US Bank, a subsidiary of US Bancorp, has launched a new an online reporting tool ScoreBoard to help small businesses make smarter decisions about the financial operations of their business.
US Bank said that ScoreBoard tool provides trending and reporting data that allows customers to monitor their own credit card spending and also compare their card sales data to industry trends.
ScoreBoard is available to its small business credit cardholders and merchant customers who process credit, debit and electronic check transactions through US Bank merchant services.
According to the US bank, ScoreBoard features charts and graphs that provide a monthly snapshot of credit card purchases and payments. It also gives customers insight into their merchant accounts, tracking sales transactions when customers use a card for payment of goods and services.
In addition, US Bank business cardholders can use ScoreBoard to download customizable reports for their specific business needs.
The bank added that business owners of the US Bank-issued small business credit card can access ScoreBoard through their existing internet banking platform. They can use ScoreBoard to: monitor card spending by an individual employee cardholder or for their entire business; review transactions over various time periods and categories and examine their purchase activity by volume, average ticket price or merchant name.
Merchants who process their payments through US Bank merchant services can use ScoreBoard to: review sales by volume, average ticket price, or payment type over various time periods; determine growth rate for card sales over a selected period of time and benchmark card sales performance against other small businesses in their industry or geographic area by looking at ScoreBoard’s overview of consumer spending trends.
Pam Joseph, vice chairman of payment services at US Bancorp, said: “ScoreBoard is unique because it gives our small business customers the ability to monitor their own spending and insight into how their sales trends compare to similar merchants in their business category. For our customers who have a US Bank credit card and merchant account, the tool provides a comprehensive view of their business trends.”