For many businesses, growth is limited by the amount of working capital that is available. This leads to missed opportunities and unfulfilled potential. At Bank of Oak Ridge, we offer Business Manager, an innovative product that allows businesses to utilize their accounts receivable as an asset, and begin conducting business on an all-cash basis.
Business Manager enables companies to bridge the gap between payables due to suppliers today and receivables that customers won’t remit for 30 days or more. Businesses get cash for accounts receivable deposited directly into their bank account by selling them to Bank of Oak Ridge at a discount. The bank can then send statements on behalf of the business, and offer payment terms to customers.
Business Manager Enables Businesses To:
Improve cash flow
With a more predictable cash flow, businesses can make payroll, remit payables on time, increase inventory, and pursue new business opportunities.
Save time and money
Businesses can take advantage of prompt payment discounts from suppliers and get back to doing
business. Sending files electronically allows personnel to be more productive.
Better manage their business
Companies can track receivables with detailed reports, reduce debt, maintain a liquid working capital
position, and prevail in seasonal fluctuations.
Businesses can choose to use the bank’s presence on customer correspondence, which influences customers to pay on time.
Bank of Oak Ridge makes it possible for businesses to take advantage of their full growth potential. To learn more about Business Manager, call Client Connect at 336-644-9944, use our online contact form, or stop by one of our convenient Triad office locations.