Building and retaining a sustainable relationship between sales and credit teams

Abstract

In a contemporary business environment, the relationship between sales and credit teams plays a pivotal role in reaching organisational success. Building and sustaining a strong relationship between these two teams is not merely a matter of convenience, but it is nowadays considered as an imperative strategic approach. Intensifying efforts to dismantle the barriers within the sales and credit teams represents a relatively new approach for some organisations, whilst other organisations that have already established a well-defined synergy between these teams are to remember that relationships require continuous attention and can be further enhanced (Shappell, 2015). This study explores the dynamics and challenges that organisations face when managing the relationship between the sales and credit teams. The study employed a comprehensive methodology involving a qualitative approach that comprised the conduct of semi-structured interviews with key participants working in different local organisations. The findings emerging from this study suggest the importance of proactive collaboration, clear communication, and mutual understanding to enhance the synergy between sales and credit teams. Furthermore, the study reveals that aligning objectives and incentives can mitigate conflicts and encourage cooperation. In conclusion, the implications and recommendations originating from this research can guide organisations toward the success of this relationship, and thereby unlocking the full potential for revenue growth, risk mitigation and customer satisfaction.