Credit Management Australia May 2024 Edition

UNDERSTANDING THE INTRICACIES OF CROSS BORDER CREDIT PRACTICES

ALSO IN THIS EDITION:

l Unfair Contract Laws apply to overseas contracts.

l Offshoring Risks: Operational Challenges, Data Security Concerns, Financial Volatility, and Potential Damage to Reputation.

l Update from across the ditch.

Our 2024 supporters

National partners

Divisional partners

Divisional supporting sponsors

Monika

Daniel Taylor MICM

Adrian Floate MICM

Paul Burgess MICM

Monika Lacey MICM

Anneke Thompson MICM

Fiona Reynolds MICM

Claire LaBouchardiere

Eric Maisonhaute MICM

DIRECTORS

Julie McNamara MICM CCE – Australian President

Lou Caldararo LICM CCE – Victoria/Tasmania & Australian VP

Troy Mulder FICM CCE – Western Australia/Northern Territory

Rob Jackson MICM CCE – South Australia

Theresa Brown MICM CCE – New South Wales

Steven Staatz MICM CCE – Queensland

Daniel Taylor MICM – Co-opted Director

CHIEF EXECUTIVE OFFICER

Nick Pilavidis FICM CCE

Level 3, Suite 303, 1-9 Chandos Street, St Leonards NSW 2065

PO Box 64, St Leonards NSW 1590

Tel: (02) 8317 5085, Fax: (02) 9906 5686

Email: nick@aicm.com.au

PUBLISHER

Nick Pilavidis FICM CCE | Email: nick@aicm.com.au

CONTRIBUTING EDITORS

NSW – Gary Poslinsky MICM

Qld – Emma Purcival MICM CCE

SA – Clare Venema MICM CCE, Maria Scacchitti MICM

WA/NT – Jeremy Coote MICM CCE

Vic/Tas – Alex Hawtin MICM

EDITOR/ADVERTISING

Claire Kasses, General Manager

Tel Direct: 02 9174 5727 or Mob: 0499 975 303

Email: claire@aicm.com.au

EDITING and PRODUCTION

Anthea Vandertouw | Ferncliff Productions Tel: 0408 290 440 | Email: ferncliff1@bigpond.com

THE EDITOR reserves the right to alter or omit any article or advertisement submitted and requires idemnity from the advertisers and contributors against damages or liabilities that may arise from material published. CREDIT MANAGEMENT IN AUSTRALIA is published by the Australian Institute of Credit Management, Level 3, Suite 303, 1-9 Chandos Street, St Leonards NSW 2065. The views expressed in CREDIT MANAGEMENT IN AUSTRALIA are not necessarily those of Australian Institute of Credit Management, which does not expect or invite any person to act or rely on any statement, opinion or advice contained herein (whether in the form of an advertisement or editorial) and neither the Institute or any of its employees, agents or contributors shall be liable for any opinion contained herein. © The Australian Institute of Credit Management, 2024.

SA: Susan Stone from Credit Union SA presenting the Economic Update.

Vic/Tas: An afternoon of

the women in credit.

Qld: Trivia Night Winning Team: Trivi-a-Jility

NSW: Risk Seminar: Miral Sarvaiya MICM, Anthony Stevanja MICM and Stefanie Ross MICM CCE.

WA/NT: Golf Day Winning Team: NCI Group (LtoR) Geoff Geary, Cheri Bowater MICM CCE, Dan Czaplinski MICM and Beau McCarthy.

from the president

Welcome to the May 2024 Edition of the AICM Credit Management in Australia!

I trust this message finds you in good spirits as we continue our journey in the dynamic field of credit management. It is with great pleasure that I share some noteworthy updates and achievements from our association.

Our commitment to knowledgesharing remains unwavering. Recently, we achieved a significant milestone with the ATO Disclosure of Tax Debts webinar, which garnered an impressive 532 registrations. This record-breaking attendance underscores the growing interest in our educational offerings. We’re also excited to announce the launch of a Special Interest Group focused on e-Invoicing, developed in partnership with the ATO. This initiative will pave the way for more specialised interest groups in the future.

In April, we published the muchanticipated 2024 Risk Report. This comprehensive document provides

Julie McNamara MICM

CCE

National President

valuable insights and analysis for credit professionals. I encourage each of you to delve into its pages and stay informed. A reminder that our magazine and reports can be accessed via your member portal at any time.

Our WINC luncheons continue to thrive. Victoria matched its attendance record, New South Wales sold out, South Australia increased participation by 20% and Queensland is at capacity with 260 enthusiastic participants for their luncheon in August. Additionally, Western Australia, and Tasmania are making commendable progress.

Our inaugural Credit Week received an overwhelmingly positive response, with over 200 registrations. The spirit of collaboration and learning was palpable, and I commend all those who participated.

Applications for the Young Credit Professional (YCP) and Credit Professional (CP) awards are pouring in. Remember that the submission deadline is June 3rd. We are looking forward to celebrating the talent of

“With the support of Equifax, the AICM is providing the opportunity for credit teams to be recognised for the outstanding work, results, culture and learning they undertake. Applications for the Credit Team of the Year Award are now open so don’t hesitate to apply!”

from the president

“

We are delighted to announce that registrations for the largest and most prestigious gathering of the Australian credit community is now open! This year’s AICM National Conference destination is Melbourne and will bring together credit professionals from all sectors in this fantastic, cultural, ”

With the support of Equifax, the AICM is providing the opportunity for credit teams to be recognised for the outstanding work, results, culture and learning they undertake. Applications for the Credit Team of the Year Award are now open so don’t hesitate to apply!

Our annual membership survey is currently underway and closes soon. We remain committed to gathering your valuable feedback. Remember that for every completed survey, we will donate $5 to the Education Foundation.

We are delighted to announce that registrations for the largest and most prestigious gathering of the Australian credit community is now open! This year’s AICM National Conference destination is Melbourne

fantastic, cultural, and vibrant city. We are working on a program of experts and innovators to ensure that your organisation stays ahead of the curve and is ready to face the future challenges of the profession.

Finally, last but not least, I am delighted to introduce Daniel Taylor, our newly appointed co-opted director. Daniel brings a wealth of expertise in consumer credit, debt collection, legal matters, and board governance. Connect with him on LinkedIn to learn more about his background.

Thank you for your continued support and active engagement. Together, we shape the future of credit management.

Warm regards,

Julie McNamara MICM CCE National President

Maximising the return on investment of your training budget

Education and further training are an extremely important part of employees’ development, especially if there is a particular skill gap that individuals within an organisation could undertake training on. If you have a certain time of the year where you schedule in training, you may be looking at what sorts of training would be most beneficial.

Current trends

The report, Ready Set Upskill: Maximising the ROI of skills and training prepared by Deloitte Access Economics for RMIT online, explains that Australian businesses are expecting to spend approximately $8 billion on learning and development in 2024. The expected spend on learning and development per employee reflects an increase of approximately 15% yearon-year.

This spending comes at a time when businesses face an uncertain economic outlook in 2024. While one-third (35%) of surveyed employers are pessimistic about the broader economic outlook, 30% are optimistic.

Despite training spend rising overall, one in eight Australian surveyed businesses are planning on spending less on learning and development in 2024 compared to last year. Modelling for this report finds that the

fall in learning and development investment will mean missing out on skills valued at approximately $2 billion in 2024

In an era of uncertainty, there is a strategic opportunity for businesses to make a robust assessment of their workforce skill needs, and tune-up their learning and development plan so employees have the skills they need for success.

Identify the skills

Now is the perfect time to sit down and really think about the skills your employees need to have. This may be very different for each member of your team, depending on what their job role entails. People who work behind the scenes will certainly have a different skills-set requirement to those who are customer facing. It is very important to consider individuals specific needs, based on their role within the organisation.

Make sure that you draw up a skills list that you expect individuals to have. You may want to sit down with their direct line manager to make sure that you are gathering an accurate representation of the type of training they may need.

This should also help your employees recognise that they are valued and that you are keen to train them on the things that will make their lives easier, and improve their workday, and that you are not just providing training for the sake of it. For the best results, make sure your repeat this type of exercise regularly, so if you do identify any skill gaps, you can address them before they become a critical issue.

People feel empowered through learning

Most employees like to feel a sense of pride in their work, do their jobs well, and advance within the company. Without training, it’s harder for employees to do this, which may lead to them feeling undervalued and unable to

achieve their goals. This could result in a higher employee turnover! Investment in your staff and team can lead to better team culture across an organisation.

What it means for you or your team?

It is important to start thinking about what skills will be required in the future within your role and within the credit industry. As part of the

research process, it is worth collecting as much information on current and emerging roles via industry and government reports, social media platforms such as LinkedIn, thought leader periodicals, job search sites such as Seek or via education and professional associations such as AICM to gain an understanding of what your future and future training requirements may look like.

AICM recent graduates

AICM would like to congratulate its recent graduates:

FNS30420 – Certificate III in Mercantile Agents

Renee Appleby NSW CCSG

Greg Simmons VIC Link Refunds

Kostantinos Platirahos NSW AMP

FNS40122 – Certificate IV in Credit Management

Rohan O’Brien NSW Commonwealth Steel Company

Blanche Venter WA IPSTAR AUSTRALIA

Katherine McLean QLD Stoddarts Group

Jackalene Bayada NSW Baiada Poultry

Sarah Butters SA Thomas Foods International Australia

Classroom training calendar

23

Offshoring risks: Operational challenges, data security concerns, financial volatility, and potential damage to reputation

By Daniel Taylor MICM*

In an era of increasing global connectivity, offshoring has emerged as a compelling strategy for many businesses seeking cost advantages, access to a broader talent pool, and expanded operational capabilities. However, this practice is not without significant risks, particularly for sectors like credit management where precision and reliability are paramount.

Understanding and mitigating the risks associated with offshoring – operational challenges, data security concerns, financial volatility, and potential damage to reputation is crucial for maintaining the integrity and competitiveness of businesses in today’s market.

Operational Challenges

The first set of risks involves operational hurdles. Time zone differences, language barriers, and cultural mismatches can significantly disrupt communication and workflow, essential aspects of credit management operations. For Australian companies there are a raft of locations for offshoring, These extend from lesser used regions such as Eastern Europe, South Africa, South America to more traditional locations such as the India, South East Asia and Fiji. Each location have their own unique set of issues which can complicate daily operations and strain resource management. Miscommunications can delay project delivery and introduce

“... operational challenges, data security concerns, financial volatility, and potential damage to reputation is crucial for maintaining the integrity and competitiveness of businesses in today’s market.”

Daniel Taylor MICM

“Time zone differences, language barriers, and cultural mismatches can significantly disrupt communication and workflow, essential aspects of credit management operations.”

errors, compromising service quality and efficiency.

Additionally, offshoring can lead to a reduced control over business functions, with companies often relying heavily on their offshore partners. This dependence can be risky if the offshore provider fails to meet the required standards or encounters its own operational difficulties. To counteract this, it is essential for companies to develop strong oversight mechanisms,

including regular performance reviews and stringent quality control processes, to ensure that offshoring does not dilute their operational standards or challenge client and other stakeholder relations.

Data Security Concerns

Perhaps the most alarming of offshoring risks is the threat to data security. Transferring sensitive financial information across borders increases the risk of data breaches, which

can have devastating legal and financial consequences. Different countries have varying standards for data protection, and noncompliance with these can expose businesses to regulatory penalties and severe reputational damage.

Businesses must therefore ensure that their offshore centres comply with stringent data protection laws, such as the General Data Protection Regulation (GDPR) in Europe or the Australian Privacy Principles (APPs). Implementing advanced security protocols, conducting regular security audits, and ensuring contractual obligations include strict data security clauses are all vital steps in safeguarding sensitive information. The adoption of ISO27001 or SOC2 Audits

International Credit Management

are becoming the norm for many offshore providers. This provides a good framework for organisations to work with to ensure data security needs are met.

Financial Volatility

The financial implications of offshoring are influenced by several factors, including currency exchange rates and economic conditions in the offshore location. Currency fluctuations can unpredictably affect operational costs and reduce the anticipated savings from offshoring. Economic instability, such as that caused by political unrest or rapid policy changes in foreign countries, can also impose additional costs and disrupt business operations.

To manage these risks, companies can engage in financial hedging to

protect against currency risk. Additionally, maintaining a diversified portfolio of offshoring locations and continually assessing the economic stability of these regions can help mitigate potential financial disruptions.

Potential Damage to Reputation

Offshoring can also negatively impact a company’s reputation, especially if it results in significant domestic job losses or if the offshore operations fail to meet quality and ethical standards. Public perception is an important aspect of a company’s success, ensuring that all stakeholders to your business are represented.

To minimise reputational risks, companies should engage in transparent and proactive communication with all

“The financial implications of offshoring are influenced by several factors, including currency exchange rates and economic conditions in the offshore location.”

stakeholders, explaining the reasons for offshoring and its benefits not only to the company but also to customers and other stakeholders. Ensuring that offshore operations align with the company’s ethical standards and committing to corporate social responsibility can also help mitigate negative perceptions and foster long-term loyalty among customers.

Consideration should also be made to Modern Slavery Standards and adherence to these standards.

Offshoring, while offering numerous benefits such as cost savings and access to specialised talent, comes with a complex array of risks that can undermine its advantages if not thought out and mitigated correctly.

Operational difficulties, data security vulnerabilities, financial uncertainties, and potential reputational harm are critical considerations that businesses must address.

By implementing robust risk management strategies and maintaining high standards of operational conduct and security, companies can navigate the challenges of offshoring and harness its full potential without compromising their core values or operational integrity.

Through careful planning and management, offshoring can be an extremely valuable strategic tool rather than a business liability.

*Daniel Taylor MICM CEO CCSG

E: DanielTaylor@ccsgroup.com.au www.ccsgroup.com.au

2024 NATIONAL CONFERENCE

16 - 18 OCTOBER 2024

AICM's National Conference is where credit professionals meet to connect, update and further their understanding of best practices in credit management. The annual conference has been held for over 20 years and is Australia's largest gathering of credit and finance professionals.

Update from across the ditch: An uncertain future drives credit trends in New Zealand

By Monika Lacey MICM*

The combination of skyrocketing inflation –leading to an ongoing costof-living crunch – and the unpredictability surrounding the 2023 election year sparked widespread financial trepidation throughout New Zealand.

Despite the government’s best intentions, this climate of economic unease has persisted into the first half of 2024 as well.

The Reserve Bank of New Zealand rose the Official Cash Rate (OCR) to 5.5% in May 2023, where it has remained for the last year, contributing to higher borrowing costs for consumers and businesses alike.

At the same time, reforms to the Credit Contracts and Consumer Finance Act (CCCFA) were recently announced by Finance Minister Andrew Bayley, aimed at reversing the restrictions introduced by the previous government that had

tightened lending criteria for consumers.

It will be interesting to see how this impacts Kiwi credit behaviour. We know loan conversions fell following the introduction of the new CCCFA rules in December 2021 – hitting credit cards especially – before beginning to balance out as both lenders and consumers became more familiar with the regulations.

Despite higher interest rates, consumer credit demand was up 3.5% year-on-year in April, driven by Buy Now Pay Later, retail energy, and credit cards.

Mortgage lending also showed signs of growth, tracking 6% higher year-on-year in Q1 2024, potentially signalling a rebound in the real estate market as the CCCFA reforms ease lending standards.

However, the cost-ofliving crisis continued to strain household finances, with overall

“Despite the government’s best intentions, this climate of economic unease has persisted into the first half of 2024 as well.”

Monika Lacey MICM

Consumer Arrears Trends

463,000 (up 6,000 month-onmonth) as the cost-of-living crisis continues to squeeze.

However, it’s important to remember that by far the majority of these have only missed one payment and are likely to self-correct.

consumer arrears climbing to 12.70% of the active credit population in March 2024, a 7.4% increase from the previous year.

Despite this, mortgage, BNPL, personal loan, and energy arrears saw modest declines in March, although auto loan arrears continued to grow.

As New Zealand prepares for the government’s upcoming budget announcement, persistent uncertainty around

bank interest rates and a general sense that the Reserve Bank will hold the OCR at 5.5% continues to lend an air of ambiguity for Kiwi households and businesses alike.

Balancing act for arrears

Arrears remain a key story for Kiwi households well into 2024. the number of Kiwi consumers behind on their credit payments increased in March, climbing to

This equals 12.70% of the credit active population (up from 12.45% in Feb 2024). The current arrears level is 7.4% higher yearon-year, tracking just above 2018 levels after coming off historic lows.

