3 Ways Business Owners Can Easily Boost Business Efficiency

With PSBank’s Business Online Buddy, managing business finances becomes simpler and more convenient for entrepreneurs.

Starting a business—and scaling it—is easier said than done for newbie and seasoned entrepreneurs. Business owners need to stay on top of all aspects of their business, including pending bills and client payments. 

It can be easy to lose track of all the details, and this can hinder business growth. To deal with these challenges more efficiently, here are three ways business owners can optimize business operations with the right bank partner, such as PSBank. 

Simplify Payroll

Manually processing payroll once or twice a month is a laborious task. Not only is it time-consuming; there’s also the risk of committing human error, which can lead to problems for the business. 

With PSBank, entrepreneurs can open a Corporate Account that gives them free access to Business Online Buddy (BOB), a platform meant to simplify business transactions for business owners.

Through BOB, business owners have a faster, safer, and more accurate way to disburse salaries as salaries can be disbursed directly to PSBank Payroll Accounts in just a few clicks.

Automate Payments

Part of running a business is ensuring timely payments of rent and utilities. There are also suppliers and service providers that need to be paid on time, too.

Missed payments can cause major stress for business owners, but this is something that PSBank’s BOB can address. Through the platform, business owners can set up Auto-Credit Arrangements and access a wide network of accredited billers. 

It is possible to pay utility bills and rent and even schedule recurring supplier payments through BOB to ensure that everything is done on time. BOB can likewise be used to disburse bulk payouts or collect payments from clients. 

Track Finances

Managing the finances of the business is a crucial part of being a business owner, and this requires optimal visibility and secure management. It can be easy to mishandle funds or lose track of cash flow if there is no consolidated tracking of finances. 

BOB helps business owners monitor their finances more conveniently, efficiently, and in real time. Through BOB, business owners can have access to up to three months’ worth of transaction history. 

For added security, BOB likewise offers multi-step authorization and user access management, which provide full control over who can view and manage specific financial tasks. 

How to Open a PSBank Corporate Account

Opening a PSBank Corporate Account is straightforward and can be done by heading to the nearest PSBank branch. PSBank’s BOB is free for all PSBank Corporate Account holders.

More information can be found on the PSBank website.