Starting a New Company? Consider Treasury Services for Small Business
April 12, 2023
Are you starting a new business? Congratulations! We know that it can be overwhelming to manage all the daily financial tasks, like processing accounts payable and managing cash flow. That’s why we recommend partnering with a reliable bank that offers Treasury Management Services for small businesses.
At Texas Gulf Bank, we specialize in providing top-quality Treasury Management products and services to help you grow your business with ease. Discover how Texas Gulf Bank helps new companies get started on the right foot with our Treasury Services for small businesses. Learn about the benefits of quality Treasury Management and our products and services that support business growth.
What are Treasury Services?
So what are Treasury Services? These are financial tools that automate daily financial transactions, like processing payments and managing cash flow. Before opening for business, new companies need to determine how they want to manage day-to-day financial transactions and cash flow, such as:
- Managing Accounts Receivable
- Processing Accounts Payable
- Risk management
- Cash flow management
Although these might seem like minor tasks when starting out, they can eventually become business-critical processes that could take up a large chunk of time and resources if not handled efficiently.
By utilizing our Treasury Management Services, you’ll save time, reduce errors, and improve your business efficiency. This means that you can focus on what’s really important: building your brand and expanding your customer base.
Consider this sample of services we recommend for your new business.
Merchant Services
Securely and efficiently process credit card payments to reduce costs and increase customer satisfaction. (Note: A third-party provider approves the application and negotiates the rates associated with the services; there is also a set-up fee if approved.)
ACH Origination Services
Automate business payments, especially recurring payments, like payroll or monthly bills, and reduce errors and slow processing associated with manual checks.
Online Banking
Get easy access to account information, monitor cash flow, make financial decisions more quickly, and manage transactions and pay bills conveniently.
Remote Deposit Capture
Remote deposit capture allows you to deposit checks electronically, saving time and reducing the risk of errors associated with manual check processing.
With this service and the other services in place, your new company should be able to dedicate more time and energy towards building your business brand and expanding the customer base.
Why Choose Treasury Management for a Small Business?
Small business owners spend a great deal of time juggling a wide variety of tasks and daily processes, making it harder to focus on business growth and developing a customer base.
Treasury Management Services take some of these everyday financial tasks off your plate while providing several long-term advantages throughout the lifespan of the company. By choosing Treasury Management for your small business, you’ll enjoy many benefits, such as:
- Better financial management
- Improved business efficiency
- Enhanced security
- Access to advanced financial tools
- Streamlined operations
- Risk management
Our experienced team will help you identify and address inefficiencies to save resources and streamline processes, so you can focus on your long-term goals.
As a new company, you can’t always anticipate the financial risks ahead, but you gain an advantage with Treasury Services. Our experienced team and deployable online tools allow your business to help accelerate receivables, control payables, manage information and help protect from fraud.
Choosing Treasury Management Services from the start lets your company focus less on basic administrative tasks and more on important activities and long-term goals.
Treasury Services for Future Business Needs
As your business grows and evolves, financial needs will change. That’s why we offer additional Treasury Management Services to strengthen your financial position and overall business security.
Positive Pay
Positive Pay is a check fraud prevention service that helps protect your company from fraudulent activity or theft. It matches the paper checks issued by your business against those presented for payment and alerts you to any discrepancies.
Lockbox Services
Lockbox services help streamline the Accounts Receivable process by allowing customers to mail payments directly to a designated post office box. The bank then collects and deposits the payments into your business account.
Sweep Accounts
Sweep accounts help you maximize the return on your cash balances by automatically transferring excess funds from your checking account to an interest-bearing account.
Enhanced Reporting
Enhanced Reporting helps your business make more informed financial decisions by predicting future cash flow needs. This can be especially beneficial as your company grows and has more complex billing and payment structures.
Contact Us About Treasury Services for Small Businesses
All businesses deserve access to financial services and products that keep up with growth and support future business success. Our bank offers a full range of Treasury Management Services to help you accomplish these goals.
Texas Gulf Bank has 100 years of experience partnering with businesses to provide strategic financial solutions. We understand the unique needs of companies throughout the Gulf Coast region and offer a full range of Treasury Management Services to help you establish a strong financial foundation for long-term success.
For more information about Treasury Services for small businesses including the pricing for these fee-based services, contact Texas Gulf Bank to schedule a consultation with our Treasury Management Department. Or, complete our contact form to get started. Let’s partner together and help your business succeed!