Connect Fall 2019 | Page 4

FOCUS FIND YOUR NEXT S-CURVE Stay ahead of the curve by knowing when to jump to a new one. IN BUSINESS, the cycle of growth and maturity—often depicted as an S-curve—is an inevitable reality that the best products, markets, and business models can’t escape. The most successful companies reinvent themselves constantly to stay ahead of the wave of competition crashing behind them. To position your business to jump to the next S-curve, pay attention to the following: C ompetition. If your product is unique, it won’t be for long. Once competition enters the market, brands are challenged to fight for market share, and victory is awarded to the latest innovator. Keep an eye on competition and a heavy foot on the R&D pedal. C apabilities. If your company is growing along the financial S-curve, chances are your business is equipped with creative, distinctive products or services. But distinctive- ness is fleeting, so invest in developing new ones before your competition renders them commonplace. T alent. Develop the talent that helped your business grow into the upward- soaring, S-curve rocket it is today. Because when the time comes to find another curve, you’ll need a group of people who have done it with you before. To read more about how your company can stay ahead of the S-curve, visit connect.snb.com/s-curve. THE RISE OF DIGITAL BANKING Digital banking and online banking are not the same thing. Your business needs both. ONLINE BANKING IS ABOUT basic access to your banking information. Digital banking is about automating every step of the banking relationship. The very first examples of digital banking—credit cards and ATM machines—were essentially new layers of service added onto existing banking systems. As more elements of bank systems become digital, that largely invisible conversion has been crucial to providing commercial and personal banking customers with the very visible tools and convenience they expect. The more fully digital a bank has become, the easier it is to provide the products and services customers demand, reduce costs, respond quickly when needs change, and embrace new technologies. For businesses, that means much more than more robust versions of familiar consumer tools such as online bill paying, account access, and mobile banking. Less traditional commercial services made possible through digital banking include cash position reporting, allowing your business to better understand it’s current cash flow and any limitations or opportunities that exist because of that situation, real-time information reporting to make sure you have the information you need, when you need it, and even Quickbooks Direct Connect, giving you the ability to understand your full-scale financial situation in one spot. These services, and more, are built to save your company time and money. Let Sterling National Bank help you choose the right tools to streamline your banking. To learn more, contact your Relationship Manager or Client Services at (855) 274-2800. 4 SNB.COM // CONNECT INNOVATION FALL 2019 // RANKED ONE OF FORBES' BEST BANKS OF 2019