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Regardless of the size of a business, the seamless and efficient handling of assets, holdings and day-to-day transactions remains a top priority. Treasury management is vital to balance cash flow levels and maximize liquidity across a business. Recognizing this need for the clients and communities we serve, Pinnacle Bank proactively built a team with the capabilities and resources to equip various organizations with precisely what’s needed — and nothing more.

What is Treasury Management?

Proper treasury management creates a robust portfolio of tools, services and guidance that help streamline cash management, enhance transactions and vendor operations and ultimately reduce any risk across an enterprise. Additionally, it helps retain compliance with the regulatory and governing bodies of a company. Lastly, treasury management establishes and maintains procedures and policies dealing with overall cash flow such as accounts payable, receivable, the costs of borrowing and any exchange rates.

Within Pinnacle Bank, our Treasury Management Services team is a specifically trained, highly specialized group carved out to directly assess and address our business customers’ unique investment and risk coverage. Like any professional relationship, the Pinnacle Bank team first seeks to understand what those needs might be, often requiring a certain degree of consultation and discussion.

In summary, Treasury Management Services at Pinnacle Bank are available, however and whenever your business may need them. We’ll never try to sell you anything and will always suggest a product or service we think will truly benefit your organization.

What are Treasury Management Services?

In addition to the traditional business banking offerings we offer, like business checking and savings accounts, our Treasury Management Services include the following:

1. Merchant Capture – We get it. When your establishment is open, you need all hands on deck tending to the business. It’s tough to get away and get to us, even if we’re across the street. With Merchant Capture, you can quickly and securely scan endorsed checks for deposit. We’ll handle the transmission and processing on our end so you can keep your business running. For more, visit:https://www.pinnaclebank.com/business/treasury-management-services/merchant-capture/
2. Fraud Defense – Unfortunately, scammers and thieves have been targeting businesses for some time, thinking they can exploit any weaknesses for their own gain. That’s why we offer Positive Pay for Precision® to protect against check fraud, notifying you promptly should it determine any suspicious activity. Our Fraud Defense is crafted to give you more control over the payment of checks. For more, visit: https://www.pinnaclebank.com/business/treasury-management-services/fraud-defense-with-positivepay/
3. HR, Payroll Merchant Services – At the heart of every organization is its people. That’s why good companies invest in this most important asset every day. We partnered with Heartland® to make payroll and HR solutions more streamlined and efficient. Talk to someone today who can help you help your people even more! For more, visit: https://www.pinnaclebank.com/business/heartland-payment-services/
4. Business Credit Cards – These days, credit can help businesses secure the goods and materials needed before future payment. As part of our Treasury Management Services offering, we’ve sourced five different MasterCard® credit cards built specifically for business. With slightly different features and benefits, businesses may choose from a Platinum Classic, Platinum Payback, Platinum Preferred, World Elite and World Elite Plus Pinnacle Bank Business Credit Card. For more, visit: https://app.thecardservicescenter.com/SelectionBusiness/index/7990
5. Business Online Banking – We invested in our financial technology to help individuals and business customers get ahead. With online business banking, your people can save time, enhance your cash flow and make cash management easy, all with the peace of mind in knowing your company’s information security is top of mind. For more, visit: https://www.pinnaclebank.com/business/treasury-management-services/business-online-banking/

The above summary only touched on what these products and services entail. We invite you to learn more about them by clicking on their individual links to determine how our Treasury Management Services can help your business today and tomorrow.

If you or someone in your company would benefit from an introductory discussion about our Treasure Management Services, feel free to reach out to any of our dedicated specialists here.

We’ve teamed up with Heartland® to offer you easy payroll and HR solutions to manage your greatest asset – your employees – while also protecting your business. Let us put you in touch with a Heartland Relationship Manager who can talk to you about fast, secure and simple solutions designed to help you better manage your business.

Ahhh, the holidays. It’s a magical season filled with good tidings and cheer. People bustle about, giving gifts and stopping to recognize friends both old and new.

They also spend a lot of money.

