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FECMA 4th Pan-European Credit Congress

Josef Busuttil

MBA (Henley), Dip. M.  MCIM,  FCICM

President of FECMA - Federation of European Credit Management Associations


People working in the field of credit management are truly working against all odds!

Today’s business environment is characterised by homogenous products and services with little scope for differentiation, very often supply is exceeding demand, customers are becoming more knowledgeable, markets are becoming more global and competitive, the cost of doing business is increasing and the profit margins are shrinking. Customers’ loyalty is something of the past and it has become a hard nut to crack to maintain market share, let alone increase it! To add insult to injury, changes in commercial legislation is changing the business landscape and the international trade is in turmoil with a recession looming round the corner.

Nevertheless, this aggressive and hostile environment poses new challenges for the successful credit professionals and businesses. Innovation, change management and customer-focus have in fact become today’s business mantra, and rightly so!

People in business should be innovative, whilst stay positive at all times, even when they experience some signs of failure. Moreover, they should strive to satisfy, if not exceed, the ever changing customers’ needs and expectations in order to gain and sustain competitive advantage in their respective markets and niches. This also applies to the credit profession.

The role of the people involved in credit in today’s reality is far from crunching numbers and pestering customers for payment, as may have been their duty in the past! The credit function has truly become a people’s function.

An efficient credit practitioner should know the customer well and should endeavour to build good customer relationship to ensure prompt payment and sound cash flow, whilst assisting the sales team to increase the turnover in a profitable manner. Credit practitioners should also keep good relationship with their respective internal customers, their colleagues in other departments, so that they would facilitate efficient business transactions resulting in a more satisfied customer base.

The FECMA 3rd Pan-European Credit Congress which was held in my country, Malta, in May 2018, addressed a number of pertinent matters relative to managing the credit function, credit risk and cash flow management with delegates consisting of business owners, CFOs, bankers and credit practitioner hailing from all over Europe and beyond. Our next FECMA Pan-European Credit Congress in Krakow on 13th and 14th May 2020 will once against address and discuss topical matters which every person involved in cash flow and credit management should not miss.

I am personally looking forward to chairing this high calibre Credit Congress and to meeting as many people working in this interesting business field as I possibly can. Hence, my suggestion is to pencil in the dates and make your bookings to avoid any disappointments. See you in Krakow next May.

PAN-European FECMA Credit Management Congress

Contact

  • FECMA c/o VVCM,
    Computerweg 22
    DR 3542 Utrecht
    Netherlands
  • +31 (0) 346 558 050
  • info@fecma.eu