Managing cash flow is a major challenge for small business
owners and according to Fundera, a staggering 82% of businesses that
failed cited cash flow problems as a contributing factor.
That’s why Zions Bank recently teamed up with Autobooks to
launch a new line of digital banking invoicing, payment acceptance, and
accounting services that help bridge cash flow gaps. Autobooks is a
an accounting services platform used by over a thousand financial
institutions and is growing quickly — in 2023,
Autobooks was ranked on the Inc. 5000 with a 2,240% 3-year growth.
I’ve included a press release attached and below with more
details.
ZIONS BANK OFFERS SMALL BUSINESSES
DIGITAL BANKING INVOICING, PAYMENT ACCEPTANCE AND ACCOUNTING SERVICES
MONTPELIER, Idaho; April
4, 2024 — Managing cash flow is a perennial
challenge for small business owners. The biggest cause of cash flow issues,
according to a study by
the National Federation of Independent Business, is the timing difference
between requesting and receiving payment.
Expanding its
support for small business owners, Zions Bank has launched a new line of
digital banking invoicing, payment acceptance, and accounting services that
help bridge cash flow gaps by making it easier for customers to make payments,
resulting in businesses getting paid faster. This new suite of services is
provided by Zions Bank and powered by Autobooks.
Small businesses can conveniently manage invoices and
accept payments through these new services online, over the phone, or in
person. Clients can easily categorize their expenses and efficiently manage
their financial books.
The digital invoicing and payment acceptance capabilities enable small businesses
to create, manage, and send branded invoices and to accept credit cards, debit
cards, and ACH payments. Clients can also text payment links and generate QR
codes for payment. Additionally, service providers can initially offer project
estimates that can later be converted into invoices. All payments received are
directly deposited into the small business’s checking account.
With the new accounting features, small business owners can create budgets,
generate financial reports — including profit and loss and balance sheets — and
categorize expenses.
“Our new small business digital banking invoicing, payment
acceptance, and accounting solution is seamlessly integrated into our client’s
digital banking account for a simplified business management experience,” says
Catherine Arik, Eastern Idaho region president. “We’re empowering small
business owners with these tools so that they can spend their time doing what
matters most to them — growing their business.”
For more
information, visit zionsbank.com/getpaid and zionsbank.com/accounting
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