agency of the Year

2023, Global Credit Recoveries Ltd are specialists

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Contact Global Credit Recoveries:

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Email: info@globalcreditrecoveries.com

U.K Telephone: +44 (0) 203 589 6655

U.A.E Telephone: +971 (0) 4 8790 250

www.globalcreditrecoveries.com


HR MATTERS

WORK IT OUT

Navigating Right to Work checks.

BY GARETH EDWARDS

FOR some time, Governments have

sought to control immigration, but

it was the Asylum and Immigration

Act 1996 that first introduced right

to work checks in the UK from 1997.

This legislation required employers

to verify the immigration status

of their employees to ensure that they were legally

allowed to work in the UK.

Over the years, the requirements for these checks

have evolved and become more rigorous, with the

introduction of the online Right to Work Checking

Service in 2019 being the most recent development.

Right to Work checks in the UK are a crucial part of

immigration control. Employers must ensure that their

staff have the legal right to work in the UK before they

commence employment. Failure to do so can lead to

severe legal and financial penalties.

But as with much legislation the devil is in the detail

and an employer’s legal obligations and the processes

for conducting Right to Work checks are not simple.

It makes sense to explore the consequences of noncompliance,

and some of the recent - and forthcoming

- changes to the law.

Background to new rules

As noted earlier, the requirement for Right to Work

checks dates back to the Immigration and Asylum

Act 1996, which set out the obligation on employers

to check their employees' immigration status. This

was formalised by the Immigration, Asylum and

Nationality Act 2006, which made it a criminal offence

to knowingly employ someone without the legal right

to work in the UK. The Immigration Act 2014 further

tightened these measures.

With the UK's exit from the European Union and the

subsequent changes to the immigration system, Right

to Work checks have become even more crucial. In

response to these changes, the process for carrying

out these checks was updated on 23 September 2024.

Employers must follow the framework in place at the

time of hiring to assess whether appropriate checks

have taken place.

What the law requires

Employers must verify that all of their employees have

the legal right to work in the UK before they begin

their employment. This requirement applies to all

workers, including British citizens, EU nationals, and

individuals from outside the EU.

The Immigration, Asylum and Nationality Act

2006 imposes a civil penalty for employing someone

without permission to work in the UK. Furthermore,

if the employer takes on someone, knowing or having

"reasonable cause to believe" that person did not

have the appropriate immigration status, they will be

committing a criminal offence.

However, if an employer conducts the appropriate

Right to Work check, they can establish a statutory

excuse against prosecution, provided they follow the

correct procedures. There are very limited exceptions

to these requirements, so the Home Office advises

employers to check the right to work for all workers,

including agency staff (notwithstanding that these

should be checked by the agency, and it should be

documented that the agency is responsible for these

checks).

Employers need to check

Employers must check that all employees have a

valid immigration status that permits them to work

before the employment commences. Specifically, the

employer needs to verify whether the employee:

• Is a UK citizen or has indefinite leave to remain (e.g.,

a British passport, or a biometric residence permit).

• Has a valid visa or work permit that permits them to

take up the type of work in question.

• Has a right to work under an EU or European

Economic Area (EEA) agreement, if applicable

(before the end of the transition period for Brexit,

from January 2021, this no longer applies to EU

citizens unless they have settled or pre-settled

status).

• Holds a time-limited work permit or visa (e.g., a

student visa with work restrictions or a Tier Two visa).



HR MATTERS

Employers should request original documents that

confirm the employee’s right to work, ensuring these

documents are genuine and unaltered. Examples

include a passport or national identity card; biometric

residence permit or card; visa or immigration status

document (e.g. Tier Two visa); or Home Office

documentation confirming employment rights (e.g. a

letter from the Home Office).

The statutory excuse

To comply with the law, employers must conduct

a Right to Work check before an individual begins

employment. Checks can be conducted manually or

online. The process consists of three stages:

Obtain: Employers should obtain original documents

when checking manually and confirm that the

individual is who they claim to be and is permitted to

work in the UK. When checking online, the employee

provides a share code, which the employer can use to

access the check.

