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Aug 26, 201302:01 PMThe Bottom Line

with contributors from Associated Bank

Top 5 ways your banker can help consolidate your outside providers

(page 2 of 2)

International banking: Your bank can help support your global trade initiatives through international banking services that most often include letters of credit, export financing, wires, drafts, and daily foreign bank note rates.

Corporate credit or purchasing cards: Accessing these services through your bank can help you enhance purchasing power, control spending, and simplify recordkeeping.

Many banks market themselves as full financial services providers. These are convenient, value-added services that most banks now offer to help businesses obtain their goals and objectives. At the end of the day, your bank can help you consolidate outside providers, drive down costs, and increase your service levels. Additionally, your commercial banker can help eliminate time and effort in managing multiple outside vendors by providing the expertise and convenience so many businesses are searching for.

In all likelihood, your bank may have a high level of interest in helping you with these expanded services. And like many businesses, banks are able to provide more competitive pricing as you continue to expand the number of services you use. If you’re in the market to consolidate providers or are looking to potentially reduce costs and simplify processes, be sure to consult with your commercial banker on what more can be done.

Timothy Kotnour is senior vice president, business segment leader in commercial banking for Associated Bank in southwest Wisconsin.

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