Account Management

What’s the Difference Between Account Management and Debt Collection?

Account management is a proactive, relationship-focused approach to keeping client accounts healthy—monitoring payments, sending reminders, and offering solutions before issues arise. Debt collection, on the other hand, is reactive and commences once payments are overdue, focusing on recovering outstanding amounts through more formal processes.

Example: A customer with a bill due on the 1st might receive reminders and a friendly follow-up call in the first week (Account Management). But if payment still isn’t made by the 30th, the account may be escalated to a collections agency to begin recovery action (debt collection).

Independent Account Managers (IAM)

Independent Account Managers (IAM) is a division of Tasmanian Collection Service. We are specialists in account management and debt recovery.

As leaders in this field, we have the right people, the right systems and the right approach to reduce your average debt age.

What we do

• An IAM consultant will conduct a review of your business’ existing credit policy and account management procedures.
• Where necessary, we will suggest ways to improve your credit policy, minimising the risk of bad debts arising.
• We then design and implement an account follow up procedure specifically tailored to your business.
• IAM administers your accounts from to ensure the fastest possible settlement of the account.
• IAM promptly remits monies paid and we can keep you informed on all activity on your outstanding accounts through the client portal of our website.

The Benefits to Your Business

• Gain a practical and effective debt management policy tailored by experts in the credit industry.
• Improve cash flow and strengthen customer relationships with IAM’s professional, third-party approach to encouraging timely payments.
• Reduce the age of outstanding debts, enhance liquidity, and boost overall profitability.