“The accountant checks the accounts weekly so minor errors are caught and fixed right away. The new system also allows for routine audits, which provides peace of mind.
![cashflow online cashflow online](https://secure.meetupstatic.com/photos/event/6/e/e/f/highres_495628399.jpeg)
We see in real-time what cash is available day-to-day.” We have instant access to all our financial information, from withdrawals and deposits to cash currently available,” she said. “When front desk staff accepts cash, check or credit card, they enter the copay amount.
![cashflow online cashflow online](https://planmagic.com/business-plan/online-business-plan/images/cashflow.png)
Khanna cited efficiency and immediate accessibility as the biggest benefits of this remote deposit system. The accountant is also set up to see the financial status of the business.” Efficiency, ready access and reassurance “Through Webster Web-Link®, staff at ECCA can see all their accounts and can move cash between accounts. “This allows staff to make deposits well past the time branches are closed,” she said. Larabee explained that a check scan machine sits on the desk and is connected to a remote deposit service. She simultaneously sees the status as well using Webster Web-Link®, Webster’s online banking system.” It’s also more e client for our accountant. “There is no waiting for the funds to appear in our account. Now when checks come in, they are scanned and deposited,” said Khanna. They installed the equipment and trained all staff. “Webster Bank helped set up our own deposit system. Many customers like that.”Īfter reviewing ECCA’s needs, Larabee and her team offered a solution to streamline operations that eliminated unnecessary paperwork and delays. This system saves the time of going to the banking center. Webster Bank’s Treasury Sales Officer, Sharon McKinstry, said, “We help many health care companies to improve receivables with check scanners, lockbox services and online payment portals, while also educating them on fraud awareness.
![cashflow online cashflow online](https://www.zoho.com/books/cash-flow/cash-flow-statement.png)
The team included industry specialists who worked together to create a custom-made system. “We discussed their goals and introduced products to help achieve those goals,” she said. To ensure that the Bank provided the best option, Larabee brought in an experienced cash management team to evaluate ECCA’s current system. With the help of Annette Larabee, Webster Bank’s relationship manager, and her team of experts, ECCA successfully transitioned to a new, more efficient system. “When checks came in, we had to fill out deposit slips and then drive to the bank. She explained that the business had been using a traditional system that required several man-hours on a daily basis and caused delays in depositing funds. In 2014, Eastern Connecticut Cardiology Associates, LLC called on Webster Bank to help the business create a better, more efficient way to manage its cash flow and track financial information, according to administrator Rachna Khanna. Webster Bank has earned a well-deserved reputation for offering a comprehensive portfolio of products that supports cash flow management for businesses in a variety of industries.
![cashflow online cashflow online](https://cdn-az.allevents.in/events7/banners/03a670599b63610fcb24226b6376ca6b21fcf2fbf3995138e6374ed9b64ffd6b-rimg-w1080-h1080-gmir.jpg)
In today’s high tech world, effectively managing cash flow has transitioned to an online system that provides access to cash, accurate tracking and routine updates to financial data. In the past, this meant having a dedicated employee who focused solely on recording revenue and tracking spending, usually on paper. This article was previously published by the Hartford Business JournalĪny business that expects to operate efficiently and experience growth and expansion must have a detailed, well-thought-out cash flow management system in place.