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Jul 01 2019
Why Customer Visits?
Rebecca Mullins, CCE, Codale Energy Service & Supplies |
Customer visits are essential to the growth of any
company, large or small. The customer relationship generally will begin with a
sales call as the initial contact, however customer visits can influence the
customer relationship on many different levels from sales to marketing to
accounting.
Building relationships with customers is an
excellent way to set a good foundation for future success with a company
whether it is future sales or the ability to collect an account. The visit
opens the door to allow the credit team to partner with the sales team which
can be a constant struggle. The credit department's most important function is
to protect assets and the A/R which does not always sit well with sales teams
and has garnered the credit department the lovely nickname of "The Sales
Prevention Department," as one of my sales managers has called the credit team
many times.
That moniker, however, does not have to define the credit team; this
article will present a few ideas on how to prepare for a customer visit and to
maximize the information gathered.
1) Ask the sales team if you can spend a day
going on sales calls with them. Ask if a lunch meeting has been set in the
future that the credit representative can tag along on.
2) Set
an agenda. What type of information does the credit team need from the
customer? An agenda helps keep the topics and conversations on track.
3) Is this a good will - 'get to know you' visit? It is
very important to get to know all customers when possible, both the customer that
pays current and the customer that pays past due. Take the office some cookies
or treats. Once you get to know the customer better, it will make any hard
conversations in the future easier because they know who you are. A visit can build
trust between the credit department and the customer, allowing an avenue for
open communication and transparency.
4) A
visit to their location will give the credit team a visual view of how the
company is doing. Is it still growing or does it look empty and being cleared
out? Does the customer look like they have the funds to pay the trade account?
Those are just a few examples of many questions that could be answered on a
visit so that the credit team has a greater understanding of what the customers
business status is.
5) Does the credit department need to understand how
the accounts payable team operates at their customers office? The answer is
YES! It surely helps the credit team with payment application and any dispute
resolutions. Understanding the customer will allow the company to service the
account in a better and more efficient way.
The credit/customer relationship is one of the
most important relationships that a company will hold, in addition to the sales/customer relationship. There is not a way to have one without the other in
trade credit. It is imperative to have strong customer relationships to lower
risk, assess stability and partner with sales to allow growth. Please give your
customers a visit to strengthen your relationships today, it will help open
doors to communicate in the future.
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