Deposit checks faster and improve cash flow
Speaker: Kevin Rusin
Chief Financial Officer, McKinley Equipment Corporation / McKinley Elevator Corporation – Irvine, CA
My name is Kevin Rusin. I'm the chief financial officer of both McKinley Equipment Corporation and McKinley Elevator Corporation.
McKinley Equipment and McKinley Elevator Corporations are both distributors, and we sell, install and service equipment in California, Arizona and Nevada.
Both McKinley Equipment and McKinley Elevator Corporations are headquartered in Irvine, California. We are a family-owned business that started in 1948, and we have about 100 employees.
As the chief financial officer, obviously I'm in charge of everything financial that runs through the company, which really basically means I'm running both businesses.
We started using CEO Mobile service because we were looking for a way to get checks in faster and get checks deposited into our account faster. We went to Wells Fargo and we said, "We need to deposit these checks from in the field all over California, Arizona and Nevada," and they said, "We have the solution of the CEO Mobile app, and you can actually deposit checks remotely in the field right into either one of your accounts."1
I use CEO Mobile in the office. If we have a one-off check, one of my employees, instead of logging in and actually running a check through the scanner, they'll just pick up their iPad or their iPhone and deposit the check.
Before we started using the CEO Mobile Deposit service, we actually had a big problem. We had a problem of checks floating around in three states. Now that we use CEO Mobile Deposit service, we do not have that problem any longer. The checks are deposited from the field, and the money is applied to the account. Every single one of my salesmen, installers and technicians is trained on how to use this very easy app to deposit a check.
I use CEO Mobile service for sure on an everyday basis. That's the first thing I do when I get up in the morning. I carry my iPad with me wherever I go, and if something needs to be addressed right there on the fly, I can do that, whether I'm in my office or not. It has actually changed the way that we do business.
The number one benefit of the CEO Mobile Deposit service is cash flow. My cash is put into the business every day, three, four, five times a day for McKinley.
I do not worry about security at all. I've been asked by a few people, "What do you think about using this remote deposit service?" And I let them know that I don't worry about that. Use the app, get your money in the bank, improve your cash flow, and then start focusing back on your customers.
1 Requires iOS version 6.1 or above or Android version 4.0 or above.
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