A vendor calls you, claiming you haven't paid an invoice. You're certain you paid the bill. What do you do? In today's rapidly changing financial world, you have two choices: Hang up, call your bank and wait for an answer, or take Steve Camblin's approach.
"I had Jackie [Hill, the company bookkeeper,] get on the computer while [the vendor] was still on the phone, and we told him the check had cleared the bank on a particular day," recalls Camblin, president of Premier Roofing Inc., a Spring Valley, California, commercial and industrial roofing contractor. "As it turns out, the vendor had an employee who had embezzled our funds."
What enabled Camblin to quickly produce the needed information? His business utilizes online banking. Camblin and his staff have found the service indispensable and easy to use. "It's a timesaver," says Camblin. "If we're ever in doubt as to what our account balance is, Jackie can go online to see. I also do quite a bit of work on the weekends, and this gives me access to my accounts when the banks are closed."
Perhaps the best testament to how invaluable the service is to the 4-year-old firm is Camblin's attitude toward the system: "If the bank called me tomorrow and said it would cost $50 a month for the service, I would say `Fine.' "
BankOne, (614) 213-5677
Citibank, (800) 285-1709
NationsBank, (404) 607-5228
Premier Roofing Inc., 9054 Olive Dr., Spring Valley, CA 91977
Wells Fargo, (415) 222-3858