News Article

Credit Management

Avnet awarded Centre of Excellence status in the UK by the CICM

By CreditMan Monday, April 4, 2016

The Chartered Institute of Credit Management (CICM) has awarded Avnet, Inc. (NYSE: AVT), a leading global technology distributor, Centre of Excellence status in the UK, a credit team’s highest accolade for best practice.

Avnet’s credit team is the third to be awarded the prestigious status by Europe’s largest professional credit management body, and is the first technology company and first based in the south of England to achieve it.

Darren Maynard, Head of Credit, Avnet Technology Solutions, EMEA, says the achievement is a result of five years’ dedication: “We have invested a considerable amount of time and resources into achieving Centre of Excellence status,” he explains.

“Since we started, the visibility of credit within Avnet has been a key achievement,” he continues. “We are now viewed as an essential part of the sales operation rather than a back-office function, and a key contributor to the commercial success of the business."

Darren says that the credit industry has seen significantly increased professionalisation to the extent that credit is now viewed as a career: “We will continue to share our experiences with other companies through events, presentations and meetings to help drive the industry forward.”

Avnet has twice achieved CICMQ status, the CICM’s sought-after quality in credit management benchmark, Darren continues: “Every individual in our credit team is a member of the CICM, and receives continuous development through weekly one-on-one training sessions delivered by the Institute.

“Centre of Excellence status is a fantastic achievement for the team and something of which they can be very proud. It emphasises our dedication to best practice and commitment to delivering value to our business partners,” he concludes.

Chris Sanders, Head of Accreditation – CICMQ, says that Centre of Excellence status is a credit team’s highest accolade: “It requires long-term focus to achieve, and acts as a benchmark for other credit teams and the rest of the industry to admire and aspire to.”

“Avnet is a clear example of a business engaging with the CICM to ensure that team members are developed to their full potential so that their benefit to the business is fully realised. Their department regularly engages with the credit community to inspire others to qualify their teams,” adds Dr Debbie Tuckwood, Director of Learning and Development.

To achieve the CICM’s Centre of Excellence accolade, a firm must deliver: ongoing best practice and continuous improvement in credit management; a culture of continuing professional development and progress towards having qualified credit professionals; and make a significant contribution towards the broader credit community through events, presentations, and sharing examples of its best practice experiences with other credit management professionals.