Our Spotlight on Solutions series highlights three 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 digital transformation, a journey nearly all businesses are on these days. A significant step along that path is digitizing your company’s financial processes. It’s a move that can increase efficiency and productivity, save money, and even help detect fraud before it hurts your bottom line.
See how three Truist relationship managers helped their clients digitize financial processes—and the positive outcome for each.
Fighting fraud with modernization
Challenge: One client was facing increased instances of fraud that could be traced back to not modernizing their processes. Writing checks without fraud control tools had led to fraudsters scrubbing and modifying the company’s checks. The client was also spending extra time and money having an employee drive checks to the bank branch.
Insights: Modernizing processes helped the company save time and money and increase productivity.
Solution: Truist helped the company implement automated payment systems.
Ditching paper processes to gain efficiency and security
Challenge: This client was looking for a solution to manage a high volume of incoming and outgoing checks—more than 2,500 a month. The company was interested in digitizing as much of their banking as possible while making sure they had fraud controls in place.
Insights: Automation and fraud controls helped boost efficiency and security.
Solution: Truist set the client up with digital treasury solutions on the Truist One View platform.
Improving performance through automation
Challenge: The client was looking to improve operational efficiencies by consolidating accounts, digitizing both receivables and payables, and implementing as much automation as possible.
Insights: Improving the company’s overall health and performance had the added bonus of increasing employee pride and ownership as they realized how their efforts made a difference. Truist worked closely with the client’s finance team to support training, manage expectations, and realize the benefits.
Solution: Truist implemented an integrated payables and receivables program.
Digitize your financial processes.
