Best practices for better business

Improve your business growth and profit margins by increasing efficiency and protecting against fraud.

Business efficiency and best practices resources from Webster Bank

Get to know your business (again and again)

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Don't wait until you're in the red before you start looking at cutting costs. The most successful enterprises make it a priority to measure efficiency and align with industry best practices on a regular basis. Consider the following: 

  • Staffing. Assess your current workforce, identify strengths and weaknesses, and create a long term staffing plan that aligns with your business goals. 
  • Vendor relations. Choose your vendors and negotiate contracts carefully, and then monitor performance and maintain open lines of communication to foster a healthy relationship.
  • Supply chains. Leverage staffing and technology to manage your supply chains effectively, and reduce costs, improve collaboration and promote social responsibility. 
  • Cash flow. Understand and monitor your cash flow, using projections related to sales and expenses to better inform your budget and performance.

Business insights and expertise

Business Banking Insights

Finding the next client

Seeing your name in lights on Broadway is one way to let people know you “have arrived.” Same thing in business. Top of mind awareness is critical to gain maximum exposure and help ensure long term survival.
Business Banking Insights

Keeping your business relevant in changing times

Change happens quickly in the business world, and to remain competitive, you must embrace it. To keep up, your business needs to be equipped to handle obstacles as they come your way.
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Co-working for new small business owners

In the age before technology, the local coffee shop served as a central gathering place for a diverse group of business owners and professionals to meet, network and share ideas.

Decision-making without the guesswork

Get access to Webster Web-Link® — an online reporting and transaction system for retrieving, reviewing, and analyzing information about your Webster accounts in a secure environment. Log in at your convenience and get the information you need to make smarter spending decisions for your business.

Learn more about Web-Link
 Webster Web-Link — an online reporting and transaction system from Webster Bank

Understanding cybersecurity and fraud

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Cybersecurity and fraud are two areas of increasing importance when addressing efficiency and best practices. Here are some key considerations: 

  • Be smart about security. Create (or update) an Information Security Policy and obtain formal acknowledgement from all relative parties. 
  • Watch your transactions. Use dedicated computers and develop procedures to reconcile your payments. 
  • Protect your check supply. Use a trusted, established vendor and secure storage when dealing with checks. 
  • Conduct periodic risk assessments. Identify and inventory potential security problems across all lines of business. 

For additional resources, please visit our Security page

Protecting your business

Business Banking Insights

Thoughtful planning goes a long way for your business

A business plan is an essential road map for success. It documents the route that your company intends to take in order to reach, maintain and grow revenues. There are many resources available to assist companies with building a business plan to achieve success, and the SBA is a great place to start!
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To franchise or not to franchise?

If you’ve ever dreamed of being your own boss, owning a franchise can be an effective way to start to a business. From fast food restaurants to fitness and spa centers, there are more than 700,000 franchises in the U.S. alone.
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Transition planning for small business owners

Most business owners have spent mos of their life building their business and not so much time figuring out who will take over when it's time to stop down.