Within the span of a week, SoFi, Square, and Capital One each shared new developments and research for their small business clients. SoFi launched new loans, Square unveiled AI integrations, and Capital One published new research. The common thread across these announcements is competing to help small business owners save time by becoming a bigger part of their day-to-day operations.
Three companies, one focus area
SoFi’s new small business loans are designed around speed. Eligible businesses can check their eligibility in minutes and receive funding as soon as 24 hours after approval. The company is betting that access to capital should happen with the same ease as the personal financial products members already use. CEO Anthony Noto noted that entrepreneurs’ financial lives don’t stop at personal goals; they extend to the businesses they’re building.
Square is tackling another bottleneck: customer acquisition. Its new ChatGPT and Claude integrations help merchants appear inside AI-powered conversations, while its Alexa+ partnership extends that discovery into voice commerce. Instead of asking merchants to keep up with every emerging AI channel, Square wants to make sure they’re present wherever customers are making purchasing decisions.
Capital One’s latest research ties these ideas together, examining how small businesses are navigating today’s economy and why integrated financial tools are becoming increasingly central to their growth. More than 75% of small business owners say they’re confident in their ability to grow, while 69% believe they’re already positioned for expansion. Yet nearly three-quarters say fragmented financial systems make it difficult to manage and predict cash flow. According to Shena Ashley, president of Capital One’s Insights Center, today’s entrepreneurs are increasingly looking for integrated financial tools that give them greater visibility and control over their businesses.
Time is becoming the competitive advantage
The three announcements tackle different problems, but they’re chasing the same outcome.
SoFi reduces the time it takes to access capital. Square reduces the effort required to acquire customers. Capital One argues that integrated financial tools reduce the administrative burden of running a business.
That’s an ongoing evolution in how financial services in the SMB space are being positioned. Banks and fintechs are moving beyond standalone products. toward operating systems that combine financing, payments, customer acquisition, and financial management into a single workflow.
The next employee isn’t human
Increasingly, that’s what the next employee looks like: a financial platform that handles more of the operational workload, giving business owners more time to focus on customers, growth, and the decisions only they can make.
SMB software solved workflows but created operational sprawl
Small businesses digitize workforce management one tool at a time: payroll software, HR systems, scheduling apps, hiring platforms, benefits tools.
The result is fragmentation. According to Intuit, SMBs now manage between 7 and 25 business applications, spending roughly $120,000 annually on software. But the larger cost is operational: duplicated data, manual reconciliation, disconnected approvals, and fragmented workflows.
“The business owner is still the one doing the connecting,” said Olivier Bartholot, VP of Product Management for Workforce Solutions at Intuit.
That’s the problem Intuit is targeting with its recent launch of QuickBooks Workforce. The firm is trying to remove the business owner from acting as the integration layer between disconnected systems.
Intuit is merging workforce data with financial context
QuickBooks Workforce sits directly inside QuickBooks, which means payroll, workforce activity, accounting, cash flow, invoicing, and expenses now exist inside the same system.
That changes what the software can do. A traditional payroll platform reports staffing costs after the fact. An integrated workforce-financial system can identify margin pressure, overtime risk, or staffing inefficiencies before payroll even closes.
This also changes how Intuit’s acquisition of GoCo last year should be viewed. What initially looked like an HR expansion was, in fact, a broader infrastructure consolidation play. Bartholot described the acquisition as a way to connect workforce and financial data “without an API sitting between them.”
Integrations move data between systems, while unified architectures create operational awareness.
The bigger AI play is orchestration
Coordination is the most important aspect of QuickBooks Workforce.
The platform automates payroll prep, validates time tracking, syncs onboarding workflows, and flags inconsistencies before payroll runs. But the larger ambition is to coordinate operational decisions continuously across the business.
The industry spent years building digital tools for every workflow of SMBs. Now it is trying to reconnect the systems and processes that became fragmented along the way.
Small businesses (SMBs) digitize HR the same way they digitize everything else: one tool at a time.
