Banking Matters     with Danske Bank

Banking for the future

By Katherine James, Head of Small Business, Danske Bank

As leaders and managers we are tasked with running our businesses in the most effective way possible – maximising efficiency, maintaining a tight control over cashflow and, ultimately, growing turnover and profit. 
 
Embracing more modern and efficient ways to manage business finances is an increasingly important aspect of this.  Cash management for example, takes on a whole new importance in a climate likes today’s.  Customer behaviours are changing too – we have moved away from a cheque based culture to a world in which 70% of consumers have made a transaction online.

Running your own business can be very satisfying, but it can also take up a lot of time focusing on administrative tasks rather than the things that will help you grow your business, like meeting your customers.

At Danske Bank a major focus for us is supporting business customers to make the most of modern banking services to operate their banking both efficiently and cost effectively, from automated payments and accepting payments by card to mobile and online banking.  Our business customers can monitor their business and make payments or transfers  wherever and whenever they need to.  They can also receive regular text or email notifications of different events such as balance alerts or if a payment has not been processed as planned.

These are all tools which can really benefit small businesses.  But we know growing a successful business isn’t just about using the latest technology.  In order to achieve long-term, sustainable economic growth Northern Ireland’s small businesses may need to consider strategies such as diversification, selling their products or services abroad or enhancing their product or service offering through innovation and R&D or selling online.  Good advice is essential we can provide this expert business advice when our customers need it.

Equipping small business owners with the knowledge and confidence to take the next step in their business, and the skills to maintain an efficient, strong cashflow business, will play a crucial role in leading Northern Ireland along the road to economic recovery.

Katherine James
Head of Small Business, Danske Bank
T: 028 9004 9303
E: katherine.james@danskebank.co.uk

The content of this section is provided for information purposes and does not constitute professional or other advice