News Article

Credit Management

CICM signs agreement with Australian Institute to benchmark quality in credit

By CreditMan Thursday, July 30, 2015

In an historic move, the Chartered Institute of Credit Management (CICM) – Europe’s largest professional credit management body – has signed an agreement with its opposite number in Australia to provide its Quality Accreditation (CICMQ) to members of the Australian Institute of Credit Management (AICM).

Under the agreement, the AICM will be licenced to use the CICM accreditation process, documentation and intellectual property. Those who qualify will have access to the same resources currently available to holders of the UK CICM accreditation.

Granting of the accreditation will be overseen by, and subject to the approval of, the CICM for the purposes of assuring quality and maintaining established standards. Chris Sanders, Head of CICMQ Accreditation, will oversee the collaboration on a day-to-day basis.

Philip King, Chief Executive of the CICM, is pleased to see the CICM’s quality programme being recognised on the international stage: “Credit management is a global function and best practice is universal,” he says. “As genuine thought-leaders, it is especially pleasing to see how the method of recognising high standards and benchmarks established in the UK will now be applied to our counterparts in Australia.”

Nick Pilavidis, CEO of the AICM is excited about this opportunity: “This agreement represents a significant addition to the AICMs initiatives focused at improving the standard of credit management and achieving recognition for the role credit function plays within businesses,” he says. “I look forward to many Australian credit operations joining the UK companies currently holding the accreditation and working with these companies and the CICM to further develop the standards of best practice as the credit function continues to evolve.”

Chris Sanders is similarly pleased: “CICMQ is now firmly embedded in the minds of professional credit managers as the recognised standard of excellence to which all credit teams should aspire, and it is exciting that our colleagues in Australia will become the first professional body outside of the UK to promote the accreditation to its members.”

CICMQ is awarded to organisations that can demonstrate ‘best practice’ credit management, which is tested during an independent assessment by CICM approved assessors.