Every workforce function lives in a different piece of software: payroll, benefits, hiring, time tracking, reviews. The result is not modernization so much as operational sprawl with a patchwork of dashboards, exports, approvals, spreadsheets, and duplicated employee data accumulating beneath the surface of ‘digitization’.
As a result, workforce management becomes more software-driven while simultaneously becoming harder to manage.
That fragmentation is the problem Intuit is aiming to solve with the launch of QuickBooks Workforce, its new AI-native, end-to-end human capital management platform embedded directly into QuickBooks.
“The launch of QuickBooks Workforce marks the most significant evolution of Intuit’s human capital management capabilities since QuickBooks Online debuted 25 years ago,” said David Hahn, EVP, GM, Services Group at Intuit, in the press release.
The real problem is operational fragmentation
SMB workforce management software has evolved horizontally. Companies bought specialized tools for recruiting, onboarding, compliance, scheduling, payroll, benefits, time tracking, and performance management. Each solved a narrow workflow well enough. But together, they created a coordination problem.
Small business banking has always had a structural problem — the companies that hold your money and the companies that build your financial software have been two different things. One moves the money, the other tracks it, and small business owners are stuck in the gap between them. A new generation of fintechs has been trying to fix that, but most are still building horizontal tools for every business everywhere. The more interesting bet is vertical — going deep into the specific workflows of a particular industry and automating them completely.
My guest today is Victor Cardenas, co-founder and CEO of Slash, a business banking platform that started with teenage sneaker resellers and has grown into a $1.4 billion company by doing exactly that — building industry-specific financial products that legacy banks will never prioritize. Slash processes nearly $3 billion in stablecoin payment volume annually, and the company has been doing serious work rethinking how AI fits into both how they operate internally and what their customers experience.
Top-line Takeaway: It wasn’t long ago that fintechs were regularly raising nine-figure rounds. Those days are gone, which is exactly why Slash’s $100 million Series C is worth paying attention to. The company competes in SMB banking – a space oddly competitive but also so large and complex that most clients still aren’t getting all the help they need.
Slash bets that the company holding your bank account should own both the account and the software and that the real opportunity isn’t in building another horizontal tool for every business everywhere, but in going deep into specific industries and automating the workflows that no bank has ever bothered to build. Performance marketing agencies, import-export businesses, and other niches where the status quo is genuinely painful, and the incumbents have little interest in fixing it. CEO Victor Cardenas’s aspiration for Slash is for it to become the J.P. Morgan for SMBs, which is either an audacious vision or a useful shorthand for “we’re not stopping at niche.” Probably worth watching which one it turns out to be.
Read the whole transcript (for TS Pro subscribers)
Introducing our new ‘Letter from the Editor’ series featuring exclusive insight and opinion-driven analysis from Tearsheet editor Sara Khairi.The focus is to link ideas, question assumptions, and track shifts across both mature and emerging trends in financial services.
This will soon be PRO-exclusive content. Subscribe to PRO so you don’t miss out on future exclusives.
Issue # 2
I see one theme repeating itself across SMB finance.
Every product roadmap, every funding announcement, every platform expansion seems to be moving in the same direction: more tools, more automation, more integration, more intelligence layered on top of already complex systems. In many ways, it is progress. Small business owners today can do things that were unthinkable a decade ago, like move money instantly, access working capital faster, automate bookkeeping, run payroll in a few clicks, and even forecast cash flow with a level of precision once reserved for enterprise finance teams.
But when you listen to SMB owners describe their day, it starts to sound like a constant juggling act. They don’t struggle to operate because they lack tools; they struggle because the tools don’t agree with each other, don’t speak the same language, and rarely show up at the moment a decision is actually being made.
It’s interesting to see how similar this feels to the dynamic we explored in last week’s Letter from the Editor around Gen Z and money. There, too, the unavailability of tools wasn’t the issue. The system struggles to explain itself in a way that feels coherent, timely, or aligned with how younger users experience money, which is messy, fragmented, and non-linear.
