How Account Management Help in Future Job

            The aim of this paper is to provide detail information regarding how account management helps in selecting future job. The account management is a broad field and the individuals who chose account management have to deal with all most every aspect of business. The account managers build strong relationship with clients which allow them to learn various things and their skills keep on increasing with the passage of time. The account management provides a lot of opportunities to the individuals which help them establish career. Usually the individuals who select account management professions become account manager whose duty is to manage the accounts of their clients. The aim of the account manager is to serve their clients and do their best to enhance their sales.

Account Management

        Account management is a very broad field and allow the individual to become account manager and one day account executive. This account management filed provide a lot of opportunities to the individual and enhance its skills and abilities up to lot of extent. Not only account management filed provide career growth but also allow to enhance the knowledge and skill from various business perspectives. The account management allow the individual to learn regarding how the accounts are management and how the specific needs of the client can be fulfilled. The account manager can manage a single account or multiple accounts according to the policy of the organization in which the accountant is working. It means that account management field provides tons of opportunities and can help me in becoming account manager.

Career in Account Management

            The students who chose business studies and done specialization in accounts mainly select the account management career. In account management they can become account manager and can provide services to various clients. The individual can become account strategist, Key account manager, national account manager or global account manager. It means that in account management field there are different options to choose from according to the area of interest. The account management can help the individual to choose from various accountant related posts which it thinks that it best suits its experience and qualification. The curriculum of business studies is designed in such a way that it allow the students to learn various aspects of account management and how to become a successful account professional in future. In order to understand the account management it is important to understand the duties and responsibilities which an accountant or account manager performers (The Muse, 2018).

Duties & Responsibilities Account Manager

        In order to understand how account management can help in selecting the future career it is important to understand the duties & responsibilities of account manager to have clear idea about the account management field and the individuals who work as account manager. It is obvious that the individuals who study account management and get necessary experience in account management filed become account managers. The account managers have a lot of work to do and have to perform various duties. In order to get clear idea about the account management job the duties & responsibilities of the account manager are discussed in detail.

Long Term Relationship between Clients and account manager

            The first and most important duty of the account manager is to build strong relationship with the clients. The strong relationship with the client can be built by managing their accounts efficiently and focusing on the preferences or priorities of the clients.  It is the duty of the account manager to listen to the client and provide detail information to the client regarding the daily operations. It is the duty to record each and every transaction accurately and update the client regarding the financial position. Managing the account is not as easy as it seems because it requires lot of skills & effort (Cheverton, 2008).

Provide Services According To Clients’ Needs

        It is important to understand what the client is looking for and how the organization can meet the requirements of clients efficiently. If the clients are going to be satisfied than long term relationship can be established which will be profitable for the organization. It is the duty of account manager to use latest account management software’s so that the accuracy of recording data can be enhances and the various tasks can be performed in less amount of time. Using latest technology will not reduce the cost but also the efficiency of work will also increase. The account manager can build budget for both clients and the organization so that they have the clear idea about the financial condition and how they can perform various business activities efficiently (The Telegraph, 2015).

Enhance Reputation of Organization

        The account managers can enhance the value of the organization or its reputation by analyzing new opportunities and adding value to the work performed. The account manager can keep on learning new techniques through which the accuracy of accounts can be enhanced and can be maintained according to the client’s requests. The technology have allowed accountants to manage the accounts with efficiency. Through latest technologies the transparency of information has increased and the issues which the account managers faced in the past are resolved significantly. It is necessary that the accountants should keep on upgrading themselves regarding the latest technologies and practices available regarding the account management.

Communicate With Clients

        As discussed earlier the account management filed prepared the individual in such a way that it should not only able to manage the accounts appropriately but also learn such skills which a professional accountant should have. The communication skills are highly important for account manager or accountant. The account manager have to maintain strong relationship with client and it can only happen when the account manager is going to communicate all the necessary details regarding its account to the client. It is the right of the client to know what is going on and how the account is being managed (Woodburn & McDonald, 2012).

