As a small business owner, there are many issues that hit your radar screen on a daily basis. Some of these issues can be easily solved with systems or technology that is at your fingertips. Every day there are opportunities for your business to become more efficient or perhaps give you more insight into your business. Here are a few services that could be available from your business bank and how they could help your business.
Remote deposit capture – a system that allows a business to scan checks from your place of business and transmit them to the bank via an encrypted and secure channel.
Account alerts – The ability for a business owner or bookkeeper to set up automatic notifications within the account. An example would be an alert when the balance gets below a certain point.
Payroll services – A system that allows a business owner to set up direct deposit and payroll directly out of their business account. This process saves time and money versus issuing paper checks.
View check images and deposit slips – The ability for someone at the business to view any check or deposit that has come to the bank through that account. This can be beneficial for businesses that have a high transaction volume and make any deposits.
Multiple user platform – A system setting that allows a business owner to set different permissions for different users. An example is a setting that allows someone to view certain financials but cannot transact. Another setting could allow a certain user to pay bills electronically with certain limits.
Credit card processing – A system that will process credit card transactions for your business.
Account integration to accounting software – Many small businesses use software products such as Quicken or Quickbooks to assist with accounting. Integration systems allow a business owner to link the information from their business bank account directly into their accounting software. This cuts down on human error from typos and omissions.
Local decision making – The ability for your business banker to make decisions around your account. For instance, if you are looking to purchase a new piece of land that would require a loan, the bank would have to decide on that loan. Local decision making would mean that your banker could gain answers from people within the local market.