Looking at the varying arrears levels, 177,000 consumers are currently 30+ days past due, of which 120,000 are at 60+ days in arrears equating to 12.70% of the credit active population.

The number of people with non-performing loans (90+ days behind on their payments) has increased to 94,000 during March, representing 2.60% of the active credit population. 

International Credit Management

Residential mortgages reported in arrears have improved slightly to 1.48% in March (down from 1.51% in February), with 22,100 mortgage accounts reported past due up 13% year-on-year.

Furthermore, vehicle loan arrears rose sharply to 6.5% in March, compared to 4.9% for March last year. Credit card arrears also increase slightly to 4.8% but remain low compared to historical levels.

Both Buy Now, Pay Later and personal loan arrears improved slightly in March, dipping to 9.1% and 9.6% respectively. However, the number of telco/ communications accounts in arrears remains above 10%.

It’s also encouraging to see the number of households behind on retail energy repayments down in March

Arrears

Highest Arrears Areas

Home Loan Arrears

Credit Card & Auto Loan Arrears

(4.4%), which could signal households are coping as the weather begins to cool.

Credit demand and lending trends

Overall credit demand has been a mixed bag, with discretionary lending up across the board alongside retail energy spending.

Consumer demand for auto finance during Q1 2024 was 17.8% lower than compared to the same period last year. Mortgage demand was also down 1.5% year-on-year. However, demand for Buy Now Pay later product was up 21.4%, followed by retail energy (+14.7%), credit cards (+6.9%) and personal loans (+2.5%).

Despite a downturn in demand, actual residential lending was up 6% across the quarter when compared to Q1 2023. This could be an early signal of a return to form in the property market, with rising stock levels potentially contributing to higher sales volumes.

Personal Loan & BNPL Arrears

Telco & Utility Arrears

Credit Demand by Product Type

Year on year comparison of 3 month rolling averages

“Overall new household lending is 5% higher on a year-on-year basis, spurred by increased mortgage lending activity.”

On the flipside, non-mortgage new lending (credit cards, vehicle/personal loans, BNPL and overdrafts) is down 3% year-on-year, reflecting lower volumes of new vehicle loans compared to last year.

Overall new household lending is 5% higher on a year-on-year basis, spurred by increased mortgage lending activity.

Business defaults and liquidation trends

The tough economic climate continues to impact Kiwi businesses across the country. Defaults have climbed across the quarter and in March 2024, defaults rose across all sectors except for hospitality.

Furthermore, liquidations have risen across the board, with retail trade (+57%), transport (+43%) and the property/rental sectors (+20%) hit the hardest.

There were over 230 companies placed into liquidation during March 2024, the highest monthly total recorded since March 2015.

One in four companies liquidated during Q1 2024 were from the construction sector. High interest rates coupled with weak demand has impacted the pipeline of work, with 500 going into liquidation over the year to 31 March 2024.

New Consumer Lending (Indexed to 2019)

Looking ahead

All eyes are on the upcoming government Budget announcement to see where relief for Kiwi households and businesses will be.

The government campaigned on a platform of tax cuts to help ease the cost of living, with many people

anticipating this to help with their current situation. For households and businesses alike feeling the financial squeeze, it’s important to seek professional financial advice to better understand how best to navigate the coming months.

There are options available to help people get through without

compromising their future financial health and suffering in the long-term from the current economic climate.

*Monika Lacey MICM Chief Operating Officer Centrix Credit Bureau of New Zealand www.centrix.co.nz

Note: The above table shows change on a year-on-year basis

Company Liquidations

Unfair Contract Laws apply to overseas contracts

By Fiona Reynolds MICM*

Introduction

The new unfair contract laws started on 9 November 2023. Businesses have invested heavily in ensuring that their standard contract forms comply with the new laws. The success of that investment will largely turn on how the Courts will interpret and apply these new laws.

In a recent decision of Karpik v Carnival plc [2023] HCA 39, the High Court considered the application of unfair contract laws to a contract entered into with a Canadian resident for an Australian cruise.

Brief Facts

Ms Karpik was one of 2,600 passengers on the ill-fated ‘Ruby Princess’ cruise. In March 2020, the cruise was cut short because a number of its passengers had contracted COVID-19. Some passengers even died.

Ms Karpik was the lead plaintiff in class action proceedings in the Federal Court

of Australia against Carnival plc and its subsidiary, Princess Cruise Lines Limited (Princess) and (Class Action). The Class Action asserted claims against Princess in tort and under the Australian Consumer Law (ACL) for loss and damage allegedly suffered by passengers of the ‘Ruby Princess’

Mr Ho, a Canadian resident was a member of the Class Action group.

Princess sought a stay of Mr Ho’s claims against it in the Class Action proceeding on the grounds that his contract incorporated US Terms and Conditions that included an exclusive jurisdiction clause in favour of a US Court and a class action waiver clause.

Ms Karpik argued that s23 of the ACL applied to Mr Ho’s contract and that the class action waiver clause in his contract was void because it was unfair under s23 of the ACL.

s23 of the ACL provides that “a

“Businesses have invested heavily in ensuring that their standard contract forms comply with the new laws.”

Fiona Reynolds MICM

“In a recent decision of Karpik v Carnival plc [2023] HCA 39, the High Court considered the application of unfair contract laws to a contract entered into with a Canadian resident for an Australian cruise.”

term if a consumer contract…. is void: (a) the term is unfair, and (b) the contract is a standard form contract”.

Princess’ application failed at first instance. The judge did not agree that the US Terms and Conditions were incorporated into Mr Ho’s cruise contract and said that even if they were, he was satisfied that the ACL applied Mr Ho’s contract and the class action waiver clause was void as an unfair term.

On appeal, the Full Court of

the Federal Court unanimously held that the US Terms and Conditions did apply to Mr Ho’s contract and that the class action waiver clause was not unfair. The Full Court did not consider whether s23 of the ACL could apply to contracts entered into outside of Australia.

Ms Karpik appealed to the High Court of Australia.

The key issue for the High Court to determine was whether the ACL can apply to a contract made outside of Australia?

Judgment

The High Court held that the ACL does extend to consumer and small business contracts entered into outside Australia by Australian and foreign corporations that carry on business in Australia.

The High Court determined that Mr Ho’s contract was made outside of Australia and was performed in Australia. The entry into the contract outside of Australia triggered the operation of ss 5(1)(c) and (g) of the Competition and Consumer

International Credit Management

“Transparency is a key cornerstone of the unfair contract laws. If, like Princess, your business has critical exclusion clauses buried in paperwork that is not straightforward to access, your contracts and onboarding processes require immediate and urgent review.”

Act 2010 (Cth) (CC Act) to extend the operation of 23 of the ACL to Mr Ho’s contract.

Princess raised two arguments to defeat the application of the CC Act.

Firstly, it argued that the exclusive jurisdiction clause in Mr Ho’s contract precluded the application of s23 of the ACL. The High Court rejected this argument and said that this construction was contrary to the objective of Pt 2-3 of Ch 2 of the ACL and would have the consequence that parties could contract out the ACL by including a foreign jurisdiction clause in a contract.

Secondly, it argued that there should be a territorial and temporal limitation applied to the application of the CC Act to contracts entered into overseas. It submitted that the CC Act should only apply to contracts entered into “while” the foreign company is engaged in business in Australia and that s23 should only apply to a term of a contract that affects or relates to goods or services acquired by a consumer in Australia. In other words, Princess argued that as Mr Ho’s contract was entered into and his cruise rights and entitlements were acquired in Canada, the CC Act should not apply. The High Court rejected this argument as

being contrary to the plain words of the legislation and said that interpreting the legislation in that way would require reading into provisions of the CC Act words that were not there.

There was no dispute between Princess and Ms Karpik that the US Terms and Conditions applied to Mr Ho’s contract. The next question for the High Court to determine was whether the class action waiver clause was unfair. In so doing, the Court considered the following:

1. Whether the class action waiver clause would cause a significant imbalance in the parties’ rights under the contract.

2. Whether the term was reasonably necessary to protect the legitimate interests of the party who would be disadvantaged by the term.

3. Whether, if applied or relied upon, the clause would cause detriment to Mr Ho.

The High Court concluded that the class action waiver clause term was unfair because the term was not presented clearly or readily available to Mr Ho. The evidence was that the class action waiver clause appeared in a contract that was only able to be accessed after Mr Ho had received

the booking confirmation email, clicked on a link to access a separate webpage that contained three different contracts, he then had to sign into a separate webpage to determine which of the three contracts applied to him.

The High Court ordered that Ms Karpik’s appeal should be allowed and that Mr Ho’s claims against Princess should not be stayed.

Implications

This decision demonstrates that the Court will construe the provisions of the CC Act in favour of protecting consumers in order to further the objectives of the CC Act. If your business enters into standard form contracts with consumers and small businesses that reside overseas the unfair contract laws will apply to those contracts.

Transparency is a key cornerstone of the unfair contract laws. If, like Princess, your business has critical exclusion clauses buried in paperwork that is not straightforward to access, your contracts and onboarding processes require immediate and urgent review.

*Fiona Reynolds MICM Partner

T: 07 3212 6731

E: Fiona.Reynolds@turkslegal.com.au

If you aspire to achieve greater heights in your credit career or want to get the best from your credit staff, then a qualification course can help you achieve your targets. Offered nation wide, you can study in your own time (24/7), with support available. If you have industry experience or prior education, you may be eligible for Recognition of Prior Learning (RPL) credits to fast-track your qualification. If you’re an employer, you may qualify for a training grant. Talk to AICM today to discover your course options.

Budget threads the needle between cost of living relief and managing inflation

Some positive measures for businesses, but rate cuts badly needed to drive consumer demand and properly kickstart recovery

By Anneke Thompson MICM*

For all the measures announced in the May Federal Budget, the average Australian is likely to focus on one – the $300 energy bill rebate for each household. In conjunction with a boost to rent assistance, these are the key pillars of the Government’s attempts to help with ‘cost of living’ pressures. The Treasurer is attempting to ‘thread the needle’ here –helping Australians with their bills while not making the shorter-term fight against inflation harder.

Of course, we won’t know if the Treasurer will be successful in this until early 2025, tellingly just before the Federal election which needs to be held by May. However, even if these measures do help to bring inflation down to within striking distance of the 2-3 per cent target band by the

end of 2024, the Reserve Bank of Australia (RBA) is unlikely to view this as enough to start cutting the cash rate. The RBA will look through these short-term impacts, much like they do with volatile items like fuel and fruit and vegetables.

CreditorWatch’s latest B2B Trade Payment Defaults data is at record highs, and has been elevated for three straight months, after being on a slow rising trend over 2023. The budget includes $325 energy bill relief for businesses on smaller electricity plans, as well as extending the $20,000 instant asset write off scheme. These are small measures that will help businesses. But what businesses really need, especially the struggling food and beverage and construction sectors, is more confident consumers, as

Anneke Thompson MICM

well home borrowers who can afford to engage builders to build houses.

Unfortunately, this is unlikely to occur until the RBA begins to reduce the cash rate. Energy relief payments in the pockets of consumers, even in conjunction with already locked in tax cuts from July 2024, are unlikely to convince shoppers to go out and spend again. Inflation is still too far out of the target band, and the last thing the RBA wants is for goods inflation to take off again.

The RBA will be watching services inflation closely, particularly in health and education, and the budget does little to ease pressures here. There are some savings in the NDIS, but these are offset by forecast additional spending in other areas. It will be a non-

“Energy relief payments in the pockets of consumers, even in conjunction with already locked in tax cuts from July 2024, are unlikely to convince shoppers to go out and spend again.”

budget measure – reigning in population growth – that will have the biggest impact here. And the good news is, the forecasts for population are showing much lower growth over the next few years.

The Federal Government has a great deal of control here, and has already made it clear that it is reducing student visa numbers dramatically. For mine, this is where the inflation fight will be won or lost, and it appears that we are finally now on the right path.

*Anneke Thompson MICM

Chief Economist CreditorWatch

www.creditorwatch.com.au

ABOUT CREDITORWATCH

Established in 2010, CreditorWatch is Australia’s leading commercial credit reporting bureau with more than 55,000 customers, from sole traders through to ASX-listed companies.

Our suite of automated AI-driven tools provide businesses with end-to-end credit management solutions – from customer onboarding to credit reports, monitoring and collections.

We help businesses strengthen due diligence, mitigate risks and secure their cash flow. We also provide exclusive credit risk insights, helping our customers make smarter decisions to protect themselves in this complex economy.

Find out more at www.creditorwatch.com.au.

Subscribe to the Creditorwatch Business Risk Index to be the first to receive our monthly updates.

ASIC action to disqualify company directors

By Claire LaBouchardiere*

Claire LaBouchardiere

ASIC is aware that director misconduct most often impacts on small businesses who are trying to do the right thing.

Disqualifying directors from managing corporations for up to five years is a key part of ASIC’s regulatory toolkit to deter director misconduct and protect small business. It provides a timely and efficient enforcement outcome when compared to similar criminal and civil remedies.

Other enforcement action available for director misconduct includes civil penalty proceedings, and referrals of briefs of evidence to the Commonwealth Director of Public Prosecutions (CDPP) recommending criminal charges. In some cases, ASIC may employ a combination of these actions, for example, both disqualifying a director and referring a brief to the CDPP.

Taking disqualification action seeks to protect those parties impacted by director mismanagement, prevent losses and unfair competitive advantage (for example, if the liquidated company is not paying tax) and minimises subsequent contagion failures of impacted creditors.

ASIC’s power to disqualify directors lies in section s206F of the Corporations Act. The provision exists to protect the public and other companies from the conduct of a person who has demonstrated an inability to manage corporations and, in some instances, has engaged in illegal phoenixing activity.

Disqualification orders are made by ASIC Hearing Delegates who sit within ASIC’s Legal Services Team but are independent of the investigation team. The delegate receives a brief of evidence from the investigation team which contains information to support a recommendation that the director is disqualified from managing corporations as a result of corporate mismanagement. The brief referred to the ASIC Hearing Delegate will include information about the funds owed to creditors, the type and age of suspected misconduct and any relevant antecedents about the director. A lot of the information in the brief comes from reports lodged with ASIC by liquidators. To disqualify a director, the

“ASIC’s power to disqualify directors lies in section s206F of the Corporations Act. The provision exists to protect the public and other companies from the conduct of a person who has demonstrated an inability to manage corporations...”

relevant companies must be in liquidation and ASIC must have received two or more initial statutory reports (s533(1) reports) from liquidators in the last seven years.

To support the disqualification action, ASIC often requires two or more supplementary reports (s533(2) reports) that provide more detailed information that can be used for consideration by an ASIC Hearing Delegate. These supplementary reports can be funded from the assets realised by the liquidator or if there are no assets, through the Assetless Administration Fund (AAF) or the liquidator may do the work ‘for free’.

While the law only requires people to be involved in two or more failed companies to be considered for director disqualification, not every company failure will meet the threshold, even though directors may have been involved with multiple company failures over time.

That means it could be a number of years since the relevant companies collapsed before a decision to disqualify a director from managing corporations can be made.

We encourage credit managers and other credit professionals to report any concerns about director

misconduct to ASIC in a collective effort to hold directors to account.

Appropriately, it is it is a criminal offence under 206A of the Corporations Act to continue to be involved in the management of a company whilst disqualified. The penalty for doing so is a maximum five years imprisonment. If ASIC has disqualified a director – or if they are otherwise automatically disqualified, for example, by virtue of bankruptcy or a criminal conviction for a dishonestly offence – and you see them continue to be involved in management of a company, we want to know about it.

Preventing directors from perpetuating misconduct and mismanagement helps to safeguard the interests of creditors, shareholders, employees and the public, and support broader public trust and confidence.

We will continue to take these actions, alongside civil and criminal actions, for directors who fail to comply with their legal duties.

*Claire LaBouchardiere Senior Executive Leader Companies and Small Business ASIC

Claire leads the Companies and Small Business team within ASIC’s Regulation and Supervision group. She is responsible for the regulation and supervision of companies and small business, with a focus on corporate governance and disclosure, financial reporting and audit quality, conduct of registered liquidators, and engagement with the small business sector. Claire is also responsible for leading ASIC’s work in relation to sustainable finance. Claire has more than 20 years’ experience in corporate law and regulation.

