For a business owner or leader, financial organization and management is an essential component of sustaining a healthy business. Utilizing treasury management services can help you optimize financial resources and manage risks effectively, ensuring that you will have sufficient funds to meet business goals and growth opportunities as they arise.
Key features of treasury management include enhanced security and fraud protection, liquidity management, payables/receivables solutions and more.
The right combination of treasury management services can help secure your business’s financial future. Here are four ways treasury management can help your business thrive.
Reduce Security Risks and Fight Fraud
Criminals work hard at trying to gain access to accounts and steal sensitive information. Currently, checks and ACH debits are most impacted by fraud. 71% of organizations were victims of fraud in 2021, and 68% of organizations were targeted by Business Email Compromise. Solutions such as Positive Pay and Reverse Positive Pay detect fraud quickly and allow you to confirm daily whether checks are valid for payment or should be returned. ACH Positive Pay gives you control over every ACH transaction before it can post to your account.
Interested in learning more about how to protect your business? Click here to see Stellar Bank’s suite of fraud prevention solutions.
Track and Analyze Cash Flow
Understanding your cash flow trends is essential to maintaining a financially sustainable business and can help you determine the optimum liquidity position for your business. Consider using treasury management services to monitor cash inflow and outflow and generate detailed reports. A robust business banking system helps you track funds efficiently, and adhere to short- and long-term financial commitments.
Simplified systems for funds management and data analysis provide opportunities to anticipate business challenges before they happen. Learn more about Stellar Bank solutions for funds management.
Streamline Accounts Payable
Taking control of your expenses through a secure payables management system helps to streamline an often time-consuming aspect of business management. Solutions like direct deposit, payroll cards and business bill pay offer opportunities to automate payments and save significant time managing payables.
Paying vendors according to invoice terms helps maintain trust, confidence and longevity in business relationships. Utilizing a treasury management system can help you do this. Learn more about payables solutions at Stellar Bank.
Get Paid Faster
Getting paid on time keeps business moving forward. Receivables services can help establish reliability and certainty, reducing the risk of late or missed payments from your debtors through services like ACH Collections. Lockbox Services, Merchant Services and Remote Deposit Capture streamline the process of getting payments into your bank account, ensuring your business has cash on hand when needed.
Utilizing receivables solutions can help your business maximize cash flow and improve customer relationships.
Find the Treasury Management Solution That’s Right for You
Treasury Management solutions save time, enhance financial security and provide valuable insight into the financial well-being of your business. Financial management can be challenging, but the right systems can fuel long-term growth and success.
Protect your business and help your company thrive. Contact a Stellar Banker to learn more.