Forecast Account Metrics

        The account management field as discussed earlier is quite broad and prepare the individual to become a professional accountant having relevant skills.  The account managers have the skills to forecast accounting metrics and guide the client regarding the future outlooks of the market. The external environment factors such as economic factors and political factors have huge impact on the businesses which will definitely change the amount of the transactions. Therefore the forecast regarding the future outlook will help the client to perform business activities by keeping the forecast in in mind. The significance of account management can be understood from this thing that every organization needs to maintain its accounts and for this they do need account managers which can efficiently maintain their accounts. Selecting the account management as a career is a wise decision because not only it provides career growth but also provide such working environment in which any individual learn a lot of skills (Herrera, 2017).

Learning New Skills

        In today’s environment it is necessary to learn new things and increase the knowledge so that clients get best services. It is important to manage the accounts according to the guideline of GAAP (Generally Accepted Accounting Principles) and IFRS (International Financial Reporting Standards). With the passage of time the governing bodies keep on updating the rules and regulations. Therefore it is necessary that the accountant have the knowledge about the latest rules and regulations that are being imposed by the governing bodies. Today the business students learn about various strategies and approaches. It means that they have the necessary skills and abilities to select their desired careers and provide their services like professionals (Brown, 2018).

Skills Required For Account Management Career

        For understanding the job related to account management or how account management can help in getting a job in future it is necessary to understand what skills are necessary for the account management. For performing the any job accurately certain skills are required. Those individuals should peruse the account management career who thinks that they have the abilities which an account manager should for choosing the career in account management the individual should have the following skills:

Presentation Skills of Account Management

        In account management presentation skills are highly needed because the accountant have to present the accounts information to their clients. The better they present the information the better they can satisfy their customers. In increasing the portfolio of client presentation skills are used. Today’s clients need a lot of information about their accounts and how they are being managed. Clients wants to reduce their expenses and wants to increase their sales. Therefore it is the duty of account, manager to clearly discuss the details and proposed the approaches through which clients can enhance their sales and earn significant amount of profit.

Communication Skills of Account Management

        As discussed earlier communication play significant role in account management career and only those individuals should select this career who thinks they have good communication skills. The individuals who cannot communicate efficiently should enhance their communication skills before selecting the account management profession. The communication skills can be enhanced through getting training. Training is a good way to increase communication skills. In many organizations today seminars and workshops are held to enhance the knowledge and skills of the employees.  In accounting profession the communication skills are important because they have to meet with different clients and have to discuss the account management information which cannot be done without good communication skills (The Muse, 2018).

Problem Solving Skills of Account Management

        In today’s environment the competition in both national and international market have increased up to lot of extent. Due to increase in competition the level of various problems have also increase which I causing problems for the businesses. The organizations does not have time to spend long hours on finding solutions for the problems. That is why the organizations are looking for such individuals who have the abilities to solve the problems in less amount of time and come up with such solutions which are unique and solve the issue completely. In account management the problem solving skills have huge significance and allow the accountants to identify the issue effectively and rectify it in less amount of time.

Account Management Experience & Qualification

        In order to become account manager or joining the account management profession it is important to have necessary qualification and experience. Managing the accountant’s is the job of an experienced person and anyone who does not have prior experience or qualification cannot manage the accountants efficiently which can lead to lot of problem for the client. Therefore it is important to have necessary experience before handling the accountants of the client. After gaining necessary experience the individual can manage the accountants of various clients and will be able to build relationship with more than one client. Today the curriculum of business studies is designed in such a way that the students who want to join account management professions learn a lot of skills which are important for the students in their practical life.

Ability to Adapt According to Situation in Account Management.

        It is important to adapt according to the situation. With the passage of time the rules and regulations which are regarding to accounting information keep on upgrading. Therefore it is important that if the rules and regulations changes the accountant can change its strategy accordingly and implement the latest policies. The preferences of the clients also change with the passage of time and it is the duty of the accountant to meet the requirements of the client and change itself according to the clients’ behavior. It is important to satisfy clients otherwise the client will not establish long term relationship (Learn.org, 2018).

Technical Skills of Account Management

        The technology is becoming advance day by day and it is important for the accountants to learn latest software which are related to accounting and record keeping. The accounting software not only reduce the time related to information management but also reduce the cost of the accounting activities as well. In the past managing accounting information was quite costly and many errors occur when the level of activities increases. Today the software record the information without any error. The information is recorded in the system and the authorized individual can access the information. The latest software also focused on the level of security and enhance the security of the accounting information. The individuals who learn account management also learn the computerized accounting and software to record the information effectively (Cheverton, 2008).

