Credit Management Australia August 2024 Edition

l Why PPSR Guidance is Needed During Insolvency Surge

l Strategies for Supporting Customers Facing Financial Difficulties

l 5 emerging trends impacting credit management teams ALSO IN THIS EDITION:

Our 2024 supporters

National partners

Divisional partners

Divisional supporting sponsors

Craig Brooks

Alex Caruana Elsa Markula

Malcolm Poslinsky

Eric Maisonhaute

Lisa Morrissey

Monika Lacey

Neill Borg Dion Appel

ISSN 2207-6549

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

REGISTER

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.

Editor, Level 3, Suite 303, 1-9 Chandos Street, St Leonards NSW 2065 or email: aicm@aicm.com.au

SA: Women in Credit Luncheon – Natasha Janssens

Vic/Tas: Brigid Nichols MICM with YCP winner Amanda Rothwell-Hiscock MICM and Michelle Carruthers MICM.

Qld: Stacey Woodward MICM CCE (Qld President) and Julie McNamara FICM CCE (National President).

NSW: Trivia Night: Keely Wynsch and Sev Indrele MICM CCE.

WA/NT: Natalie Medhurst, Nick Pilavidis FICM CCE, Cheri Bowater MICM CCE and Linda Sprlyan.

from the president

Julie McNamara FICM CCE National President

Hello everyone and welcome to the August edition of the AICM magazine.

Thank you for your continued support and renewed confidence in the Australian Institute of Credit Management. As we embark on the 2024/2025 calendar year, we are thrilled to see our membership base growing stronger. Your commitment to AICM is truly appreciated.

Our recent partnership with DecisionOK is an exciting development, and we eagerly anticipate connecting with DecisionOK, our national and divisional partners, sponsors and all our supporters at the upcoming National Conference in October. If you’ve never attended a National Conference before, this year is the perfect opportunity to experience it firsthand. The National Conference offers a unique blend of learning, networking, and inspiration. From insightful sessions to connecting with industry peers, you’ll gain valuable insights and create lasting memories.

Don’t miss out – register now and be part of an unforgettable event!

The Awards season is in full swing, and we extend our congratulations to all the divisional winners. The Credit Team of the Year Award promises to be a highlight,

with top-quality applications vying for recognition.

Equifax’s support for this initiative, along with our esteemed panel of judges – Debbie Leo from Equifax, Rhys Buzza from Reece, and Jane Hay from BGW Group – ensures a fair and rigorous evaluation process.

As we gear up for the National Conference, we encourage you to explore our newly launched ‘member only’ Special Interest Groups (SIGs). These SIGs provide a valuable platform for professional development and peer collaboration across seven niche topics. Dive deep into discussions, share best practices, and tackle the challenges of our field alongside fellow members.

Lastly, the WINC luncheon season is drawing to a close, and we’re excited to share the impact of our fundraising efforts for Orange Sky and the AICM Education Foundation. Join us for the final WINC webinar on October 23, 2024.

Once again, thank you for your renewed membership and unwavering support.

We look forward to a successful year ahead!

Julie McNamara FICM CCE National President

“The National Conference offers a unique blend of learning, networking, and inspiration. From insightful sessions to connecting with industry peers, you’ll gain valuable insights and create lasting memories.”

PROUDLY SPONSORED BY

The National Credit Team of the Year Award (CTOY) is an opportunity for credit teams to be recognised for the outstanding work, results, culture and learning they undertake.

Since 2008 the Credit Team of Year Award has recognised the outstanding culture, skills and achievements of Australia’s leading credit teams. Past participants rate this process as one of the most rewarding and fulfilling times in their careers when they take the time to reflect on their team’s achievements.

This year, we had some amazing applications from a diverse range of brands, and have narrowed the finalists down to the top 5, including:

Recoveriescorp: who in their application, described their team culture that is built on a foundation of transparency, collaboration, and mutual support.

Fletcher Building: who in their application, stated that they pride themselves on being subject matter experts in the credit, debt recovery and related systems space.

Metro Finance: who in their application, stated that they’re a small but mighty team, modelling their strength, values and achievements on their core values of Reliable, Resourceful, Results.

Cement Australia: who in their application, wrote about their natural curiosity for problem solving as issues present themselves, as true credit professionals that relish in the challenge of getting any issues resolved in a timely manner.

Randstad: who in their application, described their team’s exceptional communication skills and problem-solving abilities, enabling them to effectively collect payment.

These national finalists have won a $1,000 team development grant, and are now going on to prepare a 30 minute presentation to the judging panel to discuss how they have used the grant.

Following this process, two national finalists will be selected as nominees for the national winner.

Thank you to Equifax for supporting this award, and this amazing opportunity to celebrate the achievements of Australia’s leading credit teams.

2024 Credit Team of the Year

Enhance your credit career with online learning

Online courses offer a great opportunity for learners to experience a collaborative learning environment. Collaborative learning is an important way to help learners gain experience in interaction and develop important skills in critical thinking, selfreflection, and construction of knowledge which helps busy credit professionals.

In a collaborative learning environment, knowledge and understanding of the subject are shared and transmitted among leaners as they work toward common learning goals or a solution to a problem. Learners gain interactive experiences as they participate in discussions, search for information, and exchange opinions.

A high-quality collaborative learning environment provides learners with opportunities to engage in interactive and collaborative activities and to get better learning outcomes including the development of higherorder thinking skills.

For those who find this challenging, here are some top tips and great features to assist you in a smooth transition to online education with AICM.

“In a collaborative learning environment, knowledge and understanding of the subject are shared and transmitted among leaners as they work toward common learning goals or a solution to a problem.”

Plan your schedule

Planning is a great way to help you reinvigorate your motivation to study online. The best way to do this is to utilise an effective calendar system and create a study plan.

At the beginning of each week make a to-do list of everything you need to accomplish for the days ahead. Allocate time to each task and try to stick to this schedule. Not only will this implement self-discipline in your work, it will also allow you to prioritise your tasks in order of importance, an excellent skill to have when studying online.

Incorporating a consistent calendar into your learning habits is a great way to reduce anxiety within your studies, whilst improving your time management and organisational skills.

Review, revise and repeat

No one enjoys cramming a whole lot of work in one night, however it is a route most students take. Regularly revising sections within the course notes you have studied, will not only improve your memory, but it will also boost your understanding of the key credit concepts. A great way to maintain this is to revisit a subject or unit once a week.

Ask for help when you need it

It is important to ask for help, because you never know who else might be having the same problem. Ongoing feedback from your AICM trainer/mentor can be advantageous and may prompt you to ask any problematic questions.

Connect with other students

Sometimes when it is just you and your computer, the motivation is not always there. That is why it is important to stay connected

“Regularly revising sections within the course notes you have studied, will not only improve your memory, but it will also boost your understanding of the key credit concepts.”

and collaborate with your peers and AICM trainers regularly. A good way to do this is to utilise the learner forums, email and other social media platforms to remain connected.

Reward yourself for your achievements

It may not seem like a priority, but it is important to acknowledge your achievements when studying online. This promotes enjoyment and motivation in your learning ability. Looking after your mental health and wellbeing, begins with being proud of your accomplishments.

Create a work-life balance

It is essential to maintain a solid worklife balance. Too much of something, can often lead to you feeling overwhelmed and unmotivated. Spend time doing what you love and ensure that you make time for your health and wellbeing. Getting enough sleep, eating the right things, and setting yourself up to look forward to things can help improve your balance. Finding ways to escape from your daily grind will improve your overall functionality and motivation to get the best out of your learning!

AICM recent graduates

AICM would like to congratulate its recent graduates:

FNS40122 – Certificate IV in Credit Management

Hayley Hawke New South Wales Baiada

Classroom training calendar

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.

Sponsored by

2024 Young Credit Professional of the Year Congratulations TO OUR FINALISTS & WINNERS

Congratulations to our divisional winners and finalists!

The Young Credit Professional of the Year Award (YCPA) is the largest and most prestigious youth credit award in Australia and provides a unique opportunity for young credit professionals to gain recognition both for themselves and their employers. We are delighted to announce the winners of the VIC/TAS, QLD, NSW and WA winners and recognise the incredible talent and high calibre of all the 2024 finalists. Our SA winner will be announced at the upcoming SA Awards Night on 29 August.

SOUTH AUSTRALIA

Finalist’s comments:

Elizabeth Dobbie MICM (CLIENT SERVICE OFFICER, NCI)

Elizabeth spoke well, and shows she is organised and passionate. She shows a passion for credit and helping people through her role, and shows a passion for learning and growth. Elizabeth gave detailed responses and brought great energy and preparation to her interview.

Hudson Pitt MICM (OPERATIONS MANAGER, POLYGON GROUP)

Hudson showed that he is a team builder, with great knowledge, and understands challenges well. Hudson was engaging and poised, very mature, and knows his role inside and out. Hudson provided very detailed answers and has a clear passion about his role.

Jamie Mead (INSOLVENCY ANALYST, ORACLE INSOLVENCY SERVICES):

Jamie was very bubbly, confident and relaxed. She has a great deal of life experience, having studied and played baseball in Florida. Jamie is very natural and personable.

Winner to be announced at the SA Awards Night on 29 August 2024

WESTERN AUSTRALIA

Finalist comments:

Greg Laycock (INSURANCE BROKER, NCI)

Greg was super articulate, and had a strong understanding of credit and receivables, management functions and principles and had a confident and personable manner.

Lucas Henley MICM (BUSINESS ANLAYST & USER ANALYST TESTER, FAIR GO FINANCE)

Lucas is extremely knowledgeable in all areas of credit and receivables management. Lucas is a very smart individual and has a wealth of knowledge.

Winner comments:

Greg presented very well with confidence beyond his years. WA is extremely proud to have Greg represent the division at the National Finals. Congratulations Greg Laycock. AND THE WINNER IS: Greg Laycock

Congratulations TO OUR FINALISTS & WINNERS

Sponsored by

VICTORIA

Finalist comments:

Amanda Rothwell-Hiscock MICM (PARALEGAL AND LAW GRADUATE, ROTHWELL LAWYERS)

Amanda has shown tenacity in progressing in her career, having started as a legal receptionist, then completing courses and progressing to work as a paralegal. She has since gone on to complete many areas of practice including instructing counsel, debt recovery matters, and managing her own client base. Amanda had solid responses to the judges’ questions and was very well-spoken. Amanda was confident and showed her passion to bring a young perspective to the credit profession.

Annabel Darvall (PERFORMANCE MANAGER, RECOVERIESCORP)

Annabel is an experienced people manager with a strong background in strategy, compliance and client management. She is adept at sourcing and producing actionable trend-analyses to support process improvements, and has a proven record of meeting and exceeding performance targets. Annabel showed a passion for credit and creating a safe space for clients. Annabel was confident and presented good answers to the judges’ questions. Annabel clearly enjoys the challenges of the credit profession, and is sure to have a long and bright future in the industry.

Eloise Cowan MICM (CLIENT SERVICE MANAGER, NCI)

Eloise is a hard-working, enthusiastic and proactive individual, a fast learner, and a strong team player, presenting professionally and communicates confidently with ease. Eloise demonstrated that she is a passionate and energetic professional and is driven for her future. Eloise showed that she is passionate about the community through her role as Team Leader of the Sustainability Team and believes in building good relationships with debtors and has future aspirations of becoming a Certified Credit Executive.

James Short MICM (CREDIT & NEW ACCOUNTS TEAM LEADER, REECE)

James is a dedicated, hardworking person with a background in banking and finance, which has allowed him to transition into credit with a wealth of knowledge. James showed that he is a forward-thinking credit professional and had strong industry knowledge. James has great life experience, having worked in London for a year. James showed that he is keen to become more involved with the AICM and would be a great asset to the association.

AND THE WINNER IS: Amanda Rothwell-Hiscock MICM

Winner comments:

Amanda was confident and approachable and is sure to be a great mentor for future young credit professionals. Her objective is to continue to pursue the best standard she can, and the judges are confident that she will continue to do this when she progresses to the national finals. Congratulations Amanda Rothwell-Hiscock.

2024 Young Credit Professional of the Year

Sponsored by

Finalist comments:

NEW SOUTH WALES

Shaun Ellem (CLIENT ACCOUNT EXECUTIVE – TRADE CREDIT SOLUTIONS, AON)

The judges commented that Shaun had a true understanding of exceptional customer service and had great empathy for assisting his clients. Shaun was confident and chatty through his responses to the judges.

Maja Dunimaglovska MICM (CLIENT ENGAGEMENT MANAGER – EQUIFAX)

The judges commented that Maja had great engagement and showed amazing professionalism. Maja’s responses to all questions showed her exceptional credit knowledge, along with her passion and empathy in assisting clients.

Jenn Doan MICM (RISK UNDERWRITER, ATRADIUS)

Jenn was at ease with the judges, and was able to demonstrate knowledge in her field. Jenn manages the Atradius Internship program, and it’s no surprise she was the Atradius Employee of the year in 2021.

Henali Kumar (CREDIT & COLLECTIONS ANALYST, TYRO PAYMENTS)

Henali is a quiet achiever and displayed great achievements in her current role. Henali was very impressive in her interview, and she was able to talk through her answers and talked about her experience. Henali showed empathy and great professionalism through her interview.

Arian Bahmiyari MICM (SOLICITOR, HOLMAN WEBB)

Arian greeted the judges with his infectious smile and settled in quickly for the interview. Arian talked through the judges questions and demonstrated good credit general knowledge and had great responses to every answer. Arian displayed an ambition to learn more in the credit industry.

Alexander McNeill-Bate (SENIOR RISK ANALYST, LUMI)

Alex entered the room and greeted the judges with a strong handshake. Alex presented with impressive responses to each question that the judges had for him. The judges were keen to hear his experience and innovations

Michael Grintzelis (CEO, AUSTRALIAN COLLECTIONS GROUP)

The judges commented that Michael has charisma, showed maturity and was able to give great insight on credit through his experience.

AND THE WINNER IS: Michael Grintzelis

Winner comments:

Young Credit Professional of the Year Congratulations TO OUR FINALISTS & WINNERS

Michael showed an openness to learn more in credit, showing his commitment to the credit industry. The judges can’t wait to see what Michael will bring at the national finals and are confident that Michael is a strong candidate.

Congratulations TO OUR FINALISTS & WINNERS

Sponsored by

QUEENSLAND

Finalist comments:

Saki Nojuri (CREDIT OFFICER, ENDEAVOUR FOUNDATION)

Working in credit in a not-for-profit organisation means walking a fine line of managing organisational and public expectations, while also performing a credit function. Saki impressed the judges with the level of care and consideration she applies within her role at the Endeavour foundation and presented as a personable candidate within the interview process.

Jasmine Law MICM (LAW GRADUATE, AGILITY LAW GROUP):

Jasmine was an impressive candidate, answering her questions clearly and succinctly while also being able to show a deep understanding that far outweighed her experience in the credit industry. Her plans for the future demonstrated a passion for credit beyond her current role and a desire to make a positive impact on the credit industry.

Caitlin O’Dwyer (BUSINESS IMPROVEMENT LEAD, COLLECTIONS & FINANCIAL ASSISTANCE, BOQ)

Caitlin illustrated a great depth of experience in the consumer credit industry during her interview, providing numerous examples of innovation that she has driven in her role.

Kimberly Ho MICM (LAW GRADUATE, AGILITY LAW GROUP)

Kimberly showed a high level of understanding during her interview discussing insolvency practices in great detail while also being able to extrapolate her experience to questions on the wider credit industry and economic factors with great success. She articulated her ideas well, demonstrating a considered nature to ensure she answered her questions to the best of her ability.

AND THE WINNER IS: Caitlin O’Dwyer

Winner comments:

Caitlin was incredibly impressive throughout her interview process. She was calm, collected, and confident with each question and answered thoroughly providing well thought out examples from her own experience. Her passion for the credit industry was obvious from the deep understanding she displayed and her ambitious plans for future career progression. The judging panel were also impressed with the high level of problem-solving skills she showed, helping to drive creative and innovative solutions to problems within the business. From the roll out of these solutions she was able to identify not only positive impacts, but also how to improve these processes further and how to better contribute to similar projects in future.

Credit Professional

2024 Young Credit Professional of the Year

Congratulations TO OUR 2024 WINNERS

2024 NSW YCP of the Year Award Winner Michael Grintzelis and Charles Kinsella from CreditorWatch

2024 Vic/Tas YCP of the Year Winner: Amanda Rothwell-Hiscock MICM with Andrew Hedge from CreditorWatch

2024 Qld YCP of the Year Winner: Caitlin O’Dwyer South Australian Winner

Jason Sutherlin MICM from Creditorwatch, WA YCP of the Year winner Gregory Laycock and WA Division President Cheri Bowater MICM CCE

Congratulations TO OUR FINALISTS & WINNERS

Sponsored by

Congratulations to our divisional winners and finalists!

The Credit Professional Awards provide the unique opportunity to recognise the experience, skills, professionalism, contribution, and dedication of accomplished credit professionals across Australia. We are delighted to announce the winners of the VIC/TAS, QLD, NSW and WA awards and recognise the incredible talent and high calibre of all 2024 finalists. Our SA winner will be announced at the upcoming SA Awards Night on 29 August.

SOUTH AUSTRALIA

Finalist’s comments:

Troy Hills MICM, BUSINESS SERVICE MANAGER AT TOTAL BUILDING SYSTEMS PTY LTD

Troy impressed the judges with his passion and his rapid career progression, which is a clear indication of his high level of skills and ability to learn quickly. Troy is a firm but fair leader, and is a great teacher of his team to improve efficiency.

Lisa Anderson FICM CCE, CREDIT & CUSTOMER SERVICE MANAGER AT COOPER’S BREWERY

Lisa showed the judges that she is a strong leader, led by the guiding principles of respect, passion, responsibility, consistency and care. Lisa has been a great asset to the SA Council in her roles as events chair, and has an open door policy with her staff. Lisa showed the judges that she is clearly passionate about her staff, and imparting knowledge on her staff to help them prosper.

Adrian Stewart MICM CCE, CREDIT MANAGER AT NATIONAL PUMP AND ENERGY

Adrian impressed the judges with his depth of credit knowledge, and the confidence and detail in which he communicated it. Adrian has many years of experience, and he clearly demonstrated the positive impact he’s had at National Pump and Energy in a relatively short time. He builds bridges between departments, and brings the whole organisation with him on the credit journey.

Winner to be announced at the SA Awards Night on 29 August 2024

WESTERN AUSTRALIA

Finalist comments:

Carole Aird MICM, GROUP CREDIT MANAGER, KEE GROUP

Carole demonstrated to the judges that she is always striving to improve, and the judges were impressed by the fact that she believes in making ongoing business improvements to align with the credit journey.

