Account Management

Account Management

 

As both people and businesses begin to feel the economic impacts of the Coronavirus, Tobias Baer provides clear steps that can help your business deal with delinquent accounts.

Many of my clients so far have experienced less delinquencies on consumer debt than I had feared. Unfortunately I don’t think that I can claim that this is only because I’ve helped them draw up extraordinarily effective credit policies and scoring systems – instead, this time around delinquencies themselves might be delayed, and lower balances today may be the receding water levels we observe before a tsunami. A welcome side-effect of lockdown measures across the world was that many consumers had a lot less opportunity to spend – discretionary spending has nose-dived by 30-60% in many markets and card portfolios. And those who were robbed of their income sources by Covid-19 often had some buffers (cash and credit lines) that they could draw upon.

 

Advice included in this article:

  • How to segment delinquent accounts
  • Build an economic model
  • Reassign accounts to dedicated team

 

Read the full article, Three Tools You Need to Stem the coming Tsunami of Bad Debt, on LinkedIn.

 

 

Azim Nagree provides three factors that can help determine whether you need a single, mixed-function team or two separate teams when it comes to account management and customer success.

‘What’s the difference between Account Management and Customer Success? And more importantly, when do I need separate AM and CS teams?’

I’ve been asked this question multiple times in the last few months so it’s clear that many people are grappling with this problem. The short answer – it depends. Specifically, it depends upon your product, your P&L and your customers.

What’s the difference?

Most people know that Accounts Managers are different to Customer Success Managers. But what precisely is the difference? It lies in the relationship they have with the customer.

 

The three factors discussed are:

  • Product complexity
  • Profit and loss
  • Customer feedback

 

Read the full article, Account Management? Or Customer Success? Or Both? on the Nagree Consulting website.