Empowering accounts receivable professionals with AI

Elevating AR performance with the ultimate team-friendly technology

By Eric Maisonhaute MICM*

Introduction

Manual tasks are the bane of modern-day AR departments – inhibiting timely collections, increasing operating costs, and ultimately leading to dissatisfied and difficult-to-retain team members, weakened cashflow and a poor customer experience. This article lays out a gameplan to get your entire team operating at peak performance.

How? By leveraging some of the latest and greatest AI technologies available today.

Complete the checklist!

Do you or other AR team members routinely struggle with:

✔ Timely cash collection & revenue recognition?

✔ Lack of visibility &/or collaboration throughout the AR lifecycle?

✔ Allocating incoming customer payments quickly & accurately?

✔ Delivering invoices successfully & in 100% compliance?

✔ Keeping short payments under control?

✔ Supporting company growth &/or retaining talent?

✔ If the answer’s “Yes” to one or more, this article is for you!

What you’ll learn:

l Why the use of AI is an arguable necessity for today’s AR teams, how it works, and which varieties have the biggest impact

“Any good IT security plan is built on a solid understanding of the data you manage, your operating environment, your regulatory obligations and your customers’ needs.”

Eric Maisonhaute MICM

l How AI tech positively transforms the day-to-day activities of specific AR team members

l Results from real companies that have made the transition from manual AR processes to AI-driven automation

l How to get started and where to learn more

Did you know?

According to a 2023 McKinsey & Company study, 64% of business owners believe AI will improve customer relationships and increase productivity.1

AI deep dive

Defining AI

There are many different categorisations, classifications

and complexities associated with AI.

However, at its simplest form, AI refers to the simulation of human intelligence by machines (i.e., smart machines). Its “cognitive” capabilities can include everything from perceiving, reasoning and learning to problem solving, selfcorrection and creativity.

The business case for AI in AR

Sports teams use AI to analyse player performances and aid in tactical decision-making. AI in healthcare is used to reduce human error and improve patient outcomes. And most all of us already use AI to make our every-day experiences more efficient. It’s only natural, then, that essential business

departments like AR are starting to get in on the action.

Here are the three most transformational advantages of AI in AR:

l Automating manual tasks so team members can focus on value-added activities, improving both the employee experience and overall efficiency.

l Facilitating decisionmaking and risk assessment via AI-driven insights that provide visibility into realtime situations and predictive analytics.

l Boosting business resiliency by empowering AR teams to be more proactive, competitive and agile –particularly in times of uncertainty and/or crisis. 

Customer Service and Technology

Separating falsehoods from facts

FALSEHOOD

“AI is all the rage right now, but we’re not going to jump on the bandwagon for something that might wind up being a passing fad.”

“We’re not interested in investing in any technology that’s designed to replace humans.”

“AI definitely has benefits within AR, but the investment simply isn’t worth the return.”

“Big Tech can’t be trusted – using AI puts our data, employees and customers at risk.”

“AI will solve ALL our problems in AR.”

A play-by-play guide to the AI tools you’ll be using

The use of AI within AR is not an “everything but the kitchen sink” type of scenario. Automated AR solutions take a very targeted and tactical approach, using the following select group of AI technologies that mix well with typical AR environments.

Machine learning

Machine learning is a branch off the AI tree designed to imitate human intelligence. It enables systems to learn and improve from experience using data and algorithms.

l Improves accuracy over time

l Works well with relatively small datasets

FACT

AI isn’t going anywhere. In fact, it’s arguable that we’ve only seen the tip of the AI iceberg. McKinsey & Company now estimates that, considering the rapid emergence of new AI technologies, half of all work activities could be automated between 2030 and 2060.1

While there are situations where AI is used to replace jobs, that is overwhelmingly not the case in AR and similar business processes. Instead, it’s a collaborative human-machine dynamic whereby the technology acts as a digital assistant to maximise the “good” and minimise the “bad” associated with day-to-day activities.

There was a time when AI was seemingly reserved for only big companies with deep pockets. Fortunately, as AI offerings have matured, a rich ecosystem of options are now available to any company hoping to achieve a competitive advantage without breaking the bank.

Data protection is a serious concern in relation to some AI tools. That’s why many solution providers ensure your data stays yours by not allowing it to be used to inform and/or improve some AI models.

Hang on there, cowboy. It’s easy to get excited about AI’s potential but it’s more than simply automating a “bad” process –preparation and strategy are a must.

l Some human intervention required

Best used in AR for: Predicting likely payment arrival based on previous invoices, payment history and other data – improving collections efficiency and visibility over incoming cash.

NLP

Another type of machine learning, NLP enables systems to understand human language in written and spoken form.

l Roots in the field of linguistics

l Analyses, understands and derives meaning

l Generates human-language responses

Best used in AR for: Facilitating better decision-

making by recognising key words from a customer message and suggesting actions or providing responses accordingly.

Deep learning

Deep learning is a subset of machine learning that uses artificial neural networks to recognise complex patterns and provide accurate insights and predictions.

l Inspired by the human brain

l Minimal to no human intervention

l Builds extensive knowledge over time

Best used in AR for: Extracting data from AR documents such as remittance

advices or claims from emails and automatically routing them to the appropriate process or user.

Complementary tools

AI might be in the spotlight more often, but for most leading AR automation solutions, it’s not the only “player on the field.” RPA, OCR and other digital capabilities help complement AI and deliver maximum value to your AR team.

Did you know?

A recent Accenture study found that, among companies who have integrated AI into their business strategies, 42% said ROI exceeded their expectations – with only 1% saying it didn’t meet expectations.2

A winning formula: AR teams + AI

Now that you’ve learned some of the X’s and O’s surrounding AI and its application within AR, it’s time to see how it specifically impacts the major players on a typical AR team.

To reiterate: AI isn’t better or worse for one person/position – it’s a game-changer for everyone.

Who it benefits

AR teams come in all shapes and sizes, but for clarity and concision, this AI article focuses on these key AR stakeholders:

✔ Credit Analyst

✔ Cash Application and Deduction Specialist

✔ Collections Specialist

✔ AR/Credit Manager

✔ CFO

SEO-YUN

The Credit Analyst

Seo-yun loves being a Credit Analyst for its work/life balance, upward mobility opportunities and the thrill of onboarding new customers. Know what she doesn’t love? All the busy work – manually inputting data, handling Excel templates and ping-ponging between disjointed systems – that prevents her from doing her actual job of analysing creditworthiness.

Fortunately, Seo-yun has an ideal digital teammate in AI, which helps her support the Sales team and perform her job by quickly and easily:

l Collecting, combining and weighing all the internal and external data required to assess customers’ credit risk

l Suggesting credit terms to customers (including both risk category and credit limit)

l Creating reports, counters and graphs after a simple prompt from Seo-yun to the digital assistant (e.g., “Can you make a list of highrisk customers, displaying their risk category, credit limit and total exposure?”)

TONYA

The Cash Application & Deduction Specialist

As a Cash App/Deduction specialist, Tonya knows that matching payments to corresponding open items is essential to AR success. So why doesn’t her job feel essential? The monotony of juggling various payment sources and formats combined with navigating short payments and exceptions makes

Tonya feel massively overworked yet, somehow, maddeningly underutilised.

AI has helped Tonya achieve renewed purpose and productivity by shouldering tasks such as:

l Routing inbound remittances and claims to the automated AR solution

l Splitting batches of remittances or lockbox files

l Extracting data from supporting documents

l Finding the correct matching to auto-allocate a payment among multiple open items combinations

l Recommending allocation suggestions when auto-allocation is

Customer Service and Technology

Field notes

What are some real results seen after automating the cash app process with AI-driven tools?

Laminex:

✔ 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

Fletcher Steel:

✔ 95% faster remittance processing time

✔ 40% reduction in processing time

✔ 30% decrease in unallocated payments

CHARLES

The Collections Specialist Nobody ever said the job of Collections Specialist was easy. But for Charles, that’s part of the appeal. With a perfect blend of tact and tenacity, he thrives as one of his team’s go-to problemsolvers. Here’s the catch:

Managing all those reminders, follow-ups and dispute resolutions means poor Charles is often disrupted with tedious work that limits his full potential. With AI’s help, Chuck can be more strategic in his collections efforts thanks to its ability to:

l Provide payment predictions (per invoice and reports) and customer-estimated risk level

l Prioritise collection calls by risk level

l Suggest deferring a call when payment is expected to arrive in the next 3 days

l Suggest actions to customer messages, such as:

Log a promise-to-pay

Resend an invoice or account statement

Update a contact

LANCE

The AR/Credit Manager

As overseer of all-things credit, AR and collections, Lance is the kind of guy who takes pride in being the “head coach” of his team. But he’s not too proud to admit that performance has been slumping as of late. Many of Lance’s responsibilities (e.g., monitoring accounts, managing cashflow, mitigating risks) are now harder to execute and carry a heavier cost.

AI’s the perfect free-agent pickup for Lance, helping him be the best version of himself by:

l Providing collections forecast at 30/60 days or more

l Predicting collection effort based on collection strategy, customer and invoice data, and payment predictions

l Uncovering deep insights into

customer portfolios (expected payments and risk level)

l Providing Lance with greater insight into his team’s performance and workload –helping him identify who’s an MVP and who might be at risk of burnout or boreout.

Field notes

What are real Finance/Credit Managers saying?

“It gives me the peace of mind to log into the Collections solution once or twice a week and have a look at how the collections are going both at a consolidated level and customer-by-customer basis. So having that visibility and transparency is a true gamechanger for us.”

Director of Finance | AS Colour

“Cash Application provides easy remittance validation and seamless allocations, while Collections Management not only provides full visibility, automated reminder and statement delivery to customers, but also a self-service option for customers and a full overview of their account.”

Credit Manager | True Alliance

ALICE

The CFO Strategic advisor. Financial guru. Value architect. As CFO, Alice wears a lot of hats in order to properly allocate resources, manage risks and make judicious financial decisions with an eye toward continued growth and resiliency. But with so many obstacles in her way (e.g., volatile economy, high inflation, challenging labor market), Alice has her work cut out for her. Although Alice doesn’t use AI directly, its impact on the AR team equates to transformational results within The Office of the CFO, including:

l Improved cashflow position thanks to:

Fewer bottlenecks slowing down collection

Faster allocation via AI-driven efficiencies

l Better analytical insights into:

Real-time data such as DSO, BPDSO & CEI

Predictive forecasting & performance monitoring

l Happier employees as a result of more:

Dignified, meaningful & valueadded work

Day-to-day autonomy & careerpathing opportunities

l Smarter business growth via the ability to:

Attract & retain more customers & top AR talent

Scale, adapt & maintain positive cashflow.

An AI gameplan everyone can get behind AI-driven automation solutions help today’s AR teams achieve their ultimate goals – faster cash collection, improved customer experience and smarter growth strategies – by removing many of the manual burdens preventing your team of AR specialists from truly being special.

In this article, we hope you learned how AI can do the following for your team:

✔ Collect, combine and analyse data for a comprehensive credit risk assessment

✔ Enhance the collections process with payment forecasts and collections call prioritisation

✔ Accelerate processes by automating routing and data extraction of all AR documents

✔ Make smart suggestions and predictions to facilitate better decision-making

✔ Simplify communications and collaboration across multiple people and departments Armed with this data, you can now take the next step forward in being a more confident, collaborative and competitive AR operation.

*Eric Maisonhaute MICM Director – Accounts Receivable Solutions, Esker Australia Pty Ltd

T: 02 8596 5126, M: 0479 089 668 E: eric.maisonhaute@esker.com.au www.esker.com.au

SOURCES

The following sources were used in this article:

1 The economic potential of generative AI: The next productivity frontier. June 14, 2023. McKinsey & Company.

2 Guan, L., Roussiere, P., Vasal, A., Vohra, S. The art of AI maturity: Advancing from practice to performance. 2022. Accenture.

The ROI of speed: How integrated digital solutions can expedite the payment cycle

By Adrian Floate MICM*

Bringing in new business, extending credit to new customers, and delivering exceptional products and services all contribute to driving revenue growth. However, one often overlooked element to a business’s longevity is the payment cycle itself. Without visibility over how and when you’ll get paid, it’s difficult to meet a company’s ongoing financial obligations and plan for investments in growth.

Despite rising interest rates and input costs, trade credit applications have remained steady in Australia, only falling marginally by 0.4 per

cent in the quarter ending 31 December 2023. This fall may have been driven in part by the rise of payment options available and the ability for companies to make payments with credit cards which extend payment terms, especially with bonus of interest-free periods offered by the card provider.

Another contributing factor to the plateau in trade credit applications could be the trend that began to emerge in 2022. As inflation and interest rates began to rise, over half (65 per cent) of credit managers said they would tighten collections. This trend

“As credit managers continue looking for ways to proactively manage risk in an increasingly complex and uncertain economic environment, expediting the payment cycle by digitising payment systems and processes has become critical.”

Adrian Floate MICM

was driven by an expected increase in insolvencies, continued interest rate increases, supply chain delays, rising input costs, and ongoing geopolitical and macroeconomic uncertainty.

As credit managers continue looking for ways to proactively manage risk in an increasingly complex and uncertain economic environment, expediting the payment cycle by digitising payment systems and processes has become critical. This transformation drives operational efficiencies and has wide-reaching strategic and financial benefits for companies across all industries.

Streamlined invoicing processes transform payments

The right digital solution should make trading with customers easier, and it should also drive cross-functional transformation. Invoicing is a prime example. Tech-driven solutions that integrate across a business, based on a single source of data truth, can drive efficiencies throughout the finance journey, from requisition requests and raising purchase orders to sending invoices and getting paid. By automating the invoicing process, invoices are generated and sent promptly. This can be done through

integration with a company’s ERP or accounting systems where, once an order or job has been marked as completed, an invoice is automatically generated and sent.

On top of invoice automation, when invoices are sent using ledger-toledger integration, it provides an added layer of efficiency that can minimise delays, reduce errors, and expedite the payment cycle. Over 1.2 billion invoices are generated in Australia each year, with 20 per cent sent to the wrong person and 30 per cent having incorrect information. Further, it costs $30 to process a paper

“The right digital solution should make trading with customers easier, and it should also drive crossfunctional transformation. Invoicing is a prime example.” 

Customer

invoice verses less than $10 to process an eInvoice. Using digital solutions that streamline and automate invoicing processes and subsequent tasks, such as accounts receivable reconciliation and reporting, can help credit managers more closely monitor their credit and reduce their days sales outstanding (DSO).

Expedited payment processing boosts cash flow

Compared to traditional payment methods like cheque and EFT, electronic payment platforms facilitate faster payment processing. According to a recent McKinsey report, payments

processed via eCommerce gateways result in a 20 per cent reduction in cash conversion cycles. Similarly, an integrated payment solution can have the same impact by making it easier for suppliers to send invoices and for customers to pay. Notably, invoices can often remain unpaid due to errors or omissions of the information required to make payment. Implementing an integrated payment solution addresses these issues so credit managers can receive payments faster, improving cash flow and reducing the risk of late payments.

For those customers who need access to trade credit but

don’t fit your company’s risk profile, or if your company is aiming to reduce its reliance on trade credit, some digital payment platforms can provide customers with access to thirdparty finance. This allows a customer to effectively extend their payment terms to those that better align with their inflows and outflows. In this win-win scenario the supplier receives payment in full, while the customer gets more time to pay, and the financial risk shifts to the finance provider – a key benefit to credit managers whose key focus is proactively managing the risk of outstanding payments.

“Compared to traditional payment methods like cheque and EFT, electronic payment platforms facilitate faster payment processing.”

Real-time payment

monitoring drives proactive credit management and better cross-functional collaboration

An effective integrated payment solution should drive productivity and deliver benefits across an organisation. A key part of implementing and deriving the most value from these solutions is using business intelligence dashboards to get real-time updates on payment statuses and cash flow. This enables credit managers to track payments and address any delays promptly. For businesses that proactively monitor 90 per cent or more of their invoices, they are more likely to get paid within a week of the invoice date. This is because the analytics dashboard within an integrated payment system can prompt follow-up through integration with your

“By continually monitoring financial dashboards, credit management teams can collaborate more effectively across the business.”

accounting and ERP software to determine which invoices are unpaid. Reminders can start with a prompt in the lead-up to the invoice’s due date, progressing to a follow-up on or soon after the due date checking when payment will be received.

