NewHavenBIZ

A ny business that expects to operate efficiently and experience growth and expansion must have a detailed, well-thought-out cash flow management system in place. In the past, this meant having a dedicated employee who focused solely on recording revenue and tracking spending, usually on paper. In today's high tech world, effectively managing cash flow has transitioned to an online system that provides access to cash, accurate tracking and routine updates to financial data. Webster Bank has earned a well-deserved reputation for offering a comprehensive portfolio of products that supports cash flow management for businesses in a variety of industries. In 2014, Eastern Connecticut Cardiology Associates, LLC called on Webster Bank to help the business create a better, more efficient way to manage its cash flow and track financial information, according to administrator Rachna Khanna. She explained that the business had been using a traditional system that required several man-hours on a daily basis and caused delays in depositing funds. "When checks came in, we had to fill out deposit slips and then drive to the bank. It was very time-consuming," she said. With the help of Annette Larabee, Webster Bank's relationship manager, and her team of experts, ECCA successfully transitioned to a new, more efficient system. Custom designed tools To ensure that the Bank provided the best option, Larabee brought in an experienced cash management team to evaluate ECCA's current system. "We discussed their goals and introduced products to help achieve those goals," she said. The team included industry specialists who worked together to create a custom-made system. | Rachna Khanna, administrator at Eastern Connecticut Cardiology Associates, LLC, sought a way to expedite financial transactions for the business and found the answer at Webster Bank. | PHOTOS | GARY LEWIS Sponsored Content WEBSTER BANK INTELLIGENCE SERIES Cash Flow Management: The Lifeblood of a Successful Business

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