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What banking services can help me manage my business?

by Debi Enders

Banks offer several services to help you reduce cost and manage your business more effectively. For instance:

• Are you using online services? Online banking is a must if you want to access and manage your business accounts at any time. A large percentage of the transactions you conduct with a teller you can conduct online. Alerts can be customized for your account to let you know about specific account activity. You can receive the alerts by email or on your smartphone. You can also add security alerts.

• Have you considered remote deposit? Using special software and a desktop scanner you can scan customer checks and then transmit them to your checking account using a secure Internet connection. It’s a great way to generate cash flow all day rather than making a trip to the bank when you find the time. Another option is mobile deposit, which allows you to deposit checks from any location, using a smartphone or tablet and a mobile banking app.

• Have you ever wished you could collect payments from your customers faster? You can with lockbox payment processing. And don’t forget credit card products that can eliminate the need for petty cash funds or the use of personal credit cards to pay for business expenses.
Having the right bank products and services that fit the needs of your small business can help you operate your business more efficiently, remain competitive and save you money!

Debi Enders (debi.enders@commercebank.com) is assistant vice president, small business banking at Commerce Bank.

Submitted 8 years 244 days ago
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Categories: categoryAsk The Banker
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