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Credit Manager

Work Experience

November 2002 to February 2005 - Emap Plc

Group Credit Manager/Head of Finance – Order to Cash reporting to Shared Services Centre Director. Number of staff 46.

Emap Plc based in Peterborough, is one of the largest media, publishing and broadcast Company in the world. A FTSE 100 public company, the Group has an annual turnover of $2 billion. Group division consist of 400+ magazines, radio stations and TV channels with primary revenue streams relating to advertising revenue.
Responsibilities cover Accounts Receivable activities relating to Europe, USA, Middle and Far East customer base of 100,000+ live accounts and 40,000 invoices per month.


Technical Summary:

Hardware – Peoplesoft Financial system, CMS credit management system.
Software - Excel, Word, Amipro, Powerpoint. Lotus Notes, Equifax/ Dun & Bradstreet online credit systems.

Key Achievements



Successful centralisation of credit management functions from seven geographic locations into new shared service centre in Peterborough.

Ensuring that knowledge transfer and transition process is managed in the most effective manner.

Achieving objectives in line with annual budget (£1.5m p/a) and business case milestones.

Process mapping of existing AR sales order to cash processes, identifying weaknesses and implementing quick wins as well as drafting medium to long term recommendations and business case for change to Executive Board.

Implementation of Departmental and Divisional AR Key Performance Indicators and reporting.

Collation, drafting and obtaining agreement of internal customers for documented Group Credit Policy/Customer Contact Strategy document across all Divisions and Business Units.

Restructuring of Accounts Receivable functions to maximise the accuracy and timeliness of customer and inter-company billing, collections and cash payments.

Recruitment, training, scoping and improved automation of credit management department in to centralised Shared Service Centre.

Successful outsourcing and on going management of invoice document generation and despatch through third party.

Successful planning and participation in successfully gaining ISO9001 accreditation for the credit management function within 18 months of Department being created.

Project management of bank account number consolidation and change of banks.

Implementation of Call Centre Management System to monitor productivity and service levels between credit control teams including call routing and dispute management.

Introduction of staff appraisal, induction and succession management to maximise staff retention and development.




July 1999 to November 2002 - Dixons Stores Group Plc

Group Credit Manager reporting to the Group Retail Controller. Number of staff 21.
Dixons Stores Group based in Hemel Hempstead is the largest electrical retail Company in Europe. A FTSE 100 public company, the Group has an annual turnover of $7 billion. Group divisions include, Dixons, Currys, PC World, The Link, Mastercare and Freeserve . Responsibilities cover Accounts Receivable activities relating to UK, Scandinavia, Spain, Portugal ,Greece and Eastern Europe.

Technical Summary:

Hardware – CA Masterpiece RS600 AR system, REPOS system, Lawson Financials General Ledger
Software - Excel, Word, Amipro, Powerpoint. Lotus Notes, Equifax/ Dun & Bradstreet online credit systems.

Key Achievements

Providing Technical Advice to the Director General’s Office, Institute of Credit Management on various Government and Lord Chancellors Department Green Papers on credit related legislation changes.

Representing the Company as a Member of the Civil Court Users Association, City of London Police Cheque and Plastic Fraud Liaison Committee, APACS/British Retail Consortium Joint Fraud Prevention Committee.

20% Reduction of Days Sales Outstanding on monthly moving annual average basis since July 1999.

Reduction in cost of collection of 45% per invoice transaction and 15% per cheque transaction.

Process mapping of existing AR sales order to cash processes, identifying weaknesses and implementing quick wins as well as drafting medium to long term recommendations and business case for change to Executive Board.

Implementation of Departmental and subsidiary AR Key Performance Indicators and reporting.

Collation, drafting and obtaining agreement of internal customers for documented Group Credit Policy document across all subsidiary Companies.

Restructuring of Accounts Receivable functions to maximise the accuracy and timeliness of customer and inter-company billing, collections and cash payments.

Re-engineering , recruitment, training and improved automation of in-house legal recoveries department to centralise Group legal recoveries, reduce dependencies of external agencies and increase legal recoveries with a reduced cost of collection. Recoveries have increase 43% year on year, whilst costs have reduced by 13%.

Successful design and implementation of various cost effective in-house bespoke billing and E-commerce B2B systems and concepts as part of cross functional Sales and Finance successes to retain existing business whilst anticipating future customer requirements.

Successful planning and liaison with IT Department for Y2K by identifying all core systems in AR area that required testing, remedial actions and a disaster recovery action plan to be prepared.

Planning and liaison with IT Department for Euro implementation in Ireland 1/1/02 by identifying all core systems in AR area that required testing, remedial actions and a disaster recovery action plan to be prepared.

Implementation of Call Centre Management System to monitor productivity and service levels between credit sanctions and branch functions.

Introduction of staff appraisal, induction and succession management to maximise staff retention and development.

Maximising operational functions and responsibilities whilst maintaining costs within departmental budget.



June 1989 to July 1999 - Europcar UK Ltd
Receivables Manager reporting to the Financial Director. Number of staff 23.
Europcar UK based in Watford is the second largest vehicle rental company in Europe. A wholly owned subsidiary of Volkswagen AG, the Company has an annual turnover of $ 150m. Divisions include car, van and truck rental as well as Chauffeur drive. Responsibilities covered Accounts Receivable activities relating to UK, Holland and Belgium.

Technical Summary:

Hardware – Oracle Financials (Releases 7, 9 & 10), NCR AS400, Greenway (Bespoke)
Software - Excel, Word, Amipro, Powerpoint. Exchange email, Equifax/ Dun & Bradstreet online credit systems.