Melissa Sharpe MICM, FINANCE AND ADMIN MANAGER, TURNER ENGINEERING WA PTY LTD

The judges commented that Melissa is very analytical and improved aged receivables from 26% to 67% on-time payments. The judges were impressed by Melissa’s confidence and that she is always seeking advice and knowledge.

AND THE WINNER IS: Melissa Sharpe

Winner comments:

Melissa impressed the judges with her integrity, which shone through in her manner of speaking. The judges commented that Melissa is a person who seems to lead by example and is very level-headed. Her Good communication with Sales Department seems to be her strong point where she has been successful in getting customers back on track. She has improved the processes and brought her staff skill levels up with constant training and support.

2024 Credit Professional of the Year

Congratulations TO OUR FINALISTS & WINNERS

Sponsored by

VICTORIA

Finalist’s comments:

Tony Truong MICM, CHIEF CREDIT OFFICER, BIZCAP

Tony came with a proven history in commercial credit underwriting for industries in both secured and unsecured lending space. With experiences gained through working for large multi-national corporation and in a startup fintech, Tony is able to make sound commercial decisions weighing the risk versus reward model and executing solid commercial strategy. Tony demonstrated to the judges that throughout his career, he has been committed to bettering himself and his staff. Tony consistently looks for opportunities to coach and mentor and leads by example.

David Haysom MICM CCE, APAC REGIONAL PROCESS EXPERT, FUCHS LUBRICANTS

David is an accomplished professional with a proven track record, and brings a unique blend of skills and experience to the table through years of working in Credit Management across several Industry Sectors. His expertise lies in technology adoption, change management, team leadership, and fostering strong relationships. The judges were impressed by David’s passion for his role, through means such as riding along with sales, seeing customers, and going out the back to see how the manufacturing is done. David doesn’t accept the status quo, is a sounding board for his employees, and encourages his team members development.

Paul Canavan MICM CCE, APAC ACCOUNTS RECEIVABLE TEAM LEADER, SIMPLOT

Paul is experienced Credit Manager with a demonstrated capacity to turn around an organisations debtor’s ledger. Paul as a credit manager, has capacity to develop effective, highly motivated credit and collection teams. Paul presented extremely well, and is passionate about training his team. Paul also demonstrated that he manages successful delinquency arrangements.

Darren Tran MICM, HEAD OF RISK AND COMPLIANCE, MONEY PLACE

Darren leads the Risk and Compliance department at Money Place, ensuring adherence to regulatory requirements and internal policies. He oversees risk assessment processes and implementing risk mitigation strategies. Darren showed that he really gets behind his team to help develop them, however, also allows his team the space to work matters out on their own.

AND THE WINNER IS: Darren Tran MICM

Winner comments:

Darren impressed the judges through his demonstrated empathy for clients. The judges are really excited for Darren to bring his unique experience in his profession to the national stage, and his passion for his staff and empathy for his clients is something to celebrate.

Congratulations TO OUR FINALISTS & WINNERS

Sponsored by

NEW SOUTH WALES

Finalist comments:

Flourence Matimati MICM CCE, NATIONAL CREDIT MANAGER, VEOLIA ENVIRONMENTAL SERVICES

The judges commented that Flourence is a good all-round credit manager with a high level of credit knowledge and team management skills.

Frank Kemp MICM, COLLECTIONS FINANCE  MANAGER ANZ, IRON MOUNTAIN

Frank came with a great deal of experience, having achieved a Master’s Degree in Fraud and Financial Crime. Frank manages the implementation and ongoing execution of leading practice cash collection processes, and ensures that key stakeholder relationships are maintained and there is strong communication and interaction between key business unit stakeholders and Collections.

Shane Fink MICM, NATIONAL CREDIT MANAGER, SNAP-ON TOOLS

Shane Fulfills the role of a Credit Manager superbly with good credit knowledge and ideas, strong implementation and understands how to get the best out of his team.

Nikola Razmovski FICM CCE, CREDIT MANAGER, CREDIT MANAGER AT CALL

The judges commented that Nikola is Well qualified with comprehensive expertise and experience in all aspects of credit management

Susan Day MICM CCE, NATIONAL CREDIT MANAGER, BRICKWORKS BUILDING PRODUCTS PTY LTD

The judges commented that Sue presents well, has good experience, and projects a strong passion for credit.

Marie Fellows MICM CCE, CREDIT MANAGER, TRANSURBAN

The judges commented that Marie is a good communicator, and is able to manage and get the best out of a large team effectively.

Georgia Barbera MICM CCE, REGIONAL MANAGER CREDIT & ACCOUNTS RECEIVABLE, ARISTOCRAT TECHNOLOGIES AUSTRALIA

The judges commented that Georgia is an Excellent candidate with good knowledge and experience in all facets of credit management.

AND THE WINNER IS: Flourence Matimati

Winner comments:

The judges commented that Flourence is results-focussed, and can’t wait to see her bring this energy to the national finals, and is sure to make NSW proud.

Sponsored by

Credit Professional of the Year Congratulations TO OUR FINALISTS & WINNERS

QUEENSLAND

Each finalist demonstrated a profound love for their teams and a commitment to ensuring the voice of Credit is both heard and valued across the broader business landscape. Their ability to inspire and motivate those around them is a testament to their leadership and unwavering dedication to the profession. These remarkable women have not only embraced technology but have also shown an incredible appreciation for it, even in instances where their companies were not yet able to implement new tech solutions. Their forward-thinking mindset and adaptability highlight their commitment to innovation and excellence in the credit profession. Each finalist’s ability to balance technological advancements with team cohesion and business integration underscores why they are truly deserving of recognition as finalists for the Credit Professional of the Year award.

Finalist comments:

Monique Barton MICM, CREDIT MANAGER, ENDEAVOUR FOUNDATION

Monique exemplifies the spirit of collaboration and unity, operating seamlessly as one team with her colleagues. Her approach ensures that every voice is heard and valued, fostering a work environment where collective effort drives success.

Mary Owens MICM CCE, CREDIT MANAGER, CEMENT AUSTRALIA

Mary brings a wealth of experience and an abundance of heart to her role as a Credit Manager. Her deep love for her team is evident in her supportive leadership style, which cultivates a motivated and cohesive unit dedicated to excellence.

Maureen Greaves MICM CCE, FINANCE AND ADMINISTRATION MANAGER, HARRINGTON BOBCATS & EXCAVATION

Maureen is a pillar of adaptability and continuous learning in the credit profession. Her tech-savvy nature and comprehensive approach allow her to navigate and implement innovative solutions, making her an invaluable asset to her team.

Pauline Dey MICM CCE, HEAD OF CREDIT, BDO AUSTRALIA

Pauline stands out for her innovative mindset and her ability to harness the unique strengths of her team. She consistently introduces creative strategies that not only solve problems but also enhance the overall performance and morale of her colleagues.

AND THE WINNER IS: Mary Owens

Winner comments:

Mary brings a wealth of experience and an abundance of heart to her role as a Credit Manager. Her journey is as inspiring as her achievements; she initially started out as a chef, and transitioning into the world of credit was a significant change that she embraced and overcame with remarkable resilience and determination. Mary, your dedication, innovative mindset, and heartfelt leadership have not only earned you this prestigious award but have also set a remarkable example for all of us in the credit profession. Congratulations on this well-deserved recognition!

South Australian Winner to be announced at the Adelaide Awards Night on 29 August 2024

Sponsored by

2024 NSW CP of the Year Winner: Flourence Matimati MICM CCE

2024 Qld CP of the Year Winner: Mary Owens MICM CCE

2024 Vic/Tas CP of the Year Winner: Darren Tran MICM

WA Division President Cheri Bowater MICM CCE and WA CP of the Year winner

Melissa Sharpe MICM

Gain customers, grow revenue and manage risk in FY25

By Craig Brooks MICM*

As credit managers and risk professionals focus their thinking on the financial year ahead, illion has found a common theme emerging – everyone wants to gain customers, grow revenue, and manage risk.

Here are six questions we’re commonly asked by our clients, along with some insights to help.

1. How can I create a faster path to ‘yes’ for customer loan applications?

To accelerate approvals, prioritise quality data from the start. Align your sales, finance, and credit teams and ensure your customers are updated throughout the process. Effective risk assessment and a streamlined application process contribute significantly to a smoother experience.

How can I improve customer experience?

B2B clients expect the same

modern, straightforward experience as consumers. Ensure your processes are streamlined and user-friendly, while providing opportunities for personal interactions throughout. A friendly, communicative approach can make all the difference.

How do I stay on top of delinquency and late payments?

Monitor your customers proactively. Leverage both internal and external data to assess risk continuously. Utilising alert systems can keep you informed and ready to act before issues escalate.

How can I reduce my operational costs?

Focus on smarter, more efficient processes that enhance productivity without increasing headcount. Automate where possible but maintain your business’s risk profile. Choosing

“Effective risk assessment and a streamlined application process contribute significantly to a smoother experience.”

Craig Brooks MICM

the right data sources and using them effectively can yield significant savings.

How can I minimise fraud?

Balance applicant information with reliable external data sources. Be vigilant and alert in your decision-making processes to stay ahead of potential fraud while maintaining a high-quality customer experience.

How do I keep clients I’ve worked hard to get?

Provide great service and integrate external data with internal insights for a full picture. Using the right systems, filter this information into regular alerts to identify potential issues early and step in when needed. Doing this allows appropriate conversations that build stronger

client relationships and set you up for success.

For more information, or to have a conversation about how you can set yourself up for success this year, please don’t hesitate to contact me or one of the Account Managers at illion.

*Craig Brooks MICM Head of Growth illion

E: craig.brooks@illion.com.au

Disclaimer: The content in this article is provided by illion as general information and does not contain any form of professional, legal or financial advice. illion makes no representations that this content is correct, current or complete. illion owns (or has appropriate licences for) all intellectual property rights in this article

Why PPSR guidance is needed during insolvency surge

By Malcolm Poslinsky FICM CCE*

86% of credit professionals responding to a Credit Pulse survey conducted by Equifax say the greatest benefit of the PPSR is the increased likelihood of recovering goods or payments when customers become insolvent.

With insolvency rates rising 46% in the second quarter of this year compared with the same period the previous year, there is a new urgency to registering on the Personal Property Securities Register (PPSR).

For trade creditors or those leasing, hiring or financing equipment, PPS registrations are vital for securing your business interests during an insolvency. Without it, businesses risk losing millions to untraceable and unrecoverable assets or money during an insolvency claim.

This article explores case

studies demonstrating how businesses have successfully used the PPSR to recover goods or money when a customer goes bust. We simplify the process which ensures compliance with key PPSR timing requirements because let’s be honest, if it takes too long it will be too late or forgotten.

But first let’s look at the most recent insolvency trends, which are at their highest levels since the Covid-19 pandemic.

Insolvency trends

Increased operating costs, shrinking consumer spending and a tougher lending market has contributed to 5,961 insolvencies in the first half of 2024.

The construction and hospitality sectors remain the hardest hit, with insolvencies up 35% and 59% respectively in Q2 2024 compared to the

“With insolvency rates rising 46% in the second quarter of this year compared with the same period the previous year, there is a new urgency to registering on the PPSR.”

Malcolm Poslinsky FICM CCE

“Increased operating costs, shrinking consumer spending and a tougher lending market has contributed to 5,961 insolvencies in the first half of 2024”

same period the previous year. Insolvency rates for these sectors have grown faster than any other industry over the past four quarters.

These insolvency figures align with credit demand data, which shows that asset finance demand was particularly low in

Victoria and Queensland. This was due to lower enquiries from borrowers across a number of sectors – including hospitality and construction.

In Victoria, tight competition, decreasing demand and higher operating costs have contributed to major feasibility

challenges. Queensland is dealing with an increasingly tight labour market, partially driven by large infrastructure projects, which again is putting pressure on some operators. These are not factors that can be resolved quickly and the construction industry is likely to remain highly impacted by insolvencies for the foreseeable future.

The following case studies illustrate how EDX, a subsidiary of Equifax, has assisted companies in protecting their security interests when interacting with insolvency practitioners to safeguard creditor rights.

CASE STUDY #1: Air Conditioning supplier and insolvency practitioner align interests for optimal debt recovery

An EDX from Equifax client is facing a situation where they are owed over $600k by a customer who has recently become insolvent. Initially, the management team thought they would be writing off the debt. However, after a review of the relevant documentation and invoices, we identified approximately $180k worth of supplies that are likely to be classified as

accessions. These items can be repossessed even though they are currently attached to the property. Our client installed various components, including air conditioners, ducts, and compressors.

Notably, four large compressors are secured to the site with bolts, making them relatively easy to remove.

If a satisfactory negotiated payment isn’t achieved, nearly all items – except for the ducts – could be repossessed. Additionally, our client may be able to claim for the value of work completed, although this will depend on further discussions between the developer and the insolvency practitioner. It’s quite possible that will result in our client getting a payment for the ‘proceeds’ of what they have delivered at full value.

The good news is that both the insolvency practitioner and creditors are aligned in their interests. If the insolvency practitioner can successfully argue that the developer owes for the work done, our client could receive a significantly higher payment.

Our client’s senior leadership team initially underestimated the benefits of PPSR compliance. Fortunately, their credit team had been diligent about registering for PPSR over the years.

This foresight could prove invaluable; just one PPSR registration by the accounts receivable team could potentially save them hundreds of thousands.

CASE STUDY #2: Equipment finance company

fixes

2,000 invalid registrations

An equipment finance company engaged EDX from Equifax to review their 5,000 PPSR registrations. The review uncovered over 2,000 errors, many involving incorrect grantor information, which could lead to substantial financial losses in the event of customer defaults.

EDX conducted a thorough assurance review of the company’s PPSR registrations and provided a detailed report with recommendations for enhancing policies and procedures to better protect their interests. Although the company initially attempted to rectify the errors manually, a subsequent review a couple of years later revealed an additional 1,700 potentially invalid registrations.

To address these persistent issues, EDX advised the company to undertake a bulk remediation process, excluding low-value, lowrisk accounts to manage costs effectively. EDX recommended adopting the ESIS software for accurate new registrations, leading the company to use this tool to process remediation files and align them with internal records.

The EDX review also identified strategies to reduce costs related to registration duration and the number of listings per customer, which will enhance financial protection and operational efficiency.

CASE STUDY #3: Materials handling company recovers all equipment

A materials handling company encountered significant difficulties reclaiming rented equipment when two customers became insolvent, revealing errors in their PPSR registrations. Prior to reaching out to EDX from Equifax, this company completed 2,617 PPSR registrations on their own accord, many of which contained mistakes. When their customers went into administration, these errors prevented the recovery of equipment worth up to $800,000 each.

Realising the need for expert intervention, the company enlisted EDX for comprehensive PPSR support that included policy advice, managing bulk registrations and implementing ongoing processing using ESIS software to minimise errors and simplify operations.

An assurance review identified numerous mistakes in existing registrations, including incorrect selections and identifiers. EDX remediated these issues through a bulk upload of amendments and new registrations.

EDX established new processes to ensure all registrations were handled correctly and the materials handling company now manages hundreds of registrations, amendments, and discharges each month with ESIS software.

PPSR Survey results

Here are the key takeaways from the Equifax July Credit Pulse survey1, which asked credit professionals to share their opinions on the PPSR.

The majority of survey respondents (85%) regularly register on the PPSR, with a small minority doing so occasionally or not at all.

Two-thirds of respondents (66%) value third party assistance for optimising PPSR use and making it easier to integrate with other products and services, simplifying their workloads. 34% prefer to manage the PPSR themselves.

Sale of goods on credit is the predominant use of the PPSR by respondents (85%). Other transactions include secured loans, asset protection, personal or corporate guarantees, equipment on hire/lease and equipment finance.

The majority of respondents (86%) believe the No.1 benefit of the PPSR is to increase the likelihood of getting their goods back or getting paid when customers become insolvent. In second place (73%) is the opportunity to negotiate with insolvency practitioners as a secured creditor when customers go bust. Protection against unfair preferences is in third place at 59%.

Other benefits include the opportunity to achieve the number one ranking over other creditor’s claims (45%), protection over the business assets on lease/hire/bailment (25%) and preventing the sale of assets registered by serial number (16%). We prefer to manage the PPSR ourselves 3rd parties help us get the most out of the PPSR 3rd parties make it

What type of transactions does your business typically use the PPSR for? (Check all that apply)

What benefits do you believe PPSR offers? (Select all that are important to you)

Goods/money back after customer insolvency

Negotiate with insolvency practitioner

Achieve No.1 ranking over other creditors

Protection over assets on lease/hire/ bailment/consign Protection

Preventing sale of

Do you know what the prerequisites are in order to correctly register your customers? (Select all that you are confident in)

The majority of respondents (74%) believe that the PPSR has taken on greater importance in this climate of rising insolvencies. Only 26% report their view as unchanged and none of the respondents reported that PPSR as less important. It’s vital to know your company is using the PPSR correctly when searching the register or generating, amending or discharging registrations. Yet with the above chart showing ‘1’ as very confident and ‘5’ as very unconfident, it’s evident that most respondents were

As insolvency levels rise, how does this impact your view on the importance of the PPSR for your business?

On a scale of 1 to 5, how confident are you that your company’s PPSR is exactly right when you:

not confident this was the case. Timing may be a problem which can render your registrations on the PPSR largely worthless (see The Importance of Timing for the PPSR in the July AICM newsletter), so it is interesting to note that only 77% of respondents were confident in understanding timing requirements. A greater number were confident of other prerequisites like registration details (91%), documentation containing a security interest (84%) and grantor identification requirements (77%).

*Malcolm Poslinsky FICM CCE PPSR Specialist, EDX from Equifax M: 0401 991 917 E: malcolmp@edxppsr.com.au www.edxppsr.com.au

FOOTNOTE:

1 The Equifax July 2024 Credit Pulse Survey had 46 respondents.

About EDX EDX, an Equifax subsidiary, simplifies PPS registrations for businesses. With deep expertise in insolvency and credit management, EDX helps companies protect their security interests and negotiate with insolvency practitioners to safeguard creditor rights.

DISCLAIMER: This communication is provided for general guidance only and should not be construed as legal advice. As we are not lawyers this is not legal advice and we take no responsibility for any policy decisions.

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Value of business orders at record low; 12-month forecast for hospitality failures rises to 9.1%

By Anneke Thompson MICM*

CreditorWatch’s June results for its Business Risk Index (BRI) reveal a dramatic and concerning drop in the value of invoices held by Australian businesses as declining consumer demand forces cuts to inventory.

