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Digital Insight Small Business FinanceWorks
Twenty-three million of the nation’s smallest businesses have fewer than five employees and remain underserved with the tools that exist today. In fact, many currently supplement “consumer” online banking with manual methods to conduct invoicing, payroll, taxes and payments. Why? Traditional Cash Management solutions seldom provide the simplicity and the focus in these specific tasks that many smallest businesses need.
Now more than ever, small businesses need tools to help them be more efficient and get paid faster. Financial institutions are in a unique position to provide small businesses with these services.
- Small businesses prefer online banking over any method (manual, desktop software, accountant) for managing their business finances.
- Yet only 14 percent of U.S. small businesses currently manage their cash flow using their bank’s cash management/business banking solution.
- The solution: Small Business FinanceWorks.
Digital Insight’s Small Business FinanceWorks is an integrated suite of easy-to-use tools delivered from a single destination — the online banking site.
Digital Insight combines rigorous research, observation and innovative design to offer solutions with revolutionary ease that create user delight and enthusiasm for online banking. Purposely designed to eliminate time consuming manual paperwork and processes and free up time from financial tasks, Small Business FinanceWorks is easy to use and allows owners to focus on running their business.
In today’s tough economic times, Small Business FinanceWorks helps financial institutions drive revenue even in the face of a difficult economy by enabling banks and credit unions to solve important financial work flows for small businesses.
Small Business FinanceWorks positions financial institutions as a trusted advisor, delivering the products and services that are vital to small business that are currently underserved. SBFW provides a small business the following services within the online banking session:
- Invoicing
- Payroll
- Payment processing
- Home scanner remote deposit
- Legal filings
As the institution’s website becomes the “hub” for a small business’s financial management and transaction activity, a bank or credit union can gain a competitive advantage, improved cross-selling ability, increased retention, and higher revenues per customer.
Combined with Digital Insight’s ability to provide completely outsourced online banking solutions at world-class levels of security, reliability and stability to mid-market institutions, SBFW represents one of the first pre-integrated solutions designed to serve small and micro-businesses independent of (or, in 2009, in combination with) the cash management platform.
Small Business FinanceWorks combines proven in-market assets from across Intuit with all the benefits from Digital Insight’s existing online banking platforms. Traditional Cash Management solutions seldom provide the simplicity and the focus in these specific tasks that small businesses need while consumer solutions under serve small businesses. Unlike current methods, Small Business FinanceWorks is targeted, easy-to-use and integrated.
How do we know?
Intuit brings 25 years of customer-driven innovation, where ease of use has been the mantra. Through in-depth research such as “follow-me-homes”, Intuit and Digital Insight are able to identify key pain points that people feel when they manage their finances or bank online. By developing solutions for these pain points, Digital Insight and Intuit are able to make it easier than ever for people to manage their finances online.
Digital Insight
www.digitalinsight.com