Bank of America Merrill Lynch has launched a cloud-based suite of cash management software designed for small businesses or companies with less-complex treasury needs. Powered by the bank's CashPro Online portal, Cash Management Essentials includes solutions for account management, payables, receivables, fraud protection, and account information and reporting. Supplemental wire, ACH, and image lockbox solutions are also available as add-ons.
A hosted solution, Cash Management Essentials is meant to provide common treasury functionality at an affordable and easy-to-understand monthly price.
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