WBSRocks: Business Growth with Enterprise Software and Digital Transformation
WBSRocks podcast features in-depth conversations on customer experience, digital transformation, supply chain, eCommerce, industry 4.0, and enterprise software categories such as CRM, ERP, or analytics suites. The purpose of the show is to help CFOs, COOs, CEOs, and business owners with their daily commercial, operational, or financial challenges by taking a deep dive into business cases and processes, technology strategy and architecture, transformation initiatives, and business models. The show also offers an independent analysis of technology trends, various enterprise software vendors and solutions, and their mergers and acquisitions. Subscribe today to stay on top of digital transformation trends!
WBSRocks: Business Growth with Enterprise Software and Digital Transformation
WBSP408: Grow Your Business by Learning Bank Account Management Best Practices, a Live Interview w/ a Panel of Experts
How hard could managing your business bank accounts be? Just run your EFT, receive your statements, and match your transactions. Right? Well, bank account management could get extremely nuanced as well. For example, if you are not set up positive pay, your accounts could get locked down for several days. Sure, you will get your money back if you have had a fraudulent transaction. But the money might not be available for months. So what do you need to know to set manage your bank accounts?
In today's episode, we invited a panel of cross-functional experts for a live interview on LinkedIn who brings significant expertise to discuss Bank Account Management best practices. We discussed bank accounts management concepts such as the right mix of chart of accounts for each bank account, the importance of sub-ledgers, and the challenges during audits without the processes for cash hygiene. Finally, we discussed horror stories covering concepts such as the disappearing of cash and using ghost employees to reconcile bank accounts.
For more information on growth strategies for SMBs using ERP and digital transformation, visit our community at wbs.rocks or elevatiq.com. To ensure that you never miss an episode of the WBS podcast, subscribe on your favorite podcasting platform.