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Cash Management Solutions – Maintaining Cash Flow as a Case for Continuity Planning

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October 01, 2020

Cash Management Solutions – Maintaining Cash Flow as a Case for Continuity Planning

Business owner with mask on at his bakery

Bernadette Macko, Senior Vice President, Director, Corporate Cash Management

During these times of uncertainty, we understand that our business clients are faced with a variety of new challenges. Provident Bank’s cash management solutions offer a unique approach to respond to their needs. Our tools for collecting receivables, methods for payables and digital banking technology allow our business clients to bank whenever, wherever—on their schedule, not ours.

  • Receivables Options- collecting payments is paramount to maintaining cash flow:
    • Mobile Deposit – deposit checks from anywhere
    • Remote Deposit Capture – deposit checks conveniently from your office even if you are working from home.
    • Lockbox Services – consistent collection of A/R if your staff can’t be in the office to collect and process payments
    • ACH Origination – collect funds electronically while increasing speed and efficiency
    • Autobooks – send invoices and offer a variety of payment options digitally.
  • Payables Options – vendors still need to be paid to ensure inventory is available:
    • Business Bill Payment –pay your bills from anywhere, even if you can’t get to your physical check stock
    • ACH Origination – send out payments electronically, securely and swiftly
    • Wire Transfers – it may be the only option a vendor will accept for highly desirable inventory products
  • Security Products –take extra precautions during this unprecedented time:
    • Check Positive Pay – during this period of disruption, the last thing you want to do is have to rebound from fraud
    • ACH Positive Pay – don’t allow anyone to have access to valuable balances without permission

We’re here to provide counsel to you to maintain consistency and flexibility as a plan for business continuity without allowing price, limits or process to prevent us from offering the best solution to solve the immediate pain points.

At Provident Bank, we are able to quickly obtain the agreements and approvals to put solutions in place remotely until we can all be together again. For more information on Provident’s cash management solutions, visit our website at https://www.provident.bank/business-planning/cash-management-services or feel free to contact Cash Management Client Support at 732.590.9288

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