Record Keeping of Account Management

            The book keeping is among the main task that the accountant perform. The account manager record the transactions of the clients so that when the clients need the pervious data it can be given to the client. The accountant should manage the information in such a way that the client can easily understand. The accuracy and transparency of information is highly focused during the book keeping. The individuals in their institutions are trained to record accounting information so that if they chose the account management carrier they are able to maintain the account professionally. In simple words it can be said that the account management career provides many opportunities to the students and allow students to learn things from various aspects. The account management professionals have to deal with also most every business aspects.

Coordination of Account Management

        The coordination skills allow the accountant or account management professionals to work with the accounting team effectively. Sometimes two accountants provide services to the same client therefore the coordination is required between the two individuals to provide the client best services. The accountants should make sure repetition of work would not occur. The coordination skills are required for maintain relationship with the clients and providing detail about the accounting information (Herrera, 2017).

Possibilities of Carrier Growth of Account Management

        The account management career provides career growth opportunities. The account manager can become account executives with the passage of time. The individuals can experience career growth by entertaining more number of clients over time. It can be said that in future if I select account management career it would provide be a lot of opportunities for growth and enhance my skills up to lot of extent. Today many individuals select such careers which not only provide career growth but also allow them to learn a lot of new things. As discussed earlier the account managers have to deal with a lot of things which increase their business exposure and PR in the market. When the account manager is going to provide best services to various clients its reputation in the market will increase and will become a reason for increasing the value of the business as a result (Brown, 2018).

        As discussed earlier communication play significant role in account management career and only those individuals should select this career who thinks they have good communication skills. The individuals who cannot communicate efficiently should enhance their communication skills before selecting the account management profession. The communication skills can be enhanced through getting training. In order to become account manager or joining the account management profession it is important to have necessary qualification and experience. Managing the accountant’s is the job of an experienced person and anyone who does not have prior experience or qualification cannot manage the accountants efficiently which can lead to lot of problem for the client (Woodburn & McDonald, 2012).

Conclusion of Account Management

        If all the above discussion is summarized than it is evident that Account management is a very broad field and allow the individual to become account manager and one day account executive. This account management filed provide a lot of opportunities to the individual and enhance its skills and abilities up to lot of extent. Not only account management filed provide career growth but also allow to enhance the knowledge and skill from various business perspectives. The account management allow the individual to learn regarding how the accounts are management and how the specific needs of the client can be fulfilled. The account manager can manage a single account or multiple accounts according to the policy of the organization in which the accountant is working.

        The account managers build strong relationship with clients which allow them to learn various things and their skills keep on increasing with the passage of time. The account management provides a lot of opportunities to the individuals which help them establish career. Usually the individuals who select account management professions become account manager whose duty is to manage the accounts of their clients. The students who chose business studies and done specialization in accounts mainly select the account management career. In account management they can become account manager and can provide services to various clients. The individual can become account strategist, Key account manager, national account manager or global account manager. It means that in account management field there are different options to choose from according to the area of interest. The account management can help the individual to choose from various accountant related posts which it thinks that it best suits its experience and qualification.

References of Account Management

Brown, W. (2018). 8 Top Account Management Skills Needed in 2018. Retrieved from https://accountmanager.tips/account-management-skills/

Cheverton, P. (2008). Global Account Management: a complete Action Kit of Tools and Techniques for Managing Key global Customers. Kogan Page Publishers.

Herrera, G. (2017). Want to Future-Proof Your Career? Try Technical Account Management. Retrieved from https://www.smartly.io/blog/want-to-future-proof-your-career-try-technical-account-management

Learn.org. (2018). What Are My Career Options in Account Management? Retrieved from https://learn.org/articles/Jobs_in_Account_Management_What_Are_My_Career_Options.html

The Muse. (2018). Could a Career in Account Management Be Right for You? . Retrieved from https://www.themuse.com/advice/could-a-career-in-account-management-be-right-for-you

The Telegraph. (2015). What Is an Account Manager? Retrieved from https://jobs.telegraph.co.uk/article/what-is-an-account-manager/

Woodburn, D., & McDonald, M. (2012). Key Account Management: The Definitive Guide. John Wiley & Sons.