Key Achievements


Reduction of Days Sales Outstanding from 117 days to 37 days on moving annual average basis.

Reduction of bad debt provision from 2.5% to 0.7% of turnover.

Implementation of Departmental AR Key Performance Indicators and reporting.

Collation, drafting and obtaining agreement of internal customers for documented Group Credit Policy document across all Accounts Receivable, Branch Operations and sales functions.

Regionalisation of Benilux countries’ existing Europcar AR functions by creating centralised AR Centre of Excellence in Watford within target time period of six months.

Controlling and management of human resource reduction through re-deployment and redundancy of existing Benilux staff whilst minimising customer impact, budgetary costs and ensuring that the Company Human Resource policies were maintained.

Re-engineering and automation of Accounts Receivable and Customer Service functions to which reduced headcount from 97 FTE to 23 FTE over a two year period.

Participated as part of due diligence audit team during company acquisition of British Car Rental in 1998 to audit and test quality of revenue and Accounts Receivable balances.

Spent four month secondment in Finance Manager role at British Car Rental Head Office in absence of Finance Director acting as liaison between Europcar and British Car Rental Board of Directors. Planning merger of both AR ledgers and ensuring that all open items were accurately merged and all customers were informed of merger. Liasing with Human Resource Department to identify surplus FTE and management of the re-deployment and redundancy of staff.

Implementation and restructuring of AR and Customer Service functions to provide one point of contact for all customer and sales contacts. Resulted in improved response rate from 20 days to 2 days for maximum customer query turnaround.

Sourcing, designing, testing and implementation of new billing and sales ledger systems to improve billing accuracy, transparency of customer ledgers, financial control and to provide improved billing functionality to assist with customer retention as well as generating new sales.

Introduction of staff appraisal, induction and succession management to maximise staff retention and development.

Maximising operational functions and responsibilities whilst maintaining costs within departmental budget.

Representing the Company as a member of the British Vehicle Rental and Association Security Committee.

Education

Results: 3 A Levels, 5 O Levels

Professional Qualifications/Membership: Fellow of The Institute of Credit Management

Skills

Credit and Risk Management : Minimise credit risks, write-offs and payment terms extended to customers.

Monitor compliance with payment term disciplines and ensure exceptional payment terms are appropriately authorised.

Ensure all necessary customer credit checks are carried out and credit limits are set.

Obtain advances where appropriate.

Ensure appropriate action is taken on clients who have exceeded predetermined aged credit limits. This to include withdrawal of credit facilities.

Institute collection proceedings for all unqueried balances of predetermined age.

Ensure appropriate litigation procedures are in place on order to minimise potential loss.

Ensure appropriate customer visits and tender replies are made in conjunction with sales management to arrange acceptable payment procedures are in place.

Implementation, upgrade and review of sales ledger, billing and collection systems on a regular basis.

Systematic collection : To collect retail & trade receivables as they fall due.

Agree collection and telephone collection targets by collector and monitor, review and report actual performance.

Ensure where appropriate, automatic dunning letters are sent to customers whose invoices are due for payment.

Customers to receive regular statements of account.

Large payments are collected from clients’ premises as they fall due.

Maximise collections in advance of vacation periods.

Formalise all other areas of collection methodology.

Regularly review collection performance of collection agencies.

Attend High/County Courts to present evidence in litigation cases where necessary or appropriate.
Customer Service/Query Management : To resolve receivable queries on a timely basis to the satisfaction of both the customer and the Company.

Ensure receivable invoice queries are accurately and completely logged by reason code on a timely basis.

Ensure customers are kept informed of the invoice query status.

Ensure responsibility for queries resolution is clearly allocated and that corrective action is promptly taken.

Ensure a credit note is promptly approved and processed, should it require in line with corporate standards.

Analyse incoming queries trends and liase with appropriate management to ensure necessary corrective action is taken.

Litigation : To Recover debts from customers by initiating appropriate action either via collection agency or if necessary via the High/County Courts system and ensure timely registration of any insolvency claims.

Ensure pre-litigation action is taken prior to instituting Court procedures.

Ensure effective legal action is taken within minimum statutory time frames.

Ensure effective registration and monitoring of any insolvency claims.

Regularly liaise with collection agency and solicitors to ensure that appropriate action is taken and communicated.

Regularly liase with external investigation agencies to identify the current whereabouts and status of debtors.

Productivity and Reporting : To ensure predetermined collection and productivity targets are met.

Collate and report monthly performance and productivity indicators.

Based on regular debtor review, produce formal monthly report highlighting potential concerns and recommend actions.

Based on regular review of query performances, produce formal monthly report in line with Credit Note Recovery.

Ensure general housekeeping of the receivable ledger is performed.

Based on regular review of both in-house and collection agency activity, produce a formal monthly report of all accounts in litigation but where necessary highlight concerns more immediately.

Ensure that up to date management information is maintained on all relevant accounts to encompass all aspects of the management of the Company’s accounts within the receivables system.

Ensure that all staff are fully conversant with the internal administrative processes surrounding their accounts.

Provide daily, weekly and monthly reports in line with pre-agreed criteria.


Human Resources :


Ensure selection of qualified employees to fill open positions.

Induction and continuous training provided for employees.

Agree objectives including standards of performance.

Set and agree credit control targets.

Motivate employees to perform to agreed standards.

Appraise direct employees through performance review.

Encourage direct reports to continuously review procedures and systems and make recommendations for continuous improvement.

Budget management of departmental cost centres, including staff, legal, collection and stationery costs.

Languages

English

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