Check: The employer must verify the validity of the

documents. This includes ensuring the document is

current (not expired or revoked) and matches the

individual in question. The Home Office offers an

online service to help with this process.

Copy: The employer must retain copies of the original

documents and store them securely. Photocopies or

scanned copies are acceptable, as long as the scanned

files cannot be altered. Employers must also record the

date the check was conducted.

If an employee has a time-limited right to work - i.e.

an expiry date on their visa, the employer must follow

up before the expiration date to ensure continued

compliance.

If these procedures are followed correctly, the employer

has a statutory excuse against liability for employing

someone illegally.

Defending a charge

If an employer has been charged with employing an

individual who lacks the right to work, they can defend

themselves by showing they carried out a proper Right

to Work check at the time of hiring. This statutory

excuse is only valid if the employer followed the

prescribed procedures and maintained proper records.

If the employer can demonstrate compliance, they may

avoid penalties or prosecution, even if the employee

was later found to be working illegally.

Penalty regime

The penalty regime for employing individuals illegally is

stringent. Employers who fail to carry out the required

Right to Work checks face penalties that include

a civil penalty of up to £60,000 per illegal worker

found. Notably, in February 2024, the civil penalty was

STAYING UP-

TO-DATE WITH

RECENT AND

FORTHCOMING

CHANGES IN

IMMIGRATION

LAW IS

ESSENTIAL FOR

COMPLIANCE

AND AVOIDING

PENALTIES.


CREDIT MANAGEMENT

increased to a maximum £45,000 per illegal worker for

a first breach up from £15,000, and a maximum £60,000

per illegal worker for repeat breaches up from £20,000.

Additionally, employers face possible criminal

prosecution for knowingly employing someone

without the right to work, which can result in

an unlimited fine or up to five years in prison – or

both.

In addition to financial penalties, employers can

suffer reputational damage and may be disqualified

from holding certain public sector contracts, where

compliance with immigration law is mandatory. Illegal

workers will likely be removed from their roles, and

their earnings can be seized under the Proceeds of

Crime Act 2002.

Employers should check

Right to Work checks must be carried out for

all employees. Employers cannot determine an

individual’s right to work based on characteristics

revealed during recruitment, such as nationality,

ethnicity, or appearance. Selectively applying checks

is discriminatory under the Equality Act 2010 and is

unlawful.

Employers must treat all prospective employees

equally, regardless of nationality or immigration

status. However, the type of check varies based on the

nationality of the employee. British or Irish nationals

can have their Right to Work checked manually or

using an Identity Service Provider (IDSP). Non-UK

employees will undergo checks using the Home Office

online service or through manual checks, depending

on the documentation they present.

Recent changes

Several important changes to the Right to Work

process have recently been implemented.

From 6 April 2022, employers were required to use

online checks to verify an employee’s right to work,

replacing the previous option of accepting physical

documents like Biometric Residence Permits (BRPs),

Biometric Residence Cards (BRCs), or Frontier

Worker Permits. This change is part of the Home

Office’s broader goal to digitalise the immigration

system by 2025.

From 26 January 2023, employers could check the right

to work of eVisa holders with a pending Home Office

application without using the Employer Checking

Service.

From 17 October 2023, employers no longer needed to

contact the Employer Checking Service for individuals

with a digital Certificate of Application under the EU

Settlement Scheme (EUSS).

EMPLOYERS

MUST CHECK

THAT ALL

EMPLOYEES

HAVE A VALID

IMMIGRATION

STATUS THAT

PERMITS

THEM TO

WORK.

From 21 May 2024, employers no longer needed to

conduct follow-up checks on employees with presettled

status under the EU Settlement Scheme. And

from 1 January 2025, the UK immigration system

became a fully digital process. As part of this, physical

BRPs will no longer be valid, and employers will need

to encourage affected employees to create a UK Visas

and Immigration (UKVI) account in advance

These changes are aimed at streamlining the process,

but practical implementation has yet to take place.

Summary responsibility

Employers have a critical role in ensuring their

employees have the legal right to work in the UK.

Failing to carry out the necessary Right to Work

checks can result in severe penalties, including fines,

criminal prosecution, and reputational damage.