CreditorWatch has increased its 12-month forecast for hospitality failures to 9.1 per cent – one in 11 businesses –as conditions for consumers and businesses continue to deteriorate.

Business orders values at record low – down 49.9% YoY

The average value of invoices held by businesses has fallen 49.9 per cent over the year to June 2024 reflecting a drop in order values as businesses are forced to wind back inventory due to higher prices and declining demand in the economy.

Compounding this problem is rising invoice payment defaults, which have been trending up since mid-2021. This indicates

that businesses are finding it increasingly difficult to pay their suppliers despite lower order values.

Another of CreditorWatch’s key metrics, the business failure rate, is also deteriorating with an 8.8 per cent increase across all industries over the past 12 months.

One in 11 hospitality businesses to fail over next year

The outlook has worsened for businesses in the hospitality industry with CreditorWatch now forecasting the failure to increase from 7.5 per cent to 9.1 per cent –that’s one in 11 businesses.

This is well above the forecast for Arts and Recreation Services and Transport, Postal and Warehousing which are ranked second and third with forecast failure rates of 5.7 per cent and 5.5 per cent respectively. The average forecast for all industries in 5.1 per cent.

Hospitality has a significantly higher failure rate forecast

Anneke Thompson MICM

Average B2B value of invoices per data supplier

Data sources: CreditorWatch trade receivables data (accounting software integration)

Data source: CreditorWatch Business Risk Index

than other industries primarily because of its heavy reliance on discretionary spending, which has dried up as consumers tighten their belts to cover increases in mortgage payments, rents, power bills and other essentials.

More businesses unable to pay invoices

Business payment invoice defaults dipped from May to June but have been trending up since the middle of 2021 and are well above pre-COVID levels. Rising costs and declining

demand have conspired to squeeze businesses, making it more difficult to pay suppliers.

CreditorWatch has identified a strong correlation between a B2B payment default and the chance of a business failing over the following months. 

Economic Update

Other Key Business Risk Index insights for June:

l Court actions are trending strongly upward with a 37 per cent increase for the year to June 2024. They are now sitting well above pre-COVID levels.

l Credit enquiries dropped from May to June and remain flat across 2024, reflecting the subdued trading conditions in the Australian economy.

l Food and Beverage Services is the top ranked industry for outstanding ATO tax debts above $100,000, with a rate of 1.65 per cent. Construction and Electricity, Gas, Water and Waste Services are next at 1.18 per cent and 0.94 per cent respectively.

l Adelaide has the best performing capital city CBD by a considerable margin. It is

followed by Perth, Melbourne, Brisbane and Sydney.

l The regions with the lowest risk of business failure are concentrated around regional Victoria, inner-Adelaide and North Queensland. NorwoodPayneham-St Peters in South Australia, is the top-ranked region (3.48 per cent chance of default), followed by Unley, also in South Australia, and Ballarat in Victoria.

l The regions with the highest risk of business failure are around Western Sydney (six of the top 10) and South-East Queensland, with BringellyGreen Valley (NSW) the topranked region (7.63 per cent chance of default), followed by Merrylands-Guildford and Canterbury, all in Western Sydney.

We are now well and truly in the toughest phase of the monetary

policy cycle. The high cost of debt is compounding the problems wrought by inflation, that is still too high in some areas.

Monetary policy decisions usually lag what is happening in the broader economy, as data takes time to filter through to the RBA, and the RBA also wants to see a few months’ worth of data to be more certain that their decisions taken at board meetings are the correct ones.

While this approach is sound theoretically, in practice it means businesses have to endure high interest rates long after consumer demand has plummeted, and discretionary spending has significantly weakened.

CreditorWatch CEO, Patrick Coghlan, says conditions are becoming truly dire for Australian businesses.

B2B trade payment default index

Data Sources: CreditorWatch Trade Payment default data (lodged defaults)

“The combination of declining order values and increasing payment defaults is a major concern as it indicates more businesses are experiencing both cost and demand pressures,” he says.

“With another rate increase becoming increasingly likely, we expect both metrics to deteriorate even further.

“It is small businesses that are hurting the most as they are more vulnerable to adverse economic conditions than larger businesses. They operate on tighter margins and are less able to take measures to cut costs.”

Outlook

CreditorWatch’s Business Risk Index June 2024 data indicates that monetary policy settings, combined with continued rising prices in the services, utilities and insurance sector and record low consumer confidence are having severe negative impacts on Australian small businesses.

The impact is not spread evenly through the economy –areas with younger populations and businesses in the hospitality sector have been hardest hit. This trend will continue well in to 2025, which is the earliest realistic time we

can expect the RBA to have cut the cash rate a few times.

As a result, businesses will fail at an alarmingly high rate, and it is inevitable that unemployment will rise, albeit off a low base.

Low unemployment and good job security has been one of the few positives that Australian households have benefitted from over the past few years and, sadly, it looks like even these positive measures will soon come to an end.

*Anneke Thompson MICM Chief Economist CreditorWatch www.creditorwatch.com.au

“Hospitality has a significantly higher failure rate forecast than other industries primarily because of its heavy reliance on discretionary spending, which has dried up as consumers tighten their belts to cover increases in mortgage payments, rents, power bills and other essentials.”

Update from across the ditch: Cost-of-living crisis continues to influence New Zealand credit trends

By Monika Lacey MICM*

Times are undoubtedly tough for both Kiwi businesses and consumers alike as the costof-living crisis and tough economic conditions to bite.

In a positive sign however, inflation eased in New Zealand to its lowest level in three years at the midpoint in July, with the consumer price index (CPI) increasing by 0.4% over the three months ending in June.

Meanwhile, the annual inflation rate decreased to 3.3% –

down from 4% – the lowest since June 2021, but still above the Reserve Bank’s target.

At present, economists across the country have mixed predictions on the chances of an early reduction in interest rates.

When looking at consumer and business credit insights, a mixed picture also emerges.

Overall arrear volumes eased in June, with 465,000 people behind on payments, down 9,000 month-on-month, but still

Consumer Arrears Trends

Monika Lacey MICM

up 9% year-on-year. Consumer arrears are stable with only slight month-to-month changes.

However, consumer utility arrears have worsened over the past year due to economic tightening, and the cost-of-living crisis coupled with the cooler winter months.

Mortgage delinquencies improved in June, with 21,500 home loans past due, down 500 from the previous month, but still 11% higher year-on-year.

Financial hardships rose 27.7% year-on-year, with 13,500 accounts in financial hardship, nearly half related to mortgage payments.

New lending trends showed consumer credit demand flat compared to 2023 but 4% below the long-term average. Approved new mortgage lending increased by 7.7% year-on-year in June, while new non-mortgage lending decreased by 13%.

Business credit insights revealed a 19% increase in company liquidations over the past year, especially in the construction and property sectors.

In fact, Q2 2024 saw the highest quarterly total of company liquidations (93) in over 10 years, with property company liquidations increasing by 28%.

Overall, consumers have fared better than businesses in Q2, with stabilising arrears despite year-on-year increases.

Businesses, however, have faced significant challenges, as indicated by the recent increase in liquidations, reflecting a New Zealand economy struggling in the face of the cost-of-living crisis.

Utilities: Proportion of Accounts in Arrears

Consumer Arrears Trends by Days Past Due

Home Loan Arrears

Economic Update

Credit Card & Auto Loan Arrears

Arrears stabilise overall, yet utility costs cut deep When looking at Q2 as a whole, arrears have stabilised overall, with the number of consumers behind on their payments down 9,000 month-on-month to 465,000.

Turning to product types in particular, arrears have improved for most, excluding retail energy (utilities) and auto loans, which are up 30% and 4% respectively year-on-year.

Worryingly, however, utilities arrears have worsened over the last 12 months sitting at 4.4% compared to 3.4% for the same period last year.

This is an indication of Kiwi households falling behind on their power repayments in winter and struggling to heat their homes.

Within this arrears sector, early arrears (less than 30 days past due) have increased the most over the last 12 months (up from 1.9% to 2.7%). Furthermore, 30+ days arrears at 12 months on the books, have also risen from 2.2% to 3.3% since the beginning of 2020.

This paints a concerning economic picture and indicates an increasing number of Kiwis are struggling to pay their heating bills during the tough winter months amid the ongoing

cost-of-living crisis.

Mortgage delinquencies improved in June, with 21,500 home loans reported as past due, down 500 from May.

However, mortgage accounts past due are tracking 11% higher year-on-year, despite residential mortgage arrears reported in arrears falling to 1.44% in June, which is comparable to 2019 levels.

Furthermore, credit card arrears also dropped to 4.1% in June, the lowest reported arrears level since September 2022, while vehicle loan arrears rose by 0.2% compared to June last year.

Consumer non-mortgage lending down

Non-mortgage lending is down 13% in the June quarter compared to the same time period last year.

Meanwhile, new residential mortgage lending for the June quarter was 7.7% higher than the same period last year, but still 35% lower than the same period in 2021 during the property market boom.

Reports of financial hardship increase

There has been a 28% increase in financial hardship reports yearon-year, indicating more and more borrowers are seriously falling behind on their debt repayments.

The proportion of credit application enquiries returning financial hardship alerts has risen to 0.5% for the first time since August 2020.

Of all financial hardship cases, 45% relate to mortgage payment difficulties, with 29% and 18% relating to credit card debt

New Consumer Lending (Indexed to 2019)

Economic Update

Annual Change in Financial Hardship Cases

Financial Hardship by Product Type

Note:

and

Business credit demand, defaults and liquidations

Business credit demand is up 11% year-on-year, with credit demand rising 17% for the property sector and 15% for hospitality over the last 12 months.

Business credit defaults are up 5% year-on-year overall, with the transport industry up 18%, closely followed by the construction sector defaults up17%, indicating the sector is experienced prolonged economic pain.

Overall, only the hospitality sector saw credit defaults fall, showing a decrease of 6% yearon-year, which could suggest slight signs of improvement.

Company liquidations across the country are up 19% yearon-year in June, in another distressing sign for the New Zealand economy.

Of all the country’s company liquidations, 24% (156) came from the construction industry, whilst 14% (93) originated from the property sector – with

both industries bearing the brunt of the cost-of-living crisis and consumers increasingly tightening their purse strings.

Looking ahead

With the cost-of-living crisis continuing to impact Kiwi consumers and businesses across most key credit markers, all eyes remain on the

government and the Reserve Bank to see what they will do to help ease the economic pain being felt by many.

The announcement of New Zealand’s official cash rate (OCR) in mid-August will provide some clarity on the direction travel regarding national inflation rates.

Beyond the uncontrollable, it’s important that New Zealand

households and businesses seeking to effectively plan for their future seek out advice early to best safeguard their financial wellbeing from the current tough economic conditions.

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

Company Liquidations Up 19% YoY

NZ Company Liquidations by Industry

Bankruptcy reforms announced

By Lisa Morrissey*

Proposed reforms to Australia’s bankruptcy system were announced by the Attorney General in July 2024. It is said that the objective of the reforms is to “ensure Australia’s bankruptcy system is fairer and operates in the best interests of all Australians” 1 .

The key changes to be introduced are:

l increasing the threshold for creditor petitions from $10,000 to $20,000 (with the threshold to also be indexed each year);

l increasing the timeframe for compliance with a bankruptcy notice from 21 days to 28 days.

l reducing the period a discharged bankruptcy is publicly recorded on the National Personal Insolvency Index to 7 years following discharge (currently the listing is permanent)

l removing the proposal or acceptance of a debt agreement as an act of bankruptcy under the Act.

There is no immediate proposal to shorten the automatic discharge period of bankruptcy from 3 years to 1 year, however this is something that has been continually flagged as a potential change so is expected to be looked at more closely in the future.

The government has also announced a consultation process to be commenced on a Minimal Asset Procedure, which is based on a similar regime which currently exists in New Zealand. The concept is designed to “clear a person’s debts and allow a fresh start sooner than a bankruptcy”

The process would last for 12 months with a 4 year post discharge public listing on the NPII.

The regime would be available to debtors who:

l have maximum debts of $50,000 or less

l have no more than $10,000 in assets (with an exception for tools of trade and a vehicle”

“There is no immediate proposal to shorten the automatic discharge period of bankruptcy from 3 years to 1 year however this is something that has been continually flagged as a potential change...”

Lisa Morrissey

A maximum income is yet to be determined. The process would only be available once to debtors.

The “no asset procedure” (NOA) has been in place in New Zealand since 2007. It is available to debtors who owe less than $50,000 with no assets available. In the financial year 2022/2023, 476 applications were accepted under the New Zealand process. In 2023/2024, 413 applications were accepted2. Approximately 24% of applications made were rejected (presumably as not meeting the eligibility requirements).

The regime, similar to the small business restructuring regime introduced in 2021, is designed to offer debtors with

“The government has also announced a consultation process to be commenced on a Minimal Asset Procedure, which is based on a similar regime which currently exists in New Zealand.”

minimal debts a fresh start without the cost of formal bankruptcy which often result in minimal return to creditors and are costly to administer. It is suggested that it will have minimal impact on creditors who would likely not have received any return in a formal bankruptcy scenario and reduce overall administration costs which are borne by the Australian Financial Security Authority.

*Lisa Morrissey Turks

T: (02) 8257 5721

M: 0417 236 786

E: lisa.morrissey@turkslegal.com.au www.turkslegal.com.au

FOOTNOTES:

1 Media release www.ministers.ag.gov. au/media-centre/bankruptcy-lawreforms-08-07-2024

2 www.insolvency.govt.nz/about/ statistics/insolvency-procedurestatistics/no-asset-procedurestatistics

simple ways to reduce DSO & improve cashflow

A pragmatic guide for proactive AR leaders

By Eric Maisonhaute MICM*

Introduction

What’s at stake

AR department

On paper, accounts receivable (AR) is a simple process: Services are rendered, invoices are sent and payments are received. However, the reality is far more complex, as today’s AR teams must perform their job facing a barrage of operational inefficiencies, external pressures, emerging technologies, and a set of ever-evolving customer and employee expectations.

propelled AR teams into a more strategic role within the enterprise – acting as lead navigator of cashflow and other financial challenges.

Yet, despite 8 out of 10 businesses seeing AR as “more crucial” to company success in recent months, less than half of them (44%) believe their AR teams have the skills, tools and resources needed to contend in the current landscape.1

disruptions in supply-chain dynamics, interest rates and economic outlooks have propelled AR a more strategic role within the enterprise — acting as lead navigator of cashflow and other challenges.

of high DSO

This article aims to give AR and Finance leaders some much-needed clarity to their challenges and five practical strategies for addressing them – all with the goal of reducing DSO, improving cashflow and empowering every stakeholder, from Collections Specialist to Office of the CFO.

despite 8 out of 10 businesses seeing AR as “more crucial” to company success in recent months, half of them (44%) believe their AR teams have the skills, tools and resources needed to contend current landscape.1

What’s at stake

of AR teams are behind schedule on collections1

tried-and-true barometers of a business’s AR performance and financial well-being is Days Outstanding (DSO). Not only does DSO measure the average number of days it takes to collect from customers after a sale, reflects important customer information (satisfaction levels, payment patterns, creditworthiness, etc.) that helps inform decision-making.

The new AR department

consistently high DSO can have many unintended consequences, including:

Eric Maisonhaute MICM

that lower a business’s liquidity and prohibit future growth investments

Ongoing disruptions in supplychain dynamics, interest rates and economic outlooks have

The cost of high DSO

One of the tried-and-true barometers of a business’s AR performance and financial wellbeing is Days Sales Outstanding (DSO). Not only does DSO

“Ongoing disruptions in supply-chain dynamics, interest rates and economic outlooks have propelled AR teams into a more strategic role within the enterprise – acting as lead navigator of cashflow and other financial challenges.”

measure the average number of days it takes to collect from customers after a sale, it also reflects important customer information (satisfaction levels, payment patterns, creditworthiness, etc.) that helps inform decision-making.

A consistently high DSO can have many unintended consequences, including:

l Cashflow challenges that lower a business’s liquidity and prohibit future growth investments

l Poor forecasting due to uncertainty and inconsistencies around when you will get paid

l Increased operating expenses related to the cost of personnel, overhead, hiring more staff, etc.

l Staff frustrations stemming from tedious, unfulfilling activities and expanded work schedules

Key considerations

DSO is not the end-all-be-all

When it comes to analysing cashflow performance, the importance of DSO can’t be overstated. However, it has its limitations. Be sure to keep this in mind when comparing your DSO against other companies and/or industries and always evaluate what additional metrics would be beneficial to measure alongside DSO.

AR doesn’t operate in a vacuum

Improving AR performance goes a long way in the quest for better DSO. Unfortunately, AR can’t control the inefficiencies in other processes (e.g., order management) that also affect DSO. Should you opt to pursue digital solutions, consider providers with robust capabilities that extend beyond AR.

People, process & tech need alignment

There’s never a wrong time to implement the strategies

outlined in this article. However, their impact is maximised when all elements involved are harmonised. For example, if your AR team is motivated and aligned to improve, but your internal processes are outdated, reaching your goals may prove more difficult.

Let’s share five simple ways to improve DSO and cashflow within your AR department (along with some helpful “tech tips” for good measure) 

Customer Service and Technology

Strategy No. 1

Reevaluate & refine your credit management procedures

The importance of credit management – the process of extending credit to customers and assessing their creditworthiness – can’t be overstated. A lackadaisical approach to internal credit management procedures can have catastrophic effects on AR’s ability to stabilise cash inflow, keep DSO in check and safeguard their business from financial risks.

Here’s a simple yet effective checklist to help your AR team tighten its credit management practices and foster long-term financial success:

Knowing your customers

✔ When onboarding new customers, be sure to thoroughly assess their creditworthiness and provide them the right terms and right amount given their payment history from credit bureaus.

✔ Ensure that internal credit management policies are adhered to and reviewed at least annually (and more frequently for accounts with high exposure).

✔ Create an internal, standardised credit scoring model to facilitate better risk assessment and credit decisions across your entire team.

Performing ongoing assessments

✔ Set defined timeframes to perform routine, periodic reviews.

✔ Be diligent about managing limits to lessen company exposure (adjust as needed based on economic changes).

✔ Create criteria that alerts team members when a review of creditworthiness is necessary (e.g., A customer’s average days to pay has changed: Does this put us at an increased risk?).

