Thursday, 29 November 2012

A Financial Directors view of KBSA


Again the industry is throwing around the “should I shouldn’t I be a member of KBSA” who are now recommending that customers only buy from their members as they are the only ones offering “vital protection in volatile market.”

As the finance director of an independent kitchen studio here is my view

I have always thought that for the KBSA to work it would have to have the same public recognition as ATOL and ABTA. But we all know why we choose to purchase from ATOL/ABTA members it is because we half expect problems with late or cancelled flights overbooked hotels or lost luggage so we protect ourselves.

I have had customers ask me “how do I know you will be here in 6 months” and to this I have replied with honesty that as I do the finances I can guarantee that we will be here  and If  I thought the company wasn’t financially viable then I wouldn’t take the order.  Also by keeping a good set of accounts I am aware of the state of my suppliers which allows me to be vigilant regarding their stability.

I would not want a customer to choose my company over another because I had certain letters of insurance. I do not want to advertise myself as the company who might stuff it up but its ok I’m covered.

So in conclusion to my first albeit short blog the answer is quite simple customers do not need extra financial insurance from a well managed business with well managed accounts.
Diane

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