Log in Język PICM



October 10th, 2018

Weaker sales of German cars hurt the economies of Central Europe

The business conditions in the German automotive industry are clearly deteriorating. In the Q1’18, this contributed to a reduction in the rate of growth of Polish exports.

The situation in the German automotive industry has a strong impact on the region of Central and Southeast Europe (CSE). There are seven car factories operating there that belong to German automotive groups, and the countries of the region are now the most important suppliers of components for German factories. In 2017, more than 50 per cent of the value of imports of automotive parts came from the CSE countries. The largest suppliers of automotive parts to Germany currently include the Czech Republic, Hungary and Poland.

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October 1st, 2018

Weak investment in Europe

In 2017, the value of fixed capital formation in the EU member states increased by EUR123bn y/y. In Poland, it was EUR5.5bn higher y/y, but its share in relation to GDP decreased to the lowest level in 20 years.

Taking into account the results of the last 10 years, it could be said that in terms of the economic development of the EU, this was a wasted decade. In the past year only four EU countries recorded a higher share of investment in GDP than in 2007: Sweden, Austria, Germany and Belgium.

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September 19th, 2018

Poland’s GDP is growing, but is also causing controversy

Polish Statistics’ estimates of GDP growth were met with a pretty chilly response on the part of some analysts. Few noticed the double-digit increase in value added in construction and in the financial sector.

The forecast consensus indicates that the rate of economic growth in all of 2018 will exceed 4 per cent, but the forecasts for the next year are slightly lower, at around 3.5 per cent. This means that we have reached a turning point in the business cycle, i.e. we have reached the peak of the economic recovery phase.

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June 30th, 2018

CREDIT CLUB PICM - meeting invitation 2018/2019

Providing valuable knowledge and creating opportunities to exchange experiences for wise credit risk management - this is the PICM mission. So far, it has been possible to implement it through the annual Credit Risk conference and quarterly CREDIT CLUB PICM meetings.

I am pleased to invite you to the next season of CREDIT CLUB PICM meetings!

The lecturers will be outstanding specialists and practitioners from each of the topics discussed. I also hope that every day spent together will also be an opportunity to exchange views and personal experiences - which I strongly encourage!

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May 24th, 2018

Credit Risk 2018 - conference brief

I was very pleased to host you, observe the interest of the speakers’ presentations and actively participate in the lobby discussions.

I am very happy that again the event has gathered so many participants. I hope that participation in the event was an interesting experience for you and allowed you to get useful inspiration in a further, professional career.

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February 5th, 2018

PICM recommends: Credit Week, London, UK

PICM has a pleasure to invite to Credit Week, an excellent event to be held in London, United Kingdom. Credit Week is organised by Credit Strategy, the UK’s most widely read credit publication, and supported by the CICM. Discounts for memebers of CREDIT CLUB PICM are available!

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January 10th, 2018

3rd FECMA Pan-European Credit Management Congress, 16th & 17th May 2018

Early bird bookings until 28 February 2018. We have free tickets for CREDIT CLUB PICM members! read more 


January 8th, 2018

Credit Risk 2018, May 22nd, Kraków - registration started!

We invite you to the second edition of the Credit Risk conference! Top topics include changes in the VAT Act that affect settlements with contractors and the automation of accounting processes. There will also be the latest economic data on the condition of enterprises. Super discount available only until the end of January. Register now!

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December 22nd, 2017

Happy New Year from PICM!

We are grateful for the year we worked together and looking forward to effective cooperation next year!





June 6th, 2017

Credit Risk 2017 - conference brief

I was very pleased to host you, observe the interest of the speakers’ presentations and actively participate in the lobby discussions. I am very happy that the first edition of the event has gathered so many participants. You should regret if you were not there :-).

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March 29th, 2017

First PICM conference - Credit Risk 2017, June 2nd

We have started registration at the PICM Conference - Credit Risk 2017. The PICM conference Credit Risk 2017 will be a showcase of the latest trends, methods and practices for corporate credit management. The event will give you the opportunity to confront your own knowledge with the experience of credit risk management practitioners, both from Polish companies and international corporations.

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March 19th, 2017

Interview with Mr. Josef Busuttil, newly elected President of FECMA (part II)

It’s been a while since PICM exists in the credit management business environment of Poland. Wonder what you could benefit from joining our organization? What added value you can bring to your organization to your own development? Check out what Josef has to say.

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February 21st, 2017

The credit culture (part II) [CreditBlog]

The process of managing credit consists of about 50 tasks ranging from customers’ payment allocation as most simple and up to actualization of credit policy as the most complicated. It also includes assessment of customers’ risk, application of credit security and finding of optimal terms of trade. Logically it could be divided into three stages – Setup of customer’s terms, Control over accounts receivables and Assurance of payments (or Collection as more suitable for someone).

