the briefcase pack · the briefcase pack september to december 2017. chris sandersfcicm. head of...
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Premium Partner
Corporate Partners
The Briefcase PackSeptember to December 2017
Chris Sanders FCICMHead of Accreditation - CICMQ
Contents• CICMQ the New Look for QICM• CICMQ now in Australia!• New CICMQ Supporter!• The CICMQ Process• Some of the CICMQ Companies• The CICM ‘Best Practice Network’• What they said about CICMQ and the benefits!• Added value for CICMQ
– CICMQ Workshop Process– CICMQ at Industry Awards– CICMQ International Accreditation– CICMQ Scorecards– CICM’s Centre of Excellence– CICMQ ‘The Event’– CICMQ Strategy & Workshop Days
QICM becomes CICMQ the Quality Accreditation from the Chartered Institute of Credit Management
• The New Logo
• What your customerswill see on your website,letters and emails!
CICMQ the New Look for QICM
The New Award Design from January 2015
‘Different name, same quality standards from the CICM’
‘The Chartered Institute of Credit Management sign a historic agreement with the Australian Institute of Credit Management to offer CICMQ under license to their
members.’
CICMQ Now Available in Australia!
• AICMQ now available in Australia• AICMQ Accredited organisations will
join the CICM Best Practice Network of 50 + CICMQ Accredited Companies and be able to join the CICMQ members library
CICMQ Now Available in Australia!
“Intelligent finance solutions developer Rimilia hasenhanced its level of Corporate Partnership with the CICMby becoming a Supporter of the CICMQ Programme. Welook forward to working with Rimilia to further developbest practice and continuous improvement in our industry.”
CICMQ Now Available in Australia!
CICMQ - What is it?
• CICM’s Accreditation Process for Credit Management and related functions• Covers 6 Specific Areas:
• Credit Policy• Compliance• Customer Services• Personal & Professional Development• Performance Measurement • Stakeholder Management & Roadmap
• Companies have to demonstrate they meet a minimum standard of ‘Good/Best Practice’ in Credit Management
• If successful a company is awarded CICMQ Accreditation and retains the award for 2 years when it has to be renewed
• More than 50 companies have CICMQ Accreditation with a number at various stages
For details of fees contact [email protected]
The CICMQ Process
• Companies apply and complete a company profile and questionnaire
• A ‘Discovery’ session is booked by the Assessor usually for a half day meeting ...sometimes longer!• Discovery Assessment Report to
Applicant Client• If CICMQ ‘readiness’ is confirmed the full CICMQ
Assessment is booked usually a full day...or more depending on the complexity and number locations of the applicant client
• Assessment completed• Full Assessment Report to Applicant
Client• Your company joins the Best Practice Network of
Accredited Organisations • … & Philip gets his picture taken...AGAIN!
Shell International 1st
Quality Accreditation in October 2009
The Companies of the CICM Best Practice Network
‘The Best Practice Network’ CICMQ Organisations Sharing Best Practice
‘This represents just 2 weeks activity in the Best Practice Network in July 2015 demonstrating that the CICM Best Practice Network is the most active credit management best practice network around!’
What they said….
‘Thanks for your help with the process and providing thenetworking opportunities, all of which have contributedto Talon having a better Credit team now, than before westarted this process.’Iain Webb, Revenue Accountant,Talon OutdoorCICMQ Accredited June 2015
‘It doesn’t get any easier which is what makes CICMQ asspecial when you renew it, as when you first achieve it.’Maxine Spivey, Financial Services ManagerNHS Blood & TransplantCICMQ Accredited November 2013CICMQ Renewal November 2015
‘We have had the most incredible journey and learned somuch throughout the process. Thank you Sharon Adamsfor our assessment and we look forward to seeing Philip atAmey...what a great profession to be a part of!’Hayley Rolls, Credit ManagerAmey PlcCICMQ Accredited December 2015
‘The process has been challenging but really enjoyableand I'd like to thank the members of the CICMQ BestPractice Network for their continued help andencouragement.’Darren Allerdyce Credit ManagerAdler & AllanCICMQ Accredited November 2015
‘We are extremely pleased to have the re-accreditationwhich has certainly brought smiles to faces of the team –their hard work and effort has now been recognised and weare extremely proud to have the CICMQ award again.’John Crotty Credit Manager ofMilliken IndustrialCICMQ Accredited October 2013CICMQ Renewed November 2015
Stated Benefits of CICMQ
• Reduced Internal Audit Activity• Reduced External Audit Activity• Reduced Premiums and improved terms for Credit Insurance• Able to bid for government tenders since accreditation• Obtained new business since trade press articles• Improved debt and cash performance since accreditation• Improved Internal Recruitment from finance• Keeps the department focussed on quality and performance
improving results & customer service• Membership of the most active Credit Management Best Practice
Network for sharing information and knowledge • Improved credit controllers confidence when dealing with sales and
other stakeholders• Significantly improved the awareness of good credit management
across the business • Credit Industry recognition for the business, manager and the team.
Aggregate Industries
Local World
Siemens
© Sanders Consulting Associates Ltd - 2009
CICMQ Workshop• Launched to assist organisations achieve CICMQ Accreditation
Objectives:• Engage credit management teams in the process• Ensure credit teams are involved in developing ‘Best Practice’ • Develop the staff through knowledge sharing
Output:• Gain access to the CICMQ Best Practice Network of Accredited
Companies to assist and share knowledge• Templates and guides provided for the teams• Workshop output fully documented• Action Plan to achieve CICMQ Accreditation and Assessment date
set!!• Stakeholder Management Plans and Roadmaps• Cross functional ‘Event’ planned to ‘re-launch’ Credit Management
The CICMQ Workshop Clients!
