Why soft skills are your superpower throughout a career in credit

Whilst technical skills are important to succeed in the finance sector, soft skills are a crucial tool you can use to enhance your entire career. Especially with the rapid developments we are witnessing in technology, namely artificial intelligence (AI), developing the skills that we can thrive in as humans is more crucial than ever.

I spoke to Kiera Howes and Nicole Carroll, both credit controllers at Hays studying for CICM qualifications, to hear their first-hand experiences when it comes to starting a career in credit today, and the skills they need under their belt.

Although there are a vast number of soft skills that can be utilised to facilitate success as a credit controller, the three key examples that stand out are excellent communication skills, managing your time effectively and the ability to solve problems.
 

Communication

Being able to communicate effectively is essential in credit control, as Kiera states: “There is so much emphasis on having to explain things to people to solve issues, to show empathy and to build a rapport with our colleagues, as well as our clients”.

The ability to interact well with people underpins success throughout a career in credit, as it can improve efficiency and productivity, and help build and maintain a positive reputation for the organisation.

Whether that be face-to-face, over the phone, or on an email, professionals must ensure they interact in a clear and concise way; plan what you’ll say beforehand and be confident about the purpose of each interaction, to avoid confusion and misinterpretation, which can be critical when dealing with credit. It’s also useful to have a focused outcome in mind and stick to the main point, to help you stay on track and reach your target.

To an extent, all interactions are different, so it’s crucial to have the skills to gauge the situation and determine which communication approach is appropriate.

Ultimately, sharp communication skills make a person more employable, approachable, able to navigate different scenarios, and likely to build strong working relationships that enhance job satisfaction and success.
 

Time-management

Exceptional time-management skills have the power to transform your day-to-day professional life and your career in the long term. Nicole describes some of the benefits she found since developing this particular skill: “By learning how to manage my workload effectively in my role, I am always on top of my follow-ups with my clients and I know exactly when to chase so I don’t miss things anymore.”

Being organised in terms of deciding which tasks are a priority and how to plan your day or week based on this allows you to feel more in control, keep calm under pressure and not become overwhelmed. Regularly check your sales ledger to keep up-to-date and stay on top of payments.

If you have a personal work timetable that is realistic, you can focus on completing the task in front of you accurately and with confidence, rather than having multiple responsibilities on your mind and a lack of clarity about when to face them.
 

Problem-solving

These skills are not mastered overnight and instead come with practice and self-belief.

As a credit controller, you will inevitably come across obstacles and developing the skills to overcome them is imperative. For example, you may need to recognise any issues with payments or invoices and act accordingly to achieve the best results.

Utilising analytical thinking to become aware of the problems that could arise is another invaluable skill, to enable you to make well-informed decisions and come up with solutions. As Nicole describes: “You are effectively managing accounts, making sure they don’t go over their credit limit and double checking that everything is allocated correctly; it is so much more than just chasing when invoices are overdue”.

These skills are not mastered overnight and instead come with practice and self-belief; Kiera shares her own experience with identifying what areas she needed to improve in: “When I first started [a journey in credit control], I was terrified of dealing with difficult clients, but now it doesn’t faze me. I overcame this by joining calls and listening in for a while whilst my colleagues did the talking; I heard what terms and phrases they used and now they come naturally to me”.

No matter what point you are at in your credit career, communication, time-management and problem-solving expertise are key ingredients for success. These soft skills, which are transferable across a range of roles, will not only help you to flourish in your current position, but are bound to future-proof your career. 

As featured in the CICM Magazine.