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Module 1: Embed finance across the company5 Lessons
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Module 2: Identify profit and cash initiatives7 Lessons
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Module 3: Oversee and drive business change13 Lessons
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Module 4: Deliver data-driven strategic insights6 Lessons
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Module 5: Challenge your Board and influence strategy9 Lessons
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Module 6: Drive key decision-making11 Lessons
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Module 7: Represent your business externally6 Lessons
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Module 8: Become a critical and influential voice5 Lessons
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Module 9: Deliver the business plan7 Lessons
Engaging with customers and suppliers
Dan Wells October 11, 2023
Finance leaders play a huge role in both the sales and procurement processes. Most finance leaders will have some form of regular interaction with your customers and suppliers.
Your finance team is responsible for maintaining positive relationships with customers and suppliers, ensuring that all financial transactions are handled in a professional manner. You are also likely to play a role in negotiations and conflict resolution.
To build strong relationships, it is important for you to be knowledgeable about their products and services, and to be able to answer any questions that may arise. Additionally, you should always be willing to go above and beyond to support their satisfaction.
Each of these relationships impacts on your business reputation and the ability for your company to work effectively with them.
Building strong customer and supplier relationships
Here are five tips to help you develop strong relationships with your customers and suppliers:
- Take time to get to know them on a personal level. This will help you understand their needs and how best to meet them.
- Make sure that you are aware of any changes in their situation or circumstances so that you can act accordingly when necessary.
- Communicate effectively and understand what each party wants and needs from the other.
- Anticipate and address any concerns that they may have in a timely manner.
- Remain professional at all times, even during difficult conversations. This will help to maintain the trust that you’ve built with your customers and suppliers.
Summary
Developing strong relationships with customers and suppliers is essential for the success of any finance leader. By following these tips, finance team members can ensure that you are providing the best possible service to help to grow your business.
Assess your skills
How often due you interact with your customers and suppliers?
What is their likely perception of you and your team?
Do you make them feel valued to your company?
What could you do differently to strengthen your relationship?