During December, while many people choose credit cards and loans to make purchases without affecting their cash flow, the reality is those bills will show up in January. Regardless of how you plan on filling those stockings, it’s good to make financial freedom your first New Year’s resolution.

Debt consolidation brings together all your current debts into one bundle with one payment. Executed well, debt consolidation can reduce the interest rates you were paying on your individual loans. And that means you can pay off those pesky debts that much faster.

We invite you to visit a branch to speak with someone about all of our loan possibilities. With their expertise, you can figure out the best decision for your financial situation.

Another option is to apply for a new Pinnacle Bank MasterCard® credit card with a competitive interest rate allowing balance transfers. Choose from Pinnacle Bank’s Platinum, Platinum Payback and Platinum Preferred MasterCard® credit cards!

Balance transfers allow you to move debt from one credit card to another, putting all of your debt in one place so you don’t have to pay interest on multiple cards. And with any of our credit cards, you get worldwide acceptance, great benefits and much more. Choose the card best suited for your needs and apply today on our website or in our branch.

Regardless of which route you choose, at Pinnacle Bank, we’ll be happy to walk you through every step in the process to ensure consolidating debt is the best option for you.

Get serious about financial freedom.

When you’re ready to talk about how Pinnacle Bank can help you manage your debt, we’ll be ready, too. Email us at customerservice@pinnaclebank.com or feel free to call us at 877.759.7939.

These days every organization is called to be a good corporate citizen. At Pinnacle Bank, we take this calling very seriously. Through our charitable giving and acts of service, we take action that reflects our community focus every day.

Pinnacle Bank strives to be the kind of financial institution aligning our values with yours and those of the greater community. While we focus primarily on financial products and services, we know that ethics, character and social impact are equally important.

Actions speak more loudly than words. So, we can’t just talk about helping to give back; we must act. Pinnacle Bank starts giving back before any charitable donations or volunteer hours are spent by focusing on the one subject their associates know best: financial matters.

We are committed to helping our customers and communities on their path to financial freedom and independence by offering many free financial education, tools and seminars.  We provide a mortgage resource center with mortgage tip videos, courses and workshops on building and managing credit, home buying and refinancing, saving and budgeting and planning for retirement.

When it comes to volunteerism, many of our associates are also glad to roll up their sleeves for causes greater than themselves. For example, as a part of Pinnacle Bank’s Salute the Troops initiative, all of our Pinnacle Bank branches partnered with HeroBox and launched a 3-month fundraiser, raising over $7,000 in donations. In addition, the branches went above and beyond by packing and sending care packages to our troops overseas. Their efforts ensure our mission in providing the physical and moral support our heroes deserve is fulfilled.

Denim and Donate is a program that all of our branches participate in on a monthly basis. It’s a way for Pinnacle team members to give back to local charities.

Pinnacle Bank also helps assist or host the chambers of commerce for many locales and business organizations. In fact, a few of our team members from Athens attended the Stronger Business Summit at the Classic Center in October. These unique experiences help educate leaders and businesses to become better and stronger — which, in turn, helps the people we serve in their communities.

Giving Back is a Part of What We Do.

To find out more details regarding our philanthropic and volunteer efforts in the communities we serve, feel free to email us at customerservice@pinnaclebank.com or call us at 877.759.7939.

 

 

 

 

 

 

The Gen Zers are coming! The Gen Zers are coming!

Generation Z, born roughly between 1997 and 2012, has arrived. At 9 to 24 years old, some of them are just now entering the workforce. As nearly 68 million of these people start earning paychecks and “adulting,” they’re also having a significant influence on the financial sector.

To properly understand Generation Z, you must look at what they value most in life and the unique environment in which they’ve developed. Growing up in the internet age, they are digital natives who’ve now experienced the Great Recession and the world’s first major pandemic since 1918. Logically, their work-life balance and personal well-being now come before anything else. How much money they make — or save for that matter — is important but does not surpass their passion for philanthropy, social justice, diversity and overall human equality.

There is no question: Gen Z will make money. A lot of money. In fact, some studies suggest their cumulative incomes will reach an estimated $33 trillion by 2030. Because of this great purchasing power, they will soon be the largest consumer segment, significantly affecting the broader economy and the financial sector.

