Every business, regardless of the industry, wants to increase efficiency while reducing operational costs. One huge opportunity to do this is by automating manual processes, to save time and manpower. The advancement of technology in the business world has made automation more accessible to small business owners than ever before.
One way that small businesses are improving efficiency through automation is with cheque scanners. Here are five reasons why using cheque or check scanners for businesses improves operations all around:
- Business scanners for cheques cut out numerous manual steps.
The manual process for processing a cheque or check usually involves making a photocopy of the front and back of a cheque, entering the accounting information into a spreadsheet or database, reconciling it, and then physically taking it to the bank to deposit. Each of those steps costs a business time that could be spent doing more productive things. On the other hand, by using high speed scanners, a whole stack of cheques can be scanned, recorded, and deposited almost instantaneously.
- Cheque scanners save businesses loads of cash.
Each manual step in cheque processing process costs a business the salary they’re paying an employee to do it instead of something that adds value to the business. Additionally, since automated cheque or check processing is a paperless system, costs for record storage and management are almost nill. You even save the gas its costs to drive down to the bank and physically drop off the paper cheques. Buying a cheque scanner pays for itself several times over very quickly through all the savings it offers.
- Remote depositing adds convenience and safety.
Perhaps the greatest benefit of a cheque scanner is the ability to deposit the cheque in real time without ever leaving your desk. Not only does this save time, it improves safety for the person who would have to make the delivery, and the cash is collected much faster.
- Cheque scanners do the paperwork for you.
Cheque scanners use advanced software to instantaneously pull all of the information off of a check, even if it is dark or hard to read, and organize it in any manner that your business requires. Any data on the cheque that you will need a record of can be collected and organized; the routing, account, and cheque numbers, as well as the account holder’s name, address, and signature. Essentially, the cheque scanner system can become your data entry specialist.
The software the cheque scanner works with can then transfer the data collected from your batch of cheques into the financial program or reporting application you use for financial management.
- The versatility of cheque scanners makes it useful to any type of business.
There are small, mobile cheque scanners that can be used out in the field. There are cheque scanner that can handle hundreds of cheques in one batch for companies who have high volume inputs. There are scanners for a wide range of purposes and in any cost bracket. The cheque scanning technology is accessible to small businesses that are one man operations all the way up to enormous enterprises.