A self-help tracking tool for small business

Tuesday, 27 October 2009, 2:49 pm
Press Release: ASB Bank

ASB Business Cash Plan: A self-help tracking tool for small business

ASB has launched another new online tool to help small businesses to keep track of and manage their cash flow using transactions directly from their ASB bank accounts.

There is no need to export bank account information into a separate platform - it’s all available and fully integrated within ASB’s FastNet internet banking service.

Small business customers from around the country, including farmers, bakers and mechanics were consulted in building this tool, to ensure it met their needs and added real value by simplifying their business administration.

“Our relationship managers have been working with our business customers to understand what they really need to help streamline their businesses,” says James Mitchell , Chief Executive Relationship Banking. “We’ve been delighted with the early positive reaction in the market place to this new financial help tool.”

“When ASB was the first bank to launch internet banking in New Zealand back in 1997 many businesses applauded the way it transformed their everyday financial business tasks. Now we’ve taken another step ahead by integrating our internet banking with an online Cash Management tool, saving customers time, money and giving them greater visibility of the effect their day to day transactions have on their cashflow.”

ASB Business Cash Plan launches for FastNet Classic customers today and for FastNet Business customers on 9 November. The new tool has been included free as part of the standard FastNet Business offering but is an add-on module for FastNet Classic customers, so after a free 90-day trial the cost for them will be $5.00 per month.

This new tool will be of most use to small to medium sized businesses but LAQCs, charities, schools and clubs may also find its cash tracking features to be beneficial.

Key benefits of ASB Business Cash Plan are that it can:
• Help show where cash is encumbered
• Identify potential cash flow bottlenecks
• Allow forward planning and forecasting
• Help save interest costs through better cash management
• Improve visibility of your cash position and help business people make more informed decisions for future development and expansion.

Anyone interested in finding out more or to see how ASB Business Cash Plan works can visit the online demonstration at www.asb.co.nz/bcp-demo

ENDS

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