Cash Management Resource Guide for Business

Fintech is changing cash management for business

Whether you are new to business cash management or have decades of experience, there’s always more to learn in this age of rapid technological advancement. Financial Technology [fintech] is rapidly changing the way businesses manage their cash. By familiarizing yourself with the advanced fintech resources detailed in this article, your business will be equipped with a cache of new tools and services that are designed to drive more profits and reduce your workload.

Reserve Cash Management with Marketplace Banking™: The MOST Protection and the MOST Return for Business Cash

Almost all businesses need some liquid cash in reserve to manage their day-to-day and emergency expenses. But in many cases, those reserved funds are sitting idly in a bank account that can neither offer full FDIC protection in excess of the $250k limit nor a competitive return. These businesses are leaving profits on the table.

With the advent of fintech, the days of excessive risk and lost returns for cash managers are over. Our company, The American Deposit Management Co. [ADM], has leveraged our proprietary fintech to achieve the MOST protection and the MOST return for your reserve cash. We have achieved this by developing a proprietary network of hundreds of local banks that compete for your deposits.

Our distributed network of community banks, combined with our revolutionary fintech, can provide your business with virtually unlimited FDIC protection. We make this a reality without the excessive labor involved in managing multiple banking relationships, statements and reconciliations. In fact, all it takes to get started is a short, 10-minute application. Then within a few hours, your company can make its first deposit into a new Marketplace Banking™ account at ADM.

Once you’ve made the deposit, your work is virtually over. Our team distributes your cash to our network of banks to ensure 100% FDIC protection, next-day liquidity and the most competitive return available. You can monitor your funds using our convenient online portal and perform your reconciliations with a single, consolidated monthly statement. ADM can even extend this technology to optimize bonds proceeds and referendum funds for government organizations. The best part about all of this is, you keep your current bank. We are here to enhance your current bank, not replace it.

Business Escrow Accounts Enhanced by Fintech

If your organization is planning a large order or a major transaction, you may be in need of a business escrow account. There are many business escrow agents in the market today, but be careful. All escrow agents are not all created equal.

The overriding goal of an escrow account is to ensure that funds for a particular transaction are 100% safe and in the hands of a 3rd party, until the transaction is complete. This seems simple enough, but there are some things you should know.

First, the most robust protection available for your escrow cash is FDIC insurance, and that is because it carries the full faith and credit of the U.S. Government. So, you should seek an escrow agent, like ADM, that can ensure your funds are fully protected by FDIC insurance. Many escrow agents do not have this capability. However, a business escrow account at ADM provides all the safety and return of our Marketplace Banking™ accounts. This means that with ADM, you get the MOST protection and the MOST return on your escrow cash.

Fintech Streamlines Vendor Payments

One of the biggest risks to your business cash is Accounts Payable [A/P] fraud. In fact, in recent years, payment fraud has reached record levels at corporations. A/P fraud can come in many forms, such as internal employee fraud, phishing scams or even simple impersonation of one of your vendors.

To help ensure that your company doesn’t fall victim to A/P fraud, one important service you can implement is centralized vendor payments. With the ADM Vendor Payments service, your payments are verified and processed by our team to ensure accuracy and timeliness. By simply moving to a 3rd party processor, you can greatly reduce the opportunity for internal fraud in your A/P processes. But that is just the beginning of the benefits that fintech can provide to your business.

Centralizing your vendor payment with ADM comes with a host of other benefits. First, we save you time. Even the most complex project payment contracts will feel effortless. Next, we provide increased financial control. Then, we’ll ensure payments are administered effectively and accountability is well-documented with CSI MasterFormat™. This transparent reporting simplifies monitoring and accounting for your business. And finally, by combining vendor payment with a Marketplace Banking™ account, you can rest assured knowing your A/P funds have the MOST protection and earn the MOST competitive return available.

Merchant Services: Fintech Adds Value

There is no shortage of Merchant Services providers available in the marketplace today. Almost every bank or professional organization has a package available, and each has very different costs and benefits.

At ADM, we believe that your cash should be safe and earning a competitive return from the moment those funds are received. That’s why we’ve leveraged our Marketplace Banking™ account to provide the MOST safety and the MOST return for your credit card receipts. By implementing merchant services with ADM, you’ll receive competitive processing rates, and payments to your company will be deposited directly into your Marketplace Banking™ account. Then you can rest assured your funds are as safe as possible and growing and the most competitive rate available.

Earn more, risk less® with ADM.

The first step to optimized cash management is moving your reserve funds to a Marketplace Banking™ account. Then by adding Merchant Services and Vendor Payments, your cash will be flowing through your Marketplace Banking™ account in the most efficient way possible. This optimizes the safety and return on your cash all the way through the process. Your funds have next day liquidity as they grow safely, while monitoring and managing your business cash becomes virtually effortless. That’s what we call Smarter Cash™.

If you need the MOST protection and return for your business deposits, don’t hesitate to contact a member of our team. Our team is our secret sauce, and we’ll get your business on the road to efficient cash management with the MOST protection and the MOST competitive return available.

If you’re looking for more valuable insights on banking, interest rates, and effectively managing your business cash, be sure to check out our Insights page and follow us on LinkedIn, Twitter and Facebook.