Bank of America Merrill Lynch, a leader in global transaction services, today announced the launch of Cash Management Essentials in North America, a suite of simple and affordable treasury management solutions specifically created to meet the needs of small business or companies with less complex treasury needs.

Cash Management Essentials offers clients a suite of treasury services most commonly used by larger commercial treasury departments at affordable, easy-to-understand monthly pricing. The baseline option of core treasury products includes account management, payments, receivables, fraud protection and account information and reporting products. Supplemental wire, ACH and image lockbox packages are available for businesses that perform a greater number of monthly payment transactions or need a more customized receivables solution.

"Our small business clients and those with less complex treasury needs tell us they need the same treasury tools used by larger companies with low, simple pricing and a fast, easy and user-friendly on-boarding experience," said Galen Robbins, head of Global Transaction Services for Global Commercial Banking, Business Banking and Client Development Group.  "Based on their feedback, we developed Cash Management Essentials to give them all they asked for – and more – to help them effectively run their business and manage their cash."

The solutions available through Cash Management Essentials are scalable, allowing growing businesses to add services easily to match their evolving needs. All Cash Management Essentials products are accessible through CashPro® Online.

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The focus of a growing number of corporate treasurers is on simplifying their operations and way of working. Some medium/large size businesses could be potential users of such services. Also this type of service is direct competition for the Kyriba and Bellin cloud based services.