Financials and Cash Flow

Do you have the right treasury management solutions in place?

Even smaller businesses can benefit from treasury management solutions that fit their business needs.

Many small businesses go without employing treasury management solutions.

“For some, exploring solutions labeled as ‘treasury management’ can feel intimidating or overly sophisticated,” explains Brian Jennaro, vice president of business deposits at Wells Fargo. “In reality, however, even smaller businesses need convenient options for managing their business payables and receivables.”

Here’s how to begin approaching your treasury management options.

Optimizing deposits to improve your business cash flow

When it comes to day-to-day cash flow management, accounting software isn’t the only resource to consider.

For instance, if your business receives checks from customers, vendors, and suppliers, how much time do you spend taking trips to the bank to make those deposits?

Consider switching to electronic deposits wherever possible to potentially improve cash flow management, keep your deposits safer and save yourself time, says John Julow, manager of small business deposits at Wells Fargo. “You also know more quickly whether any deposited items are not good. Faster notification of returned items can help your business improve information collecting and cash flow predictability.”

Top treasury management solutions

The more time a business leader spends on administrative tasks like bills, payroll, and receivables, the less time they have to invest in strategic activities like sales growth and marketing improvements.

Specifically, treasury management can help smaller businesses:

  • Accept deposits and credit card payments,

  • Make payroll, vendor, and tax payments,

  • Paint a correct, current, and comprehensive portrait of their financial health,

  • Send domestic, international, and foreign exchange (FX) wires, and

  • Monitor accounts and use fraud protection services.

Wells Fargo’s Commercial Electronic Office CEO® (CEO®) Portal

Wells Fargo offers a commercial online banking platform through which businesses can access these and other treasury management services. Wells Fargo CEO® Portal is fully customizable, allowing businesses to select the online services that best suit their needs.

In addition to basic online banking functions, the CEO Portal’s options include custom account reporting and analysis, streamlined payables and receivables processing, and credit management, among many others.

Businesses can also control access to their accounts, set user transaction limits, assign administrators, and manage how transactions are authorized.

Choosing the right solutions

The treasury management solutions your business needs depend on a variety of factors, including transition types, transaction amounts, volumes, budget, location, and priorities.

A key source for navigating the decision, Jennaro says, is your banker.

“Talk with a relationship manager and discuss your business details and needs,” he advises. “They can help assess your needs and provide you with a variety of options so you can select the ones that are best for your business.”

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