In essence, employers must verify their employees’

right to work before employment begins, retain copies

of relevant documents, and conduct follow-up checks

when necessary.

Staying up-to-date with recent and forthcoming

changes in immigration law is essential for compliance

and avoiding penalties. By following the correct

procedures, employers can safeguard their business and

help maintain the integrity of the UK’s immigration

system.

Author: Gareth Edwards is a partner in the employment

team at VWV.


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EXCLUSIVE PAYMENT TRENDS

UPHILL

TASK

Late payment figures on the rise across

the UK and Ireland.

BY ROB HOWARD

AFTER consecutive months of

forward momentum in the

world of late payments, things

appear to have hit a bit of a snag,

with the latest data showing late

payments rising right across the

board. The average Days Beyond

Terms (DBT) across UK regions and sectors increased

by 3.8 and 4.0 days respectively. In Ireland, the average

figures increased by 4.6 and 3.5 days respectively, and

average DBT across the four Irish provinces rose by 2.8

days.

Sector Spotlight

Across the UK, 18 of the 22 sectors are moving in the

wrong direction. The Real Estate sector saw the biggest

slide, with a hit of 12.2 days taking its overall DBT to

19.8 days, making it the worst performing UK sector.

Elsewhere, the Manufacturing (+9.5 days), Energy Supply

(+9.4 days) and Health and Social (+9.2 days) sectors

all drop into the bottom five poorest paying sectors

following sharp increases to DBT. Of the four sectors

moving in the right direction, the Other Services sector

(which includes dry cleaners, hairdressers and other

beauty services, through to membership organisations)

made the biggest improvement, cutting its DBT by 2.7

days.

taking its overall tally to 14.6 days. Northern Ireland

takes the title of worst performing region with an overall

DBT of 14.8 days, following a rise of 5.6 days. Increases

for East Anglia (+4.8 days) and the South East (+4.6

days) mean they also drop into the bottom five worst

performing regions.

The outlook isn't much brighter in Ireland, with some 22

of the 26 counties seeing rises to DBT, and a number of

these are significant. Waterford, for instance, which was

among the biggest improvers last month, saw the biggest

jump, with a whopping hit of 19.5 days taking its overall

DBT to 20.8 days. Elsewhere, Westmeath (+14.7 days),

Monaghan (+11.0 days) and county Kildare (+8.6 days) all

saw steep increases to DBT.

Of the four Irish provinces, Ulster was the only region to

make an improvement, albeit a minor one, reducing its

DBT by 0.1 days. Munster (+6.1 days), Leinster (+3.8 days)

and Connacht (+1.7 days) are all going backwards.

It’s a similar story over in Ireland, with 15 of the 20

sectors seeing increases to DBT and sliding down the

rankings. The IT and Comms sector saw the biggest hit,

with an increase of 10.4 days taking its overall DBT to

13.8 days. The Agriculture, Forestry and Fishing (+8.9

days) and Education (+8.5 days) sectors also tumble

down the standings following rises to DBT, taking their

overall figures to 11.5 and 11.2 days respectively. Both the

International Bodies and Water and Waste sectors saw

no change to DBT, meaning they remain top and bottom

of the standings respectively, with an overall DBT of zero

days and 27.0 days respectively.

