Understanding How Cheque Imaging Can Boost Small Business Profitability

    Apr 18 2014

    If you're running a small "mom and pop" type shop, or a chain of just a few stores, chances are you probably don't approach your business operations the same way Canadian Tire or any of the other major names do. However, that doesn't mean you have to live in the stone age when it comes to giving your customers a great shopping experience and keeping your head above water on bills and payroll. With a new outlook on handling money, like cheque scanners that revolutionize how you deal with this currency, you'll soon have your business running efficiently and profitably like the big names, even if you're only interested in catering to a more local crowd.

    Saving Time Isn't Just for the Big Boys

    One of the biggest advantages that major outfits have over smaller shops is that they run like well-oiled machines. Fortunately for your small business, picking up on the cheque imaging software trend can also help you streamline the process. This type of hardware, and the software that supports it, not only speeds up how your sort and approve cheques, but also helps cut down on the risk of fraudulent or counterfeit offerings. Basically, by removing a bunch of the down-time that goes into cataloguing and handling these documents, you'll soon see a business environment in your shop that focuses less on the headache that comes with cheques and more on keeping your customers happy with better service and help from your employees.

    Neither is Saving Money

    Of course, another way the big name outlets make money is by cutting down on what they spend. Even though it might not seem like much at first, the amount of resources and effort that goes into handling, storing, and sorting cheques adds up pretty fast. Again, streamlining the process and keeping digital copies of your incoming cheques helps circumvent these expenses and keep your business bank account happy and healthy. Although you're volume's probably not in the same ballpark, it's pretty easy to see that any little bit of savings goes a long way toward the viability of your shop, especially if you get in on the action early instead of sitting on the fence.

    Technology That's Forward Thinking

    Perhaps the best reason to try cheque scanners in your store is that this kind of technology is well on its way to becoming the norm in the retail and banking world. While you can get by and make a living doing what you're doing now, eventually great tech that helps both business owners and customers get what they want faster and in a more reliable way will be the standard pretty much everywhere. Additionally, as more and more companies give it a try, it's hard to imagine a scenario where new and exciting uses and functionality that further enhance business operations aren't discovered by those with firsthand experience using the technology. To sum it all up, doing smart things for your business now – like adopting cheque imaging strategies into your retail setting – not only gives you a boost now, it also helps ensure your store will be around long enough to take advantage of the next wave of great retail tech.

    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