In this episode, we explore the keys to a productive relationship between Credit and Sales. When Sales and Credit are misaligned, there will be conflicts that affect both cash flow and your bottom line. Credit’s job is to facilitate a profitable sale. That means rather than stop sales to high-risk accounts, credit should find ways to make the sale without incurring undue exposure. Sale’s goal should be the same: a profitable sale.
When the two functions are aligned with everybody working together toward the same goal, everything goes more smoothly, hiccups in the quote-to-cash process are resolved more easily and quickly, and the customer experience is enhanced. The sales rep’s job is easier when they are informed that a customer is past due or disputing invoices. It helps them to know which customers have credit availability and who needs to pay before they can get another order, or if a prospect is a high credit risk. Likewise, Credit’s job is facilitated when they understand the sales department’s goals, the impact of new product rollouts, and when the sales rep shares insights about a customer’s operations. Alignment starts with policy and is facilitated by mutually beneficial practices and good relationships.
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