ICM and BERR team up to "Combat the Crunch"

Credit Management,  May 2008  

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The Institute of Credit Management has recently announced a number of initiatives to coincide with the publication of the Government's Enterprise Strategy, central to which is a best practice credit leaflet and the launch of a new web portal. Credit Management Matters, alongside other credit management tools.

"The much-heralded Enterprise Strategy Paper gave us an opportunity of contributing significantly to the government's debate, and has led to a number of key initiatives that have been championed in the Strategy Paper," says Philip King, Director General of the ICM.

"Specifically, we have worked with our ICM Online Services (icmOS) team to produce a series of best practice tools and advice for credit managers working in smaller businesses, and we are publishing a hard-copy best practice leaflet entitled Combating the Crunch that will be promoted throughout the Business Link network and a wide number of associated business support channels.

"The free advice leaflet, which is available in hardcopy and online formats, has been endorsed by Business and Enterprise Minister Shriti Vadera. Both feature prominent links to the government's Business Link site," he adds.

Speaking live on BBC TV's World Business Reports on 28 March, Philip King explained the reasons behind the launch of these new services and underlined the importance of credit management, commenting "Cash keeps business in business, and without it businesses fail."

The hierarchy of literature starts with the Combating the Crunch leaflet, available both online and in hard copy format, which focuses on the four top tips in credit management. A more detailed 18-page document (icmOS Bite Size) can also be downloaded, adding further depth to the initial four tips. The most complete version, icmOS Lite, includes an online training module with fact sheets, videos and role-plays, and is a slimmed down variant of the full icmOS training product. icmOS Lite and the full version of icmOS are available at £87 + VAT and £365 + VAT respectively.

Concurrent with the development of the new literature and training is the launch of a new web portal, www. creditmanagement.org.uk, promoted under a new subbrand. Credit Management Matters (CMM). The first phase of CMM provides current, relevant information to all professional practitioners in credit management, and it will be continually refreshed and revised. All of the new literature and training can be accessed through the CMM portal, which also includes links to the main ICM website.

As Philip King concludes: "In her introduction to Combating the Crunch, Shriti Vadera says: 'we need to make sure [small businesses] are well prepared for what could be a testing time for the UK and global economy.' She also says that: 'the ICM gives important advice to businesses to help them compete and manage their cash flow.'

"We hope that this new series of initiatives is welcomed by both our Members and non-members alike to help them through the challenging times ahead."

A copy of Combating the Crunch is enclosed with this issue of Credit Management.

Copyright Institute of Credit Management Ltd. May 2008
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