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Your Bank > Education and Advice > CNB University

ACH Origination Services — Countless Benefits for your Business

S DiProjetto 2015
Susan DiProjetto is Senior Vice President - Sales Manager/Business Banking Unit and can be reached at SDiProjetto@CNBank.com or (585) 419-0670 x50614.

The goal of any successful business involves growth – that may mean increasing staff, your customer base or additional vendors to manage. Along with this success comes the need for efficiencies in handling company finances. Whether it’s a burgeoning or large-scale business, you can benefit from ACH Origination services. 

ACH Origination 

What is ACH Origination? ACH is a fairly common term and stands for Automated Clearing House, the electronic payment processing network for financial transactions within the United States. 

ACH Origination services provide businesses the opportunity to effectively manage their payables and receivables process. The inconvenience of dispersing payments via traditional paper check or manually coordinating complex payroll can be replaced with a faster, more secure electronic alternative. 

According to a survey conducted by Credit Research Foundation (CRF) in partnership with NACHA-The Electronic Payments Association, credit and account receivables professionals anticipate that ACH transactions will surpass checks as the leading form of payment received from business customers by 2020. Currently, checks account for almost 50 percent of payments (down from 63 percent in 2014); ACH 32 percent (up from 22 percent in 2014), cards 11 percent (up from 8 percent in 2014), and cash and wire 8 percent (up from 7 percent in 2014). 

By 2020, respondents anticipate that ACH will account for 45 percent of payments, checks 34 percent, cards 12.5 percent, and cash and wire 8.5 percent.* 

Faster than the Speed of Light 

The pace of sending and receiving funds continues to accelerate in the digital era. Today, employees and vendors expect a quick turnaround for receiving compensation. Often, companies must juggle multiple funding accounts and various payment timetables to numerous financial institutions — that can be chaos to organize. 

ACH Origination can help: 

  • Reduce administrative and other operating costs 
  • Improve cash flow and financial forecasting 
  • Deliver an intuitive and secure online experience 

CNB’s team approach includes dedicated technical specialists that will walk you and your staff through a detailed onsite training program along with continuous ACH Origination support.

How CNB Can Help

If you would like to discuss in more detail, I am available to answer any questions you may have. Please call me today at (585) 419-0670, ext. 50614 or SDiProjetto@CNBank.com.

*Source NACHA website NACHA.org. Article and survey posted June 26, 2017.