The heightened demand for credit management skills
The role of the credit manager has never been more under the spotlight, says Philip King, Director General of the Institute of Credit Management (ICM).
The widely reported difficulties within the US sub-prime mortgage sector that have given rise to the potential ‘credit crunch’, and which have primarily been an ‘inter-bank’ issue, are starting to be felt in the UK economy.
While the full extent of the fallout has yet to materialise, it falls upon bodies such as the Institute of Credit Management (ICM) to help ensure that businesses are properly prepared to deal with cash flow issues.
Maintaining a healthy cash flow
In a climate where finance to support business is becoming less readily available, the professional credit manager’s job in keeping the cash flowing is becoming more critical than ever.
Businesses will be able to compete if they adopt best practice and, fundamentally, this can be achieved by employing people into credit control jobs that have the right credit management skills. This is where ICM members have a clear lead.
ICM member benefits
The ICM is the largest professional credit management organisation in Europe, representing the credit profession across trade, consumer and export credit and related activities such as collections, credit reporting, credit insurance and insolvency.
A centre of expertise for all matters relating to credit management for almost 70 years, the ICM is the only comparable organisation accredited by the Qualifications and Curriculum Authority (QCA) as an awarding body.
As well as the professional training of its members, the ICM also provides practical hands-on support and advice to the wider business community – the recently published ‘Combating the Crunch’ guide has been endorsed by the Business and Enterprise Minister, Shriti Vadera.
For more information about this initiative, visit www.creditmanagement.org.uk.
