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AICDP Best in Class Initiative

bpilogomediumThe Best in Class Initiative is a very practical example of how AICDP can help you, and your company, to benefit from improved skills and processes. The aim is NOT that you achieve Best in Class as a one-off activity but that you achieve the position through dedicated effort and maintain the position through regular review.

 

Why does AICDP propose a Best in Class Initiative?

Credit Management is a critical business activity, now more than ever before. With an ever increasing focus on regulation, control and a drive for better practice, these criteria will help you decide the need to join this Best in Class Initiative.

  1. Is it recognised that your credit staff and credit functions are key resources and that their roles in managing collection and cashflow are activities to be enhanced and valued?.
  2. Your credit function is at all times fully compliant with all legal and regulatory obligations?
  3. Your credit staff are fully conversant with emerging requirements and new obligations?
  4. Your credit management functions efficiently and effectively?
  5. Your collection process operates efficiently and effectively?
  6. Your customer-facing activities and their public relations implications are controlled?

 

AICDP understands very well the challenges you face today and has devised the Best in Class Initiative to help you attain the efficiencies you require and to give recognition to you and your staff in your efforts to pursue excellence.

How does the application process work?

As credit professionals accustomed to rewarding excellence among our members and students, we recognise the need to apply rigorous criteria to the awarding of a Best in Class status. However, we also recognise that excellence comes in many shapes and forms and our Best in Class panel apply their experiences to your situation to arrive at a balanced view. Key to a successful application for Best in Class are:

  • Detailed description of your credit management function covering information on accounts under management, nature of accounts (Commercial, consumer, export, large value, large volume), organisation structure, staff levels, length of service, senior management reporting, level of autonomy, metrics.
  • Skill level statements demonstrating suitability for role and development plan for ongoing career development.
  • Audited processes including induction, measurement, corrective actions, exception handling and documented compliance.
  • Business contribution indicating how activities increase cash flow and profitability. Recognition of the importance of the credit management functions through its organisation structure positioning, reporting to Senior Management and involvement in external bodies representing credit management.

How does Best in Class help me?

Achieving Best in Class indicates you have achieved a high level of quality in your processes, trained your staff to a high level of competency/professional status and delivered value to your business. As key to achieving and retaining Best in Class is a demonstrated commitment to continuous improvement, you have the added benefit of the ongoing efforts of your organisation to ensure it retains its Best in Class status.

Like any recognised quality initiative, displaying the Best in Class award in your communications, enhances your credentials for potential customers and business partners.

How long do I retain my Best in Class?

Best in Class applies on an annual basis. Subject to annual assessment, you may continue to use the Best in Class logo and certificates until you elect to terminate the status. We envisage your ongoing retention of your Best in Class status and to that aim we ensure your re-assessment criteria each year are mutually manageable and relevant to changing business levels, structures and  business imperatives.

The AICDP Best in Class Initiative provides your company with both a challenge and an opportunity to demonstrate its commitment to enhance people and functional skills and to reach and sustain a high standard of quality and effectiveness in credit.
Why should your company be interested in the Best in Class Initiative?

Many companies have quality initiatives, human resource plans, staff development programmes and personal development programmes. The AICDP Best in Class Initiative is designed to deliver specifically on the following, and in so doing to enhance your existing initiatives and programmes.

  1. A focussed skill development program specifically targeting credit staff.
  2. A planned skill enhancement program to keep abreast of changing requirements.
  3. A customisable programme of general and specialist modules to match your business requirements.
  4. Independent criteria to assess your ability to attain and maintain Best in Class
  5. Recognition of your Best in Class status
  6. Access to peers and equivalent Best in Class companies
Why should you, a credit executive, be interested in the Best in Class Initiative?

Whether you are aiming to complete an MBA with AICDP and The Open University or intending to build your skill levels in various areas while your executive career evolves, the AICDP Best in Class Initiative facilitates you in a number of specific ways.

  1. Best in Class requires that staff are appropriately trained using accredited courses such as in-house courses, Institute Certificate, Diploma and other AICDP approved courses.
  2. A company commitment to obtaining and maintaining Best in Class status means a strong level of focus on process, practice, policy, metrics and skills, all valuable additions to your own career development.
  3. Best in Class within credit raises the profile of the credit function and all of the staff operating in that function, enhancing career opportunities.
Are you ready to join the Best in Class Initiative?

Why wait, apply for Best in Class today. Register here today. You will be contacted to activate the process and to begin your journey to Best In Class. Regardless of the size of your organisation, you have an opportunity to join Best in Class and achieve that major business milestone.

AICDP Best in Class is an integral part of a global initiative to create a Gold standard for Best in Class. Our model builds on an initiative pioneered by IICM (Irish Institute of Credit Management) and shared in Central & Eastern Europe through ACCEE (Association for Credit in Central and Eastern Europe)