When it comes to SMBs, fintechs came in and did what fintechs do best: they unbundled, optimized, and digitized. But somewhere in that optimization wave, context got fragmented further. We built tools that work beautifully in isolation, and then asked business owners to become the integration and coordination layer. That’s not working anymore.
And the industry, almost everywhere you look, is converging on the same realization: SMB finance is shifting from an access problem to a coordination problem. The constraint is no longer product availability but cognitive overload. This means SMBs don’t need more dashboards but fewer moments of uncertainty.
We solved for availability: capital is easier to access, banking is more digital, onboarding is smoother, and tools are more connected than ever. But we haven’t fully solved for the experience of holding it all together.
This is why the shift toward AI agents in SMB finance is now becoming a structural correction.
The first shift: AI agents in SMB finance
Look at Intuit. Inside QuickBooks, a more coordinated layer of AI agents is taking shape across payments, accounting, and customer operations. The language of automation almost undersells it.
The significance isn’t in their ability to classify transactions or send reminders. It’s in their shift into the workflow where decisions are formed, not just logged after the fact. A late invoice is no longer just a data point. It becomes a branching set of options: nudge, escalate, adjust, wait. A payroll run isn’t just processing; it’s validation, correction, and timing, handled continuously rather than episodically.
The underlying design idea across these systems is that AI absorbs fragmentation, freeing business owners to think clearly.
We’ve seen similar thinking surface in Intuit’s expansion beyond accounting into HR, payroll, and workforce tools like QuickBooks Workforce, a signal that financial operations and people operations are no longer separable at the edges of small business life. When you’re running a 12-person company, payroll is a cash flow event, a retention strategy, a compliance risk – all at once. And yet, historically, we’ve forced SMBs to stitch this together across 7 to 25 tools, each solving a sliver of the problem while adding a new layer of coordination burden.
That’s the first shift: from tools to systems. The second shift is more interesting and more uncomfortable for incumbents. It’s the transition from ownership of products to orchestration of decisions.
The second shift: Ownership to orchestration
Look at how embedded finance is evolving. Intuit and Affirm bring financing directly into QuickBooks, shifting the decision to the moment an invoice is issued, where hesitation can immediately turn into friction and potential lost revenue.
In other words, the product stops being something you use and becomes something that intervenes or merges into infrastructure.
Banks, too, are converging on this idea, albeit from a different angle. Bank of America is trying to become the connective tissue between cash flow risk and workforce stability, linking cash flow forecasting, FX tools, and even employee benefits into a single operating environment. Meanwhile, super-regionals like U.S. Bank are building toward integration as a strategy: payments, payroll, and reconciliation stitched into a unified system that mirrors how SMBs actually experience money in motion.
This puts the SMB problem into a clearer perspective and reinforces that SMB banking is not a product portfolio problem but a continuity problem.
And continuity, unlike products, doesn’t scale easily. So, what fills the gap? Increasingly, it’s AI – not merely as a prediction or automation tool, as it has traditionally been perceived, but as a coordination layer.
This evolution is now reaching adjacent ecosystems, as well. Payment firms like American Express are investing in AI upskilling for SMBs to ease the tech adoption bottleneck.
And on the ground, SMB-focused firms like Bluevine and Hello Alice are approaching the same problem from another direction by reducing operational and capital friction so that small businesses can stay focused on time.
Time is, increasingly, the real currency here: time between decisions, time lost in reconciliation, time spent switching systems that don’t agree with each other.
Which brings us to the part we as an industry often keep circling back to. We describe SMB finance as underserved. That’s not entirely wrong, but it’s an incomplete idea. A more precise statement is that SMB finance has been over-instrumented and under-orchestrated.
We have given small businesses more ways to transact, borrow, forecast, insure, and manage, but very little help in connecting those actions into a coherent day-to-day operating rhythm.
And so what we’re seeing now is not just digitization 2.0 or AI adoption at the edge. It’s a slow redefinition of what financial infrastructure actually means in this landscape. From a stack of tools to a system of decisions, from interfaces to embedded context, and from standalone products to workflows that can think.
