The best business advice, opinion, news and expertise in Greater Manchester and further afield.

Thursday, 26 July 2012

Guest Blog: All Credit To You!

By Professor John Sharp of OLC (Europe) Ltd

It’s a sobering reality but the combined debt of households and businesses in the UK is running at more than twice the Gross Domestic Product, which stands at £1,600 billion. This debt may be coming down, but there still remains a tremendous amount of credit for the UK economy to chase. How much credit has your company allowed? How much of this do you expect to retrieve?

“The deepest recession in living memory, accompanied as it was by a debt crisis." - David Cameron, UK Prime Minister, talking about recovery from the current recession (April 2012).

The eternal challenges of the credit manager are: How much credit should I allow? To whom? For how long? How much risk does this mean for my company? Getting the balance wrong could mean missing opportunities or even writing off contagious credit, as well as incurring substantial costs chasing credit owed. Get the balance right, however, and you maximise your order book with minimal risk of credit write off, thereby protecting or even better, growing your business and workforce.

This is a vital time to review the role of credit management in your company, taking advantage of the excellent professional support available for your people. Equipping your staff with professional qualifications will lead to greatly improved effectiveness, and where better to get them than The Institute of Credit Management (ICM)?

Here in the North West there is the Organisational Learning Centre: accredited ICM Credit Academy, providing ICM professional courses from level 2 through to level 5. The courses are held at the University of Salford, and include flexible options for modes of study. On successful completion, delegates will gain a nationally recognised professional qualification and have achieved necessary, relevant skills and knowledge to benefit your business. What’s more, upon completion your staff become members of the Institute of Credit Management (AICM for level 3, MICM for level 5) allowing access to the latest developments and thinking in credit management to further improve your organisation’s effectiveness.

The Organisational learning Centre (OLC) has established an excellent reputation, consistently recognised for outstanding results. Last year alone four OLC students won the highly acclaimed “ICM National Award for Highest Achiever” in their examinations. This, out of a total of 8 national awards, is a truly outstanding achievement for the Centre and for this region.

Both individual and corporate students attend OLC Credit Management courses, some from the furthest reaches of the North West and with fourteen years continuous experience delivering for ICM, OLC are very flexible and will always look at possible alternative arrangements such as work place delivery, if required. This has proved a very attractive alternative with a number of leading companies already.

If you want to find out more, why not come down to our next information and enrolment evening?

The next ICM student information and enrolment evening takes place at 6.30pm on Thursday, 6th September 2012 at University House, The University of Salford, Salford Crescent, M5 4WT. Further details can be had by emailing or calling 01706 343175. All credit to you!

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