Last year I wrote and spoke extensively about the evolution of MARS, Managed Accounts my main contention being that they were a significant happening event and their existence would evolve to become a significant presence in worldwide credit operations. They would increase the prevalence of BPO operations and impact the invoice discounting market (why discount with recourse when you can do so without).
Both of these concepts are potentially controversial and emotional but absolutely cannot be ignored. However, when speaking as a part of a panel at the Worldwide Credit Congress in Dublin last November, my contentions were volubly objected to by a couple of people (although I remain unsure of the exact nature of the objection). In any event since then, a couple of things have happened that further hardens my position on MARS. I first had the opportunity to attend and speak at a vendor workshop that was populated by existing vendor clients and was impressed by the experience of users and their underlying enthusiasm of the product.
On a more tangible level, I have been informed that a major Asian global player has gone live in January with their Western European site on a fully-fledged MARS system. I am personally acquainted with the Senior Credit professional who projected managed this event and is so far proceeding well and exceeding all expectations. This is a significant breakthrough and as I understand it the first global player to go with an EMEA roll out.
I, therefore, stand firmly behind my predictions of last year and think that as Credit professionals, whether we love or loathe a new product, process or initiative it is our duty to fully understand it, its capabilities and its place within the profession.
As I said at my first post-Covid face to face event “we need to get out of the bunkers” I’m now happy to report that AICDP is out there and is happy to be in the line of fire!