Providing Cash Management Solutions Through Centime Partnership

Providing Cash Management Solutions Through Centime Partnership

Author: Carrie Zoucha, Vice President, Commercial Payments-Centime Business Strategy

Cash is the lifeline to a successful business. Research shows that the number one reason companies go out of business is because they run out of cash. What they need is a way to optimize their accounts payable and receivable, ideally leveraging technology to do so.

FNBO partnered with Centime, a Boston-based fintech company, to co-develop a cash management platform. The platform tools allow companies to drive efficiency, gain control of their cash and ultimately maintain a healthy, thriving business. 

Centime's centralized platform offers robust accounts payable automation and accounts receivable automation solutions, crucial for growing businesses focused on effective cash management. Understanding that cash connects every part of a business, the platform also provides tools to monitor cash flow and secure new credit lines, in addition to streamlining and automating AP and AR processes.

FNBO provides the money movement behind the AP module, allowing companies to make account to account transfers, pay suppliers via ACH or virtual card, and access a 90-day working capital line of credit.

FNBO customers using Centime are finding value in the product and in the partnership.

"It’s a very easy platform to use and so far, we’re loving it," one business client said.

Another business said Centime is a great addition to their operation.

“We’ve already saved so much time versus our old manual process,” the customer said. “This has allowed our staff to focus on other projects while also providing a way for us to operate efficiently, gain visibility into our cash flow and make sure our bills get paid on time." 

FNBO Commercial Payments Advisor Matt Martin said Centime tools enable him to strengthen relationships with his customers. One of his clients found that the platform made them exponentially more efficient, saving time and money while also adding a layer of security in their payments processes.

“I recall a conversation with them while they were still on a ‘free trial’ where they actually asked us to begin charging them for Centime because they were seeing such value in this service,” Martin said." 

As we look toward the future of our partnership with Centime, we'll learn, iterate, gather feedback and adapt to continually meet market demands. And we will continue to work with businesses that can benefit from cash management tools and products.

Learn more about how Centime can simplify your financial operations.
 
About the Author

Carrie has over 20 years of banking and payments industry experience. In her current role, she has the opportunity to work with large corporate clients. She enjoys learning about their business and helping them grow by providing a range of solutions, including commercial card and corporate treasury services.