News & Events

News Hub

Dual purpose check and cash scanners save businesses valuable time

Dual purpose check and cash scanners save businesses valuable time

Businesses in the retail industry still have plenty of reasons to invest in dual purpose cash and check scanners. Consumers have several payment options whenever purchasing goods at a brick-and-mortar store. As much as card-based transactions have grown in popularity over the years, many consumers still enjoy using checks whenever they can. Small and midsize enterprises have the chance to witness immediate productivity improvements by utilizing technology that eliminates many of the steps of depositing this income on a daily basis.

A recent article in The Green Sheet revealed an unlikely trend among American consumers. Citing data from the U.S. Federal Reserve System, the publication indicated that individuals wrote more than 19 billion checks in 2012. Paul Doyle, founder and chief executive of the check processing company VerifyValid, told the magazine that this method of payment continues to be so resilient because of its deep familiarity among consumers. Checks have a reputation for being a relatively simple and secure way to transfer money between parties.

Retail businesses have the responsibility to keep up with these behaviors and find an equally straightforward solution to handling checks during back office processes. According to the Los Angeles Times, economic experts are seeing steady improvements in overall consumer confidence. This means that after years of recovering from the Great Recession, shoppers are gradually demonstrating a willingness to spend more money for their own pleasure. As a result, small and midsize enterprises may find themselves having to deposit a larger number of checks every day. A dual purpose cash and check scanner can save these organizations a substantial amount of time in the long run. By automatically depositing payments, employees can save themselves multiple trips to the bank, and businesses will be able to continue growing with the economy.

April 2, 2014