Can you remember when at school who wanted to be a credit controller or a sales ledger clerk, or who thought they would excel at asking people for money? I can't either!
Times are changing. There is a Professor Wilson at the University of Bradford who is the first 'Professor of Credit Management'. However times are not changing quick enough for small and medium size companies (SME's). Large companies, and to a degree some medium companies, can access/afford those with the ability to take companies into the millennium and beyond in the area of credit management.
SME’s have to rely on staff whom either 'fell into' credit management or were 'pushed'. This does not mean that those who work in such positions for SME's are not the best people in the company to take on this role, but it is my experience that many lack the necessary credit management skills to maximize profitability within their company.
I know of a number of credit control staff who do not have the skills to attempt a telephone call to a debtor to request payment of an overdue amount. To be fair, it is the business owner’s responsibility to ensure that 'square pegs are not pushed into round holes'. Training is not the answer in all cases. You must have the right foundation on which to build the necessary skills:
Credit Control Staff :-
want and have ability to learn
confident, assertive (not pushy)
an interest in credit management
target orientated
tactful – firm – friendly
self starter
alert – a thinker – a strategist
a good communicator (including listening)
not easy to upset
Experience is not important when considering the post of credit controller. It is not difficult to learn, understand, and enjoy credit management. Having the necessary characteristics can be the difference between a sales ledger clerk and an effective and efficient credit controller.
Please Note: if you have a sales ledger clerk who fits the above characteristics (and many would) please do not write to me complaining about my comments, it would be simpler to call your staff 'Credit Controllers'.
This is an age of intense competition, and nowhere is that competition more fierce than in 'cash flow management'. You want the best salesman, you want the best worker, you want the best product, and you want to be the best! Your cash flow management is probably a good area to start (or continue) the quest for that goal.
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Credit Control Staff
