Financial Cents | Arizona's Financial Podcast
Brent Cannon, executive vice president, director of community banking at National Bank of Arizona® is your host of Financial Cents, Arizona’s Financial Podcast. Each episode, Brent invites fellow banking colleagues with decades of experience in the financial industry to provide both financial and business insights that you could only get if you had a friend in the industry.National Bank of Arizona was founded on the mission to build local relationships, deliver financial literacy and exceptional customer service. More than 30 years later this approach has not changed, serving almost all the communities throughout the state of Arizona. By seizing technology opportunities in the 21st-century, National Bank of Arizona continues this approach with the foundation in which this organization was built upon. This financial podcast was created in efforts to continue to connect with consumers and business owners, building relationships with new listeners and currents clients alike. To learn more, check out nbaz.com/financial-cents.
Financial Cents | Arizona's Financial Podcast
How to Manage Cash Flow for Small Businesses
What is cash flow, and why is it so important to any small business? What are some cash flow management techniques? How do cash flow problems arise? What is treasury management and how can it help? For most small business owners, these can be very important questions, though may not always get the attention they deserve. Because the truth is, most small businesses don’t have the benefit of a chief financial officer, treasurer or an operations manager on the payroll. And with the sheer number of responsibilities a small business owner must attend to, they simply may not have the time to manage their cash flow the way they want.
In this episode of Financial Cents, Zak Wagner, senior vice president and treasury management manager, joins guest host John Lewis, senior vice president and business banking regional manager, to discuss cash flow management for small businesses.
As Zak explains, cash flow, in its most simple form, is the money coming in and the money going out for a business. Depending on the type of business, there could be hundreds of transactions a day – customers paying for products and services and the business paying vendors and suppliers. And keeping track of all of this is a vital part of keeping businesses solvent.
The ideal cash flow strategy, according to Zak, is making things as simple and efficient as possible. Business banking should never be an afterthought, but it should be something a business owner can manage quickly and efficiently, with little interruption to their busy schedule.
And that’s where leveraging the relationship you have with your banker can really help. If they know the ins and outs of your business and your processes for receiving or paying money, they can help identify treasury management products and solutions to simplify the process, giving you more time to spend doing what you love.
Financial Cents features bankers from around National Bank of Arizona using their knowledge and experience to offer the kinds of insights and strategies that individuals and businesses could only get if they had a friend in the business.
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