And just what does this mean for banking? Everything. Banks must establish themselves as a vital part of the local community. They must also provide both the latest in financial tech and operate local branches to offer assistance, guidance and a base for philanthropic efforts.

Features like mobile and online banking, peer-to-peer payments like Zelle®, Mobile Wallet and remote deposit capabilities must be optimized and streamlined to keep Gen Z happy.

Hybrid technology options, like our Pinny Live Teller / ATM, are a perfect example of how we’re taking the ease and convenience of the traditional ATM and combining it with the personal, professional service of a live teller.

Generation Z likes its bank branches, too. Many turn to branches and call centers when opening a new checking account, resolving a complicated issue, or addressing potential fraud due to cybercrime. In addition, and despite the plethora of online resources, both Gen Zers and Millennials trust bank associates for financial management advice and guidance. They value personal connections, the face-to-face experience and trust brought about by discussing their finances and investments with actual human beings.

In the end, financial brands, like Pinnacle Bank, are recognizing the true power of Gen Z and are effectively seeking them out as partners when growing their physical and digital impact. For this exciting group, authenticity is king, and Pinnacle Bank is “keeping it real” with the products, services and manner in which we serve.

We’re Here for All Generations.

For more on how we’re reaching our communities, feel free to email us at customerservice@pinnaclebank.com or call us at 877.759.7939.

 

There is no question about the impact the recent global pandemic has had on the world. Not since 1918 has something so widespread and encompassing transformed the way we all live, work — and by default, bank.

Once generally accepted as the rare exception, remote work and teleconferencing have now become commonplace. Services that most would have previously considered too challenging to provide virtually, quickly shifted and adapted out of necessity. Customers accepted this shift, too, realizing that they had to engage in creative, new ways despite the obvious sacrifices.

The financial industry was no different. Most banking customers soon discovered that many digital and virtual tools could also work well for them, as they worked and spent more time at home. Primarily utilized in other industries, digital capabilities like video conferencing helped bankers remain a familiar face and a beacon for their customers in an uncertain world.

As Pinnacle Bank’s branches closed to help reduce the spread and risk of coronavirus infection, we promoted and urged our customers to access our virtual and online options. From direct deposit to bill pay, online banking to mobile banking, or simply just downloading our Pinnacle Bank app, customers found these viable and productive options to handle their financial affairs while in quarantine.

We reinforced other customer service touchpoints through enhanced and responsive email and, of course, provided actual human beings with whom to speak by calling 877.759.7939.

As our customers began using and learning about many of these alternative banking tools, they viewed them less as a temporary fix and more as a permanent and vital reality going forward. To help us fulfill our mission in helping our customers and our customers’ businesses with their financial needs, we promise to continue updating and enhancing these tools to meet you where you want to bank, whether in a branch, on the go, or online.

A locally owned community bank since 1934, we’ve certainly seen a few major events during our existence. However, it’s been nothing quite the magnitude of this global pandemic. If there’s one thing we’ve learned, it’s to keep meeting you exactly where you are.

Find out More About Our Digital Offerings.
We understand that navigating some of the finer details of our online and mobile services can be challenging.  If you need assistance finding ways to get the customer service you deserve, we can help you. Feel free to email us at customerservice@pinnaclebank.com or call us at 877.759.7939.

These days, it’s rare to find someone who keeps actual paper currency in their pocket – let alone coins. Given the proliferation of personal technology, most likely the only thing we do carry anymore is a smartphone. Those with smartphones contain financial apps that help us manage our money, make investment moves and pay for goods and services, all with the tap of a button.

The global pandemic brought about by COVID-19 accelerated the rise of many touchless — and thus cashless — payment options. While cash still plays a vital role in the economy, our banking app gives customers the flexibility and convenience to manage finances whenever and wherever they want. (Download it here for iOS or here for Android.)

