Improving cash flow is the goal of any business owner. With the accounts receivable services at Banterra, we can make it easier for you to receive payments for your business. What does this mean for you? Banterra’s team is ready to add efficiency so you can receive your payments faster. To get started, stop by your local branch or contact us today to speak to a Banterra Treasury Management Representative.
By eliminating your paper payment processes, you get access to your payments faster. Banterra’s Automated Clearing House (ACH) receivables services allow you to collect your payments electronically. This means you’ll receive money from your customers faster, and improve your cash flow.
How do ACH Receivables Services Work
Electronic Payments: ACH allows businesses to collect payments electronically. Instead of relying on paper checks, you can receive funds directly into your business account.
Faster Access to Funds: By eliminating paper payment processes, ACH ensures that you gain quicker access to your payments. When customers pay electronically, the funds are deposited promptly, improving your cash flow.
Administrative Efficiency: ACH services save you administrative costs associated with handling physical checks. There’s no need to manually process or deposit checks; everything happens seamlessly through electronic channels.
Enhanced Security: ACH transactions offer enhanced security compared to paper checks. The risk of lost or stolen checks is minimized, and the entire process is more secure.
Reduced Fraud Risk: ACH payments reduce the risk of fraud. Unlike paper checks, which can be altered or forged, electronic transactions are more resistant to unauthorized manipulation.
How ACH Services Benefit Your Small Business
Improved Cash Flow: With ACH, you receive payments faster, allowing you to maintain a healthier cash flow. Timely access to funds ensures you can cover expenses, invest, and grow your business efficiently.
Cost Savings: ACH eliminates the need for physical check handling, postage, and manual processing. This translates to cost savings for your business.
Convenience: ACH services are convenient for both you and your customers. Customers appreciate the ease of electronic payments, and you benefit from streamlined processes.
Centralized Management: All your ACH services can be managed within your Banterra Cash Management profile. This centralized approach simplifies tracking and reconciliation.
If your business operates from more than one location, Cash Concentration is an ACH-based service that allows you to collect funds from all locations electronically. All your funds are collected to one primary operating account automatically. This saves time and money for your business, as you no longer have to initiate wire transfers to make sure all your locations’ collections are handled properly.
How do Cash Concentration Services Work?
Pooling Funds: As your business collects funds from different locations, these funds are pooled into one or more concentration accounts. These accounts act as header accounts, preparing the collected cash for future use.
Efficient Cash Movement: By centralizing funds, your organization gains the ability to move cash seamlessly from one account to another. Whether you need to disburse funds or cover working capital requirements, the process becomes more efficient.
Visibility and Control: Cash concentration not only facilitates daily liquidity management but also provides visibility into your organization’s overall cash position. It allows you to balance excess and deficit cash positions across multiple locations, entities, and currencies.
Benefits of Cash Concentration Services
