3 Reasons Why Any Business Should Use a Cheque Scanner

    Oct 29 2014

    Topics: Cheque Scanner

    For any business that accepts and processes cheques for payment, the use of a cheque scanner can speed up the process of reading cheques while ensuring reliable and accurate results. Businesses can choose from single feed, auto feed, and high speed scanners to fit their needs. Cheque scanners are easy to use, powerful, durable, and simple to maintain. Cheque scanners come with document handling, system scalability, MICR read accuracy and high image quality.

    Save Time and Money

    Whether a business is accepting a few, a dozen or a hundred cheques per day as payment, it’s inevitable that valuable time will have to be spent photocopying each cheque—on both sides—then transferring the data into a spreadsheet for management purposes, and then commuting to the bank to deposit the funds. With a cheque scanner, what could take a business several hours can now take as little as a few minutes to accomplish. Simply place the cheque in the machine, wait a few seconds, and receive an electronic file or printout of the data. Some high-capacity feeders can scan over 100 documents per minute. The cheque scanner’s special document handling capabilities also intuitively adjust contrast to make any difficult-to-read cheque easier to process in order to reduce errors. The time and money saved by using a cheque scanner will lead to increased profits and productivity for any business.

    Easily Deposit Cheques Remotely

    One of the most interesting aspects of a cheque scanner is its ability to remotely deposit cheques into bank accounts, saving the business owner time and money from driving to the bank and waiting in long lines to physically deposit the cheques. Times have changed and so has banking. The remote deposit process is simple: The cheque scanner creates a digital image of the cheque, which is then transmitted to the bank for deposit. It’s quick, easy, secure, and best of all, convenient. You can deposit cheques from virtually anywhere, at any time. However, not all scanners are compatible with every bank’s software, so it’s important to find out exactly which scanner will be best for your banking needs.

    Quickly Create Manageable Database Systems

    Cheque scanners use magnetic ink character recognition (MICR) to read the information printed on the cheque, such as the bank number, cheque number, routing number. Other non-MICR information, such as payer and payee names and addresses, as well as the cheque amount, can also be read and saved quickly and efficiently. Once the cheque is scanned, the machine then saves the information in a file in order to create a manageable database of all the customers who pay by cheque. The information is used to create a cheque listing and/or can be exported to a spreadsheet and arranged in appropriate data fields. The scanner also produces a high-resolution image of the cheque. This file can then be sent through various portals, such as email or the web, which increases the flexibility of distributing the data. When a cheque scanner is used, the record of all the cheques accepted at a business is organized in a convenient database system for quick and easy access, management, and storage.

    Regardless of the amount of cheques that go through a business’s cash system each day, cheque scanners provide business owners with an easy way to process and organize cheques in order to save time, money, and sanity. The fact is every business can benefit from a cheque scanner. 

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    Andrea Lombardi

    Andrea Lombardi

    Andrea joined the CashTech team upon its inception in 2003. Learning the business from the ground up, she now utilizes her expertise in account management, planning, and negotiation while managing the daily operations of CashTech’s sales, marketing, and logistics departments. Andrea holds a bachelor’s degree from the University of Western Ontario. She enjoys travelling and has a passion for personal fitness, including obtaining her kettlebell certification. Andrea lives in Toronto with her husband and two young sons.

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    CashTech Currency Products Inc.
    1040 Cardiff Boulevard
    Mississauga ON, L5S 1P3