Bank of America (BAC) is offering software to help small business clients manage their cash.

The nation's second-largest bank said Wednesday that its Merrill Lynch unit has released Cash Management Essentials, a subscription-based software service that helps small companies manage accounts, process payments and receivables, and protect their accounts against fraud. The system also includes image lockbox and ACH transfer services.

"Our small business clients and those with less complex treasury needs tell us they need the same treasury tools used by larger companies with low, simple pricing and a fast, easy and user-friendly on-boarding experience," Galen Robbins, head of global transaction services for B of A's global commercial business group, said in a press release.

The software allows users to add services as their business needs evolve.