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Spotlight on Solutions Controlling costs to boost productivity: Real-life scenarios

How Truist relationship managers helped their clients reduce costs and maximize productivity

Our Spotlight on Solutions series highlights ways Truist relationship managers helped different businesses tackle a common challenge. It’s a great illustration of how our Truist Business Lifecycle Advisory approach centers on understanding your business inside and out—so we can offer the advice and solutions that best fit your specific needs.

Here, we focus on reducing and controlling costs to boost your company’s productivity. Most companies will need to implement cost-saving measures at some point in their business lifecycle. What works best for you can depend on many factors, including your company’s goals and your industry.

See how Truist relationship managers helped their clients to identify the right strategies for controlling costs and boosting their productivity.

Improving cash flow to battle high costs

Challenge: A client was facing an increasing cost of goods sold due to inflation and wanted to understand ways they could reduce or better manage these increased expenses.

Insights: Truist evaluated the company’s accounts receivable and accounts payable to gain a clearer understanding of their financial situation.

  • Truist wanted to gauge the speed at which the client was paying their vendors.
  • If the client was paying too quickly, they risked missing opportunities to leverage that cash in a money market or other investment vehicle.

Solution: Truist guided the client through a comprehensive cash flow review with a Truist treasury consultant.

  • Truist discovered the company was paying its vendors faster than the industry norm, revealing an opportunity for improvement.
  • Truist engaged their investment team to assist in identifying strategies that helped the business stretch its payment cycle, resulting in increased earnings.

Reducing expenses with flexible payment solutions

Challenge: A technology company was facing challenges with working capital and high interest expenses due to extensive use of its line of credit. The company was relying on the credit line for vendor payments, which, coupled with unfavorable payment terms from their vendors, was draining the company’s liquidity.

Insights: Truist assessed the company’s existing line of credit to determine if they could provide additional payment options.

  • The Truist wholesale payments team performed a vendor match and found that many of the technology company’s vendors accepted the Truist card.

Solution: The Truist wholesale payments team set the company up with a commercial card program.

  • Truist reduced the company’s reliance on the line of credit, bringing down interest expenses.
  • Truist helped the business restore the line of credit for its intended purpose, freeing it up for more strategic purposes.

> See how Truist Business Lifecycle Advisory can benefit growing businesses.

Start controlling costs and boost your productivity

Talk to your Truist relationship manager about ways to improve cash flow and help reduce expenses.

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