Technological advances have helped companies in every industry become more efficient, productive, and profitable over the years. Specifically, the technology used in cash management solutions has revolutionized the way people do business, and it can help your credit union run more efficiently, too.
Although any company that accepts cheques as payment can benefit from the use of a cheque scanner, credit unions in particular can reap many benefits from investing in this cash management solution. Here are five things a cheque scanner can do for your credit union.
As you know, human error can be incredibly costly, time consuming, and frustrating to deal with. But you don’t have to accept inaccurate cheque processing as a part of doing business. Cheque scanners are reliable and dependable. You can trust the high-quality image capture to read, process, and display accurate cheque information every time. It can read MICR information quickly and effortlessly, even on dark backgrounds, with multiple colours, or when there are smudges. This means you reduce the opportunity of human error from occurring when your customer service representatives are forced to manually process cheques.
It takes time to manually process cheques. Your customer service representatives may photocopy both sides, manually input the data into your software, and then organize and store the cheques in a safe location. All of this tedious work adds up—especially at a credit union when you can handle hundreds of cheques per day. Because a cheque scanner can do all of this work in just seconds with the press of a few buttons, you’ll save valuable time from processing cheques by hand.
Get Those Lines Moving
Many customers dread making a trip to you credit union because they know they’ll inevitably have to wait in line to be served. These lines can be long, winding around your entire establishment. This is the number one complaint most customers have about financial institutions. But when you invest in cheque scanning, you can beat your competitors by having shorter lines—all the time.
Because depositing and cashing cheques is one of the main reasons people still go to their financial institutions, you can drastically cut wait times by letting technology handle the work. The time you save isn’t just beneficial to your staff and your bottom line, but to your customers, too.
Focus on Your Customers
Your customer service levels will inevitably increase when your staff members spend less time manually processing cheques and more time focusing on your customers. They’ll have a lot more time to dedicate to selling additional products and services, dealing with complaints, answering questions, and helping your clients with all of their banking needs. In return, your customer satisfaction will also increase, so you can keep your loyal clients for years to come.
Lastly, saving money is something that every credit union is always trying to do. With a cheque scanner, you can streamline your processes so you save money on labour costs, equipment, and supplies, since you won’t have to manually accept, process, sort, organize, and store cheques anymore. Plus, the accuracy guarantee of your cheque scanner means you won’t lose out on money caused by costly human error.
Integrate Cheque Scanning Now
Help your credit union grow by investing in a cheque scanner. This cash management solution can help you increase accuracy, save time, save money, get your lines moving, and focus on your customers. Not only will your operations be more efficient when you integrate cheque scanning into your financial establishment, but your customer service levels and customer satisfaction will skyrocket.