Are You Printing Your Checks the 'Old Fashioned Way'?

It's amazing that with all the technology available in this day and age, the majority of companies are still printing and processing their checks the old fashioned way. What is the 'Old Fashioned Way', you may ask?

Under the rules of this traditional method, the check printing process consists of the following steps:

1. Managing multiple pre-printed check Forms
2. Storing/Securing check stock
3. Maintaining Inventory of Check Stock
4. Retrieving Check Stock & Loading onto Printer
5. Printing the Checks
6. Bursting the Checks
7. Decollating the Checks
8. Signing the Checks
9. Sorting the Checks
10. Distributing the Checks

The traditional system requires that checks be printed for each bank account, company and/or bank in use for the particular check payment application. This system must use expensive pre-printed check forms and may often require even more expensive multi-part stock. Forms wasted with alignment errors and printer jams must be accounted for. Stub overflows must be printed on this expensive stationary and the check portion rendered non-negotiable.

This situation not only demands a significant investment on the part of the company. It also exposes the company to the risk of obsolescence should there be a change in the relationship with their existing bank. This methodology also means that companies must be extra vigilant in the securing and protection of the unused check stock to safeguard it against unauthorized access and potential risk of fraud.

Labor Intensive

Management is often subjected to the task of signing all the checks manually, a very tedious and time-consuming operation.

In other cases, a metal plate has been burnt with the signatures to be applied to the checks and this requires that the check be passed through a mechanical signer. Strict procedures need to be implemented for the use and safekeeping of the signature plates.

An investment in check bursting and decollating equipment is often necessary to separate the checks from their copies, and in some cases from carbon paper as well. This results in a very time consuming and messy operation.

Time Intensive

Now it comes time to start processing the checks for distribution. The checks must be manually inserted, sealed, stamped and distributed. This operation requires, in many cases, that several individuals be involved in this procedure to expedite its completion. Moreover, it exposes sensitive and confidential information to the eyes of many whom have no need to know.

The time required to perform these operations can fluctuate from one full day to several days depending on the volume of checks involved. Several employees may be involved in this time consuming operation.

Does This Sound Like You?

You may think that the old fashioned way is working for you. However, after analyzing this process, you'll agree that the check printing process has become quite a burdensome, tedious, time consuming, and costly operation indeed.

Well, you may be asking, what new techniques are available that will save me from the situation I am in right now?

I'm glad you asked. How would you like to skip all ten of the "Old Fashioned Ways" of printing your checks?

The 'New Way' of printing and processing your checks becomes something like this:

1. Import a Data File from Any Financial Management System
2. Print Checks on blank Safety Check Stock

With this new process, the benefits are as follows:

1. Preprinted checks are no longer necessary
2. Bursting and decollating equipment is eliminated
3. Checks are printed on blank safety check stock with its layout, logo, signatures, MICR line and data, in just one pass through the laser printer.
4. Multiple layouts, banks, accounts and currencies can be accessed and printed without having to change the paper on the printer.
5. With the help of a folder/sealer machine, the checks are folded and sealed in one quick pass - completely eliminating the need to use envelopes. No further handling is needed.

This operation can be handled by just one employee, further reducing your costs and decreasing exposure to sensitive information. And you have much greater control over your operation.

I'm happy to tell you that the key benefits of the MICR laser check printing solution are:

Savings: Cost reductions as high as 75% are achieved as a result of the savings in personnel time dedicated to conventional check printing practices; elimination of post-processing equipment such as bursters, decollators and signature equipment; and the expense of managing a variety of pre-printed check stock.

Efficiency: MICR laser check printing solutions, using blank safety check stock, can accomplish a large volume of check printing with a single pass through the laser printer. Line printers as well as the operation of bursters, decollators and signature equipment are totally eliminated.

Security: A variety of software, hardware and check stock security features are incorporated in the MICR laser check printing process to provide a solution with rock solid security. Some of these features are multi-level password protection, electronic guard on the PC, key-locks on the MICR laser printer, internal password protection for logos and signatures, and printer specific MICR toners. Additionally, the check stock is protected with copier void designs, prismatic coloring, chemical void stains, watermarks and other features.

Ease of Use - Will it be easy to use for my users? Will they need any lengthy special training?

Security - Is security provided on all components of the system?

Scalability - Will I be able to add additional functionalities in the future?

Reliability - Will I encounter any incompatibility problems with other components of my operation?

Flexibility - Is my provider willing to make changes to their software package to suit my individual needs?

Breadth of Coverage - Will I be able to get all the components needed to keep my system running from one single supplier? Will they be providing me not only with the software but also with the MICR toners, MICR printers, safety paper, software maintenance, post-processing solution and supplies?

Support - Is technical support readily available in case of a problem?

Customer Service - Is the customer service and sales staff friendly, knowledgeable and willing to listen to my needs?

Guarantee - Is there a commitment on the part of my provider for a total satisfaction guarantee after installation or my money back?

Printech, Inc. is a privately held Miami, FL company established in 1981 specializing in secure MICR laser check payment solutions. The CheckPlus software is available to handle any check printing application in a very secure environment and has the capability of interfacing with any host computer platform and accounting system.