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Premium Partner
Corporate Partners
The Briefcase PackSeptember to December 2016
Chris Sanders FCICM
Head 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
– Diary Dates for CICMQ Events!
QICM becomes CICMQ the Quality Accreditation from
the Chartered Institute of Credit Management
• The New Logo
• What your customers
will 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 will be available in Australia
2016
• AICMQ Accredited organisations will
join the CICM Best Practice Network
of 50 + CICMQ Accredited Companies
and be able to join the CICMQ
members library
“Intelligent finance solutions developer Rimilia has
enhanced its level of Corporate Partnership with the CICM
by becoming a Supporter of the CICMQ Programme. We
look forward to working with Rimilia to further develop
best 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 CICMQAssessment 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
Some of the
CICMQ Accredited Companies
‘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 the
networking opportunities, all of which have contributed
to Talon having a better Credit team now, than before we
started this process.’
Iain Webb, Revenue Accountant,
Talon OutdoorCICMQ Accredited June 2015
‘It doesn’t get any easier which is what makes CICMQ as
special when you renew it, as when you first achieve it.’
Maxine Spivey, Financial Services Manager
NHS Blood & TransplantCICMQ Accredited November 2013
CICMQ Renewal November 2015
‘We have had the most incredible journey and learned so
much throughout the process. Thank you Sharon Adams
for our assessment and we look forward to seeing Philip at
Amey...what a great profession to be a part of!’
Hayley Rolls, Credit Manager
Amey PlcCICMQ Accredited December 2015
‘The process has been challenging but really enjoyable
and I'd like to thank the members of the CICMQ Best
Practice Network for their continued help and
encouragement.’
Darren Allerdyce Credit Manager
Adler & AllanCICMQ Accredited November 2015
‘We are extremely pleased to have the re-accreditation
which has certainly brought smiles to faces of the team –
their hard work and effort has now been recognised and we
are extremely proud to have the CICMQ award again.’
John Crotty Credit Manager of
Milliken IndustrialCICMQ Accredited October 2013
CICMQ 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
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
© Sanders Consulting Associates Ltd - 2009
CICMQ Organisations
Past 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 Management
o Create a network of International Companies who share ‘Best Practice’
• Approach:o Assessments performed by Senior Credit Management Professionals
o Mixture of document reviews, conference calls and site visits
o Recommendations of accreditation endorsed by the ICTF
• Deliverables:o CICM & ICTF branded reports, awards and certificates
o Accreditation renewed every 2 years
o Awards presented at CICM or ICTF events where possible. Endorsed by:
CICMQ Scorecards
The CICMQ Continuous Improvement Scorecard
• Objectives:o Continuously improve Credit Management
o Provide a measurement framework to track improvements
o Provide an independent measurement for staff objectives
• Approach:o Optional part of the CICMQ Accreditation Programme
o Firstly - Provides a score for your organisation against 6 CICMQ Criteria
o Secondly – Provides a score for your organisation against the ‘best In
Class’ CICMQ Organisations
o Workshop on the anniversary of CICMQ Accreditation determines
progress
• Deliverables & Benefits:o Scorecard created at accreditation, then reviewed annually and at
renewal every 2 years
o Tangible Measurement of a department against the CICM’s 6 CICMQ
Criteria
o 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
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
Diary Datesfor 2016!
The Last CICMQ Event of 2016!
• 8th November 2016
• Talk-Talk, Manchester
Many thanks to our 2016 CICMQ
event hosts CICMQ Accredited:
To get on the mailing list for events email
Premium Partner
Corporate Partners
Chris Sanders FCICM
Head of Accreditation – CICMQ
+44(0)7747 761641
@chrisCICMQ Also on