There’s a temptation in moments like this to call it a ‘transformation’. But I think that POV glosses over the tension that still exists in the system.
Because every step toward integration raises a counter-question: how much control should be automated before individual judgment starts to blur?
SMBs are not passive recipients of optimization. They are constant negotiators of risk, timing, and survival. The best systems emerging in this space won’t try to remove that negotiation, but they will try to make it less noisy.
And that is the bar we should care about: not how embedded or automated SMB finance gets, but whether it helps business owners see their next step more clearly. Everything else is just infrastructure catching up.
– Sara
[This will soon be PRO-exclusive content. Subscribe to PRO so you don’t miss out on future exclusives.]
The fintech industry has spent the better part of the last two years racing to add AI to its products. Chatbots have been bolted onto banking dashboards. Summaries have been appended to transaction histories. Assistants have materialized inside apps that users open, at best, once a week. Liran Zelkha, co-founder and Chief Technology Officer of Lili, a financial platform built for small business owners, thinks most of this activity is pointed in the wrong direction. Zelkha has spent years thinking carefully about the relationship between technology and small business owners: customers who are skilled at their craft, pressed for time, and rarely interested in learning a new interface. This customer profile has shaped the architecture of Lili from the beginning, and it informs Zelkha’s view of where AI in finance could genuinely move the needle: The goal is not a better in-app AI experience. The goal is to make a company’s financial capabilities available through whatever AI the customer has already chosen to trust. “The business owner shouldn’t have to learn our app to get value from us,” Zelkha says. “They should be able to ask their AI companion about their cash flow and get a real answer, backed by Lili.” …
For years, fintech competed by building better products. Now it’s competing for something more valuable: control of the moment when a financial decision is made.
The recent Intuit-Affirm partnership offers a clear window into this shift. By embedding Affirm’s pay-over-time directly into QuickBooks invoices, the companies are transforming the accounting software into a decision layer, enabling financial actions directly within the workflow.
Intuit’s QuickBooks as a platform for action
Intuit has been transforming itself from a bookkeeping and tax software company into a full-spectrum financial operating system for small and midsize businesses (SMBs). Through strategic acquisitions like GoCo, which adds HR and compliance capabilities, and Deserve, which brings mobile-first credit card infrastructure, Intuit has expanded its platform beyond ledgers and payroll into a broader ecosystem. These moves have allowed the company to embed financial services directly into workflows, creating a sticky, end-to-end environment that SMBs rely on to run their businesses.
The Affirm partnership represents the next stage in this strategy’s evolution.
“We’re continuously evolving our overall Intuit platform to provide businesses and consumers with a seamless way to manage their money and fuel their financial success,” said David Hahn, Executive Vice President and GM of Intuit’s Services Group.
“The fintech solutions we’ve embedded in QuickBooks are a key part of this strategy, and adding Buy Now, Pay Later (BNPL) capabilities through our partnership with Affirm is a natural progression of the work we’ve done to provide businesses with a solution that allows them to view, manage, and take action on their finances in one central place,” he added.
David Hahn, Executive Vice President, General Manager, Services Group at Intuit
Embedded directly into QuickBooks Payments, Affirm allows QuickBooks customers to split an invoice into installments while the business gets paid upfront. For small businesses, that difference is critical: they can optimize cash flow and sales as they happen.
Owning the “Moment of Decision”
QuickBooks acts as both the distribution layer and the decision point when an invoice is issued.
Although every company is becoming a fintech now, Wix didn’t set out to do so – the firm’s entry into financial services started from observing what millions of small business owners actually needed when building their online presence. For Amit Sagiv and Volodymyr Tsukur, co-heads of payments at Wix, the path to serving these SMB customers well was paved through financial products: Wix had to take the payment infrastructure it had built for itself and transform it into tools that could help merchants manage their businesses.
The foundation was already there. Wix had developed sophisticated billing systems to support its freemium model, accumulating deep expertise in payment routing, risk management, and global processing. “We built tremendous payment capabilities,” Sagiv explained. “The billing manager of Wix wanted to take that offering and build a service for our users.”
