What does a credit controller do?
An organisation’s cashflow health depends on the skill of their credit controller. They ensure that revenue and credit owed to the company is paid in a timely and accurate manner.
Credit control jobs involve assessing and managing the business’ credit risk by ensuring that new customers are thoroughly vetted and that the company month-end accounts are reconciled. If payment problems arise, they will step in to find a resolution and to highlight any potential debtor issues which may arise in future.
Credit controller job description and responsibilities
A credit controller’s primary function is to collect and reconcile credit notes and invoices owed to the company. They manage customer accounts, ensuring that new customers have healthy credit and that existing customers have settled monthly accounts in a timely manner.
Credit controllers are heavily involved in customer interaction, so need excellent communication skills, good levels of diplomacy and the ability to inspire customer loyalty and satisfaction. They work within a wider finance and accounting team, and usually report to the credit control supervisor, credit control manager or the credit manager.
Credit controller duties and responsibilities include:
- Creating and upholding payment procedures and policies that ensure timely payment
- Responding to client queries
- Keeping customer retention levels high
- Reconciling accounts
- Providing administrative support to finance team
- Keeping close watch on debtor account balances
- Reducing debtors’ ‘Days Sales Outstanding’
- Ensuring the team adhere to credit and collection procedures
- Customer relations
Credit controller qualifications, skills and experience
When hiring for a credit controller role, the majority of employers will be looking for professionals with 2 – 3 years’ experience in credit control. Experience in professional services or a software environment is beneficial, as are qualifications like ACA.
The strongest candidates will have excellent customer services skills. Although it isn’t essential for credit controllers to have a degree, they should also possess some of the following qualities:
- Experience with ERP systems
- Excellent interpersonal skills
- Excellent communication skills
- Good negotiation skills
- Able to clearly explain financial matters
- Business acumen
- High attention to detail
- Problem solving skills
- The ability to prioritise a heavy workload
- Good analytical skills
Are you looking for a credit controller job? You can find our latest vacancies here.
How much does a credit controller earn?
A credit controller salary is determined typically by experience, soft and technical skills, and the scale of responsibilities in the organisation. Find out what a credit controller is earning this year and other factors affecting the industry.