24th Apr 2015 Posted by Warren Paull
MoretonSmith this month launch an online version of our popular credit forums. This is a space for our customers to post questions, interact with each other and share their knowledge, wherever they happen to be in the world. You can register today by going to http://forum.moretonsmith.com/sign-up/
8th Apr 2015 Posted by Warren Paull
Rene Bekx, Senior Collections Manager at MoretonSmith, proudly accepts our CICM Q accreditation from Philip King, Head of the Chartered Institute Of Credit Management.
8th Aug 2014 Posted by Warren Paull
In today’s economy, there has never been a better opportunity for finance professionals to focus on improving their working capital. With many options and strategies to choose from, where should managers concentrate their energy and attention? In order for companies to be successful at efficiently managing their working capital, they must keep in mind that it is not solely the finance department’s responsibility.
1st Aug 2014 Posted by Warren Paull
Companies are continually looking for ways to improve performance and add value. In an economy like today's, which is constraining the growth of many businesses, outsourcing accounts receivable can not only be a lifesaver but prove to add value. Because accounts receivable is often one of the biggest assets of an organization, credit managers must ensure strategic management is constantly applied in order to maintain a proper inflow of cash and maintain a healthy rate of return.
25th July 2014 Posted by Warren Paull
It is fortunate that the majority of businesses pay their invoices on time but, if they fall behind, you are legally entitled to recover your money. Good communication will initially allow the company and the customer to start negotiations for scheduling re-payments and develop a mutual understanding of the approach to be used. If the client refuses to pay the account, companies should have adequate and strict sets of procedures to follow. Good debt collection practices can ensure businesses meet the highest standards while adhering to all their policies to meet regulations and prevent being fined.
11th July 2014 Posted by Warren Paull
Significant changes are happening across many organisations as they shift from a culture of focusing on profit margins alone, to focusing on risk management in order to be able to maintain strong sales. However, companies can only effectively implement real cultural change if they are aware of current risk management structures and policies that are in place.
04th July 2014 Posted by Warren Paull
Cloud computing is evolving rapidly, with everyone from small businesses to large multinationals adopting this new technology. Industry experts believe that the trend will only grow and continue to develop further.
27th June 2014 Posted by Warren Paull
Collecting accounts receivable can be difficult, particularly if you are a multinational doing business outside the country. Language barriers, cultural differences, different law and geographical distances can be a nightmare. However, cross-border accounts receivable management is not as complicated as it seems.
23rd June 2014 Posted by Warren Paull
Read the latest white paper from MoretonSmith – “From Accounts Receivable to Smarter Receivables”
This paper sets-out MoretonSmith’s Smarter Receivables concept and describes how it can be pursued to implement the optimum balance of people, process and technology, in order to achieve transformational insights, efficiency and effectiveness in accounts receivable.
20th June 2014 Posted by Warren Paull
Within the finance sector senior executives may be well informed of some of the key functions and benefits big data can provide for them but the challenge continues to be the manner in which companies record this data and use it to their benefit. It is necessary to be well positioned to utilise this technology, not only to support strategic goals but also to minimise risk and improve overall performance. To achieve this, we must be aware of what big data can accomplish for accounts receivable, what we aspire to do with it and the skills and tools necessary to meet all objectives.
13th June 2014 Posted by Warren Paull
As many companies continue to expand their products and services, credit managers struggle with increased scrutiny and expanded responsibilities; the demand for these key executives to contribute to the success of the organisation is higher than ever. They are depended upon for business intelligence, data analysis, effective forecasting and management of working capital, but in a world of constant financial change and evolution this is not without its challenges. Some of the largest current responsibilities in credit management are: moving from tactical to strategic management of working capital, accurately recording and taking advantage of big data, and uncertainty about the economic environment and how fluctuations may affect future business.
01st May 2014 Posted by Warren Paull
Managing Director of MoretonSmith Receivables Services , Charles Mayhew, is standing for election to the ICM Advisory Council this month. Current paid up MICM, MICM(Grad) or FICM members can now vote until 2nd June 2014.
