Bills, bills, bills. They always arrive at the worst possible time. Like Granny Ina phoning for a blether right in the middle of Game of Thrones.
But for small and medium-sized businesses anything that affects cash flow is the biggest reason why they fail, killing a business that would otherwise have survived.
You can have a host of enthusiastic backers, an in-demand product or service and orders rolling in, but if you’re not on top of your cash-flow, you’re in trouble.
One of the biggest cash-flow calamities comes from late or non-payment of invoices from clients.
All too often, new start-ups or those who’ve not established late-payment penalties are taken advantage of by other companies.
So who you gonna call? That will be the credit controller.
The buck might stop with the CEO, but in most small and medium-sized companies, the credit controller is the number one guardian.
So what does this important job entail?
Well, firstly, to avoid confusion, we should point out there are generally two branches of credit controller; those working in consumer credit, where you deal with the public, and those in commercial credit, who work with business customers, which is our focus here.
A credit controller based within the finance department would usually report to a company accountant and the main thrust of the job is managing all the money borrowed or owed to the business.
The credit controller will handle the collection of finances and resolution of account queries, as well as issuing sales invoices and credit notes.
One of the central parts of the job is contacting customers when payment is overdue and deciding whether to allow credit to a debtor, so good business judgement is a must.
To make the grade you’ll need to be able to explain financial matters clearly. The ability to establish and maintain good working relationships with clients is essential to make for the smooth running of accounts and to encourage timely payments.
Most credit controllers have a background in administration and being handy with accounting software programmes and invoicing is a great start.
It goes without saying this job requires a good head for numbers. You’ll also need to be organised and able to work calmly under pressure.
Above all, this is a job that requires tact and sensitivity, so if your idea of a communications expert is Donald Trump, this probably isn’t for you.
Still up for the challenge? If you have what it takes to be a credit to any company, check out the vacancies at s1jobs.