Small businesses drive almost 50 percent of US private-sector employment1 and contend with many of the same issues as big businesses, with far fewer resources. Operating in competitive markets with razor thin margins, many are struggling with a host of financial tasks, including managing cash-flow, collecting accounts receivables, forecasting future funds. Paying taxes represents a whole other ball of wax.
It’s not unusual for small businesses to rely on QuickBooks, Excel, or even paper-based approaches for managing business finances, but these businesses are desperate for more help. Due to gaps in bank solution portfolios, non-banking technology providers are answering the call with services like online and mobile payments, electronic invoicing and payments, cash flow forecasting, and account aggregation. To protect themselves from the threat of disintermediation, banks must evolve their product offerings and re-establish their trusted advisor status.
View this webinar on demand featuring a conversation between Yodlee’s Small Business Practice Manager, Greg Weddell, and Jacob Jegher, Research Director at Celent, a research and consulting firm focused on the application of information technology in the global financial services industry.
You will learn:
Why one-third of small businesses may be on the verge of shifting to non-bank solutions2
What small businesses need to help them manage their finances
How banks can help their small business customers organize and better manage their finances
How to leverage a comprehensive suite of digital financial products and services for small businesses that increase customer loyalty and drive revenue opportunities
It’s time to give your small business customers the power and tools they need so they can spend less time managing their business and more time growing it.