"My credit career started 20 years ago in collections. Then I joined Moreton Smith 11 years ago and have since become MD of the International Receivables division. I gained MICM status in 1998, becoming a fellow in 2013, and I am a European Board member of the ICTF, which collaborates with ICM. MoretonSmith are also members of Fenca and I meet clients regularly in the UK and Europe. Finally, I have lectured and been speaker/sponsor at branches, providing advice to ICM members.
This platform allows me the opportunity to promote the ICM whilst providing invaluable International Collections services to clients.
I fully endorse the mission vision and values of the ICM. I've been an active member of the ICM for 16 years; former Chair of the seminar and conference committee, and I sit on the Technical Committee.
I've seen many changes to the ICM and, as per my ICM guest blog, we have some great characters who have taken the ICM to the great position it is in now. I would be delighted and proud to continue my association on this formal level, and network to promote the ICM with like-minded individuals.
Let's keep growing it together.
More information about the election can be found here
Best of luck, Charles!
07th March 2014 Posted by Warren Paull
We are excited to announce that MoretonSmith are a Finalist for the Credit Today Awards 2014. We have been selected in both the Rising Star category, for Fabio Zompicchiatti's work in our legal department, and in the Commercial Collector of the Year category, for Diego Carlos Juin's work in our collections department. We look forward to seeing all who are attending the awards on 8th May 2014.
14th February 2014 Posted by Warren Paull
MoretonSmith enjoyed ourselves enormously at the ICM Awards 2014, where we were pleased to accept a Highly Commended Award for Debt Collection Agency of the Year. Many thanks to everyone who made it a night to remember.
2nd August 2013 Posted by Warren Paull
The MoretonSmith AR software solution, ero57 was featured in a special report on Outsourcing & Shared Services in the Sunday Telegragh. Download or read the full article below.
What happens when you take the sophistication of the sales and marketing process and apply those principles to your accounts receivable? CRM for debt, if you will? Richard Moreton calls this "smarter receivables" and it's this approach that his company MoretonSmith is pioneering with its groundbreaking technology, ero57.
Receivables management has always been a very process-driven area. This has led to a focus on efficiency and the associated costs. However, 20 years ago MoretonSmith decided - not for the last time - to swim against the tide. The goal was to deliver ROI to clients, rather than cost saving alone; "It quickly became apparent though, that to deliver on our ROI promise, we needed high-quality near-shore resource but that also meant we needed to secure massive efficiencies to offset our higher costs."
This was the birth of smarter receivables.
The software was originally developed to help MoretonSmith manage its team of credit controllers, debt recovery professionals and legal representatives more efficiently. However, after a period of rapid growth, it became apparent that clients could benefit from the software to run their own in-house invoice-to-cash processes.
By measuring every action of every customer, credit controller and transaction, ero57 generates a vast database of information upon which to base decisions. This data also allows it to provide flexible and granular reporting to quickly see how processes and people are performing.
Next, behavioural analysis and predictive analytics are applied to the data; sophisticated descriptive modelling, predictive modelling and decision modelling allow for a forensic understanding upon which to base strategy. It will also forecast the effect that collections strategies and actions will have on customer behaviour, collectors' productivity and, ultimately, the company's cash position.
Finally, the software is built with efficiency at its core; much of any process can be automated in the system, including both determining and actually sending the best communication, at the best time, to the right customer. In addition, usability experts have produced a groundbreaking interface, taking inspiration from the biggest consumer software products in the world, to deliver an intuitive and visually appealing interface that allows for quick and easy use. Clever "nudge theory" mechanisms are also integrated, ensuring highly motivated users and maximum productivity.
Smarter receivables is more than a process.
29th April 2013 Posted by Richard Moreton
We have been investing heavily in our research & development programme to create ero57 the next generation of collections software that will supercharge collection performance and empower credit management decisions. We have also upgraded our technology infrastructure for enhanced disaster recovery and PCI compliance.
