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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 26th and 27th August 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.

FECMA Pan-European Credit Congress - 2021

The Council of FECMA announces that the FECMA Pan-European Credit Congress which was planned on 26th and 27th August 2020 has been postponed to 15th and 16th September 2021 for safety reasons.

20th July 2020

The protection and safety of all the FECMA Stakeholders, including our members, sponsors, delegates, speakers and staff are of utmost priority for the FECMA Council. For this reason, the FECMA Pan-European Credit Congress which was being held on 26th and 27th August 2020 in Krakow, Poland will now be held on September 15th & 16th 2021.

FECMA would like to apologise for taking this decision which was deemed as fit and proper in the given circumstances. We remain committed to abide to all the rules and regulations imposed by the health authorities and encourage everyone to stay safe and follow measures that help reduce the spread of Covid-19.

In the meantime, FECMA will be organising high quality webinars addressing cash flow and credit management matters in the current European scenario. The scope of these webinars is to inform and discuss the current business and economic environment and to assist businesses to manage cash flow and credit effectively and profitably during time of recovery.

FECMA would like to take this opportunity to thank its members, the organisers of the event, the sponsors and all its stakeholders for their understanding and continuous support. We remain committed to organise an even interesting Credit Congress in Autumn 2021. See you in Krakow!

Federation of European Credit Management Associations


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