As Nevada’s business community continues to grow, an innovative cash management strategy can make companies of all sizes more competitive in an ever-changing landscape.
Once nearly exclusive to large companies, transformational treasury management tools and technologies are leveling the playing field for businesses of all sizes by helping provide data and solutions for cash management. Working with an experienced treasury management provider can help business leaders run their organizations better, accelerate the move to electronic and real-time payments, streamline payables and receivables and reduce reliance on costly paper and manual processes. Technology driven solutions can also help leaders monitor flows of money across multiple business units, allowing time-sensitive adjustments as market conditions evolve.
“PNC’s treasury management team collaborates with our clients to help them maximize the value of their working capital,” says Denette Suddeth, PNC regional president for Nevada. “Along with improving daily cash flow, an effective cash management strategy could reduce costs and manage operational risks.”
The Advantages of PNC Treasury Management
“Treasury management isn’t one size fits all,” Suddeth explains. “Your treasury management provider should understand your business, its cash flow cycle and your industry, and offer a broad mix of skills and services to meet your unique structure and goals.”
To ensure the bank is at the forefront of the financial services industry, PNC annually makes significant investments in technology and product development to provide tailored applications and innovative solutions to address clients’ specific needs. More so, PNC also collaborates with financial technology firms, when needed, and has also acquired several technology-focused firms to broaden the bank’s capabilities.
One example of PNC’s focus on innovation is PINACLE® Connect, an easy-to-implement ERP, accounting software and treasury workstation connector that delivers an embedded banking experience, and requires little to no technology resources to implement. Intuitive in-app features enable end-users, such as accounts payables teams, to pay vendor bills using a variety of payment types, automatically generate remittance emails and track payment statuses. Other end-users, such as treasury teams, can view near real-time account balances and leverage automated bank data feeds for daily reconciliation. PINACLE Connect provides clients with a streamlined interface, keeping their day-to-day activity in one platform – removing the need to switch between systems – and ultimately, eliminating friction in the customer experience.
“In today’s interconnected world, both consumers and businesses expect seamless experiences that deliver instantaneous results within the digital experiences they use every day,” Suddeth says.
Is It Time to Reevaluate Your Treasury Management Strategy?
How do companies know if it’s time to change their treasury management process? PNC recommends that a company evaluate their processes if they:
- Haven’t conducted a detailed review of their cash management processes in the past two years.
- Experience challenges servicing their customers due to limitations with their current platform.
- Have a small staff with limited cash management experience.
- Are not using proven techniques to maximize cash flow value.
- Need to free up time to focus on other business activities.
PNC Treasury Management offers a platform of innovative, end-to-end technologies coupled with experienced teams, who work with clients to develop a cohesive treasury management system. Clients can optimize cash flow, achieve faster and more secure transactions, and drive their businesses forward. Learn more at pnc.com/tm.
Join us to learn about our treasury management and fraud protection services at an event at 3 p.m., March 8, 2023, at Top Golf Las Vegas. Contact PNCNevada@pnc.com to learn more and RSVP.
PNC and PINACLE are registered marks of The PNC Financial Services Group, Inc. (“PNC”) Bank deposit, treasury management and lending products and services, foreign exchange and derivative products (including commodity derivatives), bond accounting and safekeeping services, escrow services, and investment and wealth management and fiduciary services, are provided by PNC Bank, National Association (“PNC Bank”), a wholly owned subsidiary of PNC and Member FDIC. Lending, leasing and equity products and services, as well as certain other banking products and services, require credit approval.
©2023 The PNC Financial Services Group, Inc. All rights reserved.
