PNC Offers ‘Cash Flow Insight’ to Help Business
PITTSBURGH -- Cash Flow Insight, a new product from PNC Bank, provides owners of small businesses with an online view of their cash positions so they can anticipate potential shortfalls and avoid them, Jeff Schmidt announced Monday.
Schmidt leads the business banking division of PNC Bank.
Cash Flow Insight, available throughout PNC’s footprint, expands upon PNC CFO: Cash Flow Options, Schmidt said.
"The most anxious moments for small-business owners typically aren't about making a profit -- it's being short on cash," Schmidt explained. "Similar to Virtual Wallet and Wealth Insight, this is another example of how we can leverage technology to help our customers more easily achieve their financial goals."
Accessible via PNC business online banking, the suite of online tools enables owners to make more informed decisions on purchases, hiring a new or seasonal employee or reinvesting cash in their business as well as forecast the future. More functions will be added later this year, but among the key features:
- Timeline: View your future cash position based on incoming and outgoing cash over time; see alerts for potential cash shortfalls.
- Trend: Track and compare performance month-to-month for earlier, current and next year; plan for this year and next.
- Cash In: Track expected receipts.
- Cash Out: Track outgoing payments (payables) you have scheduled or anticipate making.
The key to managing a business is accurately analyzing cash flow "so you can quickly figure out how to adjust to day-to-day changes and recognize trends," Schmidt said.
Published by The Business Journal, Youngstown, Ohio.
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