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American Banker: Small Businesses Seek Better Cash Flow Tools from Their Banks

October 17, 2012

The typical small business owner is not getting
the automated help with accounting and cash flow that he could be
getting from his bank, a survey released Monday shows.

In small
businesses, "Cash is king. You've got to stretch out payables, pull in
receivables, and you can't really do that with a lot of the processes
that are out there today," says Rene Lacerte, founder and CEO of, Palo Alto, Calif., the online bill payment company that
sponsored the survey.

"I'm a serial entrepreneur, this is the
second company I've started; I grew up in a family of entrepreneurs," he
says. At his previous startup, Paycycle (which was bought by Intuit),
"The problem I faced is there's a tremendous amount of juggling, all the
details need to be looked after to make sure the payments have
happened." On the payables side, the small business person has to figure
out the terms of contracts, sign and mail checks, track approvals and
so on. On the receivables side, she has to figure out what's in the
customer contract, if the customer has paid a bill, if he's even seen
the bill, and if he hasn't paid the bill, why not.

Read more here.


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