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Definition

book of business

Book of business is another name for an account or client list. A well-maintained book of business will help company representatives continually improve client and customer relationship management (CRM) and focus attention on highly-valued listings while also nurturing lower-valued relationships.

Because it is an important business asset, a book of business must be maintained on a continual basis. The value of specific listings in the book is often based on the dollar amount each account or client currently generates, but valuation may also be based upon other criteria such as influence in the marketplace, potential to bring in new business, customer loyalty or long-standing personal relationships.

In some industries such as insurance, law or financial investment, a book of business may be sold when the book’s owner retires or closes a practice. In such cases, monetary value for the book may be contingent upon the purchaser’s ability to retain clients after the sale.

This was last updated in January 2016

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