One lesson the coronavirus pandemic reinforced is that there are threats to business continuity beyond weather events. While many of us who live in coastal areas are accustomed to preparing for hurricanes and flooding, many other types of disruptive events, such as a cyber-attack, can temporarily bar the door to our workplaces.
A Business Continuity Plan (BCP) is designed to protect personnel and other assets and should be a standard part of your company's operating processes. Maintaining your business functions or quickly resuming them in the event of a disruption is vital for your company. Your BCP should outline procedures and instructions for every aspect of your operation.
Access to Daily Banking Capabilities is Critical
To efficiently run your operations in the event of a disruption, consider setting up remote access to your banking transactions and information. Remote access is as important for everyday efficiency as it is for your BCP in times of crisis. Hancock Whitney has valuable tools for accessing banking information electronically as well as various transaction capabilities.
Using convenient apps for iPhone, iPad and Android, you can manage accounts anywhere and anytime. Mobile banking gives you instant access to your accounts.
For instance, HW Treasury Manager clients can check balances, approve payments, make deposits, process transfers and loan transactions, and make Positive Pay decisions on checks and ACH transactions.
Accounts Receivable (A/R) Automation Solutions
Accounts receivable automated solutions add efficiency, reduce costs and accelerate cash flow in the best of times. However, in the midst of a disaster — when there’s even more of a focus on liquidity and cash flow —these solutions are critical. Many organizations are benefiting by using our online billing and payment services such as Biller Express Quick Pay, Bill Pay Direct Post and Lockbox Services.
Automate Your Accounts Payables
If you are still manually processing invoices and payments through checks, wires and ACH, who is in the office to approve and manage these payments in the aftermath of a disruption? It’s time to consider an ePayables solution. ePayables offer an alternative to issuing paper check payments for everything from everyday office purchases and business travel transactions to fleet expenses and vendor payments. Cards streamline the entire procure-to-pay process, automating many of the steps associated with using paper purchase orders to authorize payments and paper checks to distribute them.
Evaluate Your Plan for Banking
As part of your business continuity planning, talk to a Hancock Whitney banker or Treasury Services Specialist at 1-866-594-2304 or complete the form below to learn more about how our digital access solutions can help.