What started as a small project evolved into a comprehensive financial platform serving businesses across the globe. The company now processes over $3 billion per quarter with a team of 160 people, covering payments, checking accounts, and capital lending.
Listen to the podcast to hear how a chance collaboration between Wix’s billing team and gateway developers turned into a fintech operation processing billions quarterly. Sagiv and Tsukur discuss why they deliberately avoided becoming a full-fledged bank, and how website data reveals creditworthiness before transaction history does. It’s a conversation that dives deep into what it means to be serving SMB customers digitally and how firms can do embedded finance right.
On a late summer morning in New York City, industry leaders gathered at Mastercard’s Innovation Hub for Tearsheet’s flagship The Big Bank Theory Conference 2024. The event this year was dedicated to exploring the future of small business support in the financial sector. Attendees, ranging from fintech startups to established banking incumbents, anticipated insights from some of the most influential voices in the field.
Setting the Stage: The Global Impact of Small Businesses
Kicking the day off was Salah Goss, Senior Vice President for Social Impact at MasterCard’s Center for Inclusive Growth. Goss began by painting a vivid picture of the small business landscape worldwide.
Salah Goss, Senior Vice President for Social Impact, MasterCard
“Imagine a world without small businesses,” Goss challenged the audience. “It’s almost impossible, isn’t it? That’s because small businesses make up 90% of businesses and 50% of employment worldwide. In the US alone, they account for 50% of the GDP.”
Goss went on to introduce MasterCard’s “Strive” program, a global initiative designed to support small businesses through three key pillars:
Access to credit
Access to digital tools and digitization
Access to networks and know-how
She shared an inspiring success story that brought these pillars to life. “Let me tell you about Brian,” Goss said. “She’s an urban farmer in Watts, a community in LA, where we support an organization called Think Watts. Through our digital payment tools and analytics, She could suddenly see which plants her local farmers’ market preferred – indoor houseplants or outdoor flowers. Brian’s sales skyrocketed by 70%. That’s the power of digitization for small businesses.”
Goss continued, “In Strive USA alone, we’ve already helped partners unlock about $44.2 billion in affordable credit to small businesses. But we’re not stopping there.”
Beyond the goods and services SMBs offer they often also function as community hubs. Critically, SMBs provide jobs and fuel for their local economic engines; just under half of private sector employees are employed by one of the 34,000,000-plus SMBs in the US.
While every business is unique, there are some common challenges— concerns around tracking, forecasting, and understanding cashflow, for example. Time is another: SMB owners and managers wear so many hats, from selling a product or service to often serving as a one-person HR department.
“Running a small business is hard and owners are looking for help. Frequently, they’re turning to the partners they already trust, like their banks, to help solve these pain points. As our co-founder and CPO, Tomer London, likes to say, ‘There’s never been a better time to build tools for SMBs.’ Banks have an incredible opportunity to do just that,” said Yi Liu, General Manager of Gusto Embedded.
The Art of Partnership: A Banker’s Perspective
Mark Valentino, President of Business Banking at Citizens Bank took the stage, dressed in what he jokingly referred to as his “banker’s uniform.”
Mark Valentino, President of Business Banking, Citizens Bank
“I was told to give a TED-style talk,” he quipped, “but I don’t own any turtlenecks, so you’ll have to settle for this suit.” The room broke out in laughter, creating a warm atmosphere for his insights on the importance of partnerships and integration in small business banking.
He outlined three key principles, emphasizing the importance of understanding small business needs. “We call it the guiding North Star,” he explained.
Truly understanding the needs of small businesses. Are you solving the right problems? “Because let me tell you, we’ve all been guilty of rolling out great ideas that solved the wrong problem.” Valentino emphasized that it is critical to identify customers’ pain points accurately, and not just roll out great ideas that don’t address their actual needs.