By continually monitoring financial dashboards, credit management teams can collaborate more effectively across the business. This collaboration involves proactive monitoring and reporting for accounts receivable professionals and financial leaders. It also includes liaising with supply chain management and sales

staff to manage the sales pipeline effectively, achieving revenue-growth targets without compromising the company’s credit risk.

In cases where a problem account is not paying, realtime monitoring allows credit managers and supply chain management teams to collaborate on how the delivery of products and services will be managed. Solutions could include delaying delivery until payment is made, revising the customer’s order frequency so that transactions best align with all parties’ cash inflows and outflows, or reducing the

amount of trade credit available on future orders. This ability to collaborate, while helping professionals across a business deliver on their responsibilities provides strategic, operational, and commercial value all through the data derived from one connected payments platform.

Integration with accounting systems improves productivity and reduces errors

It’s estimated that accounts teams spend 520 hours per year on manual tasks, such as data entry, manual reconciliation, and reporting. Further, businesses spend an average of 12 days per year following up overdue invoices. Digital solutions that seamlessly integrate with accounting and ERP systems streamline reconciliation and reporting processes while reducing errors due to manual data entry.

Seamless integration drives data from a single point within the business – the point of payment. This data is pushed to the company’s existing systems, saving time and reducing errors. As more time is saved, more time is made available for strategic tasks, producing a flywheel effect, where the longer the solution is in place, the more the benefits compound.

Enhanced customer relations strengthen retention and loyalty

Digital payment solutions offer customers convenience and flexibility by improving their

“For businesses that implement options such as ledger-to-ledger integration, it reduces the risk of common types of fraud, including business email compromise.”

payment experience. Not only do features such as access to a range of payment options, ledger-to-ledger integration, and the ability to access thirdparty finance provide an unrivalled payment experience, but it also demonstrates how the right solution will benefit your business, and all the other stakeholders in your supply chain. Further, providing multiple payment options and a userfriendly payment process can encourage prompt customer payments. When you can offer this seamless payment experience, customers will return, resulting in lower churn and the benefits of loyalty – consistent

cash flow, quality customers, and the ability to plan for investments in growth.

Strengthened security measures reduce fraud risk

Apart from more proactive credit management and improved cash flow management, digital payment solutions provide advanced security features. These features safeguard sensitive payment information and reduce the risk of fraud through functionality such as tokenisation, which ensures a customer’s sensitive information is never stored or shared. For businesses that implement options such as ledger-to-

ledger integration, it reduces the risk of common types of fraud, including business email compromise. In the 2020-21 financial year, business email compromise cost Australian companies over $81 million, with three-quarters of ASX-200 companies failing to implement basic email protection.

By implementing solutions that provide more secure payment options and gateways, trust with your customers and suppliers is strengthened. Payment disputes are also minimised, as your business will have implemented the

appropriate measures to mitigate the risk of fraud originating from your systems and processes.

Expedite

your payment cycle and transform your systems and processes with integrated payments

Accelerating payments benefits credit managers by improving cash flow, reducing credit risk, enhancing operational efficiency, and fostering stronger customer relationships. Further, investing in integrated payment solutions and eInvoicing yields a high return on investment by ensuring financial stability,

stronger cross-functional collaboration, and long-term success.

*Adrian Floate MICM Managing Director at Spenda www.spenda.co

Spenda is an integrated business platform that enables businesses across the supply chain to sell better and get paid faster. The Company serves as both a software solutions provider and a payment processor and delivers the essential infrastructure to streamline business processes before, during and after the payment event. They deliver one connected platform that displaces multiple disparate systems in favour of one collaborative solution that improves transactional efficiency between businesses.

“Digital solutions that seamlessly integrate with accounting and ERP systems streamline reconciliation and reporting processes while reducing errors due to manual data entry.”

The goalie symbiosis

By Paul Burgess MICM*

It is true that sport is by default a zero-sum game, in that there must be a winner and a loser. Each side is working hard towards that very end. For everyone that follows soccer (football) or field Hockey, you will know the importance of the different lines of players and how they interact with each other.

I was interested the other day to listen to some head coaches for the NBA in the US. They were not talking about winning or losing the game/s. They were focused on the process, with the view that focusing on the process would naturally result in a win for the team. But inside the team, there was no win or lose, there was just team. And

this, by definition, is a win-win game. A net positive outcome. Everyone wins.

When you look at the interaction between the lines of players, the Forwards, Mid Fielders, and Backs, you understand how this win-win game unfolds. For the Backs to win, they must ensure the Mids win, and for the Mids to win, they must ensure the Forwards win. The Backs support the Mids, who in turn, support the Forwards. Each line has a job to do, each player creating a task to get the ball to the next line of players with the view to taking the ball further.

There are many obstacles that are placed in the way: the other team for example. But the biggest obstacle for any team is the team itself. Are they working well together, are some members more fatigued than others, is each player’s internal voice supporting them or hindering them? There are games inside of games, obstacles upon obstacles.

Let us extrapolate that out to the business world. After all, we are an organisation of different roles all looking to advance up the field with the goal of being successful at the other end. Let’s say that the Forward line is the coal face employee’s, typically the sales staff, those members entrusted with ‘getting the revenue’. In the services industries, these may

be the service providers, but for our discussion let’s call them the sales team. Just to simplify.

The Mid Fielders are the sales managers/supervisors that directly support the sales team. They are the ones that help keep the sales team focused on the goal, pushing them in the right direction. The line managers help push forward and regroup to stop any losses pushing the team backwards.

The Back line are the senior sales managers, looking at the play from a more holistic view. They can see the play, see the issues, and are able to update plans/processes to enable a smooth flow forward. The direction of play is decided at this level, moving from side to side to find the best approach forward. They work closely with line managers to ensure communication is taken forward and received back from the sales team.

So how does the Credit function fit with all of this. The credit team are the Goalies of the business world. They stave off losses and guide the team in defence. As importantly, they set up the team for success. The Goalie can see the whole field, strives to understand the entire plan, and guides those in the back line on where to focus the attack and the defence. When you watch an international game, you will note the goalie does most of their work in attack,

Paul Burgess MICM

and not defence. Although in defence, they work very closely with the back line (senior sales management) to ensure the whole team is moving as one. They are the wise words of encouragement and advice givers for the critical path to success.

We can look at the executive level team as the coaches and managers, the back-office staff as the trainers and support staff. Everyone has an integral role in the team to ensure there is a win-win outcome on the field. Of note, it is the individual expertise of each function that adds value to the outcome. The player that scores the goal may be the hero whose name is on everyone’s lips, but without the whole team, there is no opportunity to be a hero.

Through this analogy I am

“The credit team are the Goalies of the business world. They stave off losses and guide the team in defence. As importantly, they set up the team for success.”

attempting to convey the position of Credit in the overall organisation, and more importantly, within the sales function. Credit polices the defence but is a driving force in attack. There should be no friction between sales and credit because they are on the same team, and when each understand the other, there is a symbiosis that occurs, and the team starts to move as one. I read the other day a perspective that said, in basic terms, that when there is a

symbiosis in an organisation between sales and credit, silence is the outcome. I agree with this thought and would add that the resulting increase in revenue and profit should be a shining light.

When the team focuses on the process, focuses on how we are moving together, then, and only then, will the true rewards of a balanced organisation be achieved.

*Paul Burgess BBusCom CPA CMgr FIML

MCMI MICM CDec (Qld) National Credit Manager

member anniversaries

We recognise those members who achieved membership anniversaries between August and October 2022. Congratulations to these members on achieving such important milestones.

member anniversaries

queensland

President’s Report

2024 has started off strong! First up, Trivia Night set the stage for a year of camaraderie and fun, lighting up the evening of Friday the 16th of February with laughter and friendly competition. It was a delightful kick-off to our event calendar, bringing together members from across Brisbane for a fun night out.

The excitement didn’t stop there! On the 14th of March, we hosted our inaugural combined Economic and Risk Seminar. With a remarkable turnout of 50 attendees, the event was a resounding success, fostering insightful discussions and networking opportunities for our members. Big thank you to our panellists who all did a great job!

Now, it’s time to shine the spotlight on some remarkable individuals within the QLD AICM Council.

First and foremost, I would like to announce we have elected a new Vice President – Emma Purcival. Emma, a lot would know as our most recent CCE Dux who brings a wealth of knowledge to the team, Emma has been looking after (and will continue to chair) our media portfolio and we are thrilled to have her lead us forward into new horizons. A heartfelt thank you also goes out to Michelle Kirkby, whose invaluable contributions over the past two years have left an incredible mark on our local team here. Michelle’s leadership and passion for our WINC events have been truly inspiring, and she will be deeply missed.

But as one chapter closes, another begins, and we are delighted to welcome Fiona Reynolds and Kirsty Gray to Council. Since joining earlier this year, Fiona and Kirsty have wasted no time in making

their presence felt, bringing fresh perspectives and enthusiasm to the table. Fiona’s role on our Education Committee and Kirsty’s co-chairing of the Awards Portfolio alongside last year’s YCP winner, Jordan, speak volumes about their dedication and commitment to the institute.

As we now get ready for the much-anticipated awards season, including the Young Credit Professional (YCP) and Credit Professional (CP) awards, as well as our beloved WINC, the excitement is contagious! These events not only celebrate achievement and excellence within our community but also serve as a testament to the passion and dedication that define the AICM. Whether you’re a seasoned member or a Kirra Nicholson.

Iplex Group: Meghan Cooper MICM, Crystelle Biggs MICM, Taylor McGovern MICM, Kylie McDonald MICM, Kathy Collins MICM and Alyson Tregear MICM CCE.

newcomer, we invite you to join us on this exciting journey ahead. See you at the next event!

– Stacey Woodward MICM CCE Queensland Division President

Trivia Night at the Pineapple Hotel

16 February 2024

Our first social night of the year took us to the Iconic Pineapple Hotel in Brisbane, established in 1984 there are not too many people in Brisbane that have not enjoyed a beer or two there as some stage.

Think Trivia once again put together an amazing night. It doesn’t matter if you are a trivia buff or a

novice (that would be me) it’s always a night full of laughs, banter, deep thought, whispering and the odd answer being yelled out in excitement.

AICM members never disappoint with their

Fiona Reynolds MICM, Stacey Woodwar MICM CCE, Luke Thirlwell MICM CCE, Justin Watson MICM, Steven Staatz MICM CCE and Sean Toohey MICM.

The Winning Team: Trivi-a-Jility

Madison Ryan MICM, Emma Percival MICM CCE, Nicholas Lancaster MICM and Mikaela Lancaster.

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creativity with team names, some of the favourites of the night being Quizly Bears, Trivi-a-Jility, Smartinies and I skipped Pink for this!

Not only are AICM members credit gurus, but did you know that there are some aircraft engineers amongst us? Maybe they are only engineers of the paper kind, but there was some steep competition out there with Team Swifties taking out 1st place with their paper aeroplane flight distance.

Trivi-a-Jility took out this year’s first place and the Swifties came in a close second. All other teams were not too far behind. We certainly have a broad range of skill sets in our industry.

Keep an eye out for our next social event and mark it in your diaries. These events are a great way to wind down at the end of the week and catch up with other credit professionals.

Member in the Spotlight

Elizabeth Morris FICM CCE

Elizabeth is a well-known member of the AICM. She is a CCE, holds a Graduate Diploma in Financial Services and is a Fellow of the institute – FICM.

Elizabeth has been working as Senior Credit Officer at Endeavour Foundation for almost 7 years. She has been a member of the AICM since March 1994 –30 years of continuous membership with the AICM.

What is your biggest professional accomplishment to date?

Achieving 0% in 90 days + for trade debtors and CCE Dux 2000

What advice can you give to emerging credit professionals?

Join the AICM, get qualified, keep up to date, network and find yourself some mentors or as I call them “credit gurus”. They may be retired but have a wealth of knowledge and are more than happy to help you.

What has been your biggest professional challenge to date?

Getting the credit team recognised as a valuable asset to the organisation, but I think the tide has turned and a lot has changed in recent years. I struggled a lot with this when I first entered the industry.

What has being a member of the AICM done for you?

Where do I start?? The AICM has given me the skills and training to pursue my chosen career; lifelong friends; industry recognised qualifications; fantastic professional seminars and conferences. The AICM has helped me to decide to pursue credit as a career, not just a job.

What are your favourite things to do outside of your profession?

Theatre, I go to see live theatre, I read plays, I do theatre, such as acting; casting; directing; building sets; serving tea and coffee; etc; etc. I live and breathe it.

Stacey Woodward MICM CCE and Luke Thirlwell MICM CCE.

Stacey Woodward MICM CCE and Elizabeth Morris FICM CCE.

AICM Love story

We all know that the AICM is a great place to seek knowledge for anything credit related.  We have a huge network with many talented people who attend conferences, seminars, and social networking events. It was at one of our networking social events in 2019 that changed the life of two of our members forever. A chance meeting at a game of lawn bowls that has now brought them a lifetime of love and happiness and a couple of cute puppies.

The night it all began in 2019.

Mikaela Lancaster is a Funding Analyst for the Department of Employment and Workplace Relations and Nick Lancaster is a Senior Manager at Rodgers Reidy. Both having a background in insolvency, the pair hit it off straight away. Lawn Bowls was just the start of a beautiful romance for the couple who married in 2023.

Mikaela, how long have you been a member of the AICM?

I am not actually a member, but I have been regularly attending events since mid-2019.

What is your biggest professional accomplishment to date?

One of the professional accomplishments that I am most proud of was my first ever referral as a result of my networking events which was in my first year working as a graduate at a boutique solvency firm.

What are your favourite things to do outside of your profession?

I absolutely love to travel (both domestically and internationally), take my dogs to the park and spend quality time with my family and friends.

Nick, how long have you been a member of the AICM?

I became a member of AICM sometime in 2017, shortly after commencing my career as an Insolvency Practitioner.

What is your biggest professional accomplishment to date?

Along with my colleagues and our legal team; my biggest professional achievement was settling a large, complex, and hard fought litigation – which went on for a very long three years.

What are your favourite things to do outside of your profession?

My favourite things to do outside professional life is to spend time with Mikaela and our King Charles Cavalier Spaniels, Daisy and Bailey. I also like to enjoy the many restaurants around Brisbane and try to balance that out by keeping active at the gym.

The Australian Institute of Credit Management welcomes our Partners for 2024

National Partners

Divisional Partners Official Division Supporting Sponsors

Our National, Divisional and Professional Partners support and work with the AICM to promote the Institute’s activities, represent the Credit Industry and develop the careers of all Credit Professionals. As these organisations support your Institute and your Industry please consider them when you require assistance.

Mikaela and Nick’s wedding day in 2023.

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President’s Report

The SA Division Council is in full swing with 4 wonderful delegates taking on casual roles within our council. These include:

l Adrian Stewart MICM CCE, National Pump and Energy: Membership and CCE

l Maria Scacchitti MICM, NCI: Media

l Robin Matters MICM, Merc Property: Professional Development

l Elizabeth Dobbie MICM, NCI: Events

The council is so excited to welcome these new council members and look forward to the experience and fresh perspectives that they will bring to their roles.

Our events team of Elizabeth Dobbie and Lisa Anderson are hard at work planning two more social events for SA, which we are anticipating will be amazing following how great our twilight croquet event was earlier this year.

SA’s membership continues to be in growth, and our current focus is on encouraging our delegates to participate in the Young Credit Professional and Credit Professional of the year awards, and to get their CCE accreditation in the September intake.

Our Risk and Economic Seminar was a great success, being informative and also a great opportunity to connect with our colleagues in credit.

SA’s Women in Credit Luncheon is due to be held on the 24th of May and we have a great number of attendees thus far, and we are looking forward to our WINC Chair, Alice Carter, to MC this amazing event.

SA Risk & Economic Seminar

“United with Esteemed Credit Experts at the Enlightening SA Risk & Economic Seminar”

On the 20th of March 2024 we held our SA Risk

& Economic Seminar that introduced us into the world of credit management. The seminar was a unique blend of economic insights, risk management strategies, legal updates, and interactive discussions.

This year we were fortunate to have several experienced experts generously sharing their knowledge starting with current economic updates by a leading economist Susan Stone from the Credit Union SA Chair of Economics – UniSA Business.

