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Your treasury and payment solutions playbook

Manage cash flow

Learn how four comprehensive product suites can help streamline your business operations.

1. Automate payables to improve your working capital.

Game plan:

Harness solutions that make your systems more secure and efficient, allowing you to devote more resources to projects that can grow your organization.

  • Check solutions: Manage each step of your check payments, such as processing and reconciliation, timely and accurate cash flow reporting, and storage and retrieval of archived checks.
  • Electronic solutions: Help reduce your operational expenses and labor by going paperless, if possible:
    • Save money with automated clearing house (ACH) transactions and wire transfers.
    • Combine paper checks and electronic payments into a single payment stream.
  • Payroll management: Eliminate paper checks, reduce processing costs, improve cash flow, lower fraud risk, save time, and increase employee satisfaction with direct deposit.
  • Payments fraud protection: Minimize security risks and stop fraudulent attempts before your payment vehicles are compromised.

2. Accelerate receivables to boost your bottom line.

Game plan:

Improve your cash flow through more efficient collections—accelerating receivables reduces the time and expense of paper check handling and ultimately helps your organization operate more efficiently.

  • Electronic receivables: Expedite collections with online payment services.
  • Remote check deposit: Deposit checks electronically to reduce paperwork and bank trips, while benefitting from later posting deadlines.
  • Merchant services: Offer all card payment methods your customers want—whether those are in store, online, or on the go—to help you reduce days sales outstanding.
  • Cash and check processing: Improve the flow of funds with lockbox, deposit, and cash handling services.

3. Improve control, working capital, and security with commercial cards.

Game plan:

A commercial card program affords you more control over your expenses, helps you optimize working capital by extending days payable outstanding, and eliminates the hassles (and fraud risks) of check requests or petty cash.

  • Corporate card: Manage employee spending, monitor vendor expenses, and effectively control cash flow.
  • Purchasing card: Streamline purchasing, reduce costs, and gain total control over procurement and payables.
  • Consolidated card program management: Easily monitor and manage your corporate card, purchasing card, or virtual card programs through a web-based platform.
  • Virtual card: Initiate payments electronically using a secure, temporary card account number—without the cost and hassle of issuing plastic or printing and mailing checks.
    • Set transaction-level controls for each payment or purchase to regulate spending.
    • Optimize working capital by extending days payable outstanding.
    • Establish rich payment controls that—in tandem with the temporary nature of virtual card numbers—can help reduce the risk of payment fraud.

4. Gain confidence with information reporting and online management.

Game plan:

Robust digital tools can boost your organization's financial confidence, optimize your investment and borrowing decisions, and move your organization forward.

  • Online reporting and transaction initiation provide convenient, flexible access to important account information, allowing you to:
    • Set your cash position.
    • Access information from multiple accounts.
    • Initiate time-sensitive transactions in a secure application.
    • Monitor and manage your purchasing card or corporate card program as a strategic part of your finance function.
  • Automated information delivery instantly imports financial data so you can:
    • View data in a spreadsheet or as an encrypted PDF.
    • Import data directly into your treasury workstation or accounting applications.

Global payments revenue is expected to remain around $1.8 trillion in 2024.4

Find the right payment solutions for your business.

Learn how Truist can help your business grow and operate efficiently and effectively.

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