Treasury Management is a key aspect in helping businesses increase efficiency, drive profitability, and automate business processes. Treasury management solutions allow businesses of all sizes the ability to manage day to day cash flow needs with ease and perform online transactions efficiently in real-time.
Consider the features and benefits of Treasury Management and how they can impact your processes. That’s something that all business owners can get behind!
Overview of Treasury Management
At its core, Treasury Management offers solutions designed to help you manage all aspects of your business finances. It aligns with the most significant components of your business operations, including:
- Accounts Receivable and how you get paid
- Managing payables with better control of your day-to-day payments
- Protecting your accounts from unauthorized transactions
- Money movement to allow flexibility and maximize interest income
- Information reporting for greater visibility into account activities
- And everything in between
A robust treasury management solution includes comprehensive online banking tools that allow you to remotely manage your finances and specifically,
- Creates efficiency with real-time posting
- Saves time when it comes to how you can manage your business and its finances
- Provides the tools necessary to make informed decisions by having an integrated point of access to manage multiple business accounts
Treasury Management solutions help to automate essential and time-consuming processes. The right tools in a secure, single platform for your business's financial information with automation that can eliminate human error.
Why Treasury Management is Important
In addition to freeing up your time to focus on what you do best - running your business - Treasury Management is vital to your business’s success:
- The service can help your business best utilize financial resources while, at the same time, supervising financial risks and allow you to:
- Ensure you have the cash you need to meet your financial obligations
- Take advantage of investments that will lead to business growth
“Partnering with a Treasury Management expert allows you to evaluate how solutions can enhance your organization’s banking experience. With our Treasury Management systems, you can streamline billing, speed up payment receipt, and increase revenue,” said Tammy Varelis, Vice President, Treasury Management Sales Officer. “With our powerful Treasury Management tools, you can strengthen your organization’s anti-fraud strategy, and increase control and efficiency in your daily payment practices.”
The efficiencies you gain can give your business an edge, because the more productive and efficient your business is, the more time and money you save. Those resources can then be channeled back into other areas of your organization.
It's Not a One-Size-Fits-All Approach
Consult with your financial institution about the treasury management options they offer and learn how they can be tailored for your unique business. At Lakeland Bank, we offer eTreasury Commercial for businesses with complex needs. Comprehensive online banking solutions include:
- Paying Bills with Bill Pay
- Exporting transaction data in various formats including Quicken™ or QuickBooks™
- Authorizing individuals for different access levels
- ACH Origination
- Online wire transfers including FX
- Positive Pay with payee validation
- ACH Positive Pay
- Remote Deposit Capture
- Account Reconciliation
- Custom Reporting
Our eTreasury Business solution allows businesses access to remotely manage finances, securely check account balances, review transactions, view check images, transfer funds, pay bills, and initiate stop payments – all on their own schedule.
Ready to Get Started
If you’re ready to enjoy the speed, security and convenience of managing your business anytime, anywhere, schedule a consultative discovery session with a member of our Treasury Management Team today.
Looking for more helpful tips to run a more efficient business? Check out our other blogs, How to Make Your Business Thrive in a Digital Age and Digital Management Tools and Software Programs to Help Your Business Succeed.