When the pandemic gripped America, to avoid contamination from the virus, many merchants and vendors avoided cash as well.  They made immediate changes to their point-of-sale payment systems, regardless of the plans that had been made to roll out those same changes over the next three to five years. Many began offering more touchless payment options, enhancing the overall online experience and streamlining phone payments. Suddenly, in mere months — not years — entire payment processing systems were overhauled, hardware installed, software updated and people trained to operate them.

To further avoid cash transactions and person-to-person interactions, some merchants began requesting that patrons use payment cards. Some outright declared they would accept no cash payments whatsoever. Unmanned secure cash kiosks that can accept paper currency and avoid the risk of contamination started popping up as well. On the other side, many of the major tech companies like Apple®, Square®, Google®, and PayPal® were also fast-tracking the distribution and optimization of their cashless payment offerings.

For many financial institutions, keeping up with the increased demand for digital tools was also challenging. Most had to invest in optimizing online banking and banking apps to some degree. Standard checking account features like direct deposit, bill pay, and peer-to-peer sharing apps like Zelle® (all available with Pinnacle Bank) were both promoted and utilized much more by bank customers. In general, the limitations caused by branch closures created more online transactions and moved customers away from cash.

The institutional changes affecting payment transactions have mostly remained in place, even as the world recovers and returns to post-COVID openings. Seemingly cash is no longer the king it once was.

To find out more information about what Pinnacle Bank is doing to make banking safer and more touchless, email us at customerservice@pinnaclebank.com or call to speak with someone at 877.759.7939.

Despite the popularity of our mobile and online banking, many of our customers prefer to handle financial business at our branch locations.

While there are several reasons that support this finding, it’s interesting to note that the draw to a physical location can most notably be attributed to the friendly and talented people who work inside them every day. Ask any Pinnacle Bank branch manager what differentiates Pinnacle Bank from other financial institutions and you’ll hear, “Our associates.”

Even before COVID-19 affected the world and left its impact across the financial industry, we recognized how technology and other trends reduced the need for trips to the branch. In fact, some studies suggest that as much as 50% of in-branch transitions had declined due to alternative channels and payment options. The trends were clear.

As a result of all of these changes, Pinnacle Bank realized that the role of the branches must change and that we must focus on helping existing customers and meeting new customers face-to-face. At the end of the day, branches remain the most visible representation of our institution and what makes it unique. Our branches still matter and are at the heart of successfully serving you. After all, the overwhelming majority of account openings at banks and credit unions happen at branches.

Investing in technology and branch transformation will always be important to us, but the proximity to our branches remains the top criterion for meeting your banking needs.

The Pinnacle Bank branch is a true manifestation of our brand. It’s a fixed, long-term investment in the community it serves. We thoroughly research the location of each current and future branch. This upfront work helps support our broader, more cohesive strategy to expand our network and brand across Georgia.

Bank Where You Live
Regardless of where financial technology takes us, our customers will always want to meet face to face about their money. Whether you’re opening a new account, need cash, need to speak to someone about a serious matter, or have a significant life event coming up, we’ll be there – at the branch.

To find out the closest location to you, please call us at 877.759.7939, email us at customerservice@PinnacleBank.com or just enter your address online at locations.

An employee handbook gives your team a clear picture of your company’s guidelines, policies and expectations. And while you aren’t required to have an employee handbook, it’s an excellent way to communicate the ins and outs of your company and may help mitigate any legal issues you encounter.

An employee handbook gives clear guidelines of behavior that is expected and enforced at your company. It allows you to share your company’s vision, mission and general code of conduct with your employees from day one. A good employee handbook is a living, breathing document that your employees regularly reference—anything they want to know about working at your company should reside in the handbook.

What should you include in an employee handbook?
The following are six essential elements you should consider including in your employee handbook:

Company Overview.
Share how your company was founded and clearly define your mission, vision and purpose for being a company. You should also discuss which values you use as guiding principles to make decisions.

Employee Compensation, Benefits and Perks.
Explain how employees will be compensated—from payment frequency to available paycheck options (such as checks or direct deposit) to alternative compensation (bonuses or commission). Next, define your overtime policy (if applicable) and clearly explain what benefits (including insurance) your company offers. Finally, discuss any perks employees get from working at your company, which may include flexible schedules, remote work options, education reimbursement, a company car or cell phone and more.

