Joseph Busuttil, director general of the Malta Association of Credit Management, started a discussion on LinkedIn implying that the credit management function is often seen as a ‘necessary evil’ function and therefore of little help in providing sustainable competitive advantage for a company. He states that an adequately equipped credit function is an indispensable resource. Properly skilled and trained credit staff is a valuable asset to the business organizations. The credit function has an important role to play in gaining and sustaining competitive advantage in the market and is far from being the necessary evil function.
The credit people are the ones who are in direct contact with customers from the beginning up to the very end of the business transactions. They are in an ideal position to build good business relationship with customers. They are the employees who can foster trust between the customers and the firm. Hence, the credit team can be instrumental in building the good image and the desired unique reputation in the market. To read the full story: Click on the link”Credit Management – The Necessary Evil Function?
BIIA Newsletter October II – 2010 issue