"You can't trust the salespeople. They will do or say anything to get an order released!" Have you ever heard that before? Or perhaps the flip side from the Sales perspective, "Those credit guys are only there to prevent sales; they don't want to help us at all."
Unfortunately, this is a very common theme in many credit departments across the country. But things don't have to be this way. I tend to believe that this way of thinking is flawed at its core. Both departments MUST know that they are both in place to assist one another. A top-notch credit department is only as good as the level of trust it has with sales, and a top-notch sales department is only as good as its reciprocal trust with credit personnel.
I'm in no way saying that a company can't make sales if there is a crevasse between sales and credit, nor am I saying that the same company's credit department can't function adequately if they leave sales out of the equation. But I am saying that neither department can be all it can be unless there is cooperation between the two. If you'd like to optimize sales and reduce delinquency rates, read on.
How many of you are in sales?
If you answered "no" to this question you would be mistaken. Everybody is in sales, one way or another. I am a credit manager by profession, but if I want to go play golf on a warm Saturday morning, I have a sales presentation to perform for my wife. I must "sell" her on the idea that my playing golf is mutually beneficial to us. Otherwise, there's a higher than average chance that I'll be shopping with her for the next several hours instead of being on the first tee with my foursome.
This same mantra holds true in my work. When we see a weakness with an application, or a disturbing signal with an existing customer, I have to "sell" the salesperson that re-visiting that application or withholding shipment of that order is the right thing to do, at least for now. If I don't make the effort to explain why I think these actions are needed, I risk alienating a sales rep who would otherwise be a huge asset for me down the road. Nobody knows the customers better than the sales reps. They see the customers face-to-face multiple times per year. Sales reps possess a vast amount of knowledge about the customers, and, if I ever intend to draw upon that knowledge, I need to realize that fact.
Mutual Trust
It all boils down to a mutual trust between the sales reps and the credit department. Once the two have a level of trust between them, the relationship will flourish. But how does one go about building that level of trust?
I suppose that if one polls ten different credit managers, one might get ten different methods of fostering trust with sales. I prefer to link it to one main idea, and that is to build relationships with them. Salespeople are just that, PEOPLE. The analysts in my department, along with me, make every effort to go the extra mile to get to know the sales reps on a personal level. This does not mean that you and your spouse have to go to dinner with them and their families on Friday night. But it does mean that one should take a vested interest in those sales reps, getting to know things about them: What motivates them, where did they go to college, how many children do they have? Those little tidbits, and other little fragments of information help tear down any barriers between the two PEOPLE involved. You are no longer looking at a sales rep and a credit person, you are talking about two people becoming friends.
One excellent way to create a bond with sales reps is to make every effort to ride with them periodically. Travel to their territories to get a better understanding of both the salesperson as well as the customer base in that area. Prove to them that you are deeply interested in helping them build their territories and stockpile them with profitable customers. When two people are in a car riding between sales calls, a lot of discussion takes place, and not all of it is business related. Use the windshield time to create that bond, talking about your respective families, deer hunting, sporting events, your aforementioned golf game, or where you go to church. The subject does not really matter, because the idea is to get to know them on a more personal level.
And when you do go into a customer's business, stay involved in the discussions, display a keen level of interest, and find creative answers to solve the customer's issues should they broach them. When you leave there, the sales rep will make mental notes of your performance, and it can only help build a positive image of you and your department down the road. It also helps if you pick up the tab, as sales reps don't get too much of that on their jobs. These little measures are remembered.
Additionally, make every effort to attend sales meetings. Visit with sales managers regularly (not really a set meeting, just pop in and say hello, ask how things are going) and let them know you want to be a larger part of the process. Ideally, the credit staff could get invited to larger sales meetings, which is a boon for both departments when that does occur. In essence, be visible to the sales people. Let them know, either in front of the group or individually, that you want to help them make more sales. Convince them that solid communication between your departments will only help to promote valuable sales, which helps them individually on payday. And the company benefits daily.
Once you have forged a trusting relationship with sales, there is only one more thing to do. It's a very simple rule, and if you follow it you stand a very good chance of enriching your relationship with the sales people. That rule is: DO WHAT YOU SAY YOU WILL DO. Always return calls or emails promptly and courteously, and start most conversations with some small personal note. And it goes without saying that you should expect the same treatment from them. That, of course, is the only way a relationship can prosper - mutual respect.
As your tenure with your company moves along, you will see positive benefits from these relationships. When salespeople recognize you as an asset to them and to what they are trying to do, you will find your department playing an increasingly important role with them. They will come to you more quickly with issues like large pending orders or that stubborn customer that FINALLY signed a credit application and needs an order tomorrow. They'll give you more information, which only helps you make more educated decisions.
If you work with them, they will work with you. Only then can utopia be achieved.
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