Message from the President

Trevor Goodwin LICM CCE National President

Welcome to the October edition

of the Credit Management magazine which coincides with our premium event of the year, the National Conference. Our most anticipated event of the year has returned as a face-to-face event for the first time since 2019.

This year we are privileged to hold the conference at the Sofitel Hotel, Brisbane which I am sure will be a great experience for us all. During the conference I look forward to speaking to many of you and sharing our credit experiences and stories.

The conference is the single largest education and networking event for professionals in the various sectors within the credit industry. We have an excellent program encompassing both commercial and consumer credit with presentations of the highest quality which will only enhance the Institute’s reputation further amongst credit professionals.

On behalf of my fellow board directors, I thank all delegates who are attending the conference and the service providers who support us with their exhibition booths that help keep us up to date with the latest products and services. I particularly wish to acknowledge Equifax the Premium Sponsor for the 2022 AICM National Conference.

During the conference there will be a number of presentations including the announcements of the winner of the Young Credit Professional Award, which is sponsored jointly by CreditorWatch and ARMA, and the Credit Team of Year sponsored by Equifax. We will present certificates to our new Certified Credit Executives including the Dux award, and an acknowledgment of CCE’s who have recertified. We will also announce the winner of the Student Award of the Year and the Presidents Trophy for the best performing State Division. Congratulations to our finalists and winners of YCP, Credit Team of the Year, CCE Dux and Student of the Year.

For those members who cannot attend I hope to see you at a conference next year or in years to come.

Much has happened since our last in-person conference on the Gold Coast in 2019 and since the AICM Board implemented a 3-year strategy plan which has further advanced the Institute as the key professional body for credit professionals. In the last 12 months we have seen our membership numbers grow strongly to the highest level since 2004 indicating our members support for the Institute, and our ongoing relevance and importance to education, events, award recognition and legislation advocacy for members.

I am proud to say your Board and National office team have worked tirelessly on many initiatives this past year with just a few of the implementations being: l A new website and management system l Introduction of a “Job board” on the

AICM website l Launch of a supplier directory on the

AICM website l Enhancement of the Credit Network forum on the AICM website l Improved induction program for new

Councillors l Review and amendment of the criteria for Fellow membership category

The last of the 2022 WINC events was held in Tasmania, a State we continue to expand our service and membership base. That function completes a fantastic achievement for the WINC events this

“The Institute’s training programs continue to evolve and are providing excellent education to our many members with a variety of options at every price point, including Registered Training Organisation Certificates and Diploma, Seminars, the National Conference, and our Credit Toolboxes and Workshops.”

with close to 800 participants attending nationally and over $24,000 raised for the benefit of Endometriosis Australia and Dress for Success.

The Board continues to set strategies for the future to seek out new opportunities and initiatives, and to implement our key priorities to ensure we continue to grow and maintain our position as thought leaders and point of reference for all credit professionals.

The Board and National Office team are well supported by the Councils in each division which consist of hardworking volunteers who continue to provide excellent education and network events for members and their colleagues. If you are interested in working with our local divisions or a sub-committee, please speak with a councillor in your State who will be happy to chat to you about the role you can play.

Congratulations to Division Presidents who have been elected for the 2022-23 financial year, a number who are in their first year and welcome to new division councillors who joined for the first time being officially appointed at the AGMs. I can’t speak more strongly as to how working in a team assists you with your career and personal development and with networking opportunities. In addition, it is extremely rewarding.

Once the National Conference is over Divisional Councils and the National office team with move onto planning the next prestigious event on our national calendar, the Pinnacle Awards, which will be held in all Divisions during November and December 2022. We encourage you to consider nominating for one of the categories in these prestigious awards.

The Institute’s training programs continue to evolve and are providing excellent education to our many members with a variety of options at every price point, including Registered Training Organisation Certificates and Diploma, Seminars, the National Conference, and our Credit Toolboxes and Workshops.

The Institute will continue to grow into the future to ensure our relevance, position and posterity. But we should not forget our past and I encourage members that may have old AICM photos or items to send them into National office so as we can save them and remember our past.

As usual, I thank all volunteers who are involved in organising our events including the highly successful WINC event, our YCP judges and facilitators, and the presenters at our various education events. Without you we cannot be the successful Institute we are.

In closing I advise the National Conference will be my last official event in the capacity of National President. My maximum 4-year term is completed and after 6 years on the Board and as in terms of the Constitution I will retire. A new National President will be elected to commence in the role after the National Conference. I have enjoyed my time as National President and the changes and progress that has been achieved during those years. I look forward to the new President, board members, Nick and the National Office team continuing to move the Institute forward as a highly credentialled organisation for the credit professions.

Thank you and stay involved in the Institute which is a fabulous professional body and one to be proud of.

– Trevor Goodwin LICM CCE National President

EMPOWERING THE BANKING TEAM WITH PAYMENT ALLOCATION AUTOMATION

CHALLENGES

Manual processes hinder the Banking Team

Laminex has been Australia’s leading supplier of locally made high-quality laminates and decorative surface materials for over 85 years. Receiving between 200 and 700 payments per day, the Banking Team had heavy workloads. The 100% manual processes made for very long workdays, especially at month-end, when payment allocation was the priority task. EFT bulk payments and complex remittance advice processing with hundreds of lines were the catalyst for Laminex to search for a solution that could automate the daily tasks for the Banking Team, with the objective to auto-allocate 70% of eligible payments at 12-month mark and enable remote work.

SOLUTION

Remote work & employee well-being make the case for automation

In 2021, Laminex Australia implemented Esker’s Cash Application solution, immediately benefiting from the AI technology to automate daily remittance advice processing. The team embraced the new cloud-based solution from day one and transitioned from data entry processing to verification and review very quickly. With Esker’s solution taking over an average of 52% of auto-allocation at only six months post-implementation, the time to allocate payments has reduced from 8-10 hours to only 4-6 hours, boosting the team’s well-being by leaving more time for higher value tasks. A further downstream impact is that statements and reporting are now up-to-the-minute accurate, and year-end liabilities on the balance sheets also reflect the most current information.

RESULTS

Cash allocation automation saves hours per day and leaves more time for higher value tasks, less month-end pressure

§ up to 50% reduction in processing time § 95% decrease of unallocated cash at month-end § 74% of auto-allocation objective achieved by 6-month mark

We are at the AICM National Conference – Come visit us at booth #13

Eric Maisonhaute • +61 479 089 668 • eric.maisonhaute@esker.com.au www.esker.com.au

We found the solution extremely easy to use, that’s why the team has adapted so quickly to it.”

Pamela Rochester

Operational Team Leader, Laminex

One significant change since implementing Esker’s solution is that the Banking Team is under much less pressure to complete payment allocations each day. They have more time to focus on their other duties and learn new tasks because Esker is saving us hours every day. They enjoy using Esker and the benefits it has provided.”

Pamela Rochester

Operational Team Leader, Laminex