CICMQ OrganisationsPast Winners and Finalists British Credit Awards
International Accreditation
International Accreditation• Objectives:
o Provide International recognition of ‘Best Practice’ in Credit Management
o Improve standards and awareness of excellence in Credit Managemento Create a network of International Companies who share ‘Best Practice’
• Approach:o Assessments performed by Senior Credit Management Professionalso Mixture of document reviews, conference calls and site visitso Recommendations of accreditation endorsed by the ICTF
• Deliverables:o CICM & ICTF branded reports, awards and certificateso Accreditation renewed every 2 yearso Awards presented at CICM or ICTF events where possible. Endorsed by:
CICMQ Scorecards
The CICMQ Continuous Improvement Scorecard• Objectives:
o Continuously improve Credit Managemento Provide a measurement framework to track improvementso Provide an independent measurement for staff objectives
• Approach:o Optional part of the CICMQ Accreditation Programmeo Firstly - Provides a score for your organisation against 6 CICMQ Criteriao Secondly – Provides a score for your organisation against the ‘best In
Class’ CICMQ Organisationso Workshop on the anniversary of CICMQ Accreditation determines
progress
• Deliverables & Benefits:o Scorecard created at accreditation, then reviewed annually and at
renewal every 2 yearso Tangible Measurement of a department against the CICM’s 6 CICMQ
Criteriao Through the ‘Best Practice Network’ providing examples and linking
organisations together to assist in improvements.
Centres of ExcellenceNew Requirements
In Short…• You need to have held CICMQ
Accreditation for 2 years• You need to be a CICM
Learning Partner or Corporate Partner
• Involved in the ‘Best Practice Network’
• Hosting CICM or CICMQ Events or training
• Promote Credit Management as a career
www.cicm.com
CICMQ - ‘The Event’…or the creation of a spectacular failure!
The easiest question you will be asked today is…
© Sanders Consulting Associates Ltd - 2009
Contact the CICMQ Consulting Team
at [email protected] to find out how
CICMQ - ‘The Event’…or the creation of a spectacular failure!
Would you like you to increase your department’s cash
collection in one month by 20%?
© Sanders Consulting Associates Ltd - 2009
1. Set aside ‘normal’ credit management and ‘SMART’ objective setting thinking
2. …and set an unachievable target and fail spectacularly!
3. Become the ‘pirates’ in the organisation to create a sense of change and belonging
‘If you do what you always do…you get what you always got’
CICMQ - ‘The Event’…or the creation of a spectacular failure!
© Sanders Consulting Associates Ltd - 2009
One Month – CICMQ ‘Event’Designed to…• Generate Cash• Reduce Debt• Reduce Disputes• Motivate Staff• Kick Start sustainable Improvements • Gain Stakeholder Involvement• Create Cross Company Action• Built Relationships
Other Successful Client Implementations• Cable & Wireless – ‘Dash for Cash’• MCI/Verizon - ‘Golden Number’• Virgin Media – ‘HY300’• Shell International – ‘EU Hunt for Ca$h’• Travis Perkins – ‘March 4 Mi££ions’• OMG Media Group – ‘Fuelling 50’• Ford Retail – ‘Fab 50’• Local World – ‘Catch 22’• Royal Mail – ‘Debt Busters’• Virgin Media – ‘£100 Minnions• Ageas Insurance – ‘100 Not Out’• EDF Energy – ‘Jingle all the Pay’
Average Results in 1 month!• Increases Cash by >20%• Decreases DSO by 2 days• Decreases Debt in Dispute 10%
CICMQ - ‘The Event’…or the creation of a spectacular failure!
© Sanders Consulting Associates Ltd - 2009
CICMQ - ‘The Event’…or the creation of a spectacular failure!
Teamworking for Achievement • Set an unachievable target & fail spectacularly!
• Part of the ‘CICMQ Workshop Approach’
• Short Term or Long Term Goals to Business as Usual
• Stakeholder Management is key to Cross Functional Working
© Sanders Consulting Associates Ltd - 2009
CICMQ - ‘The Event’…or the creation of a spectacular failure!
999 Debtbusters23% more cash in 6 weeks • 19% more cash in 1 month than average
• 90 day debt down £5m
‘100 Not Out’56% more cash in 1 month
‘March for Millions’21% more cash in 1 month
‘Jingle All The Pay’• 32% more cash in 7 weeks• 38% overdue debt reduction
© Sanders Consulting Associates Ltd - 2009
The CICMQ Strategy Day
The Strategy Day!
© Sanders Consulting Associates Ltd - 2009
The CICMQ Strategy Day
The Strategy Day!
© Sanders Consulting Associates Ltd - 2009
The CICMQ Workshop Day
The WorkShop Day!• Designed to provide attendees with a wider understanding
of CICMQ Accreditation • Provides the delegates with a framework to drive CICMQ
within their companies• Share experiences and knowledge with other delegates from
other organisations creating a support network of companies working towards CICMQ
• Delegates organisations become part of the ‘Best Practice Network’ organisations committed to ‘Improve standards in Credit Management’ through sharing of best practice knowledge and experience
• Generates a plan of action with owners and timings for CICMQ Accreditation.
© Sanders Consulting Associates Ltd - 2009
Thank you
CICM Credit Community CICM_HQ CreditManagement
Premium Partner
Corporate Partners
Chris Sanders FCICMHead of Accreditation – [email protected]+44(0)7747 761641
@chrisCICMQ Also on