Skip to Main Content
Needham Bank Logo
Locations
  • Personal Banking
  • Business Banking
  • Personal Credit Card
  • Business Credit Card
Customer Care Center: 781-444-2100
  • Contact Us
  • About
  • Community
  • Careers
  • Enroll in Online Banking
  • Personal Banking
  • Business Banking
  • Personal Credit Card
  • Business Credit Card
Enroll in Online Banking
Needham Bank Logo
Small Needham Bank Logo
  • Overview

    Checking

    • NB Debit Mastercard®
    • NB Money Management
    • Zelle® - Send and Receive Money

    Savings

    • Interest Rates
    • NB Statement Savings
    • NB Money Market
    • Personal CDs and IRAs

    Online & Mobile Banking

    Wealth Management

    Consumer Loans

    • Home Equity Line of Credit (HELOC)
    • Overdraft Protection Line of Credit
    • Personal Loans
    • Auto Loans

    Credit Cards

    • NB Rewards Mastercard®
    • NB Credit Advantage Mastercard®

    Residential Loans

    • First-Time Home Buyer Program
    • Fixed-Rate Mortgages
    • Adjustable Rate Mortgages
    • 40-Year Mortgage*
    • Community Loan Program
    • Construction-to-Permanent Mortgages
    • Home Equity Line of Credit (HELOC)
    • Jumbo Mortgages
    • Portfolio Loans
    • NB WealthBuilder Mortgage
    • Residential Loan Rates
    • Mortgage Calculators
    • Meet the Residential Lending Team

    Learn

    • Calculators & Tools
    • Knowledge Center
    • Fraud Prevention Tips

    Quickly open a Checking, Savings, CD or Money Market online in just 5 minutes. Open an Account Now

  • Overview

    Checking

    • NB Business Checking
    • NB Corporate Checking

    Savings

    • NB Business Money Market
    • NB Business CDs
    • Simplified Employee Pension (SEP) IRAs

    Credit Card

    • NB Business Rewards Mastercard®

    Online & Mobile Banking

    Cash Management

    Features include:

    • Cash Flow Management
    • Collections/Receivables
    • Disbursements/Payables
    • Fraud Prevention
    • Direct Connect for Quicken and Quickbooks

    Municipal Banking

    Wealth Management

    ZDeposit

    ZRent

    Commercial Banking

    • Commercial Real Estate Loans
    • Small Business
    • Middle Market
    • Structured Finance
    • Cannabis Banking
    • Meet our Commercial Team Leaders

    Learn

    • Business Resource Center
    • Business Banking Client Profiles
    • Knowledge Center
    • Fraud Prevention Tips

    Loans & Lines of Credit

    • Business Loans
    • Business Overdraft Protection
    • Construction Loans
    • Small Business Administration (SBA) Loans
    • Small Business Term Loan
    • Commercial Real Estate Loans
    • Paycheck Protection Program Loan Forgiveness

    Partner with Needham Bank experts who are invested in your success.

  • Knowledge Center
  • Client Resources

    • Client Resources
    • Avoid Overdraft Fees
    • Banking Holidays
    • Frequently Asked Questions
    • News
    • Reorder Checks
    • Schedule of Charges

    Account Support and Safety

    • Protect Your Accounts
    • Fraud Recovery Checklist
    • Protect Yourself from Popular Fraud Scams
    • Mailbox Fishing Scams
    • Fraud Prevention Articles

    Contact Us

    • Employee Directory
    • Find a Branch
    • General Inquiries
    • Loan Services
    • Online Banking Help
    • Send a Message

    Frequently Asked Questions

    • I lost my NB Debit Card but the bank is closed. Is there a number I can call?
    • What is Needham Bank's routing number?
    • How do I enroll in Online Banking?
    • How do I avoid overdraft fees?
  • Contact Us
  • About
  • Community
  • Careers
  • Enroll in Online Banking
Customer Care Center: 781-444-2100

Answers to Your Top 4 Questions About Cash Management for Your Business: Everything You Need to Know

Posted on 11/26/2021

Every business has different needs when it comes to cash management. Our experienced team understands that and will work with you to recommend the best combination of Cash Management services to help you maximize cash flow, save money, and reduce the time you spend on your business’s finances.

