Avnet Recognised for Best Practice in Credit

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Avnet has been awarded Centre of Excellence status in the UK by The Chartered Institute of Credit Management (CICM). The status is the highest accolade for best practice in credit.

Avnet’s credit team is the first technology company (and the third overall company) to be awarded this prestigious status by Europe’s largest professional credit management body.

Darren Maynard, head of credit, Avnet Technology Solutions, UK, said, “We have invested considerable time and resources in the achievement of this status. It is excellent recognition and something that the team can be very proud of. It emphasises our dedication to best practice and commitment to delivering value to our business partners.”

Avnet achieved CICMQ status in 2013 and 2015, the CICM’s sought-after quality in credit management benchmark, which is required before an organisation can apply for Centre of Excellence status. Each individual in Avnet’s UK credit team is a member of the CICM and receives continuous development through weekly one-on-one training sessions delivered by the Institute.

Chris Sanders, head of accreditation-CICMQ, says that Centre of Excellence status is a credit team’s highest accolade and Avnet is a clear example of a business engaging with the CICM to ensure that team members are developed to their full potential. He commented, “It requires long-term focus to achieve, and acts as a benchmark for other credit teams and the rest of the industry to admire and aspire to.”

To achieve the CICM’s Centre of Excellence accolade, a firm must deliver ongoing best practice and continuous improvement in credit management and a culture of continuous professional development and progress towards having qualified credit professionals. It should make a significant contribution to the broader credit community through events, presentations and by sharing examples of its best practice experiences with other credit management professionals.