Printing Enterprise Management: How to Protect the Intangible Assets of Printing Enterprises
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An enterprise's intangible assets often have a major impact on the value of the enterprise. It can not only greatly enhance the value of the enterprise as a bright spot, but also destroy the value of the enterprise as the chief culprit. John Hyde, senior vice president and consultant at NAPL (American Printing Leaders Association) believes that managers of printing companies must take active steps to protect their intangible assets in order to ensure the value of the company.
Intangible assets of companies are easily overlooked compared to printing equipment and other production facilities, but in many cases they will be your most valuable asset.
An enterprise's intangible assets often have a major impact on the value of the enterprise. It can not only greatly enhance the value of the enterprise as a bright spot, but also destroy the value of the enterprise as the chief culprit. John Hyde, senior vice president and consultant at NAPL (American Printing Leaders Association) believes that managers of printing companies must take active steps to protect their intangible assets in order to ensure the value of the company.
He pointed out: "General intangible assets are very easy to change. Once you do something wrong, they will quickly deteriorate. If you do not take effective protective measures, these assets may become worthless."
In general, the intangible assets of printing companies mainly include the following items:
Company Name
Reputation and market share
Customer and prospect list
Sales staff and customer service representatives
Data and image files
Work order
Evaluation history
Phone number, internet domain name and website
Trade form and / or Logo
Backlog of customer service
Hyde said: "There is a very close relationship between the value of the enterprise and the value of the intangible asset. The value of the enterprise is higher than the data it reflects on the balance sheet because it is an intangible asset. Strong intangible assets can help the enterprise. Owners achieve their goals. But when companies go through low valleys, many managers can't take action to protect their intangible assets as soon as possible. This is a very big mistake."
The customer list is one of the most valuable intangible assets of an enterprise. To maximize its value, companies must have the most up-to-date and accurate customer information. Hyde said: "An outdated or inaccurate list of customers may hide valuable sales leads." To have a perfect customer list, printing can start with the following:
Establish and maintain a database containing the customer's name and all relevant and current contact information, the more detailed the better.
Classify customers and businesses based on their business volume.
Classify customers according to their contribution to the company. As a result, the ability to track and analyze customer profitability becomes very important.
Specify a specific service object for the salesperson/customer service representative.
In addition, printing companies should adjust their strategies at any time according to their own economic environment to protect the company's intangible assets before the business declines.
Time is tight
Many printing companies are only able to basically maintain their operations. If they fail for two or three months, or lose a big customer, their business conditions will deteriorate rapidly.
Hyde pointed out: "When the environment begins to deteriorate, the printing house does not have much time to consider countermeasures. If a printing house is unable to pay the supplier's payment, its intangible assets will soon be damaged - sales People will leave the company and take away some of their customers, no matter how appropriate they are, but this often happens."
In order to avoid this, printer managers must protect their intangible assets as quickly as possible. In fact, they can transfer customer orders to other printing companies to ensure they can continue to serve. However, Hyde suggested that companies should not take this approach unless they have a huge risk.
He said: "If you introduce your customers to competitors, it is very likely that you will lose these customers. In addition, issues such as how to pay and identify creditors need to be properly addressed."
Of course, this is an ideal solution for companies that have no other way to think about it. Hyde said: "Handing over orders to other companies can at least maintain your reputation, and if you plan to sell the business or stay in the industry, it is necessary to take such measures. Because of a company's Once the reputation is destroyed, it will be difficult to recover."
Clear rumors
A company must rely on the elimination of rumors to maintain its reputation. When a company enters a difficult situation, misunderstandings and rumors will come to the fore, which will cause greater harm to the company, especially in this enterprise that will be sold. In case.
Under this circumstance, the printing enterprise manager must communicate with suppliers, creditors, customers and shareholders to let them recognize the message and avoid misunderstanding of the business situation of the company. The sooner you communicate, the more timely, the more opportunities companies have to maintain intangible assets.