Banking on Better Cash Flow
Ask what your financial institution can do for you
What makes a business successful?
Is it having the right products and services? Hiring top-notch employees?
According to Inc.com, cash flow is one of the most important components of success for small and mid-sized businesses. In fact, without the available cash to pay suppliers when they need to be paid, profits can be meaningless.
Though maximizing cash flow might sound like a difficult concept, the premise behind it is very simple: you need to collect money from your customers faster and delay your payments.
So where do you turn to get help with that?
Your financial institution is a great place to start. We offer an array of services that can help you manage your cash more efficiently.
Specifically, we can help you do the following:
Speed collections and consolidate funds. How quickly are you processing customer payments and making deposits? Services like online deposit capture let you scan and deposit checks right from the convenience of your office, helping you make your deposits sooner and get faster access to funds.
You can also take advantage of our Automated Clearing House (ACH) services, which allow you to collect customer payments electronically, thereby reducing mail float.
Additionally, merchant services, which provide the capability to accept credit and debit card payments from your customers, can help you generate cash flow. In fact, research has shown that accepting these types of payments can result in increased sales and profits. And because credit card sales are automatically deposited into your account, you won’t have to make special trips to deposit funds.
- Manage payments. Successful cash managers know that you can maximize cash flow by paying your suppliers more efficiently. ACH services and wire transfers allow you to pay electronically and hold on to your funds longer.
- Invest excess funds. Many businesses have excess cash that just sits in their accounts. With our sweep products, we can automatically and seamlessly invest your idle funds overnight in secure investment vehicles.
- Track and manage finances. One of the most important steps in managing your cash flow is knowing your cash position. With tools like online and mobile banking, you can get up-to-the-minute account balances at any time. Plus, you can make electronic payments, see what checks have cleared and set account alerts to inform you when your account falls below a target you specify.
- Manage seasonal cash flow. If your business is seasonal, you may need help with managing cash flow during slow times. To assist businesses, we offer lines of credit that let you access cash when you need it.
Cash In on Our Experience
As a financial institution dedicated to helping build businesses, we understand how important your cash flow is to the success and health of your business. We also know that in challenging economic times, it’s more important than ever to manage money more efficiently. To learn more about ways we can help you maximize your cash flow, stop by your nearest office or give us a call to speak with one of our knowledgeable, local business professionals.