Regional Spotlight

It’s a clean sweep across UK regions, with all 11 regions

seeing increases to DBT. The South West has dropped

from the second-best to the second-worst performing

region, following an increase of 7.0 days to its DBT,


*

STATISTICS

Data supplied by the Creditsafe Group

Top Five Prompter Payers

Region (UK) 25th Jan Changes from 24th Dec

West Midlands 9.6 1.1

Scotland 10.0 3.1

London 10.5 1.3

East Midlands 11.8 4

Wales 11.9 3.8

Bottom Five Poorest Payers

Region (UK) 25th Jan Changes from 24th Dec

Northern Ireland 14.8 5.6

South West 14.6 7

East Anglia 13.7 4.8

North West 12.8 3.5

South East 12.6 4.6

Getting worse

Real Estate 12.2

Manufacturing 9.5

Energy Supply 9.4

Health & Social 9.2

Public Administration 6.6

Agriculture, Forestry and Fishing 6.3

Dormant 6.1

Entertainment 4.6

IT and Comms 4.1

Mining and Quarrying 3.7

Top Five Prompter Payers

Sector (UK) 25th Jan Changes from 24th Dec

International Bodies 3.8 2.3

Financial and Insurance 6.2 -1.1

Professional and Scientific 6.2 -1.5

Other Service 7.7 -2.7

Education 8.9 3.4

Bottom Five Poorest Payers

Sector (UK) 25th Jan Changes from 24th Dec

Real Estate 19.8 12.2

Manufacturing 18.6 9.5

Dormant 17.7 6.1

Health & Social 16.7 9.2

Energy Supply 14.0 9.4

Transportation and Storage 3.5

Water & Waste 3.4

Education 3.4

Wholesale and retail trade 3.3

Construction 2.9

International Bodies 2.3

Business Admin & Support 1.8

Hospitality 1

Getting better

Other Service -2.7

SCOTLAND

3.1 DBT

Professional and Scientific -1.5

Financial and Insurance -1.1

NORTHERN

IRELAND

5.6 DBT

SOUTH

WEST

7.0 DBT

WALES

3.8 DBT

NORTH

WEST

3.5 DBT

WEST

MIDLANDS

1.1 DBT

YORKSHIRE &

HUMBERSIDE

3.3 DBT

EAST

MIDLANDS

4.0 DBT

LONDON

1.3 DBT

SOUTH

EAST

4.6 DBT

EAST

ANGLIA

4.8 DBT

Business from Home -0.4

Region

Getting Worse

7.0

5.6

4.8

4.6

4.0

3.8

3.5

3.3

3.1

1.3

1.1

South West

Northern Ireland

East Anglia

South East

East Midlands

Wales

North West

Yorkshire and Humberside

Scotland

London

West Midlands


EXCLUSIVE PAYMENT TRENDS

Getting worse

CONNAUGHT

1.7 DBT

DONEGAL

2.8 DBT

MONAGHAN

16.0 DBT

IT and Comms 10.4

Agriculture, Forestry and Fishing 8.9

Education 8.5

Transportation and Storage 6.9

MUNSTER

6.1 DBT

LIMERICK

1.4 DBT LEINSTER

3.8 DBT

ROSCOMMON

1.4 DBT

WESTMEATH

14.7 DBT

WEXFORD

7.6 DBT

WICKLOW

-0.1 DBT

Construction 5.6

Public Administration 5.5

Manufacturing 5.4

Other Service 5.0

WATERFORD

19.5 DBT

Wholesale and retail trade; repair of

motor vehicles and motorcycles 4.9

Top Five Prompter Payers – Ireland

Region 25th Jan Changes from 24th Dec

Donegal 3.9 2.8

Limerick 5.4 1.4

Wicklow 6.3 -0.1

Offaly 6.9 4.9

Leitrim 7.5 5.5

Bottom Five Poorest Payers – Ireland


Roscommon 21.9 1.4

Waterford 20.8 19.5

Wexford 19.6 7.6

Westmeath 16.5 14.7

Monaghan 16.0 1.1

Top Four Prompter Payers – Irish Provinces


Ulster 9.2 -0.1

Munster 10.7 6.1

Leinster 12.4 3.8

Connacht 15 1.7

Health & Social 3.7

Hospitality 3.1

Mining and Quarrying 2.3

Financial and Insurance 2

Professional and Scientific 1.9

Business Admin & Support 0.8

Getting better

Real estate -2.6

Entertainment -0.3

Top Five Prompter Payers – Ireland

Sector 25th Jan Changes from 24th Dec

International Bodies 0 0

Mining and Quarrying 3.4 2.3

Entertainment 5.0 -0.3

Other Service 6.7 5

Financial and Insurance 7.5 2

Bottom Five Poorest Payers – Ireland

Sector 25th Jan Changes from 24th Dec

Water & Waste 27.0 0

Transportation and Storage 17.0 6.9

Professional and Scientific 16.7 1.9

Manufacturing 16.0 5.4

Business Admin & Support 14.4 0.8

Nothing changed

Energy Supply 0

International Bodies 0

Water & Waste 0


LOOKING FOR

YOUR NEXT

CAREER MOVE?

