Business owners have a lot on their plate. Inventory,
staffing, schedules, banking, paperwork and so much more. They work tirelessly
to get things up and running and plan hard for expansion or growth. But the one
thing that drives it all is cash flow. Keeping funds moving in the right
direction requires a deft hand and the ability to save for a rainy day…or
unexpected pandemic. At Heritage
Bank
, treasury management relationship officers like Roscinda Cruz help
businesses accomplish all that and more.

Heritage Bank NW
At Heritage Bank, treasury management relationship officers like Roscinda Cruz help businesses of every size manage cash flow. Photo credit: Heritage Bank NW

Cash flow is more than simply bringing in funds through
sales and paying your staff and vendors for their service. Industry reports explain that:
“Cash flow is one of the most critical components of success for a small or
mid-sized business. Without cash, profits are meaningless. Many a profitable
business on paper has ended up in bankruptcy because the amount of cash coming
in doesn’t compare with the amount of cash going out. Firms that don’t exercise
good cash management may not be able to make the investments needed to compete,
or they may have to pay more to borrow money to function.”

Roscinda Cruz has worked in banking for her entire
professional career, a total of 22 years. She’s seen the economy, technology
and business outlook pendulum over the years and knows how uncertain things can
feel. Originally from Guam, she settled in Oregon in 2000 where she works hard
with, and for, businesses across the Pacific Northwest from Heritage Bank’s offices
in Hillsboro.

Before COVID-19, Cruz admits that her treasury management
advice didn’t change much based on a business’s size, longevity or future
goals. “Businesses of all sizes are facing the same dilemma, how to keep
employees and customers safe while keeping revenue flowing in.”

But perhaps unsurprisingly, the arrival of the coronavirus
brought changes. “Since the pandemic, it’s become a requirement for businesses
of all sizes to have some sort of online presence to continue to stay in
business, regardless of industry,” she explains. “This wasn’t always the case.”

Heritage Bank NW
Heritage Bank offers cash flow services, commercial lending, lines of credit, and assists with credit card processing via your website or online store. Photo credit: Heritage Bank NW

“Work with your banker or bank to determine the appropriate treasury
management solution or solutions to help expedite funding for receivables,”
Cruz advises. “Treasury solutions like ACH Origination and Merchant Services
can help businesses improve accounts payables and accounts receivables while
providing the flexibility to meet your customers’ needs now and in the
future.”   

Automated Clearing House (ACH) is a funds transfer system that
provides for the interbank clearing of electronic entries for participating
financial institutions. Origination is established through your bank, simply
contact a business
banking relationship manager
to get started.

At Heritage Bank, Merchant
Services
can run the gamut from credit and debit card processing to
securing your payment solutions and running a financial checkup to look for
ways to add value or save money.

Heritage Bank NW
Money comes in through the sale of goods and services but goes out to staffing, inventory, supplies, and so much more. Heritage Bank can help keep cash flow strong. Photo credit: Heritage Bank NW

“Basically, businesses should examine their options to
expedite funding of accounts receivables, like speeding up payments and
collections, ACH, and Merchant Services,” says Cruz, “and looking for more
efficient solutions for everyday spending and accounts payables like going
paperless whenever possible, using online accounting software to track invoices
and payments and more.”

When not working, Cruz says she enjoys spending quality time
with family at any one of Oregon’s beautiful beaches. They may not be the warm,
sandy tropical beaches of her childhood but visiting is always a joy.

Businesses bring in funds from the sale of goods or
services. But they spend them on advertising, insurance, inventory, payroll,
taxes, rent, utilities, supplies and licenses…just to name a few. Managing
everything may feel overwhelming but you don’t have to go it alone.

Heritage Bank offers services
including checking, savings and investment accounts, online banking
facilitation, loans for commercial real estate, construction and lines of
credit, and a range of international banking options. They’ll help fund, build,
maintain and expand your dream business from day one until retirement.

When you’re ready to start, simply book an appointment online and a local relationship manager will reach out. Or find the branch near you and call today to learn about their many options.

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