Tech tips

Don’t discount the benefits of automation in the credit management process. With so much unpredictability and volatility riding on credit risk, the right solution can make a difference in terms of lowering DSO and securing receivables for credit management. Here are some standout capabilities your team could take advantage of:

l Predictive & prescriptive AI tools that: { Project future credit needs

or changes in risk profile

{ Provide suggestions of credit terms

{ Predict and anticipate the risk of blocked orders and facilitate their release

l Real-time alerts to trigger actional events both internally (e.g., current payment behaviours) or externally (e.g., insights from credit bureaus)

“[Automation] made so

many aspects of AR easier for us — whether it’s giving our team daily snapshots of what accounts they should be calling or getting more credit reviews done of existing accounts.”

– Director of Credit, Temperature Equipment Corporation (TEC)

Strategy No. 2

Make payment a top priority Naturally, an essential step to getting paid is the payment process itself. To ensure timely invoice payment, today’s businesses need to understand the mindset of modern B2B customers – they expect convenience, transparency and, most importantly, options. Translation: If you’re not easy to do business with, they won’t be either.

Try these two tips for better payment processing:

✔ Transition customers to e-payments – cash hits your account sooner!

✔ Be more aggressive: If you accept cards at net 30, for example, start doing it at net 10 (or accept cards and surcharge).

Tech tips

Automated payment solutions help your customers help you by providing a faster, more convenient and transparent

WHAT’S BEHIND AI’S USE IN AR DEPARTMENTS?

More AR teams are recognising that AI – a once novel technology that’s become ubiquitous in our lives – can be quite useful in the AR setting. However, rather than replacing workers, AI can be used as a discrete, digital assistant for everything from extracting data and supplying analytics to making predictions and even recommendations.

buying experience. This is thanks to a customer portal that enables customers to make payments without delay, including credit and debit card payment and direct debit (ACH, SEPA, BACS, ACSS, etc.). Dynamic surcharging in these instances can also help your business recover the potential costs associated with accepting card payments.

WHAT KIND OF AI TECH IS BEING USED – IS IT SAFE?

Machine learning (ML), deep learning (DL), natural language processing (NLP) and generative AI (GenAI) are AI technologies that fit well in typical AR environments. Best-in-class providers ensure that any AI used in their solutions is done so in a safe, trustworthy and ethical way. For example, your private data would never be used by a public entity.

Let’s pause...

To talk about AI

You may have noticed this article mentions AR automation solutions that use a mix of AI technologies. Naturally, this may stir some uneasiness among receivables teams. Before going any further, let’s briefly talk about AI’s use in AR and address some lingering anxieties.

WHAT’S THE RISK IN NOT ADOPTING AI IN AR?

While it’s true that AI tech might not be for every AR team, the trend line is clear: AI is the future. With the right provider on your side, its impact on productivity, decision-making, cashflow, CX and employee satisfaction is nothing short of indispensable — especially in an era of economic uncertainty and digital transformation.

Customer Service and Technology

Strategy No. 3

Tighten loose ends in your cash application process

Cash application is a process that involves matching incoming payments to outstanding invoices and the proper account. Only once this information is verified can the payment be used to fund payroll, make investments or disburse profits to shareholders. The faster the cash is applied, the faster your company can use it. Inaccuracies within cash application are tied to inefficient credit and collections performance which, in turn, directly affect DSO. Unfortunately, several factors can bring chaos to the cash app process, including incomplete and/or inaccurate remittance advice, invoice/payment amount discrepancies, and deductions. If quick-and-easy cash app improvement is what you’re looking for, start with these three strategies:

✔ Make sure there’s no “spill over” to the following day to apply cash (i.e., same-day application).

✔ Require all customers to provide remits (i.e., when making a payment, customers must specify what the payment is for).

✔ Follow up on unapplied cash ASAP.

Tech tips

If any AR process was primed for automation, it’s cash application. Best-in-class solution providers offer several amazing functionalities to accelerate payment processing and control cashflow in real time. These include:

“...several factors can bring chaos to the cash app process, including incomplete and/or inaccurate remittance advice, invoice/payment amount discrepancies, and deductions.”

l AI-powered remittance management, which automatically extracts and routes data from complex remittances, even when seen for the first time

l Automated payment allocation using 2- or 3-way matching, which auto-learns from users and improves its performance over time

l Intelligent suggestions powered by AI to facilitate better decision-making for your team

l Configurable rules to automate specific cases and eliminate time-consuming exceptions

“[Automation] has significantly reduced processing time for large remittances with 800+ line items from 2+ hours to mere minutes.”

– National Credit Manager, Fletcher Steel

Strategy No. 4

Don’t sleep on deductions Discrepancies in the amount on the customer invoice vs. what the customer actually pays are of major importance for AR departments. Not only does deductions management affect your team’s workload (time spent validating disputes, amending invoices, issuing credit notes, etc.), when done poorly, it can lead to delayed or inaccurate payment postings, strain customer relationships, and lead to financial losses (the average margin loss for written-off amounts is 3.7%).2

Here’s where to focus your attention:

✔ Stringent policy adherence. Make sure it’s clear who needs to review deductions (and when) to resolve in a timely fashion. This may include creating resolution timeframes.

✔ Strong terms and conditions. Institute clear policies on what’s allowed and what’s not for short pays and enforce penalties if necessary. However, orchestrating this back and forth via email can be messy (i.e., you losing money).

Tech tips

Given its complexity, it should come as no surprise that automation is a welcome addition to any deductions management process thanks to capabilities like:

l Automated work list of open deductions, providing instant visibility into who’s working

on what, where it’s at in the process, etc.

l Predetermined criteria to generate automated workflow (customers, sales, amounts, products, etc.)

l Automated approvals (i.e., if it hits these criteria, it gets approved)

l Aggregation of all details (invoices, remittance, promotion sheet, etc.) to ensure a quick, “researchready” resolution.

Strategy No. 5

Be diligent when it comes to collections management

It should go without saying: Collections management plays a vital role reducing DSO and maintaining a healthy cashflow. During extended periods of uncertainty and economic angst, however, customers are more willing to

wait until full term to pay or even paying late to hold on to their cash longer.

Of course, this doesn’t mean your collections team is helpless or doomed to a ceaseless fate of late payments. Below are five simple and practical practices you can institute immediately as a way to curb slow- or latepaying customers and help your team work more efficiently:

✔ Send dunning or payment reminders BEFORE invoices are due.

✔ Send statements on a routine basis with the right details needed to remit payment –leave no room for excuses! Beyond the invoice and amount, you can also include the PO number or any other piece of information that removes any doubt or confusion in the customers’ eyes. 

Customer Service and Technology

✔ Follow up on promise-to-pays (e.g., calling them the day before).

✔ Accept payments for credit card to avoid delinquent payments (instead of waiting until customers have the funds)

✔ Formalise a dispute process so you can respond to resolve them quickly.

Tech tips

The most efficient collections process is one that’s adapted to your organisation, customers and unique needs. Automated solutions allow you to do just that thanks to a myriad of powerful, easy-to-use collections tools such as:

Conclusion

l Automated dunning statements

Conclusion

a backdrop of an uncertain economic outlook, inflated interest rates and ongoing labor shortages, cashflow optimization has moved up the priority list of the Office of the CFO. This has put more pressure on AR teams to contain costs, reduce DSO and preserve customer relationships. despite these seismic challenges, there’s reason to be optimistic.

l AI-driven prioritisation of which accounts to contact based on payment predictions and risk level

l Risk classification based on payment behaviour, helping your team determine who to prioritise

Sources

l Suggested responses powered by GenAI

ebook has shown, improving receivables can start small — instituting a few practical strategies can go a long way in terms of impacting overall invoice-to-cash performance. Automated solutions, particularly those powered by AI technologies, play a significant role in helping these strategies succeed, while opening the door for other, more future-defining improvements.

of businesses saw their DSO improve after automating their processes3

*Eric Maisonhaute MICM

Meeting the Growing Need for AR Modernization. (B2B and Digital Payments Tracker® Series). October 2023. PYMNTS Intelligence.

l Automated task creation for disputed invoices to route for resolution, with SLAs and reminders.

Against a backdrop of an uncertain economic outlook, inflated interest rates and ongoing labour shortages, cashflow optimisation has moved up the priority list of the Office of the CFO. This has put even more pressure on AR teams to contain costs, reduce DSO and preserve customer relationships. Yet, despite these seismic challenges, there’s reason to be optimistic.

Director – Accounts Receivable Solutions, Esker Australia Pty Ltd

T: 02 8596 5126, M: 0479 089 668

Automating the Management of Customer Deductions Reduced Time, Complexity and Cost in Accounts Receivable. 2018.

E: eric.maisonhaute@esker.com.au www.esker.com.au

CFOs Can Take a Holistic View to Transform the Finance Function. December 2, 2022. EY Global.

“Automating its collections management process helped Hillcrest Food Service achieve a 97-99% Collection Effectiveness Index (CEI) and a 30% reduction in workload per full-time employee.”

As this article has shown, improving receivables can start small – instituting a few practical strategies can go a long way in terms of impacting overall invoice-to-cash performance. Automated solutions, particularly those powered by AI technologies, play a significant role in helping these strategies succeed, while opening the door for other, more future-defining improvements.

SOURCES

The following sources were used in this article:

1. Meeting the Growing Need for AR Modernization. (B2B and Digital Payments Tracker® Series). October 2023. PYMNTS Intelligence.

2. How Automating the Management of Customer Deductions Reduced Time, Complexity and Cost in Accounts Receivable. 2018. IOFM.

3. How CFOs Can Take a Holistic View to Transform the Finance Function. December 2, 2022. EY Global

Beyond transactions: Balancing customer satisfaction with risk management

By Neill Borg MICM*

In today’s competitive landscape, businesses must strike a delicate balance between managing risk and delivering exceptional customer experiences; Credit management is no exception. As customer expectations rise and market conditions evolve, innovative credit onboarding and decisioning solutions have emerged to address these challenges. By leveraging stateof-the-art technology and a vast amount of available data, businesses will not only mitigate risk effectively but also keep their customers satisfied throughout the credit application process.

Enhancing customer satisfaction

Many consumers and businesses often apply for a line of credit with multiple

organisations simultaneously and expect a swift response. Therefore, exceptional customer engagement throughout the application process is crucial to meet these expectations and ensure a positive experience to secure the business.

Offering a seamless and personalised digital application journey is a fantastic way to keep customers engaged. Each business is unique, and its digital customer experience should reflect that. Companies invest millions in branding and marketing, and the first touchpoint a customer often has with them is the onboarding journey. By providing a hypercustomised, user-friendly and intuitive digital application journey that embodies your brand’s DNA, you can significantly enhance the overall customer

“As customer expectations rise and market conditions evolve, innovative credit onboarding and decisioning solutions have emerged to address these challenges.”

Neill Borg MICM

Customer Service and Technology

experience. This approach ensures a smooth and efficient process for applicants. It’s crucial that the application journey is quick and easy to complete, can be submitted without hassle, and is responsive and adaptive across all devices.

Another primary way to ensure customer satisfaction in the credit application process is through enhanced transparency. Advanced credit management systems provide customers with a comprehensive view of their application status via dedicated portals and automated communication. This transparency allows applicants to track their progress in real-time and interact directly with the credit team.

Applicants can log into a

“Another primary way to ensure customer satisfaction in the credit application process is through enhanced transparency... This transparency allows applicants to track their progress in realtime and interact directly with the credit team.”

secure portal to monitor their application status and receive live updates on any outstanding tasks or documents. Additional touchpoints via automated SMS and e-mail notifications further keep applicants updated. This continuous communication loop helps alleviate customer anxiety and fosters a sense of comfort throughout the process.

With the rise of generative AI, it’s clear that credit management portals will most likely begin to leverage these advancements to facilitate realtime customer interactions through chatbots and other automated engagement. As disruptive technologies continue to push boundaries, we can expect even more innovative

solutions that transform and enhance the way businesses connect with their customers throughout the credit application process.

Balancing risk management and efficiency

Credit teams face the ongoing challenge of assessing applications quickly while effectively managing risk. Advanced credit onboarding solutions address this challenge by automating many tedious tasks traditionally handled by credit teams, such as data entry and validation, creditworthiness, anti-fraud assessments, asset evaluation, financial spreading, PPSR registrations and document management.

Automation not only enhances data accuracy and boosts efficiency but also ensures consistent adherence to best practices, allowing credit teams to make comprehensive and informed decisions without exposing themselves to additional risk.

Leveraging technology such as biometric authentication ensures secure and rapid identity verification of individuals and directors, helping to mitigate fraud. Meanwhile, digital signatures streamline document management, reducing reliance on physical paperwork and manual processes.

In the financial services sector,

“Customisation of software is also essential for organisations, as a one-size-fits-all approach is often inadequate.”

there is a high rate of adoption of open banking for serviceability and more recently the use of financial data from accounting software for categorisation and analysis, enabling faster and smarter credit assessments.

Additionally, advanced decision engines are being used to house industryspecific custom credit and fraud scorecards, as well as risk models, enhancing decision-making and deterring fraudulent activities. It is evident that in the near future, other sectors will also begin to adopt some of these practices.

Customisation of software is also essential for organisations, as a one-size-fits-all approach is often inadequate. Personalised dashboards can offer businesses detailed data and analytics tailored to their needs.

Executives gain a holistic view to monitor and assess performance across different states or regions, with full transparency over all applications and team members.

Similarly, team members benefit from customised dashboards that streamline their workflow. These

“Credit teams face the ongoing challenge of assessing applications quickly while effectively managing risk.”

bespoke tools allow them to concentrate on individual applications and task streams, prioritise outstanding tasks, and ensure swift processing of applications without overlooking any details.

Conclusion

Innovative credit management solutions are reshaping the way businesses approach the balance between customer satisfaction and risk management. By integrating advanced technology, companies can enhance transparency, streamline processes, and improve efficiency. These advancements enable credit teams to focus on strategic decision-making, ultimately fostering a positive customer experience while safeguarding against potential risks.

As we move forward, the continuous evolution of these solutions will be pivotal in meeting the dynamic needs of both businesses and their customers. Embracing these innovations will not only optimise credit management practices but also reinforce a customerfirst approach in an ever-evolving landscape.

*Neill Borg MICM Enterprise Director T: +61 401 066 624 E: neill.borg@credisense.io www.decisionok.com.au

emerging trends impacting credit management teams

By Dion Appel MICM*

Finding new ways to unlock organic growth and optimise costs is falling onto finance teams amid persistent economic headwinds.

As Australian businesses battle against ongoing pressures such as inflation, global economic instability leading to cashflow issues, labour shortages, and inflation, credit teams are being looked upon to unlock efficiencies in how business processes are managed.

A report by PwC reveals that nearly half (45 per cent) of CEOs think their organisation won’t be economically viable in a decade if it continues on its current course, prompting businesses to turn to B2B as a channel to unlock growth opportunities as a strategic priority.

A new era of credit management is upon us. Enabled by technology, businesses are looking to their Accounts Receivable processes to better manage business cashflow, monitor business risks more closely and retain and grow customer value.

In the ever-changing credit management environment, here are 5 emerging trends to look out for:

1

Industry specific cloudbased platforms

One-size-fits-most cloud platforms are being ditched in favour of industry-specific cloud platforms that meet unique business requirements.

A surge in data volumes requires a radical rethink to

“As Australian businesses battle against ongoing pressures such as inflation, global economic instability leading to cashflow issues, labour shortages, and inflation, credit teams are being looked upon to unlock efficiencies in how business processes are managed. ”

Dion Appel MICM

enable centralised data access with real time visibility. Cloud solutions tailored to specific industry needs deliver readyto-go solutions without the time and cost that comes with customisation.

The right technology gives finance teams intelligent automation procedures, which enhances business processes in a single cohesive tech suite. This means that real-time advanced data access and analytics are within arm’s reach at all times, improving communications and credit risk profiling, supporting compliance with the increasingly complex financial regulations.

By migrating data and workloads into the cloud, businesses are hitting the

“Credit managers want a solution that automates repetitive manual tasks, and are wondering how advanced machine learning and artificial intelligence could help them achieve this.”

ground running, reducing downtime and providing greater efficiencies and experiences.

2 Intelligent automation

Credit managers want a solution that automates repetitive manual tasks, and are wondering how advanced machine learning and artificial intelligence could help them achieve this.

Automation enables a business to implement a unique

set of business rules through a process that a human otherwise completed. It is consistently applied in every type of scenario, and every step of the full credit management process. Instead of investing in multiple systems such as onboarding, account management, invoicing and reconciliation businesses are realising the benefits of streamlining through automating all of those areas within one cloud-based solution.

Customer Service and Technology

Automation tools can generate and send invoices to customers based on predefined schedules or triggers, with payment reminders and scheduled follow ups. They can also allow a business to route documents through a claim process without employees needing to oversee each step.

Intelligent automation can improve business processes by automating tasks usually completed by humans, such as data processing, data entry and customer support . This means that companies can ensure resources are focused on improving the customer experience. It allows teams to speed up processes and save on costs, ensuring the elimination of errors when employees are undertaking repetitive tasks.

Automation tools have been helping businesses stay on top of complexities as they realise that stamping out overdue payments

and enhancing existing customer interactions can enable businesses to improve the bottom line.

Businesses leading the way are freeing up resources and improving operational efficiencies, providing a natural head start on the task of streamlining business processes. Connecting the functional processes within a business can also provide you with centralised visibility to critical data points.

3 Gen AI

The next frontier of automation is generative artificial intelligence (Gen AI), which is emerging as a powerful secret weapon for businesses bold enough to navigate this new frontier.

Gen AI is artificial intelligence capable of generating text, images, videos or other data using generative models, often in response to prompts.

It can transform mundane functions such as onboarding, communications and account reconciliation, the technology with human-like intelligence can perform tasks with speed and with high level accuracy.

Gen AI can also analyse and interpret patterns such as customer behaviours, giving businesses greater visibility over the performance of their entire customer base. This means businesses can take action before a risk occurs and potentially capitalise on growth opportunities simply by being better prepared.

Businesses are mitigating the inherent risks that exist in Gen AI by creating a specific strategy bespoke to the way your business operates, being mindful of Gen AI bias, and data and security restrictions.

If you’re not in this space yet, it’s time to embrace Gen AI to stay ahead of the pack. This

“Siloed teams are looking for ways to be seamlessly connected as businesses realise that a good idea can come from anyone, anytime.”

isn’t about replacing people with AI, but augmenting their capabilities and evolving your teams alongside the technology for greater efficiencies.

4 Business integration

Siloed teams are looking for ways to be seamlessly connected as businesses realise that a good idea can come from anyone, anytime. Or, a good idea can be served from your business technology in the form of data. Integrating functions allows teams to share and access the same information in real time, removing any manual work previously required to obtain a single view of a customer and their status.

