Save time for busy employees
HP EnviroVision is a full-service environmental remediation company headquartered in the Dallas-Fort Worth area. Most of the company's 110 employees work on job sites in the field, so the few headquarters staff members wear many hats. Controller Terri Shelton single-handedly performs all of the company's receivables, payables, and accounting functions while making sure the office runs smoothly. With multiple responsibilities, Shelton has no time to spare.
Trips to the bank to deposit check payments were wasting her time and slowing HP EnviroVision's cash flow. The nearest Wells Fargo banking store is a 20-minute drive each way. Add to that a wait in the commercial teller line, and a trip to the bank took an hour or more out of Shelton's day.
Ninety-five percent of the company's receivables are in the form of checks, and some of those checks are as large as a half million dollars. "If I had a big check we needed to cover payroll, I'd take it to the bank right away. But with smaller checks, I usually would wait two or three days until I had a few in my hand before taking them in," Shelton says. That all changed when Shelton discovered the Wells Fargo CEO Mobile deposit service.
On April 30, 2012, Shelton deposited her first check through the CEO Mobile deposit service. Since then, she has deposited all of the check payments HP EnviroVision has received through the service.
Today when checks come in, they go to the bank immediately, but she doesn't. "I log in, take a picture of the check with my iPhone, and make sure the image is approved. Then I log in to the CEO portal through my computer and print the deposit report, so I have a paper trail. It's a two or three minute process," she says.
The CEO Mobile deposit service offers speed, convenience, and an extended deposit window. The deposit cut-off time at most bank stores is 3:00 p.m. or 4:00 p.m. The cut-off time for CEO Mobile deposits is 9:00 p.m.
Trips to the bank are a thing of the past for Terri Shelton. "Unless I need cash, I don't go to the bank. I do it all through my phone, because it's just too convenient," says Shelton. "It definitely saves me a couple of hours a week plus gas money."
Two hours a week equals eight hours a month — a full work day that can be put to productive use. What could you accomplish if you had an extra day?