The largest client is not necessarily the most valuable, and businesses should adopt a more strategic approach to client selection and forging relationships. This is one of the core issues discussed at a recent value creation workshop run by VIA International and hosted by Advanced Consumables Technologies (ACT).
The concept of value creation as a way to measure key accounts and focus on those that deliver the greatest return is gaining momentum within the channel. In keeping with its three-tiered value-add programme for resellers and channel partners, ACT hosted international business analysts to help explain a number of financial fundamentals designed to create and manage value in order to improve the bottom line.
Speaker Tarek Sherazee from VIA International delivered course material with a specific emphasis on the value creation tool.
"The market dictates that businesses adopt a more focused approach to clients. An interesting aspect to come out of this session was that the largest or most substantial client is not necessarily the best. Resellers have to look at a number of factors in order to isolate and pay attention to those clients that require more attention. Our aim is to facilitate as much discussion around these issues in order to strengthen the channel and add more value," says Anton Herbst, MD of ACT.
"This was a fairly intense session and we believe the target group was able to derive a great deal of value from the experience. Businesses tend to overlook certain clients in favour of other more substantial or larger ones and, from a strategic business point of view, it may not be the most profitable route.
"Management must decide how clients contribute, what value they bring to the table and what their requirements are. The value creation tool discussed at the conference can be adapted to the local market and can make a difference if applied in a strategic way," adds Herbst.
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