A platform that streamlines all operating functions is helping businesses enforce best practices in credit control including the ability to conduct near-time creditworthiness checks and automate credit management functions that integrate with ERP systems. It is a much more robust and scalable way to run a business, removing duplication and optimising workflows.

Some businesses also realise the power of self-service customer portals that offer convenience of 24/7 access to manage all aspects of their account. This transparent approach keeps communication channels open at all times,

enabling fast and frictionless interactions, empowering the customer experience.

By allowing companies to connect their digital ecosystems and fostering greater communication with their external partners, the speed at which a company can process and handle transactions is resulting in a far more optimised experience for both parties.

5 Customer tiered segmentation

Pulling the necessary customer data to build customer segments is critical in today’s business world. But for those still trying to piece it together even using Excel spreadsheets populated by humans, it’s an impossible task.

The right cloud-based credit management system can

help segment customers to better understand their needs, preferences, behaviours and buying patterns. This enables a stronger focus on customer experience, leading to better resource allocation.

Each customer is different from the next, not only in how they spend, but how often they do business with you, their pain points and what trading terms established with them. By tailoring your communication efforts to each customer to better meet the needs of each segment, you can increase customer loyalty and grow overall profitability.

Machine learning and AI can make the task much easier, helping your business segment contact lists and even set up communication workflows, freeing up your team to focus on customer-facing tasks.

*Dion Appel MICM is the CEO of Opypro, a fully digitised end-to-end platform which streamlines and automates the B2B accounts receivable process.

Strategies for supporting customers facing financial difficulties

By Alex Caruana MICM*

Financial difficulties can impact anyone, all businesses must be equipped with strategies to support their customers during such challenging times. Providing effective support not only helps customers manage their financial struggles but also fosters loyalty and trust.

Here are several strategies that can help businesses support customers facing financial difficulties. Companies in the credit sector should look at the below application not only through the lens of consumer credit, but through the lens of commercial credit.

Early identification of financial distress

Proactively identifying customers who are likely to face financial difficulties is crucial.

This can be achieved by:

l

Monitoring payment patterns

Regularly analysing payment patterns can help identify changes that may

indicate financial distress. Late payments, missed payments, or requests for extended payment terms can be early signs.

l Predictive analytics

Utilising predictive analytics and machine learning models can help foresee potential defaults. By analysing various data points such as spending behaviour, credit utilisation, and economic indicators, businesses can identify at-risk customers before they default.

Accessibility of data and use of data in credit departments will be the crucial change elements that every organisation needs to embrace.  Credit can be the poor cousin versus sales, however

Alex Caruana MICM

“Financial difficulties can impact anyone, all businesses must be equipped with strategies to support their customers during such challenging times.”

by asking for data and using your data effectively will assist in identifying customers in financial distress.

Personalised communication and engagement

Effective communication is key to supporting customers. Personalised communication can make customers feel valued and understood.

Strategies include:

l Personalised outreach

Reach out to customers personally to discuss their financial situation and offer assistance. This can include

phone calls, personalised emails, or in-person meetings including field calls where less intrusive means have failed to make contact.

l Clear and transparent information

Provide clear and transparent information about their account status, payment options, and available support. This helps in building trust and reducing anxiety about their financial situation.

Flexible repayment plans

Offering flexible repayment plans can provide significant relief to customers in financial distress.

This can include:

l Custom repayment plans

Develop tailored repayment plans based on the customer’s current financial situation. This might involve smaller, more manageable payments over an extended period.

l Interest rate adjustments

Temporarily reducing or waiving interest rates can make repayments more manageable and demonstrate empathy and support.

It may prove beneficial to put a customer on a payment plan that to take further action.  Having a process that allows

the customer to feel engaged will deliver a greater outcome for you and the customer and will generally lead to a higher repayment amount or sustained repayment plan.

Leveraging technology

Technology can enhance the support provided to customers facing financial difficulties. Innovations include:

l Digital portals

Create secure digital portals where customers can view their account status, access resources, communicate with your staff and raise queries with any invoices.

l Automated reminders

Implement personalised automated reminders for upcoming payments or overdue balances, helping customers stay on track without feeling overwhelmed.

l Credit reporting

Ensure that you have direct access to credit reporting agencies and subscriptions to enable you to make the right credit decisioning before credit is extended.

We are sitting in a technology boom in the way in which credit is supported. There is multiple applications on the market

“Train staff to handle sensitive conversations with empathy and understanding.”

that can support your credit functions.  Investing in technology not only improves your team efficiency, however it will improve your customer engagement and set you apart from your competitors.

Empathy and compassion

Demonstrating empathy and compassion can make a significant difference. Key approaches include:

l Training staff

Train staff to handle sensitive conversations with empathy and understanding. Ensure they are equipped to offer support and solutions rather than just enforcing payment terms.

l

Creating a supportive environment

Foster a company culture that prioritises customer well-being and encourages employees to go the extra mile in providing support.

This is one thing that does not cost you anything, however could be the difference between you getting paid or not.

Collaboration with financial advisors

Collaborating with external financial advisors can provide customers with additional support and expertise. This collaboration can involve:

Partnerships

Establish partnerships with financial counselling firms to offer customers professional financial advice.

“Collaborating with external financial advisors can provide customers with additional support and expertise.”

l Referral programs

Implement referral programs where customers can be referred to trusted financial counselling services for more in-depth support.

Transparent policies and procedures

Ensuring that your credit terms and applications are transparent and easily understood can help alleviate customer stress. This involves:

l Clear policy communication

Clearly communicate policies related to late payments, defaults, and available support options.

l Simplified Processes

Simplify processes for requesting assistance, making it easier for customers to seek help when needed.

l Disputed Invoices

Set up a process that allows your customers to dispute any invoices which they have with you.  This should include a process where undisputed debts are quarantined and paid by the customer.

Summary

Supporting customers facing financial difficulties is not just about managing risk but about building long-term,

trust-based relationships. By proactively identifying distress signals, engaging customers with empathy, offering flexible repayment options, and providing financial education, businesses can significantly enhance customer satisfaction and loyalty.

These strategies not only help customers navigate financial challenges but also contribute to the overall success and reputation of the business.

Adopting a customer-centric approach to financial difficulties can transform challenges into opportunities for stronger, more resilient customer relationships. As we navigate the complexities of the financial world, these strategies will remain key to achieving sustainable success in credit management.

*Alex Caruana MICM is an accomplished professional in debt recovery and field services with over 35 years of industry experience. As Director – Business Development at Credit Collection Services Group (CCSG), Alex is at the forefront of industry engagement, bridging the gap between theory and practice. Drawing from his extensive experience across all sectors, Alex leads initiatives that enhance partner relationships and drives innovative solutions for clients and their customers. Contact Alex Caruana via email alexcaruana@ccsgroup.com.au

What is industry doing in addressing financial hardship and vulnerability and what strategies are in place to support customers facing financial difficulties

By Elsa Markula*

Elsa Markula

Neither financial hardship nor customer vulnerability are new to the credit reporting industry. However, over the past few years, we have seen a real shift in expectations towards how industry deals with both financial hardship and customer vulnerability. The shift in expectations is multifaceted. The rising cost of living have led many consumers to face financial hardship for the first time, and sometimes with no easy path out of that hardship. ASIC’s Hardship Report 783 published in May 2024, has also emphasised that issues of hardship and vulnerability need to be proactively tackled by industry to meet ASIC’s regulatory expectations.

At the same time, rates of domestic abuse, including severe cases where violent partners have killed women, have risen. Advocates such as the Centre for Women’s Economic Safety, the Economic Abuse Reference Group and Flequity Ventures have highlighted the connection between domestic abuse and financial abuse. This growing awareness has led to increased scrutiny and heightened expectations regarding how the industry responds to consumers affected by domestic abuse. For industry, it is challenging to get the balance right. It involves maintaining a consistent approach to issues like financial abuse while ensuring customer safety and adapting to the unique needs

of each situation. Vulnerable customers often require a range of options rather than a one-size-fits-all approach. Similarly, when dealing with financial hardship, it is crucial to consider whether it is in an over-committed customer’s best interest to maintain credit they may struggle to afford. Determining when to draw the line is also a key consideration.

Arca has been working with our members for some time focussing on two key projects: domestic abuse and financial hardship reporting and messaging. A key learning we have applied to these projects has been the importance of ensuring that industry responses are informed by lived experience insights.

“The rising cost of living have led many consumers to face financial hardship for the first time, and sometimes with no easy path out of that hardship.”

In abusive relationships, financial abuse is often a hidden but common factor, impacting credit and credit reporting. Arca recently engaged Flequity Ventures to undertake a lived experience consultation to help us better understand the specific barriers and needs of survivors and the way the credit and credit reporting system can be weaponised by perpetrators of abuse. The findings were alarming – rates of coerced and fraudulent debt are extremely

high – and victims and victim survivors of abuse can be trapped in a relationship because of lack of credit access – or face poverty or homelessness when they escape.

Importantly for Arca, these insights have helped guide an industry response. Arca is developing a set of principles for credit providers and credit reporting bodies which will address some of the key issues raised by this consultation. We are also looking to develop

material to better educate consumers throughout the credit life cycle about their choices and options – and to train staff to identify and respond to financial abuse more effectively.

We are mindful that in developing this material, the need for lived experience insights remains paramount and as we roll it out our consultation will be extensive (and seek wherever possible to reflect the existing learnings in this space).

Arca has also recently undertaken work on financial hardship messaging through our consumer education initiative CreditSmart. These materials arm lenders with a set of messages on how best to explain the impact of hardship reporting to consumers. Like our domestic abuse work, we have been guided by expert insights – including a review undertaken by Scope Disability and consumer testing of

messages facilitated by Lewers Research.

A key takeaway from these insights is the importance of encouraging consumers to trust their lenders. In that sense, taking the time to explain to consumers simple concepts – which in some instances, may even mean directing a consumer to information so they can understand the basics of credit reporting – is critical.

Shame is a key factor for consumers facing hardship for the first time, and it is so important that these consumers feel supported, rather than judged, by their credit providers. Simple things – even the words used to communicate with that consumer – can make a real difference in both consumer experience and outcome.

CreditSmart content is constantly being updated to reflect our learnings, and it can be used by all credit professionals to help improve their own understanding and inform how they engage with others – whether it be with consumers directly or those in consumer facing roles. The consultant resources section is jam-packed with downloadable factsheets on key topics and is a great place to start. In the next month, we will also be rolling out Easy Read brochures on financial hardship and late payments.

*Elsa Markula Arca CEO

www.arca.asn.au

President’s Report

2024 has been an exhilarating year for us at the QLD AICM, and our momentum shows no signs of slowing down!

On a surprisingly warm winter evening at Customs House, we celebrated the pinnacle of credit professionalism at our highly anticipated Awards Night. The night was a true testament to the dedication and excellence within our community. It is with great pride that I announce the winners: Mary Owens, who was honoured as Credit Professional of the Year, and Caitlin O’Dwyer, who received the accolade of Young Credit Professional of the Year. Both Mary and Caitlin have exemplified outstanding commitment and have

set inspiring standards for all of us. Congratulations to both on their well-deserved achievements!

We also honoured some significant milestones for four of our long-standing members: celebrating 30 years with the AICM, Elizabeth Morris and Merv Mahony, and an extraordinary 45 years with the institute, Warwick Ballantine-Jones. Additionally, we were delighted to present our very own National President, Julie McNamara, with her elevation to Fellow (FICM). Her contributions to the industry are truly noteworthy. These are outstanding achievements that deserve recognition.

Now the excitement doesn’t end there! We are

YCP Finalists and Sponsors: Justin Watson MICM (ARMA), Caitlin O’Dwyer (BOQ), Kimberly Ho MICM (Agility Law), Saki Nojiri (Endeavour Foundation), Jasmine Law MICM (Agility Law) and George Wolf MICM (Creditorwatch.

Caitlin O’Dwyer – YCP Qld 2024.

Stacey Woodward MICM CCE (Qld President) and Julie McNamara FICM CCE (National President).

eagerly looking forward to our sold-out WINC event at the Calile Hotel this month. This event promises to be a highlight, bringing together inspiring women from our industry to share insights, foster connections, and celebrate the power of our community.

As we approach our local AGM, we anticipate welcoming new councillors who will bring fresh ideas and enthusiasm to our team. At the same time, we will be bidding a fond farewell to Ashleigh Mason, who has been on the QLD council for six years. Ashleigh’s contributions, particularly in our events and CCE portfolio, have been invaluable, and her presence will be greatly missed. We extend our deepest gratitude for her unwavering dedication and hard work.

I am looking forward to connecting with our interstate members later this year at our National Conference. See you then!

AICM Awards Night

Friday 26 July 2024

The AICM Queensland hosted it’s prestigious awards night at the historic Customs House, drawing together the crème de la crème of the credit management industry. It was a night of celebration, recognition and networking.

The evening began with drinks and canapes in the stunningly restored Customs House, providing guests with the opportunity to mingle and enjoy the elegant ambiance. The venue, known for its rich history and architectural charm, set the perfect backdrop for the evening dedicated to honouring outstanding achievements in the credit industry.

As guests took their seats for the awards, the atmosphere buzzed with anticipation. The night was hosted by Stacey Woodward our Queensland President, who guided the evening with both

Monique Barton MICM, Saki Nojiri and Kanureet Dhillon (Endeavour Foundation).

Pauline Dey MICM CCE (BDO), Lynne Walton MICM and Ashley Le Roux MICM (Access Intel).

Kirsty Gray MICM CCE, Mary Owens MICM CCE (Cement Australia & CP Qld 2024) and Tony Meredith (illion).

Dale Hannan MICM CCE, Cheryl Martin and Keval Bhatt (National Collection Services).

charisma and insight, highlighting the remarkable accomplishments within the industry.

The awards highlighted the exceptional talent within the Australian Institute of Credit Management (AICM), celebrating both experienced professionals and the promising new entrants to the credit industry. By recognising outstanding achievements, the awards not only honor those who have made significant contributions but also inspire and support the next generation of credit professionals as they embark on their careers.

Creditorwatch and ARMA presented the award for the Young Credit Professional. There were four amazing candidates each with their own set of credit skills and showed their expertise and passion within their field in the credit industry.

Caitlin O’Dwyer from BOQ stood out and was awarded the YCP title for Queensland. Her performance throughout the interview process was

exceptional, showcasing a profound understanding of the credit industry and a clear passion for her work. Caitlin’s ambitious plans for her future career further underscored her dedication and potential in the credit sector. Congratulations to Caitlin on this well-deserved recognition!

The award of Credit Professional title for Queensland was presented by Illion. Four amazing women took time out of their busy careers to present themselves to a panel of judges showcasing their exceptional dedication and passion. Each finalist demonstrated a profound love for their teams and a commitment to ensuring the voice of Credit is both heard and valued across the broader business landscape. Their ability to inspire and motivate those around them is a testament to their leadership and unwavering dedication to the profession.

Mary Owens – Credit Manager, Cement Australia brings a wealth of experience and an abundance Customs House.

Aleah Burgas and Antonia Teale (Sharp & Carter), Pauline Dey MICM (BDO), Gael Duff (Transurban), Rose Him (Sharp & Carter).

Jordan McNee MICM CCE (The University of Qld), Mary Owens MICM CCE (Cement Australia), Temaui Cohen MICM (Transurban) and Vicky Reeves MICM (Cement Australia).

Pauline Dey MICM CCE (BDO), Maureen Greaves MICM CCE (Harrington Bobcat Hire) and Monique Barton MICM (Endeavour Foundation & CP Finalist).

queensland

of heart to her role and was awarded as the Credit professional title for Queensland. Mary’s commitment to ongoing professional development is unwavering. She not only ensures she stays current within the world of credit, but she also keeps herself informed on local and national news that could impact her business and customers, such as economic trends and environmental issues. This comprehensive approach underscores her dedication to her role and her proactive stance in navigating the ever-evolving business landscape.

We also took the opportunity to recognise longstanding AICM members for their dedication and service. Special mention to Elizabeth Morris who celebrated 30 years of membership and Warwick Ballantine who was honored for an impressive 45 years of commitment. Additionally, Julie McNamara our National President was acknowledged for her achievement in becoming a Fellow of the Institute. These awards highlighted the remarkable contributions and enduring commitment of these esteemed individuals to the AICM and the credit industry.

As the mild winter’s evening drew to a close, we wrapped up our event with some final networking. The backdrop was the Story Bridge, beautifully illuminated in green and gold in celebration of the Olympic Games, adding a vibrant and festive touch to the night.

Member Interview

Warwick Ballantine-Jones LICM

Current Role

I am the CEO and Managing Director of Ballantine Mercantile Agency Pty Ltd trading as Collection Works or ‘BMA’.

Tell me about your career. I started out in the early 70’s working for a couple of mercantile agencies in Sydney. I worked for Dun and Bradstreet, Whites Mercantile and then Fosters Mercantile. Fosters Mercantile had a strong commercial based collections portfolio. In my role at Fosters, I learnt a lot about commercial litigation and corporate and personal insolvency as I was more exposed to the legal side of debt recovery.

In 1978, I opened the Fosters Brisbane office. I established my own business, BMA, in 1981. I built up a strong client base that included building suppliers and liquor wholesalers. One of my key clients was ‘Power’s Brewery’ which was the first Queensland brewery competitor to XXXX beer. I did a lot of work for ‘Power’s Brewery’ until its business moved to Sydney and Melbourne.

In 2015, I decided to downsize my business. I still do work for some key clients. My team is much smaller now. In the 80’s to 90’s, I had a large team of staff engaged as collectors and in legal support.

What is the biggest change or development in credit management that you have observed during your career?

It has to be Technology. In my career, I have seen the introduction of the telex machine, the fax machine, computers, emails and text messaging. When I first started out in the 70’s, a credit report took a few days to turnaround. We had to attend the company data registry to access to the paper file containing the company register information, dictate the company record information onto a tape, send the tape to a stenographer who would then type the company information on to a stencil, and then put the stencil into a Roneo Machine to print copies of the company data report. One of the reports would be sent to the client who had ordered it. The remaining copies would be kept on a file as a ‘pre-dated’ report for the next customer that requested a company extract for the same company.

Now, credit reports are available at the touch of a button.

How long have you been a member of the AICM?

I have been a member of the AICM since 1979, so approximately 45 years. I am privileged to have the status of a Life Member of the AICM.

I have been actively involved at all levels of the AICM. I was the Queensland President from 2000 to 2003. I have contributed to AICM education and mentoring initiatives by delivering training sessions on bankruptcy and mentoring colleagues.

