CIBC Business Toolkit – Grow and
Manage Your Business Online
Part 4: Manage Your Business Online
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Manage Your Business Online
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 Want
At 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
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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 Flow
CIBC 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
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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.
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.