Akoni, the cash management platform within Stubben Edge Group, is encouraging UK SMEs with significant cash reserves to review where their money is held, as businesses continue to navigate changing interest rates, cost pressures and economic uncertainty.
Many SMEs hold cash for tax, payroll, working capital, capital expenditure or future growth. While these reserves play a vital role in business stability, Akoni says they are not always reviewed as actively as other areas of financial management.
Cash can often remain in the same account for months, or even years, because the arrangement feels familiar, secure or easy to manage. However, as banks continue to adjust savings products and rates, businesses may miss opportunities to access more competitive returns, diversify deposits or reduce the admin involved in managing multiple banking relationships.
Akoni works with a range of UK SMEs and organisations, including businesses across professional services, hospitality, travel, technology, sports and specialist services.
Mark Ettridge, Director of Banking at Akoni, said: “Many SMEs are extremely focused on managing cash flow, but surplus cash does not always get the same level of attention once it is sitting in the bank.
“The issue is not that finance leaders are ignoring it. It is that reviewing savings options, opening new accounts and managing deposits across multiple providers can feel like a time-consuming process.
“Akoni is designed to make that simpler. By giving businesses access to a panel of banks through one platform, we can help them review where their cash is held, consider diversification and make more informed decisions without adding unnecessary admin.”
Akoni gives businesses access to savings products from a panel of 25 partner banks through one platform, helping users compare options, place deposits and manage cash holdings more efficiently from one central place.
The platform has low or no minimum deposit requirements, making cash management more accessible for SMEs that want greater choice without creating additional complexity.
For businesses holding larger balances, Akoni says cash management should not be viewed purely as a rate comparison exercise. Instead, SMEs should consider how much cash needs to remain accessible, whether deposits are spread appropriately across providers, how frequently accounts are reviewed and how much internal time is spent managing multiple banking arrangements.
Akoni says SME leaders and finance teams should regularly ask:
When did we last review where our business cash is held?
Are we still accessing a competitive return?
How much cash needs to remain immediately accessible?
Are our deposits spread appropriately across providers?
Is managing multiple accounts creating unnecessary admin?
Does our current approach support our wider business plans?
Ettridge added: “For many SMEs, cash is one of the most important assets in the business. It supports resilience, growth and confidence. But it should not be left on autopilot.
“A regular review can help business owners and finance leaders understand whether their cash is still working as hard as it could be, whether it is held in the right places and whether there is a simpler way to manage it.”
Akoni helps SMEs compare business savings products from a panel of partner banks through one platform, making it easier to review rates, spread deposits and manage business cash with less admin.
To find out more, visit Akoni
