Cash Management for Your Business
Money management is critical for any business. One of the people who helps make that happen is Wendy Hales, Senior Vice President of the Cash Management Division at First Bank.
We chatted with Wendy to learn more about how cash management works, why it’s so important, and the best ways for businesses to work with their bank.
What does cash management mean and why is it so important?
The term can be confusing. For example, one service we offer, credit card processing, known as merchant services, actually falls under cash management.
A better title for what I do is “business specialist.” We help our business clients operate efficiently and with all of the ways money moves through a business, from collecting payments, rent, or HOA dues to payroll processing or making payments to other businesses.
Better cash management enables our clients to make remote deposits from their offices, map the movement of their money into their own systems, and remain protected from fraud.
What cash management tips would you give a new business?
Work with your banker from the very beginning. If your banker understands who you are and what you’re trying to accomplish, they can provide helpful solutions to get you started on the right track.
What is special to you about First Bank?
I always try to ask our clients how we can make their jobs easier. We are very customer oriented and don’t offer cookie-cutter products, customizing solutions for each client’s challenges and approaching every client with a can-do attitude.
We do quarterly or semi-annual reviews for some clients—and we look for ways to save them money even when they don’t ask us to.
I’ve been at First Bank for 15 years, and I’ve never been more excited or proud to be a part of the team. We have tremendous energy and a leadership team that is taking us in a great direction.
Want to talk to a member of Wendy’s team about your cash management needs? Contact a banker at First Bank and we’ll set up a consultation. We look forward to providing you with the excellent, flexible service that makes Wendy proud to work at First Bank.