The Briefcase PackAugust to November, 2015

Presented By:

John Field FICM, CCE, ACPM

Head of Accreditation – AICMQ

AICMQ Accreditation Programme

AICMQ Accreditation ProgrammeQuality Accreditation now in Australia!

AICMQ – What is it?◆ 6 Areas of Credit Management – Criteria

Stated Benefits of AICMQ

The AICMQ Process

Added Value for AICMQ◆ AICMQ Workshop Process

◆ AICMQ ‘The Event’

◆ AICMQ Strategy & Workshop Days

◆ AICMQ Continuous Improvement Scorecards

International Accreditation◆ AICMQ at Industry Awards

CICM ‘Best Practice Network’

Contents

AICMQ - Available in Australia!

‘The Chartered Institute of Credit Management(CICM) sign a historic agreement with theAustralian Institute of Credit Management (AICM)to offer CICMQ under license to AICM Members’◆ AICMQ will be available in

Australia – 2016

◆ AICMQ Accredited organisations

will join the CICM ‘Best Practice

Network’ of 50+ CICMQ

Accredited Companies and be

eligible to join the

CICMQ Members Library

AICM’s Quality 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 AICMQ Accreditation and retains the award for 2 years, when it has to be renewed◆ In the UK, Shell International – 1st CICM Quality Accreditation in October, 2009 and

Renewed in September 2011 & 2013

CICM ‘Best Practice Network’ – 50+ CICMQ Accredited Companies

AICMQ – What is it?

QUALITY ACCREDITED

Stated Benefits of AICMQ

◆ Reduced Internal Audit Activity

◆ Reduced External Audit Activity

◆ Reduced Premiums & 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 Controller’s confidence when dealing with

the Sales Team and other Stakeholders

◆ Significantly improved the awareness of ‘best practice’ Credit

Management across the business

◆ Credit Industry recognition for the business, manager and the team

The AICMQ 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

◆ AICMQ can assist in preparing for the Assessment by

offering Workshops, ‘The Event’, Consulting Day’s,

Checkpoints and Readiness Reviews

◆ If AICMQ ‘readiness’ is confirmed, the full AICMQ

Assessment is booked usually a full day…or more

depending on the complexity and number of locations

of the Applicant Client

◆ AICMQ Assessment completed

◆ Full Assessment Report to Applicant Client

◆ Continuous Improvement Scorecard

provided at Accreditation

◆ Your Company joins the CICM ‘Best Practice Network’ of

Accredited Organisation’sShell International - 1st Quality Accreditation in October 2009.

Renewed in September 2011 & 2013

AICMQ Workshop Process

AICMQ Workshop◆ Launched to assist organisation’s achieve

AICMQ Accreditation

Objectives◆ Engage Credit Management Teams in the process

◆ Ensure Credit Management Teams are involved in

developing ‘Best Practice’

◆ Develop the staff through knowledge sharing

Output◆ Gain access to the CICM ‘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 AICMQ Accreditation and Assessment date set!!

◆ Stakeholder Management Plans and Roadmaps

◆ Cross-functional ‘The Event’ planned to ‘re-launch’ Credit Management

The easiest question you will be asked today is…

AICMQ – ‘The Event’…or the creation of a spectacular failure

‘If you do what you always do…you get what you always got’

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

AICMQ – ‘The Event’…or the creation of a spectacular failure

AICMQ – ‘The Event’…or the creation of a spectacular failure

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 Minions• Ageas Insurance – ‘100 Not Out’

Average Results in 1 month!• Increases Cash by >20%• Decreases DSO by 2 days• Decreases Debt in Dispute 10%

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

Teamworking for Achievement

◆ Set an unachievable target and fail spectacularly!

◆ Part of the AICMQ Workshop Approach

◆ Short Term or Long Term Goals to Business as Usual

◆ Stakeholder Management is key to Cross-Functional Working

AICMQ – ‘The Event’…or the creation of a spectacular failure

AICMQ Continuous Improvement Scorecards

AICMQ Scorecards

An option to maintain Quality post-Accreditation…

Objectives:◆ Continuously improve Credit Management

◆ Provide a measurement framework to track improvements

◆ Provide an independent measurement for staff objectives

Approach:◆ Optional part of the AICMQ Accreditation Programme

◆ Firstly – Provides a score for your organisation against (6)

AICMQ Criteria

◆ Secondly – Provides a score for your organisation against the

‘Best in Class’ Organisation’s

◆Workshop on the anniversary of AICMQ Accreditation

determines progress

Deliverables & Benefits:◆ Scorecard created at Accreditation, then reviewed annually

and at renewal period, every two (2) years

◆ Tangible Measurement of a department v. the AICM’s (6) AICMQ Criteria

◆ Through the CICM ‘Best Practice Network’ providing examples and

linking organisation’s together to assist in improvements

If you operate internationally, ICTF Accreditation may be relevant…

International Accreditation

Objectives:◆ Provide International recognition of ‘Best Practice’ in Credit Management

◆ Improve standards and awareness of excellence in Credit Management

◆ Create a network of International Companies who share ‘Best Practice’

Approach:◆ Assessments performed by Senior Credit Management Professionals

◆Mixture of document reviews, conference calls, site visits and workshops

◆ Recommendations of accreditation in ‘Best Practice’ endorsed by the ICTF

Deliverables:◆ AICM, CICM and ICTF branded reports, awards and certificates

◆ Accreditation renewed every two (2) years

◆ Awards presented at AICM, CICM or ICTF events, where possible

CICM ‘Best Practice Network’

Questions…?

Contact Details

John Field FICM, CCE, ACPM

Head of Accreditation – AICMQ

Australian Institute of Credit Management

Level 1, 619 Pacific Highway,

St Leonards, NSW, 2065

AUSTRALIA

Office: (02) 9906 4563

Mobile: 0412 732 831

Mb Int’l: +61 412 732 831

Email: johnfield.aicmq@aicm.com.au