Followed by Nick Pilavidis (CEO) who spoke about the Risk Outlook which included the recent trends in insolvency and payment times and the potential legislative changes and what AICM are lobbying for.

Allan Kawalsky, partner of Turks along with Yulia Petrenko, registered liquidator covered the impacts of increasing pressure from economic conditions, the ATO approach to debt recovery and small business restructuring.

We also had Alice Carter, Partner, Lynch Meyer Lawyers, Kylie Fiebig, Transactional Services

Susan Stone from Credit Union SA presenting the Economic Update.

Clare Venema MICM CCE.

Manager, Viterra Australia, Megan Papadopoulos, GM Customer Contact, Bendigo and Adelaide Bank, Roger Armatys, General Manager-SA at NCI (Brokers) Pty Ltd speak about Strategies and Solutions as Credit Managers which included support and enforcement, fraud and cyber security.

It engaged in stimulating conversations with fellow credit professionals and gained valuable insights. This seminar was more than just a learning experience – it was an opportunity to connect, share, and grow. By harnessing the thought leadership that only the Australian Institute of Credit Management (AICM) can bring together, we aim to create an environment that encourages innovation and growth.

Spotlight on a 40 Year Member

Lindsay Chuck LICM

At SA’s Credit Nexus event in November 2023, the Division were able to celebrate the wonderful achievement of Lindsay Chuck being a 40 year member of the AICM.

Lindsay has served on council for a number of years, and had the following to share in reflection of his time with the AICM.

What is your biggest professional accomplishment to date?

Thinking back over my career, I had many highlights, however the one big accomplishment was being involved in a team implementing a marketing and credit software package. The challenge of changing from a manual system to a software package took six months, and involved visiting other company sites, problem solving, testing, training and at the completion, a feeling of accomplishment.

What advice can you give to emerging credit professionals?

Think of the AICM as a resource, an organisation

Allan Kawalsky MICM, Nick Pilavidis FICM CCE and Yulia Petrenko MICM.

Alice Carter MICM CCE, Kylie Fiebig MICM, Megan Papadopoulos MICM and Roger Armatys MICM.

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that holds workshops, functions, and educational opportunities through its courses to advance your career, informs you of legislative changes, gives you scope to provide comment for submissions to government, provides opportunities to join a network of likeminded credit professionals, and a stepping stone to apply for other job prospects. Finally, consider joining a division council, it’s a worthwhile and memorable experience.

What has been your biggest professional challenge to date?

A credit professional encounters many challenges during their career, however I consider the biggest one is maintaining an updated knowledge on credit matters in an ever-changing credit environment.

What has been a member of the AICM done for you?

The AICM’s workshops, functions, education courses, and networking opportunities have been of immense assistance when considering credit decisions and employment opportunities. It has also resulted in ongoing friendships and memorable experiences.

What do you like to do for fun?

I enjoy tai chi, taking the dog for a walk along the beach, travel, looking after the grandkids, and assisting people with technology issues. I’m secretary of a computer club and of two other committees, and I enjoy the challenge of operating efficiently.

The SA Council would like to extend their gratitude for Lindsay’s years of contribution to the AICM, what a great achievement!

Spotlight on Members

What inspired the establishment of this firm?

We (the directors) had all worked together for many years in credit litigation and commercial dispute resolution, insolvency law and other credit management related legal services. We shared the same passion for excellence and thrived on achieving excellent results for our clients. We also held similar views on a variety of matters like the importance of innovation, a supportive workplace culture, the need for a

strategic and pragmatic approach to litigation and cost transparency for our clients.

We wanted to start our own firm so we could ensure that our shared passion and values could be implemented in the way we envisioned it.

What areas of law does the firm specialise in?

We specialise in commercial dispute resolution and credit litigation, insolvency and restructuring, and all other legal services pertaining to the credit management industry.

What sets your firm apart from others that are in the same field?

What sets us apart is: our expertise in credit insured debts, complex litigation matters and insolvency; our experience operating in all major jurisdictions in Australia; the experience of our directors; and our involvement in the numerous relevant professional associations around Australia, such as the AICM and ARITA.

Can you describe your firm’s approach to client service?

Our firm’s mission is to provide exceptional service for every client, always. Client service is the cornerstone of our approach to providing legal services, which is underpinned by our passion and commitment to excellence, cost-transparency, and personal service. By integrating these elements into our client service approach, we aim to build long-lasting relationships with our clients.

What is your firm’s strategy for saying up to date with the latest legal developments?

Staying up to date with the latest legal developments is essential for our firm, and to ensure that we remain up to date we: invest in cutting-edge legal research tools and databases to access the latest case law, statutes, regulations, and legal commentary; undertake continuous education through seminars, workshops, and professional memberships such as the AICM and ARITA; maintain strong relationships with legal professionals, including colleagues, industry experts, and regulatory authorities.

By employing these strategies, our firm remains at the forefront of legal developments, allowing us to provide timely and informed advice to our clients.

Can you tell us a bit about your professional background and experience (on all 3 directors).

James Devonish FICM CCE

James has 15+ years experience in commercial dispute resolution and credit-litigation, insolvency, debt recovery, credit management related legal services and securities enforcement.

Prior to becoming a director of Devonish, Harris & Henderson, James worked as the Managing Director of a national firm which specialised in credit litigation, commercial dispute resolution and insolvency. Prior to that, he was a partner at a leading Adelaide commercial law firm. James regularly appears as Counsel in all major jurisdictions across Australia. He is a recognised expert on the Personal Property and Securities Act 2009 (Cth) and is a professional member of the Australian Restructuring and Turnaround Association (ARITA) as well as serving on the SA/NT Division Committee.

James has also been listed as a “Recommend” lawyer in Doyle’s Guide as a Leading Insolvency and Restructuring Lawyer (SA) for 2023 and 2021.

Briana Harris MICM

Briana has 7+ years experience in credit litigation, insolvency, debt recovery and credit management related legal services.

Prior to becoming a director of Devonish Harris & Henderson, Briana worked for one of the Big 4 banks in mortgage collections, for the Legal Services Commission and for a national firm as part of a publicly listed collection agency.

She was the Australian Institute of Credit Management’s Young Credit Professional of the Year (SA) Award in 2020 and is a past President of the AICM’s SA Division.

Cameron Henderson MICM

Cameron has 7+ years experience in credit litigation, insolvency, debt recovery and credit management related legal services.

Prior to becoming a director of Devonish Harris & Henderson, Cameron worked for the South Australian Chamber of Commerce and

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Industry, a leading Adelaide commercial law firm, as a Ministerial adviser to the South Australian Government and for a national firm as part of a publicly listed collection agency.

Cameron is on Civil Litigation Committee and is Co-Chair of the Young Lawyers Committee of the Law Society of SA. He is also a business Career Mentor at the University of South Australia and serves on the board of the Adelaide Business Hub in Port Adelaide.

He was the Australian Institute of Credit Management’s Young Credit Professional of the Year (SA) Award in 2021 and currently serves as Treasurer on the AICM SA Council.

How do you approach decision making in the role as directors?

All decisions are made together as a team and with the firm’s mission and values in mind. Ultimately, our goal is to make decisions that align with the firm’s mission, values, and strategic objectives, while also serving the best interests of our clients.

The Australian Institute of Credit Management welcomes our Partners for 2024

Our National, Divisional and Professional Partners support and work with the AICM to promote the Institute’s activities, represent the Credit Industry and develop the careers of all Credit Professionals. As these organisations support your Institute and your Industry please consider them when you require assistance.

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President’s report

Here we are halfway through 2024 and quickly approaching our Annual Conference in October. We have had a good start to 2024 over here in WA with our Economic Seminar Luncheon in February and our 2nd Annual Golf day in May 2024 which was well attended by many of our WA Members!

We are now looking forward to our Women in Credit Luncheon in June with Natalie Medhurst, Former Women’s Netball Champion as our keynote speaker for the event being held at the QT in Perth, which should be an amazing afternoon of networking and catching up with friends and colleagues. WINC is always a special event and of course 2024 is going to be no different in that respect. The Theme this year is “Empowering Women through Education” and our Charity

Partner is Orange Sky Australia, who are delighted to be our selected charity partner for our WINC series this year.

Orange Sky’s purpose is to positively connect communities by supporting people experiencing homelessness and hardship through access to free laundry, showers, and meaningful conversations.

Winning Team: NCI Group (LtoR) Geoff Geary, Cheri Bowater MICM CCE, Dan Czaplinski MICM and Beau McCarthy.

Beautiful day for it.

Colin Wagstaff MICM and Sarah Bracegirdle MICM.

Brian Liao MICM looking for the right shot.

Phil Stevens and Derek Birkby.

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Orange Sky have staff in most locations but are likely to invite one of their female volunteers who can share passionately about their experiences with Orange Sky during our WINC luncheons nationally.

Our AGM is quickly approaching in August 2024 and we are always looking for members to contribute to our WA Division Council and

welcome visitors to attend the meetings to see what we do here at AICM Division Level. Many hands make light work and new ideas are always welcome! I hope to catch up with you all at the Young Credit Professional and Credit Professional of the Year Awards night directly following on from our AGM. If you have anyone in mind for either of these awards, please contact one of your WA Division Council members with the information, we would really appreciate it.

We have a Fraud Breakfast on the books for September which will be engaging, and a Christmas end of year get together in early December for awards and catching the Christmas Cheer! Watch for our WA Calendar folks! – Cheers from WA Division Council President, Cheri Bowater, MICM, CCE

Team 5: Rowan McClarty FICM CCE, Michael Zinn, Steven Lamb and Mat Van Veldhoven.

Team 4: Brad Hargreaves, Cameron Miller MICM, Mark Hewitt and Richard Brown.

Team 3: Bob Jacobs MICM, Paul Colkburn MICM, Hector West and Andrew Smith MICM.

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Golf Day

On the 10th of May this year, the AICM›s members again descended on the Collier Park Golf Course in Como. Being the second year of the event, and with golfing reputations on the line as well as bragging rights up for grabs, it was indeed a well attended event with 6 teams entering the fray.

According to the Bureau of Meteorology, it was going to be a short day with storms and rain expected. What we were greeted with was perfect partly cloudy weather with a bit of wind to adjust our targeting calculations. The Golf course was a very pleasant place to be on a Friday indeed.

The teams were provided with a quick lunch and were set off in order on the course every 10 minutes or so. The teams were to play Ambrose style with a minimum of 2 drives for each member across the 18 holes. The course itself remained difficult and rewarding with long par fives and tricky par threes along with perfectly fiendish placement of bunkers and water hazards. The drinks cart circulated throughout the day, kindly provided by NCI Brokers for the event, dispensing refreshments and advice as requested. Back at the clubhouse, a hot meal and an open bar were ready and waiting to receive the players after the gruelling day of contest.

Recall that we started off with a draw during last year’s inaugural event; this year the winners on the day were the NCI team, congratulations again, taking home prizes donated by Equifax. We look forward to the carry-over champions defending their crown next year. We’re sure that Auxilium Partners will be keen to wrestle back the title in 2025! Special thanks goes out to the WA AICM President, Cheri Bowater of Summit Fertilisers,

Team 6: Frank Khezovic, Brian Liao MICM, Derek Birkby, Phil Stevens, Colin Wagstaff MICM and Sarah Bracegirdle MICM.

team 2

Team 1: Geoff Geary, Beau McCarthy, Cheri Bowater MICM CCE and Dan Czaplinski MICM.

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for organising and running the event this year and also to Raffaele De Renzo of Noval Legal for reprising his role as chief photographer and drinks cart navigator.

The WA AICM council again thanks all attendees and look forward to seeing our members in next year’s event.

Risk & Insolvency Seminar

In a change to the events calendar for this year the Risk Seminar and Economic Breakfast presentation events were combined and held at the Doubletree by Hilton in Perth on 27 February.

A buffet lunch was served on arrival and we had the opportunity to have a chat and network prior

That water hazzard was a challenge.

Serious putting action.

Steven Lamb enjoying a spin in the cart with Michael Zinn.

Rowan McClarty FICM CCE enjoying the day.

Risk & Insolvency Seminar: Malcolm Field MICM, Nicholas Pilavidis FICM CCE, Cheri Bowater MICM CCE, Rowan McClarty FICM CCE, Amy Bayliss MICM and Raffaele Di Renzo FICM CCE

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to the formalities proceeding. The afternoon kicked off with a short Q&A discussion around the tables.

The economic presentation was delivered by Aiden Depiazzi of Deloitte Access Economics. Once again Aiden’s presentation was packed full of insightful information and highlighted the challenges facing the WA economy and the broader Australian economy this year, and how we are well placed to deal with them.

Nick Pilavidis, the AICM CEO, then presented the annual Risk Report, with information on risk and insolvency trends as well as emerging issues that credit professionals might face this year. This was followed by a panel discussion on legal and insolvency trends consisting of Amy Bayliss, Special Counsel at Turks Legal and Malcolm Field, Director at SV Partners, with questions posed by Nick Pilavidis.

The final session of the afternoon was a panel discussion on credit strategies and solutions for risks credit professionals might face. The panel consisted of Cheri Bowater, Credit Risk Manager at Summit Rural (WA) Pty Ltd, Rowan McClarty, Credit Manager at Fleetcare Pty Ltd, with questions by Raff Di Renzo, Director at Nova Legal.

Once the formalities were over, refreshments and snacks were enjoyed at the James St Bar and Kitchen in the hotel.

The Australian Institute of Credit Management welcomes our Partners for 2024 Divisional Partners National Partners Official Division Supporting Sponsors

Our National, Divisional and Professional Partners support and work with the AICM to promote the Institute’s activities, represent the Credit Industry and develop the careers of all Credit Professionals. As these organisations support your Institute and your Industry please consider them when you require assistance.

Risk & Insolvency Seminar: Aiden Depiazzi.

Risk & Insolvency Seminar: Nicholas Pilavidis FICM CCE and Jordan Longthorn MICM.

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President’s report

As we dive into the first quarter of 2024 after the holiday season, our calendars are brimming with activity.

February marked the successful kick-off of our event calendar with the VIC Risk and Economic Seminar. This half-day gathering provided a comprehensive overview of industry updates, fostering engaging discussions through open questions and interactive sessions. We extend a heartfelt thank you to CA ANZ for graciously hosting us. For a glimpse into the day’s proceedings, check out our photo gallery. Special thanks go to our sponsors and dedicated council members for their invaluable contributions to making this event a success.

March continued the momentum with the 18th Annual VIC Golf Day, a favourite among our community. We were blessed with favourable weather and an attendance of 80+. It was a great day for networking.

We invite you to explore our diverse lineup of events for 2024. The VIC/TAS council has been hard at work curating networking and development

sessions, both in-person and virtual, to cater to the diverse needs of our members.

We look forward to welcoming you at our upcoming events, fostering growth, learning, and connections within our vibrant community.

Golf Day

On the 15th of March we hosted the 18th annual VIC/ TAS Golf Day at the prestigious Southern Golf Club, where participants were treated to a day of perfect weather, camaraderie, and competitive spirit. Set

Onguard/UR Pay team – Joseph Bonvino MICM CCE, Jeff Hurst LICM CCE, Andrew Ruberto, Sava Trifunovic MICM

Joyce Gin taking out the ladies’ awards.

Perfect conditions for the Annual VIC/TAS Golf Day

Joseph Bonvino MICM CCE

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against the backdrop of lush green fairways and clear skies, the event brought together members of the credit management community for a memorable day of golf and networking.

The day gave everyone the opportunity for industry professionals to come together in a relaxed setting and showcase their skills on the golf course or in some cases dust of their unused golf clubs. This year’s event did not disappoint.

There was some fierce, yet friendly competition, “Team QBE” emerged victorious, displaying outstanding skill and teamwork throughout the day, finishing on a score of 54.875. Comprising of Dave Hall, Evan Cumming, Bill Famelos, and Anthony Naisis. Congratulations!

The runners-up of the tournament were “Team Langdon”, led by Paul Langdon and supported by Ian Grant, Chris Leeds, and Ali Dojen. Despite facing stiff competition, Team Langdon showcased exceptional talent and determination, narrowly

missing out on the top spot but earning a score of 55.875.

The success of the VIC/TAS Golf Day would not have been possible without the support of sponsors, volunteers, and organisers who worked tirelessly to ensure a seamless and enjoyable experience for all involved. A big thank you to Lou, Brian and myself for helping out on the day and thank you to Equifax – Naming day sponsor, IODM – refreshing drinks and CreditorWatch for those much needed Prawns.

