Accounts Payable is a critical function of every business, and it’s important that invoices are paid quickly and efficiently. While personal check payments have been declining over the past decade, the majority of businesses still use check payments to pay their bills, according to the Federal Reserve’s 2016 Payment Study. MICR check printers can offer these businesses the ability to minimize the risk of fraud and human error, while also saving money.
Before MICR Check Printers: Issuing A/P check payments manually
The majority of A/P departments paying invoices through check payments are still using pre-printed check stock and a laser or dot matrix printer instead of a MICR check printer. Those pre-printed checks alone pose some significant risks:
- Cost – Pre-printed check stock is expensive to purchase, store, distribute and re-order if company information changes.
- Fraud – A pre-printed check is the easiest instrument to alter or forge.
- Human Error – Manual processes are vulnerable to mistakes.
After: Automating the A/P check issuance process with MICR Check Printers
An integrated software and hardware solution created specifically for check printing creates a secure, cost-effective method for printing A/P checks on-demand while providing control over the entire process. Our Accounts Payable check printing solution includes CheckPartner Enterprise software and secure MICR check printers.
CheckPartner Enterprise combines the data transfer capabilities of the internet and the latest check printing technology to allow businesses to securely print checks with complete control of the process. Our secure MICR check printers print static data, variable data and required signatures on blank check stock on-demand in a single printer pass. This combination of software and hardware offers control and visibility for printing A/P check payments on demand, offering greater efficiency for this business-critical function.
- Eliminate the need for pre-printed check stock – save 82% in paper costs alone by switching to blank check stock and check printing technology
- Virtually eliminate the risk of check fraud – no pre-printed checks to be pilfered
- Automate a manual check payment process – automation eliminates the risk of human error
To learn more about how secure check payment printing solutions like our MICR check printers can revolutionize your business, contact us today!