As we contemplate trust and transparency in business against the backdrop of unethical sales practices events over the last year—think Wells Fargo—and the need to prioritize customers’ needs and expectations over the sales journey, the various customer touch points along the value chain come to mind. For many companies, moments of contact stretch out over months or years. Indeed, this sales practices ecosystem is expansive, and everyone in the company has a role to play. Not just front line staff, but also product managers, marketers, and the internal audit executives responsible for verifying that proper controls are in place.
Preventative controls that keep a customer’s needs and expectations top of mind are critical along the value chain and play a key role in protecting a company’s reputation. If neglected, these safeguards can lead to far-reaching and potentially enduring repercussions, not only to the transaction at hand but to a company’s brand and competitive position.