BILLING MANAGER (TELECOM/SATCOM)

Redhill, £40k-£50k

This is an exciting opportunity to join a growing organisation,

in a pivotal role within the business. You will ensure

accurate billing, while overseeing the monthly billing cycles.

Responsibilities will also include managing and training the

Billing team, handle complex billing scenarios, and generate

reports. Candidates must have complex billings experience gain

in a Telecom or Satcom environment. Ref: 4650628

Contact Kitty Ford on 0333 010 633

or Kitty.ford@hays.com

ACCOUNTS RECEIVABLE ASSISTANT

Shoreditch, £35k

An events company based in Shoreditch is looking for an

Accounts Receivable Assistant to join them on a temporary

to permanent basis. The company is looking for someone to

accurately produce invoices, collect payments, resolve queries

and reconciling accounts, using QuickBooks. The team is

vibrant and dynamic, with opportunities for growth.

Ref: 4642638

Contact Katie Bohun on 0333 010 7453

or Katie.bohun@Hays.com

CREDIT CONTROL MANAGER

Southwest London, £36k + OTE £750 per quarter

A leading financial service provider based in the heart of leafy

West London is on the market for an up an up-and-coming

credit control manager to lead a team of three credit controllers,

working in a vibrant and busy office environment. Experience

in dealing with B2C collections, supervising, mentoring, or

managing a team in a call centre, customer service environment

is desirable. Ref: 4654108

Contact Mark Ordona on 07565 800574

or mark.ordona@hays.com

CREDIT CONTROLLER

Birmingham, £30k

Hays are supporting a high growing manufacturing organisation

based in Birmingham that is recruiting for a credit controller

on a permanent basis. You will be part of a small but growing

team and will be managing up to 300 live accounts. Duties

will include cash collection, query resolution and account

management. The role is hybrid working in the office 3 days a

week. Ref: 4655167

Contact Henry Brook on 0333 010 7517

or henry.brook@hays.com

hays.co.uk/credit-control-jobs


© Copyright Hays plc 2025. The HAYS word, the H devices, HAYS WORKING FOR YOUR TOMORROW and Powering the world of work and associated 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-00751

CREDIT CONTROLLER

Southwark, London, £29k

We are looking for a finance graduate or someone with

some transactional finance experience to join a global

logistics business, in a role that offers full training and career

progression. Working in a fast-paced environment, you will

be responsible for raising accurate invoices and contacting

customers to secure payments. The role is 1 day in the office

based in Southwark. Ref: 4654705

Contact Hussain Ahmed on 0333 010 7453

or Hussain.Ahmed@hays.com

CREDIT CONTROLLER

Sale, Trafford, £27k

Reporting to the Credit Manager, you will work as part of a

small finance team and be tasked with managing a B2B ledger,

chasing overdue monies by telephone and email, allocating

payments & customer query resolution. Proficiency in Excel

(Pivot tables and V-Look ups would be advantageous.) Full

office based 9am-5pm. Excellent company benefits and free

onsite parking. Ref: 225172RT

Contact Joanna Taylor-Coburn on 0161 926 8605

or joanna.taylor-coburn@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.

Discover new

opportunities today


CreditWho?

CICM Directory of Services

COLLECTIONS

COLLECTIONS LEGAL

CREDIT DATA AND ANALYTICS

Controlaccount

Compass House, Waterside, Hanbury Road, Bromsgrove,

Worcestershire B60 4FD

T: 01527 386 610

E: sales@controlaccount.com

W: www.controlaccount.com

Controlaccount 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 cash

flow, 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 40,000 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.

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

MIL Collections Ltd.

Palace Building, Quay Street, Truro,TR1 2HE

M: 07961578739 E: GaryL@milcollections.co.uk

W: www.milai.co.uk

From our dedicated office in Truro, Cornwall, our team of over

50 staff work tirelessly to ensure our clients expectations are not

just met but exceeded.

