Payables Management

Payables Management

For any business, money going out is just as important as money coming in. In fact, the more control you have over your payables, the more control you will have over your cash flow. The basic premise of payables management is that the longer you can keep your own money the more you can add to your bottom line. There are also tremendous benefits with improved relationships with your creditors and vendors. The most immediate benefit of a more streamlined and automated payables process is the reduction in costs associated with invoice processing, account reconciliation, and check writing.

At _________________ Bank, we understand that cash is critical to a growing business, so we are committed to providing our business customers with the latest in cash management technology and services. Our Payables Management Solutions are based in the most advanced technology to ensure the fast, reliable and secure disbursement of your cash.

Our payables management solutions can help your business

  • Streamline and automate accounts payable functions
  • Improve the overall efficiency of your payables processes
  • Control the timing of disbursements
  • Better manage creditor and vendor relationships
  • Reduce the risk of fraud
  • Reduce staffing costs
  • Optimize cash flow and working capital
  • Gain more control over spending

___________________ Payables Management Solutions

We offer an array of payables solutions to meet your specific payment needs whether you simply want to reduce your costs or are looking to automate the entire payables process.

Automated Clearing House Payments (ACH)

In business, there are few things more costly and inefficient than issuing and mailing checks. As a participant in the vast ACH network of financial institutions, ____________ Bank provides businesses with an electronic alternative to paper checks enabling you to transfer funds quickly and cost-effectively. Electronic payments through ACH can virtually eliminate the hassles, delays, risks, and costs associated with paper-based transactions. With ______________ Bank ACH services your payments are transferred by the most efficient and cost-effective means available.

Electronic funds transfers enable you to better control the timing of payments in order to optimize cash on hand. It also guarantees the delivery of time-sensitive payments such as payroll or taxes, and it can eliminate costly past due charges.

Using our own ACH Internet portal, you simply electronically send your payments (or schedule payments) directly to ___________ Bank. We then process the payments and debit your account for the total amount. The payee's accounts are funded that day.

With our ACH Payments you can

  • Gain more control over your daily cash flow
  • Streamline the disbursement process
  • Keep your cash working up until the last moment
  • Improve cash flow forecasting
  • Reduce the incidence of frau
  • Set up recurring payments
  • Eliminate mail float
  • Streamline reconciliation

Controlled Disbursement Account

Issuing a high volume of checks can place a number of demands on a business, such as tracking check clearance, managing cash flow and funding requirements, and a higher incidence of fraud. A Controlled Disbursement account can mitigate disbursement risk by providing you with early same-day notification of cleared check totals so that you can more accurately gauge your funding requirements. At the same time, it enables you to keep more cash working for you while reducing the need for short term borrowing.

Each day ___________ Bank is notified by Federal Reserve of checks that have been presented for your controlled disbursement account. We then compile the daily total clearing to you by 10 a.m. so you can fund your account electronically or through a wire transfer. Check images are stored for easy access. Reports and copies of check images can be accessed through our Web portal.

With a Controlled Disbursement Account you can

  • Monitor and manage your accounts for tighter control over your cash balances and cash reserves
  • Improve the accuracy of cash flow forecasting
  • Optimize cash on hand for increased interest earnings
  • Reduce incidences of overdrawn balances
  • Reduce the need for short-term borrowing
  • Reduce the incidences of fraud

Business Payroll Services

Nothing can bog down business resources more than meeting a payroll, which is why using a self-directed payroll solution makes sense for most businesses. Whether your business employs four or forty people, your payroll solution needs to be simple-to-use, reliable and cost-effective. The payroll services offered through ________________ Bank handles all of the calculations, including withholdings, payroll taxes and voluntary deductions as well as tax remittance. We also initiate direct deposits to your employees' accounts. Enrollment is self-guided using our Web-based payroll administration portal, but a payroll representative is always available to assist you.

With our Payroll Services your business will be able to

  • Process multiple payrolls each month for one low price
  • Administer your payroll account online
  • Save money on filing payroll taxes and initiating direct deposit
  • Free you from the liabilities involved with depositing and filing payroll taxes
  • Go completely paperless with your payroll administration
  • Offer your employees direct deposit of their paychecks
  • Offer employees a self-service account where they can view their paycheck and W-2 information

Whether you're a small business with low volume payables or a large organization with high volume transactions, our experienced staff will work with you to develop the payables management solution that best fits your business needs. Call _________________ or visit one of our branch locations.