Integration and creating seamless, frictionless experiences for customers. He discussed the importance of integrating solutions within the Citizens ecosystem so customers don’t have to juggle multiple applications. “Everything we’re doing at Citizens is about integration. We want [our business customers] to live in there and be able to do everything, whether it’s their payroll, payments, or their invoicing needs. We want them to be able to interact with their customers and their vendors all in one sign on,” he said.
Fostering a culture of growth, not just for Citizens’ own profitability, but for helping small business customers grow and succeed. He gave examples of partnerships like Mastercard Digital Doors, which offers marketing and financial tools to small businesses, and Luminary, a gender inclusive, global professional education and networking platform created to address the systemic challenges impacting women and our allies across all industries and sectors.
The banker painted a vivid picture of the typical small business owner’s challenges. “Picture this,” he said, gesturing to the audience. “An electrical contractor in Boston, a minority-owned consulting firm in New Jersey, and a veteran-owned orthopedic treatment center in New Hampshire. What do they have in common? They’re all going up against larger competitors, struggling to hire and retain employees, and they’re all super stressed out. They’re short on time and long on problems.”
To aid SMBs get things done fast one way is to consolidate tools. “Time-strapped SMB owners increasingly seek integrated solutions to solve their business’s needs. That’s why there is traction among banks looking to offer additional value-added services to their SMB customers, whether payroll, point-of-sale solutions, or invoicing services,” said Liu.
The Digital Revolution in SMB Payments
As the event progressed, Chris Ward, head of enterprise payments at Truist, took the stage to discuss the evolving world of small business payments. Ward introduced what he called the “3S’s of the economy”: Simplicity, Speed, and Safety.
“Think about the last time you ordered something on Amazon,” Ward challenged the audience. “Did you need someone to come to your house and teach you how to do it? Of course not! That’s the level of simplicity we need to strive for in financial services.”
Chris Ward, Head of Enterprise Payments, Truist
Ward delved into the persistent use of checks in small business transactions. “You’d think after the pandemic, everyone would have abandoned checks,” he mused. “But here’s the kicker – check volume in B2B transactions is still growing!”
This revelation led to a fascinating discussion on fraud risks associated with checks. Ward shared an anecdote about his daughter, who also works in the payments industry. “She’s always joking with me about her smaller customers,” Ward chuckled. “I can’t believe these customers don’t use Positive Pay,’ she says. It’s a family affair in payments, folks!”
Cash is still king for SMBs
Scott Beyer, Head of Business Banking Digital Experience at US Bank, presented on the changing payment and cash flow needs of small and mid-sized businesses (SMBs). He highlighted how these needs are driving SMBs to adopt new technologies, and how financial institutions (FIs) can simplify the complex ecosystems SMBs operate in.
Scott Beyer, Head of Business Banking Digital Experience, US Bank
He discussed findings from a recent US Bank survey, which revealed that 87% of small businesses remain optimistic about their future, despite challenges such as inflation and talent shortages. Small business owners are eager to adopt technology that helps streamline operations, but they seek solutions that save time and allow them to focus on running their businesses rather than managing financial processes.
Beyer identified three critical areas for FIs to focus on:
Availability of Digital Products: Ensure banking products are easily accessible and digitally available, enhancing convenience for small business customers. Integration of Services: Build seamless internal and external integrations to simplify business banking, payments, and other operations for clients. Data Harmonization: Align and consolidate fragmented data to deliver personalized insights and streamline financial management for small businesses.
Beyer concluded by urging banks to prioritize investment in infrastructure and data integration to create a more connected banking, payments, and software ecosystem that better serves SMBs.
When conceptualizing what their software ecosystem is going to offer to their SMB clients, banks need to consider the biggest pain points for these customers. “Running payroll for 300k+ SMBs has taught us a few lessons about SMB cashflow. Many customers tell us payroll is their largest regular expense. And meeting payroll each week — will they have the funds, will payments from customers clear in time, do they need to access a line of credit — can be a source of stress. However, banks also have visibility into the revenue side of an SMB business and are in a unique position to offer payment options and digital tools that help SMBs better understand, manage, and forecast their end-to-end cashflow,” said Liu.
