Key account management and the development of key accounts are critical to an organization’s success or failure. The larger order or longer-term contract can smooth out cash flow and create significant profit potential. Multiple relationship management, networking, strategic planning, & effective negotiation are all crucial skills to maximize and maintain the potential of key accounts. Management of your key accounts cannot be left to chance or the potential consequences could be disastrous. Developing strategic account management techniques and key account managers should therefore be a priority in ensuring you not only protect existing clients from competitive attack but also more significantly build long and sustainable relationships resulting in excellent customer retention, improved sales, increasing margins and ongoing customer loyalty. Understanding and practicing key account management principles is essential for the long-term viability of any organization faced with a fast moving and competitive environment. Equally important is the identification and strategic implementation of KAM principles in target accounts.