Code of Conduct.
Thoroughly describe the conduct you deem acceptable at your company—how you expect employees to handle themselves while at work. Be as specific as you can, including such things as customer service, dress code, phone, computer and Internet use during work hours, breaks and rest periods, customer privacy, substance abuse, smoking guidelines, conflict resolution and more. Share what the expectation is and what disciplinary procedures are in place relating to each code of conduct violation.

Anti-Discrimination and Equal Opportunity Policies.
The law requires that you explicitly state how your company adheres to anti-discrimination and equal employment opportunity laws for hiring and promoting employees (under the Equal Employment Opportunity Commission or EEOC). Additionally, it would be best if you address your compliance with the Immigration and Nationality Act (INA), which prohibits unfair hiring, firing, promotion and recruitment practices related to an employee’s citizenship status, national origin and eligibility verification process.

Family and Medical Leave Policies.
If more than 50 employees work for your company, you should have a Family and Medical Leave Act (FMLA) policy in place and clearly outline it in your handbook. For more information, check out the FMLA Employer’s Guide or talk to your attorney or Human Resources consultant.

Workplace Safety and Security.
Clearly outline what steps you take to ensure a safe work environment at your company, whether physical or non-physical. And make sure you understand workers’ compensation rules and procedures to help your employees better should the need arise.

While this is not an exhaustive list of what to include in your employee handbook, it will give you a good start. Be sure to work with your attorney or a Human Resources consultant to help create a handbook that will clearly explain your company rules and guidelines to employees and protect you and your company from legal issues. Additionally, ask your employees to read and acknowledge receipt of the handbook annually to ensure they understand your company standards, which will further protect your company.

To manage your business effectively, you must understand the difference between making money and managing money. While some may think cash flow and profit are the same, they are very different. And both are critical to your future success.

What’s the difference between profit and cash flow?
A business can be profitable with poor cash flow, while a healthy cash flow doesn’t necessarily mean your business is thriving. Let’s start by defining each:

• • Profit (also known as net income) is your revenue after you subtract costs. Gross profit refers to what your business makes after you deduct direct costs. Net profit is what you make after you deduct all other costs.
  • Cash flow refers to how money flows into and out of your business throughout a given period of time—positive cash flow means there’s money coming into your business and negative cash flow means money is going out.

So which is more critical to your business—profit or cash flow?
Profit will show you the immediate success of your business, but cash flow may be more crucial to your company’s long-term plans. Profit is typically an indicator of financial health; however, cash flow is what keeps your daily operations moving forward. The critical difference between the two is timing. Consider these examples:

If you own a small consulting firm, you may likely collect your receivables on a 30-day or 60-day payment cycle. That means you’ll show a profit on your books, but the cash will not be available until you receive payment. So if you need to purchase something or pay vendors, you may find yourself with low cash flow. Unfortunately, you may have to put off a business opportunity or delay purchasing something you need—or be unable to meet your day-to-day obligations. And at the end of the day, you may not survive if you cannot maintain a positive cash flow.

On the other hand, if you own a local deli, you probably receive payments immediately at point-of-sale terminals through debit cards, credit cards, and cash purchases. In that instance, you will have cash flow immediately; however, you may have to sell much more than the small consulting firm to make a profit each day. And if you can’t regularly show a profit, it can negatively impact your ability to grow.

The importance of generating a positive cash flow.
A positive cash flow is necessary to generate profits. So it’s critical to take a closer look at a few ways to create positive cash flow, especially if you want your business to grow and thrive:

• • Tighten up your receivables window – and if you have customers who don’t pay on time, consider charging late fees or asking for upfront payment for specific products or services you offer.
  • Find ways to attract new business – not necessarily adding new customers, but focusing on increasing business with your existing customer base (as it’s much cheaper to do so). For example, consider offering a promotional special or a VIP program to existing customers to drive repeat business and potentially an influx of cash.
  • Get a short-term business loan – there are many available, including our business loans at Pinnacle Bank. Be sure to look for a loan that will help you meet your immediate cash flow needs without causing you to land in too much debt in the long run.

