SPEF members will be given free membership to ICSMs premium service for six months and then at a discounted rate.

ICSM managing director Ian Carrotte is looking at opening a dedicated Scottish office, either in Glasgow or Edinburgh, in the new year.

Well have it staffed by one or two at first, providing dedicated service to our Scottish customers, he said.

ICSM now has 4,500-5,000 member companies.

SPEF director Jim Raeburn said it was vitally important for members to have as much financial knowledge about their customer base as possible.