Credit controllers are professionals who work in the financial department of a company in some capacity. In some cases, the controller’s primary focus will be on preparing and sending invoices to customers on credit accounts, as well as working with customers to ensure that those invoices are paid. Other types of credit controller jobs will entail overseeing the processes that qualify customers for and maintain credit lines, as well as the amount of those lines. A company can use a single credit controller to handle all of these functions, or it can assemble a team of controllers under the supervision of a credit control supervisor or manager.
One type of work that a credit controller might do is primarily entry-level billing tasks. This type of controller will ensure that the information found on customer invoices is entered correctly, that the correct charges are assessed, and that the total amount due on the invoice is verified. The credit controller will ensure that any outstanding credits are properly applied to the invoice and that all information is current. The controller may also be involved in the process of sending the verified invoice to the customer via email or regular mail.
Other credit controller positions may focus on different aspects of the company’s financial dealings. Some will concentrate solely on collection efforts, contacting clients who have unpaid invoices for more than a certain period of time, such as 30, 60, or 90 days. Replacement copies are frequently provided, and clients are worked with to make arrangements to pay off outstanding balances in a series of installments. Depending on the level of authority granted to the credit controller, he or she may be able to prevent future purchases on the customer account until the balance is paid in full.
A credit controller may be involved in the process of evaluating credit applications from potential customers and deciding whether or not to approve those applications. The controller’s job is to verify the information in the application, run credit checks on the applicant, and use whatever other strategies are necessary to ensure that approving the application does not expose the company to an unacceptable level of risk. The controller’s performance on these tasks will have a direct impact on the company’s ability to stay in business, as well as an indirect impact on customers who rely on the company’s credit privileges.
While a credit controller’s exact responsibilities vary depending on the type of business, the role is frequently concerned with safeguarding the employer’s financial well-being. The credit controller provides a valuable service to any company by ensuring that invoices are correct before they are sent to customers, working to manage the collection of balances due on those invoices, and even participating in the qualification process for extending credit privileges to clients. Even small businesses can benefit from the presence of a controller who oversees the company’s financial transactions and intervenes when a set of circumstances threatens to cause the company financial harm.