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Pinnacle Bank Wyoming Payables Management

Pinnacle Bank Wyoming Payables Management

For any business, money going out is just as important as money coming in. In fact, the more control you have over your payables, the more control you will have over your cash flow. The basic premise of payables management is that the longer you can keep your own money, the more you can add to your bottom line. There are also tremendous benefits from improved relationships with your creditors and vendors. The most immediate benefit of a more streamlined and automated payables process is the reduction in costs associated with invoice processing, account reconciliation and check writing.

At Pinnacle Bank, we understand that cash is critical to a growing business, so we are committed to providing our business customers with the latest in cash management technology and services. Our Payables Management Solutions are based in the most advanced technology to ensure the fast, reliable and secure disbursement of your cash.

Pinnacle Bank Payables Management solutions can help your business

  • Streamline and automate accounts payable functions
  • Improve the overall efficiency of your payables processes
  • Control the timing of disbursements
  • Better manage creditor and vendor relationships
  • Reduce the risk of fraud
  • Reduce staffing costs
  • Optimize cash flow and working capital
  • Gain more control over spending

Pinnacle Bank Payables Management Solutions

We offer an array of payables solutions to meet your specific payment needs, whether you simply want to reduce your costs or are looking to automate the entire payables process.

Pinnacle Bank Automated Clearing House (ACH) Origination Service

In business, there are few things more costly and inefficient than issuing and mailing checks. As a participant in the vast ACH network of financial institutions, Pinnacle Bank provides businesses with an electronic alternative to paper checks, enabling you to transfer funds quickly and cost-effectively. Electronic payments through ACH can virtually eliminate the hassles, delays, risks and costs associated with paper-based transactions. With Pinnacle Bank ACH services, your payments are transferred by the most efficient and cost-effective means available.

Electronic funds transfers enable you to better control the timing of payments in order to optimize cash on hand. ACH also guarantees the delivery of time-sensitive payments such as payroll or taxes, and it can eliminate costly past due charges.

With Pinnacle Bank ACH Payments you can:

  • Gain more control over your daily cash flow
  • Streamline the disbursement process
  • Keep your cash working up until the last moment
  • Improve cash flow forecasting
  • Reduce the incidence of fraud
  • Set up recurring payments
  • Eliminate mail float
  • Streamline reconciliation

Business Bill Pay

This convenient way to make payments is a definite plus for your money management. Using the Internet, you can make payments more efficiently, saving you time and money. Plus, encryption technology ensures each payment is sent in a safe and secure environment.

Pinnacle Bank's PinnPay for Business comes with these great features:

  • Payments can be paid to almost any vendor.
  • Payments can easily be scheduled, changed or stopped.
  • Payments may be made from multiple checking accounts.
  • Multiple employees may be authorized to make payments.
  • Dual control is available.
  • Payment history is stored automatically within the system.
  • Questions are answered live from 6:30 a.m.-10:00 p.m., Monday-Friday.

Positive Pay

Pinnacle Bank's transaction management system encompasses check positive pay, positive pay and check reconciliation. Positive Pay can help reduce check and ACH fraud by allowing you to review daily suspect activity online. The system automatically alerts you by email if either check exceptions or ACH exceptions require review or a pay or return decision. Clients can make such decisions, view images of checks in question, analyze reconcilement reports and submit electronic issued check files all in a secure paperless environment online.

Benefits of Positive Pay:

  • Secure web interface manages all interaction and eliminates the need to install software.
  • Automated email notifications are sent when check exception items or ACH activity are presented.
  • Positive Pay monitors exceptions for unauthorized ACH activity.
  • Online exception management enables clients to make pay or return decisions on the web for both checks and ACH.
  • Integration with Pinnacle Bank's teller system provides front-line defense against check fraud.
  • Check image integration allows for viewing images of exception items.
  • Automated processing of submitted check files eliminates manual intervention of submitted check files.

Zero Balance Accounts

If you need separate accounts to track specific activity for your business, such as disbursements, payroll or tax processing, and credit card merchant activity, we offer our Zero Balance Account (ZBA). Each night, as the special activity is posted to the ZBA, our system will automatically fund any disbursements by transferring from your operating account or will move excess deposits to your operating or consolidated funds account.

Using these types of subsidiary accounts to separate the transaction types can streamline the account reconciliation process for your accounting staff.

Whether you're a small business with low volume payables or a large organization with high volume transactions, our experienced staff will work with you to develop the payables management solution that best fits your business needs. For a consultation with one of our cash management specialists, call 1-800-789-7156 or visit one of our convenient banking centers at a location near you.

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