We asked our Vice President of Cash Management, Michael Tudino, to answer the most common questions we hear about Cash Management to help you understand what it is and how it can help your business save time and money.

  1. What is cash management?

Cash management refers to securely managing cash inflows and outflows because in business, cash flow directly impacts your company’s financial stability and future growth. Put simply, the goal of cash management is to maximize the availability of cash in a secure payment environment while minimizing additional costs.

  1. What is the importance of cash management?

According to a U.S. Bank study, 82% of business failure is due to poor cash management. As your business grows and develops, you will need cash management services to help you control and maximize your cash flow. Cash management services ensure a streamlined process to access your cash faster and include the additional benefit of fraud prevention. Services such as Positive Pay and ACH Positive Pay can help reduce the risk of loss and theft by adding an extra layer of security to your business account(s). Ultimately, the goal of cash management is to help your business save and protect your money.

  1. What services are offered in Needham Bank’s Cash Management Suite?

Our Cash Management Suite provides services in areas including maximizing cash flow, fraud prevention, collection and disbursement services, and account reconciliation. We work closely with you to build a custom package of cash management services, including:

CASH FLOW MANAGEMENT

Designed to help you improve your cash flow and manage your finances more effectively.

COLLECTIONS/RECEIVABLES

Keep your business moving forward—move funds electronically, deposit checks remotely, accept credit and debit cards securely, and use lockbox services to make the check handling process easier.

DISBURSEMENTS/PAYABLES

Initiate payments to your suppliers, vendors, and creditors without leaving your office from your desktop or when you are on the go with your mobile device.

FRAUD PREVENTION

Add an extra layer of security to your account by restricting who has access to your account, determining authorized electronic payments, and having your checks verified against a list of already approved checks.

DIRECT CONNECT FOR QUICKEN® AND QUICKBOOKS®

Import information directly from your business’s online banking history.

Discover our full Cash Management Suite with the benefits and features of each service.

  1. What will you gain as a business owner using our Cash Management Suite?

  • Security

Feel as secure online as you do walking into one of our branches. Our online banking platform is protected with out-of-band authentication and customized fraud and security alerts that let you know when something isn’t right.

  • Efficiency

Business owners don’t have time to waste. With our Cash Management features, your business will have fast, full-time financial tools that save time and increase efficiency.

  • Control

We know businesses need options when it comes to managing your cash. That’s why our Cash Management services are built to give you control and optimize your cash flow.

  • Convenience

With our cash management suite, you will save time and effort by managing your financial position online. You can review account information and pay bills whenever and wherever you want with your mobile device. You can also deposit checks with your mobile device, a scanner connected to your desktop or by visiting any of our convenient branch or ATM locations.

If you have any more questions about our Cash Management Suite, please Michael Tudino at 781-474-5448 or visit us at NeedhamBank.com/business/cash-management.

Similar Posts

4 Common Small Business Fraud Schemes and How to Protect Your Company 2/24/2021
Answers to Your Top 7 Questions About Construction-to-Permanent Mortgages: Everything You Need to Know 9/16/2020

Knowledge Center

Category

  • All
  • Calculators
  • Borrowing
  • Fraud Prevention
  • Home Ownership
  • Managing Debt
  • Retirement & Wealth
  • Saving & Budgeting
  • Small Businesses
  • Students

PLEASE NOTE:

You are leaving the Needham Bank website. By clicking "Continue" below, you will enter a website created, operated, and maintained by a private business or organization. 

Needham Bank provides this link as a service to our website visitors. We are not responsible for the content, views, or privacy policies of this site. 

We take no responsibility for any products or services offered by this site, nor do we endorse or sponsor the information it contains. 

Continue to leave the Needham Bank site.
OR
Stay here to close this message.

  • Home
  • Locations
  • Contact us
  • About
  • Careers
  • Account Support & Safety
  • Privacy Policy
  • TERMS OF USE
Member FDIC Equal Housing Lender Member DIF
© 2023 All rights reserved. Powered by Getfused