Improvements for the credit and collections department aligned with the balanced scorecard. Case: trading company

Abstract

The main aim of this research work was to develop an improvement plan for the Credit and Collections Department aligned with the Balanced Scorecard, at Comercializadora Romher Ca-racas, C. A., dedicated to the commercialization and distribution of mass consumption products in Caracas, Venezuela. The company presented some issues due to the dynamics of the market, the policies established by the National Government for the sector, the economic situation that has caused the adjustment of the commercial conditions of the suppliers and towards the cli-ents. Those elements have affected all organizational levels, especially in the department under study, due to the absence of a methodology and the lack of application of the necessary tools to improve response times, the management execution and capitalization of opportunities. A qualitative methodology was used and through the research phases, it was possible to develop a mental map for the department, a tool that served to define the critical success factors which in addition of the interviews made possible to know the processes of the Credit and Collections Department and verify its execution. Once the information was analyzed with a SWOT matrix, the Balanced Scorecard adjusted to the department was built and the actions proposed for its implementation. The result of this research offers a basis for future research on how a mental map of a department’s processes based on the concept of the value chain could be a valuable tool in the study of improvement in the areas called secondary by Porter (2005).