Maximize your business's cash through our great offerings.
With all the great cash and deposit management services that Flagship Bank offers, you can run your business more effectively and efficiently from your computer and your phone. Take a moment to explore our cash management solutions for your business.
Cash management is critical to your business's success. It can reduce stress, improve earnings, and automate tasks to free your time for improving sales and managing margins.
A commonly overlooked source of capital for any business is its own balance sheet. Through proper cash management planning and/or working capital optimization, any business will see more opportunities to achieve cash balance targets, reduce costs, increase shareholder returns and fund growth.
We all know that we want to bring in cash quickly as possible by billing promptly, following up on overdue balances consistently, and requiring upfront deposits when available. It's when we add another level of complexity that additional insights can help your business.
So what are some best practices to improve your business's treasury management?
It's a regular occurrence to see new customers come to Flagship Bank with account products that don't match the level of activity of their business. This can result in reduced or no interest earnings and/or increased monthly fee costs. Talk with a banker to discuss which account you are in and if there are better accounts for your business. It could save you hundreds or more a year in lost interest and increased fees.
ACH Origination Services are a great way to reduce the cash cycle and improve your cash balances. Each day businesses are becoming more comfortable with and accustomed to electronic debits and credits. Talking with your recurring customers and vendors to set up these services can be a great way to reduce the manual processing times.
If your business is sitting on cash and is also borrowing from a line of credit, it would make sense to work with your banker on a sweep between your line of credit and your business checking account. You'll reduce the interest you pay and over a year, this could mean hundreds or thousands to your bottom line. Likewise, tying a savings account and checking account can also be way to maximize interest earnings by concentrating balances in a savings account earning interest.
Accepting credit cards at your business is another way to speed up funds availability and fund the growth of your business. Our Merchant Services partnership allows eligible customers with a Flagship business checking account to get next day availability on the credit cards they process for payment. Furthermore, working with cash back rewards credit cards are a great way to delay cash payment and earn rewards for your business. Check out our offerings to learn more about each.
A common practice to streamline regular and frequent activities is to set them up automatically. Using automatic notifications will reduce manual monitoring and free up time for higher value activities. We're always on the lookout for new tools and tips, so please feel free to contact our cash management department today to learn how we can save you some time.
Examples include recurring ACH services, automatic loan payments, bill payment, ZBA/sweeps and text or email alerts on your accounts.
If you're a small business owner or growing tech entrepreneur, you may have an accountant, controller or other finance manager that doesn't need the full access to your account. They may even only need view only access to your business account. At Flagship Bank, we've got you covered with account management services that allow you to choose who gets access and to what. Fully customer managed, you choose and manage the access to your accounts.
ACH Origination is an online tool that lets you take greater control over your payables and receivables. You save money by eliminating much of the manual work associated with your payment and collection processes.
Great tools available at your fingertips and unified customer experience across multiple digital platforms (desktop, mobile and tablet).
Positive Pay is a fraud detection tool that can help protect your company against altered checks and counterfeit fraud.
Whether you're just starting out or are already running an established business, we can help you find customized and precise industry specific payment solutions. Enjoy fast and easy electronic payments from one of the top merchant services processors.
A business credit card can help you manage your money, protect your personal assets from risk and gain efficiency. You can maximize your rewards by selecting a card that is tailored to your spending habits.
A sweep account automates the movement of excess funds to your advantage by consolidating into a master account or adding to investment vehicles.
The CD-ROM Service combines online information retrieval and image technology to provide an efficient way to research paid checks, past deposits and previous bank statements.
EDI can speed up your business cycles. Exchange transactions in minutes instead of the days or weeks of wait time from the postal service.
Remote Deposit Capture allows you to submit check deposits right from your office PC saving driving time and eliminating potential risk & liability issues.