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Navigating through the Brexit storm – by Philip King FCICM

13 September 2018

Someone asked me recently how the CICM could be truly representative of its membership when there was such a diversity of views on Brexit, and members would have different standpoints. I’m not prone to disagreeing with people forcefully but, on this occasion, I did.

Firstly, as a professional membership body, it’s not the place of the CICM to take a stance on political issues except, for example, where proposed legislation might adversely affect activities directly undertaken by our members. More importantly, our role is to support credit professionals throughout their careers.

Best practice credit management involves achieving optimum outcomes for the business, regardless of what it has to overcome. Some of the challenges will be internally generated but many will come from the external environment. Currency fluctuations, legislation, changes in demand trends, the availability of finance to customers, interest rate levels, the weather and, of course, Brexit are all examples of what can impact a business. Credit management sits at the heart of organisations, determining who to sell to, and on what terms, ensuring that goods or services are charged for promptly and correctly, and collecting payment so that the business has the cashflow it needs to survive and grow.

In order to play their part in driving the business forward, credit professionals need to be on top of all these factors, and more. That is why the CICM puts so much effort into providing the resources to support them.

CICMQ is an accreditation that recognises best of breed organisations and gives access to the Best Practice Network through which ideas and initiatives can be shared and exploited.

Our Knowledge Hub gives access to over 1,250 resources that can be searched by subject or keyword, learning modules to develop skills, and a tool through which Continuing Professional Development (CPD) can be planned and recorded.

To allow members to learn from each other, and to share their expertise and knowledge, our Mentor Hub brings people together through a variety of channels that support professional growth and development.

The Brexit debate becomes more complex, more divisive, and more surreal by the day. I could join the clamour urging politicians to set aside their differences and focus on achieving the best possible outcome for our country and our business community, but I’m not sure I have their attention! What I do know is that, whatever the ultimate outcome, we have to deal with the current uncertainty, and in future will have to deal with the consequences. Credit professionals will have to be as well-equipped as possible, then and now, and the CICM is determined to continue providing the support they need.

 


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