- Collections and receivables: Simplify accounts receivable and streamline the collections process.
- Disbursement services: Make payments reliably, quickly and efficiently to various payees.
- Financial reporting: Quickly view and manage accounts online.
- Employee management: Services include online payroll and benefits administration.
- Capital management: Leverage surplus funds to meet investment guidelines and business needs.
- Risk management: Help safeguard against fraud, losses and financial risks.
What is Treasury Management?
The term treasury management encompasses a wide range of business products and services, including payables, receivables, financial reporting, payroll and benefits administration, and risk management.
Managing cashflow is an essential part of running a successful business. But your company's finances might involve a constant stream of activities like payroll, accounts receivable, vendor payments, wire transfers and capital planning.
That’s why Treasury Management services are a valuable offering for businesses, particularly micro businesses, whose owners are typically busy and pulled in multiple directions.
Lisa Atkinson, Zions Bank Treasury market manager, explains how Treasury Management services can help your micro business.
Maximize liquidity, optimize cash flow, reduce risk
“Treasury Management covers a broad range of financial activities, but its overall goals are to help your company maximize liquidity, while optimizing cash flow and reducing risks to your business,” explains Atkinson.
Because of the complexities of these activities, many businesses choose to work with a financial institution that offers Treasury Management services to help with a broad range of financial needs, including:
Cash management is important regardless of business size
Many people associate Treasury Management services with large businesses. But even for companies with a small headcount, these services can meet an essential need.
“Cash management is one of the most important needs of any business,” said Atkinson. “Having additional tools at their disposal will help business owners reduce the chance of manual errors, while leveraging the time and money benefits of automation.”
Additionally, during a tight labor market, implementing Treasury Management services can help you improve efficiencies.
“During a recent event, our clients shared testimonials about Zions Bank Treasury Management services, and one common theme was how our services help add efficiencies rather than additional people into their organizations,” said Atkinson. “When it’s difficult to find talented workers, a robust Treasury Management system is a major competitive advantage.”
Identifying your business’ Treasury Management needs
Treasury Management covers a wide range of needs, so if you’re a micro business owner, what products should you prioritize?
“Every small business has different needs and it’s important to take a holistic view of your company structure,” says Atkinson. “For example, some businesses are heavy on receivables, while others might need to improve capital management to meet their investment guidelines.”
Atkinson recommends meeting with a Zions Bank Treasury Management officer to learn more about the powerful tools that can help your business.
Treasury Management financial services can help accelerate growth
Even if you’re just getting started with your business, making the investment in Treasury Management services can make a big difference in the growth trajectory of your company.
“As a business owner, consider your time allocation and how to create efficiencies,” said Atkinson. “If you’re spending countless hours on your company’s finances each week, could you grow more quickly by freeing up time to focus on other tasks?”
The benefit of starting early with Zions Bank Treasury Management services is that as your company expands, you’ll receive concierge-style services and guidance through every stage of growth.“
At Zions Bank, we understand that your needs as a small business owner will change over time,” says Atkinson. “That’s why we assign Treasury Management officers to our clients, who can meet with you regularly to evaluate your needs.”
Learn more about Zions Bank Treasury Management services, or schedule an appointment with a banker near you.