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Our Treasury Solutions Help Reduce Operating Costs

May 31, 2024

Companies that want to stay competitive in their industry need ways to reduce spending and improve efficiency. To help local companies achieve these goals, Texas Gulf Bank offers strategic Treasury Management Services* that can help optimize your business’s cash flow.

Discover the difference it makes to partner with a helpful Treasury Management team and the benefits we may bring to your company’s operations.

In addition, explore some of the treasury solutions offered by Texas Gulf Bank and how they may enable your company to cut operating costs, manage finances more effectively, and streamline financial processes.

Why Banking Relationships Matter When Running a Business

One of the most important things a business owner can do to improve operating costs is to create and develop a relationship with their bank’s Treasury Management team. Whether your business requires minimal services or needs a full suite of financial services, having a solid banking relationship in place can play a vital role.

More than just a simple bank service, Treasury Management teams may help your business flourish by providing tools and technology to identify and implement more efficient financial processes, safeguard bank accounts, minimize operational expenses, and obtain expert guidance.

Over time, our team will become a valuable business partner having a support role in improving and strengthening your business and financial functions. When you choose a Treasury Services banking partner, you may experience a wealth of advantages, including:

  • Access to specialized financial expertise
  • Cost-effective solutions tailored to your industry
  • Advanced banking and financial management technology
  • Broader financial networks
  • Increased accountability and financial security
  • Ability to prioritize core business functions and grow working capital
  • Opportunity to divert resources towards things like internal hiring and training

Establishing a banking relationship with a local Treasury Management team can provide many benefits to help your business reduce operating costs.

Interested in a complimentary
consultation with one of our bankers?

Treasury Solutions Geared to Make a Positive Impact

You worked hard to build your business and make it successful. But you may have discovered that operating costs increased as the business grew. You may also realize that financial transactions are becoming more tedious as the business has become more complex.

With our range of treasury solutions, we aim to provide seamless and efficient financial transactions, improved cash management, and cost savings for your business. Our Treasury Management Services are intended to simplify your operational processes and better position your business for long-term growth and success.

Consider key services that may help you reduce costs and support continued growth.

Accounts Payable Services 

Accounts Payable is often a time-consuming area for growing businesses, especially if there are a large number of vendors, projects, and outstanding invoices to manage. Our Accounts Payable Services automate the A/P process, which may enable your business to trim operating costs while improving the payment process.

For example, migrating check payments from manual checks to electronic ACH payments can save time and resources. Think about how much time your business currently spends printing manual checks, waiting for them to be signed by your company’s authorized signatory, mailing checks, and reconciling manual checks with accounting. Plus, you may have to deal with other issues such as lost checks, stop payments, and check fraud.

Transitioning to ACH Direct Credits provides your company transaction security, ease of use, and enhanced reporting abilities, all through a user-friendly online banking platform. Your business gains a seamless and cost-effective method for processing payments and account reconciliation without sacrificing productivity.

In addition to ACH Direct Credits, other tools offered under our Account Payable Services include:

  • Electronic Tax Payments: Pay state or federal taxes in a secure and timely manner to avoid late tax penalties.
  • Bill Pay: Remit recurring or one-time payments electronically for all outstanding operating bills, such as rent or mortgage payments, utilities, or other business services.

Through our Accounts Payable services, your business can reduce inefficiencies, avoid late fees and penalties, take advantage of early payment discounts, and minimize labor costs by outsourcing tedious processes.

Accounts Receivable Services 

For your business to enjoy healthy cash flow, you first need a streamlined and efficient Accounts Receivable (A/R) process. Our Accounts Receivable Services offer tools that may help your business expedite receivables, minimize outstanding payments, and improve accuracy.

Choose from our wide range of A/R tools to support positive cash flow for your business:

  • ACH Direct Debit: Promptly and securely collect electronic payments for monthly services, membership fees, dues, or other recurring collections.
  • Lockbox Services: Have your customers directly mail payments to our secure P.O. Box, where our Treasury services team members capture remittance documentation, prepare and deposit all payments received, and provide daily reports of completed payments.
  • Merchant Processing Services: Accept debit and credit card payments through a partnership with our third-party provider. You may receive payments faster while giving your customers a safe and secure payment method.

By optimizing Accounts Receivable, you may gain the ability to have more accurate reporting on cash inflows, easier customer account reconciliation, and fewer payment delays or errors.

Texas Gulf Bank: Offering Treasury Solutions That Reduce Costs 

With over 110 years of experience providing exceptional financial solutions to businesses across the Southeast Texas Gulf Coast, our bank is the partner you need to support business growth.

Our Treasury Management team offers a comprehensive suite of services that are designed to help your business reduce operating costs, improve efficiency, and mitigate financial risks.

If you’re interested in learning how our treasury solutions can help strengthen your business and potentially reduce operating costs, schedule a call with Texas Gulf Bank today.

The experts in our Treasury Services Department will work with you to assess your needs and tailor our services to align with your business goals.

*Services offered by Treasury Services Department are fee-based and subject to approval.