Part 4: Manage Your Business Online

CIBC Business Toolkit – Grow and Manage Your Business Online

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Beyond offering opportunities to grow your business, the internet can also be used in a number of ways to help you run your business better.

Managing a business is time consuming and often requires spending hours on activities that take your focus away from your clients and your business strategy. Just as Enterprise Resource Planning systems can help optimize operations and Customer Relationship Management tools create efficiencies around sales and service, using online and mobile banking solutions can help you streamline your financial activities – securely and conveniently – giving you more time to focus on achieving your business goals.

Manage Your Finances When, Where and How You WantAt CIBC, we offer innovative banking solutions to help make your business banking more convenient.

With CIBC Online Banking™, CIBC Mobile Banking™, CIBC Cash Management Online®, and CIBC Mobile Business®, you have your choice of convenient, secure and easy ways to conduct and manage your business banking.

CIBC Online Banking™

Your business can save time and money by banking online instead of going to a branch. Balance inquiries, transfers, bill payments – it’s up to you, any time of day or night.

CIBC Mobile Banking™

A better mobile banking experience allows you to manage your finances with ease, freeing up more time to enjoy what matters most. With CIBC Mobile BankingTM, you can complete everyday CIBC banking transactions quickly, easily and safely.

CIBC Cash Management Online® for Small Business

For growing or established businesses with needs that cannot be met by CIBC Online BankingTM, there is CIBC Cash Management Online® (CMO). CMO provides secure, 24/7 access to a comprehensive suite of online cash management products and reporting capabilities that allow business owners to make payments, view their balances, pay

Manage Your Business Online

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bills and get reports anytime it’s convenient for them. With CMO, small businesses can efficiently collect and distribute payments with an increasing number of employees, suppliers and clients – in Canada and around the globe.

CIBC Mobile Business®

CIBC Mobile Business® allows CMO users to remotely view balances and transaction information and perform key payment approval functions across a range of cash management products and services from their mobile device.

Save Time and Improve Cash FlowCIBC eDeposit® business solutions help you save time and improve cash flow by allowing you to securely deposit your cheques and cash into your account from the convenience of your office, store or remote business location.

CIBC eDeposit®

What do you do if it’s 6:30 in the evening before you finally get around to opening the day’s mail and you discover a cheque? Don’t wait until your next trip to the bank to deposit your cheque, use your mobile device to deposit the cheque as soon as you get it. A cheque in hand is now money in the bank the same day with CIBC eDeposit®.

CIBC eDeposit® for cheques

Businesses with more frequent or larger volume cheque deposits can use the CIBC eDeposit® for cheques online service to quickly scan, upload and deposit multiple cheques in a single transaction, using a desktop cheque scanner and CIBC’s online application. Text recognition technology reads your cheque images and pre-populates deposit information, saving you time preparing your deposits and reducing the frequency of your branch visits.

Deposits made before 7 p.m. ET on a business day are credited to your CIBC business account the same business day, providing faster access to your funds.

CIBC eDeposit® for cash

CIBC eDeposit® for cash, combined with a Brink’s CompuSafe®, delivers an innovative cash management solution that enables high cash volume businesses to improve cash

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handling, reduce operating costs and improve cash flow by electronically depositing your cash into your CIBC business account. Cash deposited into the CompuSafe® before 6 p.m. ET on a business day is credited to your CIBC business account the same business day, providing faster access to your cash.1

CIBC Merchant Services

Never miss an opportunity to complete a sale! CIBC Merchant Services can help you collect debit and credit card payments anytime, anywhere – in store, online and even remotely using a mobile device. Global Payments and Payfirma are CIBC’s preferred merchant services providers, supplying small businesses with comprehensive payment solutions and innovative payment products.2

Automate to Achieve Efficiencies Beyond the mere convenience of online and mobile access, online banking solutions can also improve efficiency by allowing you to automate work-intensive activities like managing payroll, collecting fees from your clients or paying suppliers.

Using CIBC Online Banking™ to pay bills with the click of a button, rather than issuing, tracking and mailing cheques can save you time, effort and money.

With CMO, you can achieve added efficiencies by setting up recurring electronic funds transfer (EFT) payments to employees to cover payroll or pay suppliers. And with the permission of your clients, you can efficiently collect payments directly from their accounts. This eliminates manual efforts for your clients and your employees, and reduces the risk of overdue payments.

Lessen the Risk of Fraud in Your Business In addition to the considerable manual effort involved, writing cheques represents a significant fraud risk for businesses. Each year, many businesses experience cheque fraud when criminals get their hands on cheques and either alter them, counterfeit

1 Same-day credit is provided only for CAD bills deposited through the automated bill counters. Credit is not provided for bills and coins held in the optional cash/coin dispenser. Coins, cheques and envelope deposits can also be dropped into the CompuSafe® however the value is not included in the same-day electronic deposit.

2 CIBC receives referral fees for each CIBC client it refers to Payfirma and Global Payments.

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them or forge endorsement signatures. Cheques carry a wealth of information about a business and are easily intercepted or stolen.

Online solutions available through CMO, such as Wire Payments, online payment, EFT and payroll solutions, offer companies more secure means of transacting business. In addition, CIBC fraud prevention tools such as Positive Pay and Account Reconciliation services can help identify irregular cheques and enable you to identify fraudulent activity early.

CIBC Positive Pay

CIBC Positive Pay service is an automated cheque-matching process that is designed to assist you in the timely identification of cheque fraud through the daily comparison of presented cheques to a list of issued cheques. Mismatched items are identified as suspect which can help to minimize the financial impact of fraud by early detection.

CIBC Account Reconciliation

Account reconciliation can be a very complex, costly and labour-intensive process. CIBC Account Reconciliation (AR) service can help you reconcile your bank statement to efficiently comply with financial reporting requirements and can improve corporate control by identifying errors faster through timely reconciliation.

Run your business your way CIBC Cash Management Solutions can help you take better control of your banking needs – giving you more time to focus on what matters to your business. Talk to your CIBC business advisor or call 1 866 992-7223 today.

® / ™ Trademark of CIBC.CompuSafe® is a trademark of Brink’s Network Incorporated. All other trademarks are owned by CIBC or related entities.