We offer clients an experienced, dedicated and regulated

collection service. From small sundry invoices through to

complex property cases and overseas jurisdictions we can

help our clients recover what is due to them in a fair and timely

manner.

Added to the ISO certification, MIL is a pioneer bringing AI

to the collections world with a platform dedicated to ensure

customers are treated fairly and clients work is managed

effectively.

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.”

CREDIT DATA AND ANALYTICS

CoCredo

Missenden Abbey, Great Missenden, Bucks, HP16 0BD

T: 01494 790600

E: customerservice@cocredo.com

W: www.cocredo.co.uk

For over 20 years, CoCredo, one of the UK's leading Credit

Report companies, has helped thousands of business customers

minimise their bad debt. Our data is compiled and constantly

updated from various prominent UK and international suppliers,

encompassing 235 countries, so our clients can access the latest

information in an easy-to-read report. Our product and service

solutions are tailored to meet our clients' needs, including marketleading

Dual Reports and integrated XML solutions, monitoring,

and our D.N.A. Credit Risk Management tool that reduce

costs and boost cashflow.Since 2014, we have been finalists

and winners of Small Business and Credit Awards. Our clients

appreciate our involvement in their customer journey, resulting in a

99% client retention rate.

DataTrace UK

Compass House, Waterside, Hanbury Road, Bromsgrove,

Worcestershire B60 4FD

T: 01527 386 626

E: info@datatraceuk.com

W: www.datatraceuk.com

DataTrace is recognised as one of the leading trace agencies in

the UK. Our client portfolio includes leading debt collection and

enforcement firms, utilities companies, housing associations,

law practices and universities. Providers of volume electronic

trace services, enhanced desktop tracing, employment and

international tracing, propensity to pay reporting, address and

telephone appending, and pre-litigation reports. We can build

a bespoke workflow to meet your data needs. All our data is

validated and priced competitively.

Dun & Bradstreet

T: 0808 239 7001

E: hello@dnb.com

W: www.dnb.co.uk

At Dun & Bradstreet, we have a standardised risk approach to

help make confident, timely, and accurate lending and credit

decisions. We help businesses access up-to-date and timely

data on hundreds of millions of global businesses. And we

don’t limit how often you’re able to run checks on businesses in

your portfolio. So, you can be sure you always have the latest

information on the companies you choose to do business with

– whether micro businesses run by a single person right up to

large, international enterprises.

TOP SERVICE

MINIMISE DEBT

Top Service Ltd

Top Service Ltd, 2&3 Regents Court, Far Moor Lane

Redditch, Worcestershire. B98 0SD

T: 01527 503990

E: membership@top-service.co.uk

W: www.top-service.co.uk

MAXIMISE C ASH

The only credit information and debt recovery service provider

specifically for the UK construction industry. Our payment

experiences are the most up to date credit information available

and enable construction businesses to confidently assess credit

risk & make the best, most informed credit decisions. Coupled

with our range of effective debt recovery solutions, quite simply

our members stay one step ahead & experience less debt &

more cash.

CREDIT MANAGEMENT SOFTWARE SOFT-

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.


FOR ADVERTISING INFORMATION OPTIONS

AND PRICING CONTACT

paul.heitzman@cplone.co.uk – 01727 739 196



ENFORCEMENT

Corcentric

Information: Ali Hassan| 020 317 71713

ahassan@corcentric.com | corcentric.com

Social media links: https://www.linkedin.com/company/

corcentric/, https://x.com/corcentric?lang=en-GB

Membership can go to: Lee Allen lallen@corcentric.com

Jonathan BlackBurn jblackburn@corcentric.com

Ali Hassan ahassan@corcentric.com

About Corcentric: Corcentric is a leading global provider

of best-in-class procurement and finance solutions. We

offer a unique combination of technology and payment

solutions complemented by robust advisory and managed

services. Corcentric reduces stress and increases savings

for procurement and finance business leaders by forming a

strategic partnership to diagnose pain points and deliver tailormade

solutions for their unique challenges. For more than two

decades, we've been a trusted partner who delivers proven

results. To learn more, please visit www.corcentric.com.

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-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 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.

