Powering Multiple Stores with Quick Openfloat Disbursements

Openfloat digital float account allows you to simplify the financial operations of your business, you can:

• Make payments to suppliers, employees, and other third parties.

• Disburse funds to different departments or branches.

• Pay bills and invoices.

• Track financial activity in real-time.

This blog dives into two key features of Openfloat: the multi-account option and quick disbursements, specifically designed to assist businesses with multiple locations to simplify their financial operations.

1. Managing Complexity with Multi-Accounts Option

Managing multiple stores or branches can be challenging for your business, especially when it comes to finances. The multi-account feature on Openfloat enables you to easily manage your multiple stores across multiple locations. By consolidating financial management, simplifying payments, and ensuring speedy fund availability, Openfloat empowers you to operate your business with greater efficiency and control.

Here's how:

• Consolidated View: The multi-accounts option on Openfloat allows you to gain a centralized overview of all your store finances, including account balances, transaction history, and real-time cash flow. This means no more switching between individual accounts, saving you valuable time and effort to profit from your business.

• Individualized Control: Despite the unified view, the multi-accounts option ensures each store retains its own unique identity. Defining specific user roles and permissions for each account ensures strict control over financial activities.

• Simplified Reconciliation: Reconciling transactions across multiple locations can be a tedious task, however, Openfloat simplifies this process by generating consolidated on demand reports, simplifying your accounting procedures.

• Enhanced Efficiency: In addition to this, you can manage invoices, pay bills, and disburse funds across all your stores from a single platform on Openfloat. This eliminates the need for repetitive tasks, boosting your operational efficiency.

2. Quick Fund Disbursements

Time is money, especially in a busy business environment. Openfloat's quick disbursement feature eliminates delays and ensures funds are available rapidly for multiple recipients.

How it works

• Effortless Bulk Payments: Openfloat allows you to send funds to employees, suppliers, or any other recipients across your entire network in one go. No more processing individual transactions, saving you significant time and effort.

• Flexible Adjustments: In addition to this, if you need to adjust payment amounts for specific recipients, Openfloat's interactive user interface allows you to easily modify individual amounts within the bulk payment, ensuring accuracy and flexibility before disbursement.

• Immediate Availability: Funds reach recipients instantly, eliminating waiting periods and delays. This ensures smooth cash flow management and improves your overall financial agility.

• Simplified Workflow: With Openfloat, you can easily handle recurring payments and disbursements, further reducing manual tasks and streamlining your financial workflow.

The true power of Openfloat lies in the connection between its multi-account option and quick disbursements. Imagine instantly sending salaries to employees across all your stores or promptly paying suppliers for all locations with a single click.

This combined functionality enhances financial control, boosts efficiency, and empowers you to operate with greater agility and responsiveness.

How Secure is Openfloat?

Openfloat has implemented a comprehensive suite of security features to ensure the safety and security of its users' funds. They include:

• Secure Login and Access Control

Openfloat uses multi-factor authentication (MFA) for user logins. This adds an extra layer of security by requiring users to provide two or more factors of authentication, such as a password and a one-time code sent to their mobile phone, before they can access their account.

It also offers access control, allowing businesses to assign different levels of access to different users based on their roles and responsibilities. This helps to ensure that only authorized personnel can access sensitive financial information.