Thank you to all our hole sponsors and we look forward to next years continued support.

– Michelle Carruthers

Risk Seminar

On 20th February, VIC held its annual Risk & Economic Seminar. A huge thank you to CA ANZ for the support of providing us a great space to learn and receive industry updates.

Mark Houareau MICM and Mary Petreski FICM CCE

Vic/Tas Annual Risk and Economic Seminar

Paul Canavan MICM CCE Mary Petreski FICM CCE and Tracey Rothwell MICM

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Our industry experts were not shy in sharing their insight and industry updates. It was definitely a jam-packed day, full of insightful information, no one went home empty handed.

We opened the Risk and Economic Seminar with a Credit Networking Forum; the room was buzzing. The mutual hot topic was the ATO and Default letters. No doubt  this topic will be in the spotlight for 2024.

We were fortunate to have Gareth Spence, Senior Economist at National Australia Bank, who took us through the recent economic trends, and shared valuable information regarding the state of the economy.  Gareth brought a calm and energetic vibe, very knowledgeable in his space and was able to answer difficult questions for all attendees.

Nick Pilavidis presented the Risk Outlook. Each year, Nick provides an exceptional rundown of the insights and key themes impacting the AICM and its members, and this year was no different.

Allan Kawalsky, Partner, Turks and Rachel Burdett, Partner, Cor Coris were our Panel speakers that formed part of the Legal and Insolvency session. Nick Pilavidis Asked the tough questions,

and the results were brilliant. Updates on court actions, Updates on the DPN’s, updates on the ATO’s debt. Information so valuable you had to be there. Both Allan and Rachel took the room by storm! A fantastic session.

Credit Risk Panel discussions led Melissa Mann MICM with Lilian Bougiouklis MICM, Marco Rossi, Tracey Rothwell.

Sava Trifunovic MICM, Katrina Bromley MICM CCE, Stephen Moloney MICM, Tony Mackwell LICM, Carole McTavish FICM CCE.

Rachel Burdett MICM Allan Kawalski MICM and Nick Pilavidis FICM CCE

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Lastly, our very own Melissa Man, Credit manager Visy Industries and 2023 Credit Professional Finalist, chaired a panel of experts across the credit industries. A tell all about the industry, what each professional were seeing in their space, their prediction and real life case scenarios. The open and engaging panel session brought the room to life with an overflow of questions raised by our attendees.

We also celebrated membership milestone moments: Mark Houareay, Optus 5 years, Paul Canavan , Simplot, 20 years & Tracey Rothwell, Rothwell Lawyers 30 years membership. Well done! – Mary Petreski

A great opportunity to celebrate membership milestones Prudence Chang MICM, 15 years and Lara Marney-Gatt 20 years.

Empowering Women through Education Success at Women in Credit (WINC) 2024

On Friday 3 May, we ascended to the highest level at the beautiful RACV Club to celebrate the 9th Victorian AICM WINC (Women in National Credit) event. The WINC theme this year is Empowering Women through Education and that we did. With a room filled with over 200 attendees, it was great to see so many familiar faces and new ones too. Our co-hosts Mary Petreski, divisional president and Michelle Carruthers, divisional board member, did a fantastic job as always and we all loved Mary’s little bell.

The day screamed elegance, education, and

Natasha Janssens, Keynote Speaker providing insights on what drives each of us to make the financial decisions we do.

Pavithra Venkatraman MICM

An afternoon of celebrating the women in credit.

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networking with likeminded people. When guest speaker Natasha Janssens took that stage, the audience was captivated. Her take on educating the women and men of the room in the importance of being financially independent as well as providing a positive relationship with money.

The charity partner for 2024 is Orange Sky. This incredible organisation supports 122,494 homeless people providing free mobile laundry and shower services. What a fantastic initiative indeed. With many thanks to our generous donors for both auction and raffle items, we were able to raise close to $6,000.00 which will be split 80% to Orange Sky and 20% to the AICM Education Foundation – another noteworthy cause for this year’s theme.

Our event would simply not be possible without our premium event sponsor, Equifax, as well as supporting sponsors National Credit Insurance (Brokers) and Results Legal. With many thanks also given to both National and Divisional Sponsors. But of course, the day simply would not be possible without the help and support of our divisional board members, specifically those that opted to be on the WINC Support board Michelle Carruthers MICM, Amanda Rothwell-Hiscock MICM, Prue Greenfield MICM, Sherif Hussein FICM CCE, Lou Caldararo LICM CCE, and Lilian Bougiouklis MICM and of course the National team.

We are all eagerly awaiting the Tasmanian WINC event approaching very soon and look forward to an even bigger and better 2025 WINC event.

– Amanda Rothwell-Hiscock

Member in Spotlight

Sam Chopra

Sam Chopra has been a successful credit and debt recovery analyst for many years, and is currently the debt recover analyst at Viva Energy. We sat down with Sam to get a little insight into his experience.

How did you get into credit?

My journey into credit began with my background in accounting. After completing a double degree in accounting and finance, I started my career as a graduate accountant, primarily working in tax compliance and financial analysis. While I enjoyed the technical aspects of accounting, I found myself yearning for more interaction and problem-solving opportunities. That’s when I

MC Mary Petreski FICM CCE, President VIC/TAS Council.

Showcasing the fantastic charity, Orange Sky Australia.

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stumbled upon an opening for a credit analyst position at Exxon Mobil. It seemed like the perfect blend of my financial expertise and my desire to work directly with people. I embraced the opportunity wholeheartedly, diving into the world of credit analysis and risk management. Over time, I honed my skills and gained valuable experience in evaluating creditworthiness, analyzing financial statements, and mitigating risks. Since then, I’ve been fortunate to continue my journey in the credit industry, working with various organisations and contributing to their success through effective credit management.

What changes have you seen over the years?

Over the years, I’ve witnessed significant changes in the credit industry, driven by advancements in technology, regulatory reforms, and evolving consumer behaviours. One of the most notable changes has been the increasing complexity of risk management. With the proliferation of digital transactions and the rise of sophisticated fraud schemes, businesses have had to adopt more stringent policies and procedures to safeguard their credit operations. We’ve seen a shift towards real-time monitoring and analytics, allowing organisations to detect and prevent fraudulent activities more effectively. Additionally, there’s been a growing emphasis on customercentric approaches to credit management, with businesses leveraging data analytics and predictive modeling to tailor their offerings and services to individual customer needs. Overall, these changes have reshaped the landscape of credit management, presenting both challenges and opportunities for professionals in the field.

What are the differences you’ve found between managing different types of debtors?

Managing different types of debtors requires a nuanced approach that takes into account their unique characteristics and circumstances. For example, when dealing with larger commercial

entities, such as corporations or industrial businesses, the focus is often on navigating complex legal processes and negotiating payment terms that are mutually beneficial. This may involve engaging with legal counsel, assessing collateral, and exploring alternative repayment options to recover outstanding debts. On the other hand, managing smaller debtors, such as small businesses, requires a more empathetic and personalised approach. It’s about understanding their financial situation, communicating effectively, and offering flexible solutions that address their needs while protecting the interests of the business. Regardless of the debtor’s size or industry, successful credit management hinges on building trust, maintaining open lines of communication, and fostering collaborative relationships that lead to positive outcomes for all parties involved.

Where do you go to keep up with Credit information?

Staying informed about the latest developments and trends in the credit industry is essential for professionals like myself. One of the primary resources I rely on is the Australian Institute of Credit Management (AICM). Through their seminars, workshops, and training programs, I’m able to stay updated on regulatory changes, industry best practices, and emerging technologies that impact credit management. Additionally, I regularly engage with industry peers, attend conferences, and participate in online forums to exchange ideas, share insights, and learn from others’ experiences. By actively seeking out opportunities for learning and professional development, I’m able to stay ahead of the curve and effectively navigate the ever-changing landscape of credit management.

What would you recommend to younger credit professionals to help them in their career?

For younger credit professionals looking to advance their careers, I would offer several pieces of advice. Firstly, invest in continuous learning

“With the proliferation of digital transactions and the rise of sophisticated fraud schemes, businesses have had to adopt more stringent policies and procedures to safeguard their credit operations.”

“Building rapport with customers, negotiating payment terms, and resolving disputes require effective communication and conflict resolution skills.”

and professional development. Take advantage of training programs, certification courses, and industry events to expand your knowledge and skills in credit management. Secondly, seek out opportunities for mentorship and networking. Surround yourself with experienced professionals who can offer guidance, support, and valuable insights into the industry. Thirdly, develop strong analytical and problem-solving skills. The ability to analyze financial data, identify trends, and make data-driven decisions is essential for success in credit management. Finally, cultivate strong communication and interpersonal skills. Building rapport with customers, negotiating payment terms, and resolving disputes require effective communication and conflict resolution skills. By focusing on these key areas, younger credit professionals can position themselves for longterm success and advancement in their careers.

What skillset do you think is most important for those looking to get further into credit?

In my experience, one of the most important skill sets for those looking to advance in credit management is strong analytical skills. The ability to analyze financial data, assess creditworthiness, and identify potential risks is essential for making informed decisions and mitigating losses. Additionally, effective communication and interpersonal skills are critical for building relationships with customers, negotiating payment terms, and resolving conflicts. Attention to detail, problem-solving abilities, and a customercentric mindset are also highly valued in the credit industry. Finally, a solid understanding of regulatory requirements, compliance standards, and industry best practices is essential for navigating the complex regulatory landscape and ensuring ethical conduct in credit operations. By

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honing these key skills, professionals can enhance their effectiveness and credibility in the field of credit management.

What do you love about your job?

What I love most about my job is the opportunity to make a tangible impact on the success of the business and the lives of our customers. Whether it’s helping a struggling business navigate financial challenges, recovering overdue debts, or implementing strategies to mitigate risks, every day presents new challenges and opportunities to make a difference. I enjoy the dynamic nature of the work, the opportunity to collaborate with colleagues and customers, and the satisfaction of achieving positive outcomes. Credit management can be challenging at times, but knowing that my efforts contribute to the overall success of the business and help support the financial well-being of our customers is incredibly rewarding.

The Australian Institute of Credit Management welcomes our Partners for 2024 National Partners

Divisional Partners

Official Division Supporting Sponsors

Our National, Divisional and Professional Partners support and work with the AICM to promote the Institute’s activities, represent the Credit Industry and develop the careers of all Credit Professionals. As these organisations support your Institute and your Industry please consider them when you require assistance.

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President’s Report

We trust you are all staying warm as we approach the winter season and prepared for end of financial year. We recently held our first combined Risk and Economic Seminar at Rydges World Square, and it was a success. Featuring insightful presentations from industry experts such as Mark Thirlwell Chief Economist of the Australian Institute of Company Directors, Daniel Turk from Turks and Andrew Blundell from Cathro Partners who presented an insight to the coming year and what they have been experiencing. We also had a panel of credit professionals which included Susan Day from Austral Bricks, Craig Storkey from Angle Auto, Miral Sarvaiya AMPAC Debt Recovery & Pieter Le Roux from Coates and headed by Andrew Tanna from Holman Webb who is also a NSW council member. Applications are now open for Young Credit

Professional (YCP) of the Year and Credit Professional (CP). The deadline for submission is the 3rd June, with interviews to follow shortly after. Winners will be announced at our awards night. NSW Council are working hard towards providing great events for our members. With our next event being WINC and Trivia night not long after. We have some great events coming up so stay tuned for more information.

– Sev Indrele MICM CCE, NSW President

NSW Risk Seminar

The 2024 NSW Risk Seminar took place at the Rydges, World Square in Sydney on 22 February. This year, the seminar was enhanced with an economic update and was hosted by our NSW President, Sev Indrele.

Miral Sarvaiya MICM, Anthony Stevanja MICM and Stefanie Ross MICM CCE.

Sev Indrele MICM CCE and Susan Day MICM CCE.

Mark Thirlwell from AICD presenting the Economic update.

The economic update was delivered by the esteemed Mark Thirlwell, Chief Economist at the Australian Institute of Company Directors. His engaging session offered a macroeconomic perspective to help navigate the risks of 2024.

A Legal & Insolvency update was presented by Daniel Turk MICM from Turks and Andrew Blundell MICM from Cathro Partners. Early data suggests that 2024 is shaping up to be a busy

Sev Indrele MICM CCE and Robert Byrnes MICM.

Miral Sarvaiya MICM, Anthony Stevanja MICM and Stefanie Ross MICM CCE.

Jacqui Dawson, Maree Royal MICM, Joey Henry and Sev Indrele MICM CCE.

Credit Risk discussion led by Andrew Tanna MICM.

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year for insolvencies, highlighting the importance of this update.

Our NSW Councillor, Andrew Tanna MICM from Holman Webb, moderated the Risk Panel discussion focused on Strategies and Solutions in Credit Management. The Risk Panel is always a highlight of the seminar, providing invaluable insights from industry experts. We extend our thanks to our panel participants: Pieter Le Roux MICM from Coates; Craig Storkey MICM from Angle Auto; Susan Day MICM CCE from Austral Bricks; and Miral Sarvaiya MICM CCE from AMPAC Debt Recovery.

The event provided a fantastic opportunity to collaborate and engage with leading minds and fellow professionals in the Credit Industry, a unique offering that only AICM can bring together. Looking forward to next year again.

AICM Members in Focus

Richard Gannon MICM

Please confirm your current position and the company you work for.

I am the Head of Credit and Collections at TPG Telecom.

Can you share your career journey with us?

I started my career at Telstra right after finishing school, initially working in sales and customer service roles. I was able to progress my career rapidly as there was a lot of different opportunities within Telstra at the time with over 100,000

“Working within the credit industry it’s important to engage with other industry members, bureaus, and suppliers to stay updated and take advantage of new services and technologies.”

employees working on a diverse range of functions. I gained experience in various areas such as Call Centre management, IT support, quality and benchmarking and credit management. In my 12 years at Telstra, I was also able to complete external studies in business and marketing and was also involved in major projects such as the implementation of a new CRM, creation of new call centre sites and the centralisation of the credit function, which provided me opportunities to work on the initial credit scorecard development and analysis and the management of debt that was referred for external collection.

In the late 1990’s I left Telstra and was employed by a mercantile agent RMG, I was able to use my call centre experience to help establish processes for collections call centre that used innovate technology that was not common within that industry at the time. I learnt a great deal from a very experienced credit management team headed by a former AICM President Bill Duncan and was where I first met our AICM president Nick. In 2000 I took a role at Baycorp as the Business Systems Manager, which was newly established business in Australia. In this role I was responsible for the collection system, reporting and onboarding of new clients, with an initial focus on tier one banking, utility and Telco clients. This was a TransTasman business, and a notable achievement was onboarding Australia’s biggest debt purchase from Telstra of over $300m and getting the collections team and process up and running in NZ.

I joined Vodafone in 2004 as the Credit Systems Manager, my team was responsible for managing the implementation of new system processes, reporting and acquisition scoring. During that time, we did two major collection system deployments and replaced our credit decision

system. I moved into the role of National Credit & Collections Manager and a couple of years later my role was made redundant as the credit function was relocated to Brisbane as an outcome of the Vodafone & 3 Mobile merger. I moved to Optus and started as the Credit Operations Manager for Virgin Mobile. I was immediately involved in the transition of the function to OPTUS and managed the implementation of new credit & collection systems. I spent the last 12 months at Optus acting as the GM of Group Credit, which had a high focus on financial reporting sand governance.

Following my time at Optus I joined Dun and Bradstreet in 2010 as the NSW State Manager and I also worked as a Director of Collection. I spent 5 years at DNB and worked with some fantastic credit professionals with many now in senior credit roles across the industry. DNB gave me great exposure to learn about a diverse range of credit functions as well as expanding my network within the industry managing several direct client relationships with our larger customers. I left DNB just prior to the illion change and joined News Corp in a Credit transformation role, this was a totally new industry and primarily B2B focused having a wide range of Media and Advertising clients I spent 2 years in that role before moving back to Vodafone in 2017 as Head of Credit & Collections.

This role was expanded with the TPG merger where I now oversee the credit and collections function for all brands within the group. I am working with a very experienced credit team and there is wide variety of credit functions that we manage to support the business. We have a continued focus on systems automation, reporting, stakeholder engagement, data management, fraud and credit scoring as well as supporting our customers with collections and hardship assistance; we have consumer & enterprise teams operating in Australia as well as Mumbai and Manilla.