Genius Software Solutions

T: +44 (0) 141 280 0275

E: sales@geniusssl.com

W: www.geniusssl.com

Genius provides solutions designed to enhance your customer

engagement with compliance in full focus; our team have decades

of operational experience in the Debt & BPO space.

As a global outreach partner our technology drives compliance

and operational efficiency to help your business thrive.

• Streamline Collections, Payments & Asset Recovery, whether this

be in-house or within a BPO setting with our Adept platform.

• Enhance customer engagement with our cloud-based

omnichannel platform, Commpli.

We've helped businesses worldwide enhance efficiency, optimise

workflows, and respond to the dynamic needs of a changing

marketplace.

My DSO Manager

22, Chemin du Vieux Chêne,

Bâtiment D, Meylan, FRANCE

T: +33 (0)458003676

E: contact@mydsomanager.com

W: www.mydsomanager.com

My DSO Manager is an all-in-one intelligent SaaS accounts

receivable and credit management system that provides

real-time insight and scalability from SMEs to international multientity

companies. It helps AR analysts, accounting or finance

managers, and any client-facing employee, manage risk and

maximize cash collection.

It can swiftly integrate any kind of data from any ERP and

implement any customization due to its creative, competent IT

teams that are headquartered inside the firm and collaborate

closely with support employees, many of whom were formerly

credit managers at big corporations.

The feature-rich functions, automated reminders, alerts, and

numerous services connected to the solution, such as EDM/

CRMs/insurance/e-payment/BI platforms etc., along with

a reasonable pricing system, have simplified the credit-tocash

cycle by monitoring daily KPIs like DSO, aging balance,

overdues/past-dues, customer behavior, and cash forecast.

My DSO Manager's worldwide clientele are its real

ambassadors, who assist the company in expanding on an

ongoing basis.

TCN

T: +44 (0) 800-088-5089

E : spencer.taylor@tcn.com

W: www.tcn.com

TCN is a leading provider of cloud-based call centre technology

for enterprises, contact centres, BPOs, and collection

agencies worldwide. Founded in 1999, TCN combines a deep

understanding of the needs of call centre users with a highly

affordable delivery model, ensuring immediate access to robust

call centre technology, such as SMS, email, predictive dialler,

IVR, call recording, and business analytics required to optimise

operations while adhering to callers’ requests.

Its “always-on” cloud-based delivery model provides customers

with immediate access to the latest version of the TCN solution,

as well as the ability to quickly and easily scale and adjust to

evolving business needs. TCN serves various Fortune 500

companies and enterprises in multiple industries, including

newspaper, collection, education, healthcare, automotive,

political, customer service, and marketing. For more information,

visit www.tcn.com or follow on Twitter @tcn.

DEBT & ASSET RECOVERY SERVICE

Shakespeare Martineau

E: jayne.gardner@shma.co.uk,

W: www.shma.co.uk

T 01789 416440

Shakespeare Martineau provides expert debt and asset

recovery services across various sectors, including energy,

manufacturing and Government. Our team supports regulated

and unregulated debt, acting as an extension of internal

collections when needed. We prioritise keeping client costs low

while empathetically engaging with debtors. Our 70+ experts

offer cradle-to-grave B2B and B2C collections, transparent

fee plans, bespoke service, flexible case management, and

additional support like training, advice, litigation and mediation.

Court Enforcement Services

Samuel Evans – Director of Business Development

T: 07759 122503

E : s.evans@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-award-winning 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.

High Court Enforcement Group Limited

Client Services, Helix, 1st Floor, Edmund St, Liverpool, L3 9NY

T: 08450 999 666

E: clientservices@hcegroup.co.uk

W: hcegroup.co.uk

Why choose us?

With over £400 million recovered for our clients, our track

record is second to none. We have enforced over 320,000 writs

of control and are committed to providing you with a unique

and personalised service. Our enforcement agents cover all of

England and Wales, are trained to the highest standards and

each holds strong local knowledge of the areas they cover.

Our clients rate our service extremely highly, with a 99%

satisfaction score in our most recent annual survey.

You can rely on us, the largest independent High Court

enforcement company in the UK, with the highest number of

HCEOs and a wealth of experience across all our teams.

