Why Your Business Needs a Cheque Scanner

    Aug 19 2015

    Topics: Cheque Scanner, Your Business

    In this day and age, any business that accepts cheques as a form of payment should have a cheque scanner. Your business should be reaping the rewards of technology. Cheque scanners are convenient, reliable, and secure devices that allow companies to quickly process and deposit cheques.

    Purchasing a scanner is a sound investment and you can find one that fits your unique business needs. There are different price points and models to choose: whether you need to process high volumes of cheques every day or just need a single-feed scanner for smaller scale scanning. Regardless of your volume needs, you’ll be sure to benefit from a scanner.

    Here are just some of the reasons why your business could benefit from purchasing a scanner.

    Boost Productivity in Your Back Office

    Manually processing cheques is a real drag. You have to photocopy both sides of every cheque, input data, and physically file and organize it in a cabinet. When you accept dozens or hundreds of cheques a day, the time spent on this tedious task adds up. Plus, to deposit cheques, you need to drive to the bank and wait in line, which can be a pretty big waste of time if your branch is busy.

    A cheque scanner can really boost productivity by allowing you to process cheques digitally in almost no time at all. In a matter of seconds, your cheques can be processed, stored, organized, and even deposited, one after another after another.

    Remote Deposits Are Convenient

    By far the biggest advantage of buying a cheque scanner for your business is its remote deposit capabilities. You can deposit your cheques by pressing just a few buttons—all without having to leave the office. The paper cheque is converted into a digital cheque, which you can then send to your bank over a secure network effortlessly. And because digital cheques don’t have to be physically moved to distribution centers to be verified, you’ll actually have access to your money sooner than if you were to go to the bank. This can give you a huge competitive advantage: you’ll increase your cash flow, which will allow you to do business better.

    Easy Access to Data

    Think about how much time you’ve wasted looking for a cheque in your filing cabinets in the past. When an issue arises and you need to find a physical cheque, it can be frustrating and time consuming to track it down. But with a cheque scanner, all of your cheque data is automatically captured and saved digitally. You can export it to your computer. You’ll have organized fields of information, like name, address, cheque number, and amount, which will only take moments to access and manage.

    Save on Costs

    If you’re like every other business owner in the world, you’re trying to reduce your operating and administrative costs. A cheque scanner can help in this department. You will require less manpower in your back room when you let technology do the work, so you can save on labour. You’ll also save on storage costs since the cheques will be stored digitally instead of in filing cabinets. Moreover, since your cheque scanner will provide you with greater accuracy, you can save on the costs associated with human error. And don’t forget about the gas money, mileage and labour used to travel back and forth to the bank for deposits!

    Heighten Security

    If accepting cheques as payment worries you because of the risk of getting scammed, then a scanner is a wise investment. Using digital signatures and public key cryptography, electronic cheques are verified and authenticated. You’ll know that the provider is authorized to write cheques from that account. Digital cheques are also encrypted, checked for duplication, and checked against databases for known individuals and companies that have provided fraudulent cheques. Digital cheques are also handled by fewer people, which reduces the chance of them being altered.

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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