Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Kiwi Heads up Global Debt Collection Group

Kiwi Heads up Global Debt Collection Group

Auckland businessman Keith Goodall has been appointed chairman of TCM Group International Ltd, the world’s largest debt collection network.

Mr Goodall is Managing Director of New Zealand-based ICMS CreditSystems Ltd, a TCM member.

He replaces Stephen Bluestone (USA) who has chaired the group since 2002. The two year appointment was made at TCM’s annual meeting in Buenos Aires.

Mr Goodall was formerly President of the New Zealand based Associated Credit Bureaux NZ Inc. He stepped down from that position in November last year in order to take up the international role with TCM.

Mr Goodall describes the network as a direct and practical solution to the growing problem of international debt collection.

“The globalisation of trade, international political instability and constantly changing pattern of immigration and emigration represent are of increasing concern to creditors,” says Goodall. “Without access to a reliable collection network, they are often forced to write off debts from defaulting trading partners or in cases where the debtor goes overseas. The TCM network addresses the problem by enabling member organisations, such as ICMS CreditSystems, to offer clients an international collection capability.”

TCM’s founding principle is a simple one, says Goodall: “Successful collection is best done by a collection office located in the same country as that of the debtor. With independent debt collectors and lawyers in 34 countries and representation in 143 countries, TCM Group enables member collection agencies to better meet customers credit collection needs at both a local and an international level. For instance, ICMS CreditSystems is able to assist international companies in New Zealand and domestic New Zealand companies here and in almost any export market in which they may gain customers.”

The scale of the problem is reflected in the volume of debt referred within the network. Last year US$119 million in business was exchanged between TCM member organisations, an increase of 50 percent on the previous year.

To increase transparency and improve service TCM has developed a web-enabled collection management system. This allows all debts within TCM to be loaded electronically, with details posted on-line and referred to network members. Clients can then access the files to review status. The system was rolled out to clients last month after a six month trial by network members, following a three year development period.

To maintain the integrity of the network, TCM members are required to participate in face to face meetings in order to retain membership status.

“This ensures that business referrals are backed up by well-established personal relationships between the principals of member collection companies,” says Goodall.

ICMS has been a member of TCM since 1994.

About TCM Group

Headquartered in Brussels, TCM Group is a unique alliance of independent debt collectors and lawyers in 34 countries, with a total of 2500 employees. The scope is extended to more than 110 countries when including all service providers, and the Group is able to collect in 143 countries, exchanging over USD 190 million in international claims a year.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Elsewhere:


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:


Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>