ENGAGEMENT

CFH Docmail

T: 01761 416311

E: info@cfh.com

W: www.cfh.com

With over 45 years of experience in supporting organisations in

the successful delivery of multi-channel communications, CFH

are the innovative and trusted partner for driving engagement

and achieving measurable results.

Combining proven expertise, the right accreditations and

industry driven communication solutions including Docmail the

leading hybrid mail solution, CFH have the perfect blend of

solutions to help you engage offline, online or the perfect blend

of the two.

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

best-known 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.



CreditWho?


FOR ADVERTISING INFORMATION

OPTIONS AND PRICING CONTACT

paul.heitzman@cplone.co.uk

INSOLVENCY

PAYMENT SOLUTIONS

RECRUITMENT

Red Flag Alert Technology Group Limited

49 Peter Street, Manchester, M2 3NG

T: 0330 460 9877

E: sales@redflagalert.com

W: www.redflagalert.com

The UK’s No1 Insolvency Score is available as platform

designed to help businesses manage risk and achieve growth

using real-time data. The only independently owned UK credit

referencing agency for businesses. We have modernised the

way companies consume data, via Graph QL API and apps for

many CRM / ERP systems to power businesses decisions with

the most important data taken in real-time feeds, ensuring our

customers are always the first to know.

Red Flag Alert has a powerful portfolio management tool

enabling you to monitor all your customers and suppliers so

you and your teams can receive email alerts on data events

i.e. CCJ, Petitions, Accounts, Directors, amongst 84 alerts

produced and tailored to your business.

Red Flag Alert works towards growing and protecting

businesses using advanced machine learning and AI

technology data to provide businesses with information

to deliver best in class sales, credit risk management and

compliance.

Menzies LLP

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

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

W: Menzies LLP.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 LLP Creditor

Services team can assist, please contact Bethan Evans,

Licensed Insolvency Practitioner, at bevans@Menzies LLP.

co.uk or call +44 (0)2920 447 512.

Key IVR

T: +44 (0) 1302 513 000 Opt 3 E: partners@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.

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.

RECRUITMENT

Hays Credit Management

107 Cheapside, London, EC2V 6DN

T: 07834 260029

E: karen.young@hays.com

W: www.hays.co.uk/creditcontrol

Hays Credit Management is working in partnership with the

CICM and specialise in placing experts into credit control jobs

and credit management jobs. Hays understands the demands

of this challenging environment and the skills required to thrive

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

and contract based opportunities to find your ideal role. Our

candidate registration process is unrivalled, including faceto-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 award-winning 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 face-to-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.

DCS

T: 01656 663 930

E: Jason@creditpro.co.uk

W: www.dcscreditjobs.co.uk

DCS is a specialist Credit Management Recruitment

Company with over 18 years of experience, supplying

Credit Professionals at all levels.

We supply high calibre candidates to our clients within the

FinTech, Credit, Collections, Enforcement and Legal Industry.

We also cover many different sectors listed below

Utilities Gas / Electric / Water / Collections

International Collections & Credit Insurance

DCA Collections, Legal, Enforcement & Asset Recovery

Credit Information, Credit Management Software, Data &

Analytics, Invoice Factoring and Invoice Discounting,

Insolvency, Payment Solutions, Parking, Banking.

CreditWho?


For advertising information

options and pricing contact

paul.heitzman@cplone.co.uk 01727 739 196


View our digital version online at www.cicm.com

Log on to the Members’ area, and click on the tab

labelled ‘Credit Management magazine’

Just another great reason to be a member

Credit Management is distributed to the entire UK and international

CICM membership, as well as additional subscribers

Brave | Curious | Resilient

www.cicm.com | +44 (0)1780 722900 | editorial@cicm.com

EXPERIENCED

DEDICATED

AGENTS

ETHICAL

CUSTOMER

SERVICE

EFFICIENT

COLLECTIONS

CASH FLOW

CURE

DEBT

PURCHASE

TRACING &

GLOBAL

COLLECTIONS

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Revolutionary Utility, Commercial

& Consumer Debt Services

CM March 2025

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