I look forward to offering TermSync to First Business Bank clients on a preferred basis which allows the clients to open up a new channel of communication with their customers and accelerate the receivable process.
Madison, Wis. (PRWEB) March 15, 2012
TermSync, Inc., the first accounts receivable automation platform that ensures businesses get paid faster, today announced a referral arrangement with First Business Bank. As part of this referral arrangement, TermSync will offer its accounts receivable automation platform to First Business Bank clients on a preferred basis.
TermSync’s accounts receivable automation platform manages payment terms between vendors and their customers. The platform creates an automated, online dialog which makes it easier to maintain the existing, agreed upon payment terms and avoid the stress and expense of collection calls. Customers retain complete control and are allowed to delay or dispute a payment if needed simply by entering a reason. This approach has led to over 99 percent of transactions managed by TermSync to be paid on or before the due date, without collection calls. TermSync currently manages over 2,000 payment term relationships with clients and their customers.
“First Business Bank is committed to offering innovative technology solutions to our clients. TermSync’s service can help companies convert accounts receivable to cash faster. The solution is an efficient means to improve cash flow,” said Mark Meloy, president and chief executive officer of First Business Bank.
“We created the TermSync platform to help companies get paid faster, improve visibility and better manage cash flow, but done in a manner that is accepted by their customers, since they can delay or dispute a payment any time with just one click,” said Mark Wilson, chief executive officer of TermSync. “First Business Bank is known for their service and ability to provide innovative solutions to its clients. I look forward to offering TermSync to First Business Bank clients on a preferred basis which allows the clients to open up a new channel of communication with their customers and accelerate the receivable process.”
First Business Bank will host a series of educational lunch and learn sessions presented by TermSync, Inc. First Business Bank clients can contact their account manager for dates and locations.
About First Business Bank
First Business Bank is a subsidiary of First Business Financial Services, Inc. (Nasdaq:FBIZ) a $1.1 billion Wisconsin-based bank holding company that specializes in focused financial solutions for businesses, key executives, and high net worth individuals through its operating companies. It is the 2nd largest Wisconsin-based commercial bank holding company listed on NASDAQ or the NYSE. Its companies include: First Business Bank - Madison; First Business Bank - Milwaukee; First Business Bank - Northeast; First Business Trust & Investments; First Business Equipment Finance, LLC; and First Business Capital Corp. For additional information, visit http://www.firstbusiness.com or call (608) 238-8008.
TermSync, Inc. is an accounts receivable automation platform that ensures businesses get paid faster and receive more visibility from customers without having to make a collection call. Founder Mark Wilson, CPA, experienced firsthand the pains companies go through to get cash in the door while he served in various accounting leadership positions. In creating TermSync, Wilson set out to revolutionize the outdated payment terms process in a manner that is accepted by both businesses and their customers. TermSync is privately held and headquartered Madison, Wisconsin.