What is your biggest professional accomplishment to date?

In my current role, we significantly reduced inbound calls by 60% by providing customers with real time payment solutions via automated messaging and some smart collection strategy changes. We have also implemented biometrics for identity verification; and while the solution is still

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evolving it has been groundbreaking in improving the customer experience by reducing identity fraud and manual data handling.

What advice would you give to emerging credit professionals?

Explore new opportunities and demonstrate your flexibility by being willing to take on more and different work; acknowledging you are not an expert but are keen to learn and develop is an asset. Be keen to embrace new technologies, measure trends and use data to manage and make informed decisions that you can stand behind. Working within the credit industry it’s important to engage with other industry members, bureaus, and suppliers to stay updated and take advantage of new services and technologies. Being aware of the regulatory landscape and changes that may impact you or your business is essential.

How long have you been a member of the AICM? I first became a member around 2000 and have been involved in various capacities, including judging the Young Credit Professional award and attending conferences. I encouraged one of my team members to apply in 2016 and she won the National award which was really pleasing to see her achievements recognised.

What has been a member of the AICM done for you? Being a member has allowed me to network with other credit professionals and stay updated on industry developments and changes in legislation. It’s been a valuable resource for learning and professional growth. It’s the only organisation that brings credit people together across may industries.

What are your favourite things to do outside of your profession?

Outside of work, I enjoy gardening, spending time with my family, going to the gym, traveling, and supporting the Bulldogs (NRL).

“Being aware of the regulatory landscape and changes that may impact you or your business is essential.”

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Treacy Sheehan MICM

Please confirm your current position and the company you work for. Founder and Director of Trace Personnel.

Can you share your career journey with us?

My fulltime career began in the world of footwear, selling shoes for Elle Effe Footwear, a female owned company (rare in those days) that sourced leathers from Italy and designed beautiful shoes right in Surry Hills. I started at an entry level role as receptionist, doing everything I could to learn the ropes of office management. This clearly led to my passion for beautiful shoes of which I own far too many!

Group, and this transition saw my career move into a direction of Recruitment. I began working at a PR/Sales recruitment company. Then took up working at DMS at Crows Nest with Ian Smallman.

I founded Trace Personnel in 2001 with Ian Smallman, a talented sales, credit/finance and recruitment professional, and Justin McMillan, our right-hand man. You would give Justin an image of what you wanted, and he made it happen with little or no budget. We grew from a small business at Bondi Junction to having 3 offices nationally and 25 staff and a commercial property in Surry Hills, right back full circle where I’d started at Elle Effe footwear.

Afterwards, I then transitioned to Banquet Events as Sales and Marketing Co-ordinator then to Manager at the Sydney Opera House, where I was trained in event management and enjoyed six fulfilling years. During that time, I completed a sales and marketing degree. The pure excitement of organising events/food/beverage and making it all come together at this iconic building, made it such a fabulous experience. I was mentored and managed by inspiring women. It was a wonderful time.

Following Sydney Opera House, I moved to a short stint at the Botanical Gardens Restaurant as their restaurant Maitre D/events person, where I found the work welcoming and enjoyable.

I then joined the launch of Luna Park, where I met Helen Tribe, who was an inspirational mentor, leaving a lasting impression on me of her strength and resilience. At Luna Park, I served as the Assistant Marketing Manager, overseeing the events and catering, including the launch party where I collaborated with Mode Group, a 5-star catering company that was unique in that it serviced all 5-star venues around NSW including Maritime Museum, Sydney Town Hall and the Australian Museum.

Subsequently, I joined Mode Group, which specialised in high-end catering at major museums, venues and facilities across NSW. The company was later acquired by the Spotless

GFC hit in 2009 and the recruitment industry took a large hit. Trace Personnel hit wobbly and uncertain times.

I purchased Ian’s share in 2011 and Justin followed suit in 2012, leaving myself as the sole Director. Trace Personnel is an ongoing successful business, that continues to thrive in interesting times always......

Today Trace focuses on recruitment in the credit industry, although we also provide generalist recruitment too. We work in the areas of contract, temporary, and permanent placements, spanning finance, sales, marketing, admin and legal. We work with Federal and State governments with their contingency workforce also.

Hospitality and catering is a passion of mine and when friends started Fresh Catering and Fresh Collective, after Mode Group days, I became a shareholder to this day. With a total of 15 years of experience in hospitality and marketing, I ventured into recruitment initially in the marketing /sales & PR industries in 1998.

What is your biggest professional accomplishment to date?

Starting Trace Personnel from scratch. I am proud to have created a company that fosters self-identity and provides staff with opportunities to grow and be nurtured in a safe environment. It’s fulfilling to see former employees excelling in their careers after they’ve moved on and maintaining firm friendships from when they worked at Trace Personnel. One of

Treacy Sheehan MICM

our first employees, Vicki Murphy, wrote something I’ll read to you from LinkedIn – ‘I loved loved loved working at Trace, my first office job and it felt like family! We were an amazing team! Treacy was and is a mentor to me. I remember the fun times, typing resumes and Ian was heaps of fun too, his money coins he hung behind his head for good luck –Justin, for his style and insight. I often think about Treacy, Trace Personnel and the impact you made in so many lives. A massive impact on my life is an understatement’.

I, as did Ian, and Justin mentored several staff over the years – it was for me fun and rewarding. I’d like to think we had an impact on people’s lives.

I’m proud of the fact we had fantastic staff and that I know, they have created a lot of lovely lasting friendships that continue now. Most of the time, the workplace was a fun and a happy place to work, but at the same we worked dam hard.

What advice can you give to emerging credit professionals?

My advice is to treat credit as a career, not just a job and I’ve said this many times over the span of knowing the credit industry.

The credit industry offers a wide range of opportunities in various businesses. Continuously learn, retrain, and enhance your skills. Don’t just wait for your manager to ask you to do things, get out and get networking yourself. Align yourself with specialists, mentors and stay connected through networking, and actively participate in industry organisations like the AICM. Embrace change, even when you get older yourself. Ask the hard questions as progress often involves stepping out of your comfort zone.

How long have you been a member of the AICM?

I have been a member of the AICM for about 23 years (am I really that old). I initially met Ian Smallman at a small company in Crows Nest, Debt Management Services (DMS Group) and he initially got me involved due to our focus on recruitment in the credit industry.

What has being a member of the AICM done for you?

Working with the AICM has opened doors to valuable connections and opportunities. Being a member of the AICM has connected me with many wonderful people who I now consider friends. It

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“Continuously learn, retrain, and enhance your skills. Don’t just wait for your manager to ask you to do things, get out and get networking yourself.”

has also provided me with opportunities to give back to the community of credit professionals. For example, I co-founded WINC (women in credit lunches) with Sue Day, Beth Gray, and Debbie Leo, which started from a dinner at Circular Quay and has been running now successfully and for many years, nationally.

How did you get involved in the NSW AICM Council?

At Trace Personnel, we wanted to give back to the AICM, so I initially started helping at functions with Beth Gray, it was a fun experience most of the time!

Now I run the NSW Membership and WINC portfolios and I’ve been on the council for many years and help organise events.

What has being on the Council of AICM done for you? Being on the council has allowed me to see inside the AICM and its workings, it has provided valuable connections and allowed me to be part of the journey of many young credit professionals. I’ve been on the panel for a lot of Young Credit Professionals (YCP) individuals at yearly judging time. I also love helping members navigate their way around what they should be doing, especially as new members.

It’s a rewarding experience to contribute to the development of the industry.

What are your favourite things to do outside of your profession?

Outside of work, I enjoy spending quality time with my son, Eamon, a feisty energetic 7-year-old. I enjoy being with friends, eating and drinking great food and wine, watching movies, streaming shows. I want to get travel back on the agenda and have my son meet his family in Ireland and USA. Pilates is a passion of mine though waned in recent years, I’m picking it back up. Doing the solo mum thing, running your own business and other factors that have occurred in last 9 years keep me VERY busy.

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AICM interview with the 2023 NSW YCP Winner Thomas Threlkeld MICM

Thomas was the NSW winner of the YCP in 2023, and our judging team unanimously agreed on his selection. A bright and capable young man, he demonstrated exceptional critical thinking and a deep understanding of credit far beyond his limited industry experience. Now, a year later, I wanted to check in on his career progression. It was gratifying to see that he has advanced with a new job and increased responsibilities. Additionally, it’s encouraging to see that he considers winning the YCP award as his biggest professional accomplishment to date, and that having it on the resume is assisting him in his career.

Please confirm your position and the company you currently work for.

Analyst in the Local Government Services Team at NSW Treasury Corporation

What has been your career journey so far?

My professional journey kicked-off during my third year of university whilst working on double degree in Business and Law. I secured an internship at Atradius which sparked my interest in credit and finance. While I enjoyed the theoretical aspects of law during my time as a paralegal, I found the dayto-day work less appealing. This realisation steered me towards the finance sector.

After two years of interning in underwriting, and as I was completing my studies a full-time role became available. I was offered the role and gladly

accepted. This was a smooth transition into fulltime work. I spent a total of five years at Atradius, where I progressed from undergraduate to a Senior Associate Underwriter.

I recently joined NSW Treasury Corporation in January 2024, and while changing roles always carries risks, I’ve been fortunate that it has worked out well. Despite the differences in the work, there are many similarities, particularly in financial analysis. I enjoy being the main point of contact for some councils, as it allows me to engage in a customer-facing role, which is quite rewarding compared to my previous mostly back-of-house role.

Our team is responsible for providing loans to NSW local councils on behalf of the Government. My role involves conducting credit assessments, due diligence, establishing loan servicing benchmarks, and more. It’s quite diverse, encompassing tasks like data entry, administrative work, and reviewing loan agreements. Additionally, I liaise with our internal legal team to ensure all legal aspects are in order.

What is your biggest professional accomplishment to date?

Winning the NSW Young Credit Professional (YCP) award stands out as my biggest professional accomplishment so far. Despite being a full-time professional for only three years at that time, the recognition was incredibly humbling. It opened numerous networking opportunities and allowed me to connect with people I wouldn’t have met otherwise.

What advice do you have for emerging credit professionals?

Be proactive and put themselves out there, not just for industry awards but also in their day-to-day work. Don’t be afraid to engage with other teams or pick up the phone. Personal interactions can be incredibly valuable. Networking events are also great for putting a face to a name. These all make subsequent communications much smoother when you know the person and understand where they are coming from.

How long have you been a member of the AICM?

I have been a member of the AICM for 1.5 years, having joined when at Atradius.

“Being a member of the AICM and winning the YCP award has provided me with invaluable networking opportunities and recognition.”

What has being a member of the AICM and winning the YCP award done for you?

Being a member of the AICM and winning the YCP award has provided me with invaluable networking opportunities and recognition. It has helped me demonstrate to prospective employers that, even at an early stage in my career, I am willing to take on challenges and put myself out there. The recognition from winning the award has also enhanced my resume and demonstrated my core credit skills.

It was a challenging and time-consuming process with interviews by a panel of judges. Anything worth doing is hard and a challenge. But if you can convince a panel of judges that you understand credit and get recognition through an award, it helps convince a future employer the same.

I recently moved into a new job and I think the YCP award stood out on my resume and the experience gave me an edge that my interviewer –now employer valued.

Why do you think the judges selected you for the YCP Award?

I believe the judges selected me for the YCP Award because of my ability to provide specific, real-world examples during the interview process. Trust that you can describe just about any the situation and the judges will understand and relate to it – they are credit experts.

Despite my limited experience at the time, I was able to showcase instances where I had gone above and beyond in my role.

What are your favorite things to do outside of your profession?

Lately I’ve been spending my time visiting open houses which has been pretty time consuming.

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When I’m free I enjoy exploring different cuisines as a foodie and engaging in physical activities like running and golf.

I’m also a sports enthusiast, particularly when it comes to the NRL Cronulla Sharks and cricket, and I have a fondness for classic movies, with Clint Eastwood being one of my favourite actors.

Thank you

– Gary Poslinsky. NSW Council.

The Australian Institute of Credit Management welcomes our Partners for 2024

new members

The Institute welcomes the following credit professionals who were recently admitted to membership between January, February and March.

New South Wales

Faisal Khaled Ahmed Rexel Electrical Supplies

Amanda Allen The Trust Keeper

Kamil Aydinlioglu Turks Legal

Sanjeev Bhandari Coates Hire

Lohit Bhetalam Ampol

Alicia Chapman The Mutual Bank

Lam Tat Linda Chu Atradius

Nicola Coombes Toyota Fleet Management

David Cope CNH Industrial Capital Australia

Cintia Coria

Sid De illion

Todd Field Graincorp

Rakhee Gadiya Lantrak Logistics (NSW) Pty Ltd

Loydalyn Gomez Coates Hire

Luke Graham Allianz Trade

Kyle Greenwood BDO

Damian Hoareau CNH Industrial Capital Australia Pty Ltd

Kelly Jones Vinidex

Cara Knight Toyota Finance Australia Ltd

John Lutherborrough AMPAC Debt Recovery Pty Ltd

Angie Menegazzo E.B Mawson & Sons Pty Ltd

Salvador Menor Bizcap

David Molesworth Green Marine Services

Nikki Noha Jaybro

Robert Norman CNH Industrial Capital

Joe O’Donoghue Creditorwatch

Josie Panapa Modern Star

Rebecca Partington CNH Industrial Capital

Nina Pearce BE Campbell

Ivana Potloka Transurban

Grishma Shah Lantrak

Emma Sherley Hyundai Motor Company Australia Pty Ltd

Magnesh Singh CNH Industrial Capital Pty Ltd

Jaime Smith REMONDIS Australia Pty Ltd

Junie Soe Atradius

Camille Stark CNH Industrial Capital Australia

Dhruv Sud Wisetech Global

Clare Thompson Turks Legal

Cecilia Tubungbanua REMONDIS Australia Pty Ltd

Hiten Vinchhi Manpower

Heidi Yi

Jason Young GSA Insurance Brokers

Queensland

Crystelle Biggs Iplex Pipelines

Callan Brown Results Legal

Shern Clark Atradius

Kathy Collins Iplex Pipelines

Laura Cook Iplex

Meghan Cooper Iplex Pipelines

Jessica Dawes Optimum Recoveries

Courtney Doyle Optimum Recoveries

Paul Hauff Findex Pty Ltd

Stacey Healy University of Queensland

Angela Hughes Cleanaway

Stephanie Koh Optimum Recoveries

Jeeho Lee Vincents

Joanne Lockyer Centurion Transport

Craig Mason SMS Law

Alison McKenzie Cor Cordis

Leroy Neilson Elders Rural Services Australia Pty Ltd

Fallon O’Sullivan Results Legal

Katarina Pikler Cleanaway Waste Management Ltd

Debbie Richards Dahlsens Building Centres Pty Ltd

Racheal Richardson Optimum Recoveries

Wolfgang Rubach Finance One

Angie Torenbeek CNW Pty Ltd

Kayla Trueman Commercial Credit Services

South Australia

Renee Carson SA Power Networks

Martine Cartwright Bendigo and Adelaide Bank

Aurora Corpus SA Power Networks

Jill Davies SA Power Networks

Wendy Denney Bridgestone Aust Ltd

Abby Elsom National Credit Insurance (Brokers)

Stephen Flamer-Smith Oracle Insolvency Services

Diana Fornasari SA Power Networks

Elise Herisz Elders

Michael Johinke Bendigo and Adelaide Bank

Chloe-Marie Leask SA Power Networks

Melissa Marden SA Power Networks

Sanette Susanna Page SA Power Networks

Paula Panozzo Centurion

Fiona Pawson illion Australia Pty Ltd

Monica Soncin SA Powernetworks

Rowena Uematsu SA Power Networks

Jolene Wakeling SA Power Networks

Dawn Wrangles Centurion

Victoria/Tasmania

Nadine Anderson Bendigo & Adelaide Bank Ltd

Nadine Anderson Bendigo & Adelaide Bank Ltd

Dion Appel Opypro

Jeli Dredge Transurban

James Dunn Reece

Sukanya Dutta Toyota Fleet Management

Carmel Fichera GWA Group

Gemma Fitzgerald Transurban

Linda Flinn PFD Foods

Marko Gebel BlueScope Steel

Marc Gemus Urbis

Inigo George Nutrien Ag Solutions

Vicki Glassborow OJI Fibre Solutions

Coedie Griffin Transurban

Keegan Guy BMW

James Hardiman PACCAR Australia Pty Ltd

Tim Hindson Transurban

Benjamin Jolley Bendigo & Adelaide Bank

Chavishke Karunaratna Mecwacare

Kanika Kumar Transurban

Callie Lee Haymes Paint

Malina Leu Adidas

Eva Loukas Adecco Australia Pty Ltd

Zoe Mannix Bendigo & Adelaide Bank

Sonia Nixon Opypro

Mariya Parvaresh mecwacare

Gudani Ralikhwatha Aon Australia

Angela Riolo Nutrien

Lana Shestakova Opypro

Diana Sullivan Haymes Paint

Sharon Walters BMW Financial Services

Abby-Lee Walters Transurban

Sohan Wijeyesakere PFD Food Services Pty Ltd

Xiangyu (Terence) Yu The Adecco Group

Western Australia/Northern Territory

Stephanie Brown Zipform Digital Ltd

Candi Dale-Coetzee Centurion Transport Pty Ltd

Brenda Doust Centurion Transport

Kurukulasuriya Fernando

Brian Liao Zip Form Digital Pty Ltd

Farren McPherson Capricorn Society

Noeline Myaing Centurion Transport Pty Ltd

Paul Saunders AMPAC Debt Recovery (WA) Pty Ltd

Krishma Sharma Centurion

Anatasya Soesilo Centurion Transport

Terri Starcevich Centurion Transport

Isabella Van der Wedden Centurion

Briana Wills Wesbeam Pty Ltd

Overseas

Lester Carlos Innovate Access Pty Ltd

Ivory Dela Cruz Innovate Access Pty Ltd

Kimberly Kan Ampol

Avalon Walker

Five reasons to become an AICM Member!

