Press release – ICM seeks opinions on UK Credit Managers’ Index
Press release – 3 October 2013
The latest round of the ICM Credit Managers’ Index (CMI – Q3 2013) has opened with views from credit managers being sought to help compile the most comprehensive study of the credit industry and how businesses are currently managing their cash.
The CMI is a diffusion index, producing ‘scores’ of between one and 100 (typically in a range of 40 – 60). Ten equally weighted factors are included – three favourable and seven unfavourable – and the index calculated on a simple average of the 10 factors. Credit Managers’ views and statistics are sought on such issues as applications for credit through to days sales outstanding.
The latest CMI (Q2 2013) prompted nearly 800 responses from credit managers working in both the Manufacturing and Services sectors. The companies were broadly split by region, although slightly weighted to businesses in London and the southeast.
Philip King, Chief Executive of the ICM, says that it is vital that credit managers take just a few minutes of their time to complete this industry barometer: “The CMI assesses business confidence to help accurately gauge the health of the economy. The experiences that credit managers share is crucial in building an overview that helps keep our members, business organisations and Government departments updated with current payment trends.”
The Institute of Credit Management (ICM) is Europe’s largest credit management organisation, and the second largest globally. The trusted leader in expertise for all credit matters, it represents the profession across trade, consumer and export credit, and all credit-related services. Formed over 70 years ago, it is the only such organisation accredited by Ofqual and it offers a comprehensive range of services and bespoke solutions for the credit professional (www.icm.org.uk) as well as services and advice for the wider business community, including the acclaimed ICM/BIS Managing Cashflow guides.
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