- Leverages Bill.com banking platform
- Takes paper out of the equation - receive payments and send invoices online
- Synchronizes data - automatically updates online bank accounts and third-party accounting software
- First bank to link payment information with real-time money forecasting feature
PITTSBURGH - Feb. 24, 2014 // PRNewswire // - PNC Bank., N.A. announced today additional features to Cash Flow InsightSM, a suite of online tools specifically designed to help small businesses better manage incoming and outgoing funds. The enhanced technology automates the payables and receivables processes, taking paper out of the equation when sending invoices, making payments and tracking approvals.
PNC is the first major bank to offer small businesses an advanced online solution that automatically links payment information with the business' bank account and popular accounting software. This eliminates duplicate data entry, reduces errors and provides cash forecasting in real-time.
These enhancements to Cash Flow Insight, which were developed based on the Bill.com business payment network, also allow business owners to look ahead at expected incoming and outgoing funds, informing more strategic business decisions such as hiring and purchasing.
In a recent survey of small business owners across the United States, PNC found that 87 percent of them are concerned about cash flow.
"We recognize the challenges our small business customers face, finding the time and resources to effectively manage their money," said Troy Baker, deputy manager of Business Banking, PNC Bank. "With these enhancements to Cash Flow Insight, business owners can stay organized and focused, as well as manage and forecast cash flow to make strategic business decisions in one place online."
Cash Flow Insight expands upon PNC CFO: Cash Flow Optimized, and is now available in all regions with a PNC presence. The suite of tools is accessible through PNC's online business banking, and more information can be found at PNC.com/CashFlowInsight.
Bill.com (www.bill.com) is a leading business payments network, with over 400,000 members paying and getting paid over $10 billion per year. Bill.com saves companies up to 50% of the time typically spent on financial back-office operations by automating end-to-end processes. Bill.com ties together finance and accounting programs, banks, customers, vendors, accounting professionals, and documents.
PNC Bank, National Association, is a member of The PNC Financial Services Group, Inc. (NYSE: PNC). PNC (www.pnc.com) is one of the United States' largest diversified financial services organizations providing retail and business banking; residential mortgage banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management.
SOURCE PNC Bank