Today's businesses big and small are focused on profitable growth. While it wasn't always this way, forward-thinking finance, credit and risk management leaders are increasingly making a positive impact on growth - balancing risk and opportunity by identifying and advancing profitable relationships with valued business partners.
Sure it's a balancing act. Managing the customer portfolio requires high financial management standards to increase cash flow and profit margins, manage risk, automate credit processes and ensure compliance. Simultaneously, finance teams are looked upon for ways to help sales and marketing teams build a qualified funnel with low-risk prospects and find customer upside opportunities who have strong financial standing, creditworthiness and share of wallet.
Finance and credit management professionals stand at the fulcrum when balancing business relationship risk and opportunity. Those who are bold yet responsible take a finance-led data management approach to their company's growth mandate. Unified data about customers and prospects integrated in everyday tools helps internal teams collaborate to make informed decisions, faster and profitably.
Do you see your finance team leading from this data-informed decisioning position? If you do, you're well on your way to evolving the finance/credit role from watchdog to growth innovator. If you don't, now is an opportune time to transform your role. It gives you the power to not only make smarter credit decisions, but also recommend the best ways to win and grow customer relationships.
The theme for SuiteWorld this year was "Make Bold Happen." What a great motivation to establish yourself as a key player in your company's success.
Speaking of being bold…NetSuite and Dun & Bradstreet (D&B) recently announced that, for the first time, businesses of all sizes have direct access to real-time D&B data and analytics inside NetSuite. Together we understand that you need trusted data at your fingertips to be engines of growth and catalysts of innovation for your business.
Here's how integrated data in your workflow ups your game:
- Unified Customer View - Single master record established to eliminate duplicates, and enhanced with firmograhics, corporate hierarchy, financial data and more for best practice data and credit management
- Buyer Readiness - Enhanced data and predictive analytics to pre-screen prospects, assess credit worthiness
- Credit Decisioning - Risk tolerance handling and shortened sales cycles with fast, automated and confident credit decisioning
- Customer Portfolio Management - Anticipatory analytics to prioritize opportunities and instantly view material changes
- Improved ROI - Real-time data sharing across finance and CRM systems and workflows
It's an exciting time to be a growth driver for your business. Cloud technology built with best-practice workflows and keystroke-ready data is empowering.
Be bold, be data-inspired, be confident - and watch your business grow.
Dun & Bradstreet and NetSuite are partners who provide NetSuite customers direct access to relevant B2B data to inform better, faster decision making across finance, procurement, sales, marketing and more. Learn more here.