I have seen the AICM grow from a series of individual state based organisations into the more unified national structure that it is today.

What changes in the AICM have you overseen or observed over time?

The introduction of sponsorship has been key to the growth of the AICM into the success that it is today. Sponsorship enabled the AICM to provide more services to its members and more frequent opportunities for credit professionals to network and be involved in AICM initiatives.

In the early days, lawyers and accountants were not eligible to be members of the AICM. Now they can. This diversity of membership has also contributed to the growth and success of the AICM.

What has been your biggest professional challenge to date?

Staying across and adapting to commercial and legal changes that affect credit management. I keep up to date on commercial and legal trends. I have published articles in the Australian Financial Review. I have also spoken on Radio 4BC on topics such as changes to privacy laws.

I’ve seen a lot change in these areas throughout my career. I’m really interested in current hot topics such as: how technology, such as AI, will impact credit reporting? How the recent changes proposed by the Australian Government to the bankruptcy debt threshold will impact the ability of creditors to recover low level debts? How credit managers are going to deal with the significant increase in fraud? I continue to publish thought leadership pieces on hot topics in publications when opportunities arise.

What has been your biggest professional accomplishment to date?

Maintaining my standing in the profession. This is what I am most proud of.

What advice can you give to emerging credit professionals?

Engage with your profession. Get involved in industry associations, such as the AICM, to help you make new friends, expand your professional network, and stay across emerging trends in your industry. If you do this, watch your career blossom! Enhance your skills and expand your knowledge by undertaking further study. Also, be courageous. If you don’t like what you are doing, have the confidence to get out of what you’re doing and try something new. You have to enjoy what you do.

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

I love travel and sports. I love rugby leave, rugby union, tennis and motor sports. I have been lucky enough to combine my two passions. I have been fortunate enough to travel to Italy to indulge my motor sports passion and to visit Wimbledon and Flushing Meadows to see some amazing tennis matches. I aim to travel every year. I have been to India, Russia, Africa, Egypt and Norway. This year, I am going to take a boat trip down the Rhine River and I will spend Christmas in Paris.

YCP Interviews

What’s your name and where are you from (company)? Saki Nojiri –Endeavour Foundation

What are your interests outside of work and credit? I love travelling, going on road trips, cafes, interacting with animals.

Why did you apply for YCP? My Manager nominated me and encourage me to apply to learn what Credit is about and meet new people.

What did you like about the process? Everyone who I met at the judging was so kind and inspiring. I really appreciate the advice/ information they provided.

Would you recommend it to others? Yes absolutely!

Something interesting about yourself? I am originally from Japan and came to Australia in 2016. I was not able to speak English at all then. I am proud to be working full-time as Credit Officer.

What’s your name and where are you from (company)? My name is Jasmine Law and I’m employed by Agility Law Group as a Law Graduate.

What are your interests outside of work and credit? Outside of work, I really enjoy going to the gym and spending time with my family.

queensland

Why did you apply for YCP? I applied for YCP because it offers a valuable platform to expand my professional network and enhance my skills within the industry. It’s an excellent opportunity for career growth and to engage with others who share similar interests and goals.

What did you like about the process? The interview process provided an opportunity to showcase my knowledge in credit management. The questions were thought-provoking and helped me reflect on my professional journey, emphasising the skills and insights I’ve gained.

Would you recommend it to others? Absolutely. Participating in this process offers a unique opportunity to showcase your abilities and gain recognition within the industry. It’s a fantastic way to put yourself out there, expand your professional network, and learn new things.

Something interesting about yourself? An interesting fact about me is that I’m an avid reader. I enjoy exploring different genres and discussing interesting finds with others.

What’s your name and where are you from (company)?

Caitlin O’Dwyer – BOQ Group

What are your interests outside of work and credit? Fitness, cooking, keeping my 3 dogs busy.

Why did you apply for YCP? A previous colleague reached out to me to apply and had nothing but great things to say about AICM.

What did you like about the process? I thought it was fun! I have done nothing like this before, it was exciting to meet the judging panel in person and have a great conversation with them. There are so many great opportunities that have come out of applying for this award.

Would you recommend it to others? Absolutely, it is good to get out of your comfort zone. Great opportunity for networking and representing the business you work for.

Something interesting about yourself? I did competitive cheerleading for 7 years and was a Cheerleading Co Coach for a few years.

What’s your name and where are you from (company)? Kimberly Ho. I work in Agility Law Group as a Law Graduate.

What are your interests outside of work and credit? Crotchet and a bit of fiction reading.

Why did you apply for YCP? I heard about the YCP from Dale Hannan, a previous winner of the Young Credit Professional Award in the Queensland division, who encouraged me to apply for YCP.

What did you like about the process? It was very easy and efficient! I also really enjoyed the interview process because I thought it was a great way to put my interview skills into practice.

Would you recommend it to others? Yes! While it may be a bit nervewracking at first, I think it’s a really good way to put yourself forward.

Something interesting about yourself? I’ve been fairly productive with my crotchet hobby this year. Since January I’ve made four outfit/accessories for my dog, two hats and two bags for myself and my family.

CP Interviews

What’s your name and where are you from (company)? Monique Barton – Endeavour Foundation

Why did you apply for CP? I thought it would be a good experience, give me more confidence and be more inspiring to my team.

What did you enjoy about the process? I enjoyed the interview. I did one last year but felt a lot more at ease knowing the process this time around.

Would you recommend it to others? Absolutely, it opens your eyes to the possibilities within the industry and what the AICM is all about

What are your interests outside of work and credit?

I enjoy gardening and interior decorating.

What’s your name and where are you from (company)? Maureen Greaves. Harrington Bobcat Hire

Why did you apply for CP? It is a real privilege to be recognised for your skills and dedication within the industry.

What did you enjoy about the process? I really enjoyed:

l sharing my journey and achievements.

l discussing the progress to date within my current position at Harringtons

l thinking & discussing the positive changes throughout my working life

l reflecting back on the teams I have been a part of and the process improvements made

Would you recommend it to others? Absolutely recommend this for others.

What are your interests outside of work and credit? Travelling, friends and family, renovating, gardening and music.

What’s your name and where are you from (company)?

Mary Owens – Cement Australia

I applied for the Credit Professional of the year after a nudge from a friend, my team and husband.

I hadn’t originally planned on applying as my focus was working with my team on the Credit Team of the year application.

When you apply it makes you reflect on your credit journey and what you have achieved. This gives you a boost of energy excitement and confidence and motivates you to keep giving your best self each day.

I loved the interview process. The panel were

warm and made me feel calm and relaxed. I always enjoy public speaking and find this easier than completing the written application. I am passionate about my role as Credit Manager and talking about it comes easy to me after 30 years. I felt great after the interview and felt that I had given it ��

I would thoroughly recommend it to others. The experience and support from other Credit Professionals, my Team and my family lifts your moral and drive.

My interests outside of Credit are:

l Great food and wine as I am a qualified Chef and so is my husband

l Pilates and walking my dog

l Swimming and water aerobics

l Adult colouring in and word find

l Fudge making

l Watching Lifestyle shows NRL and Golf

l Spending times with family and grandchildren

l Travel Australia, NZ, Europe and UK

l Reading true life stories.

The Australian Institute of Credit Management welcomes our Partners for 2024

south australia

President’s Report

The council have been excited to be holding a Trivia Night on Thursday 8th of August. Elizabeth Dobbie and Lisa Anderson have worked hard in planning this event and there are some amazing prizes to be won. We’ve had great attendance to this event, with our SA members keen for a night of trivia, prizes, raffles and good-hearted, healthy competition.

SA’s membership continues to grow, and we look forward to welcoming even more members into our

tight-knit credit community. Our Credit Professional and Young Great Professional of the Year awards are to be held on the 29th of August, and we have some great talent to celebrate. Our Young Credit Professional of the Year candidates are Elizabeth Dobbie from NCI, Hudson Pitt from Polygon Group and Jamie Mead from Oracle Insolvency Services, and the judges have told me how excited they are about these future leaders of credit.

For the Credit Professional of the Year Award, we have Lisa Anderson from Coopers Brewery,

Guests enjoying the WINC Luncheon.

Natasha Janssens.

Lisa Plag (National Credit Insurance Brokers Pty Ltd).

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Adrian Stewart from National Pump, and Troy Hills from Total Building Systems. This award offers a great opportunity to celebrate our experienced professionals, and of whom have given so much to the AICM throughout their careers.

Clare Venema has resigned as President as she takes on her role as the Membership Engagement Manager of the AICM, and I am so happy to introduce myself as President of the SA division. If we haven’t met before, I am the National Credit Manager at Bridgestone Tyres, and last year’s

inaugural Credit Professional of the Year winner. I am pleased to be joined by Lisa Anderson as Vice President, and look forward to exciting times ahead with our amazing division.

– Janice Riley MICM, SA President

Celebrating Women in Credit

– Spotlight on Adelaide’s WINC Luncheon

The prestigious Kooyonga Golf Club was chosen for the new location for the Women in Credit

Alice Carter MICM CCE (Lynch Meyer).

Nick Pilavidis FICM CCE and Natasha Janssens.

Guests enjoying the WINC Luncheon.

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(WINC) luncheon for the Australian Institute of Credit Management (AICM) this year. The event took place on 24th May 2024, moving away from the usual Adelaide CBD setting. This shift was a refreshing change offering attendees a serene and picturesque setting.

The WINC event bought together professionals from the Credit Industry to celebrate the achievements of women. Organised by the AICM, this annual luncheon is a cornerstone for networking, sharing success stories, and promoting professional development among women in the credit sector.

The luncheon featured Natasha Janssens, the

founder of Women with Cents, she is a prominent speaker and advocate for women’s financial empowerment. Her journey from arriving in Australia as a Serbian refugee to becoming a successful accountant, mortgage broker, and financial coach is truly inspiring. Through Women with Cents, Natasha offers financial education and coaching, helping women take control of their finances and build confidence. Her dedication to empowering women through financial literacy makes her a standout speaker and role model.

We had a speaker from Orange Sky Australia, a charity dedicated to supporting people

Anna Taylor MICM (Results Legal).

SA Ladies enjoying the WINC Luncheon

Nicky Titchener (Orange Sky Australia).

Marchesi and Lucas Patchett (Orange Sky Australia).

experiencing homelessness, that continues to make a significant impact across the country.

Founded in 2014 by Nic Marchesi and Lucas Patchett, Orange Sky offers free mobile laundry and shower services, creating a safe and supportive environment for those in need. The charity’s mission is to positively connect communities through clean clothes, warm showers, and meaningful conversations, helping to restore dignity and hope to many Australians.

The stories told show that whether through professional recognition, community service, or financial education, they paint a picture of a community dedicated to fostering growth, dignity, and empowerment for all. Getting involved in AICM events is a great way to stay connected and engaged in the credit industry.

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.

Nic

Kylie Summers (City of Charles Sturt), Carmel Boffa (City of Adelaide), Wilma Oyarzun (SA Power Networks), Candice Kerwin MICM (ARMA) and Annette Martin (City of Charles Sturt).

western australia | northern territory

President’s Report

It’s been a busy time with a few interesting events over the past few months, in May 2024 we had our second WA Golf Day and it went off like a bang. We had double the teams from last year and the weather was predicted to be ‘stormy and thundershowers’ and it ended up being glorious and sunny! NCI was our big sponsor for the day and put in a team or two as well. A big thank you as always to our NCI team lead by Dan Czaplinski.

June brought in our Women In Credit Luncheon held at the “QT” in Perth’s CBD, we had a very good turnout of members and the event was a success. It is also with much pride that for 2024 80% of funds from WINC will support OrangeSky Australia. 20% of the funds went to our AICM Education Foundation. Lisa Sprlyan, Senior Operations Officer gave us a 30-minute talk on what OrangeSky does in the wider community.

privilege to hear Natalie’s journey and about her experiences.

Our guest speaker was Natalie Medhurst, former Australian Netball Captain giving us her insights into the challenges of being a professional athlete as well as a mother with a career. It was a

Now with August upon us, we are all looking forward to our Young Credit Professional of the Year and our Credit Professional of the Year awards. This is our Gala Night being held at the DoubleTree Hilton at Northbridge in Perth on 15th August. This is going to be a special night for our YCP winner and our CP winner and we are all going to be there to cheer them on!

Our AGM is being held virtually on 21st of August

Allison Sillaots, Sumeeta Kabra, Krystal Hayes, Tanya Fisher MICM, Kate Meulenkamp, Nadia Kirk and Cameron Miller MICM.

Natalie Medhurst, Nick Pilavidis FICM CCE, Cheri Bowater MICM CCE and Linda Sprlyan.

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and I encourage as many members in WA as possible to be there and participate in what we do as councillors in our WA/NT Division.

I want to thank the WA Division Councillors who work very hard as volunteers to make sure the AICM functions and activities are successful and enjoyable for all members. They also work behind the scenes to ensure we are all recognised in the AICM Publications. I could not fulfil the role as President if I did not have this talented group of individuals backing me up on council. Well done, Gentlemen.

Looking forward to our Credit Nexus in December with a roof top atmosphere and a few celebratory drinks! Mark your calendars, December 7th folks! Stay well and happy.

– Cheri Bowater MICM CCE, WA/NT Division President

Women In Credit

Western Australia held their Women In Credit Luncheon on Friday 14th June at the QT in Perth and we had 82 attendees and some fabulous food,

Claire Keane and Chloe Fletcher (City of Stirling), Georgie Duselli (Curtin University of Technology), Stella Hulm MICM CCE (ARMA), Ben McCallum (Water Corporation) and Diane Teather (ARMA).

Women in Credit luncheon.

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raffle prizes and networking afterwards in the rooftop bar at the QT. Really great venue centrally located in the Perth CBD.

We had many CCE’s and FICM’s in attendance and a few listed below received special milestone certificates:

l Damian Barr MICM, AMPAC Debt Recovery

– 5 years

l Robert Webster MICM, AMPAC Debt Recovery

– 5 years

l Melissa Sharpe MICM, Turner Engineering

– 5 years

l Melissa McVey MICM, Fleetcare – 10 years

l Sarah Bracegirdle MICM, NCI (Brokers) Pty Ltd

– 20 years

l Cheryl Dickinson MICM Vinidex Pty Ltd – 20 years

Our chosen charity for this event was Orange Sky, and we had Senior Operations Specialist, Lisa Sprlyan give us a talk on her role with Orange Sky. Given our theme this year of Empowering Women through Education this year, 20% of funds raised at the 2024 WINCs will be allocated to the AICM Education Foundation to be used towards advancing the credit careers of woman unable to fund education personally or through their employer.

It is also with much pride that for 2024 that 80% of funds from WINCs will support Orange Sky Australia.

Orange Sky Australia was founded in Brisbane in 2014 and is the world’s first free mobile laundry and shower service. A few years after Nic and Lucas graduated from school, when they were

Cheri Bowater MICM CCE and Cheryl Dickinson MICM (Vinidex Pty Ltd) receiving her 20 year anniversary certificate.

Cheri Bowater MICM CCE and Melissa Sharpe MICM (Turner Engineering) receiving her 5 year anniversary certificate.

Cheri Bowater MICM CCE and Robert Webster MICM (AMPAC Debt Recovery) receiving his 5 year anniversary certificate.

Cheri Bowater MICM CCE and Damian Barr MICM (AMPAC Debt Recovery) receiving his 5 year anniversary certificate.

western australia | northern territory

just 20, they hatched the idea to throw two washing machines and two dryers in the back of an old van (Sudsy) with a plan to visit parks around Brisbane to offer free laundry services to those in need.

Since these humble beginnings Orange Sky now operates 66 services in 41 locations across Australia.

Did you know that:

l Females accounted for 81.7% of the 6,067 increases in people experiencing homelessness from 2016 to 2021

l One of the largest growing groups of people experiencing homelessness in Australia is women over 55 years.

Our Guest Speaker was Natalie Medhurst former Netball Captain for Australia, she gave us an inspirational talk about the challenges of women in sport, the challenges of family life & motherhood, and about the challenges of a professional career post sport.

Natalie Medhurst participated and played in the 2014 Commonwealth Games, 2015 Netball World Cup, 2016 & 2017 with the Diamonds playing in World Championships. She has been a Netball playing member of the Adelaide Thunderbirds, Queensland Firebirds, West Coast Fever, Collingwood Magpies and Melbourne Mavericks. She has represented Australia on a National Level for 10 years from 2007-2017. We were so privileged to have had Natalie come and speak to us about her journey. Many of

our WINC attendees said it was one of the best speakers they have seen in a long time and very inspirational. It was a great afternoon, and we are already planning for the next WINC for 2025!

The Australian Institute of Credit Management welcomes our Partners for 2024

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.

Cheri Bowater MICM CCE and Melissa McVey MICM, Fleetcare receiving her 10 years certificate.

Cheri Bowater MICM CCE and Sarah Bracegirdle MICM, NCI (Borkers) Pty Ltd receiving her 20 years certificate.

victoria | tasmania

President’s report

Mid year is always a great time to reflect on the first 6 months of the year. I am filled with immense pride as I recognise the extraordinary journey we have embarked on together so far. This year has truly highlighted our collective resilience, dedication, and unity as a team.

We have experienced numerous significant milestones within the VIC/TAS council this year. Our May WINC event was a standout success, with a sold-out attendance that brought together professionals from various industries to celebrate women’s achievements.

I want to extend my heartfelt gratitude to every member of our association. Your dedication, passion, and unwavering support have been the foundation of our success. A special thanks to our council volunteers, the unsung heroes who have devoted countless hours to ensure the success of our state initiatives.

Last month, we also celebrate the impressive achievements of the VIC/TAS Credit Professional

winner, Darren Tran and our VIC/TAS YCP winner, Amanda Rothwell-Hiscock MICM. Both Amanda and Darren, will represent VIC/TAS at the National Conference in October. Your accomplishments are a testament to what can be achieved through hard work and dedication, setting a high standard that inspires us all. We wish you all the best!

Looking ahead, we are eagerly anticipating the opportunities to come. Melbourne is excited to host the 2024 AICM National Conference in October. If you haven’t yet booked your tickets, now is the time. It promises to be an event you won’t want to miss.

Our VIC/TAS council will continue to drive positive change and organise successful networking events. Together, we will build on this year’s achievements and make an even greater impact.

Thank you all for your incredible contributions. – Mary Petreski FICM CCE, VIC/TAS President

Celebrating the awards night.

Brigid Nichols MICM with YCP winner Amanda RothwellHiscock MICM and Michelle Carruthers MICM.

