Though it may seem simple – money coming in and money going out – cash flow can be difficult to keep track of. Depending on the type of business, there could be hundreds of transactions a day happening: customer purchases, payments to vendors and routine bills. With so much money potentially coming in and going out each day, keeping track of a business’s daily cash flow is a critical part of keeping the business solvent and profitable.

According to Zak, the best cash flow management strategy is to make things as simple and efficient as possible. Managing cash flow should be done daily, but it’s best if it can be done efficiently and with little impact on the business owner’s busy schedule. And that’s where leveraging the relationship you have with your banker can really help, because they can help you identify banking products and solutions to simplify the process, giving you more time to spend doing what you love. 

Financial Cents features bankers from around National Bank of Arizona using their knowledge and experience to offer the kinds of insights and strategies that individuals and businesses could only get if they had a friend in the business.