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February 6th, 2017

PICM recommends: Credit Week, London, UK

PICM has a pleasure to invite to Credit Week, an excellent event to be held in London, United Kingdom. Credit Week is organised by Credit Strategy, the UK’s most widely read credit publication, and supported by the CICM.

read more


January 29th, 2017

4 trends shaping the future of corporate credit management - continued

In the last entry I described three trends that I think will shape the future of credit risk management in the company. These were: increasing significance of the prevention, individual approach towards each client, and “multi-roles” which modern Credit Manager will be (or already is) required to assume. While speaking of the last trend, I mentioned the roles of a coach (an „explainer” of influence of credit risk on financial results of the company as a whole), of a salesman (focusing on helping the company gain the maximal profit from the biggest possible closed sale), and of an optimist (noticing opportunities even in the direst situation). The following ones are no less difficult.

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January 26th, 2017

Interview with Mr. Josef Busuttil, newly elected President of FECMA

Just few weeks ago, end of last year, I had a privilege to meet with the newly elected President of FECMA, Mr. Josef Busuttil. Josef is Director General of MACM (Malta Association of Credit Management) and previously was a member of the Council of FECMA. We talked a lot and the result of that conversation is the below interview which I have a pleasure to publish to all fellows and well-wishers of the Polish Institute of Credit Management PICM).

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January 26th, 2017

The credit culture (part I) [CreditBlog]

Regardless size, type of product of geographical location, every business uses credit. Ability to use goods or services immediately and pay for them later helps to overcome customer’s lack of cash and facilitates the trade. However, solving one problem credit gives birth to two others – cost of financing and credit risk. This ambiguity creates the key dilemma – on one hand company needs credit to sell and needs to get cash on time to pay suppliers.

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January 2nd, 2017

4 trends shaping the future of corporate credit management [CreditBlog]

The beginning of the New Year is the time of making New Year’s resolutions, of summing up the past and also asking questions about the future. Is the profession of Credit Manager, which I’m practicing now, going to change, or is it going to stay the same as last year? If something changes, then what exactly? Am I ready for the change? What do I need to learn, and what should I eliminate from my everyday routine and habits of the job?

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May 27th, 2016

PICM endorses World Credit Congress & Exhibition

Polish Institute of Credit Management has a pleasure to endorse the 5th World Credit Congress (WCCE) to be held in Bucharest, Romania. The 5th WCCE will deliver highly valuable content and top-level contacts to support critical functions of consumer and trade credit, collections, trade risk and related services. To encurage your participation, we have 10% discount code, exclusively offered to Polish Institute of Credit Management's partners.

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May 23rd, 2016

PICM is FECMA member

Last week, on May 19th, PICM had a pleasure to participate in the national conference of the Malta Association of Credit Management (MACM). Next day, in a meeting held in St. Julian’s, Malta, on the 20th May 2016, Polish Institute of Credit Management has applied for membership in the Federation of European Credit Management Associations (FECMA). The request was subsequently approved unanimously by all the national association members.

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April 14th, 2016

Brexit and the Credit manager [CreditBlog]

Wearing my hat as President of FECMA, I am constantly now being asked about the United Kingdom and the European Union. More specifically, what should I, as a credit manager, be looking out for in the event that that Britain leaves the EU. My short answer to that specific question is quite simple – look out for the same things as you would do normally, regardless of Britain being in or out. In other words, be the pro-active credit professional in every way, assessing risk, identifying customers accurately and diligently and promptly following up before, during and after due date.

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April 11th, 2016

The Pride of Poland - cancelled? [CreditBlog]

Poles like to be proud about their history and extraordinary role in the world events. The new government, ruling in Poland since October last year, has a lot of it. Here is the news: everyone is exceptional, and every nation could be proud about what they did and regret some actions as well. That’s life. The last events in Janow Podlaski stud show that too much pride could destroy something very valuable now, and not only in the horses' breeding; I meen: reputation and trust.

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March 31st, 2016

The mechanism of credit decisions [CreditBlog]

The word credit originates from the ancient Latin credere, which means “to entrust” or “to believe.” Through the past centuries, the meaning of the term remains close to the original; lenders, or creditors, extend funds, or “credit”, based on the belief that the borrower can be entrusted to repay the sum advanced according to the agreed terms. This belief essentially rests upon two fundamental principles, namely, the creditor’s confidence that (1) the borrower is, and will be, willing to repay the funds granted and (2) the borrower has, and will have, the capacity to repay those funds.

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