Important Insights From Corporate Linkages
Effective account management requires comprehensive view of an entity and its corporate linkages. This is especially so for key account management to upsell, cross-sell and provide consistent pricing model and UI & UX across the group. Failure to conduct a thorough linkage check can results in embarrassing mixed treatment, conflict of interest issues, penalty from regulators and affects reputation. This is especially for legal and professional firms who unknowingly engage in legal action against a related company of a client or offering consultancy service to an audit client.
Establishing corporate linkages lets you:
- Identify new business opportunities and grow sales across your customers' related companies with upsell and cross-sell effort.
- Increase buying power by aggregating purchases from multiple suppliers belonging to the same group
- Determine and manage the total risk or credit exposure across the business group and not just individual entities.
- Prevent conflict of interests in your business transactions and inconsistent treatment across a group.
- Enhance the effectiveness of your KYC function and avoid business relationships that can affect your reputation
- Better customer and market analysis for strategic decision making