- Managing or extending payables
- Developing a proper account structure
- Protecting against fraud
- Investing excess cash, and
- Developing the personalized metrics and reports that help you run your business effectively and efficiently.
The treasury management resources at Lake Ridge Bank are like having a dedicated business advisor at your disposal and that is why we will be releasing monthly newsletters that will help give you a better understanding of what it consists of.
I recently read an interesting
article published by the Association for Financial Professionals. Based on a survey of corporate treasury and finance professionals, the article states “Bank relationships continue to grow in level of strategic importance for organizations.” In addition, “Bank deposits continue to hold the majority of corporate cash and short-term investments, and banks also play a role as sponsor of both onshore and offshore money market funds held by organizations.”
As a community bank, the important take away from this article is the fact that we hold the majority of the cash that businesses have. Businesses rely on the expertise of the bank to provide them with guidance to make sure their cash flow is run as efficiently as possible.
Here at Lake Ridge Bank, we spend the time with each client to make sure you not only understand what we have to offer but that you understand how it impacts your business. For instance, some businesses have a directive from the Board of Directors or need to fulfill corporate resolutions. We can develop strategies to meet the needs of various deposits and investments.
Some banks are reactive when it comes to treasury management. We at Lake Ridge Bank make a point to get in front of our clients to make sure you are getting everything you need from the bank, perhaps even explain services you didn’t know were available to you. We want to share our knowledge and experience with our business partners to help you grow and succeed.
I have met with many clients already since we expanded our Treasury Management services last April, but I have a huge list of great clients that I am still working on setting up meetings with. If you have any needs that arise before I am able to schedule a meeting with you, please feel free to reach out, and I will be happy to help.
For more information about Treasury Management for your business, visit us online or call (855) 256-7328.
Member FDIC