Bank of America Merrill Lynch has launched Cash Management Essentials, a suite of treasury management solutions specifically created to meet the needs of small business clients.
Cash Management Essentials is a subscription-based software service which according to the company will helps small companies in account management, payments, receivables, fraud protection and account information and reporting products.
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The system also includes supplemental wire, ACH and image lockbox packages for businesses.
Galen Robbins, head of global transaction services for global commercial banking, business banking and client development group, said: "Our small business clients and those with less complex treasury needs tell us they need the same treasury tools used by larger companies with low, simple pricing and a fast, easy and user-friendly on-boarding experience."
The Cash Management Essentials solutions are scalable and its products are accessible through CashPro Online.
This launch follows the release of the Bank of America Spring 2013 Small business owner report, a semi-annual study exploring the concerns, aspirations and perspectives of small business owners throughout the country.
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