Banks are changing their ways of working.
If your current bank client liaison manager is changed to a new Business Support Manager then the relationship with your bank has changedYou need to manage the hand over from the client relation manager to the new Business Support Manager as this will be a similar process to moving to a new bank.
The Business Support Manager is NOT there to help your business but to ensure that their investment in your company is safe. These managers have smaller portfolios so that they can monitor your performance more closely.
The new Business Support Manager will require increased reporting and probably at shorter time scale.
They will also look to shorten the funding cycles. So where your overdraft was agreed every two years it may well only be authorised every three months.
As they have fewer clients per manager their bank charges will be higher to pay for them.
If this happens you need to have a Finance Professional who can help you through the process.
We can help you in handholding you through the process.
We can prepare the information needed to negotiate with the bank.
We can help in putting in procedures to produce the extra required information in an efficient manner.
We can develop an information pack for communicating with the bank which will give them confidence so they will continue to fund your business.
If we can communicate with the banks effectively we can keep their intervention to a minimum and hence keep your banking costs under control.
For more information please contact Edward Tudor at email@example.com or call on 01483-453733