MaxCredible-Partners lanceert het European Credit Management Innovation Center . Het fundament van het totaal vernieuwende concept is hier beschreven.

I.VISION.

Innovation in credit management is limited to the 6% account receivables managed outside companies by a collection agency. Collection , the last stage of the credit management process , is the core activity of these collection companies and therefore innovation are of key importance. Innovation is used primarily to improve the collection of bad debt in a disrupted relationship of customer and supplier.

94 % of the account receivables are managed within companies at an executional level . It is hidden in the operation and has no strategic contribution and influence. This although credit management has numerous contacts with the customer , spends a large part of the company’s financial resources and manages one of the most important assets of the company named cash. Credit management has only marginally taken advantage of innovations and new thinking which have come to market from all domains in the recent past. This contrarily to finance , marketing, logistics, production, product development, customer care and management which enjoyed new thinking , paradigm shifts, application of new technologies, new research facts , hence continuously improve their contribution to the company goals .

If Credit Management would innovate as well it would catch up with the other business activities and significantly contribute to achieving the company goals.

The benefit hurdle to take to accomplish this is the lack of interest and resources within a single company to innovate in the field of credit management. Recall, at this very moment it is not considered a key business activity and fact and figures of the 96 % account receivable management are carefully locked within the walls of the companies , hence no cross company information available and no sharing of innovation, thinking , best practices and benchmarking.

The Credit Management branch organisation endorses innovation , however the activities are not on academic level and therefore real breakthrough innovations are not to be expected. The education offered by the branch organisation is of high quality but not academic and therefore does not contribute to innovation.

Innovating the credit management with companies will eliminate the current non added value cost in the system. This is a considerable amount of money with significant impact on the P&L of individual companies and the total market given the supplier credit is the largest credit in the world .

II. MISSION.

Ensuring a continuous stream of innovations in credit management by which individual companies can improve their credit management significantly through the founding of the “ European Credit Management Innovation Centre “.

III. STRATEGIES.

1. Limiting to the management within companies of the 96 % account receivables , the good debts.

The focus is on having customers paying on time at lower cost with higher customer and employee satisfaction. Focus on pre work activities inside the company preventing re work such as handing over account receivables , hence the management of the customer relationship , to third parties with likely conflicting motives and interest .

2. Limiting to operate at academic level.

The focus is on out of the box thinking. Re application of innovations outside the credit management domain. Creativity and experiments. All leading to hypotheses professionally confirmed or written off by solid research. Published and filed in a disciplined way.

3. Limiting to operate in the scope of Chief’s.

CEO’s ,CFO’s and CIO’s initiate and guard strategies to accomplish the company goals. They are not hindered by current methodologies and practices. They decide on market research to back up their gut feel. They decide on priorities and last but not least important on budget. Vision and Innovation is their territory. To guarantee orders , support, endorsement and funding the European Credit Management Innovation Centre will be positioned in the Chief’s scope.

4. Covering all domains.

The impact of all sciences ; social , demographic , religion , economic , financial , psychological , cultural , legal , business , communication, technical , statistical, neuro economic , recovery on credit management are to be researched to foster innovations. Subjects like total system efficiency, risk, cost, customer and employee satisfaction, reward, recognition, funding , flexibility , customer and employee behaviour , relationships with shareholders and finance companies need to be reviewed.

5. Researching with the latest technologies.

Laboratory settings , gaming , on line interviews , face book , twitter will be applied to generate new findings leading to conclusions and new initiatives.

6. Initiating and managing education on future credit management.

Professors and students of all sciences are invited to contribute via initiating and conducting research programs . This at bachelor and post graduate level. The outcome of research is the basis of the curriculum for the Credit Management Master Class Study at post graduate level initiated and managed by the European Credit Management innovation Centre.

7. Maximally publishing and communicating with all target groups.

All research outcome will be published as well as all other developments within the European Credit Management Innovation Centre. This via new media including , site, blogs, twitter, face book, e zines, newsletters and traditional media such as presentations, workshops, fairs, symposia , in company events.

8. Committing all relevant organisations in Europe.

Organisations including Stichting Oor, VVCM, NORA, NIBE-SVVV, FECMA , BVcM excluding organisations of the credit management service industry are invited to contribute via initiating research programs , publishing research outcomes , promoting the master class study , general endorsement and funding.

9. Guaranteeing independency through funding via multiple sources and advisory board.

The publishing of research outcome , conducting presentations , the exploitation of the master class , the general sponsorship and the sponsorship of specific research generate the income for the European Credit Management Innovation Centre. In total more than 100 sources of income ensuring independency en objectivity. The advisory board of 5 professors of 5 different sciences and 5 CEO’s of 5 different European Companies further enhance the independency and objectivity.

10. Operating close to the resources and following the network business model.

The European Credit Management Innovation Centre is located at a Dutch university . The network business model with its low burn rate and is led by a senior manager at academic with well-developed creativity and innovation skills , successful experience with leading network organisations and a broad network in business and science.

IV. IMPLEMENTATION. 

1. Limiting to the management within companies of the 96 % account receivables , the good debts.

Hand over requests and questions concerning bad debts to the branch organisations like N.V.I. in Holland.

Execution plan for channelling.

2. Limiting to operate at academic level.

Hand over operational requests and questions to the branch organisations like V.V.C.M. in Holland. Initiate research which complies with the academic requirements and initiate education at post graduate level , master class , only.

Execution plan for channelling.

3. Limiting to operate in the scope of the Chief’s.

List of all Chief’s in Europe representing European organisations and businesses. Channel requests and questions of credit managers to the branch organisations smoothly. Communicate in all channels with the chief’s in mind.

Execution plan for channelling and content.

4. Covering all domains.

List of all relevant sciences and topics. List of current , planned , open ( for ownership and funding ) research programs by science and country. Accompanied by information on timing , type , cost, university, owner, funder , publishing data and price.

Execution plan for organising.

5. Researching with the latest technologies.

List with all research techniques. Such as on line interview , laboratory, gaming.

Execution plan per technique.

6. Initiating and managing education on future credit management.

Launching and conducting the master class in Credit Management . Launching PHD Credit Management Program together with a Dutch University for Acadamic oriented credit managers and other professionals who want to write dissertations in a dedicated “Credit Management PHD program “.

Contribute to existing academic education such as MBA , Economics, CRM .

Execution plan per education.

7. Maximally publishing and communicating with all target groups.

List of all communication channels , web site, blogs, twitter, newspaper, books, fairs, e zines, on line conferences , presentations .

Execution plan per communication channel.

8. Committing all relevant organisations in Europe.

List of the relevant organisations.

Execution plan per organisation covering endorsement and funding research.

9. Guaranteeing independency through funding via multiple sources and advisory board.

P&L including all sources of income. Follow the approach of low burn rate , spending after ( committed ) income .

Execution plan per source of income.

10. Operating close to the resources and following the network business model.

Location at a Dutch University . Satellites all over Europe. All research and education activities on “no Cure no pay “ basis . Leveraging the benefits of the network organisation model . Limited overheads driven by high tech full automated head office.