CM September 2020
The CICM magazine for consumer and commercial credit professionals The CICM magazine for consumer and commercial credit professionals
CICM MEMBER EXCLUSIVE Your CICM lapel badge demonstrates your commitment to professionalism and best practice TAKE PRIDE IN WEARING YOUR BADGE If you haven’t received your badge contact: cicmmembership@cicm.com MANAGING THE NEW CREDIT FUTURE Prepare and act now, for the Credit world of tomorrow. As the world continues to react to constant change, our credit profession needs to prepare for the new credit future. Debt management • Adjust collections and recovery strategies to fit the changing financial environment • Use KYC ‘know your customer’ to understand the customers in true financial difficulty • Focus skilled staff on long term management of aging debt with a propensity for resolution • Remove ‘uneconomical to collect’ debt from ledger via third party action, sale or write off Employees • Upskill staff for a new credit future through training and qualification programmes • Review and bolster support mechanisms that cater for the wellbeing of employees • Consult and trial agile working arrangements with touch points to check feasibility Cash resilience • Firm up honest and realistic cash forecasting projections and review them frequently • Tighten processes for quick & efficient cash collection, allocation and recovery referral • Calculate provision for bad and doubtful debt & review validity and value of securities • Agree new risk assessment protocols for ledger-wide vetting of new and existing customers • Review and strengthen supply chain, renegotiating contract terms in the new climate. Future proof strategies • Fine-tune the exit strategy, showing a roadmap of short, mid and long-term objectives • Align Credit Policy, processes, KPIs and contingencies to the organisation’s new risk strategy • Check processes are in place to allow for new and future flexible ways of operating • Secure debt and ledger management software to automate manual tasks Communication • Maintain Senior Management visibility with short, frequent reports linked to overall objectives • Reaffirm supply chain relationships with bespoke contact that builds plans for future trading • Hold staff e-meetings briefly and often to focus WFH and office-based staff in a common goal • Create cross functional work plans with re-emerging departments, to leverage help 01780 722900 | info@cicm.com Access help from CICM Follow the CICM Managing the New Credit Future Forum on LinkedIn. Access our Member Advice Service for support, answers and advice. Visit our Managing the New Credit Future webpage for more resources We continue to develop resources, advice and tools to help you prepare for tomorrow’s Credit, today. Stay in touch with us and be part of our community. CICM is your professional body: use it. We are stronger in numbers. Advancing the credit profession / www.cicm.com / September 2020 / PAGE 50
NEW AND UPGRADED MEMBERS Do you know someone who would benefit from CICM membership? Or have you considered applying to upgrade your membership? See our website www.cicm.com/membership-types for more details, or call us on 01780 722903 Fellow Theodoros Kringou FCICM Carl Lancaster FCICM Doriana Iovino FCICM David Hindle FCICM Member Nicholas Dark MCICM Sean Frisby MCICM Paul Gordon MCICM Richard Grist MCICM Lorraine Passco MCICM Luke Sculthorp MCICM Giuseppe Trunzo MCICM Joanne Cook MCICM Helga Cumberbatch MCICM Steven Ferguson MCICM Matthew Ricketts MCICM Charlotte Soper MCICM Neil