Information contained on this page is provided by an independent third-party content provider. WorldNow and this Station make no warranties or representations in connection therewith. If you have any questions or comments about this page please contact email@example.com.
CIBC poll shows business owners and managers working more hours, under more stress
TORONTO, Sept. 9, 2013 /CNW/ - With time pressures mounting on business owners in Canada, CIBC (TSX: CM) (NYSE: CM) today announced an innovative new cash management mobile app for business clients, allowing them to manage cash flow and approve vital business payments, anywhere, anytime.
This new development comes at a time when business owners and managers say they are under more pressure than ever and are increasingly required to be away from their desk during business hours in order to grow their business.
Key findings of the poll include:
"Cash flow is more important than ever to businesses, but with unpredictable hours and other time pressures, business owners and their managers need the ability to stay on top of finances and take care of time-sensitive payments on short notice," said Phil Griffiths, Senior Vice President of Global Transaction Banking, CIBC. "Business owners need to invest their time in growing their business, and can't be tied to the office because they are waiting on an important payment or to approve a key transaction."
Mobile Devices Popular Among Business Owners
According to the poll, 74 per cent of business owners or managers own a smartphone for business use. That exceeds the ownership rate among Canadian consumers based on results from past CIBC research.
To help business owners deal with increasing time pressures, CIBC is the first among the big five banks to introduce a robust mobile cash management app that allows business clients to approve key transactions across multiple payment types while they are on the go.
Using the secure CIBC Mobile Business app, business clients can:
"Our new app is aimed at business clients who need an unparalleled level of access and flexibility with their cash management platform," said Mr. Griffiths. "Mobile banking for personal clients has grown rapidly in just a few years, and we're expecting mobile banking for business owners to be well received because of the tremendous flexibility it offers."
More information about the app is available at cibc.com/mobilebusiness
The app is available for download from BlackBerry App World and the Apple and iTunes App Store.
Results are based on a CIBC poll conducted online by Leger, which surveyed 801 business owners or managers. The associated margin of error for a probabilistic sample of the same size is +/-3.46%, 19 times out of 20. Polling was conducted between June 3 and 10, 2013.
CIBC is a leading North American financial institution with nearly 11 million personal banking and business clients. CIBC offers a full range of products and services through its comprehensive electronic banking network, branches and offices across Canada, and has offices in the United States and around the world. You can find other news releases and information about CIBC in our Press Centre on our corporate website at www.cibc.com.
©2012 PR Newswire. All Rights Reserved.