As a part of your operations, it’s vital to quickly issue payments and respond to invoices. That means keeping checks on hand. And while the rest of your company is working to go paperless, nearly 80% of business-to-business (B2B) transactions are still made by check.1
Meanwhile, that preprinted check stock sitting throughout your organisation brings some clear challenges:
- Risk of fraud: Preprinted stock has to be closely monitored to mitigate fraud.
- Cost of preprinted stock: Expensive to purchase, store and reprint if company information changes.
- Error-prone steps: Manual processes that use journal entries can introduce human error and lead to additional time spent researching, reconcilling and auditing.
- Time-intensive processes: Your staff has less time to interact with customers to promote your products and services
Perceptive Secure Print is a secure approach to check issuance and process monitoring. With our partner Source Technologies, we offer an integrated software and Magnetic Ink Character Recognition (MICR) printer solution that delivers secure printing for documents, such as checks, on an as-needed basis.
You gain control and visibility while automating a process for greater efficiencies across the organisation. Which includes reducing waste by printing only the checks you need, when you need them.
With Perceptive Secure Print:
- Increase security with blank check stock: Utilise blank check stock to immediately reduce the potential for fraud. MICR printers produce the entire check, including fixed data found on preprinted stock, as well as the variable data, such as payee name, legal amount and date.
- Establish user-defined rules: Integrate controlled check issuance. Source Technologies’ software, CheckPartner Enterprise, enables businesses to implement user-defined rules around item types, issuers, reporting and post-issuance reconcilliation.
- Understand processes throughout your organisation: Monitor workflows from a central location and gain insight over your check-distribution processes.
- Automatically keep your records up to date: At the time of print, a voided, digital copy is captured into Perceptive Content.
- Leverage your investment: With the connector to Perceptive Content, build upon your investment to expand functionality into other areas of your organisation.
1. 2013 Association for Financial Professionals (AFP) Payments Fraud and Control Survey