Published on August 19, 2022
Building Cash Management Efficiencies
“Remember that time is money.” Benjamin Franklin originally published this thought back in 1748. Now, nearly 275 years later, these words still ring loud and true.
As a business owner facing a daunting to-do list each and every day, you know that efficiency is key. Finding a way to set some of your responsibilities on autopilot helps clear the path for tackling other tasks. Let’s make 2023 your best year yet by exploring some efficiencies for your money management – strategies that save you time and money.
You’re running a unique business that is different than any other. Community Choice has cash management solutions that can cater to your business operations. We offer multiple deposit and cash management solutions to maximize your liquidity, including sweep services.
It’s important to ensure your money is working for you. With our sweep solution, if your checking account reaches an established target collected balance, the excess funds are automatically directed toward an interest-bearing solution or additional loan payment – you choose!
Investment sweeps help maximize the value of unused funds with automated sweep services. We’ll put your idle cash to work for you, sweeping it directly to your investment account so it can earn interest immediately.
Loan sweeps help reduce interest expense and pay down debt sooner when excess funds in the sweep account are used to pay down outstanding loan balances.
With these efficiencies in place, your cash will be working for you, allowing you to devote your time to other aspects of your business. After all, time is money. The next time you catch a glimpse of Benjamin Franklin on a $100 bill, give a nod of appreciation.
Learn more by contacting our Community Choice Treasury Management Services Consultant today.
Treasury Consultant | Certified Treasury Professional (CTP)