Profit Management

The single most important asset of any company must be its customers. From this source both the immediate and future wealth of the business is generated. In the transitionary period from making sales to the ultimate realisation of those sales into the crystalised form of money, an invisible erosion takes place during its journey from your customer to your bank account. The section of your business that oversees this crucial journey is also the one that in many companies is the least understood and in most instances is given the lowest priority. A reassessment of attitude and a widening perspective is long overdue in respect of the Credit Control Department. Such is the importance of the function in today's economic climate that its title should be renamed as the Profit Management Department. Yet regrettably many firms today still regard the credit function as a means only of collecting overdue accounts. They ignore the potential of the function as both a source of increasing sales and as a profit centre in its own right