Retire paper and turn cash flow digital

Manage cash flow

Cheaper, safer, and faster electronic transactions

Whenever you physically handle a check, there’s an opportunity for fraud. A study by the Association of Financial Professionals showed that 81% of companies experienced fraud and almost three-quarters of that fraud involved paper check payments.1 Automating your business’s collections and payments can help reduce the risk of fraud with cheaper, safer, and faster ways to move funds.


Electronic payments currently dominate business and consumer billing. More than 84% of non-cash payments are made using cards and electronic payments.2 Electronic tools for securing collections and digitizing payments such as remote check scanning, merchant services, and electronic billing can help ensure your business makes safe transactions.

Secure electronic collections.

Advances in collections technology can help shrink your collection cycles by days and eliminate hours of financial processing all while reducing the risk of fraud.

Accept credit card payments – Set up a merchant credit card processing account to receive payments immediately at the point of service, online, or over the phone. Businesses are starting to make larger and more valuable purchases with credit cards to earn points and consolidate expense tracking. It’s a cheaper, safer, and faster way to collect.

Bill and collect electronically – Limit physical handling of invoices and payments with electronic receivables. You’ll create a more secure payment process for you and your customers, and:

  • Online billing and payment services allow you to generate and e-mail invoices.
  • Preauthorized ACH debits let you accept automatic payments from regular customers and speed collections. Customers simply fill out a form, provide a few account details, and authorize payments.

Deposit electronically – Are you still making trips to the bank to deposit checks? Control deposits safely and securely by scanning checks at the office and depositing them electronically. Scanners deposit checks right from your desktop or at the point of sale. Electronic deposits help you eliminate trips to the bank, make deposits on your schedule outside of banking hours, access your cash sooner, and create a scanned record of your deposited checks.

Make payments electronically.

It’s just as important to control the money going out as it is to speed up the money coming in. Electronic payments can reduce processing costs and provide precisely timed payments, allowing your business to hold on to money longer and keep working capital levels low.

Digital payments – Paying employees and suppliers electronically or by card is more convenient for everyone involved. You’ll have better ways to track and monitor expenses, plus controls and audit trails that protect your company against fraud.

Start with card programs. Commercial card programs like purchasing cards and corporate cards are designed for better expense management and precisely timed payments, providing:

  • Better monitoring and analysis of employee spending.
  • Streamlined methods of paying for business expenses.
  • Advanced reporting through the card management program.

ACH payments – Automated Clearing House (ACH) payments provide:

  • Reduced transaction time and costs.
  • Scheduled routine and repetitive payments.
  • Fast and secure processing.

There are several ways to send ACH payments. Online Bill Pay uses ACH to send payments to businesses that accept ACH. Larger companies use Integrated Payables to send files with all types of payments including ACH payments, checks to be printed, and wire transfers. Truist can help you handle all of these payments.

Payroll direct deposit – Payroll processing solutions simplify logistics and increase security while making transitioning to employee direct deposit easy. Direct deposit:

  • Reduces the number of checks to reconcile.
  • Protects the integrity of payroll data,
  • Ensures timely payment to employees.
  • Provides accurate data for tax and insurance purposes.

Are you ready to abandon paper and move to electronic payments?

Simplifying financial processing and speeding cash movement has never been easier. Ask your Truist relationship manager to provide you with the tools and products to go electronic.