Sherif Hussein FICM CCE with Michelle Carruthers MICM, Mary Petreski FICM CCE and Jeff Hurst LICM CCE.

Vic/Tas Awards Night

On the 18th of July, we hosted the awards night at the prestigious RACV Club. The night celebrated the Young Credit Professional (YCP) and Credit Professional (CP) in VIC/TAS. We gathered to celebrate exceptional achievements in the credit industry and to honour individuals who have demonstrated remarkable skill, dedication, and innovation.

We proudly highlighted our outstanding finalists, who represent the future of the credit profession. Their exemplary talent and commitment to excellence serve as an inspiration to us all.

We were delighted to have Brigid Nichols, our 2023 state YCP finalist from Tasmania, serve as the event’s MC. Brigid’s hosting was superb, and she

Congratulations to the 2024 Vic/Tas CP Finalists Darren Tran MICM, David Haysom MICM CCE, Paul Canavan MICM CCE and Tony Truong MICM.

Congratulations to 2024 Vic/Tas YCP Finalists: Amanda Rothwell Hiscock MICM, Annabel Darvall, Eloise Cowan MICM and James Short MICM.

Craig Brooks MICM from illion presenting the 2024 Vic/Tas Credit Professional of the Year Awards.

Brigid Nicholls MICM with CP Awards sponsor Craig Brooks MICM from illion.

victoria | tasmania

played a key role in celebrating the efforts of each finalist for the 2024 YCP and CP awards.

The success of the YCP and CP awards is also thanks to the generous support of our sponsors. Their commitment and industry expertise have been vital in nurturing our finalists and setting them on a path to success. A special thank you to ARMA Group and CreditorWatch for sponsoring the YCP, and to illion for sponsoring the CP.

This year, Amanda Rothwell-Hiscock was named the YCP state winner and Darren Tran won the CP award.

We extend our heartfelt thanks to all our YCP finalists Eloise Cowan (NCI), Annabel Darvall (Recoveriescorp) and James Short (Reece Group), and our CP Finalists Paul Canavan (Simplot), David Haysom (FUCHS Lubricants) and Tony Truong (Bizcap). Your dedication strengthens our industry

and ensures its ongoing growth and innovation. Your passion defines the future of our profession.

Best of luck to our state finalists as they prepare for the National Conference in October. We are here to support you throughout this journey.

Also, a key shout out to our membership milestone recipients;

l Jasmine Kua – 5 years

l Tony Truong – 10 years

l Paul Canavan – 30 years

l Tracey Rothwell – 30 years

Tasmania Women in Credit

On 21 June 2024, industry professionals gathered at the scenic Bellerive Yacht Club for the Women in Credit Luncheon, with its stunning marina views, the venue provided the perfect backdrop for an

Tasmania WINC keynote Speaker Robyn Sutcliffe.

Debbie Leo MICM from Equifax presenting at the Hobart WINC luncheon.

Women in Credit Luncheon attendees.

afternoon of insightful discussions and meaningful connections.

Our women in credit lunches are often the highlight event of the year for many of our members. The event was smoothly MC’d by Brigid Nichols, the 2023 Young Credit Professional (YCP) finalist, who ensured a welcoming and engaging atmosphere throughout the afternoon.

The attendees were treated to a compelling talk from our keynote speaker of the afternoon Robyn Sutcliffe, a renowned Relational Intelligence Coach and Presenter. Robyn delivered an incredibly insightful presentation on how education can empower women to maximise relationships, enhance well-being, and overcome unhealthy behavioural patterns. Robyn’s practical strategies and insights into relational intelligence were well-received, leaving the audience inspired and equipped with actionable advice. She highlighted the importance of addressing both belief and behaviour, offering evidencebased tools to foster healthier relationships and build resilience.

Participants appreciated Robyn’s relatable approach, as she seamlessly blended personal anecdotes with professional insights. The intimate setting allowed for deeper engagement, and the audience responded enthusiastically, participating in lively discussions, and ensured that every voice was heard. Attendees left with a renewed sense of purpose and a toolkit of strategies to implement in their personal and professional lives. The success of the event was also made possible by the generous support of sponsors Equifax, Results Legal, and NCI. Their contributions were instrumental in bringing this impactful luncheon to life.

victoria | tasmania

Eloise Cowan MICM from NCI.

A captive audience at the WINC.

Team Woolworths Hayley Oswin MICM, Brigid Nichols MICM, Teena Ryan MICM, Skye Callinan MICM and Nicole Bridges MICM.

victoria | tasmania

Member in Spotlight

Tony Truong MICM

Tony Truong, a seasoned credit professional with over a decade of experience, has navigated the complexities of the finance industry with determination and a commitment to continuous learning. Currently serving as the Chief Credit Officer at Bizcap, Tony’s journey from entry-level roles to senior leadership has been marked by his keen understanding of credit management, a passion for mentoring, and an ability to adapt to an ever-evolving industry landscape. In this article, Tony shares insights from his career, offering advice and reflections that are sure to resonate with both emerging and established professionals in the credit field.

How did you get into credit?

What challenges have you faced post-COVID?

The COVID-19 pandemic presented unprecedented challenges, particularly in understanding how clients would manage their financial obligations amid widespread business closures and economic uncertainty. It was a time that required us to go beyond traditional credit assessments and really engage with our clients on a personal level, offering empathy and tailored solutions to help them get through the crisis.

After graduating from university, I had a strong desire to pursue a career in finance, but getting my foot in the door was much more challenging than I anticipated. Every interview seemed to end with the same question: ‘What experience do you bring to the table?’ At that time, all I had was my degree and a passion for finance, but no real-world experience to back it up. I quickly realised that if I wanted to make it in the industry, I needed to build my skills and knowledge base.

I spent the next two years taking on various roles – working in call centres, handling administrative tasks, and taking on anything else that would help me develop the skills I needed. These roles, while not glamorous, taught me a lot about attention to detail, customer interaction, and the importance of persistence. Eventually, a break came when a colleague from BP Australia helped me land an entry-level position in their credit department.

From there, I spent over a decade at BP, gradually climbing the ranks from a credit assessor to a senior credit analyst. This long tenure provided me with a deep understanding of credit management and risk assessment. When I felt I had reached a ceiling at BP, I transitioned into the FinTech space, leading credit teams and eventually taking on my current role as Chief Credit Officer at Bizcap. Each step in my career was a learning experience that prepared me for the challenges ahead.

Even now, as we move further away from the peak of the pandemic, new challenges continue to emerge. Fraud has become one of the biggest issues we face in the credit space. The sophistication of fraudulent activities has increased, making it more important than ever to scrutinise the financial information presented by clients. We’ve had to implement more rigorous checks, going beyond standard profit and loss statements to ensure that the numbers reflect actual business performance and not just inflated figures. It’s a constant battle to stay ahead of these tactics and protect our organisation from potential losses.

What makes for a great credit manager?

A great credit manager understands that credit management is about far more than just crunching numbers. It’s about assessing risk in a holistic way and ensuring that the credit you extend can be recovered in a timely manner. You need to have a keen eye for detail and an ability to read between the lines when evaluating a client’s financials. But more importantly, you need to consider the character of the person or business you’re lending to. Just because someone has the financial capacity to pay doesn’t guarantee that they will follow through on their obligations.

As a credit manager, it’s crucial to balance risk and reward, making informed decisions based on all available data. There’s no such thing as a perfect decision, and if there were, our jobs wouldn’t exist. The challenge is in making the best possible decision with the information at hand, understanding that every situation is unique. Over the years, I’ve learned that you can’t rely solely on past history or credit scores; you have to consider each case on its own merits and make a judgment call that balances risk with the potential for reward.

What are some of the highlights of your career?

Reflecting on my career, one of the biggest highlights has been my ability to progress from an entry-level role to becoming the Chief Credit Officer at Bizcap. Each stage of my career has been marked by continuous learning and the determination to prove my value to the organisations I’ve worked for.

I believe strongly in the idea of earning your place within an organisation. Rather than focusing on titles or promotions, I’ve always prioritised demonstrating what I can contribute. This mindset has allowed me to build a solid reputation in the industry and achieve positions of greater responsibility. For me, the journey has been just as rewarding as the accomplishments, and each step has been an important part of my professional growth.

What advice would you have for a younger credit professional?

For young credit professionals looking to advance in their careers, my advice is to put your ego aside and focus on continuous learning. Experience is something that can’t be gained overnight; it’s built over time through exposure to different situations, industries, and challenges.

Finding a mentor who has walked the path before you can be invaluable. Don’t be afraid to ask questions and seek advice from those with more experience. The knowledge and insights you gain from experienced professionals will help you navigate complex decisions and avoid common pitfalls. Remember, there’s always something new to learn in this field, and the more you can absorb from others, the better equipped you’ll be to make sound decisions in your own career.

What have you gotten out of the AICM?

The AICM has been an incredibly valuable resource for me throughout my career. One of the key benefits has been the networking opportunities it provides. The connections I’ve made through AICM have been instrumental in helping me navigate various challenges in the credit industry.

Beyond networking, AICM offers a wealth of industry knowledge and resources that help keep members informed about the latest trends and developments. In an industry that’s constantly

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evolving, staying up-to-date is crucial, and AICM has been a great partner in helping me do that. Whether it’s through industry events, educational resources, or simply the ability to pick up the phone and call a fellow member for advice, the benefits of being part of this community are significant.

What do you do outside of work?

When I’m not at work, my focus is on my family. I’m married with two kids, and weekends are dedicated to spending quality time with them. Balancing a demanding career in credit management with family life can be challenging, but it’s important to make time for the things that matter most. With the pressures of work, especially in the current economic climate, it’s easy to get caught up in the day-to-day grind, but making time for family is essential for maintaining a healthy work-life balance.

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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Presidents Report

The conclusion of the financial year has passed once more for some, and it won’t be long before the next one arrives.

Since the last publication of our magazine, there have been numerous events in NSW, including the judging of the Young Credit Professional and Credit Professional, with ARMA and Creditorwatch sponsoring YCP and illion sponsoring CP. The quality of this year’s finalists was truly remarkable, and we wish them all the best for the awards night which will be held on the 8 August 2024.

Additionally, NSW had its annual WINC at the QVB tea room, which had a fantastic turnout thanks to our sponsors Equifax, Results Legal, and NCI. Without the support of our sponsors and attendees, who make these events possible and help to create a strong and vibrant credit community in NSW these events would not be possible.

Lastly an “Olympic” themed Trivia night was held, featuring lots of laughter and two former Olympians in attendance. Everyone had the chance to hold the Sydney Olympic Torch and take photos, making it a memorable evening. Thank you to all who participated.

– Sev Indrele MICM CCE, NSW President

NSW Trivia Night

AICM Trivia is back! The NSW Social Trivia event was held on 25 July at The Commercial Hotel in Parramatta.

Sponsored by ARMA the night was a blast. All the delegates had a fantastic time. We celebrated the Paris Olympics with trivia, competition, and many fascinating facts.

The winning team was the team from Matthews Folbigg Lawyers. Well done Jeffrey Brown, Stephen Mullette, Hayley Hitch, Jodie Rodrigues, Jacob

Winning Trivia Team.

Keely Wynsch and Sev Indrele MICM CCE.

Grant Morris LICM CCE and Sev Indrele MICM CCE.

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Reardon, David Burley and Keely Wunsch. Their podium photo was made even more special by the inclusion of a Sydney Olympic torch. That special momento was brought in by Odette Lafourcade from Byron Thomas Recruitment. She also brought in her coach, so we had not one but two Olympians in the game.

Holman Webb Lawyers donated a beautiful hamper that the winning team took home. A lovely gesture! Keely and the team at Matthews Folbigg Lawyers looked the part with their trophy.

EDX donated 8 bottles of wine which were awarded to teams and individuals during the night for winning activities. The games included various trivia and knowledge games.

AICM members regularly share in their interviews to me how much they value the friendships they make. This kind of event is what its all about. Thanks again to ARMA for sponsoring such a fun event.

NSW WINC

We had a wonderful day at the AICM NSW Women in Credit Luncheon (WINC) held at the QVB Tea Rooms on 17 May. Our MC was AICM Director Theresa Brown.

The WINC event could not function without the generosity of our sponsors Equifax represented by Debbie Leo, Results Legal represented by Anna Taylor and NCI represented by Natalie Hodges and Jacqui Ross. Members enjoyed the beverages, canapes and delicious lunch whilst Theresa warmed the crowd and presented the membership anniversaries with NSW President Sev Indrele.

Ashley Dick from Orange Sky spoke about the amazingly selfless work they do. They are a charity that creates a safe, positive and supportive environment for people who are too often ignored or who feel disconnected from the community by providing a platform to connect through a regular

Celebrating member anniversary milestones at NSW WINC.

Sev Indrele MICM CCE and Rhys Boydib MICM.

Neill Borg MICM and Sev Indrele MICM CCE.

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laundry and shower service. With a growing number of Aussies experiencing homelessness and hardship this is important work.

Following Ashley, Debbie spoke about WINC, its history and why Equifax chooses to support this great event plus shared some personal experiences over her career. She then introduced our guest speaker Natasha Janssens. Natasha was inspiring and spoke about women today mastering their finances for now and future planning (a fun game of heads or tails was part

of the deal)! It was thoroughly entertaining and inspiring. The 2024 WINC series is focused on “Empowering Women through Education”. Twenty per cent of the funds raised are put towards supporting the AICM Education Foundation, with the remaining eighty per cent to support laundry and shower services charity Orange Sky Australia. It’s a privilege for AICM members to support these incredibly worthy causes.

Natalie Hodges and Jacqui Ross of National Credit Insurance then announced the raffles

Charlie Broughton MICM with Suyaty Tandi MICM.

Anna Taylor MICM from Results Legal.

Guests enjoying the NSW WINC Luncheon at the QVB Tea Rooms in Sydney.

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and lucky seat prize, kindly donated by NCI. Notable prizes included Kris Collins from Trace Personnel who won a signed tennis ball from Ash Barty in the silent auction, plus each table

enjoyed chocolates and a custom NCI Wine – ‘The Specialist’ NCI’s very own designed, blended and created Shiraz from McLaren Vale, SA. It was another successful WINC event in NSW.

Lee Clarke, Samantha Wills and Paul Kollias MICM.

Jacinta Highfield MICM, Jacinta Janzen and Jennifer Noonan MICM from Equifax.

Maja Dunimaglovska MICM with Sev Indrele MICM CCE.

Treacy Sheehan MICM, Theresa Brown MICM CCE and Balveen Saini MICM CCE.

Sonia Nixon MICM and Kimberley Watts MICM CCE.

Ashley Dick from Orange Sky Australia.

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AICM Members in Focus

Kimberley Watts MICM CCE

What has been your career journey?

I started my career at 19 in collections and have spent the last 18 years in various roles within the financial services sector, predominantly client facing. The main businesses I have worked for have been Creditcorp, Collection House, Baycorp and illion. The early positions were in collections starting as a debt collector. Over time I grew in my roles and was promoted to lead teams. Eventually, I moved into more operational roles such as Operations Manager and these then transitioned into Sales and Business Development. I was promoted to Sales Director in early 2023. My experience spans collections, bureau services, credit risk and decisioning solutions covering the whole credit life cycle.

My first role was at Creditcorp, where I began my career in debt collection without fully understanding the position I had applied for. At the time, financial services roles were often advertised as “customer service representatives” due to the different perception of debt collection. I quickly discovered how much I enjoyed it, especially the problem-solving aspect of helping customers with financial issues. I saw myself as a bridge between the company and the customer, ensuring that every payment arrangement was beneficial for both parties. It was incredibly fulfilling to achieve positive outcomes for consumers while also meeting the company’s goals. I spent the first six years of my professional career in collector roles.

I held several similar roles with increasing responsibility, eventually moving to Baycorp in 2015. There, I was hired into a management role for an ATO project, leading a team of 50 staff. My success on this project soon led the General Manager to invite me to apply for a Business Development Manager (BDM) role, marking my first venture into sales. After approximately two years at Baycorp, I transitioned to Credit Solutions.

At Credit Solutions, I served as both the Operations Manager and BDM. My responsibilities included running teams across the eastern seaboard and expanding client partnerships. As the business grew rapidly, I leveraged my connections with external clients from my BDM days to support

Credit Solutions. My extensive network and experience made me a great fit for the company. I took a career break after having my third child in 2019 but that didn’t last as long as I expected. I needed some extra mental stimulation, so I joined ComfortDelGro in 2019 as a recovery specialist for insurance claims. My role was to set up frameworks to recover accounts and this had immediate effect. We brought down outstanding insurance amounts drastically within the first 12 weeks of my deployment. It was a career pivot to focus on insurance and claims but I enjoyed working with the underwriters, insurers and assessors. CDC then presented the opportunity to me to work directly with the CEO, where I was placed into a project coordinator role, helping run tender submissions. In 2020, just before COVID-19, I was headhunted to join as a National Account Director at illion based on my experience and strong connections into telecommunications and utility clients. Telco and utilities had been a specialisation I developed over my career and this gave me a great head-start. I quickly expanded the services we provided to one of their major telco clients and achieved targets within the first half-year. This was because I really listened to what they needed and problem solved to find the best solutions. I like to understand what is happening within a business and tailor the solution so that it will meet their needs. My success with enterprise accounts and internal stakeholder engagement saw me promoted to a Sales Manager role, then in quick succession to Sales Director of Corporate Service. Although it is a leadership position, I really enjoy that I am still maintaining client-facing responsibilities. Just like my first role I get to work both sides and find outcomes that benefit the customer, my team and company, I pride myself on being the conduit between each.

What is your biggest professional accomplishment to date?

My biggest accomplishment isn’t tied to any single deal or project, but rather to maintaining a successful career at 37 while raising a big family with four children. I cherish the time spent on both fronts; my family brings immense joy and happiness, while my work challenges me mentally and pushes my boundaries. This balance is a testament to my tenacity, hard work, and unwavering drive to learn and achieve.

One key to my success has been my willingness to ask for help when needed. Whether it’s support from family, utilising daycare, or hiring cleaners to manage time effectively, seeking assistance has allowed me to maintain productivity and achieve a fulfilling balance between my personal and professional life.

What advice can you give to emerging credit professionals?

Stick with it. There were times I questioned my path in financial services but aligning myself with institutions that share my values and beliefs has kept me focused and driven. Employment should be a partnership, find what you love and work for people and organisations that believe in you.

How long have you been a member of the AICM?

