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.

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

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

“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.”

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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 courtesy: Heritage Bank NW

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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