Financial Data
Updated 27 Sep 2020

Top 5 Business Tips for Cash Management Safety over the Holidays

Standard Bank provides successful cash management solution ahead of Easter holidays.

15 April 2014  Share  0 comments  Print

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Standard Bank, Africa’s largest bank by assets, with more than 30% market share in the personal and business banking segment, says clients must ensure that they have an effective cash management plan in place ahead of the coming Easter holidays to mitigate against potential risks at a time when increased spending by consumers is likely to result in higher turnover.

“You don’t want to take risks during the April and May public holidays, which is a very lucrative but stressful time of the year for many businesses, particularly those in the retail segment,” says Ravi Govender, Head of Small Enterprises at Standard Bank. “The good news is that you are able to simply leave the task to Standard Bank, who would like to be your cash manager partner of choice.” 

Standard Bank Business Banking, which is open to any corporate entity with a turnover of R150,000 or more, offers a full suite of cash management solutions to its clients, ranging from basic account, loan and overdraft facilities to a fully-fledged relationship management offering to provide advice and counsel on strategic business banking issues. In addition, Standard Bank is positioning itself as the leading provider of integrated cash management solutions and is able to offer clients an end-to-end service ranging from cash handling on site via its proprietary AutoSafe device, a cash in transit (CiT) service that includes the ability to collect, count and deposit a firm’s cash within two to four days from the time of collection, all supported by Standard Bank’s extensive cash centre, branch infrastructure and self-service infrastructure.

“We have established solid partnerships with all the seasoned practitioners in the cash in transit industry in order to remove the risk factor of cash management on behalf of our clients,” says Mr Govender. “As a leading financial services institution, we also have the advantage of being able to offer clients all the ancillary services synonymous with having a business banking account. These range from comprehensive insurance against possible theft of your cash, to cash processing and deposit services. These are of course complemented by the fact that clients can rest easy that the solidity of our balance sheet underpins our cash management offering to further ease any nerves about handing over your hard earned cash to a company you know you can trust.”

“The last thing any client wants over the holidays is a cash management debacle that results in financial harm to the business, harm to staff or customers, or even the loss of life,” says Mr Govender.  “By implementing a comprehensive cash management solution for your business, you can mitigate these risks and ensure that the holiday season is a time of prosperity and happiness.”

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