Bank of America and Viewpost Free Small Businesses from Crippling Cash-Flow Bottleneck

August 24, 2016         By: Mike Dautner

Viewpost announced today a revolutionary initiative to transform the way small businesses view and manage their cash flow.

As it stands, small businesses are struggling with the real-time demands of a digital economy while being forced to rely on antiquated paper invoicing and payment methods that plight them with inaccuracy, inefficiency, cost and a lack of visibility into when and how much they’ll be paid.

In order to fix this problem, Viewpost has created a secure business network and has teamed up with Bank of America to ensure that the bank’s millions of small business customers can easily join the network to access the information and credit needed to effectively manage business finances via online platforms.

This is a major step forward in cost-saving development for small businesses. B of A estimates that the costs of processing a single business check range from $4 to $20. This estimate includes check stock, stamps, envelopes, and the time it takes to write, mail, collect and reconcile payments. What a pain! Bank of America wants to ease it.

“Bank of America and Viewpost are collaborating to help small businesses send and receive invoices and payments as easily as consumers now expect to share pictures and status updates,” said Max Eliscu, CEO, Viewpost.  “We’re bringing simplicity and visibility to the otherwise challenging and inefficient administration of finance.  Running a small business is difficult, so we believe that billing, payments and understanding cash flow shouldn’t be. Nor should accessing financial products and services, or applying for or obtaining financing from a bank. Viewpost’s integration with Bank of America reinforces our commitment to removing barriers so businesses can thrive. We look forward to bringing our capabilities to a much bigger audience, further accelerating growth already exceeding 150 percent quarter over quarter.”

“I was introduced to Viewpost through Bank of America online banking and signed up right away. I trust the bank’s endorsement,” said George White, Owner Operator, George White Productions. “I’ve been extremely impressed with all facets of Viewpost, from the ease of invoicing and receiving payment deposit right into my bank account to the responsiveness of customer support. I’m saving about $300 a month on invoicing alone. And now when I’m traveling, I won’t have checks waiting in my mailbox for my return.”