Next step: Discover more ways to optimize your cash flow.

Get the help you need.

Managing a business is challenging—there are many things to do on any given day. But it’s vital to look at how cash flow impacts your bottom line consistently. If you need assistance finding ways to maximize your profitability or improve your cash flow position, we can help you. Contact one of our business experts at 877.759.7939

Over the past several years, work habits have significantly changed. Many people work remotely and conduct business wherever they may be—and that includes small business owners. So, for example, instead of being tied to an office to manage your books or run payroll, you can now do what you need to do using an app.

Since the pandemic, improved mobile products and services have emerged to make business operations more manageable than ever. And while a mobile app can’t do everything you need, it can do quite a bit.

Let’s take a look at some of the operational tasks you can now do using an app:

Accounting/bookkeeping.
You can use mobile devices to generate estimates, send invoices, manage expenses, bill time and even scan and save your receipts. Some of the more popular accounting apps include QuickBooks, Quicken, NetSuite and FreshBooks.

What to do: Whatever accounting mobile device you use, be sure to link it to your Pinnacle Bank business checking account to manage your funds quickly and easily 24/7.

Mobile banking.
Using a mobile banking app, you can conduct nearly all of your banking business wherever you are and whenever you have the time. Here are just a few of the many things you can do:

• • • • Deposit checks
      • Pay bills
      • Transfer funds
      • Check your balance
      • Set up fraud alerts

With a Pinnacle Bank mobile app, you’ll experience increased security with multi-factor authentication and secure login.

Tip: Find out more about Pinnacle Bank’s mobile app by watching this short video.

Payroll.
Most small businesses depend on payroll services to help manage employee payroll, make tax payments and do other related business. Now you can manage payroll using an app — imagine clicking a few buttons to approve payroll from wherever you are. Keep track of employee hours, manage your tax payments and pay employees on time at your convenience.

Helpful: Talk to your payroll processor about the mobile app options available to you.

Customer payment management.
You can use a portable card reader and an app to turn your phone into a mobile point-of-sale system, accepting credit card, debit card and mobile wallet transactions. Additionally, you can receive payments from clients using Zelle® or other peer-to-peer payment systems (such as PayPal) to get money faster and safer.

Smart idea: Learn more about the payment processing services available at Pinnacle Bank with next-day funding, breach protection, and fast transaction processing.

Communicate with customers and employees.
You can use your mobile phone to talk to employees and customers wherever you are. But if they aren’t available, you’ll resort to leaving a message, which may or may not get returned. For quick and easy messaging, texting is the answer. And while a follow-up phone call may be required, it’s good to know you can text someone wherever you are. For example, you may see that someone has called you, but you cannot talk at that time. Simply send a text to let that person know you received the call and provide a time to call back. Or maybe you just want to check in on a customer or employee quickly — sending a text message is a great way to do so.

Another option: If you’re in a location where texting is unavailable, or you don’t have a person’s mobile phone number, you can use apps, such as WhatsApp or Facebook Messenger, to communicate with customers or employees.

Project management.
One of the significant challenges business owners face each day is project management. How do you keep projects moving along and ensure everyone working on the project is updated regularly? Using a cloud-based project management app, you can upload files, share due dates for deliverables, manage the workflow, keep track of project hours and discuss the project in a controlled and secure environment.

Try this: Many project management apps are available, but Microsoft Office Planner, Trello and Google Workspace are a few good options to consider.

Social media management.
As a small business owner, you know the value of social media marketing to connect with your customers. While all social media platforms have tools to help improve customer engagement, managing your social media with each app can be time-consuming and cumbersome. Instead, consider using a social media dashboard app, such as Hootsuite or Buffer. That way, you’ll have all your social media channels in one place. You can reply to customers, generate reports, monitor campaign performance and more.

Bonus: Get the tips you need to create a robust digital marketing strategy for your business.

Managing your small business from a mobile device may take time to get used to, but it is well worth the effort. You’ll find you’ll have more time to do the things you need to do in the day. And you’ll likely communicate more effectively (and more regularly) with customers and employees.