On-Demand Check Issuance

Issuance of checks like AP, payroll, claims and exception checks is a costly, yet essential function for insurance companies. However, many companies are asking themselves, How can we cut the time consuming and expensive processes surrounding check issuance for branch locations?

Source Technologies' comprehensive on-demand check issuance solution combines our eDocSecure™ payment management software and our secure, standard or multi-function MICR (magnetic ink character recognition) laser check printers. Together they provide a fast, cost-effective, and secure way to conduct remote, on-demand printing of MICR checks and other sensitive documents, while maintaining centralized approval and control of the process.

This solution provides a way for local agents to print MICR checks on-site, while managing check printing centrally. This same-day check printing eliminates the hassle of having to wait for checks to be printed and delivered from the insurer's headquarters.

Using eDocSecure, agents and their staff submit disbursement requests via a web browser. eDocSecure processes the request and upon approval, checks print on-site. Centrally-located staff has total visibility over all disbursements - requests, approvals, issued and printed checks, voids and reprints - in real-time, complete with online auditing and reporting functions.

This system provides many benefits for both insurance companies and their agents:

• Ability to request and print checks on-demand in every branch, nationwide
• Centralized real-time monitoring of check-printing activity at all local offices.
• Fully automated control, reporting, and auditing over your check issuance process
• Elimination of check fraud: secure distributed MICR printing eliminates the cost of purchasing, handling, storing, and securing pre-printed check stock
• Elimination of delivery and courier costs

When combined, eDocSecure and Source Technologies' MICR printers offer the most secure way to print checks available today. All data is encrypted through the entire process, from the central location, to the remote PC and all the way to the printer. Source Technologies' printers "talk back" in real-time to eDocSecure, so you always know the status of your disbursements.

The implementation of a centrally managed system at your agents' locations will drastically cut operational costs and make it easier for your agents to provide excellent customer service.

On-Demand Check Issuance: Highlights

• Insurers maintain complete control over all requests, approvals and print processes for all issued items
• No software needed on-site - just a PC, web-browser and a Source Technologies’ secure MICR laser printer
• Easy to deploy and cost effective: Typical return on investment is approximately twelve months