1 Industry news and insights

Members continue to be informed of the latest news in credit, regulatory changes and receive insights to best practice from leaders in the industry.

2

Complimentary registration to our webinar series

Members receive complimentary registration to our webinar series valued at over $300! The value from this member benefit alone covers the majority of your membership fee.

3 Discounts for all AICM activities

Receive a member discount for all AICM events and training courses. The more engaged you are with us, the more you’ll save and have your membership to thank for it.

4 Access to resources

Being a member will provide access to resources that will assist in navigating the ever-changing business economic and regulatory environment. This includes articles, reports, webinars and our quarterly magazine.

5 Be part of our professional community

Last but not least, join our growing professional credit community which has reached over 2800 members for the first time in the last 17 years! Interact with fellow credit professionals to build relationships and tap into credit management insights.

BONUS: More value for teams!

Do you manage or work within a team? AICM offer a group membership for organisations to enrol multiple employees as members at discounted rate.

To find out more about AICM Membership go

AICM Marketplace

Directory of services

and

COLLECTIONS

COLLECTIONS

AMPAC Debt Recovery

Level 5, 35 Clarence Street, Sydney NSW 2000

Tel: 1300 426 722

Email: info@4ampac.com.au

Web: www.4ampac.com.au

AMPAC Debt Recovery is a specialist debt collection practice supporting organisations around Australia and in over 180 countries worldwide. With decades of experience and global reach, AMPAC is a trusted partner to some of Australia’s highest profile private and public sector organisations. Call or email us to next time you are reviewing your debt recovery needs.

Divisional Supporting Sponsor

ARMA

Tel: 02 9154 7010

Email: info@armagroup.com.au

Web: www.armagroup.com.au/

ARMA is a specialist provider of contingent debt recovery solutions, outsourced accounts receivables and litigation services. ARMA was started with the aim to have fewer customers and provide better service. We provide big agency expertise with a boutique service.

CMA Collect

Tel: 07 3108 2840

Email: wbj@cmacollect.com

Web: www.cmacollect.com

Collections:

l Online commission free Mercantile demands

l Easy online referral option

l Full integrated

l Access to QCAT claims up to $25,000.00 (Fully funded T&C’s apply)

Credit Documents:

l Digital Credit Application via the CMA webpage

l Approval confirmation and DocSign authorisation

l Personal deed of guarantee from

l Data stored in the CMA webpage in a historical format

National Collection Services

Tel: 1300 888 758

Email: info@natcollection.com.au

Web: https://natcollection.com.au/

AMPAC Debt Recovery is a specialist debt collection practice supporting organisations around Australia and in over 180 countries worldwide. With decades of experience and global reach, AMPAC is a trusted partner to some of Australia’s highest profile private and public sector organisations. Call or email us to next time you are reviewing your debt recovery needs.

Commercial Credit Services

Tel: 02 9671 0400

Email: jamesvp@commercialcredit.com.au

Web: www.commercialcredit.com.au/

Commercial Credit Services Group is a professional debt collection agency that provides debt recovery services across Australia and New Zealand, working closely with our clients to understand their needs and provide the best solutions tailored to suit.

COLLECTION SYSTEMS

National Mercantile

Tel: 1300 096 407

Email: info@nationalmercantile.com.au

Web: www.nationalmercantile.com.au

National Mercantile are proud sponsors of the AICM. We have been providing quality debt recovery services for over 20 years. Our onshore team of professionals are highly experienced and are backed up by our in-house law firm. This means you’re in good hands when it comes to getting your debts paid! If you need any assistance managing your receivables portfolio, please reach out to see how we can tailor a strategy to meet your needs.

Divisional Supporting Sponsor

Tasmanian Collection Service

Tel: 03 6213 5555

Email: connect@tascol.com.au

Web: https://www.tascol.com.au/

With over 140 years’ experience, branches in Hobart, Launceston and Burnie and a database on the Tasmanian population that is second to none, there is no one better placed to handle your Tasmanian debts. Why not consider outsourcing to a local expert, you’ll be glad you did.

Esker Australia Pty Ltd

Suite 1502, Level 15, 227 Elizabeth Street, Sydney NSW 2000

Tel: 02 8596 5126

Email: info@esker.com.au

Web: www.esker.com.au

Cash is the heartbeat of your business, so give your AR department the tools they deserve! Esker’s AR solutions help companies reduce cost for invoice delivery, accelerate cash collection process and automate the reconciliation of payments. Contact us to easily achieve your cash collection goals, tackle root causes of payment delays and reduce collection disputes while improving customer relationships.

Spenda

Tel: 1300 682 521

Email: info@spenda.co

Web: https://spenda.co/

Spenda is an ASX listed company with over 20 years’ experience in delivering smart B2B software applications, flexible payment and lending solutions, and integration services that help improve the way businesses trade and get paid. Our solution enables businesses to transform with fast, error-free digital efficiency and aims to boost cash flow across the entire supply chain.

AICM Divisional Partner

AICM Divisional Partner

AICM Divisional Partner

AICM Divisional Partner

AICM Marketplace

COLLECTION SYSTEMS

OnGuard

Tel: 1800 123 613

Web: www.onguard.com

OnGuard’s Credit management solution will help you hit your collection targets – each and every month.

By working smarter and providing better visibility, OnGuard will help you reduce your DSOs. Why not give your staff a friendly solution that will make their life so much easier.

Contact us to show you how OnGuard has made life a whole lot easier for our customers.

Opypro

Email: partner@opypro.com.au

Web: www.opypro.com.au

Opypro is a single cloud-based platform that fully automates the end-to-end B2B credit management process. Multiple systems can be replaced by Opypro streamlining onboarding, providing real time access to business buyer account information and increasing payment success with consolidated invoicing, automated Dunning cycles and payment reconciliation. Contact us to see how Opypro can drive efficiencies across your trade accounts receivable process.

DISTRIBUTION & PRINTING

AICM Divisional Partner

Lane Communications

Tel: 08 8179 9900

Web: www.laneprint.com.au

Lane are widely regarded as one of the largest and most technologically advanced print production and distribution companies in Australia. We are an industry leader in digital and offset print, point of sale signs, complex embellishments and print finishing, storage, kitting and mailing. With innovation at our core, our services extend beyond transactional mail and promotional print production to include SMS, bulk email communications, and electronic billing solutions. Lane are your partner in print and multi-channel communications.

Building Industry Credit Bureau

Tel: 07 3852 1342, 1800 931 222

Email: bicb@bicb.com.au

Web: https://bicb.com.au

If your business supplies the building industry, we have industry-specific data that will raise your credit management decision-making effectiveness and perhaps prevent/minimise loss. We know you like to do your job well. Let us help you do it even better. For more info, call today.

CreditorWatch

GPO Box 276

Sydney NSW 2001

Tel: 1300 501 312

Web: www.creditorwatch.com.au

CreditorWatch is a leading commercial credit reporting bureau used by over 50,000 businesses across Australia. CreditorWatch offers a variety of products including customer monitoring/alerts, credit reporting, an indepth trade program and online credit applications to assist with customer onboarding and decisioning. Contact us today for more information or to organise a FREE DEMO of any of products.

AICM National Partner INFORMATION

Equifax

Tel: 13 83 32

Web: www.equifax.com.au

Equifax is a global information solutions company, providing data and insights that help organisations and individuals make more informed decisions. As a leading provider of credit information and analysis in Australia and New Zealand, Equifax serves key markets in risk management, marketing services and HR solutions.

Drawing from trusted sources to compile and process data, Equifax helps its customers see things and make connections that others can’t.

illion

Tel: 13 23 33

Web: www.illion.com.au

Renowned for our expertise in credit risk management, we pride ourselves in providing market leading products and services which securely store and analyse the unique data of millions of individuals and commercial entities. While we specialise in credit risk assessment and decisioning software solutions, we also provide a full suite of products that span the entire credit lifecycle. This includes lead generation and sales prospecting tools and receivables optimisation solutions.

INSOLVENCY

Divisional Supporting Sponsor

Insolvency Intelligence for Credit Managers

Tel: 1300 265 753

Web: www.jirschsutherland.com.au/ insolvencyintelligence/

Email: intelligence@jirschsutherland.com.au

Insolvency Intelligence: a specialist provider of insolvency and turnaround advice and services for credit managers. Backed by national firm Jirsch Sutherland, our friendly team is just a phone call or email away, providing members with practical, strategic advice about corporate and personal insolvency. Free initial consultation; networking opportunities; training and presentations; knowledge database access. Contact us now to find out how we could assist you.

AICM Divisional Partner

AICM Divisional Partner

AICM National Partner

AICM National Partner

AICM Marketplace

For information, options and pricing please contact Claire Kasses on +61 2 9174 5727 or E: claire@aicm.com.au

INSOLVENCY

Oracle Insolvency Services

Tel: 1300 391 330

Email: info@oracleis.com.au

Web: https://oracleis.com.au/

For those in financial difficulty we offer formal insolvency services, such as voluntary administration and bankruptcy alternatives, or devise turnaround strategies. For those that seek to recover value, we act as Liquidators, Trustees in Bankruptcy and Receivers of debtors. We maximise returns through our bespoke asset recovery strategies including, when needed, by pursuing litigation.

Vincents

Level 34 Santos Place, 32 Turbot Street

Brisbane QLD 4000

Tel: 1300 VINCENTS (07) 3228 4000

Web: www.vincents.com.au

Vincents is a firm of highly specialised experts delivering comprehensive insights into complex situations, enabling our clients to take control of decisions and get the best possible results. We cater for every business need where numbers are involved, including Insolvency & Reconstruction, Corporate Insolvency, Turnaround & Restructuring Solutions, Solvency & Investigative Reports, Informal Arrangements and Personal Insolvency.

LEGAL

Divisional Supporting Sponsor

LEGAL

Results Legal

Level 4, 183 North Quay

Brisbane QLD 4000

Tel: 1300 757 534

Web: www.resultslegal.com.au

Results Legal is a national firm with a focus on promoting and protecting the rights of trade creditors. Our clients are some of Australia’s largest trade credit companies who rely on our assistance for legal recovery, dispute resolution, preference claim defence and PPSA rights. Results Legal are the obvious first choice for companies seeking a national solution to resolve commercial disputes and pursue swift, successful and cost effective legal recovery action.

AICM Divisional Partner

Rothwell Lawyers

SV Partners

Level 8, 68 St George’s Terrace, Perth WA 6000

GPO Box 2527, Perth WA 6001

Tel: 08 6277 0026

Fax: 07 3229 7285

Email: perth@svp.com.au

SV Partners is a specialist accounting and advisory firm with 17 offices across Australia. Our expert accountants have the skills and experience to provide tailored insolvency, turnaround and advisory services. We partner with professionals and their clients, providing expert advice with a human touch.

AICM Marketplace

We’re proud of the AICM and we want to let all credit professionals know those businesses that support the AICM. Thank you to these companies for their continued support and please consider them first when you’re looking for assistance in your business. We’ll also include these sponsors on our website so you can be sure to find them easily.

For more information contact: Claire Kasses

Direct: +61 2 9174 5727

Email: claire@aicm.com.au

Tel: 1300 560 996

Holman Webb Lawyers

Tel: 02 9390 8000

Web: www.holmanwebb.com.au/

Email: christopher.hadley@holmanwebb.com.au

Holman Webb is a commercial and insurance law firm with over 60 years’ experience and the scale to provide a top-tier level of legal services. We deliver unique insights and bring relevant, real world experience to you from our offices in Sydney, Melbourne, Brisbane and Adelaide.

Tel: (03) 9329 3500

Email: admin@rothlaw.com.au

Web: www.rothlaw.com.au

At Rothwell Lawyers, we are a commercial team of solicitors and other legal support staff that are experts within our field. We pride ourselves on our ability to provide sound legal advice to individuals and businesses of all sizes, from sole directors and shareholder companies and large national corporations. Whether it is basic debt recovery, commercial law and litigation, insolvency advice to agreements and contracts, the team at Rothwell Lawyers can help you today.

AICM National Partner

Nova Legal

Level 2, 50 Kings Park Road

West Perth 6005

Tel: 08 9466 3177

Web: www.novalegal.com.au

Nova Legal can assist with the recovery of problem debtors (large and small). Founding director Raffaele Di Renzo acts for creditors, debtors, directors, credit managers and insolvency practitioners in relation to solvency issues and dispute resolution.

Turks

Tel: 02 8257 5700

Web: www.turkslegal.com.au

Contact: Daniel Turk

Turks is a specialist commercial law firm with 33 Partners and over 160 staff across our Sydney, Melbourne and Brisbane offices. We are proud to look after the interests of trade creditor suppliers and financial institutions in:

l Portfolio debt recovery using our marketleading, real-time client interface, ‘TurksFocus’

l Resolution of complex debt disputes

l PPSA recovery

l Defence of unfair preference claims

l Supply documentation and guarantees.

AICM Divisional Partner

AICM Divisional Partner

AICM Divisional Partner

AICM Divisional Partner

AICM Divisional Partner

For information, options and pricing please contact Claire Kasses on +61 2 9174 5727 or E: claire@aicm.com.au

RECRUITMENT

Divisional Supporting Sponsor

Byron Thomas Recruitment

Tel: 02 8677 3020

Email: info@byronthomas.com.au

Web: www.byronthomas.com.au/

As Sydney’s leading Executive Accounting and Finance recruitment service, we offer access to our exclusive relationships, networks and database of over 80,000 Accounting and Finance Candidates. We are a privately-owned Australian company that have been operating for over 10 years. We work with a variety of public, private, family owned and private equity-backed companies.

TRADE CREDIT INSURANCE

Divisional Supporting Sponsor

Aon Australia

Tel: 02 9253 7000

Email: barbara.cestaro@aon.com

Web: www.aon.com.au/australia/default.jsp

Aon is the world’s leading credit insurance broker providing innovative solutions against nonpayment risks, improving working capital and helping businesses to grow. Our deep experience across industries, investment in IT and network of credit specialists in 55 countries, provides us with the scale and expertise to deliver powerful solutions which enable businesses to identify and mitigate credit risks, sustain growth strategies with new and existing clients and optimise working capital and improve liquidity

National Supporting Sponsor

National Credit Insurance Brokers

Tel: 1800 882 820 (freecall)

Email: info@nci.com.au

Web: www.nci.com.au

National Credit Insurance Brokers (NCI) has established itself as the premier trade credit insurance broker in Australia, New Zealand, Singapore and Malaysia. Trade credit insurance is a highly specialised area of insurance and with its 35 years of experience, NCI has developed an unmatched depth of expertise in arranging the right protection at the best price for your particular trading needs.

Membership Renewal