Finance and sales are often cross paths because they follow different procedures and pursue different objectives. As a result, there seems to be a distant working relationship at times. The essence of modern credit management is to create synergy between the two departments. The main aim is to extract as much profit from the realised turnover and align growth levels for both profitability and turnover.
The most attractive prospects are companies with sound creditworthiness. It is because creditworthy prospects often provide the best guarantee for a stable customer portfolio in the long term. They often have the highest growth potential and therefore contribute towards your own company’s continuity and chances of growth. Regrettably, many companies aren’t taking advantage of the benefits of the cross functional relationship between the two departments. Data from a reliable external source is vital to making informed decisions. Rather than the reliance on ‘gut feel’ and ‘turnover’, sales teams should tap into financial information to ensure maximum efficiency.
In this eBook, we provide you with a guide on how to strengthen relationships with key departments to achieve mutual profitable goals.