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At Atlantic Union Bank, our Treasury Management Services comprise more than a collection of technology features that support your banking needs. They are part of a broader strategy that can help manage all aspects of your business’ financial infrastructure.

You may already be using online banking to manage balances and pay bills, as well as accept Automated Clearing House (ACH) payments from your customers. But, there are many more capabilities that can help you manage your business and working capital and, in turn, give you some time back for the day-to-day interactions with your team and customers.

1. Automation
From managing payroll and remote check deposits to everything in between, automating your business processes will create efficiencies, as well as give you some peace of mind. Automation also adds a layer of security to your payables and receivables processes.  It may also create an opportunity to streamline the responsibilities of those employees who may be performing manual and time-consuming tasks, thus opening up capacity for them to take on other things.

2. Accounts Receivable
An important aspect of running your business is ensuring you have a strong accounts receivable process and are maximizing the flow of incoming payments. Collecting payments from customers and giving them more ways to pay is always good for business.
 
  • ACH Payments allow for easy collection processes from vendors via quick and secure transfers from their accounts to yours using bank routing numbers.
  • Remote Deposit Capture allows you to conveniently deposit checks into your account electronically, via a high resolution scanner.
  • Lockbox Services collect payments into your business or commercial account in order to speed deposit processing and relieve bookkeeping workload.
3. Efficient Payment Processes
Efficient payment processes are a critical element to your business.  Our Treasury Management Services feature several options that provide effective and secure means to pay vendors and/or suppliers.   They help streamline the payables process and increase overall efficiency.
 
  • ACH Disbursement Services can pay your employees via direct deposit and also can be used to establish recurring vendor payments.
  • Integrated Payables allows you to streamline payments through reconciliation via a three-step accounts payable process, by outsourcing this function.
  • Purchasing Cards can be issued to your employees for travel & expenses but can also be used to pay vendors and suppliers to help decrease costs and time associated with check, invoice or purchase order processing and reimbursements.
  • Wire Transfers, either domestic or international, can be done right from your office computer via Atlantic Union Bank’s online banking portal.   
4. Maximizing Cash Flow
Having cash on hand and actively managing those funds are an essential element of a successful corporate treasury.  It’s also critical to maximize and optimize your liquidity. Atlantic Union Bank offers a number of account types that can meet these objectives.  Sweep accounts can automate the investment of your excess funds to increase earnings, enhance your cash flow and minimize idle balances, while zero balance accounts can help eliminate excess balances.  Here’s how they work:
 
  • Maximum Investment Sweep transfers excess funds over a set target balance to an interest-bearing deposit account.
  • Insured Cash Sweep® (ICS®)* divides funds in excess of the standard FDIC maximum into smaller amounts and automatically deposits them with participating U.S. financial institutions.
  • Line of Credit Sweep moves your business’ cash to where it benefits you the most, either paying down your line of credit or replenishing your business checking account.
  • Zero Balance Account eliminates excess balances in separate accounts while maintaining control over disbursements.
5. Fraud Prevention
Hackers and scammers are everywhere trying to take advantage of you and your business. The implications of a data breach are substantial and can have a negative impact on your company’s reputation and operation.  Here’s how we can help.
 
  • Positive Pay can combat check fraud by allowing you to verify your checks against those presented for payment against your account. If there’s a question or discrepancy about the check, it will be flagged for you to review.
  • ACH Postive Pay protects your business against unauthorized ACH transactions, allowing you to select which companies are authorized to make withdrawals against your accounts.
  • ACH Debit Block protects your ACH withdrawals by blocking all access.
Simplifying your business processes through increased automation, improving cash flow, and protecting your business from fraud are just a few of the many ways Treasury Management Services from Atlantic Union Bank can help make your life easier and enhance your internal processes.

To learn more about our full suite of Treasury Management Services, click here or contact your Business Banker or Treasury Management Officer.

*ICS and Insured Cash Sweep are registered service marks of IntraFi NetworkSM