The outcomes of that process are built into our credit management services and ero57 - our proprietary collection software, creating a holistic offering designed for collection performance. The future of effective receivables management relies on correctly interpreting the capabilities of human communication and the role of technology, and we are committed to bringing powerful collection solutions to customers as our work advances.
Emphasising our investments in infrastructure and quality service delivery, we are very proud to announce two recent accolades. In January this year we were the first collection agency to be awarded QICM accreditation, and this month MoretonSmith has become one of only 91 UK companies to achieve PCI compliance registered by VISA, on Visa's Europe Merchant Agent List.
Our dedication to developing a robust compliance and security framework for clients is absolute, and a critical component of our award winning receivables service. We are raising the bar again and look forward to providing you with the tools and service to maintain healthy cash flow and data visibility.
29th April 2013 Posted by MoretonSmith
MoretonSmith has become one of only 91 companies across the UK that are registered as PCI compliant by VISA.
The Payment Card Industry (PCI) Data Security Standard was created by the leading credit card companies to ensure customer data is safeguarded. The PCI-DSS regulation has stringent requirements related to log data centralization, archiving, monitoring and reporting for security and audit purposes.
In operational terms, it means that you are playing your role to ensure payment card data is safe across every transaction, and that you - and your customers - are protected against the pain and cost of data breaches.
The accreditation reinforces the commtiment and investment we have made in our compliance and security software infrastructure to provide our clients with a best in class collection service.
If you would like more information about offering your customers and collectors a secure credit card gateway as an integrated tool within the credit control process, then please contact our sales department for more information, or read more about our proprietary collection software and credit management services.
14th March 2013 Posted by MoretonSmith
Award winning receivables management company, MoretonSmith, has recently received a Quality In Credit Management (QICM) Accreditation from the Institute of Credit Management (ICM). Based in London, the company is the first credit management agency to be awarded the prestigious QICM Accreditation, and one of only 29 companies to receive the accolade. Other organisations include Siemens, HSBC, Muller, Verizon and EDF Energy.
The QICM Accreditation is a measurement process for credit management and covers areas including; credit policy, compliance, performance measurement and customer services. To receive the award, companies must demonstrate they meet a minimum standard of 'Good/Best Practice' in credit management and is a valuable accreditation for businesses of all sizes and industry sectors. Following a two day assessment by the ICM's Head of Accreditation - QICM, Chris Sanders, MoretonSmith successfully demonstrated they met the ICM criteria which includes a 'Discovery' session with an assessor and analysis of feedback from a selection of their clients.
MoretonSmith operates globally from headquarters in London, delivering powerful receivables management solutions for clients through their use of proprietary software and onshore receivables management services. The company is pioneering a unique approach to receivables management, which is articulated under the guise of Human Centred Collection (HCC). HCC is designed to coordinate all collection activity and performance optimisation toward the people behind transactions, on the premise that payments of all status classifications are acted upon by people, influenced by the contexts in which they operate. Built into ero57, MoretonSmith's proprietary collection software, HCC builds data profiles of individual customer behaviour to help determine workflow actions that increase the probability of positive outcomes.
As a result of MoretonSmith's HCC philosophy, the company's in-house team combine with ero57 to deliver a high performing receivables management service.
Mark Smith, Founder and Director of MoretonSmith, said: "We are delighted to have been awarded a Quality In Credit Management accreditation from the Institute of Credit Management. Being recognised for our work is a significant achievement for MoretonSmith, and as we are the only credit management agency with the accreditation, this sets us apart from other organisations. Our focus on Human Centred Collection is a key part of our company and positions us as a pioneer in this field."
Philip King, Chief Executive of the ICM knows how beneficial it is for companies to achieve a QICM: "Being able to benchmark your company's credit management function against the best in the business is a valuable opportunity, and receiving that mark of quality speaks volumes about your high standards. I congratulate MoretonSmith on its achievements and hope that they may be among the first of many DCAs to join the QICM Hall of Fame."
MoretonSmith was established in 1994 and today the company has over 640 clients globally. The company's client portfolio includes GE, Regus, UBM and the NHS.
For more information about the Institute of Credit Management, please visit www.icm.org.uk.