Embracing the Future: AI and Beyond
The event included a look toward the future with a discussion on emerging technologies. Goss shared MasterCard’s latest innovation – an AI-driven chatbot for small businesses.
“But here’s what makes it special,” Goss explained. “It’s inclusive. When business owners from underrepresented communities ask a question, the response reflects their unique experiences and needs. It’s not just a chatbot; it’s a digital ally that truly understands them.”
After the day’s speakers and three closed-door working groups exploring SMB issues in depth, it was time for networking before calling it a day. This year’s The Big Bank Theory was a catalyst for change, intimating a new era of empowerment for small businesses in the digital age. As one attendee was overheard saying, “This isn’t the end of the conversation. It’s just the beginning.”
In a recent podcast episode, I had the pleasure of speaking with Jameson Troutman, Head of Product at Chase for Business. With over 20 years of experience in financial services, Jameson shared valuable insights into the current state of small and medium-sized businesses (SMBs) in the U.S. and the innovative solutions Chase is offering to support them.
As Jameson puts it, “Small businesses in general are optimistic. They love supporting their customers and have a strong belief in their ability to power through any challenges.” This optimism is crucial, especially as SMBs navigate macroeconomic challenges such as inflation and cash flow management.
The current state of SMBs in the U.S.
Jameson emphasizes that despite economic challenges, the overall sentiment among small businesses remains positive. “We survey about 500 small businesses on a regular basis every month,” he explains. The data reveals that while 63% of SMBs are feeling the impact of macroeconomic forces like inflation and cash flow issues, they remain confident about their growth prospects. This optimism is fueled by their passion and creativity in overcoming daily challenges.
Addressing SMB’s cash flow challenges
One of the perennial issues for SMBs is managing cash flow. Jameson highlights that Chase is actively working to provide solutions that help businesses manage their receivables and payables more efficiently. “We’re bringing out new invoicing solutions and additional abilities to get paid faster through some of our real-time payments capabilities,” he shares. These innovations are designed to help SMBs maintain a healthy cash flow, which is critical in today’s economic environment.
Innovative payment solutions
Chase has recently launched several new capabilities aimed at simplifying financial operations for SMBs. One such solution is the faster payments capability, which allows businesses to choose how quickly they want their payments to be processed. “The flexibility gives them a lot of control,” Jameson notes. This feature helps SMBs manage their cash flow more effectively and can even provide preferential treatment from suppliers due to immediate payment options.
Enhanced invoicing capabilities for SMBs
Chase’s new invoicing capability is another new impactful product for Chase clients. This tool allows business owners to create, customize, and send invoices directly from their digital experience. “It saves them time because they don’t have to do manual reconciliation,” Jameson explains. The system supports multiple payment methods and auto-reconciles transactions, streamlining the entire invoicing process and improving cash flow management.
Leveraging customer insights
To help SMBs grow and drive revenue, Chase is launching a new data-driven product called Customer Insights. This tool provides anonymized transaction data to help businesses understand sales patterns and customer behavior. “It allows them to figure out how they tighten and get smarter about their marketing dollars,” Jameson says. This valuable data helps businesses make informed decisions about staffing, marketing, and other operational aspects.
The big ideas
Small businesses remain optimistic despite economic challenges. “They love supporting their customers and have a strong belief in their ability to power through any challenges.”
Chase is introducing solutions like faster payments and new invoicing capabilities to help SMBs manage their cash flow better.“We’re bringing out new invoicing solutions and additional abilities to get paid faster.”
The faster payments capability offers SMBs flexibility in managing their transactions, providing control and potential benefits from suppliers.“The flexibility gives them a lot of control.”.
The new invoicing tool simplifies the invoicing process, supporting multiple payment methods and auto-reconciliation. “It saves them time because they don’t have to do manual reconciliation.”
The Customer Insights product leverages anonymized transaction data to help SMBs make informed decisions and drive revenue. “It allows them to figure out how they tighten and get smarter about their marketing dollars.”
