Accounting
Relay Becomes Official Banking Platform of Profit First
In addition, Relay is launching auto-transfer rules—a feature that allows businesses to automate the Profit First cash management system.
Mar. 22, 2023
Relay, the online business banking platform, and Profit First Professionals, a member organization of profitability coaches, have announced that they are launching a partnership. As a result of this partnership, Relay becomes the official banking platform for Profit First. In addition, Relay is launching auto-transfer rules—a feature that allows businesses to automate the Profit First cash management system.
Profit First is a behavioral-based cash management system that enables you to run your business out of your bank and become permanently profitable. The system teaches entrepreneurs to allocate their income into different checking accounts, including Profit, Owner’s Pay, Taxes and Operating Expenses, so they can better manage their cash flow and ensure long-term profitability.
“The day someone opens a Relay account and sets up Profit First is the day they become immediately profitable,” said Mike Michalowicz, Author of Profit First and Co-Founder of Profit First Professionals.
Relay is a business banking platform that gives business owners clarity into what they’re earning, spending and saving. It is a perfect match for Profit First, as it allows business owners to open multiple no-fee checking accounts, make percentage-based transfers, and, starting now, automate Profit First allocations. “3,000+ Profit First users already depend on Relay for banking. It’s because Relay makes it easy to put the Profit First method into action—and stick with it,” explained Yoseph West, Co-Founder and CEO of Relay.
In addition to launching new features, Relay is also becoming a Profit First Certified firm, to serve business owners more deeply. Ron Saharyan, Co-Founder of Profit First Professionals, said, “Profit First Professionals should use Relay for banking because it is the gold standard. Relay will help them succeed and help their customers succeed as well.”
Business owners that want to implement Profit First with Relay can get started 100% online and open multiple real checking accounts without any account fees or minimum balances.
For business owners looking to work with a Certifed Profit First Professional (PFP) to implement a cash management strategy, they can find a certified PFP here. Accountants and bookkeepers who are interested in becoming a Certifed Profit First Professional can learn more here.
About Relay: Relay is an online banking platform that Relay’s online banking and money management platform puts business owners in complete control of their cash flow. Relay makes it easy to understand precisely what you’re earning, spending and saving so you can make the smartest decisions for your business. Disclaimer: Relay is a financial technology company, not a bank. Banking services and FDIC insurance provided by Thread Bank; Member FDIC. The Relay Visa® Debit Card is issued by Thread Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted.
About Profit First Professionals: Profit First Professionals is a network of certified coaches and trainers who work with business owners to help them implement the Profit First system into their operations. With a focus on education and support, Profit First Professionals is dedicated to helping businesses achieve financial success.