Cash flow management is a critical element of running a business and can determine whether your business will flourish, struggle or suffer. To flourish, it's important to focus on and work to improve your cash position. It’s helpful to be nimble, so you can react quickly to a variety of circumstances. You want to hold on to your money as long as you can, but also receive payments and money owed to you quickly. Cash management is how you control the money coming in and going out, so you can meet your business cash needs day today.

If receivables aren’t managed well, it could lead to a major cash flow problem. For example, as a business owner, you have to pay a large number of monthly bills (lease, utilities, payroll, suppliers), which can cause a dip in your reserve funds. If you don’t have an efficient means of receiving money quickly, you may have to endure a prolonged period of low funds until you can replenish your account. This could leave you exposed and unable to cover unexpected emergencies or unplanned costs. To maintain a strong cash position, your business must be able to convert receivables into cash as quickly as possible.

In addition, fraud-fighting tools are needed to help you avoid losing access to funds unexpectedly. Imagine payroll is coming up and someone just moved a significant amount of money out of your account with a stolen check. Now you’re taking out a loan to make payroll, or you’re late making payroll or you have to put growth or expansion plans on hold while you try to recover the money.

Managing finances effectively is crucial for business growth and success. Here are a few tools and resources to help you put convenient cash flow management procedures in place, speed up payments and reduce fraud risks.

Cash flow tools can make routine tasks more convenient

Add speed and convenience in your efforts to deposit checks. With a desktop scanner, you can quickly and easily deposit checks right from your desk, saving yourself a daily trip to the bank.

Use your phone or computer to make deposits more securely and efficiently through Remote Deposit Capture (RDC). We provide a combination of services that both gives your company flexibility and helps extend the daily deposit deadline for faster funds availability. RDC offers the convenience of depositing checks anytime, anywhere, with the added bonus of not having to make up a check deposit sheet.

Work faster and free up more time for other tasks

If you’d like to save precious time and take tedious tasks off your plate, make the switch from prepping and mailing paper checks to using Automated Clearing House (ACH) payments.

These are quick, low-cost transactions that help improve operational efficiency and include a same-day payment option or a standard option that usually posts within two business days. You can schedule any type of payment, such as bills, vendor payments and employee payments. It’s easy to pay faster with ACH transactions.

Rapid domestic and international wire capability can make it easier to conduct business anywhere around the world and allow you to control when funds are received.

What is a wire transfer? A wire transfer is an electronic way to send money fast. It can be received within a couple of business days, and because it is reviewed and approved through a financial institution, it can be a safer alternative to cash or checks. It’s a great way to send money anywhere with ease. Plus, you can manage and send wires at your convenience through Treasury Internet Banking.

Make your cash flow safer and help protect your business from fraud

Checks are one of the most vulnerable things criminals use to defraud businesses. Don’t let thieves and fraudsters steal what you’ve worked so hard to earn.

Take control of your business payments through Positive Pay Solutions that help you manage payment risk from fraudulent checks and electronic ACH items. Positive Pay provides a layer of protection that matches up issued and received checks, so you can better defend against fraud.

By implementing these effective Treasury Management tools, you can improve your financial stability and put cash flow management procedures in place to help your small business flourish in a highly competitive business landscape.

Get more information

If you want to learn more about how Amegy Bank Treasury Management can help your business, fill out the form below to get in touch with a knowledgeable banker.