Headquartered in Cleveland, Tennessee, Check Into Cash provides payday advance services including installments, title loans and lines of credit to its customers. With 750 retail locations and 2,000 employees processing 2 million transactions annually, Check Into Cash is a national leader in short-term credit solutions.
Lexmark Smart Document Capture
Like most financial services companies, Check into Cash performs regular internal audits in its stores. However, given the number of stores and geographical distance between locations, the audits could only be performed once a year by a traveling audit team.
Randy Warren Vice President of Technical Operations, Check Into CashThe auditors now have the capability of looking at any store on demand to see what’s going on in real time, rather than only once a year. This has greatly increased accountability and resulted in a $288,000 annual savings in travel expenses.
According to Randy Warren, Vice President of Technical Operations at Check Into Cash, the audit system was time consuming and burdensome for auditors. “The internal audit team had to travel to each store and search through each file cabinet to find the documents for every transaction or loan,” says Warren. “If you had a fraud situation, it might perpetuate for months.”
As a Lexmark multifunction printer customer, Check Into Cash was familiar with Lexmark’s reputation for quality and service. The company chose Lexmark Smart Document capture solution to expedite audits and reduce travel expenses, as customer information is captured right at the device.
Randy Warren Vice President of Technical Operations, Check Into CashWith Lexmark devices, documents come out of the printer in an unbelievably short amount of time. It’s so fast and absolutely what we needed.
“The auditors now have the capacity and capability of looking at any store on demand to see what’s going on in real time, rather than only once a year,” explains Warren. “This has greatly increased accountability and resulted in a $288,000 annual savings in travel expenses.”
Check Into Cash has realized impressive results using Smart Document Capture. For audits alone, the company has saved over $1.5 million in travel expenses since implementing the solution. Plus with digitized documents, retail locations gained additional floor space by eliminating the need for physical storage cabinets.
Using Lexmark multifunction printers in tandem with Smart Document Capture also delivers a significant improvement over the company’s previous intake process where each document had to be copied individually and physically stored on site. Now, each new customer transaction takes less than 20 minutes.
“With Lexmark devices, documents come out of the printer in an unbelievably short amount of time. It’s so fast and absolutely what we needed,” says Warren.