I have been a member since 2015, thanks to a recommendation from Arthur Tchetchenian, my client at Transurban at the time. Arthur suggested I apply for the Young Credit Professional of the Year award after we established a strong connection. He invited me to an AICM Trivia night event, where I met Colin Magee, the then-president of NSW AICM. Both Arthur and Colin encouraged me to apply. I went through the interview process and won the 2015 NSW award. The judge’s feedback that I was genuine really solidified my belief in how to approach people in business. I’ve been an AICM member ever since.

What has being a member of the AICM done for you, and how did you get involved in the NSW AICM Council?

I joined the AICM Council immediately after winning the NSW Young Credit Professional award. Serving on the council has allowed me to meet incredible people and form lifelong friendships with mentors like Arthur, Balveen, and others. I took on the sponsorship and events portfolios, eventually passing the torch to new and enthusiastic members after a few years.

This year, I earned my Certified Credit Executive (CCE) accreditation. The process was intensive, but I highly recommend it.

The AICM has been instrumental in my career, helping me connect with clients and businesses and expand my professional network. I would not be where I am today without its support.

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What are your favourite activities outside of your profession?

I have been an avid netball player since the age of five, participating both competitively and socially, and coaching. My husband Matthew and I work as a team, with his support playing a crucial role in helping me excel in my career and balancing a strong and loving home life. My mum, a former military woman and a straight shooter (no pun intended), lends a hand every Tuesday, among the many other favours we ask of our parents. She is another person I attribute my drive and success to.

As a family, we relish beach holidays, board games, and fiercely competitive rounds of Uno that can rival Olympic events. Our Uno games are no laughing matter; alliances are formed, strategies are devised, and grudges are held – until dinner time, of course. We even have a “No Cheating” rule, which everyone interprets creatively.

The beauty and chaos of our busy lives are something I cherish. Our days are packed with swimming, netball, soccer, and lively gatherings with friends and family. Whether it’s racing to the pool, juggling netball practice, or cheering on a soccer match, there’s never a dull moment.

Balveen Saini MICM CCE

Please confirm your position/ company you work for currently  Senior Associate, BBW Lawyers

What has been your career journey?

I began my professional career by working in the Accounts Receivable/Credit team at Kennards Hire while I was at university studying Commerce and Law.

In the team I performed a quasi-collections/ legal role which included dispute resolution, recoveries, contractual disputes, and enforcement of guarantees. I was fortunate enough to be exposed to different facets of the business and gained a lot of experience in making commercial decisions. I worked closely with commercial agents, insolvency practitioners, lawyers and entered into negotiations with them, which I enjoyed. We also worked extensively on changes related to the Australian Consumer Law, Privacy Act 1988 and the Personal Property Securities Act 2009. I also gained exposure to various industries that support the credit industry through the Australian Institute

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of Credit Management (AICM) and worked on streamlining processes in the business. It was a role that gave me a fantastic breath of involvement in credit. I continued working at Kennards Hire until I completed my degree which meant I had many years of legal/commercial experience by the time I had graduated.

Shortly after graduating I started working at BBW Lawyers. The firm was established by the partners who wanted to change the traditional law firm structure, finding a balance between working hard and family, providing exceptional service to clients, and treating people well. BBW Lawyers has an open-door policy and a friendly, familiar environment. Within the commercial team at BBW Lawyers, we manage disputes, debt recovery, provide advice, assist businesses at the frontend and back-end of any legal issue i.e. mergers and acquisitions to a sale of business transaction, employment, property, intellectual property, shareholder disputes, and litigation. I enjoy advocating in Courts and Tribunals and ensuring clients receive the best advice and service. I have been at BBW Lawyers for over 10 years now and really enjoy the community of people that surround me from my colleagues, to the clients to my wider industry associates.

What is your biggest professional accomplishment to date?

I have a few. My proudest moment was my admission as a lawyer. One of the most complex matters I worked on a number of years ago, which I learnt a lot from, was an insolvent trading situation. In this particular matter, the client was an insolvency practitioner and came to us as the directors had engaged in conduct which not only breached their obligations pursuant to the Corporations Act 2001, but also to the creditors and shareholders. In addition to insolvent trading (which we know hurts creditors), there was a whole raft of other issues which arose i.e. director related transactions and suspected phoenixing. We sought injunctions, froze bank accounts and seized property all in the best interest of the creditors. Overall, I take pride in the advice I give to clients, and it being the right advice in any given situation. For instance, my commercial background enables me to advise on the strengths and weaknesses of a case prior to a formal deliberation/

judgment, which in turn means that I can assist the client in managing their legal and commercial considerations.

What advice can you give to emerging credit professionals?

Don’t limit yourself to the ‘old school’/stereotypical views of credit. It’s much bigger than an accounts receivable or accounts payable role. Understand how the entire credit ecosystem works, from collections to credit management, working with insolvency practitioners to PPSA representatives and utilising the information and technology available from bureaus. Exposure to different aspects will help you in your role, education is important and that is why the AICM is a great place to start.

How did you get involved in the AICM and then the NSW AICM Council?

When working at Kennards Hire, the National Credit Manager nominated me for the Young Credit Professional (YCP) of the Year Award (YCPA) in 2013. I went through the process and it worked out well – I won the state award followed by the National award. The support of the AICM members who took me under their wing and mentored me was incredible, and they will never be forgotten.

As the YCPA we get a seat on the respective state council for 12 months, I enjoyed the team and stayed on after that. It was fun to be a part of something important and larger. I started on the events subcommittee, became Vice President, and then President, serving a total of 8 years on the NSW Council.

Why do you think the judges selected you for the 2013 YCP Award?

The judges feedback was that I was a strong advocate for YCP’s with a sound understanding of credit and the different areas of credit. I was also told that I am a good communicator, which is beneficial when meeting new people and networking.

What has being on Council of AICM done for you?

Being involved in the NSW Council was an invaluable experience. I’ve made long standing friendships and professional relationships, stayed up to date with industry changes and reforms, and

belong to an industry which also provides me with a sense of community.

What do you outside of work?

Life outside of work is all about family – I have husband and two daughters, aged 5 and 2. Any free time that I do have (which is a rarity as I work full time), is spent with my extended family, friends, cooking delicious food, and enjoying good wine. I also enjoy running – half-hour of some me-time, listening to my favourite tunes helps maintain my sanity. My girls love swimming and dancing, so it is not uncommon for us to have a loungeroom dance party on a Saturday night, in our PJ’s!

Andrew Smith MICM CCE

Please confirm your current position and the company you work for: Andrew Smith, CEO and Managing Director of the Board of Credit Clear, ASX: CCR.

What has been your career journey?

Like many, I stumbled into a career in credit collections. I completed a business degree in Newcastle whilst also concentrating on sports. This led to an opportunity to play professionally in the NRL but instead of settling down I decided to go overseas to the UK and broaden my horizons.

Going to the UK was a good choice. In the UK I still played sport by playing rugby union for ESHER. However I found sport opened doors to numerous professional relationships. These led to a role in sports marketing and sponsorships. I worked with incredible brands like Manchester United, Vodafone, Ferrari, and even toured with the Wallabies in 2002. After a few years I needed to decide if I was going to stay in the UK or come home. I came home and soon got a role as Head of Sponsorships at Vodafone but soon realised the Australian market was too small for the career I wanted.

A chance encounter with the CEO of a large recruitment firm led to some job interviews and I landed a role with Dun & Bradstreet (D&B) which started my credit career. In 2004, I joined D&B as Junior Account Manager in credit reporting. I did well and discovered my talent for sales, eventually becoming a Business Development Manager (BDM). After a few year I was headhunted to take a new role as a Senior Account Manager at Experian,

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where I was promoted to Sales Manager. This was my first people leadership role. Our team won Best Sales Team of the Year. I was then headhunted back to D&B with a much bigger role. In this I led two teams in Credit Reporting and Debt Recovery, managing the largest budget in the business.

Following a private equity sale at D&B the development opportunities that my leaders had lined-up for me dissipated. I was faced the decision of either rebuilding from scratch or starting anew. I chose to start my own debt recovery business.

The industry needed a new and modern, empathetic approach to collections. This led to the founding of Australian Recoveries & Collections (ARC). Back in those days when you spoke to a debt collector the usual conversation was along the lines of “youre gonna pay, we will just find out how” but with us we rather wanted to understand why they couldn’t afford the payments so we could understand the situation. We found workable solutions that led to better performance and less friction between the agency and the end customers. The assertive methods of collection just didn’t work as well as our empathetic approach. I think this has left a lasting imprint on the industry. ARC thrived due to our unique approach. We grew quickly. But a sudden partnership breakdown led me to yet another decision point. I left.

In 2014 I started Australian Recoveries & Mercantile Agents Pty Ltd (ARMA). I put everything I had learnt into this new venture. Our business grew rapidly and most of my previous team followed me to the new venture. Soon our clients who were equally loyal to us followed. Within 18 months we were twice as big as my first debt collection business. We expanded into different sectors such as insurance and government while maintaining strong B2B connections.

In 2021, after six years and seven months, we sold ARMA group, including its subsidiaries Force Legal and NZrecoveries, to Credit Clear. Credit Clear’s innovative technology presented an opportunity for growth that ARMA couldn’t achieve in-house.

The sale led to another big decision but this was a decision made by others. Upon completion of the deal, the board wanted me to take the helm as CEO of Credit Clear. This market a significant shift from running a privately owned business to leading a publicly listed company. This new role has

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exposed me to new experiences and challenges. It completely elevated me outside of my comfort zone. I love spending time with so many incredible people – high-net-worth individuals, industry leaders. It was a great way to remotivate. Having to learn a whole new world.

What is your biggest professional accomplishment to date?

The most significant accomplishment was the sale of ARMA group to Credit Clear within seven years of operation, with a valuation of over $51 million. Achieving this in a saturated industry, in a business that was fully self-funded was an exceptional experience and a shared success. Even sweeter we did it with the support of family and friends who are our colleagues.

What advice can you give to emerging credit professionals?

Never underestimate the value of networking and building meaningful personal relationships in the industry. These connections could become future employers, staff, customers, mentors, or lifelong friends. Most of my success can be attributed to genuine relationships that have organically become mutually beneficial.

How long have you been a member of the AICM?

I have been involved in the AICM for around 20 years although I have been a member for less. I initially joining while at D&B. Then I had a few AICM roles as a we were a major sponsor. I had the opportunity to judge the YCP which I really enjoyed. That hasn’t changed and I’m a big supporter of it today. I was also Vice President for the NSW council for three years.

What has being a member of the AICM done for you? AICM membership has provided invaluable networking opportunities, exposure to industry leaders, and a platform for personal and professional growth. It was through the AICM that I connected with key figures like Grant Morris and Gregg Odlum, who have been influential in my career. I worked with Treacy Sheehan, Malcolm Poslinsky, Dave Hunt. Many of the individuals I judged at YCP ended up being long-term clients. Whether it’s a business relationship or friendship, I attribute the AICM to so much of my success.

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

I enjoy active sports, including snowboarding, waterskiing, surfing, coaching my daughter’s netball, coaching my son’s touch football teams. I also love spending time outdoors and supporting the Newcastle Knights. For holidays, Queenstown in New Zealand and Shoal Bay in Australia are my favourite destinations.

– Gary Poslinsky MICM. NSW

Council.

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

Supporting Sponsors National Partners

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.

We recognise those members who achieved membership anniversaries between April and June 2024. Congratulations to these members on achieving such important milestones.

member anniversaries

new members

The Institute welcomes the following credit professionals who were recently admitted to membership between April and June 2024.

New South Wales

Alex Simmons TPG Telecom

Alicia Croft TPG Telecom

Amanda Gomes Elantis Premium Funding Ltd

Anthony Marino Elantis Premium Funding Ltd

Ashleigh Burke National Collection Services

Bahar Toosie Galderma

Carol Wakeling Imperial Brands Australasia

Christina Lecuna Galderma

Damyan Nehme Southern Steel Pty Ltd

Duc Minh Nguyen Omnicom Media Group

Eugene Salavdor San Miguel Yamamura

Hamish Van Der Byl Grant Thornton

Ishwar Chopra Omnicom Media Group

Jade Yeeles Snap-on Tools Australia

Jean-Louis Pascale Toyota Fleet Management

Jelena Duric Eagers Automotive

Jennifer Szeto Whiting Holdings

Jennifer Scully Toyota Finance Australia

Joanna Daviskas Holman Webb Lawyers

John Aguilan Whiting Holdings

Kate Conneely Cor Cordis

Kate Fullbrook Metro Finance

Kaushik Chatterjee Whiting Holdings

Kevin Pantow Omnicom Media Group Australia Pty Ltd

Kim Robins Electrolux Home Products

Kirstie Newton The Mutual Bank

Lianne Cabsaba Atradius

Lissa King Imperial Brands

Luke Amos Ampol Australia Petroleum Pty Ltd

Marc Dubin QBE

Marcus Debenham TPG Telecom

Maria Leumuava Crane Australia Pty Ltd

Martina Ah Lin LG Electronics

Mathuran Nirmalarajan Snap-on Tools Australia

Melissa Lau Jirsch Sutherland

Melissa White Thoroughbred Recoveries

Quentin Midoux QBE

Rahul Goyal Cor Cordis

Samuel Woodhams Bizcap

Swapna Eadara Omnicom Media Group

Tanzeel Jat LG Electronics

Tara Rosal Bizcap

Tenielle Denham LG Electronics

Timothy Sargeant Chamberlains Law Firm

Valentina Tasic LG Electronics

Yanting Wu Etex Australia

Queensland

Aiden Radak-Lang Agility Law Group

Ashlee Le Roux Access Intell Pty Ltd

Ashley Haythorne Credit Corp Group

Chanece Scholey National Collection Services

Charlotte Farquharson Covetrus

Christina Simonidis Agility Law Group

Cloe Dowson Tradelink PTY LTD

Danielle Green Access Intell

Denise Kelly Ergon Energy

Emma Whiting FeeSynergy

Ethan Fleming Dynamic Supplies

Frances Bacon Ergon Energy

Frosso Papadopoulos Covetrus

Gary Forrest Access Intell

Hazel Warrington Fletcher Building

Joanne Dzieczko Ergon Energy

Laura Harbutt Ergon Energy

Mathew Hough Tough Acquisitions

Patrick Schweizer Alares

Rachel Strong NCI

Richard Cobbett

Ricky Dobrin Credit Corp Group

Stacey Jones Covetrus

Tracy Pelliz National Collection Services

Yolanda Strydom Covetrus

South Australia

Abbie Oliver Beaumont Tiles

Adeline Pascale Lynch Meyer Lawyers

Bianca Tramaglino Lynch Meyer

Candice Kerwin ARMA

Victoria/Tasmania

Adrien Salesse BMW Financial Services

Akok Mayoum Transurban

Belinda Smith National Mercantile Pty Ltd

Bonnie Sutherland Saputo Dairy Australia

Caitlyn Hughes Aurora Energy

Chang Sun Eagers Automotive

Cheryl Moorshead National Mercantile

Christopher Keys Aurora Energy

Clara Martin Aurora Energy

Darryl Parkinson National Mercantile Pty Ltd

Elizabeth Schenk Tasmanian Collection Service

Guy Stevens Slater and Gordon Lawyers

Hamish Jones Aurora Energy

Kellie Langmaid Aurora Energy

Kirandeep Pandher National Mercantile Pty Ltd

Krista Siliili National Mercantile

Krystle Kalabrezos recoveriescorp

Leah Wood Aurora Energy

Leila Guevarra Eagers Automotive

Lydia Hantke Aurora Energy

Natasha Dragwidge BMW Finance

Nicole Davidson Nicole Davidson Negotiation

Pavithra Venkatraman Equifax

Poppy Ketkas National Mercantile

Sada Rashid Transurban

Sana Kalia National Mercantile

Shubham Kapadia illion Australia Pty Ltd

Stav Kalantzis ARMA

Ting Kwan Fok Eagers Automotive

Vanessa Head Fuchs Lubricants (AUS) P/L

Vicki Marriott Aurora Energy

Vivian Liu Mercedes Benz Brighton and Mornington

WillIam Meadows Arrow Mercantile Group Pty Ltd

Zac Partridge Tasmanian Collection Service

Western Australia/Northern Territory

Carole Aird Kee Group Pty Ltd

Jim Wu Synergy

Kaitlin Saltmarsh Covetrus

Kin Yeung Tsai Synergy

Luke Wilson Bunnings Group Limited

Maria Fe Aleta Power Water Corporation

Michael Chau Bunnings Group Limited

Nadia van Deventer Centurion Transport

Patricia Tolliday Eagers Automotive

Rebecca Clarke Best Bar

Rhona Taylor Omnicom Media Group Australia Pty Ltd

Rochelle Smith Power Water Corporation

Seolmin Choi Eagers Automotive

AICM Marketplace

Directory of services

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.

CCSG

Tel: (02) 8568 6539

Web: www.ccsgroup.com.au

Credit Collection Services Group (CCSG) is a leading full-service debt collection agency. We specialise in debt collection, litigation, commercial default listings, portfolio ledger management, and financial hardship management. At CCSG, we understand your challenges, have proven expertise, and protect your interests through robust compliance and best business practices. Our experienced team is dedicated to engaging with people effectively, delivering results that improve cash flow and financial stability for our clients. Partner with CCSG for professional, efficient, and ethical debt collection solutions tailored to your needs.

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.

National Collection Services

Tel: 1300 888 758

Email: info@natcollection.com.au

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

National Collection Services are a boutique Debt Collection Agency that sees ourselves as an ‘extension’ of your internal credit department. We will work with you to form a partnership, with our focus being placed on the associated levels of engagement, support, communication and goals of your organisation.

Divisional Supporting Sponsor

Tasmanian Collection Service

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.

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.

Neill Borg, Enterprise Director

Tel: 0401 066 624

Web: www.decisionok.com.au

Email: neill.borg@credisense.io

DecisionOK by Credisense revolutionises the way businesses acquire new customers. One-size does not fit all. Our platform provides personalised, omni-channel, and unified customer experiences that embody your brand. Orchestrate and analyse thousands of data points and services that automate any process or decision. All from the cloud. All with no coding.

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.

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.

AICM Divisional Partner

AICM Divisional Partner

AICM Divisional Partner

Divisional Supporting Sponsor

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

COLLECTION SYSTEMS

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.

AICM National Partner

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.

INSOLVENCY

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.

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.

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.

AICM National Partner

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.

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

AICM Divisional Partner

AICM National Partner

Divisional Supporting Sponsor

AICM Divisional Partner

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

INSOLVENCY

AICM Divisional Partner

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

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.

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.

Rothwell Lawyers

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

RECRUITMENT

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

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.

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.

Divisional

AICM Divisional Partner

AICM Divisional Partner

AICM Divisional Partner