Woodcock MCICM Member (by exam) Sean Peter Don MCICM (Grad) Susan Gordon MCICM (Grad) Lisa Linford MCICM(Grad) Michael Anstead ACICM Gemma Imam ACICM Declan Sarjant ACICM Associate Henry Oforishe ACICM Studying Member Alan Ahern Andrew Bass Simon Bromley Paulina Czerska Marco Dellavalle Dale Fawcett Raffeina Feeney Scott Foord Gareth Guyers Neil Johnson Manjula Krishnasamy Alice Meehan Gina Milne Fleur Myatt William Oades Nushina Pillalamarri Zacki Rahman Rhys Scargill Carly Smith Laura Squibb Martin Stafford Ola Stannard Alison Starkey James Sykes Lina Tavares Nina Tedam Diantha Veerasingam Chinedu Aghanenu Emma Bassett Tamara Bedington Temilade Bodede Hannah Bunce Sonja Burghardt Gemma Davies Maria Dinca Faye Harper Joel Isherwood Altaf Karmali Davina Knott Kwasi Koram Arvind Kumar Thomas Mabbott Barry MacDonald Withus Masala Dale McInroy Helen McInroy Lisa McQueen Louise Moss Jordan O'Donovan Waqar Raza Sharon Rumbal Amit Sohal Tom Sparham Ross Spence Claire Thompson Linda Trotter Nicola Wesson Masahiro Yashima Affiliate Thomas Antrobus Michael Barrett Simon Darby Joanne Dempster Peter Hodgson Adam Morgan Isabelle Morley Karen Murray Edyta Olszewska Mohamed Salah Lisa-Marie Clay Maddison Dickens Chelsea Dunbar Kimberley Halligan Vicky Hotson Elisha Houston Bethanie Lowe Jason Marshall Sinead McHale Tracy Mileham Will Pickering Angela Sammon Joanne Sawkins SasikumarThottupurath Congratulations to our current members who have upgraded their membership Upgraded member Ricardo Harewood ACICM WE WANT YOUR BRANCH NEWS! Get in touch with the CICM by emailing branches@cicm.com with your branch news and event reports. Please only send up to 400 words and any images need to be high resolution to be printable, so 1MB plus. Advancing the credit profession / www.cicm.com / September 2020 / PAGE 51
- Page 1 and 2: CREDIT MANAGEMENT CM SEPTEMBER 2020
- Page 3 and 4: SEPTEMBER 2020 www.cicm.com CONTENT
- Page 5 and 6: Advancing the credit profession / w
- Page 7 and 8: NEWS ROUNDUP CICM in new TV venture
- Page 9 and 10: PHILLIPS & Cohen Associates, the le
- Page 12 and 13: presents
- Page 14 and 15: % 0,6 0,5 Pre- crisis Late During p
- Page 16 and 17: Level 4 Apprenticeship Counter Frau
- Page 18 and 19: OPINION START THE REVOLUTION Invoic
- Page 20 and 21: Let us show you why our years of Hi
- Page 22 and 23: LEGAL MATTERS SPARK OUT A landmark
- Page 24 and 25: COUNTRY FOCUS Germany is still the
- Page 26 and 27: COUNTRY FOCUS AUTHOR - Adam Bernste
- Page 28 and 29: would you love an easy way to speed
- Page 30 and 31: INTERNATIONAL TRADE Monthly round-u
- Page 32 and 33: ADVISORY COUNCIL Shaping the future
- Page 34 and 35: NEW FEATURE PANEL BASHERS Understan
- Page 36 and 37: Appointment | Credit Academy Traine
- Page 38 and 39: Advancing the credit profession / w
- Page 40 and 41: INTRODUCING OUR CORPORATE PARTNERS
- Page 42 and 43: INTRODUCING OUR CORPORATE PARTNERS
- Page 44 and 45: INTERVIEW SMALL TALK Satago CEO Sin
- Page 46 and 47: INTERVIEW AUTHOR - Sean Feast FCICM
- Page 48 and 49: PAYMENT TRENDS Recovery Room Some s
- Page 52 and 53: OBITUARY Paul Mudge - a life fully
- Page 54 and 55: Streamline your customer onboarding
- Page 56 and 57: TAKE CONTROL OF YOUR CREDIT CAREER
- Page 58 and 59: www.tcmgroup.com Probably thebest d
- Page 60 and 61: Cr£ditWho? CICM Directory of Servi
- Page 62 and 63: Cr£ditWho? CICM Directory of Servi
- Page 64: Celebrating forty years of deliveri
NEW AND UPGRADED MEMBERS<br />
Do you know someone who would benefit from CI<strong>CM</strong> membership? Or have<br />
