Manage episode 336040318 series 2839167
Most businesses take a reactive approach to their banking needs. They are likely to default to the bank that has the lowest fee. Also, they might have several exposure points for attackers to get access to your accounts. But does the lowest fee always mean the best strategy for your business? What if someone gets unauthorized access to your account and drains all the funds? Well, you will be able to get your money back. But it might take several months. And during these months, you might have to deal with the cash flow challenges. So a solid bank integration strategy is essential for businesses.
In today's episode, our guest, Matt Bernot, shares his insights into the nuances of bank integrations and considerations for ERP buyers. He discusses the differences in several options that might be available from banks and through the ERP integration and how that might impact business. Finally, he discusses bank integration concepts such as positive pay, NACHA files, and exposure points.
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.