California Business - Spring 2014 - San Diego - 11

business
insider

Treasury managemenT
How your bank can help you reduce fraud, increase cash flow and free up your resources

unning a business can often seem overwhelming, but relieving some of the burden is as easy
as calling your bank.
by employing treasury management services, you can not only eliminate much of the time and
work spent tracking your business's finances, you can
also improve your cash flow and reduce the risk of fraud.
"Treasury management helps companies manage
cash flow in the most efficient way possible by providing up-to-date financial information," explains Lynnell
Harris, senior vice president and treasury management
sales manager at California bank & Trust. "A company
typically establishes policies and procedures for monitoring this information and managing this process. Treasury
management products and services provide valuable
tools to help businesses use their cash most efficiently."
These products and services can help in a number of
different ways. These include:
* Automating and streamlining collection and payables
processing
* Providing critical information on a 24/7 basis
* Mitigating and managing financial risk
Most of this functionality can be managed online so a
company will have access from their office or even from
remote locations. This automation offers significant benefits for streamlining operations so business leaders can
spend more time focusing on growing their businesses.
While mid-market and larger companies have been
taking advantage of these solutions for many years, smaller businesses can now take advantage of these treasury
management tools. According to Harris, "some small
business customers are not even aware that they can save
time and money through an array of tools for making
deposits remotely, transferring funds electronically, and
reducing the risk of fraud."
in some cases, treasury management solutions
can help businesses expand their client base through
features that allow them to accept credit card payments
in addition to cash and checks. in addition, payables
processes can be automated by using credit cards to pay
vendors and suppliers.
When evaluating the benefits of treasury management
solutions, consider the savings from internal labor costs
that can be reduced or completely redeployed. Other
benefits include quicker access to funds and the ability
to mitigate potential fraud risks. Through savings in time

and money, an investment in treasury management can
generate large returns.
Treasury management tools that reduce the risk of
fraud include Positive Pay and ACH Positive Pay. With
Positive Pay, customers can submit issue files to the bank
and then review any paid items that do not match the
file. exception items can then be returned in a timely
manner. ACH Positive Pay gives customers tools to filter
transactions and deny any unauthorized payments.
"The way we view it, the relationship between the
financial officer at a company and the treasury management officer at a bank is essential," Harris says. "businesses look to their bank for advice on financial technology, the latest trends in treasury management, and best
practices for improving automation, efficiency, and risk
management."
"Treasury management solutions have become more
important than ever for today's businesses," Harris adds.
"Your banker can explain the treasury management tools
that are available and introduce you to your treasury
management officer who can help design a solution that
effectively manages your cash, offers access to financial
information, and mitigates financial risks." *
Lynnell Harris is senior vice president and
treasury management sales manager at
California Bank & Trust. reach her at (619) 446-2214
or Lynnell.Harris@calbt.com.

California Business * 11

California Business - Spring 2014 - San Diego

Table of Contents for the Digital Edition of California Business - Spring 2014 - San Diego