you considered applying to upgrade your membership? See our website<br />
www.cicm.com/membership-types for more details, or call us on 01780 722903<br />
Fellow<br />
Theodoros Kringou FCI<strong>CM</strong> Carl Lancaster FCI<strong>CM</strong> Doriana Iovino FCI<strong>CM</strong> David Hindle FCI<strong>CM</strong><br />
Member<br />
Nicholas Dark MCI<strong>CM</strong><br />
Sean Frisby MCI<strong>CM</strong><br />
Paul Gordon MCI<strong>CM</strong><br />
Richard Grist MCI<strong>CM</strong><br />
Lorraine Passco MCI<strong>CM</strong><br />
Luke Sculthorp MCI<strong>CM</strong><br />
Giuseppe Trunzo MCI<strong>CM</strong><br />
Joanne Cook MCI<strong>CM</strong><br />
Helga Cumberbatch MCI<strong>CM</strong><br />
Steven Ferguson MCI<strong>CM</strong><br />
Matthew Ricketts MCI<strong>CM</strong><br />
Charlotte Soper MCI<strong>CM</strong><br />
Neil Woodcock MCI<strong>CM</strong><br />
Member (by exam)<br />
Sean Peter Don MCI<strong>CM</strong> (Grad)<br />
Susan Gordon MCI<strong>CM</strong> (Grad)<br />
Lisa Linford MCI<strong>CM</strong>(Grad)<br />
Michael Anstead ACI<strong>CM</strong><br />
Gemma Imam ACI<strong>CM</strong><br />
Declan Sarjant ACI<strong>CM</strong><br />
Associate<br />
Henry Oforishe ACI<strong>CM</strong><br />
Studying Member<br />
Alan Ahern<br />
Andrew Bass<br />
Simon Bromley<br />
Paulina Czerska<br />
Marco Dellavalle<br />
Dale Fawcett<br />
Raffeina Feeney<br />
Scott Foord<br />
Gareth Guyers<br />
Neil Johnson<br />
Manjula Krishnasamy<br />
Alice Meehan<br />
Gina Milne<br />
Fleur Myatt<br />
William Oades<br />
Nushina Pillalamarri<br />
Zacki Rahman<br />
Rhys Scargill<br />
Carly Smith<br />
Laura Squibb<br />
Martin Stafford<br />
Ola Stannard<br />
Alison Starkey<br />
James Sykes<br />
Lina Tavares<br />
Nina Tedam<br />
Diantha Veerasingam<br />
Chinedu Aghanenu<br />
Emma Bassett<br />
Tamara Bedington<br />
Temilade Bodede<br />
Hannah Bunce<br />
Sonja Burghardt<br />
Gemma Davies<br />
Maria Dinca<br />
Faye Harper<br />
Joel Isherwood<br />
Altaf Karmali<br />
Davina Knott<br />
Kwasi Koram<br />
Arvind Kumar<br />
Thomas Mabbott<br />
Barry MacDonald<br />
Withus Masala<br />
Dale McInroy<br />
Helen McInroy<br />
Lisa McQueen<br />
Louise Moss<br />
Jordan O'Donovan<br />
Waqar Raza<br />
Sharon Rumbal<br />
Amit Sohal<br />
Tom Sparham<br />
Ross Spence<br />
Claire Thompson<br />
Linda Trotter<br />
Nicola Wesson<br />
Masahiro Yashima<br />
Affiliate<br />
Thomas Antrobus<br />
Michael Barrett<br />
Simon Darby<br />
Joanne Dempster<br />
Peter Hodgson<br />
Adam Morgan<br />
Isabelle Morley<br />
Karen Murray<br />
Edyta Olszewska<br />
Mohamed Salah<br />
Lisa-Marie Clay<br />
Maddison Dickens<br />
Chelsea Dunbar<br />
Kimberley Halligan<br />
Vicky Hotson<br />
Elisha Houston<br />
Bethanie Lowe<br />
Jason Marshall<br />
Sinead McHale<br />
Tracy Mileham<br />
Will Pickering<br />
Angela Sammon<br />
Joanne Sawkins<br />
SasikumarThottupurath<br />
Congratulations to our current members who have upgraded their membership<br />
Upgraded member<br />
Ricardo Harewood ACI<strong>CM</strong><br />
WE WANT YOUR BRANCH NEWS!<br />
Get in touch with the CI<strong>CM</strong> by emailing branches@cicm.com<br />
with your branch news and event reports. Please only send up to 400 words<br />
and any images need to be high resolution to be printable, so 1MB plus.<br />
Advancing the credit profession / www.cicm.com / <strong>September</strong> <strong>2020</strong> / PAGE 51
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