Credit Wise – 2015/16 Annual edition – Introduction
2015 was quite a year in the world of credit management. The elevation of our body, the Institute of Credit Management (ICM), to chartered status was a historic event. Now we need to look ahead, ready for the fresh opportunities and challenges that 2016 will bring.
As an ICM branch chair myself, I know the importance of gaining the chartered crown. We now sit alongside our peers with our heads held high. The Institute’s Chief Executive, Philip King, recently noted that we now have a voice. Personally, I believe we have always had a voice, but now it’s just that little bit louder.
In this edition of Credit Wise, we look at three topics that caused quite a stir in 2015 and that are likely to continue doing so in 2016. Firstly, we examine the growing problem of unpaid SME invoices: has the time come for government action? We then turn the spotlight on HMRC’s seemingly ever-increasing powers of collection and consider the implications for credit managers. Last but not least, we look at the increase in IVAs, the factors behind their popularity and the potential impact of rising interest rates.
Amidst all these developments, Moore Stephens’ National Creditor Services continues to thrive. We support over 850 credit teams nationally and cover more creditors’ meetings than ever before. We now have a debt recovery arm that can help with all aspects of debt collection, all the way through to winding up or bankruptcy proceedings. We have also developed a proxy management portal, where you can monitor your cases in real time, as well as a new alert system, Moore Data. We would be happy to give you a demonstration and free access if you feel that the system could add value to your credit control processes.
With 2016 now under way, I hope we continue to be a useful resource in your credit management toolbox. We look forward to working with you all in the coming year.